Eastside Distilling Files Q3 2024 10-Q

TL;DR

Eastside Distilling's Q3 10-Q is in. Check financials.

AI Summary

Eastside Distilling, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported its financial results for the third quarter and the first nine months of the year. Specific financial figures and operational details are provided within the filing.

Why It Matters

This filing provides investors and stakeholders with the latest financial performance and operational status of Eastside Distilling, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a publicly traded company, Eastside Distilling faces inherent market and operational risks detailed in its SEC filings.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 2024-11-15 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 2024-01-01 — Year-to-Date Start Date (Marks the beginning of the nine-month period for which financial results are presented.)

Key Players & Entities

• Eastside Distilling, Inc. (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241115 (date) — Filing date of the 10-Q
• Portland, OR (location) — Company's business and mailing address

FAQ

Filing Documents

• form10-q.htm (10-Q) — 1216KB
• ex31-1.htm (EX-31.1) — 12KB
• ex31-2.htm (EX-31.2) — 12KB
• ex32-1.htm (EX-32.1) — 5KB
• ex32-2.htm (EX-32.2) — 6KB
• form10-q_002.jpg (GRAPHIC) — 23KB
• 0001493152-24-046343.txt ( ) — 7377KB
• east-20240930.xsd (EX-101.SCH) — 59KB
• east-20240930_cal.xml (EX-101.CAL) — 94KB
• east-20240930_def.xml (EX-101.DEF) — 298KB
• east-20240930_lab.xml (EX-101.LAB) — 526KB
• east-20240930_pre.xml (EX-101.PRE) — 429KB
• form10-q_htm.xml (XML) — 949KB

— FINANCIAL INFORMATION

PART I— FINANCIAL INFORMATION 3 Item 1.

Financial Statements

Financial Statements 3 Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 4 Consolidated Statements of Stockholders' Equity (Deficit) for the Three and Nine Months Ended September 30, 2024 and 2023 5 Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 6 Notes to the Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 32 Item 4

Controls and Procedures

Controls and Procedures 32

— OTHER INFORMATION

PART II— OTHER INFORMATION 32 Item 1

Legal Proceedings

Legal Proceedings 32 Item 1A

Risk Factors

Risk Factors 32 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33 Item 3. Defaults Upon Senior Securities 33 Item 4. Mine Safety Disclosures 33 Item 5. Other Information 33 Item 6. Exhibits 33

SIGNATURES

SIGNATURES 34 2 PART I: FINANCIAL INFORMATION ITEM 1 – FINANCIAL STATEMENTS Eastside Distilling, Inc. and Subsidiaries Consolidated Balance Sheets ( Dollars in thousands, except shares and per share amounts) September 30, 2024 December 31, 2023 (unaudited) Assets Current assets: Cash $ 310 $ 306 Trade receivables, net 105 163 Inventories 1,793 2,686 Prepaid expenses and other current assets 176 113 Current assets held for sale 2,640 1,269 Total current assets 5,024 4,537 Property and equipment, net 112 169 Right-of-use assets 430 680 Intangible assets, net 4,178 4,178 Other assets, net 182 247 Non-current assets held for sale 6,298 7,669 Total Assets $ 16,224 $ 17,480 Liabilities and Stockholders' Equity (Deficit) Current liabilities: Accounts payable $ 1,388 $ 1,062 Accrued liabilities 418 465 Current portion of secured credit facilities, related party 3,447 - Current portion of secured credit facilities, net of debt issuance costs 728 - Current portion of notes payable 8,155 486 Current portion of notes payable, related party 92 92 Current portion of lease liabilities 191 223 Other current liability, related party 85 - Current liabilities held for sale 3,124 1,877 Total current liabilities 17,628 4,205 Lease liabilities, net of current portion 213 458 Secured credit facilities, related party - 2,700 Secured credit facilities, net of debt issuance costs - 342 Notes payable, net of current portion - 7,556 Non-current liabilities held for sale 843 1,366 Total liabilities 18,684 16,627 Commitments and contingencies (Note 14) - - Stockholders' equity (deficit): Common stock, $ 0.0001 par value; 6,000,000 shares authorized as of September 30, 2024 and December 31, 2023; and 3,140,625 shares and 1,705,987 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively - - Preferred stock, $ 0.0001

View Full Filing

View this 10-Q filing on SEC EDGAR