INNOVATIVE FOOD HOLDINGS INC
For the period ended Mar 31, 2025. Filed May 15, 2025.
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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.
Mar 31, 2025 · Filed May 15, 2025
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Extracted filing text, with the paragraph anchors used by the comparison.
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Financial Statements Consolidated Balance Sheets
Consolidated Balance Sheets
| March 31, | December 31, | |
|---|---|---|
| 2025 | 2024 | |
| (unaudited) | ||
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $1,105,274 | $2,330,880 |
| Accounts receivable, net | 7,494,670 | 9,039,232 |
| Inventory, net | 6,796,302 | 6,290,488 |
| Other current assets | 349,918 | 238,526 |
| Assets held for sale | 5,941,933 | 5,941,933 |
| Current assets - discontinued operations | - | 49,315 |
| Total current assets | 21,688,097 | 23,890,374 |
| Property and equipment, net | 1,690,084 | 1,584,878 |
| Right of use assets - operating leases, net | 644,007 | 705,476 |
| Right of use assets - finance leases, net | 494,390 | 524,273 |
| Amortizable intangible assets, net | 402,794 | 424,372 |
| Tradenames and other unamortizable intangible assets | 217,000 | 217,000 |
| Total assets | $25,136,372 | $27,346,373 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities | ||
| Accounts payable and accrued liabilities | $4,989,390 | $6,653,622 |
| Accrued separation costs, related parties, current portion | 308,891 | 334,532 |
| Accrued interest | 91,155 | 91,347 |
| Deferred revenue | 347,700 | 349,600 |
| Stock appreciation rights liability | 1,413,745 | 1,353,150 |
| Notes payable - current portion | 179,981 | 190,052 |
| Lease liability - operating leases, current | 241,317 | 239,660 |
| Lease liability - finance leases, current | 110,994 | 147,797 |
| Contingent liability, current | 54,430 | 54,430 |
| Total current liabilities | 7,737,603 | 9,414,190 |
| Note payable, net of discount | 8,658,425 | 8,692,674 |
| Accrued separation costs, related parties, non-current | 400,000 | 457,692 |
| Lease liability - operating leases, non-current | 407,072 | 467,569 |
| Lease liability - finance leases, non-current | 87,850 | 139,591 |
| Total liabilities | 17,290,950 | 19,171,716 |
| Commitments & Contingencies (see note 21) | ||
| Stockholders’ equity | ||
| Common stock: $0.0001 par value; 500,000,000 shares authorized; 56,831,090 and 56,009,032 shares issued, and 53,986,793 and 53,164,735 shares outstanding at March 31, 2025 and December 31, 2024, respectively | 5,680 | 5,598 |
| Common stock to be issued; 798,891 and 738,032 shares at March 31, 2025 and December 31, 2024, respectively | 79 | 74 |
| Additional paid-in capital | 45,621,235 | 45,520,121 |
| Treasury stock: 2,644,297 shares outstanding at March 31, 2025 and December 31, 2024 | (1,141,372) | (1,141,372) |
| Accumulated deficit | (36,640,200) | (36,209,764) |
| Total stockholders’ equity | 7,845,422 | 8,174,657 |
| Total liabilities and stockholders’ equity | $25,136,372 | $27,346,373 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.