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.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows (Unaudited)
Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows used in operating activities: | ||
| Net loss | $(16,488,425) | $(11,027,640) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 440,546 | 616,704 |
| Amortization of right-of-use assets | 119,465 | 133,057 |
| Amortization of debt issuance costs | 29,815 | 53,404 |
| Amortization of sales contract costs | — | 28,814 |
| Stock based compensation | 279,394 | 972,056 |
| Provision (recovery) for accounts receivable allowances | (138,331) | 98,984 |
| Provision for inventory valuation adjustment | — | 839,012 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (102,495) | (1,428,785) |
| Inventories | 14,922,185 | 2,739,413 |
| Prepaid expenses and other current assets | 230,993 | 260,376 |
| Other assets | 26,803 | 48,846 |
| Accounts payable | 7,365,878 | (5,523,817) |
| Accrued expenses | (3,041,742) | 341,615 |
| Deferred revenue | 184,940 | 518,975 |
| Operating lease liabilities | (119,465) | (133,728) |
| Net cash provided by (used in) operating activities | 3,709,561 | (11,462,714) |
| Cash flows from investing activities: | ||
| Purchases of equipment | (162,270) | (252,624) |
| Certification costs capitalized | (219,595) | (345,983) |
| Net cash used in investing activities | (381,865) | (598,607) |
| Cash flows from financing activities: | ||
| Net proceeds from (payment on) the bank credit line | (3,891,682) | 726,081 |
| Repayment of government loan | — | (34,252) |
| Proceeds from stock option exercises | — | 236,803 |
| Net cash provided by (used in) financing activities | (3,891,682) | 928,632 |
| Net increase (decrease) in cash and cash equivalents | (563,986) | (11,132,689) |
| Cash, cash equivalents, and restricted cash - Beginning | 1,030,110 | 13,070,445 |
| Cash, cash equivalents, and restricted cash - Ending | $466,124 | $1,937,756 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid during the period for: | ||
| Interest | $235,006 | $263,097 |
| Income taxes | $24,451 | $73,026 |
| Cash is reported on the consolidated statements of cash flows as follows: | ||
| Cash and cash equivalents | $466,124 | $1,437,756 |
| Restricted cash | — | 500,000 |
| Total cash, cash equivalents and restricted cash | $466,124 | $1,937,756 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.