10-Q
Quarterly Report
1847 HOLDINGS LLC
EFSH
NYSEAMER
CIK: 1599407
File #: 001-41368
Balance Sheet
52 line items · 2 periods
XBRL
| Item | Sep 30, 2023 | Dec 31, 2022 |
|---|---|---|
Current Assets | ||
Cash and cash equivalents | 2,056,751 | 1,079,355 |
Investments | 277,816 | 277,310 |
Receivables, net | 7,767,629 | 5,215,568 |
Contract assets | 34,211 | 89,574 |
Inventories, net | 13,957,173 | 4,184,019 |
Prepaid expenses and other current assets | 1,274,079 | 379,875 |
Total Current Assets | 25,367,659 | 11,225,701 |
Property and equipment, net | 2,211,600 | 1,885,206 |
Operating lease right-of-use assets | 4,310,916 | 2,854,196 |
Long-term deposits | 153,735 | 82,197 |
Intangible assets, net | 9,199,053 | 9,985,129 |
Goodwill | 19,452,270 | 19,452,270 |
TOTAL ASSETS | 60,695,233 | 45,484,699 |
Current Liabilities | ||
Accounts payable and accrued expenses | 13,816,421 | 6,741,769 |
Contract liabilities | 1,905,590 | 2,353,295 |
Customer deposits | 2,565,877 | 3,059,658 |
Related Party | 193,762 | 193,762 |
Current portion of operating lease liabilities | 1,075,151 | 713,100 |
Current portion of finance lease liabilities | 182,384 | 185,718 |
Current portion of notes payable, net | 1,877,409 | 551,210 |
Current portion of convertible notes payable, net | 1,447,427 | — |
Related Party | 362,779 | 362,779 |
Derivative liabilities | 1,322,624 | — |
Total Current Liabilities | 24,749,424 | 14,161,291 |
Operating lease liabilities, net of current portion | 3,366,728 | 2,237,797 |
Finance lease liabilities, net of current portion | 649,186 | 784,148 |
Notes payable, net of current portion | 303,498 | 144,830 |
Convertible notes payable, net | 25,245,621 | 24,667,799 |
Revolving line of credit, net | 3,311,558 | — |
Deferred tax liability, net | 584,000 | 599,000 |
TOTAL LIABILITIES | 58,210,015 | 42,594,865 |
Shareholders’ Equity | ||
Series A Senior | 190,377 | 1,338,746 |
Series B Senior | 240,499 | 1,214,181 |
Allocation shares, 1,000 shares authorized; 1,000 shares issued and outstanding as of September 30, 2023 and December 31, 2022 | 1,000 | 1,000 |
Common shares, $0.001 par value, 500,000,000 shares authorized; 3,088,319 and 174,249 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively | 3,088 | 174 |
Distribution receivable | 2,000,000 | 2,000,000 |
Additional paid-in capital | 57,312,780 | 43,966,511 |
Accumulated deficit | (53,255,900) | (41,919,277) |
TOTAL 1847 HOLDINGS SHAREHOLDERS’ EQUITY | 2,491,844 | 2,601,335 |
NON-CONTROLLING INTERESTS | (6,626) | 288,499 |
TOTAL SHAREHOLDERS’ EQUITY | 2,485,218 | 2,889,834 |
Series A Senior - Convertible Preferred Shares | 190,377 | 1,338,746 |
Series B Senior - Convertible Preferred Shares | 240,499 | 1,214,181 |
Common Stock | 3,088 | 174 |
Distribution Receivable | (2,000,000) | (2,000,000) |
Additional Paid-In Capital | 57,312,780 | 43,966,511 |
Accumulated Deficit | (53,255,900) | (41,919,277) |
Non- Controlling Interests | (6,626) | 288,499 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 60,695,233 | 45,484,699 |