Sow Good Inc
NASDAQ:SOWG

  • LAST PRICE
    3.9800
  • TODAY'S CHANGE (%)
    0.0000 (0.0000%)
  • Bid / Lots
    3.9600/ 2
  • Ask / Lots
    4.0100/ 9
  • Open / Previous Close
    --- / 3.9800
  • Day Range
    ---
  • 52 Week Range
    3.5000
    24.8300
  • Volume
    1,210

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  • Nov 15, 2024

  • Nov 14, 2024

      Show headlines and story abstract

    • 11:59AM ET on Thursday Nov 14, 2024 by Dow Jones
      Companies Mentioned: SOWG

      By Connor Hart

      Sow Good shares fell to a 52-week low after the freeze-dried candy and treat maker swung to a third-quarter loss, hurt by a halt of shippments and quality concerns stemming from a distribution blunder.

    • 8:15AM ET on Thursday Nov 14, 2024 by MT Newswires
      Companies Mentioned: SOWG
      08:15 AM EST, 11/14/2024 (MT Newswires) -- ...

    • 8:00AM ET on Thursday Nov 14, 2024 by Dow Jones
      Companies Mentioned: SOWG
      Bad debts expense 176,032 - Depreciation and amortization 582,948 306,092 Non-cash amortization of right-of-use asset and liability 791,360 15,245 Impairment of obsolete inventory - 2,075,080 Common stock issued to directors for services 295,648 125,229 Amortization of stock options 3,394,746 399,436 Amortization of stock warrants issued as a debt discount 932,883 900,228 Loss on early extinguishment of debt 696,502 - Decrease (increase) in current assets: Accounts receivable 1,169,269 (1,197,608) Prepaid expenses 360,734 (10,760) Inventory (15,319,762) (2,342,871) Security deposits (1,011,340) (12,309) Increase (decrease) in current liabilities: Accounts payable 447,563 257,091 Income tax payable 65,603 - Accrued interest (363,326) 419,807 Accrued expenses 1,190,375 125,270 ----------- ---------- Net cash provided by used in operating activities (6,124,944) (3,328,516) ----------- ---------- CASH FLOWS FROM INVESTING ACTIVITIES Purchase of property and equipment (3,143,561) (1,326,276) Cash paid for construction in progress (1,325,726) - ----------- ---------- Net cash used in investing activities (4,469,287) (1,326,276) ----------- ---------- CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from common stock offerings, net of offering costs of $859,024 15,712,976 3,675,000 Proceeds from the exercise of warrants and options 373,855 - Proceeds received from notes payable, related parties - 2,400,000 Proceeds received from notes payable - 400,000 Repayments of borrowings (956,250) - ----------- ---------- Net cash provided by financing activities 15,130,581 6,475,000 ----------- ---------- NET CHANGE IN CASH AND CASH EQUIVALENTS 4,536,350 1,820,208 CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 2,410,037 276,464 ----------- ---------- CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 6,946,387 $ 2,096,672 =========== ========== SUPPLEMENTAL INFORMATION: Interest paid $ 667,293 $ 27,878 =========== ========== Interest received $ 43,639 - =========== ========== Income taxes paid $ 130,000 - =========== ========== NON-CASH INVESTING AND FINANCING ACTIVITIES: Non-cash exercise of warrants $ 5,299,113 - =========== ========== Repayment of interest $ (98,750) - =========== ========== Repayments of borrowings $ (5,200,363) - =========== ========== Reclassification of construction in progress to property and equipment $ 2,864,649 $ 1,766,110 =========== ========== Value of debt discounts attributable to warrants $ - $ 247,880 =========== ========== SOW GOOD INC. RECONCILIATION OF NET INCOME (LOSS) TO EBITDA AND ADJUSTED EBITDA Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 ----------- -------- ---------- ----------- Net income (loss) $(3,379,909) $333,984 $ 465,821 $(4,388,446) Depreciation and amortization 216,164 150,676 582,948 306,092 Interest expense, net 185,586 3,641 1,199,789 1,349,486 Provision for income tax (62,315) - 195,603 - ---------- ------- --------- ---------- EBITDA (3,040,474) 488,301 2,444,161 (2,732,868) Share-based payments 1,186,871 140,759 3,690,394 524,665 Loss on early extinguishment of debt - - 696,502 - ---------- --------- Adjusted EBITDA $(1,853,603) $629,060 $6,831,057 $(2,208,203) ========== ======= ========= ==========

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