Company: FMHS
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001096906-25-001826
Chunk: 20

Company: FARMHOUSE, INC. /NV
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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  Other general and administrative expenses                 40,604                 39,064  
                                                 $         303,011      $         323,736  

Accounting and professional fees were consistent in both nine-month periods. The decrease in wages and benefits was attributable to higher stock-based compensation expense recognized during the nine months ended September 30, 2024, compared to the same period in 2025. Public company and filing fees decreased due to lower EDGAR filing and transfer agent costs in 2025 relative to 2024. Other general and administrative expenses remained stable between the periods.

Gain on Extinguishment of Debt. On March 31, 2025, accrued legal fees and finance charges totaling $424,930 were converted into a new Series 2025 Note in the face amount of $250,000. Accordingly, we recorded a gain on extinguishment of debt of $174,930 for the nine months ended September 30, 2025.

Interest Expense. Interest expense for the nine months ended September 30, 2025 was $46,778 compared to interest expense of $40,927 for the same period in 2024. The increase was due to new borrowings.

Net Loss. Net loss for the nine months ended September 30, 2025, was $174,854, compared to a net loss of $362,383 for the same period in 2024. The gain on extinguishment of debt of $174,935 attributed to the change for the nine months ended September 30, 2025. Additionally, there was reduced stock-based compensation costs during the nine months ended September 30, 2025, as mentioned above.

Three Months Ended September 30, 2025 Compared to Three Months Ended September 30, 2024.

Revenue. No revenues were generated for the three months ended September 30, 2025 and 2024.

Operating Expenses. Total operating expenses for the three months ended September 30, 2025, were $94,659, compared to $92,824 for the same period in 2024, as shown below.

  For the three months ended September 30,       2025                  2024              
 ─────────────────────────────────────────────────────────────────────────────────────────
  Accounting and professional fees               $         27,646      $         25,220  
  Wages and benefits                                       46,036                46,036  
  Public company related and filing