Algorhythm Holdings, Inc.
For the period ended Jun 30, 2025. Filed Aug 19, 2025.
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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.
Jun 30, 2025 · Filed Aug 19, 2025
RIME$0.09+6.0%Stored close · as of Nov 6, 2026
Contents
Condensed Consolidated Balance Sheets as of June 30, 2025 (Unaudited) and December 31, 2024
CONDENSED CONSOLIDATED BALANCE SHEETS
| June 30, 2025 | December 31, 2024 | |
|---|---|---|
| (unaudited) | ||
| Assets | ||
| Current Assets | ||
| Cash | $1,134,000 | $7,550,000 |
| Accounts receivable, net of allowances of $101,000 and $274,000, respectively | 2,317,000 | 4,373,000 |
| Accounts receivable, related party | 124,000 | 212,000 |
| Note receivable - related party | - | 701,000 |
| Inventory | 2,733,000 | 2,186,000 |
| Returns asset | 93,000 | 1,621,000 |
| Prepaid expenses and other current assets | 1,219,000 | 120,000 |
| Total Current Assets | 7,620,000 | 16,763,000 |
| Property and equipment, net | 252,000 | 284,000 |
| Other non-current assets | 90,000 | 124,000 |
| Intangible assets, net | 315,000 | 345,000 |
| Goodwill | 4,418,000 | 786,000 |
| Total Assets | $12,695,000 | $18,302,000 |
| Liabilities and Shareholders’ Equity | ||
| Current Liabilities | ||
| Accounts payable | $1,996,000 | $3,808,000 |
| Accrued expenses | 3,295,000 | 4,224,000 |
| Refund due to customer | 1,232,000 | 38,000 |
| Reserve for sales returns | 521,000 | 3,355,000 |
| Warrant liability | - | 16,603,000 |
| Promissory notes payable,net | 379,000 | - |
| Current portion of promissory note payable - SemiCab, Inc. | 1,500,000 | - |
| Current portion of notes payable to related parties | 265,000 | 265,000 |
| Other current liabilities | 62,000 | 145,000 |
| Total Current Liabilities | 9,250,000 | 28,438,000 |
| Notes payable to related parties, net of current portion | 385,000 | 385,000 |
| Promoissory note payable - SemiCab, Inc., net of current portion | 250,000 | - |
| Total Liabilities | 9,885,000 | 28,823,000 |
| Commitments and Contingencies | - | - |
| Shareholders’ Equity (Deficit) | ||
| Preferred stock, $1.00 par value; 1,000,000 shares authorized; no shares issued and outstanding at June 30, 2025 and December 31, 2024 | - | - |
| Common stock, $0.01 par value; 800,000,000 and 100,000,000 shares authorized; 2,514,571 and 470,825 shares issued and outstanding at June 30, 2025 and December 31, 2024 | 25,000 | 5,000 |
| Additional paid-in capital | 63,854,000 | 39,682,000 |
| Accumulated deficit | (58,948,000) | (49,172,000) |
| Non-controlling interest | (1,363,000) | (1,036,000) |
| Treasury stock, 10,990 and 0 shares reserved at June 30, 2025 and December 31, 2024 | (758,000) | - |
| Total Algorhythm Holdings Shareholders’ Equity (Deficit) | 2,810,000 | (10,521,000) |
| Total Liabilities and Shareholders’ Equity (Deficit) | $12,695,000 | $18,302,000 |
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