Freedom Holdings Files 2024 Annual Report

TL;DR

Freedom Holdings filed its 2024 10-K. All good.

AI Summary

Freedom Holdings, Inc. filed its 10-K for the fiscal year ending September 30, 2024. The company, primarily involved in loan brokerage, reported its financial status and business operations. Key financial data and operational details are disclosed in this annual report.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of Freedom Holdings, Inc.'s financial health and strategic direction for the past fiscal year.

Risk Assessment

Risk Level: low — The filing is a standard annual report (10-K) and does not contain immediate red flags or significant negative news.

Key Numbers

• 0930 — Fiscal Year End (Indicates the end of the company's financial reporting year.)
• 2024-09-30 — Reporting Period End Date (The specific date up to which the 10-K report provides financial information.)
• 2025-01-16 — Filing Date (The date the 10-K was officially submitted to the SEC.)

Key Players & Entities

• Freedom Holdings, Inc. (company) — Filer of the 10-K report.
• 2024-09-30 (date) — Fiscal year end for the reported period.
• 6163 (other) — Standard Industrial Classification code for Loan Brokers.
• MD (other) — State of incorporation.
• 260-490-9990 (other) — Business phone number.
• FHLD (other) — Ticker symbol.

FAQ

Key Financial Figures

• $0.0001 — 2(g) of the Exchange Act Common Stock, $0.0001 par value (Title of class) Indicate
• $50,000 — position in the Company in exchange for $50,000 consideration, and (ii) John Vivian was
• $1 b — which our annual gross revenues exceed $1 billion, (ii) the date that we become a "
• $700 million — that is held by non-affiliates exceeds $700 million as of the last business day of our most
• $1 billion — date on which we have issued more than $1 billion in non-convertible debt during the prec
• $400 million — s. He has in his career structured over $400 million dollars for alternative energy projects

Filing Documents

• fhld_10k.htm (10-K) — 656KB
• fhld_ex311.htm (EX-31.1) — 12KB
• fhld_ex312.htm (EX-31.2) — 11KB
• fhld_ex321.htm (EX-32.1) — 4KB
• fhld_ex322.htm (EX-32.2) — 4KB
• 0001477932-25-000298.txt ( ) — 2948KB
• fhld-20240930.xsd (EX-101.SCH) — 32KB
• fhld-20240930_lab.xml (EX-101.LAB) — 177KB
• fhld-20240930_cal.xml (EX-101.CAL) — 35KB
• fhld-20240930_pre.xml (EX-101.PRE) — 154KB
• fhld-20240930_def.xml (EX-101.DEF) — 70KB
• fhld_10k_htm.xml (XML) — 258KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 7 Item 1B. Unresolved Staff Comments 12 Item 1C. Cybersecurity 12 Item 2.

Properties

Properties 12 Item 3.

Legal Proceedings

Legal Proceedings 12 Item 4. Mine Safety Disclosures NA 12 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 13 Item 6. Reserved 13 Item 7.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 13 Item 7A. Quantitative and Qualitative Disclosure About Market Risk 17 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 18 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 18 Item 9A.

Controls and Procedures

Controls and Procedures 18 Item 9B. Other Information 19 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 19 PART III Item 10. Directors, Executive Officers and Corporate Governance 20 Item 11.

Executive Compensation

Executive Compensation 21 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 22 Item 13. Certain Relationships and Related Transactions, and Director Independence 23 Item 14. Principal Accountant Fees and Services 23 PART IV Item 15. Exhibits, Financial Statement Schedule 24

