Company: FMHS
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0001096906-25-000588
Chunk: 16

Company: FARMHOUSE, INC. /NV
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 ended September 30,          2024           2023  
 ─────────────────────────────────────────────────────────────────────────
  Accounting and Professional                   $ 25,220       $ 24,708  
  Wages and benefits                              46,036         55,536  
  Consulting fees                                  1,275          5,684  
  Public company related and filing fees.          9,239          6,940  
  Other general and administrative                11,054         13,557  
                                                $ 92,824      $ 106,425  

The decrease was primarily due to lower consulting and stock-based compensation costs, offset by an increase in public company related costs for news releases issued announcing the initial MOU and the SEA with Thrown.

Interest Expense. Interest expense increased slightly for the three months ended September 30, 2024, compared to the same period in 2023, due to interest accrued on new borrowings.

Net Loss. Net loss for the three months ended September 30, 2024, was $107,193, compared to a net loss of $116,358 for the same period in 2023. The improvement was primarily due to reduced operating expenses mentioned above.

Nine Months Ended September 30, 2024 Compared to Nine Months Ended September 30, 2023

Revenue. Revenue for the nine months ended September 30, 2024, was $4,154, compared to $10,707 for the same period in 2023. The decrease reflects our decision to discontinue the NFT licensing business.

Operating Expenses. Total operating expenses for the nine months ended September 30, 2024, were $323,736, compared to $408,447 for the same period in 2023, as shown below:

  For the nine months ended September 30,           2024           2023  
 ─────────────────────────────────────────────────────────────────────────
  Accounting and Professional                  $ 104,262      $ 157,383  
  Wages and benefits                             157,108        166,608  
  Consulting fees                                  3,525         31,302  
  Public company related and filing fees.         23,302         19,778  
  Other general and administrative                35,539         33,376  
                                               $ 323,736      $ 408,447  

The decrease was primarily due to lower consulting and stock-based compensation costs,