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Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current assets    
Cash $ 8,958,995 $ 18,652,841
Accounts receivable, net 6,805,761 2,861,014
Accounts receivable – related party 98,548 79,787
Royalty receivable 99,594 49,344
Inventory, net 3,549,000 2,048,191
Prepaid and other assets 1,104,611 917,318
Total current assets 20,616,509 24,608,495
Long-term assets    
Property and equipment, net 1,416,436 1,629,845
Right of use assets – operating leases 806,402 412,770
Goodwill 3,601,781
Intangible assets, net 31,509,980 4,727,970
Investment in equity securities 3,084,278 5,017,351
Total long-term assets 40,418,877 11,787,936
Total assets 61,035,386 36,396,431
Current liabilities    
Accounts payable 1,392,701 438,154
Accounts payable – related parties 34,036 155,817
Accrued royalties and expenses 2,144,475 706,196
Accrued bonuses and commissions 7,758,284 4,518,817
Earnout liabilities – current 1,162,880
Operating lease liabilities – current 313,933 203,292
Total current liabilities 12,806,309 6,022,276
Long-term liabilities    
Earnout liabilities – long-term 6,003,811
Operating lease liabilities – long-term 505,291 222,151
Total long-term liabilities 6,509,102 222,151
Total liabilities 19,315,411 6,244,427
Commitments and contingencies (Note 10)
Shareholders’ equity    
Common Stock: $0.001 par value, 20,000,000 shares authorized; 8,299,957 issued and outstanding as of December 31, 2022 and 7,676,662 issued and outstanding as of December 31, 2021 8,300 7,677
Additional paid-in capital 65,213,987 45,867,768
Accumulated deficit (23,394,757) (15,235,044)
Total Sanara MedTech shareholders’ equity 41,827,530 30,640,401
Equity (deficit) attributable to noncontrolling interest (107,555) (488,397)
Total shareholders’ equity 41,719,975 30,152,004
Total liabilities and shareholders’ equity $ 61,035,386 $ 36,396,431