10-Q
Quarterly Report
TRUGOLF HOLDINGS, INC.
TRUG
NASDAQ
CIK: 1857086
File #: 001-40970
Balance Sheet
57 line items · 2 periods
XBRL
| Item | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|
ASSETS | ||
Current assets: | ||
Cash and Cash Equivalents | 7,825,967 | 3,297,564 |
Other Current Assets | — | 2,100,000 |
Cash and Cash Equivalents | — | 2,478,953 |
Accounts Receivable | 1,930,450 | 2,398,872 |
Inventory | 2,335,653 | 2,119,084 |
Other Non-Operating Current Assets | 61,855 | 262,133 |
Total current assets | 12,153,925 | 12,656,606 |
Property, Plant and Equipment | 166,666 | 234,308 |
Other Non-Current Assets | 363,879 | — |
Operating Lease Right-of-Use Asset | 890,209 | 972,663 |
Other Non-Operating Non-Current Assets | 1,905,983 | 1,905,983 |
Total assets | 15,480,662 | 15,769,560 |
LIABILITIES AND STOCKHOLDERS’ DEFICIT | ||
Current liabilities: | ||
Accounts Payable | 3,206,118 | 2,059,771 |
Other Current Liabilities | 1,794,748 | 1,704,224 |
Nonrelated Party | 9,568 | 9,425 |
Related Party | 937,000 | 1,237,000 |
Short-Term Debt | 802,738 | 802,738 |
Morgan Stanley | 0 | 1,980,937 |
JP Morgan Chase | — | 257,113 |
JP Morgan Chase Bank | — | 2,000,000 |
Margin line of credit account | — | 1,980,937 |
Short-Term Debt | 954,622 | 954,622 |
Pipe Convertible Notes Payable - Convertible Notes Payable | 480,000 | — |
Other Non-Operating Current Liabilities | 542,631 | 459,872 |
Other Non-Operating Current Liabilities | 804,405 | 1,125,495 |
Accrued and other current liabilities - assumed in Merger | 295,008 | — |
Operating Lease Liability, Current | 347,809 | 334,255 |
Total current liabilities | 9,694,647 | 10,668,339 |
Non-current liabilities: | ||
Nonrelated Party | 2,400,345 | 2,402,783 |
Related Party | 892,500 | 861,000 |
Notes payable assumed in the Merger | 1,565,000 | — |
Long-Term Debt | 4,320,947 | — |
Dividend notes payable | 4,023,923 | 4,023,923 |
Gross sales royalty payable | 1,000,000 | 1,000,000 |
Operating Lease Liability, Non-Current | 574,363 | 668,228 |
Other Non-Operating Non-Current Liabilities | 81,560 | 63,015 |
Total liabilities | 24,553,285 | 19,687,288 |
Stockholders’ deficit: | ||
Series A Common Stock | 1,154 | 120 |
Series B Common Stock | 172 | — |
Treasury stock at cost, 4,692 shares of common stock held, respectively | 2,037,000 | 2,037,000 |
Total Stockholders' Equity | 6,623,839 | 10,479,738 |
Total Stockholders' Equity | — | (1,662) |
Total Stockholders' Equity | (13,660,788) | (12,358,924) |
Total stockholders’ deficit | (9,072,623) | (3,917,728) |
Series A Common Stock - Common Stock | 1,154 | 120 |
Series B Common Stock - Common Stock | 172 | — |
Treasury Stock, Common | (2,037,000) | (2,037,000) |
Additional Paid-in Capital | 6,623,839 | 10,479,738 |
AOCI Attributable to Parent | 0 | (1,662) |
Retained Earnings | (13,660,788) | (12,358,924) |
Total liabilities and stockholders’ deficit | 15,480,662 | 15,769,560 |