10-K
Annual Report
TRUGOLF HOLDINGS, INC.
TRUG
NASDAQ
CIK: 1857086
File #: 001-40970
Balance Sheet
60 line items · 2 periods
XBRL
| Item | Dec 31, 2024 | Dec 31, 2023 |
|---|---|---|
ASSETS | ||
Current Assets: | ||
Cash and Cash Equivalents | 10,882,077 | 3,297,564 |
Other Current Assets | — | 2,100,000 |
Cash and Cash Equivalents | — | 2,478,953 |
Corporate Fixed Income Securities | — | 452,682 |
Government Securities | — | 2,026,271 |
Accounts Receivable | 1,399,153 | 2,398,872 |
Inventory | 2,349,345 | 2,119,084 |
Other Non-Operating Current Assets | 116,619 | 262,133 |
Other Non-Operating Current Assets | 45,737 | — |
Total Current Assets | 14,792,931 | 12,656,606 |
Property, Plant and Equipment | 143,852 | 234,308 |
Capitalized software development costs, net | 1,540,121 | — |
Operating Lease Right-of-Use Asset | 634,269 | 972,663 |
Other Non-Operating Non-Current Assets | 31,023 | 1,905,983 |
Security Deposit Ethos Management Loan | — | 1,875,000 |
Security Deposits Leased Facilities | 31,023 | 30,983 |
Total Assets | 17,142,196 | 15,769,560 |
LIABILITIES AND STOCKHOLDERS’ DEFICIT | ||
Current Liabilities: | ||
Accounts Payable | 2,819,703 | 2,059,771 |
Other Current Liabilities | 3,113,010 | 1,704,224 |
Nonrelated Party | 10,001 | 9,425 |
Related Party | 2,937,000 | 1,237,000 |
Short-Term Debt | 802,738 | 802,738 |
JP Morgan Chase Bank | — | 2,000,000 |
Morgan Stanley | — | 1,980,937 |
Margin line of credit account | — | 1,980,937 |
Short-Term Debt | — | 954,622 |
Dividend notes payable | 4,023,923 | — |
Other Non-Operating Current Liabilities | 661,376 | 459,872 |
Other Non-Operating Current Liabilities | 999,307 | 1,125,495 |
Accrued and other current liabilities - assumed in Merger | 45,008 | — |
Operating Lease Liability, Current | 363,102 | 334,255 |
Total Current Liabilities | 15,775,168 | 10,668,339 |
Non-current Liabilities: | ||
Nonrelated Party | 9,732 | 2,402,783 |
Related Party | 624,000 | 861,000 |
Long-Term Debt | 4,068,953 | — |
Dividend notes payable | — | 4,023,923 |
Gross sales royalty payable | 1,000,000 | 1,000,000 |
Operating Lease Liability, Non-Current | 305,125 | 668,228 |
Other Non-Operating Non-Current Liabilities | — | 63,015 |
Total Liabilities | 21,782,978 | 19,687,288 |
Stockholders’ Deficit: | ||
Series A Common Stock | 2,612 | 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 | 18,548,931 | 10,479,738 |
Total Stockholders' Equity | — | (1,662) |
Total Stockholders' Equity | (21,155,496) | (12,358,924) |
Total Stockholders’ Deficit | (4,640,781) | (3,917,728) |
Common Class A - Common Stock | 2,612 | 120 |
Common Class B - Common Stock | 172 | — |
Treasury Stock, Common | (2,037,000) | (2,037,000) |
Additional Paid-in Capital | 18,548,931 | 10,479,738 |
AOCI Attributable to Parent | — | (1,662) |
Retained Earnings | (21,155,496) | (12,358,924) |
Total Liabilities and Stockholders’ Deficit | 17,142,196 | 15,769,560 |