v3.19.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 719,446 $ 2,052,731
Accounts receivable, net 2,653,408 1,877,351
Inventory 1,361,342 923,707
Prepaid expenses and other current assets 1,407,760 611,695
Income tax receivable 82,568  
Total current assets 6,224,524 5,465,484
Property and equipment, net 1,034,281 998,863
Right of use assets – operating leases, net 873,110 0
Intangible assets, net 12,423,885 12,687,731
Goodwill 9,736,510 9,736,510
Total assets 30,292,310 28,888,588
Current liabilities:    
Accounts payable 6,360,102 5,519,159
Accrued expenses and other current liabilities 1,646,776 1,135,551
Deferred revenues 175,956 175,956
Current portion of operating lease liabilities 263,532 0
Income tax payable 0 129,511
Line of credit, net of debt issuance costs of $27,252 and $31,145, respectively 520,662 531,804
Current portion of long-term debt, net of debt issuance costs of $129,471 and $0, respectively 744,255 313,572
Current portion of long-term debt - related parties 967,576 932,701
Due to related party 97,996 140,682
Total current liabilities 10,776,855 8,878,936
Contingent consideration 520,000 520,000
Operating lease liabilities, net of current portion 613,809 0
Long-term senior convertible debt – related parties, net of debt discount of $441,667 and $466,667 related to the conversion feature, respectively 986,494 961,494
Long-term debt, net of current portion 53,198 56,688
Long-term debt – related parties, net of current portion 2,469,352 2,531,490
Deferred tax liability 341 341
Total liabilities 15,420,049 12,948,949
Commitments and contingencies (Note 8)
Stockholders' equity    
Common stock, $0.001 par value, 250,000,000 shares authorized; 5,680,330 and 5,654,830 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively 5,680 5,655
Additional paid-in-capital 20,859,158 20,548,164
Accumulated deficit (7,001,046) (5,565,756)
Total stockholders' equity attributable to Edison Nation, Inc. 13,863,792 14,988,063
Noncontrolling interests 1,008,469 951,576
Total stockholders' equity 14,872,261 15,939,639
Total liabilities and stockholders' equity $ 30,292,310 $ 28,888,588

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