Newsmax Inc.
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
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FY2024 · Filed Mar 31, 2025
NMAX$7.77+5.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| December 31,2024 | December 31,2023 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $24,052,887 | $6,037,211 |
| Investments | 58,310,955 | 1,221,585 |
| Accounts receivable, net | 28,265,721 | 21,971,756 |
| Inventories, net | 1,792,697 | 3,834,706 |
| Prepaid distribution | 179,624 | 722,651 |
| Prepaid expenses and other current assets | 5,688,910 | 1,628,508 |
| Total current assets | 118,290,794 | 35,416,417 |
| Property and equipment, net | 6,225,617 | 8,029,457 |
| Right of use asset, operating lease | 7,191,606 | 10,565,899 |
| Other asset | 13,755,420 | 16,812,180 |
| Security deposits | 609,426 | 785,878 |
| Total assets | $146,072,863 | $71,609,831 |
| LIABILITIES AND STOCKHOLDERS’ DEFICIT | ||
| Current liabilities | ||
| Accounts payable | 14,670,846 | $19,606,959 |
| Accrued expenses | 9,882,720 | 2,419,837 |
| Accrued payroll | 2,220,872 | 1,453,444 |
| Accrued distribution | 1,068,366 | 1,898,593 |
| Deferred revenue | 13,652,699 | 14,850,053 |
| Lease liability, operating lease | 3,894,102 | 3,670,598 |
| Lease liability, finance lease | 199,237 | 169,055 |
| Line of credit | - | 500,000 |
| Settlement liability | 29,099,265 | 7,279,412 |
| Warrant liability | 6,499,821 | - |
| Derivative liability | 41,459,418 | - |
| Total current liabilities | 122,647,346 | 51,847,951 |
| Long-term liabilities: | ||
| Deferred revenue, net of current portion | 2,835,218 | 3,122,044 |
| Lease liability, operating lease, net of current portion | 4,049,256 | 7,880,413 |
| Lease liability finance lease, net of current portion | 129,930 | 185,393 |
| Settlement liability, net of current portion | 25,477,941 | 32,158,126 |
| Total liabilities | 155,139,691 | 95,193,927 |
| Commitments and contingencies (Note 11) | ||
| Convertible and redeemable preferred stock, $0.001 par value; 11,034 shares authorized; and 5,575 and 5,575 shares issued and outstanding as of December 31, 2024 and December 31, 2023 | 128,576,901 | 126,018,101 |
| Stockholders’ deficit | ||
| Convertible and redeemable preferred stock, $0.001 par value; 60,000 shares authorized; and 27,612 and 0 shares issued and outstanding as of December 31, 2024 and December 31, 2023 | 86,742,045 | - |
| Common stock, $0.001 par value; 20,000 Class A shares authorized; 68,127,538 Class A shares issued and outstanding at December 31, 2024 and 2023, respectively; 60,000 Class B shares authorized; 0 Class B shares issued and outstanding at December 31, 2024 and 2023, respectively. (1) | 10 | 10 |
| Treasury stock, 27,061,584 shares at cost, respectively | (14,622,222) | (14,622,222) |
| Additional paid-in capital | 18,056,702 | 18,056,702 |
| Accumulated other comprehensive (loss) | (52,849) | - |
| Accumulated deficit | (227,767,415) | (153,036,687) |
| Total stockholders’ deficit | (137,643,729) | (149,602,197) |
| Total liabilities, convertible and redeemable preferred stock and stockholders’ deficit | $146,072,863 | $71,609,831 |
(1) On March 28, 2025, the Company announced a 6,765.396 for 1 stock split, effective March 31, 2025. This stock split is reflected retroactively in all periods periods presented for the common shares issued and outstanding. See Note 1. Nature of Business.
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