10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

———————

FORM 10-Q

———————

☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended: June 30, 2025
or
☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from: _____________ to _____________

———————

FARMHOUSE, INC.

(Exact name of registrant as specified in its charter)

———————

NEVADA (NV)	333-238326	46-3321759
(State or Other Jurisdiction	(Commission	(I.R.S. Employer
of Incorporation)	File Number)	Identification No.)

548 Market Street, Suite 90355, San Francisco, CA 94104

(Address of Principal Executive Office)  (Zip Code)

 (888) 420-6856 

(Registrant’s telephone number, including area code)

  N/A  

(Former name, former address and former fiscal year, if changed since last report)

———————

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

[X] Yes [ ] No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

[X] Yes [ ] No

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer [ ]	Accelerated filer [ ]
Non-accelerated filer [ ]	Smaller reporting company ☒

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act),

☐ Yes [X] No 

The number of shares of the issuer’s Common Stock outstanding as of August 13, 2025 is 17,925,950.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q for the six months ended June 30, 2025 (this “Report”) contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates, and assumptions and involve risks and uncertainties that could cause actual results to differ materially. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “project,” and similar expressions identify forward-looking statements.

Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this Report. Although we believe our expectations are reasonable, we cannot guarantee future results. Except as required by law, we undertake no obligation to update any forward-looking statements.

CERTAIN TERMS USED IN THIS REPORT

Unless otherwise indicated, references to “we,” “us,” “our,” the “Registrant,” the “Company,” or “Farmhouse” refer to Farmhouse, Inc.

FARMHOUSE, INC. AND SUBSIDIARIES

Quarterly Report on Form 10-Q

June 30, 2025

INDEX

PART I – FINANCIAL INFORMATION		3
Item 1.	Interim condensed consolidated financial statements	3
Item 2.	Management’s Discussion and Analysis of Financial Condition
	and Results of Operations	19
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	22
Item 4.	Controls and Procedures	22
Part II – Other Information		22
Item 1.	Legal Proceedings	22
Item 1A.	Risk Factors	22
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	22
Item 3.	Defaults Upon Senior Securities	23
Item 4.	Mine Safety Disclosures	23
Item 5.	Other Information	23
Item 6.	Exhibits	23
Signature		24
Certifications

PART I – FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

FARMHOUSE, INC. AND SUBSIDIARY
CONSENSED CONSOLIDATED BALANCE SHEETS
	June 30,		December 31,
	2025		2024
	(unaudited)
ASSETS
Current assets:
Cash	$	12,958	$	413
Prepaid expenses		9,186		4,200
Total current assets		22,144		4,613
Deposit on Investment		26,175		26,175
Total assets	$	48,319	$	30,788
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current liabilities:
Accounts payable	$	28,891	$	59,701
Accrued legal fees		10,070		425,625
Accrued payroll and payroll taxes		1,405,968		1,313,896
Accrued liabilities		11,510		37,946
Accrued interest payable		96,693		79,226
Convertible notes payable, in default		45,000		45,000
Notes payable, in default		68,400		85,567
Due to related parties, $4,500 in default		313,853		292,397
Total current liabilities		1,980,385		2,339,358
Long-term liabilities:
Convertible notes payable, long-term		443,100		34,000
Convertible notes payable to related party, long-term		25,000
Total long-term liabilities		468,100		34,000
Total liabilities		2,448,485		2,373,358
Commitments and contingencies		-		-
Stockholders’ deficit:
Preferred stock; $0.0001 par value, 5,000,000 shares authorized, no shares issued and outstanding as of June 30, 2025 and December 31, 2024		-		-
Common stock; $0.0001 par value, 295,000,000 shares authorized, 17,925,950 shares issued and outstanding as of June 30, 2025 and December 31, 2024		1,793		1,793
Additional paid-in capital		4,431,758		4,425,468
Accumulated deficit		(6,833,717)		(6,769,831)
Total stockholders’ deficit		(2,400,166)		(2,342,570)
Total liabilities and stockholders’ deficit	$	48,319	$	30,788
The accompanying notes are an integral part of these condensed consolidated financial statements

5

FARMHOUSE, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
	For the three months ended June 30,				For the six months ended June 30,
	2025		2024		2025		2024
REVENUES
Revenues	$		$	1,893	$	-	$	4,154
Costs of revenues				(744)		-		(1,874)
Gross margin		-		1,149		-		2,280
OPERATING EXPENSES
General and administrative		63,893		77,689		131,003		151,870
Professional fees		53,665		49,119		77,349		79,042
Total operating expenses		117,558		126,808		208,352		230,912
LOSS FROM OPERATIONS		(117,558)		(125,659)		(208,352)		(228,632)
OTHER INCOME (EXPENSE):
Gain on extinguishment of debt		-		-		174,935		-
Interest expense		(14,616)		(13,460)		(30,469)		(26,558)
Total other income (expense)		(14,616)		(13,460)		144,466		(26,558)
NET LOSS	$	(132,174)	$	(139,119)	$	(63,886)	$	(255,190)
BASIC AND DILUTED NET LOSS PER SHARE	$	(0.01)	$	(0.01)	$	(0.00)	$	(0.01)
BASIC AND DILUTED WEIGHTED  AVERAGE NUMBER OF SHARES  OUTSTANDING		17,925,950		17,408,148		17,925,950		17,339,743
The accompanying notes are an integral part of these condensed consolidated financial statements

6

CONSENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT
For the six months ended June 30, 2025
(unaudited)
	Common Stock					Accumulated
	Shares	Par Value		Paid-in Capital		Deficit		Total
Balance at December 31, 2024	17,925,950	$	1,793	$	4,425,468	$	(6,769,831)	$	(2,342,570)
Stock-based compensation on RSA's vested	-		-		3,145		-		3,145
Net income	-		-		-		68,288		68,288
Balance at March 31, 2025	17,925,950		1,793		4,428,613		(6,701,543)		(2,271,137)
Stock-based compensation on RSA's vested	-		-		3,145		-		3,145
Net loss	-		-		-		(132,174)		(132,174)
Balance at June 30, 2025	17,925,950	$	1,793	$	4,431,758	$	(6,833,717)	$	(2,400,166)
The accompanying notes are an integral part of these condensed consolidated financial statements

7

CONSENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT
For the six months ended June 30, 2024
(unaudited)
	Common Stock					Accumulated
	Shares	Par Value		Paid-in Capital		Deficit		Total
Balance at December 31, 2023	17,325,950	$	1,733	$	4,325,474	$	(6,305,488)	$	(1,978,281)
Stock-based compensation on RSA's vested	-		-		15,875		-		15,875
Net loss	-		-		-		(116,071)		(116,071)
Balance at March 31, 2024	17,325,950		1,733		4,341,349		(6,421,559)		(2,078,477)
Common stock sold for cash	62,500		6		24,994		-		25,000
Common stock issued for Restricted  Stock Awards	340,000		34		(34)		-		-
Stock-based compensation on RSA's vested	-		-		19,915		-		19,915
Net loss	-		-		-		(139,119)		(139,119)
Balance at June 30, 2024	17,728,450	$	1,773	$	4,386,224	$	(6,560,678)	$	(2,172,681)
The accompanying notes are an integral part of these condensed consolidated financial statements

8

FARMHOUSE, INC. AND SUBSIDIARY
CONSENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
	For the six months ended June 30,
	2025		2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	(63,886)	$	(255,190)
Adjustments to reconcile net income (loss) to net cash  used by operating activities:
Gain on extinguishment of debt		(174,935)		-
Stock-based compensation on RSA's vested		6,290		35,790
Changes in operating assets and liabilities:
Accounts receivable		-		2,560
Prepaid expenses		(4,986)		(210)
Accounts payable		(23,108)		17,120
Accrued legal fees		9,375		18,958
Accrued payroll and payroll taxes		92,072		92,072
Accrued liabilities		(436)		755
Accrued liabilities related party		24,000		24,000
Accrued interest payable		20,135		7,601
Accrued interest payable related party		960		-
Net cash used in operating activities		(114,519)		(56,544)
CASH FLOWS FROM INVESTING ACTIVITIES:		-		-
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock		-		25,000
Proceeds from issuance of convertible notes payable		105,000		10,000
Proceeds from issuance of convertible notes payable - related party		25,000		-
Proceeds from related party loans and advances		13,084		23,562
Repayment of related party loans and advances		(16,020)		-
Net cash provided by financing activities		127,064		58,562
NET CHANGE IN CASH		12,545		2,018
CASH AT BEGINNING OF PERIOD		413		-
CASH AT END OF PERIOD	$	12,958	$	2,018
SUPPLEMENTAL DISCLOSURE OF CASH FLOW  INFORMATION:
Interest paid	$	-	$	-
Income taxes	$	-	$	-
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Accounts payable exchanged for convertible note payable	$	8,270	$	-
Accrued legal fees exchanged for convertible note payable	$	250,000	$	-
Accrued liabilities exchanged for convertible note payable	$	26,000	$	-
Note payable exchanged for convertible note payable	$	17,167	$	-
Accrued interest exchanged for convertible note payable	$	2,663	$	-
Repayment of related party short-term advances with credit card	$	568	$	1,167
The accompanying notes are an integral part of these condensed consolidated financial statements

9

FARMHOUSE, INC. AND SUBSIDIARIES

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2025

(Unaudited)

NOTE 1 – ORGANIZATION AND OPERATIONS

Farmhouse, Inc. (the “Company”) is a Nevada corporation focused on technology and brand development. The Company operates through its wholly owned subsidiaries, including Farmhouse Washington and Farmhouse DTLA, Inc., and holds a portfolio of intellectual property assets, including domains and assorted trademarks. It is currently focused on strategic acquisitions to leverage its public company platform and enhance shareholder value.

Share Exchange Agreement with Thrown, LLC

On September 10, 2024, the Company entered into a Share Exchange Agreement (“SEA”) with Thrown, LLC (“Thrown”) and its members. Thrown is a beverage company and its initial product is Good Game by T-Pain, a nootropic esports beverage packaged in 2-ounce servings. Under the SEA, the Company will acquire all the membership interests of Thrown in exchange for 5,130,000 newly issued shares of common stock. As of the date of this report, the transaction has not closed, and discussions with Thrown management are ongoing. See Note 3.

Proposed Acquisition of Ledgewood Holdings, LLC

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.

Potential Crypto Treasury Strategy

In addition to pursuing strategic acquisitions such as those previously disclosed with Thrown, LLC and Ledgewood Holdings, LLC, management is evaluating potential treasury and capital management strategies involving digital assets, including Bitcoin. The Company has engaged in preliminary discussions with multiple parties, including cryptocurrency financing and investment platforms, regarding possible structures to implement such a strategy. These discussions are exploratory in nature, and no binding agreements or definitive plans have been reached. There can be no assurance that any such strategy will be pursued or implemented, or that it will generate the anticipated benefits.

Going Concern and Management Plans

The accompanying condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern. For the six months ended June 30, 2025, the Company incurred a loss from operations of $208,352 and had a stockholders’ deficit of $2,400,166. These conditions raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date these financial statements are issued.

Management intends to address this uncertainty through continued financing from officer loans, third-party borrowings, and equity sales. While no assurance can be given, management believes these sources will provide sufficient liquidity to support operations in the near term.

NOTE 2—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

This summary of significant accounting policies is presented to assist the reader in understanding and evaluating the Company’s unaudited interim condensed consolidated financial statements. These accounting policies conform to Generally Accepted Accounting Principles (“GAAP”) in the United States and have been consistently applied in the preparation of these unaudited interim condensed consolidated financial statements.

10

FARMHOUSE, INC. AND SUBSIDIARIES

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2025

(Unaudited)

Basis of Presentation

The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”), as issued by the Financial Accounting Standards Board (“FASB”), and the rules of the SEC applicable to interim financial reporting. They do not include all of the information and footnotes required for complete annual financial statements and should be read in conjunction with the Company’s 2024 Form 10-K. In the opinion of management, all normal recurring adjustments considered necessary for a fair presentation have been included. References to the “ASC” refer to the Accounting Standards Codification established by FASB.

Principals of Consolidation

The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, Farmhouse Washington and DTLA, Inc. All intercompany balances and transactions have been eliminated in consolidation.

Use of Estimates

The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, expenses, and related disclosures. Significant estimates include, but are not limited to, the valuation of convertible debt and stock-based compensation, deferred tax assets and associated valuation allowances, and fair value measurements. Actual results could differ materially from those estimates.

Reclassifications

Certain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications had no effect on previously reported net income or stockholders’ equity.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash held in checking and savings accounts and highly liquid investments with original maturities of six months or less at the time of purchase. The Company had no cash equivalents as of June 30, 2025 or December 31, 2024.

