INNOVATIVE FOOD HOLDINGS 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
IVFHStored price and day change unavailable
Contents
Consolidated Balance Sheets
| September 30, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| (unaudited) | ||
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $4,820,970 | $5,327,016 |
| Accounts receivable, net | 4,965,381 | 4,307,726 |
| Inventory, net | 3,134,237 | 2,973,134 |
| Other current assets | 519,624 | 287,528 |
| Assets held for sale | 5,941,933 | 649,884 |
| Current assets - discontinued operations | - | 95,861 |
| Total current assets | 19,382,145 | 13,641,149 |
| Property and equipment, net | 1,227,880 | 7,000,015 |
| Right of use assets, operating leases, net | 15,779 | 28,519 |
| Right of use assets, finance leases, net | 364,379 | 436,403 |
| Tradenames and other unamortizable intangible assets | 217,000 | 217,000 |
| Total assets | $21,207,183 | $21,323,086 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities | ||
| Accounts payable and accrued liabilities | $4,090,153 | $6,252,951 |
| Accrued separation costs, related parties, current portion | 334,532 | 463,911 |
| Accrued interest | 91,251 | 95,942 |
| Deferred revenue | 886,787 | 1,312,837 |
| Stock appreciation rights liability | 731,181 | 255,020 |
| Notes payable - current portion | 125,259 | 121,041 |
| Lease liability - operating leases, current | 14,898 | 17,131 |
| Lease liability - finance leases, current | 151,984 | 115,738 |
| Current liabilities - discontinued operations | - | 6,422 |
| Total current liabilities | 6,426,045 | 8,640,993 |
| Note payable, net of discount | 8,436,849 | 8,855,000 |
| Accrued separation costs, related parties, non-current | 541,025 | 791,025 |
| Lease liability - operating leases, non-current | 881 | 11,388 |
| Lease liability - finance leases, non-current | 46,942 | 219,266 |
| Total liabilities | 15,451,742 | 18,517,672 |
| Commitments & Contingencies (see Note 18) | ||
| Stockholders' equity | ||
| Common stock: $0.0001 par value; 500,000,000 shares authorized; 53,977,782 and 52,538,100 shares issued, and 51,133,485 and 49,714,929 shares outstanding at September 30, 2024 and December 31, 2023, respectively | 5,395 | 5,251 |
| Additional paid-in capital | 43,055,316 | 42,762,811 |
| Treasury stock: 2,644,297 and 2,623,171 shares outstanding at September 30, 2024 and December 31, 2023, respectively | (1,141,372) | (1,141,370) |
| Accumulated deficit | (36,163,898) | (38,821,278) |
| Total stockholders' equity | 5,755,441 | 2,805,414 |
| Total liabilities and stockholders' equity | $21,207,183 | $21,323,086 |
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