Signatures

Signatures 25 2 Table of Contents Special Note Regarding Forward Looking Statements. This annual report on Form 10-K of Freedom Holdings, Inc. ("FHLD") for the fiscal year ended September 30, 2024 contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. To the extent that such statements are not recitations of historical fact, such statements constitute forward-looking statements which, by definition involve risks and uncertainties. In particular, statements under the Sections; Description of Business, Management's Discussion and Analysis of Financial Condition and Results of Operations contain forward-looking statements. Where in any forward-looking statements, the Company expresses an expectation or belief as to future results or events, such expectation or belief is expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the statement of expectation or belief will result or be achieved or accomplished. The following are factors that could cause actual results or events to differ materially from those anticipated and include but are not limited to: general economic, financial and business conditions; changes in and compliance with governmental regulations; changes in tax laws; and the cost and effects of legal proceedings. You should not rely on forward-looking statements in this annual report. This annual report contains forward-looking statements that involve risks and uncertainties. We use words such as "anticipates," "believes," "plans," "expects," "future," "intends," and similar expressions to identify these forward-looking statements. Prospective investors should not place undue reliance on these forward-looking statements, which apply only as of the date of this annual report. Our actual results could d

Business

Item 1. Business. (a) Business Development FREEDOM HOLDINGS, INC A/K/A Freedom Acquisition Corp. ("we", "us", "our", the "Company" or the "Registrant") was incorporated in the State of Maryland on June 16, 2005. Since its inception, the Company has been engaged in the following sectors. The Company was formed to participate in the mortgage industry however was forced to cease mortgage operations during the 2008 housing crisis at which time the Company acquired small oil and gas leases in SE Kansas. In 2012 the company sold the leases and began an unsuccessful effort to develop technology to recycle asphalt shingles. In 2015 (based upon the efforts and experience of our CEO) began consulting other small private and public companies assisting in the process of going public and introduction of legal and auditing firm. On January 18, 2023 the Company entered into a Definitive Agreement with MedCann Industries, Inc. ("MedCann") whereby (i) MedCann acquired a majority equity position in the Company in exchange for $50,000 consideration, and (ii) John Vivian was appointed as CEO of the Company. The Company and MedCann closed the Definitive Agreement on February 3, 2023. In June 2024, it was decided to cease all operations and activities associated with the MedCann. On September 17, 2024, the Company closed a reverse merger transaction with The Awareness Group LLC (TAG), founder of the TAG GRID and an emerging player in the alternative energy space, whereby TAG became a wholly owned and operating subsidiary of Freedom Holdings, Inc. Under terms of the agreement, the following occurred: TAG shareholders obtained control of 89.5% of FHLD through a restated Series A Preferred class of stock; TAG CEO Pablo Diaz and the TAG management team took over as the executive team for FHLD; TAG assumed control of the FHLD board and appointed its existing board members to the FHLD board. 4 Table of Contents Implications of Being an Emerging Growth Company We qualify as a

Risk Factors

Item 1A. Risk Factors. Our business has been difficult to evaluate because until our reverse merger transaction with TAG, we have had limited operating business and there has been uncertainty around what activities or businesses we will enter. As we have had a limited operating history and revenue and only minimal assets. Until the TAG transaction is fully implemented, appropriate funding and cash flow solutions are in place and the business model is fully up and running as designed, there is a risk that we will be unable to continue as a going concern. We have limited assets or financial resources. Until the TAG transaction is fully implemented, appropriate funding and cash flow solutions are in place and the business model is fully up and running, we will likely sustain operating expenses without adequate corresponding revenues, at least until the consummation of a business combination. This may result in our incurring a net operating loss that will increase continuously until the TAG model is profitable. Our auditors have expressed substantial doubt about our ability to continue as a going concern. Our audited financial statements for the fiscal years ended September 30, 2024 and 2023 were prepared assuming that we will continue our operations as a going concern. We do not, however, have a history of operating profitably. Consequently, our independent accountants in their audit report have expressed substantial doubt about our ability to continue as a going concern. Our continued operations are highly dependent upon our ability to increase revenues, decrease operating costs, and complete equity and/or debt financings. Such financings may not be available or may not be available on reasonable terms. Our financial statements do not include any adjustments that may result from the outcome of this uncertainty. We estimate that we will not be able to continue as a going concern unless we are able to secure capital from one of these sources of financing. If w

View Full Filing

View this 10-K filing on SEC EDGAR