Company: AHRO
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001477932-25-002774
Chunk: 1155

Company: Authentic Holdings, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 8
Chunk 1155
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-use assets under operating lease for an office premises expired on October 1 and the lease was not renewed. There are no lease liabilities balances as of December 31, 2024. The company currently does not have any long-term operating lease. Our operating lease expenses amounted to $0 and $0 for the years ended December 31, 2024 and 2023, respectively.

NOTE 9 – INCOME TAXES The Company provides for income taxes under ASC 740, “Income Taxes.” Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax basis of assets and liabilities and the tax rates in effect when these differences are expected to reverse. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations. The components of the Company’s deferred tax asset and reconciliation of income taxes computed at the statutory rate to the income tax amount recorded as of December 31, 2024, and 2023, are as follows:   December 31,  December 31,   2024  2023 Net operating loss carryforward $39,358,905  $38,038,768 Effective tax rate  21%  21%Deferred tax asset  8,265,370   7,988,141 Less: Valuation allowance $(8,265,370 ) $(7,988,141 )Net deferred asset $-  $-  As of December 31, 2024, the Company had approximately $39 million in net operating losses (“NOLs”) that may be available to offset future taxable income, which begin to expire between 2029 and 2039. NOLs generated in tax years prior to December 31, 2017, can be carryforward for twenty years, whereas NOLs generated after December 31, 2017, can be carryforward indefinitely. In accordance with Section 382 of the U.S. Internal Revenue Code, the usage of the Company’s net operating loss carry forwards is subject to annual limitations following greater than 50% ownership changes. Tax returns for the years ended 2019 through 2024 are subject to review by the tax authorities.

NOTE 10 – COMMITMENTS AND CONTINGENCIES Litigation The Company is a party to the following three pending litigation matters. The