FARMHOUSE OWNS 15.709 BITCOIN — TO BUY MORE IT REGISTERED 80.5 MILLION SHARES FOR ITS FUNDER TO RESELL, WITH 18.9 MILLION OUTSTANDING — ITS CEO SAYS IT IS BUILT “FOR THE DEBASEMENT ERA”

Farmhouse, Inc., an OTC-traded company in San Francisco, said on September 22 that it holds 15.709 bitcoin bought in 20 purchases at an average of about $64,508 each. That is about $1.01 million of cost. CEO Evan Horowitz: “The Farmhouse treasury strategy has moved from design to execution.” And: “We are building Farmhouse for the debasement era.”

The filings show how the next coins get paid for. In January, Farmhouse registered up to 80,500,000 shares for resale by GHS Investments, under a deal to sell GHS up to $20 million of stock over 24 months. GHS pays the lower of 95% of the lowest volume-weighted price or 100% of the lowest intraday price in a five-day window. On January 7 the company had 18,925,950 shares outstanding and the stock closed at $0.25. In May it took $2 million from Axiom Holdings Group on a note with $2,222,222 of principal and 15% interest, convertible into stock at 75% of the lowest volume-weighted price, inside a floor of $0.15 and a cap of $0.50.

Put those side by side. The registration covers more than four times the shares that existed in January, sold at a discount to one buyer. The note converts at a quarter off. The bitcoin is up about a third on cost. The share count is the part that can grow faster than the coins. A company built “for the debasement era” is watering down its own shares to get there. At the time of this writing, bitcoin was $86,572.