CUMBERLAND PHARMACEUTICALS INC
For the period ended Dec 31, 2023. Filed Mar 13, 2024.
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FY2023 · Filed Mar 13, 2024
CPIX$5.37+2.9%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
December 31, 2023 and 2022
| 2023 | 2022 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $18,321,624 | $19,757,970 |
| Accounts receivable, net | 9,758,176 | 13,163,681 |
| Inventories, net | 4,609,362 | 9,863,581 |
| Prepaid and other current assets | 3,025,248 | 3,084,978 |
| Total current assets | 35,714,410 | 45,870,210 |
| Non-current inventories | 12,804,529 | 7,527,167 |
| Property and equipment, net | 367,903 | 284,039 |
| Intangible assets, net | 22,607,918 | 30,590,678 |
| Goodwill | 914,000 | 914,000 |
| Operating lease right-of-use assets | 6,674,394 | 5,218,403 |
| Other assets | 2,692,921 | 2,520,661 |
| Total assets | $81,776,075 | $92,925,158 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $14,037,629 | $10,819,011 |
| Operating lease current liabilities | 348,092 | 172,910 |
| Other current liabilities | 13,596,528 | 17,587,911 |
| Total current liabilities | 27,982,249 | 28,579,832 |
| Revolving line of credit | 12,784,144 | 16,200,000 |
| Operating lease non-current liabilities | 5,296,247 | 4,586,301 |
| Other long-term liabilities | 6,453,566 | 7,585,019 |
| Total liabilities | 52,516,206 | 56,951,152 |
| Commitments and contingencies | ||
| Equity: | ||
| Shareholders’ equity: | ||
| Common stock – no par value; 100,000,000 shares authorized; 14,121,833 and 14,366,316 shares issued and outstanding as of December 31, 2023 and 2022, respectively | 47,091,602 | 47,474,973 |
| Accumulated deficit | (17,488,161) | (11,208,841) |
| Total shareholders’ equity | 29,603,441 | 36,266,132 |
| Noncontrolling interests | (343,572) | (292,126) |
| Total equity | 29,259,869 | 35,974,006 |
| Total liabilities and equity | $81,776,075 | $92,925,158 |
See accompanying notes to consolidated financial statements.
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