Company: AHRO
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001477932-25-003767
Chunk: 74

Company: Authentic Holdings, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 74
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 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. 

The Company has recently signed a “Revenue Sharing Agreement” with LIME X a very large global distributor of content. They will be marketing our iDreamCTV app to their 100,000,000 plus download audience. We expect the launch of this platform in May of 2025. 

Operating Expenses

Operating expenses increased from $245,358 for the three months ended March 31, 2024, to $417,684 for the three months ended March 31, 2025. 

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Overall, this increase resulted primarily from the amortization of license agreements we entered with Goliath, and to a lesser extent from our efforts to acquire Maybacks and the assets of Goliath, and to build out our organization to establish a strong base for current and future growth. The detail of expenditures by major category is reflected in the table below. 

  Three Months Ended March 31,   2025  2024 General and Administrative $242,718  $58,904 Depreciation and Amortization  140,715   136,143 Professional and Legal Fees  31,751   49,294 Research and Development  2,500   1,017 Total Operating Expenses $417,684  $245,358 

Operating expenses increased in the amount of $172,326 for the three months ended March 31, 2025, compared to the three months ended March 31, 2024. 

General and administrative expenses increased by $183,814 for the three months ended March 31, 2025, compared to the three months ended March 31, 2024. The increase resulted primarily from increased royalty of $35,510 due under the terms of the Maybacks acquisition agreement and increased salary expense of $87,500. 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 $4,