Cardiff Lexington Corp Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Cardiff Lexington Corp filed its Q1 2024 10-Q report, detailing financial data and corporate history.</b>

AI Summary

Cardiff Lexington Corp (CDIX) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. Cardiff Lexington Corporation filed a 10-Q report for the quarterly period ended March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. The company's principal business address is 3753 Howard Hughes Parkway, Suite 200, Las Vegas, NV 89169. The company was formerly known as Cardiff International Inc., United American Inc., and Cardiff Financial Inc. The filing includes detailed financial information for various preferred stock series and common stock.

Why It Matters

For investors and stakeholders tracking Cardiff Lexington Corp, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial performance and operational status of Cardiff Lexington Corp. Understanding the company's historical name changes and its current corporate structure is crucial for assessing its evolution and strategic direction.

Risk Assessment

Risk Level: low — Cardiff Lexington Corp shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags or significant negative disclosures, indicating a routine update.

Analyst Insight

Review the detailed financial statements and disclosures within the 10-Q to understand Cardiff Lexington Corp's current financial health and any potential operational changes.

Key Numbers

• 2024-03-31 — Report Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-10 — Filing Date (FILED AS OF DATE)
• 2024-01-01 — Quarter Start Date (Period from)
• 2023-03-31 — Prior Year Quarter End Date (Prior Year Period)

Key Players & Entities

• Cardiff Lexington Corp (company) — FILER
• 0000811222 (company) — CENTRAL INDEX KEY
• 8011 (regulator) — STANDARD INDUSTRIAL CLASSIFICATION
• FL (company) — STATE OF INCORPORATION
• 3753 Howard Hughes Parkway, Suite 200, Las Vegas, NV 89169 (company) — BUSINESS ADDRESS
• 844-628-2100 (dollar_amount) — BUSINESS PHONE
• Cardiff International Inc. (company) — FORMER COMPANY
• 20000211 (company) — DATE OF NAME CHANGE

FAQ

Industry Context

Cardiff Lexington Corporation operates within the healthcare services sector, specifically related to medical practices.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Analyze the balance sheet for changes in assets, liabilities, and equity.
2. Review the income statement for revenue and net income trends.
3. Examine any footnotes or disclosures for significant events or risks.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-10: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides investors with a timely update on the company's financial condition and performance between annual reports.)

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing the initial quarterly financial update.

Key Financial Figures

• $0.001 — ed Stock - 3,000,000 shares authorized, $0.001 par value, stated value $ 4.00 , 868,05

Filing Documents

• cardiff_i10q-033124.htm (10-Q) — 1253KB
• cardiff_ex0302.htm (EX-3.2) — 4KB
• cardiff_ex3101.htm (EX-31.1) — 12KB
• cardiff_ex3102.htm (EX-31.2) — 12KB
• cardiff_ex3201.htm (EX-32.1) — 4KB
• cardiff_ex3202.htm (EX-32.2) — 4KB
• image_001.jpg (GRAPHIC) — 204KB
• image_002.jpg (GRAPHIC) — 153KB
• 0001683168-24-003207.txt (&nbsp;) — 7372KB
• cdif-20240331.xsd (EX-101.SCH) — 56KB
• cdif-20240331_cal.xml (EX-101.CAL) — 63KB
• cdif-20240331_def.xml (EX-101.DEF) — 190KB
• cdif-20240331_lab.xml (EX-101.LAB) — 379KB
• cdif-20240331_pre.xml (EX-101.PRE) — 324KB
• cardiff_i10q-033124_htm.xml (XML) — 1170KB

Financial Statements

Financial Statements 2 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 43 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 51 Item 4.

Controls and Procedures

Controls and Procedures 51 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 53 Item 1A.

Risk Factors

Risk Factors 53 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 53 Item 3. Defaults Upon Senior Securities 53 Item 4. Mine Safety Disclosures 53 Item 5. Other Information 53 Item 6. Exhibits 53 2 PART I FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS. CARDIFF LEXINGTON CORPORATION AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Page Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 (Unaudited and restated) 4 Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 (Unaudited and restated) 5 Condensed Consolidated Statements of Stockholders' Equity (Deficiency) for the Three Months Ended March 31, 2024 and 2023 (Unaudited and restated) 6 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 (Unaudited) 7 Notes to Condensed Consolidated Financial Statements (Unaudited) 8 3 CARDIFF LEXINGTON CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS AS OF MARCH 31, 2024 AND DECEMBER 31, 2023 (UNAUDITED) March 31, 2024 December 31, 2023 (Restated) ASSETS Current assets Cash $ 1,253,552 $ 866,943 Accounts receivable-net 14,649,930 13,305,254 Prepaid and other current assets 7,100 5,000 Total current assets 15,910,582 14,177,197 Property and equipment, net 31,296 34,661 Land 540,000 540,000 Goodwill 5,666,608 5,666,608 Right of use - assets 416,441 289,062 Due from related party 4,979 4,979 Other assets 35,404 33,304 Total assets $ 22,605,310 $ 20,745,811 LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued expense $ 2,104,109 $ 2,047,131 Accrued expenses - related parties 4,323,057 4,733,057 Accrued interest 668,729 620,963 Right of use - liabilities 195,934 157,669 Due to director and officer 45,844 120,997 Notes payable 3,599,345 2,136,077 Convertible notes payable, net of debt discounts of $ 11,305 and $ 24,820 , respectively 3,820,545 3,807,030 Net liabilities of discontinued operations 237,643 237,643 Total current liabilities 14,995,206 13,860,567 Notes payab

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