Company: AHRO
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001477932-25-002774
Chunk: 208

Company: Authentic Holdings, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 12
Chunk 208
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 with a face value of $447,150 were in default. Accrued Compensation The Company had $588,751 and $501,250 in accrued compensation due to current and former management on December 31, 2024, and 2023, respectively.  Management has waived compensation for the nine months ended September 30, 2024, and year ended December 31, 2023. Beginning in October 2024, the Company began accruing a salary expense of $350,000 per annum for the Chris Giordano, the Company President.

 F-19Table of Contents

Total increase of $26,422 compared to previous year’s total related party loans of $870,483 primarily due to accrued interest for the year ended December 31, 2024.

NOTE 8 – LEASES The Company’s right-of-use assets under operating lease for an office premises expired on October 1 and the lease was not renewed. There are no lease liabilities balances as of December 31, 2024. The company currently does not have any long-term operating lease. Our operating lease expenses amounted to $0 and $0 for the years ended December 31, 2024 and 2023, respectively.

NOTE 9 – INCOME TAXES The Company provides for income taxes under ASC 740, “Income Taxes.” Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax basis of assets and liabilities and the tax rates in effect when these differences are expected to reverse. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations. The components of the Company’s deferred tax asset and reconciliation of income taxes computed at the statutory rate to the income tax amount recorded as of December 31, 2024, and 2023, are as follows:   December 31,  December 31,   2024  2023 Net operating loss carryforward $39,358,905  $38,038,768 Effective tax rate  21%  21%Deferred tax asset  8,265,370   7,988,141 Less: Valuation allowance $(8,265,370 ) $(7,988,141 )Net deferred asset $-  $-  As of December