Co-Diagnostics Inc
For the period ended Dec 31, 2023. Filed Mar 14, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 14, 2024
CODX$0.29-9.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Years Ended December 31, | ||||
|---|---|---|---|---|
| 2023 · 2022 | ||||
| Cash flows from operating activities | ||||
| Net loss | $(35,332,865) | $(14,238,249) | ||
| Adjustments to reconcile net loss to cash (used in) provided by operating activities: | ||||
| Depreciation and amortization | 1,230,474 | 1,282,718 | ||
| Goodwill impairment charges | - | 15,388,546 | ||
| Stock-based compensation expense | 8,336,855 | 7,543,223 | ||
| Change in fair value of acquisition contingencies | (1,092,581) | (7,899,644) | ||
| Non-cash lease expense | 47,992 | 30,430 | ||
| Realized gain on investments | (2,243,059) | - | ||
| (Gain) loss from equity method investment | (100,703) | 332,969 | ||
| Loss on disposition of assets | 2,578 | 138,117 | ||
| Deferred income taxes | (2,417,987) | (4,810,457) | ||
| Provision for credit losses | 612,809 | 2,461,032 | ||
| Inventory obsolescence expense | 3,233,281 | 148,099 | ||
| Changes in assets and liabilities: | ||||
| Accounts receivable | 2,536,988 | 14,924,427 | ||
| Prepaid expenses and other assets | 1,082,536 | (224,094) | ||
| Inventory | 413,140 | (3,673,309) | ||
| Deferred revenue | 362,449 | (150,000) | ||
| Income taxes payable | (522,098) | (2,201,250) | ||
| Accounts payable, accrued expenses and other liabilities | 1,768,326 | (2,483,821) | ||
| Net cash (used in) provided by operating activities | (22,081,865) | 6,568,737 | ||
| Cash flows from investing activities | ||||
| Purchases of property and equipment | (1,365,306) | (1,427,512) | ||
| Proceeds from maturities of marketable investment securities | 127,251,619 | 11,255,266 | ||
| Purchases of marketable securities | (110,497,444) | (67,995,926) | ||
| Net cash (used in) provided by investing activities | 15,388,869 | (58,168,172) | ||
| Cash flows from financing activities | ||||
| Proceeds from exercise of options and warrants | - | 177,870 | ||
| Repurchases of common stock | (1,363,929) | (14,211,866) | ||
| Net cash (used in) financing activities | (1,363,929) | (14,033,996) | ||
| Net decrease in cash and cash equivalents | (8,056,925) | (65,633,431) | ||
| Cash and cash equivalents at beginning of period | 22,973,803 | 88,607,234 | ||
| Cash and cash equivalents at end of period | $14,916,878 | $22,973,803 | ||
| Supplemental disclosure of cash flow information | ||||
| Interest paid | $ | - | $ | - |
| Income taxes paid | $55,975 | $4,498,742 | ||
| Supplemental disclosure of non-cash investing and financing transactions | ||||
| Inventory moved to property, plant and equipment | $673 | $218,906 | ||
| Right-of-use assets obtained in exchange for new operating lease liabilities | $3,203,146 | $681,327 | ||
| Business acquisition measurement period adjustments | $ | - | $1,593 | |
| Fair value of common stock issued as consideration for business acquisitions | $ | - | $480,776 | |
| Fair value of contingent common stock issued as consideration for business acquisitions | $ | - | $199,359 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.