Company: AHRO
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001477932-25-006087
Chunk: 113

Company: Authentic Holdings, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 113
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 use any funds for investing activities during the six months ended June 30, 2024.

Financing activities

Net cash provided by or (Used in) financing activities for the six months ended June 30, 2025, and 2024 was $(858) and $120,116, respectively, consisting of the following:

  2025  2024 Bank overdraft $240  $(1,626)Proceeds from Series Z Preferred Stock  15,000   - Proceeds from advances from related parties  20,000   14,831 Proceeds from promissory notes  -   90,480 Proceeds from secured promissory notes  -   72,500 Repayment of secured promissory notes  (14,000)  - Proceeds from convertible notes, net of cash discounts  50,000   100,000 Repayments of advances from related parties  (56,198)  (68,819)Repayment of promissory notes  (2,000)  (42,500)Repayment of convertible notes  (19,500)  (44,750)Debt issuance cost  5,600   -   $(858) $120,116 

Going Concern

The accompanying financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. 

We have incurred losses since inception, resulting in accumulated deficits of $40,383,043 and $39,358,905 at June 30, 2025 and December 31, 2024, respectively, a working capital deficit of $6,231,539 and $5,324,664 as of June 30, 2025 and December 31, 2024, respectively, and future losses are anticipated. We also have debt that is currently in default. These factors, among others, raise substantial doubt about our ability to continue as a going concern.

The ability of our company to continue our operations as a going concern is dependent on management’s plans, which include the raising of capital through debt and/or equity markets with some additional funding from other traditional financing sources, including term notes, until such time that funds provided by operations are sufficient to fund working capital requirements.

Limited Operating History; Need for Additional Capital

There is no historical financial