Company: AHRO
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001477932-25-002774
Chunk: 29

Company: Authentic Holdings, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 1
Chunk 29
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 growth. The increase in operating expenses was offset by decreases in professional fees and research and development expenses. The detail of expenditures by major category is reflected in the table below. 

  Year EndedDecember 31,2024  Year EndedDecember 31,2023        General and Administrative $377,267   173,072 Depreciation and Amortization  524,858   300,635 Professional and Legal Fees  90,668   130,345 Research and Development  4,427   56,858 Total Operating Expenses $997,220   660,910 

Operating expenses increased by $336,310, or 50%, during the year ended December 31, 2024, compared to the year ended in 2023. Listed below are the major changes to operating expenses:

General and administrative expenses increased by $204,000, or 118%, for the year ended December 31, 2024, compared to the year ended in 2023. The increase resulted from increased royalty of $87,000 due under the terms of the Maybacks acquisition agreement and increased salary expense of $88,000. 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 $224,000, or 75%, for the year ended December 31, 2024, compared to the year ended in 2023, primarily due to the amortization of the customer list related to the Maybacks acquisition and the license agreement executed with Goliath.

Professional and legal fees decreased by $40,000, or 30%, for the year ended December 31, 2024, compared to the year ended in 2023, primarily due to a decrease of $52,000 in other consulting fees which were offset by an increase in audit fees of $24,000.

Research and development decreased by $52,000, or 92%, for the year ended December 31, 2024, compared to the year ended in 2023, primarily due to the development of blockchain built out and NFT platform service product lines were completed during 2023.

Other Income (Expenses)

Other expenses were $594,210 for the year ended December 31, 2024, compared to $997,545 for the year ended in 2023. During