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CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2021
Dec. 31, 2020
Current assets    
Cash $ 22,371,434 $ 455,366
Accounts receivable, net of allowances of $97,397 and $100,189 2,064,080 2,217,533
Accounts receivable - related party 171,440 0
Royalty receivable 49,344 49,344
Inventory, net of allowance for obsolescence of $184,870 and $276,603 1,552,350 1,148,253
Prepaid and other assets 1,020,901 611,817
Total current assets 27,229,549 4,482,313
Long-term assets    
Property and equipment, net of accumulated depreciation of $252,138 and $124,691 1,581,298 678,589
Right of use assets - operating leases 469,702 467,653
Intangible assets, net of accumulated amortization of $1,095,628 and $827,108 4,835,854 3,097,666
Investment in equity securities 3,811,531 1,100,000
Total long-term assets 10,698,385 5,343,908
Total assets 37,927,934 9,826,221
Current liabilities    
Accounts payable 321,391 271,251
Accounts payable - related parties 132,134 223,589
Accrued royalties and expenses 598,167 502,191
Accrued bonus and commissions 2,880,461 2,417,277
Operating lease liability - current 226,138 125,587
Total current liabilities 4,158,291 3,539,895
Long-term liabilities    
Operating lease liability - long term 256,718 355,797
Other long-term liabilities 90,293 90,293
Total long-term liabilities 347,011 446,090
Total liabilities 4,505,302 3,985,985
Shareholders' equity    
Common Stock: $0.001 par value, 20,000,000 shares authorized; 7,632,044 issued and outstanding as of September 30, 2021 and 6,297,008 issued and outstanding as of December 31, 2020 7,632 6,297
Additional paid-in capital 45,300,968 13,176,576
Accumulated deficit (11,405,848) (7,032,242)
Total Sanara MedTech shareholders' equity 33,902,752 6,150,631
Equity attributable to noncontrolling interest (480,120) (310,395)
Total shareholders' equity 33,422,632 5,840,236
Total liabilities and shareholders' equity $ 37,927,934 $ 9,826,221