10-Q
Quarterly Report
1847 HOLDINGS LLC
EFSH
NYSE
CIK: 1599407
File #: 001-41368
Balance Sheet
83 line items · 2 periods
XBRL
| Item | Sep 30, 2024 | Dec 31, 2023 |
|---|---|---|
Current Assets | ||
Cash and cash equivalents | 1,517,191 | 673,445 |
Restricted cash | 8,700,000 | — |
Receivables, net | 1,828,116 | 1,697,635 |
Contract assets | 57,852 | 80,398 |
Inventories, net | 684,895 | 1,395,026 |
Prepaid expenses and other current assets | 703,059 | 771,364 |
Prepaid Expenses and Other Current Assets | 703,059 | 771,364 |
Current assets of discontinued operations | — | 14,096,764 |
Asien’s Assignment for the Benefit of Creditors | — | 1,939,951 |
ICU Eyewear Foreclosure Sale | — | 6,734,826 |
Sale of High Mountain | — | 5,421,987 |
Total Current Assets | 13,491,113 | 18,714,632 |
Construction - Corporate Segment | 1,795,127 | — |
Retail and Eyewear - Corporate Segment | 1,611,528 | — |
Corporate Services - Corporate Segment | 10,084,458 | — |
Corporate Segment | 13,491,113 | — |
Property and equipment, net | 743,235 | 1,062,327 |
Property, Plant and Equipment | 743,235 | 1,062,327 |
Operating lease right-of-use assets | 594,738 | 907,748 |
Long-term deposits | 49,535 | 49,535 |
Intangible assets, net | 2,017,091 | 2,205,323 |
Goodwill | — | 679,175 |
Non-current assets of discontinued operations | — | 15,749,457 |
TOTAL ASSETS | 16,895,712 | 39,368,197 |
Construction - Corporate Segment | 5,108,393 | — |
Retail and Eyewear - Corporate Segment | 1,702,861 | — |
Corporate Services - Corporate Segment | 10,084,458 | — |
Corporate Segment | 16,895,712 | — |
Current Liabilities | ||
Accounts payable and accrued expenses | 4,957,013 | 3,971,797 |
Contract liabilities | 427,894 | 2,288,868 |
Related Party | 193,762 | 193,762 |
Current portion of operating lease liabilities | 436,253 | 435,280 |
Current portion of finance lease liabilities | 179,489 | 172,152 |
Current portion of notes payable, net | 11,288,901 | 2,481,783 |
Current portion of convertible notes payable, net | 724,281 | 2,418,275 |
Related Party | 578,290 | 578,290 |
Derivative liabilities | 544,000 | 1,389,203 |
Level 3 - Fair Value, Recurring | 544,000 | — |
Fair Value, Recurring | 544,000 | — |
Derivative Liabilities | 544,000 | 1,389,203 |
Warrant liabilities | 9,900 | — |
Current liabilities of discontinued operations | — | 14,209,813 |
Asien’s Assignment for the Benefit of Creditors | — | 3,097,215 |
ICU Eyewear Foreclosure Sale | — | 5,854,996 |
Sale of High Mountain | — | 5,257,602 |
Total Current Liabilities | 19,339,783 | 28,139,223 |
Operating lease liabilities, net of current portion | 198,747 | 523,768 |
Finance lease liabilities, net of current portion | 470,245 | 605,242 |
Notes payable, net of current portion | 9,700 | 24,245 |
Convertible notes payable, net of current portion | 22,790,057 | 23,052,078 |
Deferred tax liability, net | 360,000 | 409,000 |
Non-current liabilities of discontinued operations | — | 6,655,330 |
ICU Eyewear Foreclosure Sale | — | 1,459,184 |
Sale of High Mountain | — | 949,734 |
TOTAL LIABILITIES | 43,168,532 | 59,408,886 |
Shareholders’ Deficit | ||
Series A | 39,877 | 190,377 |
Series B | — | 240,499 |
Series C | 214,900 | — |
Series D | 600,100 | — |
Allocation shares, 1,000 shares authorized; 1,000 shares issued and outstanding as of September 30, 2024 and December 31, 2023 | 1,000 | 1,000 |
Common shares, $0.001 par value, 500,000,000 shares authorized; 45,692 and 9,554 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively | 46 | 10 |
Distribution receivable | 785,000 | 2,000,000 |
Manager’s Profit Allocation | 2,000,000 | — |
Amended Operating Agreement ] | 785,000 | — |
Additional paid-in capital | 62,943,899 | 57,677,097 |
Accumulated deficit | (87,485,047) | (74,835,392) |
TOTAL 1847 HOLDINGS SHAREHOLDERS’ DEFICIT | (24,470,225) | (18,726,409) |
NON-CONTROLLING INTERESTS | (1,802,595) | (1,314,280) |
TOTAL SHAREHOLDERS’ DEFICIT | (26,272,820) | (20,040,689) |
Series A - Preferred Stock | 39,877 | 190,377 |
Series B - Preferred Stock | — | 240,499 |
Series C - Preferred Stock | 214,900 | — |
Series D - Preferred Stock | 600,100 | — |
Allocation Shares | 1,000 | 1,000 |
Common shares | 46 | 10 |
Distribution Receivable | (785,000) | (2,000,000) |
Additional Paid-In Capital | 62,943,899 | 57,677,097 |
Accumulated Deficit | (87,485,047) | (74,835,392) |
Non- Controlling Interests | (1,802,595) | (1,314,280) |
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT | 16,895,712 | 39,368,197 |