$FMHS
FARMHOUSE, INC. /NV

2024 Q2 Form 10-Q Financial Statement

#000109690624001727 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q2
Revenue $1.893K
YoY Change -54.21%
Cost Of Revenue $744.00
YoY Change -63.99%
Gross Profit $1.149K
YoY Change -44.44%
Gross Profit Margin 60.7%
Selling, General & Admin $126.8K
YoY Change -11.13%
% of Gross Profit 11036.55%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $126.8K
YoY Change -11.13%
Operating Profit -$125.7K
YoY Change -10.64%
Interest Expense $13.46K
YoY Change 8.1%
% of Operating Profit
Other Income/Expense, Net -$13.46K
YoY Change 8.1%
Pretax Income -$139.1K
YoY Change -9.12%
Income Tax
% Of Pretax Income
Net Earnings -$139.1K
YoY Change -9.12%
Net Earnings / Revenue -7349.13%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.01
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.020K
YoY Change -74.14%
Cash & Equivalents $2.018K
Short-Term Investments
Other Short-Term Assets $4.200K
YoY Change 5.26%
Inventory
Prepaid Expenses $4.200K
Receivables $1.610K
Other Receivables $0.00
Total Short-Term Assets $7.828K
YoY Change -53.97%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $7.828K
Total Long-Term Assets $0.00
Total Assets $7.828K
YoY Change -53.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $63.72K
YoY Change 149.78%
Accrued Expenses $228.8K
YoY Change 27.08%
Deferred Revenue
YoY Change
Short-Term Debt $105.0K
YoY Change 10.53%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.147M
YoY Change 20.33%
LONG-TERM LIABILITIES
Long-Term Debt $34.00K
YoY Change 36.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $34.00K
YoY Change 36.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.147M
Total Long-Term Liabilities $34.00K
Total Liabilities $2.181M
YoY Change 20.55%
SHAREHOLDERS EQUITY
Retained Earnings -$6.561M
YoY Change 8.1%
Common Stock $1.773K
YoY Change 3.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.173M
YoY Change
Total Liabilities & Shareholders Equity $7.828K
YoY Change -53.97%

Cashflow Statement

Concept 2024 Q2
OPERATING ACTIVITIES
Net Income -$139.1K
YoY Change -9.12%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$49.14K
YoY Change 125.21%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 50.72K
YoY Change 141.98%
NET CHANGE
Cash From Operating Activities -49.14K
Cash From Investing Activities
Cash From Financing Activities 50.72K
Net Change In Cash 1.580K
YoY Change -283.72%
FREE CASH FLOW
Cash From Operating Activities -$49.14K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Registrant Name
EntityRegistrantName
FARMHOUSE, INC. /NV
dei Amendment Flag
AmendmentFlag
false
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001811999
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2024-06-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
dei Entity File Number
EntityFileNumber
333-238326
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
46-3321759
dei Entity Address Address Line1
EntityAddressAddressLine1
548 Market Street
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 90355
dei Entity Address City Or Town
EntityAddressCityOrTown
San Francisco
dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
94104
dei City Area Code
CityAreaCode
888
dei Local Phone Number
LocalPhoneNumber
420-6856
dei Phone Fax Number Description
PhoneFaxNumberDescription
Registrant’s telephone number
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Shell Company
EntityShellCompany
false
CY2024Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
17915950 shares
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2018 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
0 usd
CY2024Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1610 usd
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
4170 usd
CY2024Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
4200 usd
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
3990 usd
CY2024Q2 us-gaap Assets Current
AssetsCurrent
7828 usd
CY2023Q4 us-gaap Assets Current
AssetsCurrent
8160 usd
CY2024Q2 us-gaap Assets
Assets
7828 usd
CY2023Q4 us-gaap Assets
Assets
8160 usd
CY2024Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
63723 usd
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
45435 usd
CY2024Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
406459 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
387501 usd
CY2024Q2 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
1221824 usd
CY2023Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
1129752 usd
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
228805 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
204050 usd
CY2024Q2 us-gaap Interest Payable Current
InterestPayableCurrent
69345 usd
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
61745 usd
CY2024Q2 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
45000 usd
CY2023Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
45000 usd
CY2024Q2 us-gaap Notes Payable Current
NotesPayableCurrent
60000 usd
CY2023Q4 us-gaap Notes Payable Current
NotesPayableCurrent
50000 usd
CY2024Q2 fil Due To Related Parties1
DueToRelatedParties1
51353 usd
CY2023Q4 fil Due To Related Parties1
DueToRelatedParties1
28958 usd