Fair Value of Financial Instruments

The Company follows ASC 820, Fair Value Measurements, for assets and liabilities measured at fair value on a recurring or nonrecurring basis. Fair value is defined as the price to sell an asset or transfer a liability in an orderly transaction between market participants. The three-tier hierarchy prioritizes inputs used in valuation techniques: Level 1 (quoted prices in active markets), Level 2 (observable inputs other than quoted prices), and Level 3 (unobservable inputs). The Company’s financial instruments, including cash, accounts payable, and notes payable, are recorded at cost, which approximates fair value due to their short-term maturities.

Revenue Recognition

The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers, by evaluating contracts under the five-step model: (1) identify the contract, (2) identify the performance obligations, (3) determine the transaction price, (4) allocate the transaction price, and (5) recognize revenue as performance obligations are satisfied.

11

FARMHOUSE, INC. AND SUBSIDIARIES

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2025

(Unaudited)

The Company generated no revenue for the six months ended June 30, 2025. In prior periods, the Company generated immaterial revenue from license fees under NFT licensing agreements. The Company’s performance obligation was met when the licensee was granted access to the NFTs. As discussed in Note 1, the Company does not expect to generate future revenue from these agreements.

Related Party Transactions

The Company accounts for related party transactions in accordance with ASC 850, Related Party Disclosures. Transactions with related parties are identified and evaluated for appropriate disclosure and accounting. See Note 6.

Commitments and Contingencies

The Company evaluates commitments and contingencies in accordance with ASC 450, Contingencies. Liabilities are accrued when the loss is probable and reasonably estimable. Legal costs are expensed as incurred. See Note 10.

Segment Reporting

In accordance with ASC 280, Segment Reporting, the Company operates in a single reportable segment. The Chief Financial Officer is the Chief Operating Decision Maker. The CODM reviews financial performance based on consolidated operating results, including revenue, gross profit, and net loss. No disaggregated operating results are regularly reviewed below the consolidated level, and no discrete segment-level information is maintained. To date the Company has generated all revenues from third parties located in the United States and all of the Company’s assets are located in the United States.

Net Income (Loss) per Common Share

Basic earnings (loss) per share is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted earnings per share include the effect of potentially dilutive securities such as stock options and convertible instruments but are excluded when the effect would be anti-dilutive. As of June 30, 2025 and 2024 the Company had convertible notes outstanding, however, certain events that would trigger, or allow for, conversion had not yet occurred; therefore as of those dates the Company had no potentially dilutive securities.

Stock-Based Compensation

The Company accounts for stock-based awards in accordance with ASC 718, Compensation – Stock Compensation. Equity awards, including restricted stock awards (“RSAs”), are measured at fair value on the grant date and expensed over the requisite service period. The fair value of RSAs is based on the closing price of the Company’s common stock on the date of grant. Stock option valuation, when applicable, is based on the Black-Scholes option pricing model. See Note 9.

Subsequent Events

The Company evaluates subsequent events in accordance with ASC 855, Subsequent Events. The Company assesses events occurring after the balance sheet date but before the financial statements are issued to determine whether such events should be recognized in the financial statements or disclosed in the notes. See Note 11.

Recently Issued Accounting Pronouncements

The Company has evaluated all recently issued accounting pronouncements by the Financial Accounting Standards Board, including those not yet effective, and does not expect any of these standards to have a material impact on its unaudited interim condensed consolidated financial statements or related disclosures.

12

FARMHOUSE, INC. AND SUBSIDIARIES

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2025

(Unaudited)

NOTE 3 – DEPOSIT ON INVESTMENT

As discussed in Note 1, the Company entered into a Share Exchange Agreement with Thrown, LLC and its members for a proposed acquisition of all membership interests of Thrown, a beverage company whose initial product is Good Game by T-Pain, a nootropic functional esports beverage. Pursuant to the SEA, the Company issued 187,500 shares to Thrown as an equity deposit at an agreed value of $75,000. The fair market value of the stock on the issuance date, based on the closing price on the OTCQB market, was $0.1396 per share, or approximately $26,175.

Because the closing conditions had not been satisfied as of June 30, 2025, control of Thrown had not transferred under ASC 805. Therefore, the Company recorded the fair value of the shares issued as a Deposit for Investment. This deposit represents an advance made in anticipation of completing the acquisition. As of the date of this report, the transaction had not closed and discussions with Thrown management regarding closing conditions remain ongoing. If the transaction does not close, the shares will be treated as a break-up fee and charged to expense.

NOTE 4 – CONVERTIBLE NOTES PAYABLE, IN DEFAULT

Convertible notes payable is comprised of a promissory note issued to an unrelated individual with a principal amount of $45,000 as of June 30, 2025 and December 31, 2024. Principal and accrued interest were originally due in July 2018, and the note is currently in default. The note bears interest at a rate of 18% per annum, accrues monthly, and is unsecured.

The note, together with all unpaid accrued interest, is automatically convertible in full upon the closing of a qualified financing. A qualified financing is defined as an equity financing resulting in gross proceeds to the Company of at least $750,000 (including the conversion of this note and other debt). Upon a qualified financing, the conversion price would be equal to 100% of the per share price paid by investors in the financing, subject to the following valuation adjustments: (i) if the Company’s valuation associated with the qualified financing is less than $15,000,000, the conversion price shall be based on a $15,000,000 valuation; and (ii) if the valuation exceeds $30,000,000, the conversion price shall be based on a $30,000,000 valuation.

Interest expense related to the convertible note was $4,017 and $4,040 for the six months ended June 30, 2025 and 2024, respectively, and $2,019 and $2,021 for the three months ended June 30, 2025 and 2024, respectively. Accrued interest was $64,534 and $60,517 as of June 30, 2025 and December 31, 2024, respectively.

NOTE 5 – NOTES PAYABLE

Notes payable is comprised of the following:

	June 30, 2025		December 31, 2024
Loan agreement with an unaffiliated individual, interest at 6% per annum, due December 16, 2021. In default.	$	50,000	$	50,000
Note payable to unaffiliated individual, interest at 20% per annum, due October 26, 2024. In default.		5,000		5,000
Note payable to unaffiliated individual, interest at 20% per annum, due October 26, 2024. In default.		5,000		5,000
Note payable to unaffiliated individual, interest at 12% per annum, due January 2, 2025. (1)		-		11,667
Note payable to unaffiliated individual, interest at 20% per annum, due February 9, 2025. (1)		-		5,500
Note payable to unaffiliated individual, interest at 20% per annum, due March 30, 2025. In default		8,400		8,400
Total Notes Payable	$	68,400	$	85,567

13

FARMHOUSE, INC. AND SUBSIDIARIES

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2025

(Unaudited)

(1)Note payable converted into a Series 2025 Note. See Note 7.  

In 2021, the Company entered into a loan agreement with an unaffiliated individual (the “Lender”) for borrowings up to $75,000 and received a first advance of $50,000. Borrowings under this loan are senior in priority to any other indebtedness of the Company. The Company’s Chief Executive Officer personally and unconditionally guaranteed repayment of the loan. As of the date of this report, the note remains unpaid and is in default.

Except for the $50,000 note discussed in the paragraph above, each of the notes to unaffiliated individuals bear interest at the stated annual rate, calculated based on the actual number of days elapsed over a 365-day year. All notes are unsecured and provide for acceleration of payment upon the occurrence of customary events of default, including non-payment, insolvency, bankruptcy, or a change of control of the Company. The notes have not been registered under the Securities Act of 1933, as amended, and the holders have represented that they are acquiring the notes for investment purposes only and not with a view to distribution.

On March 31, 2025, two notes in the principal amounts of $11,667 and $5,500, together with accrued interest of $1,733 and $705, respectively, were converted into new Series 2025 10% Mandatorily Convertible Notes. See Note 7.

Interest expense on notes payable was $4,618 and $1,858 for the six months ended June 30, 2025 and 2024, respectively, and $1,666 and $1,110 for the three months ended June 30, 2025 and 2024, respectively. Accrued interest was $15,750 and $13,569 as of June 30, 2025 and December 31, 2024, respectively.

NOTE 6 – DUE TO RELATED PARTIES

Due to related parties is comprised of the following:

	June 30, 2025		December 31, 2024
Loans from Company officers	$	66,045	$	69,549
Accrued liability to contracted CFO		242,000		218,000
Note Payable to Officer, in default		4,500		4,500
Accrued interest on related party notes		1,308		348
Total due to related parties – current		313,853		292,397
Convertible note payable to related party – long  term (see Note 7)		25,000		-
Total due to related parties – long-term		25,000		-
Total due to related parties	$	338,339	$	292,397

As of June 30, 2025 and December 31, 2024, loans from Company officers totaled $66,045 and $69,549, respectively. These amounts represent cash advances made by Company officers to fund operating expenses and direct payments made by Company officers on behalf of the Company. All amounts due to related parties are non-interest bearing and unsecured. For the six months ended June 30, 2025, Company officers advanced a total of $13,084 to the Company and were repaid $16,020 in cash and $568 through personal charges to the Company’s credit card. For the six months ended June 30, 2024, Company officers advanced $23,562 and were repaid $1,167 through personal charges to the Company’s credit card.

The Company’s Chief Financial Officer is engaged under a consulting arrangement and is not a W-2 employee. The Company recognized $24,000 in compensation expense for the six months ended June 30, 2025 and 2024 and $12,000 in compensation expense for the three months ended June 30, 2025 and 2024. As of June 30, 2025 and December 31, 2024, accrued but unpaid fees totaled $242,000 and $218,000, respectively, for services provided since 2021.

14

FARMHOUSE, INC. AND SUBSIDIARIES

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2025

(Unaudited)

On August 12, 2024, the Company entered into an unsecured promissory note with the Company’s Chief Executive Officer in the principal amount of $4,500. The note bears interest at a rate of 20% per annum, calculated based on the actual number of days elapsed over a 365-day year. All unpaid principal and accrued but unpaid interest was due and payable in full on February 12, 2025. The note provides for acceleration of payment upon the occurrence of customary events of default, including the Company’s failure to pay amounts due, insolvency, bankruptcy, or a change of control, as defined in the note. Because the note was issued to the Company’s Chief Executive Officer, it is classified as a related party transaction under applicable accounting standards. As of the date of this report, the note remains unpaid and is in default. Interest expense on this note was $446 and zero for the six months ended June 30, 2025 and 2024, respectively, and $224 and zero for the three months ended June 30, 2025 and 2024, respectively.

On April 18, 2025, the Company issued a Series 2025 Note, as described in Note 7, for $25,000 cash to the spouse of a Company director. The note is due April 18, 2028. The note is considered a related party transaction but was issued on the same terms as those offered to unaffiliated investors and was executed on an arm’s length basis.

Interest expense on this note was $514 and zero for the six months ended June 30, 2025 and 2024, respectively, and $514 and zero for the three months ended June 30, 2025 and 2024, respectively. Accrued interest on related party notes was $1,308 and $348 as of June 30, 2025 and December 31, 2024, respectively.

NOTE 7 – CONVERTIBLE NOTES PAYABLE – LONG-TERM

Convertible notes payable – long-term is comprised of the following:

	June 30, 2025		December 31, 2024
Series 2023 Notes
Note payable to unaffiliated individual, interest at 10% per annum, $25,000 due June 1, 2026 and $4,000 due September 30, 2026.	$	29,000	$	29,000
Note payable to unaffiliated individual, interest at 10% per annum, due October 2, 2026.		5,000		5,000
Series 2025 Notes				-
Note payable to unaffiliated individual, interest at 10% per annum, due February 24, 2028.		10,000		-
Note payable to unaffiliated individual, interest at 10% per annum, due March 18, 2028. (1)		61,000		-
Note payable to unaffiliated individual, interest at 10% per annum, due March 31, 2028. (2)		6,200		-
Note payable to unaffiliated individual, interest at 10% per annum, due March 31, 2028. (2)		13,400		-
Note payable to unaffiliated individual, interest at 10% per annum, due March 31, 2028. (3)		250,000		-
Note payable to unaffiliated individual, interest at 10% per annum, due March 31, 2028. (4)		8,500		-
Note payable to unaffiliated individual, interest at 10% per annum, due April 16, 2028.		25,000		-
Note payable to unaffiliated individual, interest at 10% per annum, due April 21, 2028.		12,500		-
Note payable to unaffiliated individual, interest at 10% per annum, due April 28, 2028.		12,500		-
Note payable to unaffiliated individual, interest at 10% per annum, due June 23, 2028.		10,000		-
Total Convertible Notes Payable – Long-term	$	443,100	$	34,000

15

FARMHOUSE, INC. AND SUBSIDIARIES

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2025

(Unaudited)

See narrative below under The Series 2025 Notes related to these footnotes:

(1)Represents partial conversion of accrued liability.  

(2)Represents conversion of existing promissory note.  

(3)Represents conversion of accrued legal fees and finance charges.  

(4)Represents conversion of existing accounts payable to individual.  

