Company: AHRO
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001477932-25-002774
Chunk: 579

Company: Authentic Holdings, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 4
Chunk 579
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, or 75%, for the year ended December 31, 2024, compared to the year ended in 2023, primarily due to the amortization of the customer list related to the Maybacks acquisition and the license agreement executed with Goliath.

Professional and legal fees decreased by $40,000, or 30%, for the year ended December 31, 2024, compared to the year ended in 2023, primarily due to a decrease of $52,000 in other consulting fees which were offset by an increase in audit fees of $24,000.

Research and development decreased by $52,000, or 92%, for the year ended December 31, 2024, compared to the year ended in 2023, primarily due to the development of blockchain built out and NFT platform service product lines were completed during 2023.

Other Income (Expenses)

Other expenses were $594,210 for the year ended December 31, 2024, compared to $997,545 for the year ended in 2023. During 2024, other expenses resulted primarily from the write-off of advances in the amount of $625,000, interest expense of $294,330 and a loss on the settlement of notes in the amount of $170,813. These other expenses were offset in part by a gain in the valuation of derivative liabilities of $495,933. During 2023, other expenses consisted primarily of interest expense of $344,443, the loss on debt conversion of $452,472, derivative expense of $239,028, offset by the loss in the valuation of derivative liabilities of $24,567 and the gain on the settlement of license agreements of $125,000.

Net Loss

We recorded a net loss of $1,320,137 for the year ended December 31, 2024, compared to a net loss of $1,658,455 the year ended in 2023.  

Liquidity and Capital Resources

Since our inception, private placements, convertible notes, and unsecured debt, and we have recently issued debt in our company secured by all of our assets. Our current liabilities on our Condensed Consolidated Balance Sheets above contains, on December 31, 2024, certain debt that is in default, including convertible notes with face values of $1,403,428, secured promissory notes with face values of $102,061, related party promissory notes of of $522,374