CY2024Q2 us-gaap Liabilities Current
LiabilitiesCurrent
2146509 usd
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
1952441 usd
CY2024Q2 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
34000 usd
CY2023Q4 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
34000 usd
CY2024Q2 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
34000 usd
CY2023Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
34000 usd
CY2024Q2 us-gaap Liabilities
Liabilities
2180509 usd
CY2023Q4 us-gaap Liabilities
Liabilities
1986441 usd
CY2024Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2024Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2024Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2024Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 usd
CY2023Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 usd
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
295000000 shares
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
295000000 shares
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
17728450 shares
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
17728450 shares
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
17325950 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
17325950 shares
CY2024Q2 us-gaap Common Stock Value
CommonStockValue
1773 usd
CY2023Q4 us-gaap Common Stock Value
CommonStockValue
1733 usd
CY2024Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
4386224 usd
CY2023Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
4325474 usd
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-6560678 usd
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-6305488 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
-2172681 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
-1978281 usd
CY2024Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
7828 usd
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
8160 usd
CY2024Q2 us-gaap Revenues
Revenues
1893 usd
CY2023Q2 us-gaap Revenues
Revenues
4134 usd
us-gaap Revenues
Revenues
4154 usd
us-gaap Revenues
Revenues
5203 usd
CY2024Q2 us-gaap Cost Of Revenue
CostOfRevenue
744 usd
CY2023Q2 us-gaap Cost Of Revenue
CostOfRevenue
2066 usd
us-gaap Cost Of Revenue
CostOfRevenue
1874 usd
us-gaap Cost Of Revenue
CostOfRevenue
2601 usd
CY2024Q2 us-gaap Gross Profit
GrossProfit
1149 usd
CY2023Q2 us-gaap Gross Profit
GrossProfit
2068 usd
us-gaap Gross Profit
GrossProfit
2280 usd
us-gaap Gross Profit
GrossProfit
2602 usd
CY2024Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
77689 usd
CY2023Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
84668 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
151870 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
169347 usd
CY2024Q2 us-gaap Professional Fees
ProfessionalFees
49119 usd
CY2023Q2 us-gaap Professional Fees
ProfessionalFees
58025 usd
us-gaap Professional Fees
ProfessionalFees
79042 usd
us-gaap Professional Fees
ProfessionalFees
132675 usd
CY2024Q2 us-gaap Operating Expenses
OperatingExpenses
126808 usd
CY2023Q2 us-gaap Operating Expenses
OperatingExpenses
142693 usd
us-gaap Operating Expenses
OperatingExpenses
230912 usd
us-gaap Operating Expenses
OperatingExpenses
302022 usd
CY2024Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-125659 usd
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-140625 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-228632 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-299420 usd
CY2024Q2 us-gaap Interest Expense
InterestExpense
13460 usd
CY2023Q2 us-gaap Interest Expense
InterestExpense
12452 usd
us-gaap Interest Expense
InterestExpense
26558 usd
us-gaap Interest Expense
InterestExpense
24972 usd
CY2024Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-13460 usd
CY2023Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-12452 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-26558 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-24972 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-139119 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-153077 usd
us-gaap Net Income Loss
NetIncomeLoss
-255190 usd
us-gaap Net Income Loss
NetIncomeLoss
-324392 usd
CY2024Q2 fil Basic And Diluted Net Loss Per Share
BasicAndDilutedNetLossPerShare
-0.01
CY2023Q2 fil Basic And Diluted Net Loss Per Share
BasicAndDilutedNetLossPerShare
-0.01
fil Basic And Diluted Net Loss Per Share
BasicAndDilutedNetLossPerShare
-0.01
fil Basic And Diluted Net Loss Per Share
BasicAndDilutedNetLossPerShare
-0.02
CY2024Q2 fil Basic And Diluted Weighted Average Number Of Shares Outstanding
BasicAndDilutedWeightedAverageNumberOfSharesOutstanding
17408148 shares
CY2023Q2 fil Basic And Diluted Weighted Average Number Of Shares Outstanding
BasicAndDilutedWeightedAverageNumberOfSharesOutstanding
17075950 shares
fil Basic And Diluted Weighted Average Number Of Shares Outstanding
BasicAndDilutedWeightedAverageNumberOfSharesOutstanding
17339743 shares
fil Basic And Diluted Weighted Average Number Of Shares Outstanding
BasicAndDilutedWeightedAverageNumberOfSharesOutstanding
17075950 shares
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
-1978281 usd
CY2024Q1 fil Stock Based Compensation On Rsa S Vested
StockBasedCompensationOnRsaSVested
