Company: AHRO
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001477932-25-006087
Chunk: 93

Company: Authentic Holdings, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 93
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 30, 2025 and 2024, the Company recognized $12,524 and $3,379 in accrued royalties, respectively. During the six months ended June 30, 2024, the Company received proceeds of $55,000 from a convertible note, maturing in 2025.  The note bears interest 10%, with a penalty rate of 24%.  This note is convertible at a fixed conversion price of $0.0005, unless in default.  Provided that an Event of Default is continuing for not less than 21 days, the Holder may elect to use the lower of (i) the Fixed Price of $0.0005 or (ii) the lowest traded price of the Company Common Stock during the prior 21-day trading period. 

 19Table of Contents

On June 30, 2025, convertible notes with face values of $1,542,827 were in default. Secured Promissory Notes The following table summarizes notes that are secured by the assets of the Company:   June 30,  December 31,   2025  2024 Principal balances $99,000  $116,500 Accrued Interest  4,040   3,061 Repayments  (14,000)  (17,500)  $89,040  $102,061  During 2024, the Company entered into two secured promissory notes totaling $76,500.  The notes do not bear interest and no stated maturity date. During the six months ended June 30, 2025, the Company repaid $14,000 of the principal amounts due on these notes. On June 30, 2023, the Company entered into a secured promissory note for $40,000.  The note bears interest at 5% per annum and was due on December 31, 2023.  The maturity date was subsequently extended to October 4, 2025.  The Company granted a security interest in all its assets to the noteholder.   Self-Liquidating Promissory Notes Self-liquidating promissory notes consist of various notes accruing interest at 5%. The following summarizes these notes:   June 30,  December 31,   2025  2024 Principal balances $100,000