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Consolidated Balance Sheets - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Current assets    
Cash $ 6,060,228 $ 8,958,995
Royalty receivable 49,344 99,594
Inventory, net 4,420,864 3,549,000
Prepaid and other assets 485,734 1,104,611
Total current assets 18,177,937 20,616,509
Long-term assets    
Property and equipment, net 1,240,269 1,416,436
Right of use assets – operating leases 2,030,938 806,402
Goodwill 3,601,781 3,601,781
Intangible assets, net 30,143,578 31,509,980
Investment in equity securities 3,084,278 3,084,278
Total long-term assets 40,100,844 40,418,877
Total assets 58,278,781 61,035,386
Current liabilities    
Accrued royalties and expenses 1,895,706 2,144,475
Accrued bonuses and commissions 5,899,255 7,758,284
Earnout liabilities – current 700,000 1,162,880
Operating lease liabilities – current 273,539 313,933
Total current liabilities 9,881,336 12,806,309
Long-term liabilities    
Earnout liabilities – long-term 5,653,534 6,003,811
Operating lease liabilities – long-term 1,779,413 505,291
Total long-term liabilities 7,432,947 6,509,102
Total liabilities 17,314,283 19,315,411
Commitments and contingencies (Note 8)
Shareholders’ equity    
Common Stock: $0.001 par value, 20,000,000 shares authorized; 8,439,745 issued and outstanding as of June 30, 2023 and 8,299,957 issued and outstanding as of December 31, 2022 8,440 8,300
Additional paid-in capital 67,881,419 65,213,987
Accumulated deficit (26,740,930) (23,394,757)
Total Sanara MedTech shareholders’ equity 41,148,929 41,827,530
Equity attributable to noncontrolling interest (184,431) (107,555)
Total shareholders’ equity 40,964,498 41,719,975
Total liabilities and shareholders’ equity 58,278,781 61,035,386
Nonrelated Party [Member]    
Current assets    
Accounts receivable 7,141,105 6,805,761
Current liabilities    
Accounts payable 1,016,180 1,392,701
Related Party [Member]    
Current assets    
Accounts receivable 20,662 98,548
Current liabilities    
Accounts payable $ 96,656 $ 34,036