15875 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-116071 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
-2078477 usd
CY2024Q2 fil Common Stock Sold For Cash
CommonStockSoldForCash
25000 usd
CY2024Q2 fil Common Stock Issued For Restricted Stock Awards
CommonStockIssuedForRestrictedStockAwards
0 usd
CY2024Q2 fil Stock Based Compensation On Rsa S Vested
StockBasedCompensationOnRsaSVested
19915 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-139119 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
-2172681 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-1583916 usd
CY2023Q1 fil Stock Based Compensation On Rsa S Vested
StockBasedCompensationOnRsaSVested
58259 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-171315 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
-1696972 usd
CY2023Q2 fil Stock Based Compensation On Rsa S Vested
StockBasedCompensationOnRsaSVested
58259 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-153077 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
-1791790 usd
us-gaap Net Income Loss
NetIncomeLoss
-255190 usd
us-gaap Net Income Loss
NetIncomeLoss
-324392 usd
fil Stock Based Compensation On Rsa S Vested
StockBasedCompensationOnRsaSVested
35790 usd
fil Stock Based Compensation On Rsa S Vested
StockBasedCompensationOnRsaSVested
116518 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-2560 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5203 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
210 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
180 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
17120 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
13283 usd
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
18958 usd
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
20198 usd
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
92072 usd
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
92072 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
24755 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
24000 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
7601 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
5709 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-56544 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-57995 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
25000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
10000 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
25000 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
23562 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
0 usd
fil Repayment Of Related Party Debt And Short Term Advances
RepaymentOfRelatedPartyDebtAndShortTermAdvances
0 usd
fil Repayment Of Related Party Debt And Short Term Advances
RepaymentOfRelatedPartyDebtAndShortTermAdvances
-21254 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
58562 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3746 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
2018 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-54249 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
0 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
62063 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2018 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7814 usd
fil Repayment Of Related Party Short Term Advances With Credit Card
RepaymentOfRelatedPartyShortTermAdvancesWithCreditCard
1167 usd
fil Repayment Of Related Party Short Term Advances With Credit Card
RepaymentOfRelatedPartyShortTermAdvancesWithCreditCard
1048 usd
us-gaap Interest Paid
InterestPaid
0 usd
us-gaap Interest Paid
InterestPaid
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Nature Of Operations
NatureOfOperations
<p style="font:11pt Times New Roman;margin:0"><b>NOTE 1 – ORGANIZATION AND OPERATIONS</b></p> <p style="font:11pt Times New Roman;margin:0"> </p> <p style="font:11pt Times New Roman;margin:0;text-indent:36pt"><b><i>Organization</i></b></p> <p style="font:11pt Times New Roman;margin:0"> </p> <p style="font:11pt Times New Roman;margin:0;background-color:#FFFFFF">The Company was incorporated in June 2013 as Somerset Transition Corporation under the Oklahoma General Corporation Act. In September 2013, the Company was redomesticated in Maryland and changed its name to Somerset Property, Inc. In July 2017, the Company was redomesticated in Nevada and changed its name to Revival, Inc. In June 2019, the Company changed its name to Farmhouse, Inc. to reflect its new business endeavors. </p> <p style="font:11pt Times New Roman;margin:0;background-color:#FFFFFF"> </p> <p style="font:11pt Times New Roman;margin:0;background-color:#FFFFFF">In August 2019, the Company acquired Farmhouse, Inc., a Washington corporation (“Farmhouse Washington”) as its wholly owned subsidiary (the “Acquisition”). The financial statements of the Company are the continuation of Farmhouse Washington with the adjustment to reflect the capital structure of the Company. The consolidated financial statements also includes Farmhouse DTLA, Inc., a wholly owned subsidiary of Farmhouse Washington (“DTLA”). DTLA is party to certain litigation. See Note 9.