Advanced Flower Capital Inc
For the period ended Dec 31, 2024. Filed Mar 13, 2025.
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FY2024 · Filed Mar 13, 2025
AFCG$3.49+1.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets as of December 31, 202 and
CONSOLIDATED BALANCE SHEETS
| As ofDecember 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Assets | ||
| Loans held for investment at fair value (cost of $50,241,018 and $71,644,003 at December 31, 2024 and 2023, respectively, net) | $30,510,804 | $61,720,705 |
| Loans held for investment at carrying value, net | 293,262,374 | 301,265,398 |
| Loan receivable held at carrying value, net | 1,895,638 | 2,040,058 |
| Current expected credit loss reserve | (30,419,677) | (26,309,450) |
| Loans held for investment at carrying value and loan receivable held at carrying value, net of current expected credit loss reserve | 264,738,335 | 276,996,006 |
| Cash and cash equivalents | 103,610,460 | 90,381,831 |
| Accounts receivable | — | 1,837,450 |
| Interest receivable | 1,982,897 | 3,715,995 |
| Prepaid expenses and other assets | 1,214,817 | 688,446 |
| Assets of discontinued operations | — | 31,244,622 |
| Total assets | $402,057,313 | $466,585,055 |
| Liabilities | ||
| Accrued interest | $894,611 | $894,000 |
| Due to affiliate | 6,754 | 16,437 |
| Dividends payable | 7,369,866 | 9,819,695 |
| Current expected credit loss reserve | 166,702 | 115,473 |
| Accrued management and incentive fees | 1,932,246 | 3,471,726 |
| Accrued direct administrative expenses | 1,197,518 | 1,486,256 |
| Accounts payable and other liabilities | 501,328 | 704,685 |
| Senior notes payable, net | 88,612,150 | 88,014,558 |
| Line of credit payable | 60,000,000 | 42,000,000 |
| Line of credit payable to affiliate | 40,000,000 | — |
| Liabilities of discontinued operations | — | 10,000 |
| Total liabilities | 200,681,175 | 146,532,830 |
| Commitments and contingencies (Note 10) | ||
| Shareholders’ equity | ||
| Preferred stock, par value $0.01 per share, 10,000 shares authorized at December 31, 2024 and 2023 and 0 and 125 shares issued and outstanding at December 31, 2024 and 2023, respectively | — | 1 |
| Common stock, par value $0.01 per share, 50,000,000 shares authorized at December 31, 2024 and 2023 and 22,332,927 and 20,457,697 shares issued and outstanding at December 31, 2024 and 2023, respectively | 223,329 | 204,577 |
| Additional paid-in capital | 251,865,763 | 349,805,890 |
| Accumulated (deficit) earnings | (50,712,954) | (29,958,243) |
| Total shareholders’ equity | 201,376,138 | 320,052,225 |
| Total liabilities and shareholders’ equity | $402,057,313 | $466,585,055 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.