Company: AHRO
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001477932-25-002774
Chunk: 614

Company: Authentic Holdings, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 4
Chunk 614
---
 Customer lists  7,000   7,000 Patent  12,406   12,406 Websites  11,690   10,690 Royalties  125,000   125,000    5,171,096   5,155,096 Less accumulated amortization  (886,911 )  (383,774 )  $4,284,185  $4,771,322  During 2024, the Company entered into a license agreement with the Salci Sports and Entertainment Group for a cash payment of $15,000 and acquired a website from Authentic Heroes for a cash payment of $1,000. Amortization expense amounted to $503,137 and $254,151 for the year ended December 31, 2024, and 2023, respectively.  Revenue Recognition The Company recognizes revenue from its customer contracts following ASC 606 – Revenue from Contracts with Customers. The Company recognizes revenues when satisfying the performance obligation of the associated contract that reflects the consideration expected to be received based on the terms of the contract. Revenue related to contracts with customers is evaluated utilizing the following steps:  1.Identify the contract, or contracts, with a customer. 2.Identify the performance obligations in the contract. 3.Determine the transaction price. 4.Allocate the transaction price to the performance obligations in the contract. 5.Recognize revenue when the Company satisfies a performance obligation. The Company earns revenue from the sale of advertising on our owned Maybacks network.  The Company recognizes revenue through two channels: The Company has contracted with an agent who manages the contracting, billing and placement of ads. We have determined that a contract exists for our advertising sales arrangements once all terms and conditions are agreed upon, typically when the number of advertising units is specifically identified and scheduled by our agent. As the placement of ads is managed by an independent agent, revenue from these arrangements is recognized upon collection and remittance by our agent. The Company has contracted with various advertising agencies, whom the Company directly bills for ads placed. The Company tracks the ad placement and bills the advertising agencies monthly. Revenues are recognized for these ads upon completion of the ad on the Company’s network. The Company recorded revenue of $398,600 during the year ended 2024 and recorded no revenue during the year ended December 31, 2023. Accounts