0001477932-23-001048.txt : 20230215 0001477932-23-001048.hdr.sgml : 20230215 20230215064931 ACCESSION NUMBER: 0001477932-23-001048 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20230214 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20230215 DATE AS OF CHANGE: 20230215 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UPEXI, INC. CENTRAL INDEX KEY: 0001775194 STANDARD INDUSTRIAL CLASSIFICATION: MEDICINAL CHEMICALS & BOTANICAL PRODUCTS [2833] IRS NUMBER: 833378978 STATE OF INCORPORATION: NV FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-40535 FILM NUMBER: 23633572 BUSINESS ADDRESS: STREET 1: 17129 US HWY 19 N. CITY: CLEARWATER STATE: FL ZIP: 33760 BUSINESS PHONE: 701-353-5425 MAIL ADDRESS: STREET 1: 17129 US HWY 19 N. CITY: CLEARWATER STATE: FL ZIP: 33760 FORMER COMPANY: FORMER CONFORMED NAME: GROVE, INC. DATE OF NAME CHANGE: 20190429 8-K 1 upxi_8k.htm FORM 8-K upxi_8k.htm

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________

 

FORM 8-K

_________________

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): February 14, 2023

_______________________________

 

UPEXI, INC.

(Exact name of registrant as specified in its charter)

_______________________________

 

Nevada

 

333-25526

 

83-3378978

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

 

17129 US Hwy 19 N.

Clearwater, FL 33760

(Address of Principal Executive Offices) (Zip Code)

 

(701) 353-5425

(Registrant's telephone number, including area code)

 

Not Applicable

(Former name or former address, if changed since last report)

_______________________________

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading Symbol(s)

 

Name of each exchange on which registered

Common Stock, par value $0.001

 

UPXI

 

NASDAQ

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 

 

Section 2 – Financial Information

 

Item 2.02 Results of Operations and Financial Condition.

 

On February 14, 2023, Upexi, Inc. (the “Company”) issued a press release announcing financial and operational results and business highlights for the three and six months ended December 31, 2022 (the “Press Release”). A copy of the Press Release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

In accordance with General Instruction B.2 of Form 8-K, the information in this Form 8-K (including Exhibit 99.1) is being “furnished,” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section nor shall they be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

 

Section 9 – Financial Statements and Exhibits

 

Item 9.01 Financial Statements and Exhibits.

 

Exhibit No.

Exhibit Description

99.1

Press Release of Upexi, Inc., dated February 14, 2023

104

 

Cover Page Interactive Data File (embedded within the Inline XBRL Document).

 

 

2

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

UPEXI, INC.

 

 

 

 

Dated: February 15, 2023

/s/ Andrew J. Norstrud

 

 

Name: Andrew J. Norstrud

 

 

Title: Chief Financial Officer

 

 

 

3

 

EX-99.1 2 upxi_ex991.htm PRESS RELEASE upxi_ex991.htm

EXHIBIT 99.1

 

Upexi Reports Record Revenue of $27.1 Million for Fiscal 2023

Second Quarter, an Increase of 444% Year-Over-Year

 

HENDERSON, NV, February 14, 2023 (GLOBE NEWSWIRE) – Upexi, Inc. (NASDAQ: UPXI) (the “Company” or “Upexi”), a multi-faceted Amazon and Direct to Consumer brand owner and innovator in aggregation, today announced its financial results for the fiscal 2023 second quarter ending December 31, 2022.

 

Fiscal 2023 Second Quarter Financial Highlights:

 

 

·

Revenue totaled $27.1 million, an increase of 444% year-over-year, and an increase of 134% sequentially.

 

·

Gross profit totaled $10.3 million, an increase of $6 million or an increase of 141% year-over-year and an increase of 71% sequentially.

 

·

Adjusted EBITDA for the quarter totaled $119,054 as compared to an adjusted EBITDA loss of $1.3 million year over year, and an improvement of $1.1 million over the prior quarter.

 

·

Net Income from continued operations attributable to Upexi, Inc. shareholders was $2.7 million, as compared to a net loss of approximately $258,247 for the same period in the prior year. This includes a one-time gain of $7.6 million as a result of the sale of Infusionz and select assets.

