arcee-ai/sec-data-full · Datasets at Hugging Face

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CURRENT LIABILITIES 12,432,466 8,083,830 Operating
lease liability – long term, net of current portion 2,607,862 291,183 Notes payable,
net of current portion 707,306 1,138,331 Vesting
note payable – related party 1,001,183 498,979 Convertible
promissory notes, net of discount 26,630,655 - Deferred
tax liability 2,070,000 - Discontinued
operations – long-term liabilities - 5,981,467 TOTAL
LIABILITIES $ 45,449,472 $ 15,993,790 SHAREHOLDERS’ EQUITY Allocation shares, 1,000 shares issued and outstanding 1,000 1,000 Series A convertible preferred shares, 1,818,182 and 2,632,278 outstanding as of December 31, 2021 and 2020, respectively 1,655,404 2,971,427 Distribution
receivable ( 2,000,000 ) ( 2,000,000 ) Common Shares, 500,000,000 shares authorized, 4,842,851 and 4,444,013 shares issued and outstanding as of December 31, 2021 and 2020, respectively 4,843 4,444 Additional
paid-in capital 21,719,410 17,005,491 Accumulated
deficit ( 19,914,957 ) ( 13,856,973 ) TOTAL
1847 HOLDINGS SHAREHOLDERS’ EQUITY 1,465,700 4,125,389 NON-CONTROLLING
INTERESTS 91,375 ( 879,239 ) TOTAL
SHAREHOLDERS’ EQUITY 1,557,075 3,246,150 TOTAL
LIABILITIES AND SHAREHOLDERS’ EQUITY $ 47,006,547 $ 19,239,940 The
accompanying notes are an integral part of these consolidated financial statements F- 4 1847 HOLDINGS LLC CONSOLIDATED STATEMENTS OF OPERATIONS Years
Ended December 31, 2021 2020 REVENUES Furniture
and appliances $ 12,741,064 $ 7,625,222 Construction 12,203,890 1,120,224 Automotive
supplies 5,716,030 - TOTAL REVENUE 30,660,984 8,745,446 OPERATING EXPENSES Cost of sales 20,311,724 6,531,435 Personnel 3,247,441 734,867 Depreciation
and amortization 908,982 176,612 General
and administrative 7,296,736 2,652,429 TOTAL
OPERATING EXPENSES 31,764,883 10,095,343 NET LOSS FROM OPERATIONS ( 1,103,899 ) ( 1,349,897 ) OTHER INCOME (EXPENSE) Gain
on forgiveness of debt 360,302 - Loss
on write-down of vesting note payable – related party ( 602,204 ) - Loss
on extinguishment of debt ( 137,692 ) ( 286,350 ) Loss
on redemption of preferred shares ( 4,017,553 ) - Gain
on disposition of subsidiary 3,282,804 - Gain
on sale of property and equipment 10,885 - Other
income and (expense) 876 ( 18,196 ) Interest
expense ( 1,296,537 ) ( 249,626 ) TOTAL
OTHER INCOME (EXPENSE) ( 2,399,119 ) ( 554,172 ) NET LOSS BEFORE INCOME TAXES ( 3,503,018 ) ( 1,904,069 ) INCOME
TAX BENEFIT (EXPENSE) ( 218,139 ) 83,931 NET
LOSS AFTER TAXES ( 3,721,157 ) ( 1,820,138 ) NET LOSS
FROM CONTINUING OPERATIONS $ ( 3,721,157 ) $ ( 1,820,138 ) NET LOSS FROM DISCONTINUED
OPERATIONS Income (loss) from discontinued
operations before income taxes 240,405 ( 12,875,463 ) Less
provision for income taxes for discontinued operations - - Net income (loss) from discontinued
operations 240,405 ( 12,875,463 ) Less
net income (loss) from discontinued operations attributable to noncontrolling interests 108,182 ( 5,036,832 ) Net income (loss) from discontinued
operations attributable to 1847 Holdings common shareholders 132,223 ( 7,838,631 ) NET LOSS $ ( 3,588,934 ) $ ( 9,658,769 ) LESS
NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTERESTS ( 284,372 ) ( 50,120 ) NET LOSS
AVAILABLE TO COMMON SHAREHOLDERS $ ( 3,304,562 ) $ ( 9,608,649 ) PREFERRED SHARE ACCRUED DIVIDEND ( 984,176 ) - 1847 GOEDEKER SPIN-OFF DIVIDEND - ( 283,257 ) DISTRIBUTION – ALLOCATION SHARES - ( 5,985,000 ) DEEMED
DIVIDEND RELATED TO ISSUANCE OF PREFERRED SHARES ( 1,527,086 ) ( 3,051,478 ) NET INCOME
(LOSS) ATTRIBUTABLE TO 1847 HOLDINGS SHAREHOLDERS $ ( 5,815,824 ) $ ( 18,928,384 ) Net loss
per common share from continuing operatio basic $ ( 0.78 ) $ ( 0.49 ) Net income
(loss) per common share from discontinued operatio basic $ 0.03 $ ( 2.12 ) Net loss
per common sh basic $ ( 0.70 ) $ ( 2.60 ) Net loss
per common share from continuing operatio diluted $ ( 0.78 ) $ ( 0.49 ) Net income
(loss) per common share from discontinued operatio diluted $ 0.01 $ ( 2.12 ) Net loss
