$COSM

Cosmos Holdings Inc.

CIK:0001474167|SEC Filings

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
REVENUE	$ 18,986,376	$ 14,745,702	$ 36,914,268	$ 28,458,230
COST OF GOODS SOLD	17,474,714	13,581,888	34,021,435	25,244,617
GROSS PROFIT	1,511,662	1,163,814	2,892,833	3,213,613
OPERATING EXPENSES
General and administrative expenses	2,066,053	1,490,485	3,866,215	2,969,187
Salaries and wages	1,855,257	1,868,443	3,252,914	2,908,462
Sales and marketing expenses	98,226	21,706	117,578	49,861
Research and development costs	68,552	74,637	68,552	90,266
Depreciation and amortization expense	349,181	353,862	697,360	674,301
TOTAL OPERATING EXPENSES	4,437,269	3,809,133	8,002,619	6,692,077
LOSS FROM OPERATIONS	(2,925,607)	(2,645,319)	(5,109,786)	(3,478,464)
OTHER INCOME (EXPENSE)
Other income (expense), net	37,979	(42,190)	479,041	(110,327)
Interest expense	(602,364)	(388,814)	(1,025,593)	(575,921)
Interest income	45,741	105,787	92,414	197,113
Gain on equity investments, net	3,650	2,639	(7,602)	5,781
Non-cash interest expense	(401,413)	(163,103)	(791,763)	(163,103)
Change in fair value of derivative liability	577,347	0	809,315	0
Gain/(Loss) on digital assets	(404,145)	0	(846,584)	0
Change in fair value of convertible notes	(2,384,374)	(139,592)	(2,144,894)	(139,592)
Foreign currency transaction, net	(33,336)	442,524	(346,493)	618,348
TOTAL OTHER INCOME (EXPENSE), NET	(3,160,915)	(182,749)	(3,782,159)	(167,701)
LOSS BEFORE INCOME TAXES	(6,086,522)	(2,828,068)	(8,891,945)	(3,646,165)
INCOME TAX EXPENSE	0	0	0	0
NET LOSS	(6,086,522)	(2,828,068)	(8,891,945)	(3,646,165)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	(6,086,522)	(2,828,068)	(8,891,945)	(3,646,165)
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustment, net	(54,802)	1,562,470	(349,863)	2,593,738
TOTAL COMPREHENSIVE LOSS	$ (6,141,324)	$ (1,265,598)	$ (9,241,808)	$ (1,052,427)
BASIC NET LOSS PER SHARE	$ (0.10)	$ (0.10)	$ (0.17)	$ (0.13)
DILUTED NET LOSS PER SHARE	$ (0.10)	$ (0.10)	$ (0.17)	$ (0.13)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING
Basic	59,923,199	28,753,492	53,485,312	27,403,053
Diluted	59,923,199	28,753,492	53,485,312	27,403,053

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss	$ (8,891,945)	$ (3,646,165)
Adjustments to Reconcile Net Loss to Net Cash Used In Operating Activities:
Depreciation and amortization expense	694,053	670,191
Amortization of right-of-use assets	3,309	4,110
Bad debt expense	0	0
Change in fair value of derivative liability	(809,315)	0
Gain/(Loss) on crypto assets	846,584	0
Lease expense	144,607	90,469
Interest on finance leases	54	332
Stock based compensation	1,094,644	1,159,632
Deferred income taxes	(4,896)	22,467
Non-cash financing expense	850,110	163,103
Change in fair value of convertible notes	2,144,894	139,592
Gain on net change in fair value of equity investments	7,602	(5,781)
Interest on loan receivable	63,507	0
Revenue reversals	627,721	0
Changes in assets and liabilities:
Accounts receivable, net	(310,846)	(123,992)
Accounts receivable - related party	(3,734)	(44,459)
Inventory	1,133,051	(157,650)
Prepaid expenses and other current assets	(25,507)	(38,885)
Prepaid expenses and other current assets - related party	(726,204)	(731,301)
Accounts payable and accrued expenses	(720,728)	427,821
Accounts payable and accrued expenses - related party	48,603	565,273
Accrued interest	368,561	87,994
Lease liabilities	(144,608)	(90,926)
Other current liabilities	836,305	388,726
Other liabilities	(11,142)	(276,787)
NET CASH USED IN OPERATING ACTIVITIES	(2,785,320)	(1,396,236)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from loan receivable	0	197,117
Return of advances for acquisition of property	599,714	0
Purchase of digital assets	(1,100,000)	0
Purchase of intangible assets	(19,036)	(97,302)
Purchase of property and equipment	(75,036)	(35,064)
NET CASH USED IN INVESTING ACTIVITIES	(594,358)	64,751
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from convertible note payable	516,000	1,604,348
Payment of note payable	(488,859)	(740,130)
Proceeds from note payable	0	1,291,001
Payment of related party loan	0	(6,549)
Proceeds from related party loan	0	0
Payment of lines of credit	(17,232,393)	(13,849,591)
Proceeds from lines of credit	17,045,999	14,053,410
Proceeds from the sale of common stock	2,941,760	0
Purchase of treasury stock	(512,997)	0
Payments of financing fees	(129,253)	(182,448)
Payments of finance lease liability	(3,885)	(4,814)
NET CASH PROVIDED BY FINANCING ACTIVITIES	2,136,372	2,165,227
Effect of exchange rate changes on cash	228,581	(493,344)
NET CHANGE IN CASH	(1,014,725)	340,398
CASH AND RESTRCITED CASH AT BEGINNING OF PERIOD	3,459,893	315,105
CASH AND RESTRICTED CASH AT END OF PERIOD	2,445,168	655,503
Cash	1,800,949	655,503
Restricted Cash	644,219	0
Total Cash and Restricted Cash	2,445,168	655,503
Cash paid during the year:
Interest	445,742	380,227
Income tax	0	0
Supplemental Disclosure of Non-Cash Investing and Financing Activities
Common stock issued for convertible notes payable	6,704,172	0
Common Stock issued in settlement of default interest on convertible notes	58,347	0
Common stock issued in exchange for debt		1,434,978
Debt exchanges	1,227,000	0
Common stock issued to employees	983,023	626,062
Common stock issued to consultants	$ 111,620	$ 533,570