 

·

Shareholder equity increased $8.2 million to $36.9 million as of December 31, 2022, as compared to $28.7 million as of June 30, 2022.

 

·

Cash and cash equivalents totaled $4.5 million as of December 31, 2022.

 

 

 

“The strategic measures we have taken during the last nine months have resulted in record revenue and positive Adjusted EBITDA for our fiscal 2023 second quarter,” stated Allan Marshall, Upexi Chief Executive Officer. “During that period we divested our select CBD operations and focused our resources on our diverse business mix of non-discretionary brands in health, wellness, pet, toys, and liquidation in wholesale, DTC and Amazon.”

 

Mr. Marshall continued, “During the quarter we transitioned sequentially from an Adjusted EBITDA loss to positive Adjusted EBITDA. Throughout the remainder of calendar 2023 we expect to see further efficiency in our operations, which will drive higher EBITDA margins. The business is well positioned to meet our projected revenue goal of $100 million for calendar 2023 and we expect EBITDA margins to increase steadily throughout the calendar year to trend towards 8% to 12% by end of year.”

 

 

 

 

Fiscal 2023 Second Quarter and Subsequent Operational Highlights:

 

 

·

Tytan Tiles launched branded Amazon storefront and into over 2,000 Walmart storefronts.

 

·

Eliminated outstanding balance of $15 million senior secured debt.

 

·

Closed acquisition of E-Core and subsidiaries, Tytan Products and New England Technology, Inc.

 

·

Sold select CBD assets for $23.5 million.

 

·

Filed new patent through the Company’s Ad Tech Division, Interactive Offers.

 

 

 

Financial Highlights for Fiscal 2023 Second Quarter

 

Revenue for the three months ended December 31, 2022 totaled $27.1 million, an increase of 444% as compared to $4.9 million for the same period the year prior. Revenue growth was predominantly driven by acquisitions as well as strong year-end sales in many of our brands including; E-core, Tytan Tiles, Vitamedica, and Cygnet Online, as well as strong sales from our pet product business, Lucky Tail.

 

Cost of revenue during the quarter totaled $16.8 million, compared to $.7 million for the same period the prior year. Gross profit for the quarter was $10.3 million, an increase of 141% as compared to $4.3 million for the same period in the prior year. Gross margins declined to 38%

 

Operating expenses totaled $12.5 million, an increase of 83% as compared to $6.8 million for the same period in the prior fiscal year.

 

The Company had a net loss from continued operations of $2.1 million for the three months ended December 31, 2022, representing a 16% improvement compared to the $2.5 million net loss for the same period the prior year.

 

The Company had cash of $4.5 million and stockholders' equity attributable to Upexi, In. stockholders of $36.9 million as of December 31, 2022. As of today, February 14, 2023, there are 17,960,748 shares of common stock outstanding.

 

Financial Results Conference Call

 

Event:

Fiscal 2023 Second Quarter Financial Results Conference Call

 

 

Date:

Tuesday, February 14, 2023

 

 

Time:

5:00 p.m. Eastern Time

 

 

Live Call:

1-877-407-9716 (U.S. Toll-Free) or 1-201-493-6779 (International)

 

 

Webcast:

https://viavid.webcasts.com/starthere.jsp?ei=1596499&tp_key=f546e66677

 

For those unable to join the conference call, a dial-in replay of the call will be available until February 28, 2023 and can be accessed by dialing +1-844-512-2921 (U.S. Toll Free) or +1-412-317-6671 (International) and entering replay pin number: 13736086.

 

 
2

 

 

Additional details are available under the Investor Relations section of the Company’s website: https://upexi.com/investors.

 

About Upexi, Inc.:

Upexi is a multi-faceted brand owner with established brands in the health, wellness, pet, beauty and other growing markets. We operate in emerging industries with high growth trends and look to drive organic growth of our current brands. We focus on direct to consumer and Amazon brands that are scalable and have anticipated, high industry growth trends. Our goal is to continue to accumulate consumer data and build out a significant customer database across all industries we sell into. The growth of our current database has been key to the year over year gains in sales and profits. To drive additional growth, we have and will continue to acquire profitable Amazon and eCommerce businesses that can scale quickly and reduce costs through corporate synergies. We utilize our in-house, SaaS programmatic ad technology to help achieve a lower cost per acquisition and accumulate consumer data for increased cross-selling between our growing portfolio of brands.