The Series 2023 Notes

In May 2023, the Board of Directors authorized an offering of up to $1,000,000 of mandatorily convertible notes, designated as Series 2023 10% Mandatorily Convertible Notes (the “Series 2023 Notes”), to fund Web3 product development activities as well as sales, marketing, and administrative expenses. The Series 2023 Notes are mandatorily convertible 30 calendar days after the earliest to occur of: (i) the Company’s common stock achieving a closing price greater than $1.00 for ten consecutive trading days (a “Market Forced Conversion”), or (ii) the Company completing an offering of common stock resulting in gross proceeds of at least $1,000,000 (an “Offering Forced Conversion”). Upon conversion, the Series 2023 Notes will automatically convert into shares of common stock at a conversion price equal to 75.8% of: (i) the closing price of the Company’s common stock on the tenth trading day for a Market Forced Conversion, or (ii) the offering price of the Company’s common stock for an Offering Forced Conversion.

The number of shares issuable upon conversion is determined by adding the principal amount of the Series 2023 Notes, accrued and unpaid interest, and any applicable default interest, and dividing by the applicable conversion price. The conversion price is subject to equitable adjustments for stock splits, stock dividends or rights offerings by the Company, combinations, recapitalizations, reclassifications, extraordinary distributions, and similar events. Assuming the Series 2023 Notes are not mandatorily converted as discussed above, maturity will be in the fiscal year ended December 31, 2026.

Interest expense related to the Series 2023 Notes was $1,694 and $1,703 for the six months ended June 30, 2025 and 2024, respectively, and $854 and $851 for the three months ended June 30, 2025 and 2024. Accrued interest on the Series 2023 Notes was $6,835 and $5,141 as of June 30, 2025 and December 31, 2024, respectively.

The Series 2025 Notes

For the six months ended June 30, 2025, the Company raised additional funding under the aforementioned offering. These new notes are designated as Series 2025 10% Mandatorily Convertible Notes (the “Series 2025 Notes”). The Series 2025 Notes are identical in all respects to the Series 2023 Notes except they convert at 50% of the offering price, or if the Company’s common stock trades at or above $1.00 per share ($0.50 per share for the March 18 Note) for ten consecutive trading days, in which case they convert at 50% of the closing price on the tenth day. Proceeds from the Series 2025 Notes are being used for general corporate purposes.

On March 18, 2025, the Company issued a Series 2025 Note in the principal amount of $61,000 to an individual investor. The principal amount includes $26,000 of previously accrued liabilities for services rendered, which was exchanged in accordance with a liability conversion agreement executed on the same date. The remaining $35,000 represents new cash proceeds received by the Company. Upon execution of the Series 2025 Note, the previously recorded liability was extinguished and reclassified as part of the convertible debt obligation.

On April 25, 2025, the Board approved the exchange of certain outstanding liabilities into Series 2025 Notes, effective as of March 31, 2025. These include the following:

·A promissory note with a principal and accrued interest balance of $6,205, was exchanged for a new Series 2025 Note in the face amount of $6,200. The Company recorded a gain on extinguishment of debt of $5 for the six months ended June 30, 2025 upon the exchange. 

16

FARMHOUSE, INC. AND SUBSIDIARIES

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2025

(Unaudited)

·Outstanding accrued legal fees and finance charges totaling $424,930 were exchanged for a new Series 2025 Note in the face amount of $250,000. The Company recorded a gain on extinguishment of debt of $174,930 for the six months ended June 30, 2025 upon the exchange. 

·An outstanding and overdue accounts payable of $8,270 and accrued interest of $230 was exchanged for a new Series 2025 Note in the face amount of $8,500.  

·A promissory note with a principal balance of $11,667 and accrued interest balance of $1,733, was exchanged for a new Series 2025 Note in the face amount of $13,400.  

The following Series 2025 Notes were issued for cash during the six months ended June 30, 2025

·$10,000 issued to an unrelated individual on February 24, 2025.  

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

·$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. 

Interest expense related to the Series 2025 Notes was $9,574 for the six months ended June 30, 2025 and $9,340 the three months ended June 30, 2025. Accrued interest on the Series 2025 Notes was $9,574 and zero as of June 30, 2025 and December 31, 2024, respectively.

NOTE 8 – STOCKHOLDERS’ DEFICIT

The Company is authorized to issue 295,000,000 shares of common stock, $0.0001 par value per share, and 5,000,000 shares of undesignated preferred stock, $0.0001 par value per share. The Board of Directors has the authority, in its sole discretion, to establish series of preferred stock and to fix the par value, dividend rates, designations, preferences, privileges, and restrictions of each series. No shares of preferred stock were issued or outstanding as of June 30, 2025 or December 31, 2024.

As of June 30, 2025, the Company had not reserved any shares of common stock for future issuance. While the Company is required to reserve shares to satisfy potential conversions of its outstanding convertible note payable (see Note 4) and Series 2023 and Series 2025 Notes (see Note 8), those instruments were not convertible as of June 30, 2025. The number of shares issuable upon conversion is not currently determinable and will depend on future events, including pricing triggers specified in the respective agreements.

There were no common stock transactions during the six months ended June 30, 2025. The Company had 17,925,950 shares issued and outstanding as of June 30, 2025.

Common stock transactions for the six months ended June 30, 2024 were as follows:

·On May 17, 2024, the Board granted Restricted Stock Awards (“RSAs”) totaling 340,000 shares of common stock under the 2021 OIP. 

·On May 28, 2024, the Company issued 62,500 shares of common stock to an unrelated third party in connection with a Subscription Agreement priced at $0.40 per share for cash proceeds of $25,000. 

17

FARMHOUSE, INC. AND SUBSIDIARIES

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2025

(Unaudited)

NOTE 9 – STOCK-BASED COMPENSATION AND RESTRICTED STOCK AWARDS

In May 2021, the Board of Directors approved the Farmhouse, Inc. 2021 Omnibus Incentive Plan (“2021 OIP”), permitting the issuance of up to 3,000,000 shares of common stock through awards of stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance units, other stock-based awards, and cash-based awards. The 2021 OIP was ratified by stockholders holding a majority of the Company’s outstanding shares.

Options granted under the 2021 OIP may be either incentive stock options, as defined by Section 422 of the Internal Revenue Code, or nonqualified stock options. The exercise price of options must not be less than 100% of the fair market value of the Company’s common stock on the date of grant (110% for holders of more than 10% of the voting stock). Options become exercisable as determined by the Board of Directors and expire no later than ten years from the date of grant (five years for optionees owning more than 10% of voting stock).

Restricted stock awards are issued at fair market value on the grant date and typically vest in monthly or quarterly installments, subject to continued service. Stock-based compensation for RSAs is recognized on a straight-line basis over the vesting period.

Restricted Stock Awards

The Company accounts for stock-based compensation in accordance with ASC 718, Compensation – Stock Compensation, recognizing expense based on the grant-date fair value of awards over the requisite service period. All awards were in the form of Restricted Stock Awards granted under the 2021 Omnibus Incentive Plan. RSAs are valued based on the closing price of the Company’s common stock on the OTCQB market on the date of grant, and expense is recognized as the shares vest. No stock options or other equity instruments were granted during the periods presented.

The following table summarizes RSA activity for the periods presented:

	Number of RSAs		Weighted Average Grant Date Fair Value
Balance as of January 1, 2025		220,000	$	0.076
Awarded		-	$	-
Vested		85,000	$	0.074
Forfeited		-	$	-
Balance as of June 30, 2025		135,000	$	0.078

Stock-based compensation expense was $6,290 and $35,790 for the six months ended June 30, 2025 and 2024, respectively, and $3,145 and $19,915 for the three months ended June 30, 2025 and 2024, respectively. As of June 30, 2025, the Company had $10,490 of unrecognized compensation expense related to non-vested RSAs, which is expected to be recognized over a weighted-average remaining period of approximately 0.93 years. Expense recognition is expected to be $6,290 for the remainder of 2025 and $4,200 in 2026.

NOTE 10 – COMMITMENTS AND CONTINGENCIES

From time to time, the Company may be involved in legal proceedings, claims, or regulatory matters. Management evaluates potential liabilities in consultation with legal counsel and currently does not believe that any existing matters will have a material adverse effect on its financial position or results of operations. The Company also has indemnification agreements with its officers and directors that provide for uncapped indemnity, although the Company believes the likelihood of material payments is remote.

18

FARMHOUSE, INC. AND SUBSIDIARIES

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2025

(Unaudited)

NOTE 11 – SUBSEQUENT EVENTS

As of the date of this report, there were no subsequent events requiring adjustment or disclosure, except as noted below or disclosed elsewhere in these consolidated financial statements.

Restricted Stock Award Issuance

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.

19

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. This discussion contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those expressed or implied in these forward-looking statements due to various factors in our Form 10-K and other filings with the Securities and Exchange Commission.

Overview

We are a Nevada corporation focused on technology and brand development. We operate through our wholly owned subsidiaries, including Farmhouse Washington and Farmhouse DTLA, Inc. We hold a portfolio of intellectual property assets, including domains and assorted trademarks. We are currently focused on strategic acquisitions to leverage our public company platform and enhance shareholder value.

Share Exchange Agreement with Thrown, LLC

On September 10, 2024, we entered into a Share Exchange Agreement (“SEA”) with Thrown, LLC (“Thrown”) and its members. Thrown is a beverage company and its initial product is Good Game by T-Pain, a nootropic esports beverage packaged in 2-ounce servings. Under the SEA, the Company will acquire all the membership interests of Thrown in exchange for 5,130,000 newly issued shares of common stock. As of the date of this report, the transaction has not closed, and discussions with Thrown management are ongoing.

Proposed Acquisition of Ledgewood Holdings, LLC

On June 9, 2025, we 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 through the issuance of up to 31,000,000 shares of our common stock. The term sheet is non-binding and subject to the execution of definitive agreements. 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.

Strategic Alternatives

During the quarter, we continued to evaluate strategic alternatives to enhance shareholder value. In addition to the previously disclosed potential acquisitions of Thrown, LLC and Ledgewood Holdings, LLC, management has engaged in preliminary discussions with certain parties regarding a potential crypto treasury strategy. These discussions include both internal approaches and potential collaborations with external platforms specializing in cryptocurrency investment and financing. No definitive agreements have been entered into, and there is no assurance that these discussions will result in a transaction or that such a strategy will be pursued.

Results of Operations

Six Months Ended June 30, 2025 Compared to Six Months Ended June 30, 2024.

Revenue. Revenue for the six months ended June 30, 2025 was zero, compared to $4,154 in revenues for the same period in 2024, which were generated from license fees under NFT licensing agreements. We do not expect to generate future revenue from these agreements.

20

Operating Expenses. Total operating expenses for the six months ended June 30, 2025, were $208,352, compared to $230,912 for the same period in 2024, as shown below.

For the six months ended June 30,	2025		2024
Accounting and professional fees	$	77,349	$	79,042
Wages and benefits		92,072		111,072
Public company related and filing fees		11,885		14,063
Other general and administrative expenses		27,046		26,735
	$	208,352	$	230,912

Accounting and professional fees were consistent in both six-month periods. The decrease in wages and benefits was attributable to higher stock-based compensation expense recognized during the six months ended June 30, 2024, compared to the same period in 2025. Public company and filing fees decreased due to lower EDGAR filing and transfer agent costs in 2025 relative to 2024. Other general and administrative expenses remained stable between the periods.

Gain on Extinguishment of Debt. On March 31, 2025, accrued legal fees and finance charges totaling $424,930 were converted into a new Series 2025 Note in the face amount of $250,000. Accordingly, we recorded a gain on extinguishment of debt of $174,930 for the six months ended June 30, 2025.

Interest Expense. Interest expense for the six months ended June 30, 2025 was $30,469 compared to interest expense of $26,558 for the same period in 2024. The increase was due to new borrowings.

Net Loss. Net loss for the six months ended June 30, 2025, was $63,886, compared to a net loss of $255,190 for the same period in 2024. The gain on extinguishment of debt of $174,935 attributed to the change for the six months ended June 30, 2025. Additionally, there was reduced stock-based compensation costs during the six months ended June 30, 2025, as mentioned above.

Three Months Ended June 30, 2025 Compared to Three Months Ended June 30, 2024.

Revenue. Revenue for the three months ended June 30, 2025 was zero, compared to $1,893 in revenues for the same period in 2024, which were generated from license fees under NFT licensing agreements. We do not expect to generate future revenue from these agreements.

Operating Expenses. Total operating expenses for the three months ended June 30, 2025, were $117,558, compared to $126,808 for the same period in 2024, as shown below.

