Sanara MedTech Inc.
For the period ended Dec 31, 2024. Filed Mar 25, 2025.
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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 25, 2025
SMTI$31.66-1.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net loss | $(9,911,898) | $(4,439,902) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 4,923,224 | 3,675,026 |
| Credit loss expense | 624,448 | 202,941 |
| Inventory obsolescence | 521,757 | 406,812 |
| Share-based compensation | 4,436,048 | 3,442,722 |
| Noncash lease expense | 547,297 | 342,972 |
| Share of losses from equity method investments | 90,007 | - |
| Gain on disposal of investment | - | (251,034) |
| Back-end fee | 358,086 | - |
| Paid-in-kind interest | 838,965 | - |
| Accretion of finance liabilities | 210,931 | 98,926 |
| Amortization and write-off of debt issuance costs | 209,499 | 5,138 |
| Change in fair value of earnout liabilities | (1,938,451) | (3,449,895) |
| Accrued interest income | (21,978) | - |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | (4,508,958) | (1,821,895) |
| Accounts receivable – related parties | (32,166) | 90,148 |
| Inventory, net | 1,442,744 | (1,545,339) |
| Prepaid and other assets | (515,496) | 496,200 |
| Accounts payable | (424,318) | 531,380 |
| Accounts payable – related parties | (46,891) | 43,768 |
| Accrued royalties and expenses | 574,189 | (739,645) |
| Accrued bonuses and commissions | 3,102,069 | (81,513) |
| Operating lease liabilities | (502,892) | (252,366) |
| Net cash used in operating activities | (23,784) | (3,245,556) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (205,848) | (265,246) |
| Purchases of intangible assets | (23,452) | - |
| Proceeds from disposal of property and equipment | - | 650 |
| Investment in equity securities | (5,302,952) | - |
| Convertible loan receivable | (1,079,391) | - |
| Acquisitions, net of cash acquired | - | (9,942,750) |
| Net cash used in investing activities | (6,611,643) | (10,207,346) |
| Cash flows from financing activities: | ||
| Loan proceeds, net of debt issuance costs of $1,160,740 in 2024 and $61,658 in 2023 | 29,339,260 | 9,688,341 |
| Pay off line of credit | (9,750,000) | - |
| Equity offering net proceeds (expenses) | (75,000) | 911,371 |
| Net settlement of equity-based awards | (125,205) | (135,794) |
| Cash payment of finance and earnout liabilities | (2,022,549) | (822,795) |
| Net cash provided by financing activities | 17,366,506 | 9,641,123 |
| Net increase (decrease) in cash | 10,731,079 | (3,811,779) |
| Cash, beginning of period | 5,147,216 | 8,958,995 |
| Cash, end of period | $15,878,295 | $5,147,216 |
| Cash paid during the period for: | ||
| Interest | $1,580,984 | $283,948 |
| Supplemental noncash investing and financing activities: | ||
| Right of use assets obtained in exchange for lease obligations | - | 1,531,773 |
| Equity issued for acquisitions | - | 3,089,645 |
| Earnout and other liabilities generated by acquisitions | - | 3,759,642 |
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