Company: AHRO
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001477932-25-006087
Chunk: 12

Company: Authentic Holdings, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part II, Item 2
Chunk 12
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On April 29, 2025, the Company signed and closed an Asset Purchase Agreement with Goliath Motion Picture Promotions to formally acquire assets that were previously licensed. In consideration, the Purchase Agreement provided that the Goliath shall exchange its 100,000 shares of Series D Preferred Stock for 100,000 shares of the Company’s newly established Series F Preferred Stock.

These securities were issued pursuant to Section 3(a)(9) of the Securities Act.

During the six months ended June 30, 2025, the Company issued 600 shares of Series Z preferred shares for net proceeds of $15,000.

During the six months ended June 30, 2025, the Company issued 70,245,433 common shares for the following reasons:

Issuance of shares for conversion of debt  17,467,655  $21,555 Shares issued as collateral  31,000,000  $31,000 Debt issuance cost  4,000,000  $5,600 Shares issued in connection with non-cash securities purchase  17,777,778  $- Total  70,245,433  $70,155.00 

During the six months ended June 30, 2024, the Company issued 215,653,484 common shares for conversion of debt valued at $161,336.

These securities were issued pursuant to Section 4(2) of the Securities Act and/or Rule 506 promulgated thereunder. The holders represented their intention to acquire the securities for investment only and not with a view towards distribution. The investors were given adequate information about us to make an informed investment decision. We did not engage in any general solicitation or advertising. We directed our transfer agent to issue stock certificates with the appropriate restrictive legend affixed to the restricted stock in instances where a restrictive legend was required.

Item 3. Defaults Upon Senior Securities

Our current liabilities on our Condensed Consolidated Balance Sheets on June 30, 2025, contain certain debt that is in default, including convertible notes with face values of $1,542,827, related party promissory notes with face values of $497,150 and self-liquidating promissory notes of $135,833. 

On June 30, 2025, we had insufficient cash on hand to repay these notes. None of these notes have been paid, and management has indicated that no demand for payment