Company: FMHS
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0001096906-25-000588
Chunk: 31

Company: FARMHOUSE, INC. /NV
Filing Date: 2025-04-25
Form: 10-Q
Item: Part II, Item 2
Chunk 31
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ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

During the nine months ended September 30, 2024, we issued:

·340,000 shares of common stock on May 17, 2024, pursuant to Restricted Stock Awards granted under the 2021 Omnibus Incentive Plan;

·62,500 shares of common stock on May 28, 2024, to an unrelated third party under a Subscription Agreement at $0.40 per share, for cash proceeds of $25,000;

·10,000 shares of common stock on September 6, 2024, pursuant to a Restricted Stock Award under the 2021 Omnibus Incentive Plan; and

·187,500 shares to Thrown on July 6, 2024, pursuant to the SEA with Thrown.

Reference is made to Note 9 to the interim condensed consolidated financial statements included under Item 1 of this Report for additional information.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

As of April 25, 2025, the date of this report, we were in default under the following promissory notes:

·$45,000 convertible note issued to an unrelated individual, matured in July 2018, and remains unpaid.

·$50,000 loan agreement entered into with an unrelated individual in 2021; the maturity date may be extended at the lender’s discretion, but the loan remains in default.

·$4,500 related party note issued to our Chief Executive Officer, matured in February 2025, and remains unpaid.

·$5,000 note issued to an unrelated individual, matured in October 2024, and remains unpaid.

·$5,000 note issued to an unrelated individual, matured in October 2024, and remains unpaid.

·$11,667 note issued to an unrelated individual, matured in January 2025, and remains unpaid.

·$5,500 note issued to an unrelated individual, matured in February 2025, and remains unpaid.

·$8,400 note issued to an unrelated individual, matured in March 2025, and remains unpaid.

These defaults may impact our ability to obtain future financing and could result in potential legal action by noteholders. Reference is made to Notes 4, 5, and 6 to the interim condensed consolidated financial statements included under Item 1 of this Report for additional information.

ITEM