 

FORWARD LOOKING STATEMENTS:

This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with business strategy, potential acquisitions, revenue guidance, product development, integration and synergies of acquiring companies and personnel. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

 

 
3

 

 

Use of Non-GAAP Financial Measures

 

The Company discloses and uses the above-mentioned non-GAAP financial measures internally as a supplement to GAAP financial information to evaluate its operating performance, for financial planning purposes, to establish operational goals, for compensation plans, to measure debt service capability, for capital expenditure planning and to determine working capital needs and believes that these are useful financial measures also used by investors. Non-GAAP adjusted EBITDA is defined as GAAP net income or net loss before interest, taxes, depreciation and amortization (EBITDA) adjusted for the non-cash stock compensation and stock option expense, acquisition, integration & restructuring expenses, charges and gains or losses from extinguishment of debt and other non-cash items. Non-GAAP EBITDA and non-GAAP adjusted EBITDA are not terms defined by GAAP and, as a result, the Company’s measure of non-GAAP EBITDA and non-GAAP adjusted EBITDA might not be comparable to similarly titled measures used by other companies. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flow that either excludes or includes amounts that are not normally included in the most directly comparable measure calculated and presented in accordance with GAAP. The non-GAAP financial measures discussed above, however, should be considered in addition to, and not as a substitute for, or superior to net income or net loss as reported for GAAP on the Consolidated Statements of Operations, cash and cash flows on the Consolidated Statement of Cash Flows or other measures of financial performance prepared in accordance with GAAP, and as reflected on the Company’s financial statements prepared in accordance with GAAP. These non-GAAP financial measures are not a substitute for or presented in lieu of financial measures provided by GAAP and all measures and disclosures of financial information pursuant to GAAP should be read to obtain a comprehensive and thorough understanding of the Company’s financial results. The reconciliations of non-GAAP EBITDA and non-GAAP adjusted EBITDA to GAAP operating income (loss) and/or GAAP net income (net loss) referred to in the highlights or elsewhere are provided in the schedules that are a part of this document.

 

Adjusted EBITDA

 

 

 

 

 

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

30-Sep-22

 

 

31-Dec-22

 

 

31-Dec-22

 

Net income (Net loss) GAAP

 

 

(2,597,515 )

 

 

2,669,679

 

 

 

72,164

 

Interest expense, net

 

 

435,826

 

 

 

1,790,147

 

 

 

2,225,973

 

Depreciation and amortization

 

 

1,075,393

 

 

 

1,204,628

 

 

 

2,280,021

 

Income Tax

 

 

(708,201 )

 

 

755,253

 

 

 

47,052

 

Stock Compensation

 

 

927,326

 

 

 

1,052,847

 

 

 

1,980,173

 

Gain on sale of asset

 

 

-

 

 

 

(7,564,363 )

 

 

(7,564,363 )

Change in derivative liability

 

 

(1,770 )

 

 

3,540

 

 

 

1,770

 

Loss from discontinued operations

 

 

45,511

 

 

 

292,907

 

 

 

338,418

 

Loss attributable to non-controlling interest

 

 

(148,005 )

 

 

(85,581 )

 

 

(233,586 )

 

 

 

(971,435 )

 

 

119,057

 

 

 

(852,378 )

 

Company Contact

Andrew Norstrud, Chief Financial Officer

Email: andrew.norstrud@upexi.com

Phone: (702) 332-5591

 

Investor Relations Contact

KCSA Strategic Communications

Valter Pinto or Jack Perkins

Email: Upexi@KCSA.com

Phone: (212) 896-1254

 

 
4

 

 

UPEXI, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

 

 

 

 

 

 

 

 

 

 

 

Three Month's Ended

December 31,

 

 

Six Month's Ended

December 31,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$ 27,086,672

 

 

$ 4,983,557

 

 

$ 38,643,683

 

 

$ 8,853,667

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of Revenue

 

 

16,773,493

 

 

 

711,246

 

 

 

22,289,773

 

 

 

1,982,975

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross profit

 

 

10,313,179

 

 

 

4,272,311

 