</p> <p style="font:11pt Times New Roman;margin:0"> </p> <p style="font:11pt Times New Roman;margin:0;text-indent:36pt"><b><i>Current Operations</i></b></p> <p style="font:11pt Times New Roman;margin:0"> </p> <p style="font:11pt Times New Roman;margin:0;background-color:#FFFFFF">The Company is a technology company with multiple cannabis related divisions and IP, including the WeedClub® Platform, the @420 Twitter handle and a Web3 division. The WeedClub® Platform is a cannabis social network platform that enables industry professionals to connect, discover products and services and scale their businesses. Within the WeedClub® Platform, members utilize an increasing set of technology-based tools for discovering professional connections and information. The Company’s @420 Twitter handle serves as a public platform to engage with cannabis enthusiasts. The Company’s Web3 division, launched in December 2021, facilitates licensing opportunities between established cannabis brands and influential digital collectible holders to launch digital collectible branded products and accessories.</p> <p style="font:11pt Times New Roman;margin:0;background-color:#FFFFFF"> </p> <p style="font:11pt Times New Roman;margin:0;margin-left:36pt"><b><i>Memorandum of Understanding</i></b></p> <p style="font:11pt Times New Roman;margin:0"> </p> <p style="font:11pt Times New Roman;margin:0">On May 17, 2024, the Company executed a non-binding Memorandum of Understanding (“MOU”) which establishes the framework for a proposed acquisition of all membership interests of Thrown, LLC (“Thrown”). Thrown, operating under the brand Nappy Boy Dranks, is a joint venture beverage firm led by T-Pain, the Grammy Award-winning artist, professional gamer, and entrepreneur (“T-Pain”). Thrown’s premier product, T-Pain’s GamerShot, is a zero-crash, focus-enhancing functional esports beverage, featuring a proprietary Nootropic Energy Blend and conveniently packaged in 2-ounce servings. </p> <p style="font:11pt Times New Roman;margin:0"> </p> <p style="font:11pt Times New Roman;margin:0">The MOU provides for consideration to Thrown of a) equity deposit of $75,000 in Company shares, subject to lockup and specific return conditions, b) cash compensation contingent on the Company raising $5-$10 million in equity financing, c) equity compensation involving issuance of 5,130,000 shares to Thrown, d) expense reimbursement up to $100,000 for organizational and operating expenses, e) license payment of $50,000 to Nappy Boy Dranks, LLC, and f) additional shares based on sales milestones to be negotiated.</p> <p style="font:11pt Times New Roman;margin:0"> </p> <p style="font:11pt Times New Roman;margin:0">While the MOU outlines the parties’ intent to negotiate in good faith a definitive agreement while highlighting certain binding terms regarding exclusivity and confidentiality, it does not guarantee that the transaction will be completed. The parties are committed to negotiating in good faith and working towards a definitive agreement, but there are many variables and conditions that must be met for the transaction to close successfully. Therefore, there is no assurance that the MOU will result in a final agreement or that the transaction will be consummated.</p> <p style="font:11pt Times New Roman;margin:0"> </p> <p style="font:11pt Times New Roman;margin:0">Subsequent to June 30, 2024, the parties agreed to a price per share of the Company’s stock of $0.40 and the Company issued 187,500 shares of common stock to Thrown as the equity deposit of $75,000 as provided in the MOU. The fair market value of the stock on July 6, 2024 was $0.1396 or $26,175. See Note 12.</p> <p style="font:11pt Times New Roman;margin:0"> </p> <p style="font:11pt Times New Roman;margin:0;text-indent:36pt"><b><i>Going Concern and Management’s Plans</i></b></p> <p style="font:11pt Times New Roman;margin:0"> </p> <p style="font:11pt Times New Roman;margin:0">The accompanying unaudited interim condensed consolidated financial statements have been presented on the basis that the Company is a going concern which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. For the six months ended June 30, 2024, the Company had a net loss from operations of $255,190 and as of June 30, 2024, the Company had stockholders’ deficit of $2,172,681. In view of these matters, the recoverability of any asset amounts shown in the accompanying unaudited interim condensed consolidated financial statements is dependent upon the Company’s ability to expand operations and achieve profitability from its business. These factors raise substantial doubt about the Company’s ability to continue as a going concern. These unaudited interim condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.</p> <p style="font:11pt Times New Roman;margin:0"> </p> <p style="font:11pt Times New Roman;margin:0;background-color:#FFFFFF">The Company has financed its activities principally from the sale of its common stock, loans and advances from Company officers, and loans from third parties. The Company intends to finance its future working capital needs from these sources until such time that funds provided by operations are sufficient to fund working capital requirements. Management believes that loans and advances from Company officers, funds raised from the sale of its common stock, and funds raised from loans with third parties allow the Company sufficient capital for operations and to continue as a going concern.</p>
