Company: FMHS
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001096906-25-001317
Chunk: 14

Company: FARMHOUSE, INC. /NV
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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 July 16, 2025, the Board of Directors of the Company approved the issuance of a Restricted Stock Award (“ RSA”) under the Company’s 2021 Omnibus Incentive Plan to Lang Financial Services, Inc. (“ LFSI”), an entity controlled by the Company’s Chief Financial Officer. The RSA consists of 400,000 shares of the Company’s common stock and was granted in recognition of the CFO’s continued service and increased responsibilities related to audit preparation, SEC filings, and support for proposed merger and acquisition transactions. The shares are subject to the terms and conditions of the Company’s 2021 OIP and the applicable RSA agreement.

ITEM 2. MANAGEMENT’ S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our unaudited financial statements and related notes included in this Quarterly Report on Form 10-Q, as well as our audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2024. This discussion contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those expressed or implied in these forward-looking statements due to various factors in our Form 10-K and other filings with the Securities and Exchange Commission.

Overview

We are a Nevada corporation focused on technology and brand development. We operate through our wholly owned subsidiaries, including Farmhouse Washington and Farmhouse DTLA, Inc. We hold a portfolio of intellectual property assets, including domains and assorted trademarks. We are currently focused on strategic acquisitions to leverage our public company platform and enhance shareholder value.

Share Exchange Agreement with Thrown, LLC

On September 10, 2024, we entered into a Share Exchange Agreement (“ SEA”) with Thrown, LLC (“ Thrown”) and its members. Thrown is a beverage company and its initial product is Good Game by T-Pain, a nootropic esports beverage packaged in 2-ounce servings. Under the SEA, the Company will acquire all the membership interests of Thrown in exchange for 5,130,000 newly issued shares of common stock. As of the date of this report, the transaction has not closed, and discussions with Thrown management are ongoing.

Proposed Acquisition of Ledgewood Holdings, LLC

On June 9, 2025, we entered into a non-binding term sheet with Ledgewood Holdings, LLC (“ Ledgewood”), a multi-unit franchise operator with