SOAR AI, Inc.
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 31, 2025
SOAR$0.19-7.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets as of December 31, 202 and
CONSOLIDATED BALANCE SHEETS
(Amounts in thousands, except par value amounts)
| December 31, 2024 | December 31,2023 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash | $2,161 | $14,486 |
| Restricted cash | 1,839 | — |
| Accounts receivable, net | 2 | 442 |
| Deposits | 36,000 | 25,125 |
| Prepaid expenses and other current assets | 1,070 | 1,873 |
| Current assets - discontinued operations | 2,242 | 4,572 |
| Total current assets | 43,314 | 46,498 |
| Property and equipment, net | 683 | 846 |
| Operating lease, right-of-use assets | 167 | — |
| Deposits | 300 | 15,250 |
| Forward purchase agreement | — | 2,982 |
| Restricted cash | — | 2,237 |
| Intangibles, net | 1,200 | 1,391 |
| Goodwill | 635 | 635 |
| Non-current assets - discontinued operations | — | 1,873 |
| Total assets | $46,299 | $71,712 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT) | ||
| Current liabilities: | ||
| Accounts payable and accrued liabilities | $5,710 | $4,255 |
| Loan from related party | — | 1,000 |
| Convertible notes, net | 4,050 | — |
| Operating lease liability | 39 | — |
| Merger transaction costs payable in shares | — | 4,250 |
| Credit facility and other loans | 28,855 | 20,107 |
| Customer deposits and deferred revenue | 11,538 | 2,831 |
| Current liabilities - discontinued operations | 12,008 | 15,194 |
| Total current liabilities | 62,200 | 47,637 |
| Deferred income tax liability | 305 | 305 |
| Operating lease liability, non-current | 128 | — |
| Credit facility, non-current | — | 8,054 |
| Non-current liabilities - discontinued operations | — | 965 |
| Total liabilities | $62,633 | $56,961 |
| COMMITMENTS AND CONTINGENCIES (Note 18) | ||
| Shareholders’ equity (deficit): | ||
| Common Stock Class A, $0.0001 par value; 200,000,000 authorized; 1,843,852 and 1,121,738 shares issued and outstanding as of December 31, 2024 and 2023, respectively | 5 | 3 |
| Additional paid-in capital | 87,968 | 78,410 |
| Stock subscriptions receivable | — | — |
| Accumulated deficit | (104,307) | (63,662) |
| Total shareholders’ equity (deficit) | (16,334) | 14,751 |
| Total liabilities and shareholders’ equity (deficit) | 46,299 | $71,712 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.