RDE Inc
For the period ended Dec 31, 2023. Filed Apr 9, 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 Apr 9, 2024
GIFT$0.51-5.6%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
Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Successor · Predecessor · Predecessor | ||||||
|---|---|---|---|---|---|---|
| December 30, 2023 to December 31, 2023 · January 1, 2023 to December 29, 2023 · Year Ended December 31, 2022 | ||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||||
| Net loss | $(5,020,000) | $(124,545) | $(8,324,579) | |||
| Adjustments to reconcile net loss to net cash used in operating activities | ||||||
| Fair value of common stock issued for services | 5,000,000 | - | - | |||
| Fair value of vested stock options | - | 1,942 | 17,265 | |||
| Depreciation expense | - | 1,290,190 | 4,402,602 | |||
| Amortization of intangible assets | - | 300,000 | 300,000 | |||
| Amortization of debt discount | - | 148,531 | ||||
| Impairment of goodwill | - | - | 834,200 | |||
| Impairment of intangible assets and property and equipment | - | 988,740 | - | |||
| Gain on forgiveness of debt | - | (5,876,000) | - | |||
| Write-down of inventory | - | 101,000 | ||||
| Accrued interest | - | 2,100,610 | 4,483,077 | |||
| Changes in operating assets and liabilities: | ||||||
| Accounts receivable | - | (74,340) | (901,789) | |||
| Inventories | - | 816,853 | 455,629 | |||
| Prepaid expenses | - | (38,328) | 378,436 | |||
| Change in right of use asset | - | 191,953 | 175,230 | |||
| Accounts payable | - | 84,611 | 261,540 | |||
| Accrued expenses | 20,000 | (39,515) | (2,374,858) | |||
| Deferred revenue | - | 27,991 | 118,190 | |||
| Operating lease liability | - | (191,953) | (176,885) | |||
| Net cash used in operating activities | $ | - | $(541,791) | $(102,411) | ||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||||
| Cash, net, received from acquisition | 2,038,472 | - | - | |||
| Capital expenditures | - | (900,000) | (1,000,479) | |||
| Net cash provided by (used in) investing activities | $2,038,472 | $(900,000) | $(1,000,479) | |||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||||
| Advance on purchase consideration from RDE | - | 250,000 | - | |||
| Proceeds from line of credit | - | 104,752,474 | 106,237,380 | |||
| Repayment of line of credit | - | (103,540,098) | (105,828,049) | |||
| Net cash provided by financing activities | $ | - | $1,462,376 | $409,331 | ||
| Net increase (decrease) in cash and cash equivalents | 2,038,472 | 20,585 | (693,559) | |||
| Cash and cash equivalents beginning of period | 2,061,265 | 2,040,680 | 2,734,239 | |||
| Cash and cash equivalents end of period | $4,099,737 | $2,061,265 | $2,040,680 | |||
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||||||
| Interest paid | $ | - | $ | - | $ | - |
| Taxes paid | $ | - | $29,673 | $2,549 | ||
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||||||
| Recording of operating lease right of use asset and lease liability | $ | - | $ | - | $435,521 | |
| Fair value of RDE common stock received | $ | - | $22,962,739 | $ | - | |
| Gain on forgiveness of notes payable | $ | - | $5,462,739 | $ | - | |
| Settlement of notes payable and accrued interest | $ | - | $28,873,696 | $ | - | |
| Termination of Series B convertible preferred stock | $ | - | $4,084,353 | $ | - | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.