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Consolidated Balance Sheets - USD ($)
Jun. 30, 2024
Dec. 31, 2023
Current assets    
Cash $ 6,150,375 $ 5,147,216
Royalty receivable 49,344
Inventory, net 3,564,659 4,717,533
Prepaid and other assets 489,240 608,411
Total current assets 20,811,428 19,005,869
Long-term assets    
Intangible assets, net 42,977,404 44,926,061
Goodwill 3,601,781 3,601,781
Investment in equity securities 3,084,278 3,084,278
Right of use assets – operating leases 1,792,448 1,995,204
Property and equipment, net 1,116,266 1,257,956
Total long-term assets 52,572,177 54,865,280
Total assets 73,383,605 [1] 73,871,149
Current liabilities    
Accrued bonuses and commissions 6,715,062 7,676,770
Accrued royalties and expenses 2,475,488 2,047,678
Earnout liabilities – current 1,085,549 1,100,000
Current portion of debt 580,357
Operating lease liabilities – current 393,663 361,185
Total current liabilities 11,565,787 13,767,877
Long-term liabilities    
Long-term debt, net of current portion 14,371,485 9,113,123
Earnout liabilities – long-term 2,654,001 2,723,001
Operating lease liabilities – long-term 1,512,584 1,737,445
Other long-term liabilities 1,877,753 1,941,686
Total long-term liabilities 20,415,823 15,515,255
Total liabilities 31,981,610 29,283,132
Commitments and contingencies (Note 8)
Shareholders’ equity    
Common Stock: $0.001 par value, 20,000,000 shares authorized; 8,746,976 issued and outstanding as of June 30, 2024 and 8,535,239 issued and outstanding as of December 31, 2023 8,747 8,535
Additional paid-in capital 75,085,515 72,860,556
Accumulated deficit (33,387,960) (28,036,814)
Total Sanara MedTech shareholders’ equity 41,706,302 44,832,277
Equity attributable to noncontrolling interest (304,307) (244,260)
Total shareholders’ equity 41,401,995 44,588,017
Total liabilities and shareholders’ equity 73,383,605 73,871,149
Nonrelated Party [Member]    
Current assets    
Accounts receivable 10,495,742 8,474,965
Current liabilities    
Accounts payable 750,538 1,924,082
Related Party [Member]    
Current assets    
Accounts receivable 111,412 8,400
Current liabilities    
Accounts payable $ 145,487 $ 77,805
[1] - Segment assets for 2023 represent assets as of 12.31.23.