FITLIFE BRANDS INC
For the period ended Nov 14, 2024. Filed Nov 14, 2024.
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A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.
Nov 14, 2024 · Filed Nov 14, 2024
FTLF$7.98-0.3%Stored close · as of Nov 6, 2026
Contents
EX-99.1 · (In thousands, except per share data)
(In thousands, except per share data)
| September 30, 2024 | December 31, 2023 | |
|---|---|---|
| (Unaudited) | ||
| ASSETS: | ||
| CURRENT ASSETS | ||
| Cash and cash equivalents | $4,664 | $1,139 |
| Restricted cash | 56 | 759 |
| Accounts receivable, net of allowance of doubtful accounts of $19 and $17, respectively | 2,008 | 2,046 |
| Inventories, net of allowance for obsolescence of $86 and $162, respectively | 10,371 | 9,091 |
| Sales tax receivable | 58 | 1,019 |
| Prepaid expense and other current assets | 942 | 639 |
| Total current assets | 18,099 | 14,693 |
| Property and equipment, net | 91 | 137 |
| Right of use asset | 431 | 121 |
| Intangibles, net of amortization of $143 and $113, respectively | 26,314 | 26,309 |
| Goodwill | 13,130 | 13,294 |
| Deferred tax asset | 522 | 792 |
| TOTAL ASSETS | $58,587 | $55,346 |
| LIABILITIES AND STOCKHOLDERS' EQUITY: | ||
| CURRENT LIABILITIES: | ||
| Accounts payable | $4,078 | $3,261 |
| Accrued expense and other liabilities | 957 | 1,026 |
| Income taxes payable | 1,861 | 892 |
| Product returns | 570 | 571 |
| Term loan – current portion | 4,500 | 4,500 |
| Lease liability - current portion | 89 | 87 |
| Total current liabilities | 12,055 | 10,337 |
| Term loan, net of current portion and unamortized deferred finance costs | 9,664 | 15,509 |
| Long-term lease liability, net of current portion | 352 | 51 |
| Deferred tax liability | 2,358 | 2,413 |
| TOTAL LIABILITIES | 24,429 | 28,310 |
| STOCKHOLDERS’ EQUITY: | ||
| Preferred stock, $0.01 par value, 10,000 shares authorized, none outstanding as of September 30, 2024 and December 31, 2023 | - | - |
| Common stock, $0.01 par value, 60,000 shares authorized; 4,598 issued and outstanding as of September 30, 2024 and December 31, 2023 | 46 | 46 |
| Additional paid-in capital | 31,043 | 30,699 |
| Retained earnings (accumulated deficit) | 3,497 | (3,417) |
| Foreign currency translation adjustment | (428) | (292) |
| TOTAL STOCKHOLDERS' EQUITY | 34,158 | 27,036 |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $58,587 | $55,346 |
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