Sanara MedTech Inc
For the period ended Dec 31, 2023. Filed Mar 25, 2024.
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FY2023 · Filed Mar 25, 2024
SMTI$32.10+1.7%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
SANARA MEDTECH INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
| December 31, | December 31, | |
|---|---|---|
| 2023 | 2022 | |
| Assets | ||
| Current assets | ||
| Cash | $5,147,216 | $8,958,995 |
| Accounts receivable, net | 8,474,965 | 6,805,761 |
| Accounts receivable – related parties | 8,400 | 98,548 |
| Royalty receivable | 49,344 | 99,594 |
| Inventory, net | 4,717,533 | 3,549,000 |
| Prepaid and other assets | 608,411 | 1,104,611 |
| Total current assets | 19,005,869 | 20,616,509 |
| Long-term assets | ||
| Intangible assets, net | 44,926,061 | 31,509,980 |
| Goodwill | 3,601,781 | 3,601,781 |
| Investment in equity securities | 3,084,278 | 3,084,278 |
| Right of use assets – operating leases | 1,995,204 | 806,402 |
| Property and equipment, net | 1,257,956 | 1,416,436 |
| Total long-term assets | 54,865,280 | 40,418,877 |
| Total assets | $73,871,149 | $61,035,386 |
| Liabilities and shareholders’ equity | ||
| Current liabilities | ||
| Accounts payable | $1,924,082 | $1,392,701 |
| Accounts payable – related parties | 77,805 | 34,036 |
| Accrued bonuses and commissions | 7,676,770 | 7,758,284 |
| Accrued royalties and expenses | 2,047,678 | 2,144,475 |
| Earnout liabilities – current | 1,100,000 | 1,162,880 |
| Current portion of debt | 580,357 | - |
| Operating lease liabilities – current | 361,185 | 313,933 |
| Total current liabilities | 13,767,877 | 12,806,309 |
| Long-term liabilities | ||
| Long-term debt, net of current portion | 9,113,123 | - |
| Earnout liabilities – long-term | 2,723,001 | 6,003,811 |
| Operating lease liabilities – long-term | 1,737,445 | 505,291 |
| Other long-term liabilities | 1,941,686 | - |
| Total long-term liabilities | 15,515,255 | 6,509,102 |
| Total liabilities | 29,283,132 | 19,315,411 |
| Commitments and contingencies (Note 10) | - | |
| Shareholders’ equity | ||
| Common Stock: $0.001 par value, 20,000,000 shares authorized; 8,535,239 issued and outstanding as of December 31, 2023 and 8,299,957 issued and outstanding as of December 31, 2022 | 8,535 | 8,300 |
| Additional paid-in capital | 72,860,556 | 65,213,987 |
| Accumulated deficit | (28,036,814) | (23,394,757) |
| Total Sanara MedTech shareholders’ equity | 44,832,277 | 41,827,530 |
| Equity attributable to noncontrolling interest | (244,260) | (107,555) |
| Total shareholders’ equity | 44,588,017 | 41,719,975 |
| Total liabilities and shareholders’ equity | $73,871,149 | $61,035,386 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.