 

 

16,353,910

 

 

 

6,870,692

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales and marketing

 

 

3,707,925

 

 

 

1,735,194

 

 

 

5,733,385

 

 

 

2,735,258

 

Distribution costs

 

 

3,575,545

 

 

 

821,630

 

 

 

6,063,379

 

 

 

933,463

 

General and administrative expenses

 

 

2,910,655

 

 

 

3,003,919

 

 

 

5,409,524

 

 

 

4,586,351

 

Share-based compensation

 

 

1,052,847

 

 

 

852,455

 

 

 

1,980,173

 

 

 

1,479,293

 

Amortization of acquired intangible assets

 

 

962,077

 

 

 

236,001

 

 

 

1,842,973

 

 

 

304,835

 

Depreciation

 

 

242,551

 

 

 

159,073

 

 

 

437,048

 

 

 

246,579

 

 

 

 

12,451,600

 

 

 

6,808,272

 

 

 

21,466,482

 

 

 

10,285,779

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from operations

 

 

(2,138,421 )

 

 

(2,535,960 )

 

 

(5,112,572 )

 

 

(3,415,086 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income (expense), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest (expense) income, net

 

 

(1,790,144 )

 

 

(48,541 )

 

 

(2,225,973 )

 

 

(41,994 )

Change in derivative liability

 

 

(3,540 )

 

 

-

 

 

 

(1,770 )

 

 

-

 

Gain on sale of Infusionz and select assets

 

 

7,564,363

 

 

 

-

 

 

 

7,564,363

 

 

 

-

 

Gain on SBA PPP loan extinguishment

 

 

-

 

 

 

-

 

 

 

-

 

 

 

300,995

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income (expense), net

 

 

5,770,679

 

 

 

(48,541 )

 

 

5,336,620

 

 

 

259,001

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) on operations before income tax

 

 

3,632,258

 

 

 

(2,584,501 )

 

 

224,048

 

 

 

(3,156,085 )

Income tax expense

 

 

(755,253 )

 

 

(493,936 )

 

 

(47,052 )

 

 

(235,033 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) from continuing operations

 

 

2,877,005

 

 

 

(3,078,437 )

 

 

176,996

 

 

 

(3,391,118 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) income from discontinued operations

 

 

(292,907 )

 

 

2,820,190

 

 

 

(338,418 )

 

 

3,967,662

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss attributable to non-controlling interest

 

 

(85,581 )

 

 

-

 

 

 

(233,586 )

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to Upexi, Inc.

 

$ 2,669,679

 

 

$ (258,247 )

 

$ 72,164

 

 

$ 576,544

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) per share from continuing operations

 

$ 0.16

 

 

$ (0.32 )

 

$ 0.01

 

 

$ (0.22 )

(Loss) income per share from discontinued operations

 

$ (0.02 )

 

$ 0.29

 

 

$ (0.02 )

 

$ 0.26

 

Total income (loss) per share

 

$ 0.16

 

 

$ (0.32 )

 

$ 0.01

 

 

$ (0.22 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) per share from continuing operations

 

$ 0.15

 

 

$ (0.32 )

 

$ 0.01

 

 

$ (0.20 )

(Loss) income per share from discontinued operations

 

$ (0.02 )

 

$ 0.29

 

 

$ (0.02 )

 

$ 0.23

 

Total income (loss) per share

 

$ 0.15

 

 

$ (0.32 )

 

$ 0.01

 

 

$ (0.20 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

 

 

17,540,427

 

 

 

9,755,663

 

 

 

17,126,886

 

 

 

15,452,453

 

Fully diluted weighted average shares outstanding

 

 

19,030,705

 

 

 

9,755,663

 

 

 

18,617,164

 

 

 

17,220,564

 

 

 
5

 

 

UPEXI, INC.

