Company: AHRO
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001477932-25-003767
Chunk: 110

Company: Authentic Holdings, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 110
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 1,750,000   1,752,450   $5,775  $4,125,000  $4,130,775 

 18Table of Contents

NOTE 7 – RELATED PARTY TRANSACTIONS On March 31, 2025 and December 31, 2024, the Company had accumulated balances due its President, Chris Giordano and its CEO, Paul Serbiak in the amounts of $446,583 and $479,533, respectively. During the three months ended March 31, 2025 and 2024, the Company repaid $32,951 and $41,325, respectively, of the balances due to its President, Chris Giordano. Promissory Notes Payable – related party On June 18, 2019, the Company issued a promissory note at a principal amount of $447,150 as part of the consideration for the acquisition of assets from AH Originals, Inc., a corporation controlled by the same owner-group of Global Fiber Technologies, Inc. The promissory note bears 3% interest per annum and has a one-year term with eight options to extend the maturity date for three-month periods. Accrued interest on March 31, 2025 and December 31, 2024, amounted to $78,577 and $75,224, respectively. Convertible Notes Payable – related party  In August 2015, the Company issued an unsecured promissory note to an investor in the amount of $50,000, convertible to common stock at $1.00 per share. The note bears an interest rate of 8% per annum and matured on August 8, 2016. The note is currently unpaid and in default. The note does not contain a beneficial conversion feature. Accrued interest on March 31, 2025 and December 31, 2024 amounted to $40,193 and $39,568, respectively. Related Party Loans The Company received a loan from its’ CEO Paul Serbiak totaling $210,534. The loan has no stated annual interest rate, but the Company records interest at the annual rate of 3.5%. Accrued interest payable on March 31, 2025 and December 31, 2024 amounted to $73,134 and $71,291, respectively. The Company recorded interest expense of $1,842 during the three