Company: AHRO
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001477932-25-002774
Chunk: 955

Company: Authentic Holdings, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 9
Chunk 955
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On December 31, 2024, convertible notes with face values of $1,403,428 were in default.

 F-16Table of Contents

Secured Promissory Note During 2024, the Company entered into two secured promissory notes totaling $76,500.  The notes do not bear interest and no stated maturity date. During the year ended December 31, 2024, the Company repaid a total of $17,500 of the principal amounts due on the two secured promissory notes. On June 30, 2023, the Company entered into a secured promissory note for $40,000.  The note bears interest at 5% per annum and was due on December 31, 2023.  The maturity date was subsequently extended to October 4, 2025.  The Company granted a security interest in all its assets to the noteholder. On December 31, 2024, and 2023, the Company had $3,061 and $1,022, respectively, in accrued interest on the secured promissory note. The following notes are secured by the assets of the Company on December 31:   2024  2023 Secured Notes Payable $116,500  $40,000 Accrued Interest  3,061   1,022 Repayments  (17,500)  -   $102,061  $41,022  Self-Liquidating Promissory Notes Self-liquidating promissory notes consist of various notes accruing interest at 5%.  The following summarizes these notes:   December 31,2024  December 31,2023 Self-liquidating promissory notes $100,000  $150,000 Accrued interest  33,333   42,500   $133,333  $192,500 

NOTE 5 – DERIVATIVE LIABILITIES The Company analyzed the conversion option for derivative accounting consideration under ASC 815, “Derivatives and Hedging,” and determined that the convertible notes should be classified as a liability since the conversion option becomes effective at issuance resulting in there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options. The Company accounts for convertible notes and warrants as a derivative liability due to there being no