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Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Current assets    
Cash $ 12,678,846 $ 18,652,841
Accounts receivable, net 3,836,844 2,861,014
Accounts receivable – related party 210,584 79,787
Royalty receivable 49,344 49,344
Inventory, net 2,312,238 2,048,191
Prepaid and other assets 739,457 917,318
Total current assets 19,827,313 24,608,495
Long-term assets    
Property and equipment, net 1,513,584 1,629,845
Right of use assets – operating leases 296,626 412,770
Intangible assets, net 21,755,906 4,727,970
Investment in equity securities 3,084,278 5,017,351
Total long-term assets 26,650,394 11,787,936
Total assets 46,477,707 36,396,431
Current liabilities    
Accounts payable 732,926 438,154
Accounts payable – related parties 745,492 155,817
Accrued royalties and expenses 1,467,573 706,196
Accrued bonuses and commissions 3,827,521 4,518,817
Operating lease liabilities – current 156,959 203,292
Total current liabilities 6,930,471 6,022,276
Long-term liabilities    
Earnout liabilities – long-term 3,945,579
Operating lease liabilities – long-term 151,378 222,151
Total long-term liabilities 4,096,957 222,151
Total liabilities 11,027,428 6,244,427
Commitments and contingencies (Note 4)  
Shareholders’ equity    
Common Stock: $0.001 par value, 20,000,000 shares authorized; 8,015,401 issued and outstanding as of June 30, 2022 and 7,676,662 issued and outstanding as of December 31, 2021 8,015 7,677
Additional paid-in capital 57,850,750 45,867,768
Accumulated deficit (21,660,396) (15,235,044)
Total Sanara MedTech shareholders’ equity 36,198,369 30,640,401
Equity attributable to noncontrolling interest (748,090) (488,397)
Total shareholders’ equity 35,450,279 30,152,004
Total liabilities and shareholders’ equity $ 46,477,707 $ 36,396,431