Company: AHRO
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001477932-25-002774
Chunk: 627

Company: Authentic Holdings, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 4
Chunk 627
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ed interest on December 31, 2024 and 2023 amounted to $39,568 and $37,068, respectively. Related Party Loans The Company received a loan from its’ CEO Paul Serbiak totaling $210,534, plus accrued interest of $71,291 and $63,923 on December 31, 2024, and 2023, respectively.  The Company incurred interest expense of $7,369 and $8,544, respectively.   Balances of all loans due to related parties as of December 31, 2024:   Principal  Accrued Interest  Total Promissory note - related party $447,150  $75,224  $522,374 Convertible notes – Related party  50,000   39,568   89,568 Related Party Loans  210,533   71,292   281,825 Total Related Parties Loans  707,684   186,084  $893,767  On December 31, 2024, related party loans with a face value of $447,150 were in default. Accrued Compensation The Company had $588,751 and $501,250 in accrued compensation due to current and former management on December 31, 2024, and 2023, respectively.  Management has waived compensation for the nine months ended September 30, 2024, and year ended December 31, 2023. Beginning in October 2024, the Company began accruing a salary expense of $350,000 per annum for the Chris Giordano, the Company President.

 F-19Table of Contents

Total increase of $26,422 compared to previous year’s total related party loans of $870,483 primarily due to accrued interest for the year ended December 31, 2024.

NOTE 8 – LEASES The Company’s right-of-use assets under operating lease for an office premises expired on October 1 and the lease was not renewed. There are no lease liabilities balances as of December 31, 2024. The company currently does not have any long-term operating lease. Our operating lease expenses amounted to $0 and $0 for the years ended December 31, 2024 and 2023, respectively.

NOTE 9 – INCOME TAXES The Company provides for income taxes under ASC