Applied UV, Inc.

CIK:0001811109|SEC Filings

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Net Sales	$ 40,718,188	$ 20,139,849
Cost of Goods Sold	32,891,688	16,101,555
Gross Profit	7,826,500	4,038,294
Operating Expenses
Research and development	552,220	319,167
Selling general and administrative	20,369,810	14,804,068
Loss on impairment of goodwill and intangible assets	6,473,310	6,993,075
Total Operating Expenses	27,395,340	22,116,310
Operating Loss	(19,568,840)	(18,078,016)
Other Income (Expense)
Change in Fair Market Value of Warrant Liability	2,738	58,276
Interest expense	(1,741,976)	(290,341)
Loss on change in Fair Market Value of Contingent Consideration		(240,000)
Gain on Settlement of Contingent Consideration (Note 2)	7,045,936	1,700,000
Other Income	261,840	274,764
Gain on settlement of debt	796,450
Total Other Income (Expense)	6,364,988	1,502,699
Loss Before Provision for Income Taxes	(13,203,852)	(16,575,317)
Benefit from Income Taxes
Net Loss	(13,203,852)	(16,575,317)
Net Loss attributable to common stockholders:
Dividends to preferred shareholders	(1,618,981)	(1,449,000)
Net Loss attributable to common stockholders	$ (14,822,833)	$ (18,024,317)
Basic Loss Per Common Share (in Dollars per share)	$ (40)	$ (176.64)
Weighted Average Shares Outstanding - basic (in Shares)	370,571	102,040

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Cash flows from Operating Activities
Net Loss	$ (13,203,852)	$ (16,575,317)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities
Stock based compensation	718,549	720,402
Credit losses	439,161	94,714
Gain on settlement of assumed liabilities
Change in fair market value of warrant liability	(2,738)	(58,276)
Loss on change in fair market value of contingent consideration (Note 2)		240,000
Gain on settlement of debt	(796,450)
Gain on settlement of accounts payable	(268,376)
Gain on settlement of contingent consideration	(7,045,936)	(1,700,000)
Loss on impairment of goodwill and intangible assets	6,473,310	6,993,075
Change in reserve for Obsolescence in Inventory	451,197	(52,208)
Amortization of right-of-use asset	1,066,298	1,213,949
Depreciation and amortization	2,974,944	1,991,798
Amortization of debt discount	896,297	223,643
Changes in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable	(1,090,064)	19,850
Cost and estimated earnings excess of billings	(1,451,475)	(1,125,610)
Inventory	1,897,320	(3,633,057)
Vendor deposits	(769)	916,494
Prepaid expenses and other current assets	951,720	(448,680)
Accounts payable and accrued expenses	1,842,003	1,340,655
Billings in excess of costs and earnings on uncompleted contracts		(1,388,838)
Deferred revenue	(656,928)	3,941,523
Due to landlord	(372,687)	(279,518)
Operating lease payments	(1,038,889)	(1,170,949)
Net Cash Used in Operating Activities	(8,217,365)	(8,736,350)
Cash Flows From Investing Activities
Cash paid for patent costs	(76,753)	(682)
Purchase of machinery and equipment	(482,888)	(23,017)
Acquisitions, net of cash acquired (Note 2)	(4,115,709)	(10)
Payments on note payable	(166,262)	(152,571)
Net Cash Used in Investing Activities	(4,841,612)	(176,280)
Cash Flows From Financing Activities
Payments on financing leases	(41,379)	(6,591)
Proceeds from officer loan	200,000
Shares repurchased		(149,686)
Dividends to preferred shareholders	(769,481)	(1,449,000)
Proceeds from equity raises, net	11,625,180	2,021,736
Proceeds from note payable, net	441,119	2,462,500
Net Cash Provided by Financing Activities	11,455,439	2,878,959
Net Decrease in Cash and equivalents	(1,603,538)	(6,033,671)
Cash, restricted cash, and cash equivalents at January 1,	2,734,485	8,768,156
Cash, restricted cash, and cash equivalents at December 31,	1,130,947	2,734,485
Supplemental Disclosures of Cash Flow Information:
Interest	816,265	57,534
Supplemental Schedule of Non-Cash Financing and Investing Activities
Conversion of debt into common stock	767,500
Recognition of right of use asset and corresponding liability	563,315	3,527,443
Accrued dividends	849,500
Issuance of Note Payable for payment of prepaid expense	$ 279,347	$ 318,833

Consolidated Balance Sheets - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current Assets
Cash and cash equivalents	$ 1,130,947	$ 2,734,485
Accounts receivable, net of allowance for credit losses	3,895,177	1,508,239
Costs and estimated earnings in excess of billings	3,291,875	1,306,762
Inventory, net	7,170,766	5,508,086
Vendor deposits	451,989	75,548
Prepaid expense and other current assets	1,083,172	1,187,223
Total Current Assets	17,023,926	12,320,343
Property and equipment, net of accumulated depreciation	1,377,273	1,133,468
Other assets	61,500	153,000
Goodwill	14,654,067	3,722,077
Other intangible assets, net of accumulated amortization	22,291,654	11,354,430
Right of use assets	2,977,811	4,044,109
Total Assets	58,386,231	32,727,427
Current Liabilities
Accounts payable and accrued expenses	9,157,841	2,982,760
Contingent consideration	9,757,969
Deferred revenue	6,371,570	4,730,299
Due to landlord (Note 2)	302,372	229,234
Warrant liability	7,249	9,987
Financing lease obligations	42,445	33,712
Operating lease liability	1,741,472	1,437,308
Officer loan	200,000
Notes payable, net	290,505	2,098,685
Total Current Liabilities	27,871,423	11,521,985
Long-Term Liabilities
Due to landlord - less current portion (Note 2)	90,857	393,230
Notes payable, net - less current portion	4,095,093	765,144
Financing lease obligations - less current portion	133,189	158,070
Operating lease liability - less current portion	1,312,050	2,655,103
Total Long-Term Liabilities	5,631,189	3,971,547
Total Liabilities	33,502,612	15,493,532
Redeemable Preferred Stock
Redeemable Preferred Stock	4,776,489
Equity
Common Stock $0.0001 par value, 26,000,000 shares authorized 1,678,855 shares issued and 1,677,947 outstanding as of December 31, 2023 and 109,411 shares issued and 108,503 outstanding as of December 31, 2022, respectively	168	11
Additional paid-in capital	63,316,938	45,621,027
Treasury stock at cost, 908 shares, as of December 31 2023 and 2022	(149,686)	(149,686)
Accumulated deficit	(43,060,346)	(28,237,513)
Total Equity	20,107,130	17,233,895
Total Liabilities, Redeemable Preferred Stock and Stockholders’ Equity	58,386,231	32,727,427
Series B Redeemable Preferred Stock
Redeemable Preferred Stock
Redeemable Preferred Stock	3,712,500
Series C Redeemable Preferred Stock
Redeemable Preferred Stock
Redeemable Preferred Stock	1,063,989
Series A Preferred Stock
Equity
Preferred Stock, Value	55	55
Series X Preferred Stock
Equity
Preferred Stock, Value	$ 1	$ 1