GIFTIFY, INC.
For the period ended Dec 31, 2024. Filed Mar 31, 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 31, 2025
GIFT$0.51-5.6%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
| Successor · Predecessor | ||||||
|---|---|---|---|---|---|---|
| Year Ended December 31, 2024 · December 30, 2023 to December 31, 2023 · January 1, 2023 to December 29, 2023 | ||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||||
| Net loss | $(18,832,080) | $(5,020,000) | $(124,545) | |||
| Adjustments to reconcile net loss to net cash used in operating activities | ||||||
| Fair value of vested stock options | 8,031,289 | - | 1,942 | |||
| Fair value of vested restricted common stock | 1,431,848 | |||||
| Fair value of common stock issued for employment agreements | 1,250,000 | 5,000,000 | - | |||
| Fair value of common stock issued for services | 771,500 | - | - | |||
| Loss on settlement of vendor balance | 135,415 | - | - | |||
| Fair value of common stock issued for financing costs | 131,000 | - | - | |||
| Change in inventory reserve balance | (61,000) | - | - | |||
| Amortization of capitalized software costs | 1,472,974 | - | 1,290,190 | |||
| Amortization of intangible assets | 2,431,668 | - | 300,000 | |||
| Amortization of debt discount | 18,000 | - | - | |||
| Impairment of intangible assets and property and equipment | - | - | 988,740 | |||
| Accrued interest | 131,398 | - | 2,100,610 | |||
| Gain on forgiveness of debt | - | - | (5,876,000) | |||
| Changes in operating assets and liabilities: | ||||||
| Accounts receivable | 789,499 | - | (74,340) | |||
| Inventories | 97,093 | - | 816,853 | |||
| Prepaid expenses | 113,909 | - | (38,328) | |||
| Change in right of use asset | 304,481 | - | 191,953 | |||
| Accounts payable | (236,731) | - | 84,611 | |||
| Accrued expenses | 592,673 | 20,000 | (39,515) | |||
| Customer deposits | 95,000 | - | - | |||
| Deferred revenue | (259,945) | - | 27,991 | |||
| Deferred taxes | (677,000) | - | - | |||
| Operating lease liability | (282,861) | - | (191,953) | |||
| Net cash used in operating activities | $(2,551,870) | $ | - | $(541,791) | ||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||||
| Cash, net, received from acquisition | - | 2,038,472 | - | |||
| Capital expenditures | - | - | (900,000) | |||
| Net cash provided by (used in) investing activities | $ | - | $2,038,472 | $(900,000) | ||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||||
| Proceeds from line of credit | 104,752,474 | - | 104,752,474 | |||
| Repayment of line of credit | (107,684,779) | - | (103,540,098 | |||
| Proceeds from note payable – related party | 1,978,000 | - | - | |||
| Repayment of acquisition obligation | (500,000) | - | - | |||
| Repayment of notes payable | (26,271) | - | - | |||
| Proceeds from sale of common stock under stock purchase agreement | 200,000 | - | - | |||
| Proceeds from public sale of common stock under at-the-market sale agreement | 286,063 | |||||
| Proceeds from private sale of common stock | 3,021,522 | |||||
| Advance on purchase consideration from Giftify | - | - | 250,000 | |||
| Net cash provided by financing activities | $2,027,009 | $ | - | $1,462,376 | ||
| Net increase (decrease) in cash and cash equivalents | (524,861) | 2,038,472 | 20,585 | |||
| Cash and cash equivalents beginning of period | 4,099,737 | 2,061,265 | 2,040,680 | |||
| Cash and cash equivalents end of period | $3,574,876 | $4,099,737 | $2,061,265 | |||
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||||||
| Interest paid | $841,260 | $ | - | $ | - | |
| Taxes paid | $ | - | $ | - | $29,673 | |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||||||
| Present value of operating lease right of use asset and lease liability | $1,395,541 | $ | - | $ | - | |
| Fair value of common stock issued for settlement of vendor balance | $150,000 | $ | - | $ | - | |
| Issuance of common stock issued for common stock issuable | $32,500 | $ | - | $ | - | |
| Fair value of Giftify common stock received | $ | - | $ | - | $22,962,739 | |
| Gain on forgiveness of notes payable | $ | - | $ | - | $5,462,739 | |
| Settlement of notes payable and accrued interest | $ | - | $ | - | $28,873,696 | |
| Termination of Series B convertible preferred stock | $ | - | $ | - | $4,084,353 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.