us-gaap Net Income Loss
NetIncomeLoss
-255190 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
-2172681 usd
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font:11pt Times New Roman;margin:0;text-indent:36pt"><b><i>Financial Statement Reclassification</i></b></p> <p style="font:11pt Times New Roman;margin:0"> </p> <p style="font:11pt Times New Roman;margin:0">Certain amounts from the prior year’s financial statements have been reclassified in these unaudited interim condensed consolidated financial statements to conform to the current year’s classifications.</p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="font:11pt Times New Roman;margin:0;text-indent:36pt"><b><i>Use of Estimates</i></b></p> <p style="font:11pt Times New Roman;margin:0"> </p> <p style="font:11pt Times New Roman;margin:0">Operating results for interim periods are not necessarily indicative of the results to be expected for the full year. 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, revenues, expenses, and the related disclosures at the date of the financial statements and during the reporting period. Significant estimates include convertible debt, deferred tax assets and any related valuation allowance and related disclosure of contingent assets and liabilities. The Company evaluates its estimates based on historical experience and on various other assumptions that it believes to be reasonable under the circumstances. Actual results could materially differ from these estimates.</p>
CY2023Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
45000 usd
fil Equity Financing Description
EquityFinancingDescription
The note and any unpaid accrued interest automatically converts in whole upon a qualified financing which is defined as an equity financing resulting in gross proceeds to the Company of at least $750,000 (including the conversion of the Notes and other debt). The conversion price would be equal to 100% of the per share price paid in the qualified financing, provided that: if the Company valuation associated with the Qualified Financing is less than $15,000,000, the valuation associated with the conversation shall be $15,000,000; and, if the Company valuation associated with the Qualified Financing is greater than $30,000,000, the Company valuation associated with the conversion shall be $30,000,000.
CY2024Q2 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
34000 usd
CY2024Q2 fil Due To Related Parties1
DueToRelatedParties1
51353 usd
CY2023Q4 fil Due To Related Parties1
DueToRelatedParties1
28958 usd
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
295000000 shares
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
295000000 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
270000 shares
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
0.128
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Number Of Shares Period Increase Decrease
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNumberOfSharesPeriodIncreaseDecrease
-340000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.084
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
255000 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
0.14
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
355000 shares
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
0.077
fil Stock Based Compensation On Rsa S Vested
StockBasedCompensationOnRsaSVested
35790 usd
fil Stock Based Compensation On Rsa S Vested
StockBasedCompensationOnRsaSVested
116518 usd
CY2024Q2 fil Stock Based Compensation On Rsa S Vested
StockBasedCompensationOnRsaSVested
19915 usd
CY2023Q2 fil Stock Based Compensation On Rsa S Vested
StockBasedCompensationOnRsaSVested
58259 usd
CY2024Q2 fil Unrecognized Stock Based Compensation Expense
UnrecognizedStockBasedCompensationExpense
27270 usd
CY2024Q2 fil Unrecognized Stock Based Compensation Expense
UnrecognizedStockBasedCompensationExpense
27270 usd
CY2024Q2 fil Due To Related Parties1
DueToRelatedParties1
51353 usd
CY2023Q4 fil Due To Related Parties1
DueToRelatedParties1
28958 usd
fil Company Officers Ownership Percentage
CompanyOfficersOwnershipPercentage
0.435 pure

Files In Submission

Name View Source Status
0001096906-24-001727-index-headers.html Edgar Link pending
0001096906-24-001727-index.html Edgar Link pending
0001096906-24-001727.txt Edgar Link pending
0001096906-24-001727-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
fmhs-20240630.htm Edgar Link pending
fmhs-20240630.xsd Edgar Link pending
fmhs_ex31z1.htm Edgar Link pending
fmhs_ex31z2.htm Edgar Link pending
fmhs_ex32z1.htm Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
fmhs-20240630_cal.xml Edgar Link unprocessable
fmhs-20240630_def.xml Edgar Link unprocessable
fmhs-20240630_lab.xml Edgar Link unprocessable
fmhs-20240630_pre.xml Edgar Link unprocessable
fmhs-20240630_htm.xml Edgar Link completed
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
FilingSummary.xml Edgar Link unprocessable