per common sh diluted $ ( 0.70 ) $ ( 2.60 ) Weighted-average
common shares outstandin basic 4,749,971 3,692,429 Weighted-average
common shares outstandin diluted 11,175,892 3,692,429 The
accompanying notes are an integral part of these consolidated financial statements F- 5 1847 HOLDINGS LLC CONSOLIDATED STATEMENTS OF SHAREHOLDERS’
EQUITY (DEFICIT) Allocation Preferred
Shares Goedeker
Subscription Common
Shares Additional
Paid-In Accumulated Non-
Controlling Shareholders’
Equity Shares Shares Amount Receivable Shares Amount Capital Deficit Interest (Deficit) BALANCE – January 1, 2020 $ 1,000 - $ - $ - 3,165,625 $ 3,165 $ 442,014 $ ( 4,402,043 ) $ ( 42,930 ) $ ( 3,998,794 ) Common
shares issued in connection with acquisition - - - - 415,000 415 1,037,085 - - 1,037,500 Common
shares issued for service - - - - 100,000 100 244,900 - - 245,000 Common
shares issued upon partial conversion of convertible note payable - - - - 150,000 150 374,850 - - 375,000 Warrants
issued in connection with convertible note payable - - - - - - 448,211 - 118,500 566,711 Fair
value of stock options - - - - - - 191,386 - - 191,386 Common
shares issued in connection with Kyle’s acquisition - - - - 700,000 700 3,674,300 - - 3,675,000 Issuance
of warrants for services - - - - - - 87,550 - - 87,550 Common
shares issued upon warrant exercise - - - - 230,000 230 62,270 - - 62,500 Common
shares issued upon option exercise - - - - 77,500 78 149,922 - - 150,000 Purchase
of common shares from seller shares, cancellation of common shares held in treasury and common share dividend to non-controlling
interest - - - - ( 394,112 ) ( 394 ) ( 693,314 ) ( 57,442 ) - ( 751,150 ) Issuance
of preferred shares, net of fees - 2,633,278 2,794,477 - - - 5,001,317 ( 2,874,478 ) - 4,921,316 Dividend
on disposition of Goedeker - - - ( 2,000,000 ) - - 5,985,000 3,262,592 ( 359,078 ) 6,888,514 Accrued
dividends payable - - 176,950 - - - - ( 176,950 ) - - Net
loss - - - - - - - ( 9,608,652 ) ( 595,731 ) ( 10,204,383 ) BALANCE
– December 31, 2020 $ 1,000 2,633,278 $ 2,971,427 $ ( 2,000,000 ) 4,444,013 $ 4,444 $ 17,005,491 $ ( 13,856,973 ) $ ( 879,239 ) $ 3,246,150 Issuance
of Series A preferred shares, net of fees - 1,818,182 1,527,086 - - - 3,000,000 ( 1,527,086 ) - 3,000,000 Debt discount on $ 0.01 Warrant Feature - - - - - - 402,781 - - 402,781 Debt
discount on $ 2.50 Warrant Feature - - - - - - 553,745 - - 553,745 Debt
discounts on convertible promissory notes - - - - - - - - 1,146,804 1,146,804 Accrued
preferred shares dividends payable - - ( 48,630 ) - - - - ( 984,176 ) - ( 1,032,806 ) Accrued
common share dividend - - - - - - - ( 242,160 ) - ( 242,160 ) Issuance
of common adjustment shares - - - - 398,838 399 757,393 - - 757,792 Redemption
of preferred shares - ( 2,633,278 ) ( 2,794,479 ) - - - - - - ( 2,794,479 ) Net
loss - - - - - - - ( 3,304,562 ) ( 176,190 ) ( 3,480,752 ) BALANCE
– December, 2021 $ 1,000 1,818,182 $ 1,655,404 $ ( 2,000,000 ) 4,842,851 $ 4,843 $ 21,719,410 $ ( 19,914,957 ) $ 91,375 $ 1,557,075 The
accompanying notes are an integral part of these consolidated financial statements F- 6 1847 HOLDINGS LLC CONSOLIDATED STATEMENTS OF CASH FLOWS Years
Ended December 31, 2021 2020 OPERATING ACTIVITIES Net
income (loss) $ ( 3,588,934 ) $ ( 9,658,769 ) Adjustments
to reconcile net loss to net cash provided by (used in) operating activiti Net income (loss) from discontinued
operations ( 132,223 ) 7,838,631 Gain
on disposition of subsidiary ( 3,282,804 ) - Depreciation
and amortization of intangibles 908,982 176,612 Stock
compensation - 523,936 Loss
on extinguishment of debt - 286,350 Amortization
of right of use asset 181,032 15,931 Change
in debt discounts 382,565 - Loss
on redemption of preferred shares 4,017,553 - Gain
on forgiveness of debt – PPP loan ( 360,302 ) - Gain
on sale of property and equipment ( 10,885 ) - Loss on write-down of contingent notes payable 602,204 - Changes
in operating assets and liabiliti Accounts

