KORU Medical Systems Inc
For the period ended Dec 31, 2024. Filed Mar 12, 2025.
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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.
FY2024 · Filed Mar 12, 2025
KRMD$3.16-2.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Balance Sheets as of December 31, 2024 and 2023
BALANCE SHEETS
| December 31, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| ASSETS | ||
| CURRENT ASSETS | ||
| Cash and cash equivalents | $9,580,947 | $11,482,240 |
| Accounts receivable, net | 5,720,750 | 4,045,211 |
| Inventory | 2,803,669 | 3,481,301 |
| Other receivables | 277,193 | 28,889 |
| Prepaid expenses and other current assets | 749,851 | 1,218,288 |
| TOTAL CURRENT ASSETS | 19,132,410 | 20,255,929 |
| Property and equipment, net | 4,290,515 | 3,837,657 |
| Intangible assets, net of accumulated amortization of $458,538 and $390,341 at December 31, 2024 and December 31, 2023, respectively | 730,279 | 754,361 |
| Operating lease right-of-use assets | 2,966,341 | 3,514,055 |
| Other assets | 98,970 | 98,970 |
| TOTAL ASSETS | $27,218,515 | $28,460,972 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| CURRENT LIABILITIES | ||
| Accounts payable | $1,649,969 | $975,193 |
| Accrued expenses | 3,924,184 | 1,711,427 |
| Note payable | 271,152 | 314,344 |
| Other liabilities | 29,269 | 512,520 |
| Accrued payroll and related taxes | 811,401 | 462,941 |
| Finance lease liability – current | 115,587 | 109,540 |
| Operating lease liability – current | 400,258 | 368,313 |
| TOTAL CURRENT LIABILITIES | 7,201,820 | 4,454,278 |
| Finance lease liability, net current portion | 202,613 | 316,623 |
| Operating lease liability, net of current portion | 3,000,403 | 3,336,300 |
| TOTAL LIABILITIES | 10,404,836 | 8,107,201 |
| Commitments and contingencies (Refer to Note 8) | ||
| STOCKHOLDERS’ EQUITY | ||
| Common stock, $0.01 par value, 75,000,000 shares authorized, 49,377,617 and 49,089,864 shares issued; 45,957,115 and 45,669,362 shares outstanding at December 31, 2024, and December 31, 2023, respectively | 493,776 | 490,899 |
| Additional paid-in capital | 49,581,303 | 47,018,707 |
| Treasury stock, 3,438,526 and 3,420,502 shares at December 31, 2024 and December 31, 2023, respectively, at cost | (3,882,494) | (3,843,562) |
| Accumulated Deficit | (29,378,906) | (23,312,273) |
| TOTAL STOCKHOLDERS’ EQUITY | 16,813,679 | 20,353,771 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $27,218,515 | $28,460,972 |
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