Authentic Holdings, Inc. Files Q3 2024 10-Q

TL;DR

AHRO Q3 10-Q filed. Convertible notes & warrants active. Giordano & Paul mentioned.

AI Summary

Authentic Holdings, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported significant financial activities, including convertible notes payable and outstanding warrants. Key personnel mentioned in employment agreements include Christopher Giordano and Paul. The filing covers the fiscal year ending December 31, 2024, with prior period data for 2023.

Why It Matters

This filing provides investors with an update on Authentic Holdings, Inc.'s financial health and operational status for the third quarter of 2024, including details on debt and equity instruments.

Risk Assessment

Risk Level: medium — The filing details financial instruments like convertible notes and warrants, which can introduce financial risk and dilution for shareholders.

Key Numbers

• 3.5B — Convertible Notes Payable (Indicates significant debt financing)
• 42.6M — Warrants (Represents potential future equity dilution)
• 15M — Options (Represents potential future equity dilution)

Key Players & Entities

• Authentic Holdings, Inc. (company) — Filer of the 10-Q
• Christopher Giordano (person) — Mentioned in employment agreements
• Paul (person) — Mentioned in employment agreements
• 0001338929 (company) — Central Index Key for Authentic Holdings, Inc.
• 20240930 (date) — Conformed period of report
• 20241119 (date) — Filed as of date

FAQ

Filing Documents

• ahro_10q.htm (10-Q) — 961KB
• ahro_ex311.htm (EX-31.1) — 10KB
• ahro_ex312.htm (EX-31.2) — 10KB
• ahro_ex321.htm (EX-32.1) — 4KB
• ahro_ex322.htm (EX-32.2) — 5KB
• 0001477932-24-007452.txt ( ) — 4418KB
• ahro-20240930.xsd (EX-101.SCH) — 49KB
• ahro-20240930_lab.xml (EX-101.LAB) — 255KB
• ahro-20240930_cal.xml (EX-101.CAL) — 46KB
• ahro-20240930_pre.xml (EX-101.PRE) — 228KB
• ahro-20240930_def.xml (EX-101.DEF) — 154KB
• ahro_10q_htm.xml (XML) — 640KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1. Condensed Consolidated Balance Sheets as of September 30, 2024 (unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Stockholders' Deficit for the Nine Months Ended September 30, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 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 30 Item 1A.

Risk Factors

Risk Factors 30 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 Item 3. Defaults Upon Senior Securities 30 Item 4. Mine Safety Disclosures 30 Item 5. Other Information 30 Item 6. Exhibits 31

Signatures

Signatures 32 2 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements AUTHENTIC HOLDINGS INC. Condensed Consolidated Balance Sheets (Unaudited) September 30, December 31, 2024 2023 ASSETS CURRENT ASSETS Cash and cash equivalents $ 125 $ - Accounts receivable 33,527 - Advances 625,000 625,000 TOTAL CURRENT ASSETS 658,652 625,000 Property and equipment, net of depreciation - 21,721 Intangible assets 4,394,233 4,771,322 TOTAL ASSETS $ 5,052,885 $ 5,418,043 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY) CURRENT LIABILITIES Bank overdraft $ 313 $ 1,814 Accounts payable and accrued liabilities 416,466 316,873 Accrued compensation 501,250 501,250 Unsecured notes and accrued interest payable 163,689 159,950 Convertible notes and accrued interest - net of debt discount 1,450,522 1,320,858 Convertible notes and accrued interest - related party 88,943 87,068 Secured Promisory Notes and Accrued Interest 101,550 41,022 Promisory Notes and Accrued Interest - 25,000 Promissory note and accrued interest - related party 519,020 508,959 Derivative liabilities 1,248,041 1,633,052 Advances from related parties 484,974 560,779 Related party loans and accrued interest 279,983 274,456 Self Liquidating Promissory Notes 132,083 192,500 TOTAL CURRENT LIABILITIES $ 5,386,834 $ 5,623,581 TOTAL LIABILITIES STOCKHOLDER'S EQUITY (DEFICIENCY) Preferred stock, Class B, $ 0.001 par value, 400,000 shares authorized, 200,000 shares issued and outstanding at September 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 September 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 September 30, 2024 and December 31, 2023 100 100 Preferred stock, Class Z, 4,762 and 0 shares issued and outstanding a

View Full Filing

View this 10-Q filing on SEC EDGAR