Company: FMHS
Filing Date: 2025-06-23
Form Type: 10-K
Source: 0001096906-25-000995
Chunk: 22

Company: FARMHOUSE, INC. /NV
Filing Date: 2025-06-23
Form: 10-K
Item: Item 8
Chunk 22
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As of December 31, 2024, the Company had not reserved any shares of common stock for future issuance. While the Company is required to reserve shares to satisfy potential conversions of its outstanding convertible note payable (see Note 4) and Series 2023 Notes (see Note 7), those instruments were not convertible as of year-end. The number of shares issuable upon conversion is not currently determinable and will depend on future events, including pricing triggers specified in the respective agreements.

Common Stock Activity

Common stock transactions during the year ended December 31, 2024, were as follows:

·On May 17, 2024, the Board granted Restricted Stock Awards (“ RSAs”) totaling340,000shares of common stock under the 2021 Omnibus Incentive Plan. See Note 9.

·On May 28, 2024, the Company issued62,500shares to an unrelated third party pursuant to a Subscription Agreement at $0.40 per share, resulting in cash proceeds of $25,000.

·On September 6, 2024, the Board granted an RSA of10,000shares of common stock under the 2021 Omnibus Incentive Plan. See Note 9.

·On July 6, 2024, the Company issued187,500shares to Thrown, LLC in connection with the Share Exchange Agreement, valued at $26,175based on the closing price on the OTCQB market. See Note 3.

As a result of these issuances, the Company had17,925,950shares of common stock outstanding as of December 31, 2024.

F-18

FARMHOUSE, INC. AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2024 and 2023

In the prior year ended December 31, 2023, the Company granted Restricted Stock Awards of 250,000 shares of common stock under the Company’s 2021 Omnibus Incentive Plan to a Company director and a consultant. See Note 9. As a result of these transactions, the Company has 17,325,950 shares of common stock outstanding as of December 31, 2023.

NOTE 9 - STOCK-BASED COMPENSATION AND RESTRICTED STOCK AWARDS

In May 2021, the Board of Directors approved the Farmhouse, Inc. 2021 Omnibus Incentive Plan (“2021 OIP”),