NextPlat Corp. Files 2024 10-K: Assets $26M, Liabilities $19M
Ticker: NXPLW · Form: 10-K · Filed: Mar 24, 2025 · CIK: 1058307
| Field | Detail |
|---|---|
| Company | Nextplat Corp (NXPLW) |
| Form Type | 10-K |
| Filed Date | Mar 24, 2025 |
| Risk Level | medium |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-k, financials, acquisition, telecommunications
TL;DR
NextPlat's 2024 10-K shows $26M assets vs $19M liabilities. Acquisition costs noted.
AI Summary
NextPlat Corp. filed its 10-K for the fiscal year ending December 31, 2024, reporting total assets of $25,963,051 and total liabilities of $18,724,596. The company, formerly known as ORBSAT CORP, is incorporated in Nevada and operates in the telephone communications sector. The filing also mentions asset impairment charges and depreciation expense related to the business acquisition of Outfitter.
Why It Matters
This 10-K filing provides a comprehensive overview of NextPlat Corp.'s financial health and operational status for the past fiscal year, offering insights for investors and stakeholders.
Risk Assessment
Risk Level: medium — The company has a significant amount of liabilities relative to its assets, and the filing mentions asset impairment charges, indicating potential financial risks.
Key Numbers
- $25.96M — Total Assets (As of December 31, 2024)
- $18.72M — Total Liabilities (As of December 31, 2024)
- 50,000,000 — Authorized Shares (Total shares authorized)
- 266,284 — Depreciation Expense (Related to intangible assets from Outfitter acquisition)
Key Players & Entities
- NextPlat Corp. (company) — Filer of the 10-K
- 20241231 (date) — Fiscal year end
- 3250 MARY ST (address) — Company business and mailing address
- COCONUT GROVE, FL (location) — Company business and mailing address city and state
- ORBSAT CORP (company) — Former company name
- Outfitter (company) — Acquired business
- $25,963,051 (dollar_amount) — Total assets
- $18,724,596 (dollar_amount) — Total liabilities
FAQ
What was NextPlat Corp.'s net income or loss for the fiscal year ending December 31, 2024?
The provided excerpt does not explicitly state the net income or loss for the fiscal year ending December 31, 2024. It focuses on asset and liability figures.
What is the nature of the 'Asset Impairment Charges' mentioned in the filing?
The filing mentions 'AssetImpairmentCharges' and links it to FASB standards, indicating a reduction in the carrying value of assets, but specific details are not in this excerpt.
What was the total revenue for NextPlat Corp. in the fiscal year ending December 31, 2024?
The provided text does not contain information about NextPlat Corp.'s total revenue for the fiscal year ending December 31, 2024.
What were the terms of the business acquisition of Outfitter?
The filing mentions that the decrease in book tax basis difference of intangible assets is related to the business acquisition of Outfitter, and these assets have a 10-year amortization period, but specific terms of the acquisition are not detailed here.
What is the company's primary business activity?
NextPlat Corp. operates in the 'TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE)' sector, as indicated by its Standard Industrial Classification code [4813].
Filing Details
This Form 10-K (Form 10-K) was filed with the SEC on March 24, 2025 regarding NextPlat Corp (NXPLW).