INNOVATIVE FOOD HOLDINGS INC
For the period ended Mar 31, 2024. Filed May 14, 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 14, 2024
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Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
(unaudited)
| For the Three | For the Three | |
|---|---|---|
| Months Ended | Months Ended | |
| March 31, | March 31, | |
| 2024 | 2023 | |
| (unaudited) | (unaudited) | |
| Revenue | 15,730,113 | 16,674,759 |
| Cost of goods sold | 11,895,799 | 12,900,609 |
| Gross margin | 3,834,314 | 3,774,150 |
| Selling, general and administrative expenses | 4,013,427 | 4,444,394 |
| Separation costs - executive officers | - | 1,945,650 |
| Total operating expenses | 4,013,427 | 6,390,044 |
| Operating (loss) | (179,113) | (2,615,894) |
| Other income (expense): | ||
| Interest expense, net | (215,450) | (172,721) |
| Gain on sale of assets | 1,807,516 | - |
| Gain on sale of subsidiary | 21,126 | - |
| Other leasing income | 1,900 | 1,900 |
| Total other income (expense) | 1,615,092 | (170,821) |
| Net income (loss) before taxes | 1,435,979 | (2,786,715) |
| Income tax expense | - | - |
| Net income (loss) from continuing operations | $1,435,979 | $(2,786,715) |
| Net (loss) from discontinued operations | $(10,105) | $(42,051) |
| Consolidated net income (loss) | $1,425,874 | $(2,828,766) |
| Net income (loss) per share from continuing operations - basic | $0.029 | $(0.06) |
| Net income (loss) per share from continuing operations - diluted | $0.028 | $(0.06) |
| Net income (loss) per share from discontinued operations - basic | $(0.00) | $(0.00) |
| Net income (loss) per share from discontinued operations - diluted | $(0.00) | $(0.00) |
| Weighted average shares outstanding - basic | 49,707,036 | 48,462,234 |
| Weighted average shares outstanding - diluted | 50,603,891 | 48,462,234 |
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