v3.20.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 384,604 $ 412,719
Accounts receivable, net 3,145,530 2,108,099
Inventory 1,515,351 1,369,225
Prepaid expenses and other current assets 1,529,709 917,433
Income tax receivable 147,889 147,889
Total current assets 6,723,083 4,955,365
Property and equipment, net 1,012,375 931,968
Right of use assets - operating leases, net 505,933 732,100
Intangible assets, net 10,772,241 11,598,063
Goodwill 5,392,123 5,392,123
Total assets 24,405,755 23,609,619
Current liabilities:    
Accounts payable 3,024,689 7,397,650
Accrued expenses and other current liabilities 1,620,230 1,594,669
Deferred revenues 1,009,838 159,591
Current portion of operating lease liabilities 279,719 272,215
Income tax payable 8,151 22,919
Line of credit, net of debt issuance costs of $0 and $15,573, respectively 1,616,668 456,995
Current portion of convertible notes payable, net of debt issuance costs of $61,997 and $0, respectively 498,002
Current portion of notes payable, net of debt issuance costs of $148,278 and $212,848, respectively 821,092 1,365,675
Current portion of notes payable - related parties 1,214,698 1,686,352
Due to related party 22,005 17,253
Total current liabilities 10,115,092 12,973,319
Operating lease liabilities, net of current portion 255,100 482,212
Convertible notes payable - related parties, net of debt discount of $291,667 and $366,666 related to the conversion feature, respectively 1,136,495 1,061,495
Notes payable, net of current portion 821,271 42,492
Notes payable - related parties, net of current portion 1,452,815 1,595,669
Total liabilities 13,780,773 16,155,187
Commitments and contingencies (Note 8)
Stockholders' equity    
Preferred stock, $0.001 par value, 30,000,000 shares authorized; 0 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively
Common stock, $0.001 par value, 250,000,000 shares authorized; 11,893,291 and 8,015,756 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively 11,893 8,016
Additional paid-in-capital 33,427,702 26,259,575
Accumulated deficit (21,684,394) (18,495,461)
Total stockholders' equity attributable to Edison Nation, Inc. 11,755,201 7,772,130
Noncontrolling interests (1,130,219) (317,698)
Total stockholders' equity 10,624,982 7,454,432
Total liabilities and stockholders' equity $ 24,405,755 $ 23,609,619

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