INNOVATIVE FOOD HOLDINGS INC
For the period ended Jun 30, 2024. Filed Aug 14, 2024.
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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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Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
| June 30, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| (unaudited) | ||
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $3,866,448 | $5,327,016 |
| Accounts receivable, net | 5,198,153 | 4,307,726 |
| Inventory, net | 2,762,071 | 2,973,134 |
| Other current assets | 299,424 | 287,528 |
| Assets held for sale | 5,941,933 | 649,884 |
| Current assets - discontinued operations | 20,284 | 95,861 |
| Total current assets | 18,088,313 | 13,641,149 |
| Property and equipment, net | 934,353 | 7,000,015 |
| Right of use assets, operating leases, net | 20,098 | 28,519 |
| Right of use assets, finance leases, net | 407,427 | 436,403 |
| Tradenames and other unamortizable intangible assets | 217,000 | 217,000 |
| Total assets | $19,667,191 | $21,323,086 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities | ||
| Accounts payable and accrued liabilities | $3,222,324 | $6,252,951 |
| Accrued separation costs, related parties, current portion | 342,666 | 463,911 |
| Accrued interest | 89,990 | 95,942 |
| Deferred revenue | 1,440,803 | 1,312,837 |
| Stock appreciation rights liability | 786,768 | 255,020 |
| Notes payable, net of discount - current portion | 122,717 | 121,041 |
| Lease liability - operating leases, current | 15,927 | 17,131 |
| Lease liability - finance leases, current | 154,392 | 115,738 |
| Current liabilities - discontinued operations | 2,522 | 6,422 |
| Total current liabilities | 6,178,109 | 8,640,993 |
| Note payable, net of discount | 8,459,439 | 8,855,000 |
| Accrued separation costs, related parties, non-current | 624,359 | 791,025 |
| Lease liability - operating leases, non-current | 4,171 | 11,388 |
| Lease liability - finance leases, non-current | 85,771 | 219,266 |
| Total liabilities | 15,351,849 | 18,517,672 |
| Commitments & Contingencies (see note 18) | ||
| Stockholders' equity | ||
| Common stock: $0.0001 par value; 500,000,000 shares authorized; 52,562,238 and 52,538,100 shares issued, and 49,717,941 and 49,714,929 shares outstanding at June 30, 2024 and December 31, 2023, respectively | 5,251 | 5,251 |
| Additional paid-in capital | 42,950,189 | 42,762,811 |
| Treasury stock: 2,644,297 and 2,623,171 shares outstanding at June 30, 2024 and December 31, 2023, respectively | (1,141,370) | (1,141,370) |
| Accumulated deficit | (37,498,728) | (38,821,278) |
| Total stockholders' equity | 4,315,342 | 2,805,414 |
| Total liabilities and stockholders' equity | $19,667,191 | $21,323,086 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.