Company: AHRO
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001477932-25-006087
Chunk: 45

Company: Authentic Holdings, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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12%, with a penalty rate of 24%.  This note is not convertible, unless the note is in default, and then at a fixed conversion price of $0.0016, unless the Company’s stock trades below $0.0013 for three consecutive days, then the fixed conversion price shall be $0.0009. During the six months ended June 30, 2024, the Company received proceeds of $50,000 from two convertible promissory notes, maturing in 2026. The notes bear interest of 18%, with a penalty rate of 25%. These notes are convertible at a fixed conversion price of $0.0005.  Thes agreements include royalty agreements for Maybacks, wherein the Company agrees to pay 2.50% of gross sales.  During the six months ended June 30, 2025 and 2024, the Company recognized $12,524 and $3,379 in accrued royalties, respectively. During the six months ended June 30, 2024, the Company received proceeds of $55,000 from a convertible note, maturing in 2025.  The note bears interest 10%, with a penalty rate of 24%.  This note is convertible at a fixed conversion price of $0.0005, unless in default.  Provided that an Event of Default is continuing for not less than 21 days, the Holder may elect to use the lower of (i) the Fixed Price of $0.0005 or (ii) the lowest traded price of the Company Common Stock during the prior 21-day trading period. 

 19Table of Contents

On June 30, 2025, convertible notes with face values of $1,542,827 were in default. Secured Promissory Notes The following table summarizes notes that are secured by the assets of the Company:   June 30,  December 31,   2025  2024 Principal balances $99,000  $116,500 Accrued Interest  4,040   3,061 Repayments  (14,000)  (17,500)  $89,040  $102,061  During 2024, the Company entered into two secured promissory notes totaling $76,500.  The notes do not bear interest and no stated maturity date. During the six months ended