XML 77 R4.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
4 Months Ended 8 Months Ended 12 Months Ended
Dec. 31, 2018
Aug. 27, 2018
Dec. 31, 2019
Successor      
Revenues $ 3,006,320   $ 11,766,763
Cost of goods sold 371,421   1,209,300
Gross profit 2,634,899   10,557,463
Operating expenses      
Selling, general and administrative expense 2,519,469   13,067,569
Depreciation and amortization 511   119,951
Bad debt expense 0   110,000
Total operating expenses 2,519,980   13,297,520
Operating income (loss) 114,919   (2,740,057)
Other income / (expense)      
Other income (expense) 23,367   10,198
Interest expense 0   (105,919)
Total other income / (expense) 23,367   (95,721)
Net income (loss) 138,286   (2,835,778)
Less: net income (loss) attributable to noncontrolling interest 0   (21,690)
Net income (loss) attributable to Sanara MedTech, Inc. 138,286   (2,814,088)
Series C preferred stock dividends 0   0
Series C Preferred Stock inducement dividends 0   0
Net loss attributable to common stockholders $ 138,286   $ (2,814,088)
Basic income per share of common stock $ 0   $ (1.32)
Diluted income per share of common Stock $ 0   $ (1.32)
Weighted average number of common shares outstanding basic 0   2,132,745
Weighted average number of common shares outstanding diluted 0   2,132,745
Predecessor      
Revenues   $ 5,773,552  
Cost of goods sold   480,703  
Gross profit   5,292,849  
Operating expenses      
Selling, general and administrative expense   5,126,650  
Depreciation and amortization   56,425  
Bad debt expense   12,558  
Total operating expenses   5,195,633  
Operating income (loss)   97,216  
Other income / (expense)      
Other income (expense)   570  
Interest expense   (60,608)  
Total other income / (expense)   (60,038)  
Net income (loss)   37,178  
Less: net income (loss) attributable to noncontrolling interest   0  
Net income (loss) attributable to Sanara MedTech, Inc.   37,178  
Series C preferred stock dividends   (28,061)  
Series C Preferred Stock inducement dividends   (103,197)  
Net loss attributable to common stockholders   $ (94,080)  
Basic income per share of common stock   $ (0.05)  
Diluted income per share of common Stock   $ (0.05)  
Weighted average number of common shares outstanding basic   2,068,941  
Weighted average number of common shares outstanding diluted   2,068,941