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Consolidated Balance Sheets - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Current assets    
Cash $ 16,143,080 $ 18,652,841
Accounts receivable, net of allowances of $88,310 and $99,278 3,409,048 2,861,014
Accounts receivable - related party 96,278 79,787
Royalty receivable 49,344 49,344
Inventory, net of allowance for obsolescence of $359,577 and $333,850 2,171,328 2,048,191
Prepaid and other assets 624,923 917,318
Total current assets 22,494,001 24,608,495
Long-term assets    
Property and equipment, net 1,578,973 1,629,845
Right of use assets – operating leases 355,081 412,770
Intangible assets, net 4,617,947 4,727,970
Investment in equity securities 4,887,718 5,017,351
Total long-term assets 11,439,719 11,787,936
Total assets 33,933,720 36,396,431
Current liabilities    
Accounts payable 929,374 438,154
Accounts payable – related parties 51,847 155,817
Accrued royalties and expenses 940,337 706,196
Accrued bonus and commissions 3,129,203 4,518,817
Operating lease liability - current 180,233 203,292
Total current liabilities 5,230,994 6,022,276
Long-term liabilities    
Operating lease liability – long term 187,040 222,151
Total long-term liabilities 187,040 222,151
Total liabilities 5,418,034 6,244,427
Commitments and contingencies (Note 6)
Shareholders’ equity    
Common Stock: $0.001 par value, 20,000,000 shares authorized; 7,810,395 issued and outstanding as of March 31, 2022 and 7,676,662 issued and outstanding as of December 31, 2021 7,810 7,677
Additional paid-in capital 47,438,466 45,867,768
Accumulated deficit (18,415,012) (15,235,044)
Total Sanara MedTech shareholders’ equity 29,031,264 30,640,401
Equity attributable to noncontrolling interest (515,578) (488,397)
Total shareholders’ equity 28,515,686 30,152,004
Total liabilities and shareholders’ equity $ 33,933,720 $ 36,396,431