Company: LDWY
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001558370-25-007580
Chunk: 1

Company: LENDWAY, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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Item 1. Financial Statements

Lendway, Inc. and Subsidiaries

CONDENSED CONSOLIDATED BALANCE SHEETS

Values are rounded to the nearest thousand dollars and thousand shares

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​​​​​​​​​​March 31, 2025​December 31, 2024​​​(Unaudited)​​​​Assets​​​​​​​Current assets:​​​​​​​Cash and cash equivalents $ 1,308,000 $ 1,759,000 Accounts receivable - net of allowances for credit losses of $89 and $137, respectively ​ 4,475,000 ​ 2,243,000 Inventories ​ 11,922,000 ​ 13,370,000 Prepaid expenses and other current assets ​ 2,101,000 ​ 1,466,000 Total current assets​​ 19,806,000​​ 18,838,000​Property and equipment, net ​ 11,459,000 ​ 11,316,000 Equity-method investment ​ 191,000 ​ 191,000 Goodwill ​ 10,860,000 ​ 10,705,000 Intangible assets, net ​ 25,187,000 ​ 25,568,000 Operating lease right-of-use assets ​ 32,590,000 ​ 32,942,000 Finance lease right-of-use assets ​ 61,000 ​ 65,000 Long-term receivable ​ 360,000 ​ 360,000 Total assets​$ 100,514,000​$ 99,985,000​Liabilities and Stockholders’ equity​   ​   ​Current liabilities:​   ​   ​Accounts payable​$ 4,133,000​$ 3,019,000​Accrued compensation​  598,000​  490,000​Accrued expenses and other current liabilities​  1,841,000​  1,361,000​Current portion of operating lease liabilities​  1,115,000​  1,068,000​Current portion of finance lease liabilities​  18,000​  21,000​Current portion of debt​  2,313,000​  1,820,000​Related party note