Digital Brands Group Inc

For the period ended Dec 31, 2023. Filed Apr 15, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Apr 15, 2024

DBGI$0.19-31.9%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

CONSOLIDATED BALANCE SHEETS


· · December 31,
	2023		2022
ASSETS
Current assets: · ·
Cash and cash equivalents		$20,773		$1,275,616
Accounts receivable, net of allowance for credit losses of $41,854 and $19,394, respectively		74,833		583,368
Due from factor, net		337,811		839,400
Inventory		4,849,600		5,122,564
Prepaid expenses and other current assets		276,670		766,901
Assets per discontinued operations, current		—		241,544
Total current assets		5,559,687		8,829,393
Property, equipment and software, net		55,509		104,512
Goodwill		8,973,501		8,973,501
Intangible assets, net		9,982,217		12,906,238
Deposits		75,431		193,926
Right of use asset		689,688		102,349
Assets per discontinued operations		—		2,628,136
Total assets		$25,336,033		$33,738,055

LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Current liabilities:
Accounts payable		$7,538,902		$8,016,173
Accrued expenses and other liabilities		4,758,492		3,936,920
Due to related parties		400,012		555,217
Contingent consideration liability		—		12,098,475
Convertible note payable, net		100,000		2,721,800
Accrued interest payable		1,996,753		1,561,795
Loan payable, current		2,325,842		1,829,629
Promissory note payable, net		4,884,592		9,000,000
Operating lease liability		1,210,814		102,349
Liabilities per discontinued operations, current		—		1,071,433
Total current liabilities		23,215,407		40,893,791
Loan payable		150,000		150,000
Deferred tax liability		368,034		—
Liabilities per discontinued operations		—		147,438
Total liabilities		23,733,441		41,191,229

Commitments and contingencies

Stockholders’ equity (deficit):
Undesignated preferred stock, $0.0001 par, 10,000,000 shares authorized, 0 shares issued and outstanding as of both December 31, 2023 and 2022, respectively		—		—
Series A convertible preferred stock, $0.0001 par, 6,300 shares designated, 6,300 shares issued and outstanding as of both December 31, 2023 and 2022, respectively		1		1
Series C convertible preferred stock, $0.0001 par, 4,786 and 0 shares outstanding as of December 31, 2023 and 2022, respectively		1		—
Common stock, $0.0001 par, 1,000,000,000 shares authorized, 1,114,359 and 178,758 shares issued and outstanding as of December 31, 2023 and 2022, respectively		110		18
Additional paid-in capital		115,596,929		96,294,123
Accumulated deficit		(113,994,449)		(103,747,316)
Total stockholders’ equity (deficit)		1,602,592		(7,453,174)
Total liabilities and stockholders’ equity (deficit)		$25,336,033		$33,738,055

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.