Company: AHRO
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001477932-25-006087
Chunk: 89

Company: Authentic Holdings, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 89
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 in cash using the same formula. On April 29, 2025, the Company signed and closed an Asset Purchase Agreement with Goliath Motion Picture Promotions to formally acquire the assets previously licensed. In consideration therefore, the Purchase Agreement provided that the Goliath shall exchange its 100,000 shares of Series D Preferred Stock for 100,000 shares of the Company’s newly established Series F Preferred Stock. On June 30, 2025 and December 31, 2024, there were 0 and 100,000 shares of Series D Preferred Stock issued and outstanding, respectively. Series F Preferred Stock On May 1, 2025, the Board of Directors created, out of the available shares of preferred stock, par value $0.001 per share, a series of preferred stock known as “Series F Preferred Stock” consisting of 100,000 shares. Under the terms of the Certificate of Designation for the Series F Preferred Stock, the Series F Preferred shares, among other terms and conditions, shall:  (i) not accrue nor pay dividends except as declared by the board of directors in their sole discretion.  (ii) The Series F Preferred Stock shall not have voting rights except as it pertains to altering the rights associated with the Series F Preferred Stock.  (iii) The Series F Preferred Stock shall have a stated value of $110 (the “Stated Value”) for each share of Series F Preferred Stock before any distribution or payment shall be made to the holders of any common stock, Series B Preferred Stock or Series C Preferred Stock, but after any distribution or payment on account of the Series D Preferred Stock and the Series E Preferred Stock, and if the assets of the Corporation shall be insufficient to pay in full such amounts, then the entire assets to be distributed to the holders of Series F Preferred stock, after payment to the Series D Preferred Stock and Series E Preferred Stock, shall be ratably distributed among them in accordance with the respective amounts that would be payable on such shares if all amounts payable thereon were paid in full (the “Liquidation Preference”). The Liquidation Preference is payable after all indebtedness of the Corporation. (iv) The holders of Series F Preferred Stock shall convert their shares into common stock as follows: a. Each share of Series F Preferred Stock shall be convertible, at any time after three years of the Original Issue Date or immediately in the event of a Change in Control at the option of the Holder