INNOVATIVE FOOD HOLDINGS INC
For the period ended Jun 30, 2024. Filed Aug 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.
Jun 30, 2024 · Filed Aug 14, 2024
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Consolidated Statements of Operations
| For the Three | For the Three | For the Six | For the Six | |
|---|---|---|---|---|
| Months Ended | Months Ended | Months Ended | Months Ended | |
| June 30, | June 30, | June 30, | June 30, | |
| 2024 | 2023 | 2024 | 2023 | |
| Revenue | $16,658,990 | $18,521,091 | $32,389,103 | $35,195,850 |
| Cost of goods sold | 12,691,567 | 14,034,137 | 24,587,366 | 26,934,746 |
| Gross margin | 3,967,423 | 4,486,954 | 7,801,737 | 8,261,104 |
| Selling, general and administrative expenses | 3,862,794 | 4,180,620 | 7,876,221 | 8,625,014 |
| Separation costs - executive officers | - | - | - | 1,945,650 |
| Total operating expenses | 3,862,794 | 4,180,620 | 7,876,221 | 10,570,664 |
| Operating income (loss) | 104,629 | 306,334 | (74,484) | (2,309,560) |
| Other income (expense:) | ||||
| Interest expense, net | (209,487) | (209,640) | (424,937) | (382,361) |
| Gain on sale of assets | - | - | 1,807,516 | - |
| Gain on sale of subsidiary | - | - | 21,126 | - |
| Other leasing income | 1,900 | 1,900 | 3,800 | 3,800 |
| Total other income (expense) | (207,587) | (207,740) | 1,407,505 | (378,561) |
| Net income (loss) before taxes | (102,958) | 98,594 | 1,333,021 | (2,688,121) |
| Income tax expense | - | 15,834 | - | 15,834 |
| Net income (loss) from continuing operations | $(102,958) | $82,760 | $1,333,021 | $(2,703,955) |
| Net (loss) from discontinued operations | (366) | $(69,289) | $(10,471) | $(111,340) |
| Consolidated net income (loss) | $(103,324) | $13,471 | $1,322,550 | $(2,815,295) |
| Net income (loss) per share from continuing operations - basic | $(0.00) | $0.00 | $0.03 | $(0.06) |
| Net income (loss) per share from continuing operations - diluted | $(0.00) | $0.00 | $0.03 | $(0.06) |
| Net (loss) per share from discontinued operations - basic | $(0.00) | $(0.00) | $(0.00) | $(0.00) |
| Net (loss) per share from discontinued operations - diluted | $(0.00) | $(0.00) | $(0.00) | $(0.00) |
| Weighted average shares outstanding - basic | 49,702,026 | 49,064,084 | 49,708,112 | 48,764,822 |
| Weighted average shares outstanding - diluted | 49,702,026 | 49,064,084 | 51,123,656 | 48,764,822 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.