Company: FMHS
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001096906-25-001317
Chunk: 15

Company: FARMHOUSE, INC. /NV
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 15
---
 approximately $31 million in trailing twelve-month revenue. The term sheet contemplates the acquisition of Ledgewood through the issuance of up to 31,000,000 shares of our common stock. The term sheet is non-binding and subject to the execution of definitive agreements. As of the date of this report, there can be no assurance that the transaction will be consummated on the terms proposed or at all.

Strategic Alternatives

During the quarter, we continued to evaluate strategic alternatives to enhance shareholder value. In addition to the previously disclosed potential acquisitions of Thrown, LLC and Ledgewood Holdings, LLC, management has engaged in preliminary discussions with certain parties regarding a potential crypto treasury strategy. These discussions include both internal approaches and potential collaborations with external platforms specializing in cryptocurrency investment and financing. No definitive agreements have been entered into, and there is no assurance that these discussions will result in a transaction or that such a strategy will be pursued.

Results of Operations

Six Months Ended June 30, 2025 Compared to Six Months Ended June 30, 2024.

Revenue. Revenue for the six months ended June 30, 2025 was zero, compared to $4,154 in revenues for the same period in 2024, which were generated from license fees under NFT licensing agreements. We do not expect to generate future revenue from these agreements.

Operating Expenses. Total operating expenses for the six months ended June 30, 2025, were $208,352, compared to $230,912 for the same period in 2024, as shown below.

  For the six months ended June 30,              2025                   2024               
 ───────────────────────────────────────────────────────────────────────────────────────────
  Accounting and professional fees               $          77,349      $          79,042  
  Wages and benefits                                        92,072                111,072  
  Public company related and filing fees                    11,885                 14,063  
  Other general and administrative expenses                 27,046                 26,735  
                                                 $         208,352      $         230,912  

Accounting and professional fees were consistent in both six-month periods. The decrease in wages and benefits was attributable to higher stock-based compensation expense recognized during the six months ended June 30, 2024, compared to the same period in 2025. Public company and filing fees decreased due to lower EDGAR filing and transfer agent costs in 2025 relative