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2026	Dec. 31, 2025
CURRENT ASSETS:
Cash and cash equivalents	$ 1,800,949	$ 715,674
Restricted cash	644,219	2,744,219
Accounts receivable, net	18,860,802	19,628,825
Accounts receivable - related party	2,380,935	2,443,975
Marketable securities	37,464	46,158
Inventory	4,518,560	5,778,142
Loans receivable	487,579	487,638
Prepaid expenses and other current assets	2,809,383	2,007,442
Prepaid expenses and other current assets - related party	5,128,804	4,536,183
TOTAL CURRENT ASSETS	36,668,695	38,388,256
Property and equipment, net	10,140,150	10,578,858
Goodwill and intangible assets, net	6,965,934	7,569,695
Digital assets	1,664,501	1,411,084
Loans receivable - long term portion	2,985,337	3,146,201
Operating lease right-of-use asset	638,720	596,779
Financing lease right-of-use asset	489	3,831
Advances for building's acquisition	286	600,000
Other assets	799,462	1,539,774
Other assets - related party	1,598,380	1,643,040
TOTAL ASSETS	61,461,954	65,477,518
CURRENT LIABILITIES:
Accounts payable and accrued expenses	13,683,942	14,624,006
Accounts payable and accrued expenses - related party	812,280	2,002,470
Accrued interest	801,403	786,497
Lines of credit	8,745,807	9,177,684
Notes payable	2,038,981	2,191,274
Notes payable - related party	11,645	11,971
Convertible notes payable	1,505,146	2,137,804
Derivative liability - convertible note	482,883	1,292,198
Operating lease liability, current portion	205,140	222,115
Financing lease liability, current portion	0	3,854
Other current liabilities	6,555,481	5,821,971
TOTAL CURRENT LIABILITIES	34,842,708	38,271,844
Notes payable - long term portion	1,155,886	1,584,063
Convertible notes payable - long term portion	1,881,092	4,267,774
Operating lease liability, net of current portion	432,422	373,473
Financing lease liability, net of current portion	0	0
Other liabilities	2,475,363	2,555,735
TOTAL LIABILITIES	40,787,471	47,052,889
Commitments and Contingencies (see Note 14)	0	0
STOCKHOLDERS' EQUITY:
Common stock, $0.001 par value;1,500,000,000 shares authorized; 83,407,714 and 41,153,809 shares issued and 80,671,217 and 41,067,312 outstanding as of June 30, 2026 and December 31, 2025, respectively	83,409	41,154
Additional paid-in capital	164,098,808	152,136,404
Treasury stock, at cost, 2,736,497 shares as of June 30, 2026 and December 31, 2025	(1,430,156)	(917,159)
Accumulated deficit	(142,059,218)	(133,167,273)
Accumulated other comprehensive income/(loss)	(18,360)	331,503
TOTAL STOCKHOLDERS' EQUITY	20,674,483	18,424,629
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 61,461,954	$ 65,477,518