TRxADE HEALTH INC
For the period ended Dec 31, 2023. Filed Apr 22, 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 22, 2024
SCNX$3.04-5.0%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 and 2022
| 2023 · 2022 | ||||
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net loss | $(13,720,546) | $(2,403,442) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||
| Depreciation expense | 19,375 | 13,486 | ||
| Options expense | 29,738 | 79,163 | ||
| Common stock issued for services | 257,772 | 254,106 | ||
| Bad debt expense | - | (246,683) | ||
| Loss on write-off of intangible asset | - | 792,500 | ||
| Loss on inventory investment | - | 875,250 | ||
| Goodwill impairment | 5,129,115 | - | ||
| Loss on inventory investments | - | - | ||
| Gain on sale of asset | - | (2,200) | ||
| Amortization of right-of-use assets | 215,665 | 181,218 | ||
| Amortization of intangible assets | 814,790 | - | ||
| Changes in operating assets and liabilities: | ||||
| Accounts receivable, net | (293,784) | 369,932 | ||
| Prepaid assets and deposits | 38,367 | 335,066 | ||
| Inventory | 4,232,947 | (51,737) | ||
| Other receivables | (254,924) | (875,250) | ||
| Right-of-use assets | 306,527 | - | ||
| Lease liability | (534,997) | (164,618) | ||
| Accounts payable | 1,607,625 | 199,833 | ||
| Accrued liabilities | 58,692 | (211,694) | ||
| Purchase price payable | 350,000 | - | ||
| Current liabilities | 2,794 | 67,517 | ||
| Warrant liability | 148,420 | 588,533 | ||
| Net cash used in operating activities from continuing operations | (1,592,424) | (199,020) | ||
| Net cash used in operating activities from discontinued operations | (481,177) | (1,365,648) | ||
| Cash flows from investing activities: | ||||
| Funds acquired through acquisitions | (344,454) | - | ||
| Proceeds from sale of fixed assets | - | 749 | ||
| Investment in capitalized software | - | - | ||
| Net cash (used in) investing activities from continuing operations | (344,454) | 749 | ||
| Net cash provided by investing activities from discontinued operations | 68,737 | (428,594) | ||
| Cash flows from financing activities: | ||||
| Proceeds from the issuance of debt | 400,000 | - | ||
| Repayment of debt | (150,000) | - | ||
| Repayment of contingent liability | (1,043,107) | (716,964) | ||
| Proceeds from sale of future revenue | 2,181,417 | 825,000 | ||
| Proceeds from exercise of stock options | - | - | ||
| Proceeds from exercise of warrants | 1,622 | 875 | ||
| Proceeds from securities purchase agreement | 516,400 | - | ||
| Proceeds from issuance of common stock, net of issuance costs | - | 130,918 | ||
| Net cash provided by (used in) financing activities from continuing operations | 1,906,332 | 239,829 | ||
| Net cash (used in) financing activities from discontinued operations | (500,000) | (275,000) | ||
| Net decrease in cash | (942,986) | (2,027,684) | ||
| Cash at beginning of the year | 1,094,894 | 3,122,578 | ||
| Cash at end of the period | $151,908 | $1,094,894 | ||
| Supplemental disclosure of cash flow information | ||||
| Cash paid for interest, net | $733,694 | $336,206 | ||
| Cash paid for income taxes | $ | - | $ | - |
| Non-Cash Transactions | ||||
| Insurance premium financed | $306,152 | $220,354 | ||
| Note issued as SOSRx contribution | - | $500,000 | ||
| Not cancelled from SORx agreement termination | $500,000 | - | ||
| Intangible asset contribution from non-controlling interest | $ | - | $792,500 | |
| Disposition of assets, related party | $492,030 | - | ||
| Issuance of note receivable | $1,300,000 | $ | - | |
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