For the three months ended June 30,	2025		2024
Accounting and professional fees	$	53,665	$	49,119
Wages and benefits		46,036		55,536
Public company related and filing fees		5,722		9,238
Other general and administrative expenses		12,135		12,915
	$	117,558	$	126,808

Accounting and professional fees increased slightly during the three months ended June 30, 2025, compared to the same period in 2024 due to timing of expenses related to the audit and quarterly reviews. The decrease in wages and benefits was attributable to higher stock-based compensation expense recognized during the three months ended June 30, 2024, compared to the same period in 2025. Public company and filing fees decreased due to lower EDGAR filing and transfer agent costs in 2025 relative to 2024. Other general and administrative expenses remained stable between the periods.

Interest Expense. Interest expense for the three months ended June 30, 2025 was $14,616 compared to $13,460 for the same period in 2024. The increase was due to new borrowings.

21

Net Loss. Net loss for the three months ended June 30, 2025, was $132,174, compared to a net loss of $139,119 for the same period in 2024. There was reduced stock-based compensation costs during the three months ended June 30, 2025, as mentioned above.

Liquidity and Capital Resources

Cash Flow and Working Capital

We had $12,958 and $413 in cash as of June 30, 2025 and December 31, 2024, respectively. Our working capital deficit was $ 1,958,241 as of June 30, 2025, compared to $2,334,745 as of December 31, 2024. We continue to experience limited access to capital and expect that additional financing will be necessary to fund our operations. Market conditions for microcap companies remain challenging, making it difficult to secure favorable terms. Our history of operating losses and our working capital deficit raise substantial doubt about our ability to continue as a going concern. Although we are actively seeking to obtain additional capital, there can be no assurance that such financing will be available on acceptable terms, or at all.

Cash Flow from Financing Activities

Historically, we have funded our operations through a combination of related party advances, private placements, and debt issuances. During the six months ended June 30, 2025, we raised $130,000 from the sale of Series 2025 Notes through the following transactions:

·$10,000 issued to an unrelated individual on February 24, 2025 

·$35,000 issued to an unrelated individual on March 18 2025 (1) 

·$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 

(1)On March 18, 2025, we issued a Series 2025 Note in the principal amount of $61,000 to an individual investor. Of this amount, $26,000 represented the conversion of previously accrued liabilities pursuant to a liability conversion agreement executed on the same date. The remaining $35,000 constituted new cash proceeds.  

Proceeds are being used for general corporate purposes, including working capital and operational expenses. These financings are not expected to materially change our financial condition. Additional details regarding these transactions are provided in Note 7 to the interim condensed consolidated financial statements under Item 1 of this Report.

We anticipate the need for additional financing to support our operations and strategic initiatives. These circumstances raise substantial doubt about our ability to continue as a going concern, which depends on our ability to raise sufficient capital and ultimately achieve profitability. Management is actively exploring financing alternatives, including equity and debt offerings and potential strategic partnerships. In the absence of additional capital, we may be required to reduce or discontinue operations.

Significant Estimates and Assumptions

The preparation of our consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and related disclosures. These estimates are based on historical experience, current conditions, and other reasonable factors. Actual results could differ materially from these estimates. We review these estimates and assumptions regularly and update them as new information becomes available.

22

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

Under the supervision of our Principal Executive Officer and Principal Financial Officer, we evaluated the effectiveness of our disclosure controls and procedures as of June 30, 2025, as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. Based on this evaluation, our officers concluded that our disclosure controls and procedures were not effective as of that date.

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting during the six months ended June 30, 2025, that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Limitations on Effectiveness

Our controls and procedures are designed to provide reasonable, not absolute, assurance of achieving their objectives. Because of inherent limitations, no control system can prevent all errors or fraud.

PART II – OTHER INFORMATION

None.

ITEM 1. LEGAL PROCEEDINGS

As of the date of this report, there were no material pending legal proceedings against us.

ITEM 1A. RISK FACTORS

We qualify as a smaller reporting company, as defined by Item 10 of Regulation S-K and, thus, are not required to provide the information required by this Item.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None

ITEM 3.DEFAULTS UPON SENIOR SECURITIES 

As of June 30, 2025, we were in default under the following promissory notes:

·a $45,000 convertible note issued to an unrelated individual which matured in July 2018. 

·a $50,000 loan with an unrelated individual in 2021 which matured in December 2021. 

·a $5,000 note issued to an unrelated individual which matured in October 2024. 

·a $5,000 note issued to an unrelated individual which matured in October 2024. 

·a $4,500 related party note issued to our Chief Executive Officer which matured on February 12, 2025. 

·a $8,400 note issued to GSB Holdings, LLC which matured on March 30, 2025. 

These defaults may impact our ability to obtain future financing and could result in potential legal action by noteholders. Reference is made to Notes 4, 5, and 6 to the interim condensed consolidated financial statements included under Item 1 of this Report for additional information.

23

ITEM 4.MINE SAFETY DISCLOSURES 

Not applicable.

ITEM 5.OTHER INFORMATION 

None.

24

ITEM 6.EXHIBITS 

The exhibits required to be filed herewith by Item 601 of Regulation S-K, as described in the following index of exhibits, are attached hereto unless otherwise indicated as being incorporated by reference, as follows:

Exhibit Number	Description
31.1	Certification of Chief Executive Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act. *
31.2	Certification of Chief Financial Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act. *
32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. *

* Filed herewith.

25

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the Registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned, City of San Francisco, State of California, on August 14, 2025.

By:	/s/ Evan Horowitz
	EVAN HOROWITZ
	Chief Executive Officer, Director

Pursuant to the requirements of the Securities Act of 1933, this registrant statement has been signed by the following persons in the capacities and on the dates indicated.

By:	/s/ Evan Horowitz
	EVAN HOROWITZ
	Chief Executive Officer, Director
By:	/s/ Lanny R. Lang
	LANNY R. LANG
	Chief Financial Officer, Chief Accounting Officer
	(Principal Financial and Accounting Officer)
By:	/s/ Michael Landau
	MICHAEL LANDAU
	Chief Technology Officer, Treasurer, Director
By:	/s/ Leslie Katz
	LESLIE KATZ
	Director

26

EX-31.1

EXHIBIT 31.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

PURSUANT TO SECURITIES EXCHANGE ACT OF 1934

RULE 13a-14(a) OR 15d-14(a)

I, Evan Horowitz, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q for Farmhouse, Inc.; 

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; 

4.The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: 

a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant is made known to us by others within those entities, particularly during the period in which this report is being prepared; 

b.Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; 

c.Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and 

d.Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. 

5.The registrant’s other certifying officer and I have disclosed, based on the most recent evaluation of internal control over financial reporting, to the registrant’s other certifying officer and registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): 

a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; 

b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. 

	Farmhouse, Inc.
Date: August 14, 2025	By:	/s/ Evan Horowitz
		EVAN HOROWITZ
		Chief Executive Officer, Director
		(Principal Executive Officer)

EX-31.2

EXHIBIT 31.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

PURSUANT TO SECURITIES EXCHANGE ACT OF 1934

RULE 13a-14(a) OR 15d-14(a)

I, Lanny R. Lang, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q for Farmhouse, Inc.; 

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; 

4.The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: 

a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant is made known to us by others within those entities, particularly during the period in which this report is being prepared; 

b.Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; 

c.Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and 

d.Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. 

5.The registrant’s other certifying officer and I have disclosed, based on the most recent evaluation of internal control over financial reporting, to the registrant’s other certifying officer and registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): 

a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; 

b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. 

	Farmhouse, Inc.
Date: August 14, 2025	By:	/s/ Lanny R. Lang
		LANNY R. LANG
		Chief Financial Officer, Chief Accounting Officer
		(Principal Financial and Accounting Officer)

EX-32.1

EXHIBIT 32.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

AND CHIEF FINANCIAL OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

The undersigned, Chief Executive Officer and Chief Financial Officer of Farmhouse, Inc., hereby certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to their knowledge, the Quarterly Report on Form 10-Q of Farmhouse, Inc. as of June 30, 2025 and for the six months ended June 30, 2025 and 2024, fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, and that the information contained in the Quarterly Report on Form 10-Q fairly presents in all material respects the financial condition and results of operations of Farmhouse, Inc.

	Farmhouse, Inc.
Date: August 14, 2025	By:	/s/ Evan Horowitz
		EVAN HOROWITZ
		Chief Executive Officer, Director
		(Principal Executive Officer)
Date: August 14, 2025	By:	/s/ Lanny R. Lang
		LANNY R. LANG
		Chief Financial Officer, Chief Accounting Officer
		(Principal Financial and Accounting Officer)

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signatures that appear in typed form within the electronic version of this written statement required by Section 906, has been provided to Farmhouse, Inc. and will be retained by Farmhouse, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2025	Aug. 13, 2025
Details
Registrant CIK	0001811999
Fiscal Year End	--12-31
Registrant Name	FARMHOUSE, INC. /NV
SEC Form	10-Q
Period End date	Jun. 30, 2025
Tax Identification Number (TIN)	46-3321759
Number of common stock shares outstanding		17,925,950
Filer Category	Non-accelerated Filer
Current with reporting	Yes
Interactive Data Current	Yes
Shell Company	false
Small Business	true
Emerging Growth Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	NV
Entity File Number	333-238326
Entity Address, Address Line One	548 Market Street
Entity Address, Address Line Two	Suite 90355
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94104
City Area Code	888
Local Phone Number	420-6856
Phone Fax Number Description	Registrant’s telephone number
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q2

XML

Consolidated Balance Sheets - USD ($)	Jun. 30, 2025	Dec. 31, 2024
Current assets
Cash	$ 12,958	$ 413
Prepaid expenses	9,186	4,200
Total current assets	22,144	4,613
Deposit on Investment	26,175	26,175
Total assets	48,319	30,788
Current liabilities
Accounts payable	28,891	59,701
Accrued legal fees	10,070	425,625
Accrued payroll and payroll taxes	1,405,968	1,313,896
Accrued liabilities	11,510	37,946
Accrued interest payable	96,693	79,226
Convertible notes payable, in default	45,000	45,000
Notes payable, in default	68,400	85,567
Due to related parties, $4,500 in default	313,853	292,397
Total current liabilities	1,980,385	2,339,358
Long-term liabilities
Convertible notes payable, long-term	443,100	34,000
Convertible notes payable to related party, long-term	25,000	0
Total long-term liabilities	468,100	34,000
Total liabilities	2,448,485	2,373,358
Stockholders' deficit
Preferred Stock, Value	0	0
Common Stock, Value	1,793	1,793
Additional paid-in capital	4,431,758	4,425,468
Accumulated deficit	(6,833,717)	(6,769,831)
Total stockholders' deficit	(2,400,166)	(2,342,570)
Total liabilities and stockholders' deficit	$ 48,319	$ 30,788

XML

Consolidated Balance Sheets - Parenthetical - $ / shares	Jun. 30, 2025	Dec. 31, 2024
Details {1}
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	5,000,000	5,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	295,000,000	295,000,000
Common Stock, Shares, Issued	17,925,950	17,925,950
Common Stock, Shares, Outstanding	17,925,950	17,925,950

XML

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
REVENUES
Revenues		$ 1,893	$ 0	$ 4,154
Costs of revenues		(744)	0	(1,874)
Gross margin	$ 0	1,149	0	2,280
OPERATING EXPENSES
General and administrative	63,893	77,689	131,003	151,870
Professional fees	53,665	49,119	77,349	79,042
Total operating expenses	117,558	126,808	208,352	230,912
LOSS FROM OPERATIONS	(117,558)	(125,659)	(208,352)	(228,632)
OTHER INCOME (EXPENSE)
Gain on extinguishment of debt	0	0	174,935	0
Interest expense	(14,616)	(13,460)	(30,469)	(26,558)
Total other income (expense)	(14,616)	(13,460)	144,466	(26,558)
Net Income (Loss)	$ (132,174)	$ (139,119)	$ (63,886)	$ (255,190)
BASIC AND DILUTED NET LOSS PER SHARE	$ (0.01)	$ (0.01)	$ (0)	$ (0.01)
BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	17,925,950	17,408,148	17,925,950	17,339,743

