Company: FMHS
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001096906-25-001826
Chunk: 7

Company: FARMHOUSE, INC. /NV
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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 of the notes to unaffiliated individuals bear interest at the stated annual rate, calculated based on the actual number of days elapsed over a 365-day year. All notes are unsecured and provide for acceleration of payment upon the occurrence of customary events of default, including non-payment, insolvency, bankruptcy, or a change of control of the Company. The notes have not been registered under the Securities Act of 1933, as amended, and the holders have represented that they are acquiring the notes for investment purposes only and not with a view to distribution.

On March 31, 2025, two notes in the principal amounts of $11,667and $5,500together with accrued interest of $1,733and $705, respectively, were converted into new series 2025 10% Mandatorily Convertible Notes. See Note 7.

Interest expense on notes payable was $6,302and $3,257for the nine months ended September 30, 2025 and 2024, respectively, and $1,684and $2,123for the three months ended September 30, 2025 and 2024, respectively. Accrued interest was $17,433and $13,569as of September 30, 2025 and December 31, 2024, respectively.

NOTE 6 - DUE TO RELATED PARTIES

Due to related parties is comprised of the following:

                                                        September 30,                   December 31,               
                                                                                                                   
                                                        2025                            2024                       
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Loans from Company officers                           $                   57,777      $                  69,549  
  Accrued liability to contracted CFO                                      254,000                        218,000  
  Note Payable to Officer, in default                                        4,500                          4,500  
  Accrued interest on related party notes                                    2,185                            348  
  Total due to related parties – current                                   318,462                        292,397  
  Convertible note payable to related party – long                          25,000                              -  
  Total due to related parties – long-term                                  25,000                              -  
  Total due to related parties                          $                  343,462      $                 292,397  

As of September 30, 2025 and December 31, 2024, loans from Company officers totaled $57,