v3.25.1

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 20,609,003	$ 17,853,853
Accounts receivable, net of allowances	4,384,238	7,811,159
Notes receivable	2,000	4,700
Inventories	25,705,524	23,146,177
Prepaid expenses	874,203	1,082,425
Other current assets	28,839
Total current assets	51,603,807	49,898,314
Property and equipment, net	13,515,162	10,764,224
Right-of-use assets from operating leases	4,741,326	4,189,621
Goodwill	3,621,453	3,921,453
Intangible assets, net	4,097,778	4,499,170
Deferred tax asset	49,526
Other assets	241,437	201,447
Total assets	77,870,489	73,474,229
Current liabilities:
Accounts payable	3,177,550	3,126,743
Notes payable	3,591,351	1,361,443
Operating lease liabilities	2,078,505	1,807,729
Accrued expenses	3,215,343	2,486,423
Other current liabilities	455,385	211,651
Total current liabilities	12,518,134	8,993,989
Deferred tax liability		38,668
Notes payable, less current portion	9,930,828	13,572,048
Operating lease liabilities, less current portion	2,769,389	2,560,671
Total liabilities	25,218,351	25,165,376
Contingencies (Note 17)
Stockholders' equity:
Preferred stock, $0.01 par value; 5,000,000 shares authorized; no shares issued and outstanding
Common stock, $0.01 par value; 60,000,000 shares authorized; 26,924,631 shares issued and 25,995,701 shares outstanding as of December 31, 2024; 26,924,631 shares issued and 26,508,658 shares outstanding as of December 31, 2023	269,246	269,246
Treasury stock at cost, 928,930 and 415,973 shares, as of December 31, 2024 and December 31, 2023, respectively	(4,568,823)	(2,155,049)
Additional paid-in capital	40,173,000	40,173,000
Retained earnings	16,778,715	10,021,656
Total stockholders' equity	52,652,138	48,308,853
Total liabilities and stockholders' equity	$ 77,870,489	$ 73,474,229

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

Envela Corp 10-K