Company: FMHS
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001096906-25-001826
Chunk: 17

Company: FARMHOUSE, INC. /NV
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 within 180 days of issuance, or 120% thereafter. In the event of a change of control prior to maturity, the Note becomes immediately due at 120% of the outstanding balance unless the investor elects to convert.

ITEM 2. MANAGEMENT’ S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis of our financial condition and results of operations should be read together with our unaudited financial statements and related notes included in this Quarterly Report on Form 10-Q, as well as our audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2024.

This discussion contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those expressed or implied in these forward-looking statements due to various factors described in our Form 10-K and other filings with the Securities and Exchange Commission.

Overview

We are a Nevada corporation engaged in technology development and brand management activities. We operate through our wholly owned subsidiaries, including Farmhouse Washington, Farmhouse DTLA, Inc., and Farmhouse Treasury, LLC, and hold a portfolio of intellectual property assets consisting primarily of internet domain names and trademarks. Our current strategic focus is to identify and complete acquisitions that enhance long-term shareholder value and to reposition the Company toward opportunities in the digital asset and blockchain sectors.

Share Exchange Agreement with Thrown, LLC

On September 10, 2024, we entered into a Share Exchange Agreement (“ SEA”) with Thrown, LLC (“ Thrown”) and its members. Thrown is a beverage company whose initial product, Good Game by T-Pain, is a nootropic esports beverage sold in 2-ounce servings.

As of the date of this report, the transaction has not closed, and discussions with Thrown management are ongoing. We continue to evaluate the commercial prospects of the Thrown brand relative to other strategic priorities.

Proposed Acquisition of Ledgewood Holdings, LLC

On June 9, 2025, we entered into a non-binding term sheet with Ledgewood Holdings, LLC (“ Ledgewood”), a multi-unit franchise operator generating approximately $31 million in trailing twelve-month revenue. The term sheet contemplated an acquisition of Ledgewood through the issuance of up to 31,000,000 shares of our common stock.

Because the term sheet was non-binding and subject to negotiation of definitive agreements, no binding obligations were created.

In October 2025, after further review, we decided not to pursue