Company: AHRO
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001477932-25-002774
Chunk: 578

Company: Authentic Holdings, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 4
Chunk 578
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 speaking with major distributors of vinyl records as well as Big Box and Mass Merchandisers for a brand new release for Holiday Season 2025 and beyond with most of our offerings of Vinyl being based around theme holidays or seasons such as Valentines Day, Mother’s Day etc. It is our intention to create a vinyl record business beyond any sales of the already created inventory through licensing or the purchasing of music assets. We currently hold an exclusive license on 17,000 Master Recording with Maestro Entertainment. We are currently in the process of expanding the license with them to include streaming and music NFTs.

 21Table of Contents

Operating Expenses

Operating expenses increased from $660,910 for the year ended December 31, 2023, to $997,220 for the year ended December 31, 2024. Overall, this increase resulted from an increase in depreciation and amortization of intangible assets due to the acquisition of Maybacks and the license of Goliath, and, general and administrative expenses, to build out our organization to establish a strong base for current and future growth. The increase in operating expenses was offset by decreases in professional fees and research and development expenses. The detail of expenditures by major category is reflected in the table below. 

  Year EndedDecember 31,2024  Year EndedDecember 31,2023        General and Administrative $377,267   173,072 Depreciation and Amortization  524,858   300,635 Professional and Legal Fees  90,668   130,345 Research and Development  4,427   56,858 Total Operating Expenses $997,220   660,910 

Operating expenses increased by $336,310, or 50%, during the year ended December 31, 2024, compared to the year ended in 2023. Listed below are the major changes to operating expenses:

General and administrative expenses increased by $204,000, or 118%, for the year ended December 31, 2024, compared to the year ended in 2023. The increase resulted from increased royalty of $87,000 due under the terms of the Maybacks acquisition agreement and increased salary expense of $88,000. Beginning in October 2024, the Company began accruing a salary expense of $350,000 per annum for the Chris Giordano, the Company President.

Depreciation and amortization increased by $224,000