Farmhouse, Inc. is a nascent company transitioning from a Web3 technology firm to a casual lifestyle brand holding company, actively pursuing acquisitions in the food and beverage industry.

# Company Summary: Farmhouse, Inc.

### Business Focus
- **Current Focus:** Transitioning from a Web3 and technology development company to a **casual lifestyle brand holding company**.
- **Previously:** Engaged in Web3 licensing initiatives focused on NFT art licenses for cannabis and hemp products; these initiatives have been discontinued.
- **Strategic Plans:** Actively pursuing acquisitions in the food and beverage industry, including a proposed purchase of Ledgewood Holdings, LLC and a non-binding agreement to acquire Thrown, LLC—a beverage company known for its product "Good Game" by T-Pain, a nootropic esports beverage.

### Operations and Properties
- **Employees:** 2 full-time executive officers and several independent contractors (including a Chief Financial Officer).
- **Work Environment:** All personnel work remotely.
- **Facilities:** Operates virtually with mailing address at 548 Market Street, Suite 90355, San Francisco, CA 94104.
- **Intellectual Property:** Holds trademarks, domain names, and a social media account (@420 Twitter handle); however, these are not central to current operations due to ongoing diversification.

### Revenue and Financials
- **Revenue:** 
  - For the year ended December 31, 2024: **$4,154**.
  - For the year ended December 31, 2023: **$15,227**.
  - Revenue is primarily from **NFT licensing agreements** related to cannabis and hemp product branding.
  - Discontinued revenue stream: NFT licensing; no future revenue expected from it.

- **Expenses & Losses:**
  - Operating expenses for 2024: **$410,668**.
  - Operating expenses for 2023: **$517,843**.
  - Net loss for 2024: **$464,343**.
  - Net loss for 2023: **$560,789**.
  - Operating expenses decreased primarily due to lower stock-based compensation and consulting fees.

### Market and Shareholder Data
- **Stock Trading:** Listed on OTCQB under the symbol "FMHS."
- **Stock Price (as of June 20, 2025):** Ranged from $0.0002 to $0.0149.
- **Shares Outstanding:** 17,925,950 shares as of June 20, 2025.
- **Market Capitalization (most recent estimate):** Approximately **$1,979** (based on $.0002 share price).
- **Shareholders:** 140 record holders.
- **Ownership:** Officers and directors hold about **45.7%** of the shares outstanding.

### Notable Recent Activities
- **Share Exchange Agreement:** Entered into a tentative deal to acquire Thrown, LLC, representing approx. 25% of outstanding shares upon closing—transaction not yet finalized.
- **Proposed Acquisition of Ledgewood Holdings:** Non-binding agreement to acquire a multi-franchise operator with ~$31 million annual revenue (structure involves issuing up to 31 million shares with performance-based vesting). The final deal is pending due diligence and board approval.
- **Funding:** Raised capital through private placements, convertible notes, and related party loans. Additional financing efforts are ongoing with a focus on future acquisitions and operational needs.
- **Working Capital & Liquidity:** 
  - Cash on hand as of December 31, 2024: **$413**.
  - Working capital deficit as of December 31, 2024: **$2,334,745**.
  - Limited access to capital and ongoing efforts to secure new funding; substantial doubt exists about the company's ability to continue as a going concern.

### Summary
Farmhouse, Inc. is a nascent company primarily engaged in strategic acquisitions within the casual food and beverage industry, with an initial focus on licensed NFTs related to cannabis and hemp. The company has minimal current revenue, consistent net losses, and limited liquidity, reliant on private financing and potential future acquisitions to sustain and grow its operations.

Farmhouse, Inc. is a holding company focused on the legal cannabis industry, connecting professionals and brands through technology and trusted branding.

### Company Overview: Farmhouse, Inc.

**Corporate History:**
- Farmhouse, Inc. was established in June 2013 and has undergone several name and domicile changes before settling in Nevada and adopting its current name in June 2019.
- Acquired a subsidiary, Farmhouse, Inc. (Washington), in August 2019.

**Business Model:**
- Farmhouse operates as a holding company with a focus on the legal cannabis industry.
- The company connects cannabis professionals and brands through various divisions, primarily leveraging technology and trusted branding.

**Divisions:**
1. **@420 Brand:**
   - A consumer-facing brand with a social media presence, primarily on Twitter, boasting over **100,000 followers**.
   - Engages in advocacy and marketing within the cannabis community.

2. **WeedClub® Platform:**
   - A social networking platform designed for cannabis professionals, with over **5,000 active members**.
   - Facilitates connections and exchanges within the cannabis industry.

3. **Web3 Division (Farmhouse Vault):**
   - Launched in December 2021, focuses on connecting cannabis companies with licensing opportunities in digital collectibles.
   - The division has formed partnerships with notable NFT brands such as Bored Ape Yacht Club and CryptoPunks.

**Current Customer Base:**
- Over **110,000 cannabis industry participants** in its network, including extensive followers across social media and registered users for live events.

**Employee Structure:**
- As of July 10, 2024, the company has **three full-time employees** and engages independent contractors as needed.

**Financial Performance:**
- Revenue for the year ended December 31, 2023, totaled **$15,227**, an increase from **$10,261** in 2022.
  - Revenue streams include:
    - **Subscription Fees:** No revenue recorded in 2023 (prior year: $149).
    - **License Revenues:** **$15,227** in 2023 (up from **$10,112** in 2022).
- Costs associated with revenues from licensing in 2023 were **$6,930**, compared to **$3,806** in 2022.
- The company reported a **net loss** of **$560,789** for 2023, compared with a loss of **$442,782** in 2022.
- Accumulated deficit as of the end of 2023 amounts to **$6,305,488**.

**Challenges:**
- The company is categorized as an "emerging growth company," which significantly affects its financial disclosures and requirements.
- As indicated in management's discussion and analysis, there are ongoing concerns regarding its ability to continue as a going concern due to historical losses and reliance on external financing.

### Key Statistics:
- **Revenue (2023):** $15,227
- **Net Loss (2023):** $560,789
- **Accumulated Deficit:** $6,305,488
- **Active Members in WeedClub:** 5,000+
- **Customer Network:** 110,000+
- **Employees:** 3 full-time employees

Farmhouse continues to adapt to the evolving cannabis market while striving to build valuable connections and expand its reach in the technology-driven cannabis industry.

FARMHOUSE, INC. /NV

10-K / June 23, 2025

10-K / July 11, 2024

10-K / June 23, 2025

Company Summary: Farmhouse, Inc.

Business Focus

Operations and Properties

Revenue and Financials

Market and Shareholder Data

Notable Recent Activities

Summary