Cardiff Lexington Corp. Files Q3 2024 10-Q
Ticker: CDIX · Form: 10-Q · Filed: Nov 6, 2024 · CIK: 811222
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
Cardiff Lexington Corp. filed its Q3 10-Q. Financials are in.
AI Summary
Cardiff Lexington Corp. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position. Specific financial figures and operational details are presented within the report.
Why It Matters
This 10-Q filing provides investors and analysts with a crucial update on Cardiff Lexington Corp.'s financial health and operational status for the third quarter of 2024.
Risk Assessment
Risk Level: low — This filing is a routine quarterly report and does not contain immediate, high-impact news.
Key Numbers
- 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
- 2024-11-06 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- Cardiff Lexington Corp. (company) — Filer of the 10-Q
- 20240930 (date) — End of reporting period
- 20241106 (date) — Filing date
- 8011 (number) — Standard Industrial Classification code
- FL (location) — State of incorporation
- 844-628-2100 (phone_number) — Business phone number
FAQ
What is the primary business of Cardiff Lexington Corp.?
Cardiff Lexington Corp. is classified under Standard Industrial Classification code 8011, which pertains to Services - Offices & Clinics of Doctors of Medicine.
When does Cardiff Lexington Corp.'s fiscal year end?
Cardiff Lexington Corp.'s fiscal year ends on December 31st.
What is the address of Cardiff Lexington Corp.'s business operations?
The business address is 3753 Howard Hughes Parkway, Suite 200, Las Vegas, NV 89169.
What was the previous name of Cardiff Lexington Corp.?
The company has had several former names, including Cardiff International Inc., United American Inc., and Cardiff Financial Inc.
What specific series of preferred stock are mentioned in relation to Cardiff Lexington Corp. as of September 30, 2024?
As of September 30, 2024, the filing mentions Redeemable Series N Senior Convertible Preferred Stock, Redeemable Series R Senior Convertible Preferred Stock, and Redeemable Series X Senior Convertible Preferred Stock, as well as Series B Preferred Stock.
Filing Stats: 4,607 words · 18 min read · ~15 pages · Grade level 17.6 · Accepted 2024-11-06 13:42:17
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-093024.htm (10-Q) — 1524KB
- cardiff_ex3101.htm (EX-31.1) — 11KB
- cardiff_ex3102.htm (EX-31.2) — 11KB
- cardiff_ex3201.htm (EX-32.1) — 4KB
- cardiff_ex3202.htm (EX-32.2) — 4KB
- 0001683168-24-007656.txt ( ) — 7945KB
- cdif-20240930.xsd (EX-101.SCH) — 62KB
- cdif-20240930_cal.xml (EX-101.CAL) — 68KB
- cdif-20240930_def.xml (EX-101.DEF) — 217KB
- cdif-20240930_lab.xml (EX-101.LAB) — 417KB
- cdif-20240930_pre.xml (EX-101.PRE) — 360KB
- cardiff_i10q-093024_htm.xml (XML) — 1363KB
Financial Statements
Financial Statements 3 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 47 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 57 Item 4.
Controls and Procedures
Controls and Procedures 57 PART II OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 59 Item 1A.
Risk Factors
Risk Factors 59 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 59 Item 3. Defaults Upon Senior Securities 59 Item 4. Mine Safety Disclosures 59 Item 5. Other Information 59 Item 6. Exhibits 61 2 PART I FINANCIAL INFORMATION ITEM 1.
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS. CARDIFF LEXINGTON CORPORATION AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Page Condensed Consolidated Balance Sheets as of September 30, 2024 (unaudited) and December 31, 2023 (restated) 4 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 (Unaudited and restated) 5 Condensed Consolidated Statements of Stockholders' Equity (Deficit) for the Three and Nine Months Ended September 30, 2024 and 2023 (Unaudited and restated) 6 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 (Unaudited) 9 Notes to Condensed Consolidated Financial Statements (Unaudited and restated) 10 3 CARDIFF LEXINGTON CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS AS OF SEPTEMBER 30, 2024 (UNAUDITED) AND DECEMBER 31, 2023 September 30, 2024 December 31, 2023 (Restated) ASSETS Current assets Cash $ 1,949,600 $ 866,943 Accounts receivable-net 14,798,220 13,305,254 Prepaid and other current assets 5,000 5,000 Total current assets 16,752,820 14,177,197 Property and equipment, net 24,563 34,661 Land 540,000 540,000 Goodwill 5,666,608 5,666,608 Right of use - assets, net 465,389 289,062 Due from related party 4,979 4,979 Other assets 60,403 33,304 Total assets $ 23,514,762 $ 20,745,811 LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued expense $ 1,386,412 $ 2,047,131 Accrued expenses - related parties 4,353,056 4,733,057 Accrued interest 361,172 620,963 Right of use – lease liabilities 227,606 157,669 Due to director and officer – 120,997 Notes payable – current portion 500,826 15,977 Line of credit 7,468,971 2,120,100 Convertible notes payable, net of debt discounts of $ 0 and $ 24,820 , respectively 105,000 3,807,030 Net liabilities of discontinued op