10-Q
Quarterly Report
TRUGOLF HOLDINGS, INC.
TRUG
NASDAQ
CIK: 1857086
File #: 001-40970
Balance Sheet
49 line items · 2 periods
XBRL
| Item | Sep 30, 2025 | Dec 31, 2024 |
|---|---|---|
ASSETS | ||
Current Assets: | ||
Cash and Cash Equivalents | 11,435,121 | 8,782,077 |
Other Current Assets | 2,100,000 | 2,100,000 |
Accounts Receivable | 2,246,756 | 1,399,153 |
Inventory | 2,675,839 | 2,349,345 |
Other Non-Operating Current Assets | 701,123 | 116,619 |
Other Non-Operating Current Assets | — | 45,737 |
Total Current Assets | 19,158,839 | 14,792,931 |
Property, Plant and Equipment | 246,349 | 143,852 |
Capitalized software development costs, net | 3,183,751 | 1,540,121 |
Operating Lease Right-of-Use Asset | 364,253 | 634,269 |
Other Non-Operating Non-Current Assets | 31,023 | 31,023 |
Total Assets | 22,984,215 | 17,142,196 |
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | ||
Current Liabilities: | ||
Accounts Payable | 2,813,124 | 2,819,702 |
Other Current Liabilities | 6,186,620 | 3,113,010 |
Nonrelated Party | 10,573 | 10,001 |
Related Party | 2,668,500 | 2,937,000 |
Short-Term Debt | 802,738 | 802,738 |
Dividend notes payable | 118,362 | 4,023,923 |
Other Non-Operating Current Liabilities | 600,233 | 661,376 |
Other Non-Operating Current Liabilities | 1,594,330 | 999,307 |
Accrued and other current liabilities - assumed in Merger | 45,008 | 45,008 |
Operating Lease Liability, Current | 159,834 | 363,102 |
Total Current Liabilities | 14,999,322 | 15,775,167 |
Non-current Liabilities: | ||
Nonrelated Party | 1,716 | 9,732 |
Related Party | 505,500 | 624,000 |
Total PIPE Convertible Notes, net | — | 4,068,953 |
Gross sales royalty payable | 1,000,000 | 1,000,000 |
Operating Lease Liability, Non-Current | 220,551 | 305,125 |
Total Liabilities | 16,727,089 | 21,782,977 |
Stockholders’ Equity (Deficit): | ||
Series A Convertible Preferred Stock | 1 | — |
Series A Common Stock | 189 | 52 |
Series B Common Stock | 20 | 3 |
Treasury stock at cost, 94 shares of common stock held, respectively | 2,037,000 | 2,037,000 |
Total Stockholders' Equity | 45,111,416 | 18,551,660 |
Total Stockholders' Equity | (36,817,500) | (21,155,496) |
Total Stockholders’ Equity (Deficit) | 6,257,126 | (4,640,781) |
Series A Preferred Stock - Preferred Stock | 1 | — |
Common Class A - Common Stock | 189 | 52 |
Common Class B - Common Stock | 20 | 3 |
Treasury Stock, Common | (2,037,000) | (2,037,000) |
Additional Paid-in Capital | 45,111,416 | 18,551,660 |
Retained Earnings | (36,817,500) | (21,155,496) |
Total Liabilities and Stockholders’ Equity (Deficit) | 22,984,215 | 17,142,196 |