Company: AHRO
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001477932-25-006087
Chunk: 41

Company: Authentic Holdings, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 Each share of Series D Preferred Stock shall be convertible, at any time after three years of issuance or immediately in the event of a change in control at the option of the Holder thereof, into that number of shares of common stock (subject to a beneficial ownership limitation of up to 9.99%) determined by dividing the Stated Value by the Conversion Price, which is closing price of the common stock of the Company on the OTC, on the day immediately prior to the conversion. The Company has the right to redeem the Series D Preferred Stock after five years by making a payment of cash equal to 106% of the sum of an amount equal to the total number of Series D Preferred Stock held by the Holder multiplied by the Stated Value. In the event of a change in control, the company shall redeem the outstanding shares of Series D Preferred Stock by making payment 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