PishPosh, Inc.

CIK:0001611282|SEC Filings

Statements of Comprehensive Loss - USD ($)	12 Months Ended
Statements of Comprehensive Loss - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Net revenues	$ 18,013,771	$ 21,986,784
Cost of net revenues	12,297,098	14,735,590
Gross profit	5,716,673	7,251,194
Operating expenses:
General and administrative	8,901,103	5,829,111
Research and development	60,000	146,022
Sales and marketing	5,237,593	6,367,245
Total operating expenses	14,198,696	12,342,378
Loss from operations	(8,482,023)	(5,091,184)
Other income (expense):
Other income	410,686	159,159
Interest expense	(668,088)	(209,224)
Loss on extinguishment of debt	(1,693,850)
Total other expense	(1,951,252)	(50,065)
Provision for income taxes
Net loss	$ (10,433,275)	$ (5,141,249)
Weighted average common shares outstanding -basic (in Shares)	4,939,345	3,538,127
Weighted average common shares outstanding, diluted (in Shares)	4,939,345	3,538,127
Net loss per common share -basic (in Dollars per share)	$ (2.11)	$ (1.45)
Net loss per common share- diluted (in Dollars per share)	$ (2.11)	$ (1.45)

Statements of Cash Flows - USD ($)	12 Months Ended
Statements of Cash Flows - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net loss	$ (10,433,275)	$ (5,141,249)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	39,260	40,711
Stock compensation expense	5,617,331
Amortization of debt discount	276,533
Loss on extinguishment of debt	1,693,850
Change in inventory allowance	(151,738)	392,860
Amortization of right of use asset	57,668	1,754
Issuance of shares of common and preferred stock for services		1,441,922
Issuance of convertible note, related party for services		950,000
Forgiveness of Payroll Protection Program loan payable		(142,597)
Changes in operating assets and liabilities:
Accounts receivable	(41,766)	29,930
Inventory	1,883,352	(1,631,853)
Prepaid expenses and other current assets	244,603	(344,846)
Deferred offering costs	(524,797)	(809,027)
Accounts payable	1,533,846	891,631
Accounts payable, related party	(617,235)	(87,049)
Accrued expenses and other current liabilities	117,392	135,403
Operating lease liability	(57,809)
Net cash used in operating activities	(362,785)	(4,272,410)
Cash flows from investing activities:
Purchase of property & equipment		(3,362)
Website development costs		(30,400)
Net cash used in investing activities		(33,762)
Cash flows from financing activities:
Proceeds from notes payable	2,648,160
Repayments from notes payable	(1,097,000)
Proceeds from loan payable	1,081,000	7,202,000
Repayments of loan payable	(2,269,738)	(5,570,794)
Proceeds from convertible notes, related party	150,000
Proceeds from loan payable, related party	515,000
Repayments of loan payable, related party	(515,000)
Proceeds from issuance of preferred and common stock in Subsequent Closing		1,689,980
Issuance of shares of common stock for cash, net of offering costs		429,711
Net cash provided by financing activities	512,422	3,750,897
Net change in cash and cash equivalents	149,637	(555,275)
Cash and cash equivalents at beginning of year	218,605	773,880
Cash and cash equivalents at end of year	368,242	218,605
Supplemental disclosure of cash flow information:
Cash paid for interest	293,072	168,625
Supplemental disclosure of non-cash investing and financing activities:
Warrants issued in connection with new notes	588,367
Conversion of accounts payable, related party into equity		250,000
Conversion of notes payable into equity		1,061,687
Convertible note payable and warrants issued as offering costs		240,135
Effect of the Merger on members’ capital and additional paid-in capital		431,032
Common shares issues as deferred offering costs		175,000
Operating lease liability arising for obtaining right of use asset		$ 168,112

Balance Sheets - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 368,242	$ 218,605
Accounts receivable	81,277	39,511
Inventory, net	2,803,263	4,534,877
Prepaid expenses and other current assets	101,802	346,405
Deferred offering costs	1,708,147	1,183,350
Total current assets	5,062,731	6,322,748
Property and equipment, net		2,722
Intangible assets, net	36,537	73,075
Deposits	10,155	10,155
Right of use asset	57,128	114,796
Total assets	5,166,551	6,523,496
Current liabilities:
Accounts payable	3,863,514	2,329,669
Accrued expenses and other current liabilities	761,022	643,630
Loans payable, current	654,287	1,843,025
Notes payable, net of debt discount	2,273,011
Convertible note payable	240,135	240,135
Lease liability - operating, current portion	58,741	57,809
Total current liabilities	9,054,429	6,785,222
Lease liability - operating		58,741
Notes payable, net of debt discount		1,025,000
Total liabilities	9,054,429	7,868,963
Commitments and contingencies (Note 12)
Stockholders’ deficit:
Preferred stock, $0.000001 par value, 10,000,000 shares authorized, 1,752 shares issued and outstanding as of both December 31, 2023 and 2022
Common stock, $0.000001 par value, 100,000,000 shares authorized, 4,939,345 shares issued and outstanding as of both December 31, 2023 and 2022	5	5
Additional paid-in capital	13,130,058	5,239,194
Accumulated deficit	(17,017,941)	(6,584,666)
Total stockholders’ deficit	(3,887,878)	(1,345,467)
Total liabilities and stockholders’ deficit	5,166,551	6,523,496
Related party
Current liabilities:
Accounts payable, related party	103,719	720,954
Convertible note payable, related party	$ 1,100,000	$ 950,000