Company: FMHS
Filing Date: 2025-06-23
Form Type: 10-K
Source: 0001096906-25-000995
Chunk: 19

Company: FARMHOUSE, INC. /NV
Filing Date: 2025-06-23
Form: 10-K
Item: Item 8
Chunk 19
---
 Company. The notes have not been registered under the Securities Act of 1933, as amended, and the holders have represented that they are acquiring the notes for investment purposes only and not with a view to distribution.

Interest expense related to these notes was $2,925for the year ended December 31, 2024 and accrued interest was $2,925as of December 31, 2024. As of June 20, 2025, the date of this report, the notes are in default.

NOTE 6 - DUE TO RELATED PARTIES

Due to related parties is comprised of the following:

  December 31,                                     2024                   2023               
 ─────────────────────────────────────────────────────────────────────────────────────────────
  Loans from Company officers                                 69,549                28,958   
  Accrued liability to contracted CFO                        218,000                170,000  
  Note Payable to Officer                                      4,500                -        
  Accrued interest on Note Payable to Officer                    348                -        
  Due to related parties                           $         292,397      $         198,958  

As of December 31, 2024 and 2023, loans from Company officers totaled $69,549and $28,958, respectively. These amounts represent cash advances made by Company officers to fund operating expenses and direct payments made by Company officers on behalf of the Company. All amounts due to related parties are non-interest bearing and unsecured. During the year ended December 31, 2024, Company officers advanced a total of $41,758to the Company. Repayments during the year totaled $1,167, all of which were made through officers’ personal charges to the Company’s credit card; no cash repayments were made. During the year ended December 31, 2023, Company officers advanced $10,761to the Company and received repayments totaling $26,685, of which

F-16

FARMHOUSE, INC. AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2024 and 2023

$3,315were repaid via officers’ personal charges to the Company’s credit card and $23,370were repaid in cash.

The Company’s Chief Financial Officer is contracted and is not a W-2 employee. During the year ended December 31, 2024 the Company expensed the following