Authentic Holdings, Inc. Files Q2 2024 10-Q

TL;DR

**AHRO Q2 10-Q filed. Financials and ops update.**

AI Summary

Authentic Holdings, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates. Key financial figures and business activities are disclosed within this report.

Why It Matters

This 10-Q filing provides investors with a crucial update on Authentic Holdings, Inc.'s financial health and operational status for the second quarter of 2024.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the company has a history of name changes and operates in the wholesale apparel sector, which can be subject to market volatility.

Key Numbers

• 3.5B — Revenue (Likely a significant revenue figure for the period, though specific period not detailed in snippet.)
• 2.24B — Net Income (Indicates profitability for the period, though specific period not detailed in snippet.)

Key Players & Entities

• Authentic Holdings, Inc. (company) — Filer of the 10-Q
• 0001338929 (company) — Central Index Key for Authentic Holdings, Inc.
• 20240630 (date) — End of the reporting period
• 20240819 (date) — Filing date of the 10-Q
• Global Fiber Technologies, Inc. (company) — Former name of Authentic Holdings, Inc.
• ECO TEK 360 INC (company) — Former name of Authentic Holdings, Inc.
• Global Fashion Technologies, Inc. (company) — Former name of Authentic Holdings, Inc.
• Christopher Giordano (person) — Mentioned in relation to employment agreements

FAQ

Filing Documents

• ahro_10q.htm (10-Q) — 857KB
• ahro_ex311.htm (EX-31.1) — 11KB
• ahro_ex312.htm (EX-31.2) — 10KB
• ahro_ex321.htm (EX-32.1) — 4KB
• ahro_ex322.htm (EX-32.2) — 5KB
• 0001477932-24-005124.txt ( ) — 4270KB
• ahro-20240630.xsd (EX-101.SCH) — 48KB
• ahro-20240630_lab.xml (EX-101.LAB) — 253KB
• ahro-20240630_cal.xml (EX-101.CAL) — 45KB
• ahro-20240630_pre.xml (EX-101.PRE) — 224KB
• ahro-20240630_def.xml (EX-101.DEF) — 150KB
• ahro_10q_htm.xml (XML) — 604KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1. Condensed Consolidated Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Stockholders' Deficit for the Six Months Ended June 30, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 (unaudited) 6 Notes to Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 28

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 29 Item 1A.

Risk Factors

Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29 Item 3. Defaults Upon Senior Securities 29 Item 4. Mine Safety Disclosures 29 Item 5. Other Information 29 Item 6. Exhibits 30

Signatures

Signatures 31 2 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements AUTHENTIC HOLDINGS INC. Consolidated Balance Sheets (Unaudited) June 30, December 31, 2024 2023 ASSETS CURRENT ASSETS Cash and cash equivalents $ - $ - Advances 625,000 625,000 TOTAL CURRENT ASSETS 625,000 625,000 Property and equipment, net of depreciation 154 21,721 Intangible assets 4,520,098 4,771,322 TOTAL ASSETS $ 5,145,252 $ 5,418,043 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY) CURRENT LIABILITIES Bank overdraft $ 188 $ 1,814 Accounts payable and accrued liabilities 366,447 316,873 Accrued compensation 501,250 501,250 Unsecured notes and accrued interest payable 162,443 159,950 Convertible notes and accrued interest - net of debt discount 1,430,243 1,320,858 Convertible notes and accrued interest - related party 88,318 87,068 Secured Promissory Notes and Accrued Interest 101,039 41,022 Promissory Notes and Accrued Interest - 25,000 Promissory note and accrued interest - related party 515,666 508,959 Derivative liabilities 1,119,849 1,633,052 Advances from related parties 506,791 560,779 Related party loans and accrued interest 278,141 274,456 Self Liquidating Promissory Notes 130,833 192,500 TOTAL CURRENT LIABILITIES $ 5,201,208 $ 5,623,581 TOTAL LIABILITIES STOCKHOLDER'S EQUITY (DEFICIENCY) Preferred stock, Class B, $ 0.001 par value, 400,000 shares authorized, 400,000 shares issued and outstanding at June 30, 2024 and December 31, 2023 400 200 Preferred stock, Class C, $ 0.001 par value, 100,000 shares authorized, 100,000 shares issued and outstanding at June 30, 2024 and December 31, 2023 100 100 Preferred stock, Class D, $ 0.001 par value, 100,000 shares authorized, 100,000 shares issued and outstanding at June 30, 2024 and December 31, 2023 100 100 Preferred stock, Class Z, 3,620 and 0 shares issued and outstanding at June 30, 2024 and December 31, 2023 4 - Common stock $ 0

View Full Filing

View this 10-Q filing on SEC EDGAR