Company: FMHS
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001096906-25-001317
Chunk: 1

Company: FARMHOUSE, INC. /NV
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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 report, the transaction has not closed, and discussions with Thrown management are ongoing. See Note 3.

Proposed Acquisition of Ledgewood Holdings, LLC

On June 9, 2025, the Company entered into a non-binding term sheet with Ledgewood Holdings, LLC (“ Ledgewood”), a multi-unit franchise operator with approximately $31 million in trailing twelve-month revenue. The term sheet contemplates the acquisition of Ledgewood by the Company through the issuance of up to 31,000,000 shares of the Company’s common stock. The term sheet is non-binding and subject to the execution of definitive agreements, and accordingly, as of the date of this report, there can be no assurance that the transaction will be consummated on the terms proposed or at all.

Potential Crypto Treasury Strategy

In addition to pursuing strategic acquisitions such as those previously disclosed with Thrown, LLC and Ledgewood Holdings, LLC, management is evaluating potential treasury and capital management strategies involving digital assets, including Bitcoin. The Company has engaged in preliminary discussions with multiple parties, including cryptocurrency financing and investment platforms, regarding possible structures to implement such a strategy. These discussions are exploratory in nature, and no binding agreements or definitive plans have been reached. There can be no assurance that any such strategy will be pursued or implemented, or that it will generate the anticipated benefits.

Going Concern and Management Plans

The accompanying condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern. For the six months ended June 30, 2025, the Company incurred a loss from operations of $208,352and had a stockholders’ deficit of $2,400,166. These conditions raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date these financial statements are issued.

Management intends to address this uncertainty through continued financing from officer loans, third-party borrowings, and equity sales. While no assurance can be given, management believes these sources will provide sufficient liquidity to support operations in the near term.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

This summary of significant accounting policies is presented to assist the reader in understanding and evaluating the Company’s unaudited interim condensed consolidated financial statements. These accounting policies conform to Generally Accepted Accounting Principles (“ GAAP”) in the United States and have been consistently applied in the preparation of these unaudited interim condensed consolidated financial statements.

FARMHOUSE, INC. AND SUBSIDIARIES

NOTES TO THE CONDENSE