Safe Pro Group Inc
For the period ended Jun 30, 2024. Filed Sep 26, 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.
Jun 30, 2024 · Filed Sep 26, 2024
SPAI$3.28+6.1%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
CONSOLIDATED BALANCE SHEETS AS OF
| June 30, 2024 | December 31, 2023 | |
|---|---|---|
| (unaudited) | ||
| ASSETS | ||
| Current assets: | ||
| Cash | $175,953 | $703,368 |
| Accounts receivable | 41,375 | 163,329 |
| Inventory | 364,572 | 359,159 |
| Prepaid expenses and other current assets | 194,502 | 48,052 |
| Total current assets | 776,402 | 1,273,908 |
| Property and equipment, net | 339,169 | 320,928 |
| Right of use, net | 138,676 | 153,404 |
| Goodwill | 684,867 | 684,867 |
| Intangible assets, net | 1,069,505 | 987,292 |
| Security deposits | 9,800 | 9,800 |
| Total other assets | 2,242,017 | 2,156,291 |
| TOTAL ASSETS | $3,018,419 | $3,430,199 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $227,287 | $169,081 |
| Accrued expenses | 224,818 | 141,660 |
| Accrued compensation and benefits | 548,079 | 203,446 |
| Contract liabilities | 77,413 | 84,670 |
| Note payable | 110,000 | - |
| Convertible notes payable, net of discount | 631,001 | 343,796 |
| Due to related parties | 387,120 | 405,554 |
| Lease liabilities - current | 73,634 | 68,522 |
| Total current liabilities | 2,279,352 | 1,416,729 |
| Long term liabilities: | ||
| Note payable – long term | 146,000 | 146,000 |
| Lease liabilities - long term | 61,688 | 91,112 |
| Total long-term liabilities | 207,688 | 237,112 |
| Total liabilities | 2,487,040 | 1,653,841 |
| Commitments and Contingencies (See Note 11) | - | - |
| Stockholders’ Equity: | ||
| Preferred Stock, $0.0001 par value; 10,000,000 shares authorized | - | - |
| Series A preferred stock; 3,000,000 shares designated, 3,000,000 shares issued and outstanding at June 30, 2024 and December 31, 2023 | 300 | 300 |
| Series B preferred stock; 3,275,000 shares designated, 3,275,000 shares issued and outstanding at June 30, 2024 and December 31, 2023 | 328 | 328 |
| Common stock: $0.0001 par value, 200,000,000 shares authorized; 9,117,583 and 8,734,770 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively | 911 | 873 |
| Additional paid-in capital | 9,710,913 | 8,597,147 |
| Accumulated deficit | (9,181,073) | (6,822,290) |
| Total stockholders’ equity | 531,379 | 1,776,358 |
| Total liabilities and stockholders’ equity | $3,018,419 | $3,430,199 |
See the accompanying notes to the unaudited consolidated financial statements.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.