Company: AHRO
Filing Date: 2025-11-25
Form Type: 10-Q
Source: 0001477932-25-008590
Chunk: 11

Company: Authentic Holdings, Inc.
Filing Date: 2025-11-25
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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 project with prizes awarded at the end of each contest period which could include free concert tickets, back-stage passes, airfare to and from the concert. 

 7Table of Contents

 Going Concern The accompanying financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should we be unable to continue as a going concern. The Company had virtually no cash as of September 30, 2025 and December 31, 2024; incurred losses since inception, resulting in accumulated deficits of $40,440,662 and $39,358,905 on September 30, 2025 and December 31, 2024, respectively; a working capital deficit of $6,284,026 and $5,324,664 as of September 30, 2025 and December 31, 2024, respectively; and future losses are anticipated. The Company also has debt that is currently in default in the total principal amount of approximately $2.22 million.  These factors, among others, raise substantial doubt about our ability to continue as a going concern. The Company’s ability to continue operations as a going concern is dependent on management’s plans, which include the raising of capital through debt and/or equity markets with some additional funding from other traditional financing sources, including term notes, until such time that funds provided by operations are sufficient to fund working capital requirements.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company's consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in U.S. dollars. The Company uses the accrual basis of accounting and has adopted a December 31 fiscal year-end.  Principles of Consolidation The accompanying consolidated financial statements include all the accounts of the Company and its wholly owned subsidiaries, Maybacks Global Entertainment and Authentic Heroes, Inc. All significant intercompany accounts and transactions have been eliminated.  Cash and Cash Equivalents Cash and cash equivalents include cash on hand and investments in money market funds. The Company considers all highly liquid instruments with an original maturity of 90 days or less at the time of purchase to be cash equivalents. Advances made for inventory purchases During the nine months ended September 30