Company: AHRO
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001477932-25-006087
Chunk: 81

Company: Authentic Holdings, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 81
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 asset acquisition. Under ASC 805-50, Asset acquisitions shall be recorded at the cost to the acquiring entity.  As the consideration given by the Company was preferred stock, and thus not cash, the cost of the acquisition is the fair value of the preferred stock consideration.  The Company has determined the value of the consideration paid for the Assets to be $10,790,000,

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The following table sets forth the amortization for the intangible assets on June 30, 2025 and December 31, 2024:   June 30,  December 31,   2025  2024 Goliath movie library $10,790,000  $- License agreement - Goliath  -   5,000,000 License agreement - John Legend  5,000   - License agreement - Salci Sports  15,000   15,000 Customer lists  7,000   7,000 Patent  12,406   12,406 Websites  13,090   11,690 Royalties  125,000   125,000    10,967,496   5,171,096 Less accumulated amortization  (155,798)  (886,911)  $10,811,698  $4,284,185  During the six months ended June 30, 2025, the Company entered into a license agreement with John Legend for a cash payment of $5,000, and, incurred $1,400 in cash payments for website buildout costs. During 2024, the Company entered into a license agreement with the Salci Sports and Entertainment Group for a cash payment of $15,000 and acquired a website from Authentic Heroes for a cash payment of $1,000. Amortization expense amounted to $185,554 and $251,224 during six months ended June 30, 2025 and 2024, respectively. The Goliath Movie Library assets are not being depreciated or amortized. Revenue Recognition The Company recognizes revenue from its customer contracts following ASC 606 – Revenue from Contracts with Customers. The Company recognizes revenues when satisfying the performance obligation of the associated contract that reflects the consideration expected to be received based on the terms of the contract. Revenue related to contracts with