XML

Condensed Consolidated Statements of Shareholders' Deficit - USD ($)	Common Stock	Additional Paid-in Capital	Retained Earnings	Total
Equity, Attributable to Parent, Beginning Balance at Dec. 31, 2023	$ 1,733	$ 4,325,474	$ (6,305,488)	$ (1,978,281)
Shares, Outstanding, Beginning Balance at Dec. 31, 2023	17,325,950
Stock-based compensation on RSA's vested	$ 0	15,875	0	15,875
Net Income (Loss)	0	0	(116,071)	(116,071)
Equity, Attributable to Parent, Ending Balance at Mar. 31, 2024	$ 1,733	4,341,349	(6,421,559)	(2,078,477)
Shares, Outstanding, Ending Balance at Mar. 31, 2024	17,325,950
Equity, Attributable to Parent, Beginning Balance at Dec. 31, 2023	$ 1,733	4,325,474	(6,305,488)	(1,978,281)
Shares, Outstanding, Beginning Balance at Dec. 31, 2023	17,325,950
Stock-based compensation on RSA's vested				35,790
Net Income (Loss)				(255,190)
Equity, Attributable to Parent, Ending Balance at Jun. 30, 2024	$ 1,773	4,386,224	(6,560,678)	(2,172,681)
Shares, Outstanding, Ending Balance at Jun. 30, 2024	17,728,450
Equity, Attributable to Parent, Beginning Balance at Mar. 31, 2024	$ 1,733	4,341,349	(6,421,559)	(2,078,477)
Shares, Outstanding, Beginning Balance at Mar. 31, 2024	17,325,950
Stock-based compensation on RSA's vested	$ 0	19,915	0	19,915
Net Income (Loss)	0	0	(139,119)	(139,119)
Equity, Attributable to Parent, Ending Balance at Jun. 30, 2024	$ 1,773	4,386,224	(6,560,678)	(2,172,681)
Shares, Outstanding, Ending Balance at Jun. 30, 2024	17,728,450
Common stock sold for cash	$ 6	24,994	0	25,000
Common stock sold for cash Shares	62,500
Common stock issued for Restricted Stock Awards	$ 34	(34)	0	0
Common stock issued for Restricted Stock Awards Shares	340,000
Equity, Attributable to Parent, Beginning Balance at Dec. 31, 2024	$ 1,793	4,425,468	(6,769,831)	(2,342,570)
Shares, Outstanding, Beginning Balance at Dec. 31, 2024	17,925,950
Stock-based compensation on RSA's vested	$ 0	3,145	0	3,145
Net Income (Loss)	0	0	68,288	68,288
Equity, Attributable to Parent, Ending Balance at Mar. 31, 2025	$ 1,793	4,428,613	(6,701,543)	(2,271,137)
Shares, Outstanding, Ending Balance at Mar. 31, 2025	17,925,950
Equity, Attributable to Parent, Beginning Balance at Dec. 31, 2024	$ 1,793	4,425,468	(6,769,831)	(2,342,570)
Shares, Outstanding, Beginning Balance at Dec. 31, 2024	17,925,950
Stock-based compensation on RSA's vested				6,290
Net Income (Loss)				(63,886)
Equity, Attributable to Parent, Ending Balance at Jun. 30, 2025	$ 1,793	4,431,758	(6,833,717)	(2,400,166)
Shares, Outstanding, Ending Balance at Jun. 30, 2025	17,925,950
Equity, Attributable to Parent, Beginning Balance at Mar. 31, 2025	$ 1,793	4,428,613	(6,701,543)	(2,271,137)
Shares, Outstanding, Beginning Balance at Mar. 31, 2025	17,925,950
Stock-based compensation on RSA's vested	$ 0	3,145	0	3,145
Net Income (Loss)	0	0	(132,174)	(132,174)
Equity, Attributable to Parent, Ending Balance at Jun. 30, 2025	$ 1,793	$ 4,431,758	$ (6,833,717)	$ (2,400,166)
Shares, Outstanding, Ending Balance at Jun. 30, 2025	17,925,950

XML

Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss)	$ (63,886)	$ (255,190)
Adjustments to reconcile net income (loss) to net cash used by operating activities
Gain on extinguishment of debt	(174,935)	0
Stock-based compensation on RSA's vested	6,290	35,790
Changes in operating assets and liabilities
Accounts receivable	0	2,560
Prepaid expenses	(4,986)	(210)
Accounts payable	(23,108)	17,120
Accrued legal fees	9,375	18,958
Accrued payroll and payroll taxes	92,072	92,072
Accrued liabilities	(436)	755
Accrued liabilities related party	24,000	24,000
Accrued interest payable	20,135	7,601
Accrued interest payable related party	960	0
Net cash used in operating activities	(114,519)	(56,544)
CASH FLOWS FROM INVESTING ACTIVITIES	0	0
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of common stock	0	25,000
Proceeds from issuance of convertible notes payable	105,000	10,000
Proceeds from issuance of convertible notes payable - related party	25,000	0
Proceeds from related party loans and advances	13,084	23,562
Repayment of related party loans and advances	(16,020)	0
Net cash provided by financing activities	127,064	58,562
NET CHANGE IN CASH	12,545	2,018
CASH AT BEGINNING OF PERIOD	413	0
CASH AT END OF PERIOD	12,958	2,018
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Interest paid	0	0
Income taxes	0	0
NON-CASH INVESTING AND FINANCING ACTIVITIES
Accounts payable exchanged for convertible note payable	8,270	0
Accrued legal fees exchanged for convertible note payable	250,000	0
Accrued liabilities exchanged for convertible note payable	26,000	0
Note payable exchanged for convertible note payable	17,167	0
Accrued interest exchanged for convertible note payable	2,663	0
Repayment of related party short-term advances with credit card	$ 568	$ 1,167

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NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

6 Months Ended

Jun. 30, 2025

Notes

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

NOTE 1 – ORGANIZATION AND OPERATIONS

Farmhouse, Inc. (the “Company”) is a Nevada corporation focused on technology and brand development. The Company operates through its wholly owned subsidiaries, including Farmhouse Washington and Farmhouse DTLA, Inc., and holds a portfolio of intellectual property assets, including domains and assorted trademarks. It is currently focused on strategic acquisitions to leverage its public company platform and enhance shareholder value.

Share Exchange Agreement with Thrown, LLC

On September 10, 2024, the Company entered into a Share Exchange Agreement (“SEA”) with Thrown, LLC (“Thrown”) and its members. Thrown is a beverage company and its initial product is Good Game by T-Pain, a nootropic esports beverage packaged in 2-ounce servings. Under the SEA, the Company will acquire all the membership interests of Thrown in exchange for 5,130,000 newly issued shares of common stock. As of the date of this report, the transaction has not closed, and discussions with Thrown management are ongoing. See Note 3.

Proposed Acquisition of Ledgewood Holdings, LLC

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.

Potential Crypto Treasury Strategy

In addition to pursuing strategic acquisitions such as those previously disclosed with Thrown, LLC and Ledgewood Holdings, LLC, management is evaluating potential treasury and capital management strategies involving digital assets, including Bitcoin. The Company has engaged in preliminary discussions with multiple parties, including cryptocurrency financing and investment platforms, regarding possible structures to implement such a strategy. These discussions are exploratory in nature, and no binding agreements or definitive plans have been reached. There can be no assurance that any such strategy will be pursued or implemented, or that it will generate the anticipated benefits.

Going Concern and Management Plans

The accompanying condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern. For the six months ended June 30, 2025, the Company incurred a loss from operations of $208,352 and had a stockholders’ deficit of $2,400,166. These conditions raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date these financial statements are issued.

Management intends to address this uncertainty through continued financing from officer loans, third-party borrowings, and equity sales. While no assurance can be given, management believes these sources will provide sufficient liquidity to support operations in the near term.

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2025

Notes

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

This summary of significant accounting policies is presented to assist the reader in understanding and evaluating the Company’s unaudited interim condensed consolidated financial statements. These accounting policies conform to Generally Accepted Accounting Principles (“GAAP”) in the United States and have been consistently applied in the preparation of these unaudited interim condensed consolidated financial statements.

Basis of Presentation

The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”), as issued by the Financial Accounting Standards Board (“FASB”), and the rules of the SEC applicable to interim financial reporting. They do not include all of the information and footnotes required for complete annual financial statements and should be read in conjunction with the Company’s 2024 Form 10-K. In the opinion of management, all normal recurring adjustments considered necessary for a fair presentation have been included. References to the “ASC” refer to the Accounting Standards Codification established by FASB.

Principals of Consolidation

The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, Farmhouse Washington and DTLA, Inc. All intercompany balances and transactions have been eliminated in consolidation.

Use of Estimates

The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, expenses, and related disclosures. Significant estimates include, but are not limited to, the valuation of convertible debt and stock-based compensation, deferred tax assets and associated valuation allowances, and fair value measurements. Actual results could differ materially from those estimates.

Reclassifications

Certain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications had no effect on previously reported net income or stockholders’ equity.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash held in checking and savings accounts and highly liquid investments with original maturities of six months or less at the time of purchase. The Company had no cash equivalents as of June 30, 2025 or December 31, 2024.

Fair Value of Financial Instruments

The Company follows ASC 820, Fair Value Measurements, for assets and liabilities measured at fair value on a recurring or nonrecurring basis. Fair value is defined as the price to sell an asset or transfer a liability in an orderly transaction between market participants. The three-tier hierarchy prioritizes inputs used in valuation techniques: Level 1 (quoted prices in active markets), Level 2 (observable inputs other than quoted prices), and Level 3 (unobservable inputs). The Company’s financial instruments, including cash, accounts payable, and notes payable, are recorded at cost, which approximates fair value due to their short-term maturities.

Revenue Recognition

The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers, by evaluating contracts under the five-step model: (1) identify the contract, (2) identify the performance obligations, (3) determine the transaction price, (4) allocate the transaction price, and (5) recognize revenue as performance obligations are satisfied.

The Company generated no revenue for the six months ended June 30, 2025. In prior periods, the Company generated immaterial revenue from license fees under NFT licensing agreements. The Company’s performance obligation was met when the licensee was granted access to the NFTs. As discussed in Note 1, the Company does not expect to generate future revenue from these agreements.

Related Party Transactions

The Company accounts for related party transactions in accordance with ASC 850, Related Party Disclosures. Transactions with related parties are identified and evaluated for appropriate disclosure and accounting. See Note 6.

Commitments and Contingencies

The Company evaluates commitments and contingencies in accordance with ASC 450, Contingencies. Liabilities are accrued when the loss is probable and reasonably estimable. Legal costs are expensed as incurred. See Note 10.

Segment Reporting

In accordance with ASC 280, Segment Reporting, the Company operates in a single reportable segment. The Chief Financial Officer is the Chief Operating Decision Maker. The CODM reviews financial performance based on consolidated operating results, including revenue, gross profit, and net loss. No disaggregated operating results are regularly reviewed below the consolidated level, and no discrete segment-level information is maintained. To date the Company has generated all revenues from third parties located in the United States and all of the Company’s assets are located in the United States.

Net Income (Loss) per Common Share

Basic earnings (loss) per share is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted earnings per share include the effect of potentially dilutive securities such as stock options and convertible instruments but are excluded when the effect would be anti-dilutive. As of June 30, 2025 and 2024 the Company had convertible notes outstanding, however, certain events that would trigger, or allow for, conversion had not yet occurred; therefore as of those dates the Company had no potentially dilutive securities.

Stock-Based Compensation

The Company accounts for stock-based awards in accordance with ASC 718, Compensation – Stock Compensation. Equity awards, including restricted stock awards (“RSAs”), are measured at fair value on the grant date and expensed over the requisite service period. The fair value of RSAs is based on the closing price of the Company’s common stock on the date of grant. Stock option valuation, when applicable, is based on the Black-Scholes option pricing model. See Note 9.

Subsequent Events

The Company evaluates subsequent events in accordance with ASC 855, Subsequent Events. The Company assesses events occurring after the balance sheet date but before the financial statements are issued to determine whether such events should be recognized in the financial statements or disclosed in the notes. See Note 11.

Recently Issued Accounting Pronouncements

The Company has evaluated all recently issued accounting pronouncements by the Financial Accounting Standards Board, including those not yet effective, and does not expect any of these standards to have a material impact on its unaudited interim condensed consolidated financial statements or related disclosures.

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NOTE 3 - DEPOSIT ON INVESTMENT

6 Months Ended

Jun. 30, 2025

Notes

NOTE 3 - DEPOSIT ON INVESTMENT

NOTE 3 – DEPOSIT ON INVESTMENT

As discussed in Note 1, the Company entered into a Share Exchange Agreement with Thrown, LLC and its members for a proposed acquisition of all membership interests of Thrown, a beverage company whose initial product is Good Game by T-Pain, a nootropic functional esports beverage. Pursuant to the SEA, the Company issued 187,500 shares to Thrown as an equity deposit at an agreed value of $75,000. The fair market value of the stock on the issuance date, based on the closing price on the OTCQB market, was $0.1396 per share, or approximately $26,175.

Because the closing conditions had not been satisfied as of June 30, 2025, control of Thrown had not transferred under ASC 805. Therefore, the Company recorded the fair value of the shares issued as a Deposit for Investment. This deposit represents an advance made in anticipation of completing the acquisition. As of the date of this report, the transaction had not closed and discussions with Thrown management regarding closing conditions remain ongoing. If the transaction does not close, the shares will be treated as a break-up fee and charged to expense.

