KORU Medical Systems Inc
For the period ended Sep 30, 2024. Filed Nov 13, 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.
Sep 30, 2024 · Filed Nov 13, 2024
KRMD$3.09+2.0%Stored close · as of Nov 6, 2026
Contents
Balance Sheets as of September 30, 2024 (Unaudited) and December 31, 2023
BALANCE SHEETS
| September 30, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| (UNAUDITED) | ||
| ASSETS | ||
| CURRENT ASSETS | ||
| Cash and cash equivalents | $8,806,310 | $11,482,240 |
| Accounts receivable less allowance for credit losses of $0 as of September 30, 2024 and $24,777 as of December 31, 2023 | 5,164,700 | 4,045,211 |
| Inventory | 3,928,318 | 3,481,301 |
| Other receivables | 74,312 | 28,889 |
| Prepaid expenses | 955,213 | 1,218,288 |
| TOTAL CURRENT ASSETS | 18,928,853 | 20,255,929 |
| Property and equipment, net | 4,552,176 | 3,837,657 |
| Intangible assets, net of accumulated amortization of $441,186 and $390,341 as of September 30, 2024 and December 31, 2023, respectively | 746,302 | 754,361 |
| Operating lease right-of-use assets | 3,063,731 | 3,514,055 |
| Other assets | 98,970 | 98,970 |
| TOTAL ASSETS | $27,390,032 | $28,460,972 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| CURRENT LIABILITIES | ||
| Accounts payable | $1,670,300 | $975,193 |
| Accrued expenses | 2,792,967 | 1,711,427 |
| Note payable | 401,993 | 314,344 |
| Other liabilities | 181,745 | 512,520 |
| Accrued payroll and related taxes | 766,867 | 462,941 |
| Financing lease liability – current | 114,297 | 109,540 |
| Operating lease liability – current | 395,954 | 368,313 |
| TOTAL CURRENT LIABILITIES | 6,324,123 | 4,454,278 |
| Financing lease liability, net of current portion | 230,332 | 316,623 |
| Operating lease liability, net of current portion | 3,102,097 | 3,336,300 |
| TOTAL LIABILITIES | 9,656,552 | 8,107,201 |
| STOCKHOLDERS’ EQUITY | ||
| Common stock, $0.01 par value, 75,000,000 shares authorized, 49,275,830 and 49,059,583 shares issued 45,837,304 and 45,639,081 shares outstanding as of September 30, 2024, and December 31, 2023, respectively | 492,758 | 490,899 |
| Additional paid-in capital | 48,940,978 | 47,018,707 |
| Treasury stock, 3,438,526 and 3,420,502 shares as of September 30, 2024 and December 31, 2023, respectively, at cost | (3,882,493) | (3,843,562) |
| Accumulated deficit | (27,817,763) | (23,312,273) |
| TOTAL STOCKHOLDERS’ EQUITY | 17,733,480 | 20,353,771 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $27,390,032 | $28,460,972 |
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