Company: AHRO
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001477932-25-003767
Chunk: 15

Company: Authentic Holdings, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 15
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Financing activities

Net cash provided in financing activities for the three months ended March 31, 2025, and 2024 was $(44,128) and $67,847, respectively, consisting of the following:

Three months ended March 31, 2025  2024        Proceeds from Unsecured loans   -   83,980 Proceeds from the issuance of Series Z Preferred Stock  15,000   - Proceeds from convertible notes  -   25,000 Bank overdraft  322   (1,808 )Proceeds from Secured Promissory Notes  -   43,000 Repayment of advances from related parties  (32,950 )  (41,325 )Repayment of Secured Promissory Notes  (10,500 )  - Repayment of Promissory Notes  -   (25,000 )Repayment of convertible notes  (16,000 )  (16,000 )Net cash provided by (used in) financing activities $(44,128 ) $67,847 

Going Concern

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. 

We have incurred losses since inception, resulting in accumulated deficits of $40,772,534 and $39,358,905 at March 31, 2025 and December 31, 2024, respectively, a working capital deficit of $6,679,251 and $5,324,664 as of March 31, 2025 and December 31, 2024, respectively, and future losses are anticipated. We also have debt that is currently in default. These factors, among others, raise substantial doubt about our ability to continue as a going concern.

The ability of our company to continue our operations as a going concern is dependent on management’s plans, which include the raising of capital through debt and/or equity markets with some additional funding from other traditional financing sources, including term notes, until such time that funds provided by operations are sufficient to fund working capital requirements.

Limited Operating History; Need for Additional Capital

There is no historical financial information about us upon which to base an evaluation of our performance. We are a development stage company and have only recently generated revenues from operations. We cannot guarantee we will be successful in our business operations. Our