Proficient Auto Logistics, Inc
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
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FY2024 · Filed Mar 31, 2025
PAL$3.38+11.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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CONSOLIDATED BALANCE SHEETS
| Successor | Predecessor | |
|---|---|---|
| December 31, 2024 | December 31, 2023 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $15,398,714 | $4,273 |
| Accounts receivable, less allowance for credit losses (2024 - $134,372; 2023 - $634,913) | 37,394,656 | 19,799,044 |
| Net investment in leases, current portion | 266,447 | 32,374 |
| Maintenance supplies | 1,356,814 | 822,855 |
| Assets held for sale | 265,900 | — |
| Income tax receivable | 2,944,742 | — |
| Prepaid expenses and other current assets | 10,060,169 | 2,769,005 |
| Total current assets | 67,687,442 | 23,427,551 |
| Property and equipment, net of accumulated depreciation (2024 - $15,541,572; 2023 - $16,211,133) | 122,636,636 | 17,998,750 |
| Operating lease right-of-use assets | 10,970,536 | 4,457 |
| Net investment in leases, less current portion | 175,330 | 2,681 |
| Deposits | 4,676,679 | 1,033,642 |
| Goodwill | 169,056,675 | — |
| Intangible assets, net of accumulated amortization (2024 - $5,709,360; 2023 - $0) | 132,490,640 | — |
| Other long-term assets | 393,006 | 527,952 |
| Total assets | $508,086,944 | $42,995,033 |
| Liabilities, mezzanine equity, and stockholders’ equity | ||
| Current liabilities: | ||
| Accounts payable | $9,829,355 | $2,539,198 |
| Book overdraft | — | 891,410 |
| Accrued liabilities | 21,826,519 | 7,803,359 |
| Income tax payable | — | 1,174,959 |
| Finance lease liabilities, current portion | 89,184 | 1,306,024 |
| Operating lease liabilities, current portion | 1,825,970 | 4,456 |
| Long-term debt, current portion | 19,052,903 | 1,599,699 |
| Total current liabilities | 52,623,931 | 15,319,105 |
| Long-term liabilities: | ||
| Line of credit | 7,000,000 | 3,450,129 |
| Finance lease liabilities, less current portion | 8,343 | 273,096 |
| Operating lease liabilities, less current portion | 9,258,234 | — |
| Long-term debt, less current portion | 56,336,911 | 5,035,478 |
| Deferred tax liability, net | 42,638,079 | 2,283,833 |
| Other long-term liabilities | 2,241,923 | — |
| Total liabilities | 170,107,421 | 26,361,641 |
| Commitments and contingencies (Note 18) | ||
| Mezzanine equity: | ||
| Series A convertible, redeemable, preferred stock, $0.01 par value; 10,000,000 shares authorized; 0 and 3,066,923 shares issued and outstanding as of December 31, 2024 and December 31, 2023 respectively | — | 8,880,672 |
| Stockholders’ equity: | ||
| Common stock, $0.01 par value; 50,000,000 shares authorized; 27,069,114 and 0 shares issued and outstanding as of December 31, 2024 and December 31, 2023 respectively | 270,691 | — |
| Common stock, $0.01 par value; 10,000,000 shares authorized; 392,825 shares issued and outstanding | — | 3,928 |
| Additional paid in capital | 346,756,929 | — |
| (Accumulated deficit) retained earnings | (9,048,097) | 7,748,792 |
| Total stockholders’ equity | 337,979,523 | 7,752,720 |
| Total liabilities, mezzanine equity and stockholders’ equity | $508,086,944 | $42,995,033 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.