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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash $ 14,792,000 $ 9,581,000
Accounts receivable, net 36,281,000 24,850,000
Accounts receivable - related parties 249,000 1,269,000
Inventories 102,690,000 58,535,000
Advances to suppliers - related parties 0 197,000
Other current assets 5,559,000 4,613,000
TOTAL CURRENT ASSETS 159,571,000 99,045,000
Property and equipment, net 145,908,000 142,708,000
Operating lease right-of-use assets 11,664,000 1,457,000
Long-term investments 2,462,000 2,377,000
Customer relationships, net 159,161,000 149,914,000
Trademarks and other intangibles, net 35,891,000 25,884,000
Goodwill 80,257,000 68,512,000
Other long-term assets 2,032,000 694,000
TOTAL ASSETS 596,946,000 490,591,000
CURRENT LIABILITIES:    
Checks issued not presented for payment 17,834,000 14,840,000
Line of credit 55,293,000 18,279,000
Accounts payable 57,745,000 27,331,000
Accounts payable - related parties 1,941,000 2,306,000
Current portion of long-term debt, net 5,557,000 5,641,000
Current portion of obligations under finance leases 2,274,000 2,006,000
Current portion of obligations under operating leases 2,482,000 470,000
Accrued expenses and other liabilities 12,138,000 8,854,000
TOTAL CURRENT LIABILITIES 155,264,000 79,727,000
Long-term debt, net of current portion 81,811,000 88,009,000
Promissory note payable - related party 4,500,000 7,000,000
Obligations under finance leases, non-current 11,676,000 5,012,000
Obligations under operating leases, non-current 9,251,000 996,000
Deferred tax liabilities 39,455,000 46,325,000
TOTAL LIABILITIES 301,957,000 227,069,000
COMMITMENTS AND CONTINGENCIES (NOTE 18)
SHAREHOLDERS’ EQUITY:    
Preferred Stock, $0.0001 par value, 1,000,000 shares authorized, no shares issued and outstanding as of December 31, 2021 and December 31, 2020 0 0
Common Stock, $0.0001 par value, 100,000,000 shares authorized, 53,706,392 shares issued and outstanding as of December 31, 2021 and 51,913,411 shares issued and outstanding as of December 31, 2020 5,000 5,000
Additional paid-in capital 597,227,000 587,579,000
Accumulated deficit (306,284,000) (328,429,000)
TOTAL SHAREHOLDERS’ EQUITY ATTRIBUTABLE TO HF FOODS GROUP INC. 290,948,000 259,155,000
Noncontrolling interests 4,041,000 4,367,000
TOTAL SHAREHOLDERS’ EQUITY 294,989,000 263,522,000
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 596,946,000 $ 490,591,000