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Consolidated Balance Sheets - USD ($)
Sep. 30, 2023
Dec. 31, 2022
Current assets    
Cash $ 6,235,912 $ 8,958,995
Royalty receivable 49,344 99,594
Inventory, net 5,021,030 3,549,000
Prepaid and other assets 621,690 1,104,611
Total current assets 19,375,303 20,616,509
Long-term assets    
Property and equipment, net 1,327,056 1,416,436
Right of use assets – operating leases 2,094,188 806,402
Goodwill 3,601,781 3,601,781
Intangible assets, net 45,991,466 31,509,980
Investment in equity securities 3,084,278 3,084,278
Total long-term assets 56,098,769 40,418,877
Total assets 75,474,072 61,035,386
Current liabilities    
Accrued royalties and expenses 3,583,439 2,144,475
Accrued bonuses and commissions 6,084,654 7,758,284
Earnout liabilities – current 1,000,000 1,162,880
Operating lease liabilities – current 322,206 313,933
Current portion of debt 232,143
Total current liabilities 13,227,076 12,806,309
Long-term liabilities    
Earnout liabilities – long-term 4,871,986 6,003,811
Operating lease liabilities – long-term 1,846,293 505,291
Long-term debt, net of current portion 9,458,254
Other long-term liabilities 1,972,673
Total long-term liabilities 18,149,206 6,509,102
Total liabilities 31,376,282 19,315,411
Commitments and contingencies (Note 10)
Shareholders’ equity    
Common Stock: $0.001 par value, 20,000,000 shares authorized; 8,540,226 issued and outstanding as of September 30, 2023 and 8,299,957 issued and outstanding as of December 31, 2022 8,540 8,300
Additional paid-in capital 72,107,881 65,213,987
Accumulated deficit (27,799,621) (23,394,757)
Total Sanara MedTech shareholders’ equity 44,316,800 41,827,530
Equity attributable to noncontrolling interest (219,010) (107,555)
Total shareholders’ equity 44,097,790 41,719,975
Total liabilities and shareholders’ equity 75,474,072 61,035,386
Nonrelated Party [Member]    
Current assets    
Accounts receivable 7,436,295 6,805,761
Current liabilities    
Accounts payable 1,939,887 1,392,701
Related Party [Member]    
Current assets    
Accounts receivable 11,032 98,548
Current liabilities    
Accounts payable $ 64,747 $ 34,036