Digital Brands Group, Inc.
For the period ended Dec 31, 2024. Filed Apr 9, 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 Apr 9, 2025
DBGI$0.16-19.5%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 | $(13,106,589) | $(10,247,133) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||
| Depreciation and amortization | 2,505,598 | 3,249,194 | ||
| Amortization of loan discount and fees | 2,429,591 | 3,937,007 | ||
| Impairment of intangibles | 1,388,000 | - | ||
| Loss on extinguishment of debt | - | 716,517 | ||
| Loss on disposition of business | - | 1,523,940 | ||
| Stock-based compensation | 169,614 | 408,810 | ||
| Shares issued for services | 312,635 | 1,656,428 | ||
| Shares issued for loan interest conversion | 4,950 | - | ||
| Change in credit reserve | (151,611) | 202,761 | ||
| Change in fair value of contingent consideration | - | (10,698,475) | ||
| Non-cash lease expense | 81,374 | - | ||
| Deferred tax expense | (119,044) | 368,034 | ||
| Changes in operating assets and liabilities: | ||||
| Accounts receivable, net | 30,766 | 497,771 | ||
| Due from factor | 99,236 | 144,755 | ||
| Inventory | 1,025,660 | 375,682 | ||
| Prepaid expenses and other current assets | 2,027 | 551,259 | ||
| Accounts payable | (1,114,242) | 1,900 | ||
| Accrued expenses and other liabilities | 498,610 | 1,047,730 | ||
| Deferred revenue | - | (183,782) | ||
| Accrued interest payable | 381,678 | 434,958 | ||
| Due to related parties | 11,909 | - | ||
| Lease liabilities | (602,500) | - | ||
| Net cash used in operating activities | (6,152,338) | (6,012,644) | ||
| Cash flows from investing activities: | ||||
| Purchase of property, equipment and software | - | (29,675) | ||
| Deposits | - | 118,494 | ||
| Net cash provided by investing activities | - | 88,819 | ||
| Cash flows from financing activities: | ||||
| Repayments from related party advances | - | (155,205) | ||
| Advances from factor | - | 154,073 | ||
| Issuance of loans and note payable | 790,977 | 5,479,611 | ||
| Repayments of convertible notes and loan payable | (3,869,422) | (10,129,811) | ||
| Exercise of warrants | - | 1,167,566 | ||
| Issuance of common stock in public offering | 9,374,441 | 8,145,381 | ||
| Net cash provided by financing activities | 6,295,996 | 4,661,615 | ||
| Net change in cash and cash equivalents | 143,658 | (1,262,210) | ||
| Cash and cash equivalents at beginning of year | 20,773 | 1,283,282 | ||
| Cash and cash equivalents at end of year | $164,431 | $20,773 | ||
| Supplemental disclosure of cash flow information: | ||||
| Cash paid for income taxes | $ | - | $ | - |
| Cash paid for interest | $1,838,682 | $711,815 | ||
| Supplemental disclosure of non-cash investing and financing activities: | ||||
| Right of use asset | $ | - | $467,738 | |
| Shares issued for services and conversion of accounts payable | $313,816 | $ | - | |
| Conversion of preferred shares into common stock | $ | - | $ | - |
| Conversion of notes into preferred stock | $ | - | $5,759,177 | |
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