KORU Medical Systems Inc
For the period ended Mar 31, 2024. Filed May 1, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 1, 2024
KRMD$3.09+2.0%Stored close · as of Nov 6, 2026
Contents
Balance Sheets as of March 31, 2024 (Unaudited) and December 31, 2023
BALANCE SHEETS
| March 31, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| ASSETS | ||
| CURRENT ASSETS | ||
| Cash and cash equivalents | $10,820,317 | $11,482,240 |
| Accounts receivable less allowance for doubtful accounts of $24,777 as of March 31, 2024 and $24,777 as of December 31, 2023 | 4,392,511 | 4,045,211 |
| Inventory | 3,147,312 | 3,481,301 |
| Other receivables | 288,714 | 28,889 |
| Prepaid expenses | 830,408 | 1,218,288 |
| TOTAL CURRENT ASSETS | 19,479,262 | 20,255,929 |
| Property and equipment, net | 3,755,530 | 3,837,657 |
| Intangible assets, net of accumulated amortization of $406,801 and $390,341 as of March 31, 2024 and December 31, 2023, respectively | 737,901 | 754,361 |
| Operating lease right-of-use assets | 3,428,885 | 3,514,055 |
| Deferred income tax assets, net of allowance for non-realization of deferred tax assets of $6,391,452 and $6,002,777 for March 31, 2024 and December 31, 2023, respectively | — | — |
| Other assets | 98,970 | 98,970 |
| TOTAL ASSETS | $27,500,548 | $28,460,972 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| CURRENT LIABILITIES | ||
| Accounts payable | $1,774,185 | $975,193 |
| Accrued expenses | 1,459,405 | 1,711,427 |
| Note payable | 159,031 | 314,344 |
| Other liabilities | 457,653 | 512,520 |
| Accrued payroll and related taxes | 519,441 | 462,941 |
| Financing lease liability – current | 111,103 | 109,540 |
| Operating lease liability – current | 372,109 | 368,313 |
| TOTAL CURRENT LIABILITIES | 4,852,927 | 4,454,278 |
| Financing lease liability, net of current portion | 288,253 | 316,623 |
| Operating lease liability, net of current portion | 3,241,837 | 3,336,300 |
| TOTAL LIABILITIES | 8,383,017 | 8,107,201 |
| STOCKHOLDERS’ EQUITY | ||
| Common stock, $0.01 par value, 75,000,000 shares authorized, 49,143,589 and 49,089,864 shares issued 45,723,087 and 45,669,362 shares outstanding as of March 31, 2024, and December 31, 2023, respectively | 491,436 | 490,899 |
| Additional paid-in capital | 47,717,888 | 47,018,707 |
| Treasury stock, 3,420,502 shares as of March 31, 2024 and December 31, 2023, at cost | (3,843,562) | (3,843,562) |
| Accumulated deficit | (25,248,231) | (23,312,273) |
| TOTAL STOCKHOLDERS’ EQUITY | 19,117,531 | 20,353,771 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $27,500,548 | $28,460,972 |
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