Company: FMHS
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001096906-25-001317
Chunk: 13

Company: FARMHOUSE, INC. /NV
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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 awards over the requisite service period. All awards were in the form of Restricted Stock Awards granted under the 2021 Omnibus Incentive Plan. RSAs are valued based on the closing price of the Company’s common stock on the OTCQB market on the date of grant, and expense is recognized as the shares vest. No stock options or other equity instruments were granted during the periods presented.

The following table summarizes RSA activity for the periods presented:

                                     Number of RSAs      Weighted Average Grant Date Fair Value  
  Balance as of January 1, 2025      220,000             $0.076                                  
  Awarded                            -                   $-                                      
  Vested                             85,000              $0.074                                  
  Forfeited                          -                   $-                                      
  Balance as of June 30, 2025        135,000             $0.078                                  

Stock-based compensation expense was $6,290and $35,790for the six months ended June 30, 2025 and 2024, respectively, and $3,145and $19,915for the three months ended June 30, 2025 and 2024, respectively. As of June 30, 2025, the Company had $10,490of unrecognized compensation expense related to non-vested RSAs, which is expected to be recognized over a weighted-average remaining period of approximately 0.93 years. Expense recognition is expected to be $6,290 for the remainder of 2025 and $4,200 in 2026.

NOTE 10 - COMMITMENTS AND CONTINGENCIES

From time to time, the Company may be involved in legal proceedings, claims, or regulatory matters. Management evaluates potential liabilities in consultation with legal counsel and currently does not believe that any existing matters will have a material adverse effect on its financial position or results of operations. The Company also has indemnification agreements with its officers and directors that provide for uncapped indemnity, although the Company believes the likelihood of material payments is remote.

FARMHOUSE, INC. AND SUBSIDIARIES

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2025

(Unaudited)

NOTE 11 - SUBSEQUENT EVENTS

As of the date of this report, there were no subsequent events requiring adjustment or disclosure, except as noted below or disclosed elsewhere in these consolidated financial statements.

Restricted Stock Award Issuance

On