Company: AHRO
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001477932-25-002774
Chunk: 1188

Company: Authentic Holdings, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 1A
Chunk 1188
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 of license agreements of $125,000.

Net Loss

We recorded a net loss of $1,320,137 for the year ended December 31, 2024, compared to a net loss of $1,658,455 the year ended in 2023.  

Liquidity and Capital Resources

Since our inception, private placements, convertible notes, and unsecured debt, and we have recently issued debt in our company secured by all of our assets. Our current liabilities on our Condensed Consolidated Balance Sheets above contains, on December 31, 2024, certain debt that is in default, including convertible notes with face values of $1,403,428, secured promissory notes with face values of $102,061, related party promissory notes of of $522,374, Advances from Related Party of $479,533 and Related Party loans and Accrued Interest of $281,825, and self-liquidating promissory notes of $133,333. On December 31, 2024, we have limited cash, a substantial working capital deficit, our revenues have only commenced in 2024 and future losses are anticipated. Additionally, we expect to experience higher interest payments in the future as a result of our outstanding liabilities. If we are unable to generate sufficient revenues and/or additional financing to service this debt, there is a risk the lenders will call the notes, and we will be unable to repay the loans. If this happens, we could go out of business.

Based upon the current financial condition, we do not have sufficient cash to operate our business at the current level for the next twelve months. We intend to fund operations through increased sales and debt and/or equity financing arrangements, which may be insufficient to fund expenditures or other cash requirements. We plan to seek additional financing in a private equity offering to secure funding for operations. There can be no assurance that we will be successful in raising additional funding. If we are not able to secure additional funding, the implementation of our business plan will be impaired. There can be no assurance that such additional financing will be available to us on acceptable terms or at all.

 22Table of Contents

The following is a summary of the cash and cash equivalents as of December 31, 2024, and 2023.

  December 31,2024  December 31,2023  $ Change  % Change Cash and cash equivalents $5,890  $-  $5