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$5.30-1.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Nine months ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net loss | $(4,542,078) | $(28,779) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Depreciation and amortization expense | 3,406,166 | 3,702,687 |
| Amortization of operating lease right-of-use assets | 855,553 | 709,021 |
| Share-based compensation | 227,083 | 271,146 |
| Decrease in non-cash contingent consideration | (936,072) | (1,017,712) |
| Decrease (Increase) of life insurance policies over premiums paid | (180,081) | 16,357 |
| Noncash interest expense | 19,377 | 11,713 |
| Loss on disposal of assets | 2,691 | — |
| Life insurance proceeds | (237,089) | (346,800) |
| Net changes in assets and liabilities affecting operating activities: | ||
| Accounts receivable | (1,552,449) | 890,361 |
| Inventories | 1,072,295 | 418,355 |
| Other current assets and other assets | 1,022,718 | 1,053,432 |
| Operating lease liabilities | (645,009) | (2,201,773) |
| Accounts payable and other current liabilities | (667,065) | 1,903,021 |
| Other long-term liabilities | (362,844) | (327,329) |
| Net cash provided by (used in) operating activities | (2,516,804) | 5,053,700 |
| Cash flows from investing activities: | ||
| Additions to property and equipment | (64,178) | (232,595) |
| Life insurance policy proceeds received | 237,556 | — |
| Additions to intangible assets | (88,727) | (133,739) |
| Net cash provided by (used in) investing activities | 84,651 | (366,334) |
| Cash flows from financing activities: | ||
| Borrowings on line of credit | 32,988,920 | 23,775,000 |
| Payments on line of credit | (29,681,472) | (27,051,875) |
| Cash settlement of contingent consideration | (1,251,499) | (2,108,933) |
| Payments made in connection with repurchase of common shares | (480,666) | (551,563) |
| Net cash provided by (used in) financing activities | 1,575,283 | (5,937,371) |
| Net decrease in cash and cash equivalents | (856,870) | (1,250,005) |
| Cash and cash equivalents at beginning of period | $18,321,624 | $19,757,970 |
| Cash and cash equivalents at end of period | $17,464,754 | $18,507,965 |
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