Company: AHRO
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001477932-25-002774
Chunk: 28

Company: Authentic Holdings, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 1
Chunk 28
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 with the Securities and Exchange Commission guidelines. We have already created our “test net” and will be ready to roll-out music NFTS coupled with vinyl albums as soon as the SEC guidelines become lucidly clear. 

Authentic Heroes, our patented “Fanwear” division has signed a license with NFL Quarterback Tommy DeVito aka “Tommy Cutlets”. We are in the process of making samples that should be approved in the coming weeks and expect to release this commemorative collectible on our new E-Commerce site subsequent to NFL Mini Camp. We are also in discussions for licenses with several other Tier 1 athletes which we anticipate will be signed subsequent to the Tommy DeVito rollout.  

We are also in the process of attempting to recapture the 146,000 “Old is Gold” 16 Christmas Classics Vinyl albums which have been stored in a warehouse in Mainland China due to US Customs challenges which we feel we can rectify. We have been working with the Vantiva division of Technicolor USA and their customs broker to bring the vinyl albums back to the US and subsequently sell them to “Big Box” and “Mass Merchandisers” where there were substantial live purchase orders in 2022. 

With the tariffs of 145%  being levied against merchandise imported from China we are taking a wait and see posture until the tariff matters are ameliorated or significantly reduced. In the interim we are speaking with major distributors of vinyl records as well as Big Box and Mass Merchandisers for a brand new release for Holiday Season 2025 and beyond with most of our offerings of Vinyl being based around theme holidays or seasons such as Valentines Day, Mother’s Day etc. It is our intention to create a vinyl record business beyond any sales of the already created inventory through licensing or the purchasing of music assets. We currently hold an exclusive license on 17,000 Master Recording with Maestro Entertainment. We are currently in the process of expanding the license with them to include streaming and music NFTs.

 21Table of Contents

Operating Expenses

Operating expenses increased from $660,910 for the year ended December 31, 2023, to $997,220 for the year ended December 31, 2024. Overall, this increase resulted from an increase in depreciation and amortization of intangible assets due to the acquisition of Maybacks and the license of Goliath, and, general and administrative expenses, to build out our organization to establish a strong base for current and future