CONDENSED CONSOLDIATED BALANCE SHEETS (UNAUDITED)

 

 

 

 

 

 

 

 

 

December 31,

 

 

June 30,

 

 

 

2022

 

 

2022

 

 

 

 

 

 

 

 

ASSETS

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

Cash

 

$ 4,508,161

 

 

$ 7,149,806

 

Accounts receivable

 

 

8,869,297

 

 

 

1,137,637

 

Inventory

 

 

6,779,997

 

 

 

4,725,685

 

Deferred tax asset, current

 

 

-

 

 

 

462,070

 

Prepaid expenses and other receivables

 

 

1,967,088

 

 

 

840,193

 

Assets of discontinued operations, net

 

 

-

 

 

 

6,449,210

 

Total current assets

 

 

22,124,543

 

 

 

20,764,601

 

 

 

 

 

 

 

 

 

 

Property and equipment, net

 

 

7,231,404

 

 

 

7,343,783

 

Intangible assets, net

 

 

18,712,409

 

 

 

10,641,382

 

Goodwill

 

 

15,342,089

 

 

 

5,887,393

 

Deferred tax asset

 

 

2,479,918

 

 

 

2,002,759

 

Investments - Bloomios

 

 

10,081,255

 

 

 

-

 

Other assets

 

 

56,703

 

 

 

100,372

 

Right-of-use asset

 

 

608,488

 

 

 

926,570

 

Total other assets

 

 

54,512,266

 

 

 

26,902,259

 

 

 

 

 

 

 

 

 

 

Total assets

 

$ 76,636,809

 

 

$ 47,666,860

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS' EQUITY

 

 

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

 

 

Accounts payable

 

$ 4,162,121

 

 

$ 2,018,541

 

Accrued compensation

 

 

718,764

 

 

 

531,259

 

Deferred revenue

 

 

31,724

 

 

 

105,848

 

Accrued liabilities

 

 

3,898,318

 

 

 

955,327

 

Acquisition payable

 

 

3,978,523

 

 

 

-

 

Current portion of notes payable

 

 

2,117,683

 

 

 

5,424,752

 

Current portion of operating lease payable

 

 

187,777

 

 

 

267,029

 

Total current liabilities

 

 

15,094,910

 

 

 

9,302,756

 

 

 

 

 

 

 

 

 

 

Operating lease payable, net of current portion

 

 

375,552

 

 

 

700,411

 

Notes payable, net of current portion

 

 

24,420,152

 

 

 

8,876,949

 

Total long-term liabilities

 

 

24,795,704

 

 

 

9,577,360

 

 

 

 

 

 

 

 

 

 

Commitments and contingencies

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

Stockholders' equity

 

 

 

 

 

 

 

 

Preferred stock, $0.001 par value, 100,000,000 shares authorized, and 500,000 and 500,000 shares issued and outstanding, respectively

 

 

500

 

 

 

500

 

Common stock, $0.001 par value, 100,000,000 shares authorized, and 17,960,748 and 16,713,345 shares issued and outstanding, respectively

 

 

17,960

 

 

 

16,713

 

Additional paid in capital

 

 

43,105,223

 

 

 

34,985,597

 

Accumulated deficit

 

 

(6,198,722 )

 

 

(6,270,886 )

Total stockholders' equity attributable to Upexi, Inc.

 

 

36,924,961

 

 

 

28,731,924

 

Non-controlling interest in subsidiary

 

 

(178,766 )

 

 

54,820

 

Total stockholders' equity

 

 

36,746,195

 

 

 

28,786,744

 

 

 

 

 

 

 

 

 

 

Total liabilities and stockholders' equity

 

$ 76,636,809

 

 

$ 47,666,860

 

 

 
6

 

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Cover
Feb. 14, 2023
Cover [Abstract]  
Entity Registrant Name UPEXI, INC.
Entity Central Index Key 0001775194
Document Type 8-K
Amendment Flag false
Entity Emerging Growth Company true
Document Period End Date Feb. 14, 2023
Entity Ex Transition Period false
Entity Incorporation State Country Code NV
Entity File Number 333-25526
Entity Tax Identification Number 83-3378978
Entity Address Address Line 1 17129 US Hwy 19 N
Entity Address City Or Town Clearwater
Entity Address State Or Province FL
Entity Address Postal Zip Code 33760
City Area Code 701
Local Phone Number 353-5425
Written Communications false
Soliciting Material false
Pre Commencement Tender Offer false
Pre Commencement Issuer Tender Offer false
Security 12b Title Common Stock, par value $0.001
Trading Symbol UPXI
Security Exchange Name NASDAQ
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