Innovative Food Holdings Files Q2 2025 10-Q

TL;DR

IFH filed its 10-Q for Q2 2025. Check financials.

AI Summary

Innovative Food Holdings, Inc. filed its quarterly report on Form 10-Q for the period ended June 30, 2025. The company, formerly known as Alpha Solarco Inc. until July 3, 1992, is incorporated in Florida and headquartered in Broadview, Illinois. The filing details its financial performance and operational status for the specified quarter.

Why It Matters

This filing provides investors with an update on Innovative Food Holdings' financial health and operational progress during the second quarter of 2025.

Risk Assessment

Risk Level: low — This is a standard quarterly filing with no immediate red flags or significant new disclosures.

Key Players & Entities

• INNOVATIVE FOOD HOLDINGS, INC. (company) — Registrant
• ALPHA SOLARCO INC (company) — Former company name
• June 30, 2025 (date) — Quarterly period end date
• 20250814 (date) — Filing date
• Florida (location) — State of incorporation
• Broadview, Illinois (location) — Principal executive offices location

FAQ

Key Financial Figures

• $2.00 — upon the attainment of a stock price of $2.00 per share for 20 straight trading days
• $3.00 — upon the attainment of a stock price of $3.00 per share for 20 straight trading days

Filing Documents

• ivfh10q063025.htm (10-Q) — 1213KB
• ivfhex31-1.htm (EX-31.1) — 10KB
• ivfhex31-2.htm (EX-31.2) — 10KB
• ivfhex32-1.htm (EX-32.1) — 4KB
• ivfhex32-2.htm (EX-32.2) — 4KB
• image_001.jpg (GRAPHIC) — 8KB
• 0001185185-25-000972.txt ( ) — 8799KB
• ivfh-20250630.xsd (EX-101.SCH) — 104KB
• ivfh-20250630_cal.xml (EX-101.CAL) — 50KB
• ivfh-20250630_def.xml (EX-101.DEF) — 419KB
• ivfh-20250630_lab.xml (EX-101.LAB) — 711KB
• ivfh-20250630_pre.xml (EX-101.PRE) — 438KB
• ivfh10q063025_htm.xml (XML) — 1346KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 3 Consolidated Balance Sheets 3 Consolidated Statements of Operations 4 Consolidated Statement of Stockholders' Equity 5 Consolidated Statements of Cash Flows 6 Condensed 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 29 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 36 Item 4.

Controls and Procedures

Controls and Procedures 36

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 3. Defaults Upon Senior Securities 37 Item 4. Mine Safety Disclosures 37 Item 5. Other Information 37 Item 6. Exhibits 38

Signatures

Signatures 39 Table of Contents PART I. FINANCIAL INFORMATION

Financial

Item 1. Financial Innovative Food Holdings, Inc. Consolidated Balance Sheets June 30, December 31, 2025 2024 (unaudited) ASSETS Current assets Cash and cash equivalents $ 1,553,555 $ 2,330,880 Accounts receivable, net 6,916,597 9,039,232 Inventory, net 5,901,009 6,290,488 Other current assets 338,237 238,526 Assets held for sale 5,941,933 5,941,933 Current assets - discontinued operations - 49,315 Total current assets 20,651,331 23,890,374 Property and equipment, net 1,678,212 1,584,878 Right of use assets - operating leases, net 581,504 705,476 Right of use assets - finance leases, net 464,507 524,273 Amortizable intangible assets, net 381,216 424,372 Tradenames and other unamortizable intangible assets 217,000 217,000 Total assets $ 23,973,770 $ 27,346,373 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued liabilities $ 4,187,591 $ 6,653,622 Accrued separation costs - related parties, current portion 225,559 334,532 Accrued interest 83,207 91,347 Deferred revenue 345,800 349,600 Stock appreciation rights liability 1,125,887 1,353,150 Notes payable, current portion 197,347 190,052 Lease liability - operating leases, current 242,975 239,660 Lease liability - finance leases, current 84,786 147,797 Contingent liability, current 54,430 54,430 Total current liabilities 6,547,582 9,414,190 Note payable, net of discount 8,599,293 8,692,674 Accrued separation costs - related parties, non-current 400,000 457,692 Lease liability - operating leases, non-current 344,843 467,569 Lease liability - finance leases, non-current 76,919 139,591 Total liabilities 15,968,637 19,171,716 Commitments & Contingencies (see note 18) Stockholders' equity Common stock: $ 0.0001 par value; 500,000,000 shares authorized; 57,196,294 and 56,009,032 shares issued, and 54,351,997 and 53,164,735 shares outstanding at Ju

Business

Business Activity We provide difficult-to-find specialty foods primarily to both Professional Chefs through our relationships with producers, growers, makers and distributors of these products worldwide. The distribution of these products primarily originates from our two warehouses and those of our drop ship partners, and is driven by our proprietary technology platform. In addition, we provide value-added services through our team of food specialists and Chef Advisors who offer customer support, menu ideas, and preparation guidance. Restructuring During the fourth quarter of 2023, we made the decision to focus more on our Business to Business (B2B) activities and less on our Direct to Consumer ("D2C") products. Our subsidiaries GROW and Oasis were sold effective December 29, 2023; Haley Food Group, Inc. ("Haley") was sold effective February 26, 2024; and the igourmet platform and its D2C components were sold effective August 6, 2024. We continue to operate the B2B component, which remains part of our continuing operations. On October 8, 2024, we sold substantially all of the assets of Mouth. The activities of P Innovations ("Plantbelly") were abandoned. See Note 2. Discontinued Operations Pursuant to the guidance of Accounts Standards Codification ("ASC") 205-20, Presentation of Financial Statements – Discontinued Operations, the accounts of our discontinued entities GROW, Oasis, Haley, Plantbelly, and Mouth have been included in "Net loss from discontinued operations" in our consolidated statements of operations. Additionally, the assets and liabilities of these entities have been presented as discontinued operations in our consolidated balance sheets. On December 29, 2023, the Company completed the sales of its Grow and Oasis subsidiaries; on February 26, 2024, the Company completed the sale of its Haley subsidiary (see Note 4); and on October 8, 2024, the Company completed the sale of substantially all of the assets of Mouth. In addition, the operatio

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