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NOTE 4 - CONVERTIBLE NOTES PAYABLE, IN DEFAULT

6 Months Ended

Jun. 30, 2025

Notes

NOTE 4 - CONVERTIBLE NOTES PAYABLE, IN DEFAULT

NOTE 4 – CONVERTIBLE NOTES PAYABLE, IN DEFAULT

Convertible notes payable is comprised of a promissory note issued to an unrelated individual with a principal amount of $45,000 as of June 30, 2025 and December 31, 2024. Principal and accrued interest were originally due in July 2018, and the note is currently in default. The note bears interest at a rate of 18% per annum, accrues monthly, and is unsecured.

The note, together with all unpaid accrued interest, is automatically convertible in full upon the closing of a qualified financing. A qualified financing is defined as an equity financing resulting in gross proceeds to the Company of at least $750,000 (including the conversion of this note and other debt). Upon a qualified financing, the conversion price would be equal to 100% of the per share price paid by investors in the financing, subject to the following valuation adjustments: (i) if the Company’s valuation associated with the qualified financing is less than $15,000,000, the conversion price shall be based on a $15,000,000 valuation; and (ii) if the valuation exceeds $30,000,000, the conversion price shall be based on a $30,000,000 valuation.

Interest expense related to the convertible note was $4,017 and $4,040 for the six months ended June 30, 2025 and 2024, respectively, and $2,019 and $2,021 for the three months ended June 30, 2025 and 2024, respectively. Accrued interest was $64,534 and $60,517 as of June 30, 2025 and December 31, 2024, respectively.

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NOTE 5 - NOTES PAYABLE

6 Months Ended

Jun. 30, 2025

Notes

NOTE 5 - NOTES PAYABLE

NOTE 5 – NOTES PAYABLE

Notes payable is comprised of the following:

	June 30, 2025		December 31, 2024
Loan agreement with an unaffiliated individual, interest at 6% per annum, due December 16, 2021. In default.	$	50,000	$	50,000
Note payable to unaffiliated individual, interest at 20% per annum, due October 26, 2024. In default.		5,000		5,000
Note payable to unaffiliated individual, interest at 20% per annum, due October 26, 2024. In default.		5,000		5,000
Note payable to unaffiliated individual, interest at 12% per annum, due January 2, 2025. (1)		-		11,667
Note payable to unaffiliated individual, interest at 20% per annum, due February 9, 2025. (1)		-		5,500
Note payable to unaffiliated individual, interest at 20% per annum, due March 30, 2025. In default		8,400		8,400
Total Notes Payable	$	68,400	$	85,567

(1)Note payable converted into a Series 2025 Note. See Note 7.  

In 2021, the Company entered into a loan agreement with an unaffiliated individual (the “Lender”) for borrowings up to $75,000 and received a first advance of $50,000. Borrowings under this loan are senior in priority to any other indebtedness of the Company. The Company’s Chief Executive Officer personally and unconditionally guaranteed repayment of the loan. As of the date of this report, the note remains unpaid and is in default.

Except for the $50,000 note discussed in the paragraph above, each of the notes to unaffiliated individuals bear interest at the stated annual rate, calculated based on the actual number of days elapsed over a 365-day year. All notes are unsecured and provide for acceleration of payment upon the occurrence of customary events of default, including non-payment, insolvency, bankruptcy, or a change of control of the Company. The notes have not been registered under the Securities Act of 1933, as amended, and the holders have represented that they are acquiring the notes for investment purposes only and not with a view to distribution.

On March 31, 2025, two notes in the principal amounts of $11,667 and $5,500, together with accrued interest of $1,733 and $705, respectively, were converted into new Series 2025 10% Mandatorily Convertible Notes. See Note 7.

Interest expense on notes payable was $4,618 and $1,858 for the six months ended June 30, 2025 and 2024, respectively, and $1,666 and $1,110 for the three months ended June 30, 2025 and 2024, respectively. Accrued interest was $15,750 and $13,569 as of June 30, 2025 and December 31, 2024, respectively.

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NOTE 6 - DUE TO RELATED PARTIES

6 Months Ended

Jun. 30, 2025

Notes

NOTE 6 - DUE TO RELATED PARTIES

NOTE 6 – DUE TO RELATED PARTIES

Due to related parties is comprised of the following:

	June 30, 2025		December 31, 2024
Loans from Company officers	$	66,045	$	69,549
Accrued liability to contracted CFO		242,000		218,000
Note Payable to Officer, in default		4,500		4,500
Accrued interest on related party notes		1,308		348
Total due to related parties – current		313,853		292,397
Convertible note payable to related party – long  term (see Note 7)		25,000		-
Total due to related parties – long-term		25,000		-
Total due to related parties	$	338,339	$	292,397

As of June 30, 2025 and December 31, 2024, loans from Company officers totaled $66,045 and $69,549, respectively. These amounts represent cash advances made by Company officers to fund operating expenses and direct payments made by Company officers on behalf of the Company. All amounts due to related parties are non-interest bearing and unsecured. For the six months ended June 30, 2025, Company officers advanced a total of $13,084 to the Company and were repaid $16,020 in cash and $568 through personal charges to the Company’s credit card. For the six months ended June 30, 2024, Company officers advanced $23,562 and were repaid $1,167 through personal charges to the Company’s credit card.

The Company’s Chief Financial Officer is engaged under a consulting arrangement and is not a W-2 employee. The Company recognized $24,000 in compensation expense for the six months ended June 30, 2025 and 2024 and $12,000 in compensation expense for the three months ended June 30, 2025 and 2024. As of June 30, 2025 and December 31, 2024, accrued but unpaid fees totaled $242,000 and $218,000, respectively, for services provided since 2021.

On August 12, 2024, the Company entered into an unsecured promissory note with the Company’s Chief Executive Officer in the principal amount of $4,500. The note bears interest at a rate of 20% per annum, calculated based on the actual number of days elapsed over a 365-day year. All unpaid principal and accrued but unpaid interest was due and payable in full on February 12, 2025. The note provides for acceleration of payment upon the occurrence of customary events of default, including the Company’s failure to pay amounts due, insolvency, bankruptcy, or a change of control, as defined in the note. Because the note was issued to the Company’s Chief Executive Officer, it is classified as a related party transaction under applicable accounting standards. As of the date of this report, the note remains unpaid and is in default. Interest expense on this note was $446 and zero for the six months ended June 30, 2025 and 2024, respectively, and $224 and zero for the three months ended June 30, 2025 and 2024, respectively.

On April 18, 2025, the Company issued a Series 2025 Note, as described in Note 7, for $25,000 cash to the spouse of a Company director. The note is due April 18, 2028. The note is considered a related party transaction but was issued on the same terms as those offered to unaffiliated investors and was executed on an arm’s length basis.

Interest expense on this note was $514 and zero for the six months ended June 30, 2025 and 2024, respectively, and $514 and zero for the three months ended June 30, 2025 and 2024, respectively. Accrued interest on related party notes was $1,308 and $348 as of June 30, 2025 and December 31, 2024, respectively.

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NOTE 7 - CONVERTIBLE NOTES PAYABLE - LONG-TERM

6 Months Ended

Jun. 30, 2025

Notes

NOTE 7 - CONVERTIBLE NOTES PAYABLE - LONG-TERM

NOTE 7 – CONVERTIBLE NOTES PAYABLE – LONG-TERM

Convertible notes payable – long-term is comprised of the following:

	June 30, 2025		December 31, 2024
Series 2023 Notes
Note payable to unaffiliated individual, interest at 10% per annum, $25,000 due June 1, 2026 and $4,000 due September 30, 2026.	$	29,000	$	29,000
Note payable to unaffiliated individual, interest at 10% per annum, due October 2, 2026.		5,000		5,000
Series 2025 Notes				-
Note payable to unaffiliated individual, interest at 10% per annum, due February 24, 2028.		10,000		-
Note payable to unaffiliated individual, interest at 10% per annum, due March 18, 2028. (1)		61,000		-
Note payable to unaffiliated individual, interest at 10% per annum, due March 31, 2028. (2)		6,200		-
Note payable to unaffiliated individual, interest at 10% per annum, due March 31, 2028. (2)		13,400		-
Note payable to unaffiliated individual, interest at 10% per annum, due March 31, 2028. (3)		250,000		-
Note payable to unaffiliated individual, interest at 10% per annum, due March 31, 2028. (4)		8,500		-
Note payable to unaffiliated individual, interest at 10% per annum, due April 16, 2028.		25,000		-
Note payable to unaffiliated individual, interest at 10% per annum, due April 21, 2028.		12,500		-
Note payable to unaffiliated individual, interest at 10% per annum, due April 28, 2028.		12,500		-
Note payable to unaffiliated individual, interest at 10% per annum, due June 23, 2028.		10,000		-
Total Convertible Notes Payable – Long-term	$	443,100	$	34,000

See narrative below under The Series 2025 Notes related to these footnotes:

(1)Represents partial conversion of accrued liability.  

(2)Represents conversion of existing promissory note.  

(3)Represents conversion of accrued legal fees and finance charges.  

(4)Represents conversion of existing accounts payable to individual.  

The Series 2023 Notes

In May 2023, the Board of Directors authorized an offering of up to $1,000,000 of mandatorily convertible notes, designated as Series 2023 10% Mandatorily Convertible Notes (the “Series 2023 Notes”), to fund Web3 product development activities as well as sales, marketing, and administrative expenses. The Series 2023 Notes are mandatorily convertible 30 calendar days after the earliest to occur of: (i) the Company’s common stock achieving a closing price greater than $1.00 for ten consecutive trading days (a “Market Forced Conversion”), or (ii) the Company completing an offering of common stock resulting in gross proceeds of at least $1,000,000 (an “Offering Forced Conversion”). Upon conversion, the Series 2023 Notes will automatically convert into shares of common stock at a conversion price equal to 75.8% of: (i) the closing price of the Company’s common stock on the tenth trading day for a Market Forced Conversion, or (ii) the offering price of the Company’s common stock for an Offering Forced Conversion.

The number of shares issuable upon conversion is determined by adding the principal amount of the Series 2023 Notes, accrued and unpaid interest, and any applicable default interest, and dividing by the applicable conversion price. The conversion price is subject to equitable adjustments for stock splits, stock dividends or rights offerings by the Company, combinations, recapitalizations, reclassifications, extraordinary distributions, and similar events. Assuming the Series 2023 Notes are not mandatorily converted as discussed above, maturity will be in the fiscal year ended December 31, 2026.

Interest expense related to the Series 2023 Notes was $1,694 and $1,703 for the six months ended June 30, 2025 and 2024, respectively, and $854 and $851 for the three months ended June 30, 2025 and 2024. Accrued interest on the Series 2023 Notes was $6,835 and $5,141 as of June 30, 2025 and December 31, 2024, respectively.

The Series 2025 Notes

For the six months ended June 30, 2025, the Company raised additional funding under the aforementioned offering. These new notes are designated as Series 2025 10% Mandatorily Convertible Notes (the “Series 2025 Notes”). The Series 2025 Notes are identical in all respects to the Series 2023 Notes except they convert at 50% of the offering price, or if the Company’s common stock trades at or above $1.00 per share ($0.50 per share for the March 18 Note) for ten consecutive trading days, in which case they convert at 50% of the closing price on the tenth day. Proceeds from the Series 2025 Notes are being used for general corporate purposes.

On March 18, 2025, the Company issued a Series 2025 Note in the principal amount of $61,000 to an individual investor. The principal amount includes $26,000 of previously accrued liabilities for services rendered, which was exchanged in accordance with a liability conversion agreement executed on the same date. The remaining $35,000 represents new cash proceeds received by the Company. Upon execution of the Series 2025 Note, the previously recorded liability was extinguished and reclassified as part of the convertible debt obligation.

On April 25, 2025, the Board approved the exchange of certain outstanding liabilities into Series 2025 Notes, effective as of March 31, 2025. These include the following:

·A promissory note with a principal and accrued interest balance of $6,205, was exchanged for a new Series 2025 Note in the face amount of $6,200. The Company recorded a gain on extinguishment of debt of $5 for the six months ended June 30, 2025 upon the exchange. 

·Outstanding accrued legal fees and finance charges totaling $424,930 were exchanged for a new Series 2025 Note in the face amount of $250,000. The Company recorded a gain on extinguishment of debt of $174,930 for the six months ended June 30, 2025 upon the exchange. 

·An outstanding and overdue accounts payable of $8,270 and accrued interest of $230 was exchanged for a new Series 2025 Note in the face amount of $8,500.  

·A promissory note with a principal balance of $11,667 and accrued interest balance of $1,733, was exchanged for a new Series 2025 Note in the face amount of $13,400.  

The following Series 2025 Notes were issued for cash during the six months ended June 30, 2025

·$10,000 issued to an unrelated individual on February 24, 2025.  

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

·$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. 

Interest expense related to the Series 2025 Notes was $9,574 for the six months ended June 30, 2025 and $9,340 the three months ended June 30, 2025. Accrued interest on the Series 2025 Notes was $9,574 and zero as of June 30, 2025 and December 31, 2024, respectively.

