10-Q
Quarterly Report
Fundamental Global Inc.
FGFPP
NASDAQ
CIK: 1591890
File #: 001-36366
Balance Sheet
74 line items · 2 periods
XBRL
| Item | Jun 30, 2024 | Dec 31, 2023 |
|---|---|---|
ASSETS | ||
Cash and Cash Equivalents | 5,850,000 | 5,995,000 |
Accounts Receivable | 4,243,000 | 3,529,000 |
Inventory | 2,548,000 | 1,482,000 |
Cash and Cash Equivalents | 5,063,000 | 10,552,000 |
Equity method investment | 38,491,000 | 17,469,000 |
GreenFirst Common Stock | 400,000 | — |
GreenFirst Forest Products Holdings LLC - GreenFirst Common Stock | 382,000 | — |
FG Merchant Partners LP - FG Acquisition Corp Common Shares and Warrants | 2,208,000 | — |
FGAC Investors LLC - FG Acquisition Corp Common Shares and Warrants | 8,384,000 | — |
FG Merchant Partners LP - Icore Connect Preferred Shares and Warrants | 2,733,000 | — |
FG Merger Investors LLC - Icore Connect Preferred Shares and Warrants | 5,136,000 | — |
FG Merchant Partners LP - Hagerty Warrants | 646,000 | — |
FG Merchant Partners LP - FG Communities Common and Preferred Shares | 2,003,000 | — |
FG Merchant Partners LP - Craveworthy Common Shares and Note | 1,456,000 | — |
FG Merchant Partners LP | 9,046,000 | — |
FGAC Investors LLC | 8,384,000 | — |
FG Merger Investors LLC | 5,136,000 | — |
GreenFirst Forest Products Holdings LLC | 382,000 | — |
Property, Plant and Equipment | 3,118,000 | 11,115,000 |
Operating Lease Right-of-Use Asset | 295,000 | 371,000 |
Other Non-Operating Non-Current Assets | 1,071,000 | 1,258,000 |
Deferred policy acquisition costs | 1,637,000 | — |
Other Non-Operating Current Assets | 18,139,000 | — |
Funds deposited with reinsured companies | 8,055,000 | — |
Other Non-Operating Current Assets | 8,396,000 | 9,886,000 |
Strong MDI | 8,396,000 | 8,946,000 |
Strong Studios | — | 940,000 |
Other Non-Operating Current Assets | 1,498,000 | 486,000 |
Equity Method Investments | 20,000 | — |
Total assets | 98,404,000 | 62,143,000 |
Equity Method Investments | 74,779,000 | — |
Insurance | 38,977,000 | — |
Asset Management | 32,857,000 | — |
Strong Global Entertainment | 12,505,000 | — |
Other Operating Segment | 14,065,000 | — |
LIABILITIES | ||
Accounts Payable | 6,832,000 | 4,834,000 |
Deferred revenue and customer deposits | 1,157,000 | 867,000 |
Restructuring Provisions | 9,742,000 | — |
Unearned premium reserves | 7,781,000 | — |
Operating Lease Liability, Current | 338,000 | 421,000 |
Finance lease liabilities | 1,100,000 | 1,283,000 |
Short-Term Debt | 2,614,000 | 2,294,000 |
Strong MDI 20 Year Installment Loan | 2,193,000 | 2,227,000 |
Insurance Note Payable | 433,000 | 83,000 |
Long-Term Debt | 437,000 | 5,461,000 |
Tenant Improvement Loan | 108,000 | 126,000 |
ICS Promissory Note | 329,000 | 446,000 |
Digital Ignition Buliding Loan | — | 4,925,000 |
Deferred Tax Liabilities, Current | 2,735,000 | 3,075,000 |
Other Non-Operating Current Liabilities | 5,142,000 | 6,799,000 |
Other Non-Operating Non-Current Liabilities | 90,000 | 102,000 |
Total liabilities | 37,968,000 | 25,136,000 |
Equity Method Investments | 61,000 | — |
SHAREHOLDERS’ EQUITY | ||
Preferred Stock | 22,365,000 | — |
Total Stockholders' Equity | 29,000 | 225,000 |
Total Stockholders' Equity | 50,004,000 | 55,856,000 |
Total Stockholders' Equity | (8,390,000) | 2,336,000 |
Treasury stock, 2,794,472 shares at cost as of December 31, 2023 | — | 18,586,000 |
Total Stockholders' Equity | (5,268,000) | (4,682,000) |
Total Fundamental Global stockholders’ equity | 58,740,000 | 35,149,000 |
Noncontrolling Interest | 1,696,000 | 1,858,000 |
Total stockholders’ equity | 60,436,000 | 37,007,000 |
Preferred Stock | 22,365,000 | — |
Common Stock | 29,000 | 225,000 |
Additional Paid-in Capital | 50,004,000 | 55,856,000 |
Retained Earnings | (8,390,000) | 2,336,000 |
Treasury Stock, Common | — | (18,586,000) |
AOCI Attributable to Parent | (5,268,000) | (4,682,000) |
Parent | 58,740,000 | 35,149,000 |
Noncontrolling Interest | 1,696,000 | 1,858,000 |
Total liabilities and stockholders’ equity | 98,404,000 | 62,143,000 |