Digital Brands Group Inc
For the period ended Mar 31, 2024. Filed May 20, 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.
Mar 31, 2024 · Filed May 20, 2024
DBGI$0.28-39.9%Stored close · as of Nov 6, 2026
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Financial Statements Condensed Consolidated Balance Sheets as of March 31, 2024 (Unaudited), and December 31, 2023
ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
| March 31, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| (Unaudited) | ||
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $11,330 | $20,773 |
| Accounts receivable, net | 281,904 | 74,833 |
| Due from factor, net | 759,437 | 337,811 |
| Inventory | 4,648,473 | 4,849,600 |
| Prepaid expenses and other current assets | 301,215 | 276,670 |
| Total current assets | 6,002,359 | 5,559,687 |
| Property, equipment and software, net | 69,294 | 55,509 |
| Goodwill | 8,973,501 | 8,973,501 |
| Intangible assets, net | 9,262,670 | 9,982,217 |
| Deposits | 75,431 | 75,431 |
| Right of use asset | 465,069 | 689,688 |
| Total assets | $24,848,324 | $25,336,033 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $6,266,813 | $7,538,902 |
| Accrued expenses and other liabilities | 4,317,717 | 4,758,492 |
| Due to related parties | 398,779 | 400,012 |
| Convertible note payable, net | 100,000 | 100,000 |
| Accrued interest payable | 1,835,623 | 1,996,753 |
| Loan payable, current | 2,300,674 | 2,325,842 |
| Promissory note payable, net | 5,057,666 | 4,884,592 |
| Lease liabilities | 1,073,389 | 1,210,814 |
| Total current liabilities | 21,350,662 | 23,215,407 |
| Loan payable | 150,000 | 150,000 |
| Deferred tax liability | 368,034 | 368,034 |
| Total liabilities | 21,868,696 | 23,733,441 |
| Commitments and contingencies | - | - |
| Stockholders’ equity: | ||
| Undesignated preferred stock, $0.0001 par value per share, 10,000,000 shares authorized, 0 shares issued and outstanding as of both March 31, 2024 and December 31, 2023 | - | - |
| Series A convertible preferred stock, $0.0001 par value per share, 6,300 shares designated, 6,300 shares issued and outstanding as of both March 31, 2024 and December 31, 2023 | 1 | 1 |
| Series C convertible preferred stock, $0.0001 par value per share, 3,239 and 4,786 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively | 1 | 1 |
| Common stock, $0.0001 par value per share, 1,000,000,000 shares authorized, 1,714,157 and 1,114,359 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively | 170 | 110 |
| Additional paid-in capital | 117,657,641 | 115,596,929 |
| Accumulated deficit | (114,678,184) | (113,994,449) |
| Total stockholders’ equity | 2,979,628 | 1,602,592 |
| Total liabilities and stockholders’ equity | $24,848,324 | $25,336,033 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.