Company: AHRO
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001477932-25-002774
Chunk: 1190

Company: Authentic Holdings, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 1A
Chunk 1190
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, 2023.

 23Table of Contents

Financing activities

Net cash provided in financing activities for the year ended December 31, 2024 and 2023 was $148,609 and $227,228, respectively, consisting of the following:

Year ended December 31, 2024  2023 Bank overdraft $(1,626) $1,508 Net advances from related parties  (81,245 )  17,790 Repayment of promissory notes  (42,500)  25,000 Proceeds from secured promissory notes  72,500   40,000 Proceeds from issuance of common stock and warrants  119,030   35,000 Proceeds from common stock issuable  15,700   - Net proceeds from convertible notes  49,750   107,930 Proceeds from Series Z Preferred Stock  17,000   - Net cash provided by financing activities $148,609  $227,228 

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.

We have incurred losses since inception, resulting in accumulated deficits of $39,358,905 and $38,038,768 at December 31, 2024 and 2023, respectively, a working capital deficit of $5,324,665 and $4,998,581 as of December 31, 2024, and 2023, respectively, and future losses are anticipated. We also have debt that is currently in default. These factors, among others, raise substantial doubt about our ability to continue as a going concern.

The ability of our company to continue our 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.

 24Table of Contents

Limited Operating History; Need for Additional Capital

There is no historical financial information about us upon which to base an evaluation of our performance. We are a development stage company and have