MINIM INC
For the period ended Sep 30, 2023. Filed Jan 8, 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.
Sep 30, 2023 · Filed Jan 8, 2024
FIEE$2.98-6.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets
| September 30, 2023 (Unaudited) | December 31, 2022 | |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $466,124 | $530,110 |
| Restricted cash | — | 500,000 |
| Accounts receivable, net of allowance of doubtful accounts of $0 and $138,331 as of September 30, 2023 and December 31, 2022, respectively | 2,999,232 | 2,758,406 |
| Inventories | 10,493,021 | 25,415,206 |
| Prepaid expenses and other current assets | 129,765 | 360,735 |
| Total current assets | 14,088,142 | 29,564,457 |
| Equipment, net | 559,464 | 636,973 |
| Operating lease right-of-use assets, net | 54,015 | 173,480 |
| Intangible assets, net | 37,584 | 73,301 |
| Other assets | 539,538 | 511,795 |
| Total assets | $15,278,743 | $30,960,006 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities | ||
| Bank credit line | $896,796 | $4,758,663 |
| Accounts payable | 10,203,069 | 2,837,191 |
| Bridge loan agreement | 1,000,000 | 1,000,000 |
| Current maturities of operating lease liabilities | 54,015 | 150,968 |
| Accrued expenses | 1,399,007 | 4,440,724 |
| Deferred revenue, current | 845,019 | 633,542 |
| Total current liabilities | 14,397,905 | 13,821,088 |
| Operating lease liabilities, less current maturities | — | 22,512 |
| Deferred revenue, noncurrent | 745,201 | 771,738 |
| Total liabilities | 15,143,106 | 14,615,338 |
| Commitments and Contingencies (Note 6) | - | - |
| Stockholders’ equity | ||
| Preferred Stock, authorized: 2,000,000 shares at $0.01 par value; 0 shares issued and outstanding | — | — |
| Common Stock, authorized: 60,000,000 shares at $0.01 par value; issued and outstanding: 1,898,466 shares at September 30, 2023 and 1,877,970 shares at December 31, 2022 respectively | 471,992 | 469,492 |
| Additional paid-in capital | 90,986,924 | 90,710,030 |
| Accumulated deficit | (91,323,279) | (74,834,854) |
| Total stockholders’ equity | 135,637 | 16,344,668 |
| Total liabilities and stockholders’ equity | $15,278,743 | $30,960,006 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.