Company: FMHS
Filing Date: 2025-07-22
Form Type: 10-Q
Source: 0001096906-25-001169
Chunk: 13

Company: FARMHOUSE, INC. /NV
Filing Date: 2025-07-22
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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 subsequent to March 31, 2025:

·$25,000 issued to an unrelated individual on April 16, 2025.

·$25,000 issued to the spouse of a Company director on April 18, 2025. This note was issued on the same terms as those offered to unaffiliated investors and was executed on an arm’s length basis.

·$12,500 issued to an unrelated individual on April 21, 2025.

·$12,500 issued to an unrelated individual on April 28, 2025.

·$10,000 issued to an unrelated individual on June 23, 2025.

Proposed Acquisition of Ledgewood Holdings, LLC

As discussed in Note 1, on June 9, 2025, the Company entered into a non-binding term sheet with Ledgewood Holdings, LLC (“ Ledgewood”), a multi-unit franchise operator with approximately $31 million in trailing twelve-month revenue. The term sheet contemplates the acquisition of Ledgewood by the Company through the issuance of up to 31,000,000 shares of the Company’s common stock. The term sheet is non-binding and subject to the execution of definitive agreements, and accordingly, as of the date of this report, there can be no assurance that the transaction will be consummated on the terms proposed or at all.

Restricted Stock Award Issuances

On July 16, 2025, the Board of Directors of the Company approved the issuance of a Restricted Stock Award (“ RSA”) under the Company’s 2021 Omnibus Incentive Plan to Lang Financial Services, Inc. (“ LFSI”), an entity controlled by the Company’s Chief Financial Officer. The RSA consists of 400,000 shares of the Company’s common stock and was granted in recognition of the CFO’s continued service and increased responsibilities related to audit preparation, SEC filings, and support for proposed merger and acquisition transactions. The shares are subject to the terms and conditions of the Company’s 2021 OIP and the applicable RSA agreement.

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 in conjunction 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.