SEC Company Response from FARMHOUSE, (FMHS) — Jun 30, 2022
FARMHOUSE, INC. /NV
Date: June 30, 2022 · CIK: 0001811999 · Accession: 0001551163-22-000036
AI Filing Summary & Sentiment
File numbers found in text: 000-56334
Referenced dates: May 23, 2022
Letter
Division of Corporate Finance Office of Technology United States Securities and Exchange Commission Form 10-K for fiscal year ended December 31, 2021 filed April 22, 2022 File No. 000-56334
Re: Farmhouse, Inc. File No. 000-56334
Dear sir or madam:
We are in receipt of your letter dated May 23, 2022 regarding the above referenced filing. The Company’s responses to your questions are as follows:
Form 10-K for Fiscal Year Ended December 31, 2021
Management's Discussion and Analysis of Financial Condition and Results of Operations Results of Operations, page 23
1.We note on page 23 you appear to be disclosing a Non-GAAP measure in which Net Loss is adjusted for impairment of intangible assets and stock based fees. Please designate the measure as Non-GAAP and provide a name, such as "Adjusted Net Loss," to appropriately reflect what it represents. Additionally, expand your disclosure to explain how management uses this measure and why you believe it provides useful information to investors regarding your performance pursuant to Item 10(e)(1)(i)(C) and (D) of Regulation S-K.
Company response
We have reviewed the above referenced page 23 and have prepared the attached amendment for Staff review. The amendment revises Item 7 – Management’s Discussion and Analysis of Financial Condition and Results of Operations to properly caption “Adjusted Net Loss,” to designate Adjusted Net Loss as “Non-GAAP,” and to expand our disclosure to explain how management uses this measure and why we believe it provides useful information to investors regarding our performance. We understand and agree to comply in all future filings and disclosures with the above referenced Item 10 of Regulation S-K and disclose the attached amendment or other additional information where necessary to fully apprise the public of all Non-GAAP information.
The foregoing information is deemed to be Company’s complete response to your inquiries of May 23, 2022. In the event you require additional information or have additional questions, please do not hesitate to contact the undersigned.
Farmhouse, Inc.548 Market Street, Suite 90355888-420-6856
San Francisco, CA 94103
Division of Corporate Finance
United States Securities and Exchange Commission
June 30, 2022
Page 2
Sincerely,
/s/ Lanny R. Lang
Show Raw Text
CORRESP 1 filename1.htm June 30, 2022 Division of Corporate Finance Office of Technology United States Securities and Exchange Commission Re: Farmhouse, Inc. File No. 000-56334 Form 10-K for fiscal year ended December 31, 2021 filed April 22, 2022 File No. 000-56334 Dear sir or madam: We are in receipt of your letter dated May 23, 2022 regarding the above referenced filing. The Company’s responses to your questions are as follows: Form 10-K for Fiscal Year Ended December 31, 2021 Management's Discussion and Analysis of Financial Condition and Results of Operations Results of Operations, page 23 1.We note on page 23 you appear to be disclosing a Non-GAAP measure in which Net Loss is adjusted for impairment of intangible assets and stock based fees. Please designate the measure as Non-GAAP and provide a name, such as "Adjusted Net Loss," to appropriately reflect what it represents. Additionally, expand your disclosure to explain how management uses this measure and why you believe it provides useful information to investors regarding your performance pursuant to Item 10(e)(1)(i)(C) and (D) of Regulation S-K. Company response We have reviewed the above referenced page 23 and have prepared the attached amendment for Staff review. The amendment revises Item 7 – Management’s Discussion and Analysis of Financial Condition and Results of Operations to properly caption “Adjusted Net Loss,” to designate Adjusted Net Loss as “Non-GAAP,” and to expand our disclosure to explain how management uses this measure and why we believe it provides useful information to investors regarding our performance. We understand and agree to comply in all future filings and disclosures with the above referenced Item 10 of Regulation S-K and disclose the attached amendment or other additional information where necessary to fully apprise the public of all Non-GAAP information. The foregoing information is deemed to be Company’s complete response to your inquiries of May 23, 2022. In the event you require additional information or have additional questions, please do not hesitate to contact the undersigned. Farmhouse, Inc.548 Market Street, Suite 90355888-420-6856 San Francisco, CA 94103 Division of Corporate Finance United States Securities and Exchange Commission June 30, 2022 Page 2 Sincerely, /s/ Lanny R. Lang Lanny R. Lang Chief Financial Officer, Chief Accounting Officer (Principal Financial and Accounting Officer)