Feel The World, Inc.

CIK:0001690455|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 16,908,295	$ 14,736,501	$ 32,891,465	$ 29,967,779
Cost of revenue - product costs	(5,943,978)	(5,862,348)	(12,427,106)	(12,608,869)
Cost of revenue - fulfillment costs	(2,243,645)	(1,934,360)	(4,098,101)	(4,085,734)
Gross profit	8,720,672	6,939,793	16,366,258	13,273,176
Operating expenses:
General and administrative	1,730,675	1,855,746	3,250,373	3,291,576
Sales and marketing	4,551,367	3,697,176	8,301,529	7,684,734
Research and development	428,246	410,353	968,731	810,723
Operations	1,124,454	892,783	2,162,333	2,185,403
Total operating expenses	7,834,742	6,856,058	14,682,966	13,972,436
Income (loss) from operations	885,930	83,735	1,683,292	(699,260)
Other income (expense)
Interest income	182		182
Interest expense	(102,818)	(111,285)	(191,609)	(219,724)
Gain on settlement		406,719
Other income (expense)	65,521	(111,208)	15,676	(249,890)
Total other income (expense)	(37,115)	184,226	(175,751)	(469,614)
Net income (loss) before income taxes	848,815	267,961	1,507,541	(1,168,874)
Provision for (benefit from) income taxes	248,422	(675,424)	434,545	(400,164)
Net income (loss)	600,393	943,385	1,072,996	(768,710)
Other comprehensive income (expense)
Foreign currency translation gain (loss)	15,141	1,031,133	(451,016)	1,617,923
Total comprehensive income	615,534	1,974,518	621,980	849,213
Net Income (loss)	600,393	943,385	1,072,996	(768,710)
Accretion of Series A redeemable convertible preferred stock to redemption value	(507,283)	(458,462)	(1,014,566)	(916,924)
Net income (loss) attributable to common stockholders	$ 93,110	$ 484,923	$ 58,430	$ (1,685,634)
Weighted average common shares outstanding, basic	5,465,687	5,465,687	5,465,687	5,465,687
Weighted average common shares outstanding, diluted	5,748,187	5,766,719	5,748,187	5,465,687
Net income (loss) per share attributable to common stockholders, basic	$ 0.02	$ 0.09	$ 0.01	$ (0.31)
Net income (loss) per share attributable to common stockholders, diluted	$ 0.02	$ 0.08	$ 0.01	$ (0.31)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income (loss)	$ 1,072,996	$ (768,710)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	203,761	246,965
Amortization of debt issuance costs	56,037
Inventory adjustments	6	1,044
Deferred taxes	313,065	(399,168)
Stock based compensation	91,197	20,974
Credit loss expense	29,935	91,036
Changes in operating assets and liabilities:
Accounts receivable	(480,844)	(1,196,978)
Prepaid expenses	(394,810)	(29,482)
Income tax receivable	122,306	(494,588)
Deposits	1,232	(668)
Inventory	(493,683)	615,060
Inventory in transit	1,903,673	(224,928)
Operating lease right-of use asset	368,324	(8,691)
Accounts payable and accrued expenses	(2,925,221)	2,067,020
Income tax payable		329,116
Customer deposits	(417,247)	(50,901)
Operating lease liability	(393,505)
Deferred revenue	12,785	90,271
Net cash provided by (used in) operating activities	(929,993)	287,372
Cash flows from investing activities:
Additions to intangible assets	(70,348)	(67,356)
Purchase of property and equipment, net	(313,256)	(369,887)
Net cash used in investing activities:	(383,604)	(437,243)
Cash flows from financing activities:
Repayments on term loans		(200,000)
Proceeds from lines of credit, net	21,444,023
Repayments on lines of credit	(23,643,766)
Proceeds from the sale of senior preferred stock, net		4,859,967
Net cash provided by (used in) financing activities	(2,199,743)	4,659,967
Effect of foreign currency translation	(451,016)	1,617,923
Net increase (decrease) in cash	(3,964,356)	6,128,019
Cash, beginning of period	10,134,276	1,982,681
Cash, end of period	6,169,920	8,110,700
Supplemental disclosures of cash flow information:
Cash paid for interest	134,135	219,724
Cash paid for income taxes	$ 2,064

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash	$ 6,169,920	$ 10,134,276
Accounts receivable, net	3,012,470	2,561,561
Inventory	15,917,191	15,423,514
Inventory in transit	5,004,451	6,908,124
Income tax receivable	736,659	858,965
Prepaid expenses	806,742	411,932
Total current assets	31,647,433	36,298,372
Property and equipment, net	1,143,295	1,012,288
Intangible assets, net	1,151,910	1,103,074
Deposits	117,538	118,770
Deferred tax assets	926,420	1,239,485
Operating lease right-of-use assets	1,824,887	2,193,211
Total assets	36,811,483	41,965,200
Current liabilities:
Accounts payable and accrued expenses	11,659,657	14,584,878
Customer deposits	15,987	433,234
Deferred revenue	59,392	46,607
Operating lease liability, current portion	867,393	807,749
Lines of credit, current portion	1,856,294	4,000,000
Total current liabilities	14,458,723	19,872,468
Long-term liabilities:
Operating lease liability, net current portion	1,146,404	1,599,553
Total long-term liabilities	1,146,404	1,599,553
Total liabilities	15,605,127	21,472,021
Commitments and contingencies
Temporary equity:
Total temporary equity	26,165,854	25,151,288
Stockholders' equity (deficit):
Additional paid-in capital	738,941	647,744
Treasury stock	(4,424)	(4,424)
Retained earnings (accumulated deficit)	(4,846,803)	(4,905,233)
Accumulated other comprehensive income (loss)	(847,759)	(396,743)
Total stockholders' equity (deficit)	(4,959,498)	(4,658,109)
Total liabilities, temporary equity and stockholders’ equity (deficit)	36,811,483	41,965,200
Series A Redeemable Preferred Stock [Member]
Temporary equity:
Total temporary equity	21,305,887	20,291,321
Senior Preferred Stock [Member]
Temporary equity:
Total temporary equity	4,859,967	4,859,967
Class A Common Stock [Member]
Stockholders' equity (deficit):
Common Stock, Value, Issued	529	529
Class B Common Stock [Member]
Stockholders' equity (deficit):
Common Stock, Value, Issued	$ 18	$ 18