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NOTE 8 - STOCKHOLDER'S EQUITY

6 Months Ended

Jun. 30, 2025

Notes

NOTE 8 - STOCKHOLDER'S EQUITY

NOTE 8 – STOCKHOLDERS’ DEFICIT

The Company is authorized to issue 295,000,000 shares of common stock, $0.0001 par value per share, and 5,000,000 shares of undesignated preferred stock, $0.0001 par value per share. The Board of Directors has the authority, in its sole discretion, to establish series of preferred stock and to fix the par value, dividend rates, designations, preferences, privileges, and restrictions of each series. No shares of preferred stock were issued or outstanding as of June 30, 2025 or December 31, 2024.

As of June 30, 2025, the Company had not reserved any shares of common stock for future issuance. While the Company is required to reserve shares to satisfy potential conversions of its outstanding convertible note payable (see Note 4) and Series 2023 and Series 2025 Notes (see Note 8), those instruments were not convertible as of June 30, 2025. The number of shares issuable upon conversion is not currently determinable and will depend on future events, including pricing triggers specified in the respective agreements.

There were no common stock transactions during the six months ended June 30, 2025. The Company had 17,925,950 shares issued and outstanding as of June 30, 2025.

Common stock transactions for the six months ended June 30, 2024 were as follows:

·On May 17, 2024, the Board granted Restricted Stock Awards (“RSAs”) totaling 340,000 shares of common stock under the 2021 OIP. 

·On May 28, 2024, the Company issued 62,500 shares of common stock to an unrelated third party in connection with a Subscription Agreement priced at $0.40 per share for cash proceeds of $25,000. 

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NOTE 9 - STOCK-BASED COMPENSATION AND RESTRICTED STOCK AWARDS

6 Months Ended

Jun. 30, 2025

Notes

NOTE 9 - STOCK-BASED COMPENSATION AND RESTRICTED STOCK AWARDS

NOTE 9 – STOCK-BASED COMPENSATION AND RESTRICTED STOCK AWARDS

In May 2021, the Board of Directors approved the Farmhouse, Inc. 2021 Omnibus Incentive Plan (“2021 OIP”), permitting the issuance of up to 3,000,000 shares of common stock through awards of stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance units, other stock-based awards, and cash-based awards. The 2021 OIP was ratified by stockholders holding a majority of the Company’s outstanding shares.

Options granted under the 2021 OIP may be either incentive stock options, as defined by Section 422 of the Internal Revenue Code, or nonqualified stock options. The exercise price of options must not be less than 100% of the fair market value of the Company’s common stock on the date of grant (110% for holders of more than 10% of the voting stock). Options become exercisable as determined by the Board of Directors and expire no later than ten years from the date of grant (five years for optionees owning more than 10% of voting stock).

Restricted stock awards are issued at fair market value on the grant date and typically vest in monthly or quarterly installments, subject to continued service. Stock-based compensation for RSAs is recognized on a straight-line basis over the vesting period.

Restricted Stock Awards

The Company accounts for stock-based compensation in accordance with ASC 718, Compensation – Stock Compensation, recognizing expense based on the grant-date fair value of awards over the requisite service period. All awards were in the form of Restricted Stock Awards granted under the 2021 Omnibus Incentive Plan. RSAs are valued based on the closing price of the Company’s common stock on the OTCQB market on the date of grant, and expense is recognized as the shares vest. No stock options or other equity instruments were granted during the periods presented.

The following table summarizes RSA activity for the periods presented:

	Number of RSAs		Weighted Average Grant Date Fair Value
Balance as of January 1, 2025		220,000	$	0.076
Awarded		-	$	-
Vested		85,000	$	0.074
Forfeited		-	$	-
Balance as of June 30, 2025		135,000	$	0.078

Stock-based compensation expense was $6,290 and $35,790 for the six months ended June 30, 2025 and 2024, respectively, and $3,145 and $19,915 for the three months ended June 30, 2025 and 2024, respectively. As of June 30, 2025, the Company had $10,490 of unrecognized compensation expense related to non-vested RSAs, which is expected to be recognized over a weighted-average remaining period of approximately 0.93 years. Expense recognition is expected to be $6,290 for the remainder of 2025 and $4,200 in 2026.

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NOTE 10 - COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jun. 30, 2025

Notes

NOTE 10 - COMMITMENTS AND CONTINGENCIES

NOTE 10 – COMMITMENTS AND CONTINGENCIES

From time to time, the Company may be involved in legal proceedings, claims, or regulatory matters. Management evaluates potential liabilities in consultation with legal counsel and currently does not believe that any existing matters will have a material adverse effect on its financial position or results of operations. The Company also has indemnification agreements with its officers and directors that provide for uncapped indemnity, although the Company believes the likelihood of material payments is remote.

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NOTE 11 - SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2025

Notes

NOTE 11 - SUBSEQUENT EVENTS

NOTE 11 – SUBSEQUENT EVENTS

As of the date of this report, there were no subsequent events requiring adjustment or disclosure, except as noted below or disclosed elsewhere in these consolidated financial statements.

Restricted Stock Award Issuance

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.

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Basis of Presentation (Policies)

6 Months Ended

Jun. 30, 2025

Policies

Basis of Presentation

Basis of Presentation

The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”), as issued by the Financial Accounting Standards Board (“FASB”), and the rules of the SEC applicable to interim financial reporting. They do not include all of the information and footnotes required for complete annual financial statements and should be read in conjunction with the Company’s 2024 Form 10-K. In the opinion of management, all normal recurring adjustments considered necessary for a fair presentation have been included. References to the “ASC” refer to the Accounting Standards Codification established by FASB.

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Principles of Consolidation (Policies)

6 Months Ended

Jun. 30, 2025

Policies

Principles of Consolidation

Principals of Consolidation

The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, Farmhouse Washington and DTLA, Inc. All intercompany balances and transactions have been eliminated in consolidation.

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Use of Estimates (Policies)

6 Months Ended

Jun. 30, 2025

Policies

Use of Estimates

Use of Estimates

The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, expenses, and related disclosures. Significant estimates include, but are not limited to, the valuation of convertible debt and stock-based compensation, deferred tax assets and associated valuation allowances, and fair value measurements. Actual results could differ materially from those estimates.

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Reclassifications (Policies)

6 Months Ended

Jun. 30, 2025

Policies

Reclassifications

Reclassifications

Certain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications had no effect on previously reported net income or stockholders’ equity.

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Cash and Cash Equivalents (Policies)

6 Months Ended

Jun. 30, 2025

Policies

Cash and Cash Equivalents

Cash and Cash Equivalents

Cash and cash equivalents consist of cash held in checking and savings accounts and highly liquid investments with original maturities of six months or less at the time of purchase. The Company had no cash equivalents as of June 30, 2025 or December 31, 2024.

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Fair Value of Financial Instruments (Policies)

6 Months Ended

Jun. 30, 2025

Policies

Fair Value of Financial Instruments

Fair Value of Financial Instruments

The Company follows ASC 820, Fair Value Measurements, for assets and liabilities measured at fair value on a recurring or nonrecurring basis. Fair value is defined as the price to sell an asset or transfer a liability in an orderly transaction between market participants. The three-tier hierarchy prioritizes inputs used in valuation techniques: Level 1 (quoted prices in active markets), Level 2 (observable inputs other than quoted prices), and Level 3 (unobservable inputs). The Company’s financial instruments, including cash, accounts payable, and notes payable, are recorded at cost, which approximates fair value due to their short-term maturities.

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Revenue Recognition (Policies)

6 Months Ended

Jun. 30, 2025

Policies

Revenue Recognition

Revenue Recognition

The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers, by evaluating contracts under the five-step model: (1) identify the contract, (2) identify the performance obligations, (3) determine the transaction price, (4) allocate the transaction price, and (5) recognize revenue as performance obligations are satisfied.

The Company generated no revenue for the six months ended June 30, 2025. In prior periods, the Company generated immaterial revenue from license fees under NFT licensing agreements. The Company’s performance obligation was met when the licensee was granted access to the NFTs. As discussed in Note 1, the Company does not expect to generate future revenue from these agreements.

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Related Party Transactions (Policies)

6 Months Ended

Jun. 30, 2025

Policies

Related Party Transactions

Related Party Transactions

The Company accounts for related party transactions in accordance with ASC 850, Related Party Disclosures. Transactions with related parties are identified and evaluated for appropriate disclosure and accounting. See Note 6.

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Commitments and Contingencies (Policies)

6 Months Ended

Jun. 30, 2025

Policies

Commitments and Contingencies

Commitments and Contingencies

The Company evaluates commitments and contingencies in accordance with ASC 450, Contingencies. Liabilities are accrued when the loss is probable and reasonably estimable. Legal costs are expensed as incurred. See Note 10.

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Segment Reporting (Policies)

6 Months Ended

Jun. 30, 2025

Policies

Segment Reporting

Segment Reporting

In accordance with ASC 280, Segment Reporting, the Company operates in a single reportable segment. The Chief Financial Officer is the Chief Operating Decision Maker. The CODM reviews financial performance based on consolidated operating results, including revenue, gross profit, and net loss. No disaggregated operating results are regularly reviewed below the consolidated level, and no discrete segment-level information is maintained. To date the Company has generated all revenues from third parties located in the United States and all of the Company’s assets are located in the United States.

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Net Income (Loss) per Common Share (Policies)

6 Months Ended

Jun. 30, 2025

Policies

Net Income (Loss) per Common Share

Net Income (Loss) per Common Share

Basic earnings (loss) per share is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted earnings per share include the effect of potentially dilutive securities such as stock options and convertible instruments but are excluded when the effect would be anti-dilutive. As of June 30, 2025 and 2024 the Company had convertible notes outstanding, however, certain events that would trigger, or allow for, conversion had not yet occurred; therefore as of those dates the Company had no potentially dilutive securities.

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Stock-Based Compensation (Policies)

6 Months Ended

Jun. 30, 2025

Policies

Stock-Based Compensation

Stock-Based Compensation

The Company accounts for stock-based awards in accordance with ASC 718, Compensation – Stock Compensation. Equity awards, including restricted stock awards (“RSAs”), are measured at fair value on the grant date and expensed over the requisite service period. The fair value of RSAs is based on the closing price of the Company’s common stock on the date of grant. Stock option valuation, when applicable, is based on the Black-Scholes option pricing model. See Note 9.

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Subsequent Events (Policies)

6 Months Ended

Jun. 30, 2025

Policies

Subsequent Events

Subsequent Events

The Company evaluates subsequent events in accordance with ASC 855, Subsequent Events. The Company assesses events occurring after the balance sheet date but before the financial statements are issued to determine whether such events should be recognized in the financial statements or disclosed in the notes. See Note 11.

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Recent Accounting Pronouncements (Policies)

6 Months Ended

Jun. 30, 2025

Policies

Recent Accounting Pronouncements

Recently Issued Accounting Pronouncements

The Company has evaluated all recently issued accounting pronouncements by the Financial Accounting Standards Board, including those not yet effective, and does not expect any of these standards to have a material impact on its unaudited interim condensed consolidated financial statements or related disclosures.

