CUMBERLAND PHARMACEUTICALS INC
For the period ended Sep 30, 2024. Filed Nov 8, 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.
Sep 30, 2024 · Filed Nov 8, 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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Condensed Consolidated Balance Sheets
| September 30, 2024 | December 31, 2023 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $17,464,754 | $18,321,624 |
| Accounts receivable, net | 11,310,625 | 9,758,176 |
| Inventories, net | 4,509,669 | 4,609,362 |
| Prepaid and other current assets | 1,951,358 | 3,025,248 |
| Total current assets | 35,236,406 | 35,714,410 |
| Non-current inventories | 11,831,927 | 12,804,529 |
| Property and equipment, net | 312,031 | 367,903 |
| Intangible assets, net | 19,415,232 | 22,607,918 |
| Goodwill | 914,000 | 914,000 |
| Operating lease right-of-use assets | 6,208,411 | 6,674,394 |
| Other assets | 2,829,506 | 2,692,921 |
| Total assets | $76,747,513 | $81,776,075 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $12,057,712 | $14,037,629 |
| Operating lease current liabilities | 391,688 | 348,092 |
| Current portion of revolving line of credit | 5,988,920 | — |
| Other current liabilities | 12,649,195 | 13,596,528 |
| Total current liabilities | 31,087,515 | 27,982,249 |
| Revolving line of credit - long term | 10,102,672 | 12,784,144 |
| Operating lease non-current liabilities | 4,997,212 | 5,296,247 |
| Other long-term liabilities | 6,090,722 | 6,453,566 |
| Total liabilities | 52,278,121 | 52,516,206 |
| Equity: | ||
| Shareholders’ equity: | ||
| Common stock—no par value; 100,000,000 shares authorized; 14,010,736 and 14,121,833 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively | 46,843,203 | 47,091,602 |
| Accumulated deficit | (22,064,117) | (17,488,161) |
| Total shareholders’ equity | 24,779,086 | 29,603,441 |
| Noncontrolling interests | (309,694) | (343,572) |
| Total equity | 24,469,392 | 29,259,869 |
| Total liabilities and equity | $76,747,513 | $81,776,075 |
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