Cosmos Health Files Q1 2024 10-Q
Ticker: COSM · Form: 10-Q · Filed: Aug 19, 2024 · CIK: 1474167
Sentiment: bearish
Topics: 10-Q, financials, subsequent-events
TL;DR
Cosmos Health Q1 2024 10-Q filed. Stock at $0.001. Pharmalink event June 1, Notification Letter July 19.
AI Summary
Cosmos Health Inc. filed its 10-Q for the period ending March 31, 2024. The company reported a nominal share price of $0.001 and has a fiscal year end of December 31. Key dates mentioned include June 1, 2024, for a Pharmalink event and July 19, 2024, for a Notification Letter.
Why It Matters
This filing provides investors with an update on Cosmos Health's financial performance and significant events during the first quarter of 2024.
Risk Assessment
Risk Level: high — The extremely low share price of $0.001 suggests significant financial distress or a high risk of delisting.
Key Numbers
- $0.001 — Nominal Share Price (Indicates potential financial distress.)
- 20240331 — Reporting Period End Date (Covers the first quarter of 2024.)
- 20240819 — Filing Date (Date the 10-Q was submitted to the SEC.)
Key Players & Entities
- Cosmos Health Inc. (company) — Filer of the 10-Q
- 0001477932-24-005114 (filing_id) — Accession Number for the filing
- 20240331 (date) — Conformed period of report
- $0.001 (dollar_amount) — Nominal share price
- 20240819 (date) — Filing date
- 20140106 (date) — Date of former company name change
- 20091008 (date) — Date of former company name change
- 2024-06-01 (date) — Pharmalink event date
- 2024-07-19 (date) — Notification Letter date
FAQ
What is the company's current financial position as detailed in this Q1 2024 filing?
The filing indicates a nominal share price of $0.001 and covers the period ending March 31, 2024.
What significant events occurred after the reporting period?
The filing mentions a Pharmalink event on June 1, 2024, and a Notification Letter dated July 19, 2024.
What is the company's fiscal year end?
The fiscal year end for Cosmos Health Inc. is December 31.
What were the previous names of Cosmos Health Inc.?
The company was formerly known as Cosmos Holdings Inc. (name change effective January 6, 2014) and Prime Estates & Developments Inc. (name change effective October 8, 2009).
In which states does Cosmos Health Inc. operate or have reporting segments?
The filing references operations or segments in the UK, Greece, Bulgaria, Cyprus, and Croatia for the periods ending March 31, 2024, and March 31, 2023.
Filing Stats: 4,438 words · 18 min read · ~15 pages · Grade level 14.1 · Accepted 2024-08-19 15:50:39
Key Financial Figures
- $0.001 — ich registered Common Stock, par value $0.001 The Nasdaq Capital Market Securitie
- $19,467 — common stock, net of financing fees of $19,467 - - 901,488 901 628,525 -
Filing Documents
- cosm_10q.htm (10-Q) — 1179KB
- cosm_ex311.htm (EX-31.1) — 11KB
- cosm_ex312.htm (EX-31.2) — 11KB
- cosm_ex321.htm (EX-32.1) — 4KB
- cosm_ex322.htm (EX-32.2) — 4KB
- 0001477932-24-005114.txt ( ) — 7029KB
- cosm-20240331.xsd (EX-101.SCH) — 78KB
- cosm-20240331_lab.xml (EX-101.LAB) — 465KB
- cosm-20240331_cal.xml (EX-101.CAL) — 69KB
- cosm-20240331_pre.xml (EX-101.PRE) — 397KB
- cosm-20240331_def.xml (EX-101.DEF) — 255KB
- cosm_10q_htm.xml (XML) — 1038KB
Financial Statements (Unaudited)
Financial Statements (Unaudited) . 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. 39 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk. 50 Item 4.
Controls and Procedures
Controls and Procedures . 50 PART II Item 1. Legal Proceedings. 52 Item 1A. Risk Factors. 52 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 52 Item 3. Defaults Upon Senior Securities. 52 Item 4. Mine Safety Disclosures. 52 Item 5. Other Information. 52 Item 6. Exhibits. 53
SIGNATURES
SIGNATURES 54 2 Table of Contents
Financial Statements and Supplementary Data
Item 1. Financial Statements and Supplementary Data COSMOS HEALTH INC. CONDENSED CONSOLIDATED BALANCE SHEETS March 31, 2024 December 31, 2023 (Unaudited) ASSETS CURRENT ASSETS: Cash and cash equivalents $ 865,099 $ 3,833,195 Accounts receivable, net 19,070,104 19,759,254 Accounts receivable - related party 1,418,267 1,099,098 Marketable securities 21,328 20,075 Inventory 4,871,349 4,789,054 Loans receivable 407,318 411,858 Loans receivable - related party 431,640 442,480 Prepaid expenses and other current assets 1,895,857 1,811,911 Prepaid expenses and other current assets - related party 5,305,981 4,440,855 TOTAL CURRENT ASSETS 34,286,943 36,607,780 Property and equipment, net 10,170,328 10,455,499 Goodwill and intangible assets, net 7,962,908 7,684,183 Loans receivable - long term portion 3,319,296 3,509,200 Loans receivable - related party - long term 3,345,210 3,539,840 Operating lease right-of-use asset 772,949 1,131,552 Financing lease right-of-use asset 36,465 28,790 Advances for building's acquisition 2,000,020 2,000,020 Other assets 451,076 1,057,947 TOTAL ASSETS $ 62,345,195 $ 66,014,811 LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable and accrued expenses $ 11,080,006 11,911,978 Accounts payable and accrued expenses - related party 547,897 231,564 Accrued interest 100,288 166,348 Lines of credit 6,426,197 6,630,273 Notes payable 1,445,303 1,570,886 Notes payable - related party 11,007 11,283 Loans payable - related party 5,379 13,257 Operating lease liability, current portion 262,967 285,563 Financing lease liability, current portion 30,193 27,222 Other current liabilities 3,646,959 3,474,096 TOTAL CURRENT LIABILITIES 23,556,196 24,322,470 Share settled debt obligation - Notes payable - long term portion 2,700,349 3,035,341 Operatin