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NOTE 5 - NOTES PAYABLE: Schedule of Debt (Tables)

6 Months Ended

Jun. 30, 2025

Notes Payable, Other Payables

Schedule of Debt

Notes payable is comprised of the following:

	June 30, 2025		December 31, 2024
Loan agreement with an unaffiliated individual, interest at 6% per annum, due December 16, 2021. In default.	$	50,000	$	50,000
Note payable to unaffiliated individual, interest at 20% per annum, due October 26, 2024. In default.		5,000		5,000
Note payable to unaffiliated individual, interest at 20% per annum, due October 26, 2024. In default.		5,000		5,000
Note payable to unaffiliated individual, interest at 12% per annum, due January 2, 2025. (1)		-		11,667
Note payable to unaffiliated individual, interest at 20% per annum, due February 9, 2025. (1)		-		5,500
Note payable to unaffiliated individual, interest at 20% per annum, due March 30, 2025. In default		8,400		8,400
Total Notes Payable	$	68,400	$	85,567

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NOTE 6 - DUE TO RELATED PARTIES: Schedule of Related Party Transactions (Tables)

6 Months Ended

Jun. 30, 2025

Tables/Schedules

Schedule of Related Party Transactions

	June 30, 2025		December 31, 2024
Loans from Company officers	$	66,045	$	69,549
Accrued liability to contracted CFO		242,000		218,000
Note Payable to Officer, in default		4,500		4,500
Accrued interest on related party notes		1,308		348
Total due to related parties – current		313,853		292,397
Convertible note payable to related party – long  term (see Note 7)		25,000		-
Total due to related parties – long-term		25,000		-
Total due to related parties	$	338,339	$	292,397

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NOTE 7 - CONVERTIBLE NOTES PAYABLE - LONG-TERM: Schedule of Long-Term Debt Instruments (Tables)

6 Months Ended

Jun. 30, 2025

Notes Payable, Other Payables

Schedule of Long-Term Debt Instruments

	June 30, 2025		December 31, 2024
Series 2023 Notes
Note payable to unaffiliated individual, interest at 10% per annum, $25,000 due June 1, 2026 and $4,000 due September 30, 2026.	$	29,000	$	29,000
Note payable to unaffiliated individual, interest at 10% per annum, due October 2, 2026.		5,000		5,000
Series 2025 Notes				-
Note payable to unaffiliated individual, interest at 10% per annum, due February 24, 2028.		10,000		-
Note payable to unaffiliated individual, interest at 10% per annum, due March 18, 2028. (1)		61,000		-
Note payable to unaffiliated individual, interest at 10% per annum, due March 31, 2028. (2)		6,200		-
Note payable to unaffiliated individual, interest at 10% per annum, due March 31, 2028. (2)		13,400		-
Note payable to unaffiliated individual, interest at 10% per annum, due March 31, 2028. (3)		250,000		-
Note payable to unaffiliated individual, interest at 10% per annum, due March 31, 2028. (4)		8,500		-
Note payable to unaffiliated individual, interest at 10% per annum, due April 16, 2028.		25,000		-
Note payable to unaffiliated individual, interest at 10% per annum, due April 21, 2028.		12,500		-
Note payable to unaffiliated individual, interest at 10% per annum, due April 28, 2028.		12,500		-
Note payable to unaffiliated individual, interest at 10% per annum, due June 23, 2028.		10,000		-
Total Convertible Notes Payable – Long-term	$	443,100	$	34,000

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NOTE 9 - STOCK-BASED COMPENSATION AND RESTRICTED STOCK AWARDS: Schedule of Nonvested Restricted Stock Units Activity (Tables)

6 Months Ended

Jun. 30, 2025

Tables/Schedules

Schedule of Nonvested Restricted Stock Units Activity

	Number of RSAs		Weighted Average Grant Date Fair Value
Balance as of January 1, 2025		220,000	$	0.076
Awarded		-	$	-
Vested		85,000	$	0.074
Forfeited		-	$	-
Balance as of June 30, 2025		135,000	$	0.078

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NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024	Mar. 31, 2025	Dec. 31, 2024	Mar. 31, 2024	Dec. 31, 2023
Details
LOSS FROM OPERATIONS	$ 117,558	$ 125,659	$ 208,352	$ 228,632
Total stockholders' deficit	$ 2,400,166	$ 2,172,681	$ 2,400,166	$ 2,172,681	$ 2,271,137	$ 2,342,570	$ 2,078,477	$ 1,978,281

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NOTE 3 - DEPOSIT ON INVESTMENT (Details)	6 Months Ended
	Jun. 30, 2025 USD ($) shares
Deposit on Investment | $	$ 26,175
Common Stock
Deposit on Investment Shares | shares	187,500

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NOTE 4 - CONVERTIBLE NOTES PAYABLE, IN DEFAULT (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024	Dec. 31, 2024
Convertible notes payable, in default	$ 45,000		$ 45,000		$ 45,000
Equity Financing Description			The note, together with all unpaid accrued interest, is automatically convertible in full upon the closing of a qualified financing. A qualified financing is defined as an equity financing resulting in gross proceeds to the Company of at least $750,000 (including the conversion of this note and other debt). Upon a qualified financing, the conversion price would be equal to 100% of the per share price paid by investors in the financing, subject to the following valuation adjustments: (i) if the Company’s valuation associated with the qualified financing is less than $15,000,000, the conversion price shall be based on a $15,000,000 valuation; and (ii) if the valuation exceeds $30,000,000, the conversion price shall be based on a $30,000,000 valuation.
Accrued interest payable	$ 96,693		$ 96,693		79,226
Convertible Debt
Debt Instrument, Interest Rate, Effective Percentage	18.00%		18.00%
Interest Expense, Debt	$ 2,019	$ 2,021	$ 4,017	$ 4,040
Accrued interest payable	$ 64,534		$ 64,534		$ 60,517

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NOTE 5 - NOTES PAYABLE: Schedule of Debt (Details) - Notes Payable, Other Payables - USD ($)	Jun. 30, 2025	Jun. 30, 2024
Principal Amount	$ 68,400	$ 85,567
December 16, 2021
Debt Instrument, Interest Rate, Effective Percentage	6.00%
Principal Amount	$ 50,000	50,000
October 26, 2024
Debt Instrument, Interest Rate, Effective Percentage	20.00%
Principal Amount	$ 5,000	5,000
October 26, 2024 - 2
Debt Instrument, Interest Rate, Effective Percentage	20.00%
Principal Amount	$ 5,000	5,000
January 2, 2025
Debt Instrument, Interest Rate, Effective Percentage	12.00%
Principal Amount	$ 0	11,667
February 9, 2025
Debt Instrument, Interest Rate, Effective Percentage	20.00%
Principal Amount	$ 0	5,500
March 30, 2025
Debt Instrument, Interest Rate, Effective Percentage	20.00%
Principal Amount	$ 8,400	$ 8,400

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NOTE 5 - NOTES PAYABLE (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024	Dec. 31, 2024
Accrued interest payable	$ 96,693		$ 96,693		$ 79,226
Interest Expense, Operating and Nonoperating	14,616	$ 13,460	30,469	$ 26,558
Notes Payable, Other Payables
Principal Amount	68,400	85,567	68,400	85,567
Lender
Proceeds from Notes Payable			50,000
January 2, 2025 | Notes Payable, Other Payables
Principal Amount	0	11,667	0	11,667
Accrued interest payable		1,733		1,733
February 9, 2025 | Notes Payable, Other Payables
Principal Amount	0	5,500	0	5,500
Accrued interest payable		705		705
Unrelated Individual
Accrued interest payable	15,750		15,750		$ 13,569
Interest Expense, Operating and Nonoperating	$ 1,666	$ 1,110	$ 4,618	$ 1,858

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NOTE 6 - DUE TO RELATED PARTIES: Schedule of Related Party Transactions (Details) - USD ($)	Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2024
Loans From Company Officers
Due to related parties, $4,500 in default	$ 66,045	$ 69,549
Accrued Liability To Contracted Cfo
Due to related parties, $4,500 in default	242,000	218,000	$ 218,000
Note Payable To Officer
Due to related parties, $4,500 in default	4,500	4,500
Accrued Interest On Note Payable To Officer
Due to related parties, $4,500 in default	1,308	348	$ 348
Due to related parties, $4,500 in default	313,853	292,397
Convertible notes payable to related party, long-term	25,000	0
Total due to related parties - long-term	25,000	0
Total due to related parties	$ 338,339	$ 292,397

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NOTE 6 - DUE TO RELATED PARTIES (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024	Dec. 31, 2024
Due to related parties, $4,500 in default	$ 313,853		$ 313,853		$ 292,397
Proceeds from issuance of common stock			0	$ 25,000
Interest Expense, Operating and Nonoperating	14,616	$ 13,460	30,469	26,558
Series 2025 Notes
Proceeds from issuance of common stock			25,000
Interest Expense, Operating and Nonoperating	9,340		9,574
Loans From Company Officers
Due to related parties, $4,500 in default	66,045		66,045		69,549
Accrued Liability To Contracted Cfo
Due to related parties, $4,500 in default	242,000	218,000	242,000	218,000	218,000
Note Payable To Officer
Due to related parties, $4,500 in default	4,500		4,500		4,500
Director
Interest Expense, Operating and Nonoperating	514	0	514	0
Accrued Interest On Note Payable To Officer
Due to related parties, $4,500 in default	$ 1,308	$ 348	$ 1,308	$ 348	$ 348

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NOTE 7 - CONVERTIBLE NOTES PAYABLE - LONG-TERM: Schedule of Long-Term Debt Instruments (Details) - Convertible Debt - USD ($)	Jun. 30, 2025	Jun. 30, 2024
Principal Amount	$ 443,100	$ 34,000
September 30, 2026
Debt Instrument, Interest Rate, Effective Percentage	10.00%
Principal Amount	$ 29,000	29,000
October 2, 2026
Debt Instrument, Interest Rate, Effective Percentage	10.00%
Principal Amount	$ 5,000	5,000
February 24, 2028
Debt Instrument, Interest Rate, Effective Percentage	10.00%
Principal Amount	$ 10,000	0
March 18, 2028
Debt Instrument, Interest Rate, Effective Percentage	10.00%
Principal Amount	$ 61,000	0
March 31, 2028
Debt Instrument, Interest Rate, Effective Percentage	10.00%
Principal Amount	$ 6,200	0
March 31, 2028 2
Debt Instrument, Interest Rate, Effective Percentage	10.00%
Principal Amount	$ 13,400	0
March 31, 2028 3
Debt Instrument, Interest Rate, Effective Percentage	10.00%
Principal Amount	$ 250,000	0
March 31, 2028 4
Debt Instrument, Interest Rate, Effective Percentage	10.00%
Principal Amount	$ 8,500	0
April 16, 2028
Debt Instrument, Interest Rate, Effective Percentage	10.00%
Principal Amount	$ 25,000	0
April 21, 2028
Debt Instrument, Interest Rate, Effective Percentage	10.00%
Principal Amount	$ 12,500	0
April 28, 2028
Debt Instrument, Interest Rate, Effective Percentage	10.00%
Principal Amount	$ 12,500	0
June 23, 2028
Debt Instrument, Interest Rate, Effective Percentage	10.00%
Principal Amount	$ 10,000	$ 0

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NOTE 7 - CONVERTIBLE NOTES PAYABLE - LONG-TERM (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024	Dec. 31, 2024
Accrued interest payable	$ 96,693		$ 96,693		$ 79,226
Accrued liabilities exchanged for convertible note payable			26,000	$ 0
Accounts payable exchanged for convertible note payable			8,270	0
Interest Expense, Operating and Nonoperating	14,616	$ 13,460	30,469	26,558
Convertible Debt
Principal Amount	443,100	34,000	443,100	34,000
March 18, 2028 | Convertible Debt
Principal Amount	61,000	0	61,000	0
March 31, 2028 | Convertible Debt
Principal Amount	6,200	0	6,200	0
March 31, 2028 3 | Convertible Debt
Principal Amount	250,000	0	250,000	0
March 31, 2028 4 | Convertible Debt
Principal Amount	8,500	0	8,500	0
March 31, 2028 2 | Convertible Debt
Principal Amount	13,400	0	13,400	0
February 24, 2028 | Convertible Debt
Principal Amount	10,000	0	10,000	0
April 16, 2028 | Convertible Debt
Principal Amount	25,000	0	25,000	0
April 21, 2028 | Convertible Debt
Principal Amount	12,500	0	12,500	0
April 28, 2028 | Convertible Debt
Principal Amount	12,500	0	12,500	0
June 23, 2028 | Convertible Debt
Principal Amount	10,000	0	10,000	0
Series 2023 Notes
Interest Expense, Debt	854	$ 851	1,694	$ 1,703
Accrued interest payable	6,835		6,835		5,141
Series 2025 Notes
Accrued interest payable	9,574		9,574		$ 0
Interest Expense, Operating and Nonoperating	$ 9,340		$ 9,574

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NOTE 8 - STOCKHOLDER'S EQUITY (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024	Dec. 31, 2024
Common Stock, Shares Authorized		295,000,000		295,000,000
Common Stock, Par or Stated Value Per Share		$ 0.0001		$ 0.0001
Preferred Stock, Shares Authorized		5,000,000		5,000,000
Preferred Stock, Par or Stated Value Per Share		$ 0.0001		$ 0.0001
Common Stock, Shares, Outstanding		17,925,950		17,925,950
Proceeds from issuance of common stock		$ 0	$ 25,000
Common Stock
Common stock issued for Restricted Stock Awards Shares	340,000
Common stock sold for cash Shares	62,500

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NOTE 9 - STOCK-BASED COMPENSATION AND RESTRICTED STOCK AWARDS: Schedule of Nonvested Restricted Stock Units Activity (Details) - $ / shares	6 Months Ended
	Jun. 30, 2025	Dec. 31, 2023
Details
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares	135,000	220,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Option, Nonvested, Weighted Average Exercise Price	$ 0.078	$ 0.076
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Number of Shares, Period Increase (Decrease)	0
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 0
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Number of Shares	85,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Weighted Average Grant Date Fair Value	$ 0.074

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NOTE 9 - STOCK-BASED COMPENSATION AND RESTRICTED STOCK AWARDS (Details) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2025	Jun. 30, 2024
Details
Stock-based compensation on RSA's vested	$ 3,145	$ 3,145	$ 19,915	$ 15,875	$ 6,290	$ 35,790
Unrecognized compensation expense related to non-vested RSAs	$ 10,490				$ 10,490