Full Press Release Details
PRO FORMA BALANCE SHEET
cosm_ex991.htm EXHIBIT 99.1
| COSMOS HOLDINGS, INC. |
| CONDENSED CONSOLIDATED BALANCE SHEETS |
| September 30, 2021 | ||||
| (Unaudited) | ||||
| ASSETS | ||||
| CURRENT ASSETS: | ||||
| Cash and cash equivalents | $ | 5,979,546 | ||
| Accounts receivable, net | 28,341,724 | |||
| Accounts receivable - related party | 3,050,283 | |||
| Marketable securities | 216,561 | |||
| Inventory | 3,716,251 | |||
| Prepaid expenses and other current assets | 5,689,116 | |||
| Prepaid expenses and other current assets - related party | 2,831,728 | |||
| Operating lease right-of-use asset | 960,026 | |||
| Financing lease right-of-use asset | 237,167 | |||
| TOTAL CURRENT ASSETS | 51,022,402 | |||
| Property and equipment, net | 2,061,841 | |||
| Goodwill and intangible assets, net | 218,475 | |||
| Other assets | 763,910 | |||
| Deferred tax assets | 286,555 | |||
| TOTAL ASSETS | $ | 54,353,183 | ||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||
| CURRENT LIABILITIES: | ||||
| Accounts payable and accrued expenses | $ | 14,161,588 | ||
| Accounts payable and accrued expenses - related party | 181,203 | |||
| Accrued interest | 719,332 | |||
| Customer advances | 48,972 | |||
| Convertible notes payable | 926,624 | |||
| Derivative liability - convertible note | 234,978 | |||
| Notes payable | 6,413,150 | |||
| Notes payable - related party | 440,366 | |||
| Lines of credit | 5,151,825 | |||
| Loans payable - related party | 708,344 | |||
| Taxes payable | 760,932 | |||
| Operating lease liability, current portion | 172,530 | |||
| Financing lease liability, current portion | 96,323 | |||
| Other current liabilities | 498,248 | |||
| TOTAL CURRENT LIABILITIES | 30,514,415 | |||
| Share settled debt obligation | 1,554,590 | |||
| Notes payable - long term portion | 10,124,779 | |||
| Operating lease liability, net of current portion | 773,099 | |||
| Financing lease liability, net of current portion | 157,537 | |||
| Other liabilities | 103,365 | |||
| TOTAL LIABILITIES | $ | 43,227,785 | ||
| STOCKHOLDERS' EQUITY: | ||||
| Preferred stock, $0.001 par value; 100,000,000 shares authorized; 1,250,000 shares issued and outstanding as of September 30, 2021 | 1,250 | |||
| Common stock, $0.001 par value; 300,000,000 shares authorized; 17,627,843 shares issued as of September 30, 2021 | 17,628 | |||
| Additional paid-in capital | 36,255,189 | |||
| Treasury stock, 350,328 and 415,328 shares as of September 30, 2021 | (611,204 | ) | ||
| Accumulated deficit | (24,902,167 | ) | ||
| Accumulated other comprehensive income | 364,702 | |||
| TOTAL STOCKHOLDERS' EQUITY | 11,125,398 | |||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 54,353,183 |