Company: FMHS
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0001096906-25-000588
Chunk: 19

Company: FARMHOUSE, INC. /NV
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

Under the supervision of our Principal Executive Officer and Principal Financial Officer, we evaluated the effectiveness of our disclosure controls and procedures as of September 30, 2024, as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. Based on this evaluation, our officers concluded that our disclosure controls and procedures were not effective as of that date.

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting during the quarter ended September 30, 2024, that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Limitations on Effectiveness

Our controls and procedures are designed to provide reasonable, not absolute, assurance of achieving their objectives. Because of inherent limitations, no control system can prevent all errors or fraud.

PART II - OTHER INFORMATION

None.

ITEM 1. LEGAL PROCEEDINGS

From time to time, we may become involved in legal proceedings, claims, or regulatory matters arising in the ordinary course of business. We assess our potential liability in connection with these matters by analyzing potential outcomes, assuming various litigation and settlement strategies, and consulting with legal counsel. As of April 25, 2025, the date of this report, there were no material pending legal proceedings against us, and we does not believe the outcome of any current claims or legal proceedings will have a material adverse effect on our financial position, results of operations, or cash flows.

In August 2017, our subsidiary, DTLA, entered into a Strategic Consulting Agreement (the “ SCA”) with Los Angeles Farmers, Inc. (“ LAFI”), formerly known as a medical marijuana growing and retail company. In October 2017, DTLA filed litigation in Los Angeles County Superior Court (Case No. BC681251) against LAFI and its principals, seeking to enforce our rights under the SCA. Following a confidential settlement with the principals in January 2020 and a judgment in favor of DTLA against LAFI in April 2021, a court-appointed receiver completed the sale of LAFI in April 2024.

As of April 25, 2025, the date of this report, there has