10-Q
Quarterly Report
TRUGOLF HOLDINGS, INC.
TRUG
NASDAQ
CIK: 1857086
File #: 001-40970
Balance Sheet
59 line items · 2 periods
XBRL
| Item | Sep 30, 2024 | Dec 31, 2023 |
|---|---|---|
ASSETS | ||
Current assets: | ||
Cash and Cash Equivalents | 7,452,185 | 3,297,564 |
Other Current Assets | — | 2,100,000 |
Cash and Cash Equivalents | — | 2,478,953 |
Accounts Receivable | 4,542,097 | 2,398,872 |
Inventory | 2,324,230 | 2,119,084 |
Other Non-Operating Current Assets | 99,032 | 262,133 |
Total current assets | 14,417,544 | 12,656,606 |
Property, Plant and Equipment | 131,581 | 234,308 |
Capitalized software development costs, net | 1,738,417 | — |
Operating Lease Right-of-Use Asset | 721,051 | 972,663 |
Other Non-Operating Non-Current Assets | 31,097 | 1,905,983 |
Security Deposit Ethos Management Loan | — | 1,875,000 |
Security Deposits Leased Facilities | 31,023 | 30,983 |
Total assets | 17,039,690 | 15,769,560 |
LIABILITIES AND STOCKHOLDERS’ DEFICIT | ||
Current liabilities: | ||
Accounts Payable | 2,288,208 | 2,059,771 |
Other Current Liabilities | 4,600,105 | 1,704,224 |
Other Current Liabilities | 575,000 | — |
Nonrelated Party | 9,854 | 9,425 |
Related Party | 1,937,000 | 1,237,000 |
Chief Executive Officer | 1,000,000 | — |
Short-Term Debt | 802,738 | 802,738 |
Morgan Stanley | 10,114 | 1,980,937 |
JP Morgan Chase Bank | — | 2,000,000 |
Margin line of credit account | — | 1,980,937 |
Short-Term Debt | 954,622 | 954,622 |
Notes payable assumed in Merger | 1,465,000 | — |
Other Non-Operating Current Liabilities | 1,649,341 | 459,872 |
Other Non-Operating Current Liabilities | 1,201,071 | 1,125,495 |
Accrued and other current liabilities - assumed in Merger | 295,008 | — |
Operating Lease Liability, Current | 375,660 | 334,255 |
Total current liabilities | 16,153,607 | 10,668,339 |
Non-current liabilities: | ||
Nonrelated Party | 12,290 | 2,402,783 |
Related Party | 874,000 | 861,000 |
Long-Term Debt | 4,232,448 | — |
Dividend notes payable | 4,023,923 | 4,023,923 |
Gross sales royalty payable | 1,000,000 | 1,000,000 |
Operating Lease Liability, Non-Current | 380,386 | 668,228 |
Other Non-Operating Non-Current Liabilities | 589,619 | 63,015 |
Total liabilities | 27,266,273 | 19,687,288 |
Stockholders’ deficit: | ||
Series A Common Stock | 1,189 | 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 | 7,100,503 | 10,479,738 |
Total Stockholders' Equity | — | (1,662) |
Total Stockholders' Equity | (15,291,447) | (12,358,924) |
Total stockholders’ deficit | (10,226,583) | (3,917,728) |
Series A Common Stock - Common Stock | 1,189 | 120 |
Series B Common Stock - Common Stock | 172 | — |
Treasury Stock, Common | (2,037,000) | (2,037,000) |
Additional Paid-in Capital | 7,100,503 | 10,479,738 |
AOCI Attributable to Parent | 0 | (1,662) |
Retained Earnings | (15,291,447) | (12,358,924) |
Total liabilities and stockholders’ deficit | 17,039,690 | 15,769,560 |