CURRENT LIABILITIES 12,432,466 8,083,830 Operating

lease liability – long term, net of current portion 2,607,862 291,183 Notes payable,

net of current portion 707,306 1,138,331 Vesting

note payable – related party 1,001,183 498,979 Convertible

promissory notes, net of discount 26,630,655 - Deferred

tax liability 2,070,000 - Discontinued

operations – long-term liabilities - 5,981,467 TOTAL

LIABILITIES $ 45,449,472 $ 15,993,790 SHAREHOLDERS’ EQUITY Allocation shares, 1,000 shares issued and outstanding 1,000 1,000 Series A convertible preferred shares, 1,818,182 and 2,632,278 outstanding as of December 31, 2021 and 2020, respectively 1,655,404 2,971,427 Distribution

receivable ( 2,000,000 ) ( 2,000,000 ) Common Shares, 500,000,000 shares authorized, 4,842,851 and 4,444,013 shares issued and outstanding as of December 31, 2021 and 2020, respectively 4,843 4,444 Additional

paid-in capital 21,719,410 17,005,491 Accumulated

deficit ( 19,914,957 ) ( 13,856,973 ) TOTAL

1847 HOLDINGS SHAREHOLDERS’ EQUITY 1,465,700 4,125,389 NON-CONTROLLING

INTERESTS 91,375 ( 879,239 ) TOTAL

SHAREHOLDERS’ EQUITY 1,557,075 3,246,150 TOTAL

LIABILITIES AND SHAREHOLDERS’ EQUITY $ 47,006,547 $ 19,239,940 The

accompanying notes are an integral part of these consolidated financial statements F- 4 1847 HOLDINGS LLC CONSOLIDATED STATEMENTS OF OPERATIONS Years

Ended December 31, 2021 2020 REVENUES Furniture

and appliances $ 12,741,064 $ 7,625,222 Construction 12,203,890 1,120,224 Automotive

supplies 5,716,030 - TOTAL REVENUE 30,660,984 8,745,446 OPERATING EXPENSES Cost of sales 20,311,724 6,531,435 Personnel 3,247,441 734,867 Depreciation

and amortization 908,982 176,612 General

and administrative 7,296,736 2,652,429 TOTAL

OPERATING EXPENSES 31,764,883 10,095,343 NET LOSS FROM OPERATIONS ( 1,103,899 ) ( 1,349,897 ) OTHER INCOME (EXPENSE) Gain

on forgiveness of debt 360,302 - Loss

on write-down of vesting note payable – related party ( 602,204 ) - Loss

on extinguishment of debt ( 137,692 ) ( 286,350 ) Loss

on redemption of preferred shares ( 4,017,553 ) - Gain

on disposition of subsidiary 3,282,804 - Gain

on sale of property and equipment 10,885 - Other

income and (expense) 876 ( 18,196 ) Interest

expense ( 1,296,537 ) ( 249,626 ) TOTAL

OTHER INCOME (EXPENSE) ( 2,399,119 ) ( 554,172 ) NET LOSS BEFORE INCOME TAXES ( 3,503,018 ) ( 1,904,069 ) INCOME

TAX BENEFIT (EXPENSE) ( 218,139 ) 83,931 NET

LOSS AFTER TAXES ( 3,721,157 ) ( 1,820,138 ) NET LOSS

FROM CONTINUING OPERATIONS $ ( 3,721,157 ) $ ( 1,820,138 ) NET LOSS FROM DISCONTINUED

OPERATIONS Income (loss) from discontinued

operations before income taxes 240,405 ( 12,875,463 ) Less

provision for income taxes for discontinued operations - - Net income (loss) from discontinued

operations 240,405 ( 12,875,463 ) Less

net income (loss) from discontinued operations attributable to noncontrolling interests 108,182 ( 5,036,832 ) Net income (loss) from discontinued

operations attributable to 1847 Holdings common shareholders 132,223 ( 7,838,631 ) NET LOSS $ ( 3,588,934 ) $ ( 9,658,769 ) LESS

NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTERESTS ( 284,372 ) ( 50,120 ) NET LOSS

AVAILABLE TO COMMON SHAREHOLDERS $ ( 3,304,562 ) $ ( 9,608,649 ) PREFERRED SHARE ACCRUED DIVIDEND ( 984,176 ) - 1847 GOEDEKER SPIN-OFF DIVIDEND - ( 283,257 ) DISTRIBUTION – ALLOCATION SHARES - ( 5,985,000 ) DEEMED

DIVIDEND RELATED TO ISSUANCE OF PREFERRED SHARES ( 1,527,086 ) ( 3,051,478 ) NET INCOME

(LOSS) ATTRIBUTABLE TO 1847 HOLDINGS SHAREHOLDERS $ ( 5,815,824 ) $ ( 18,928,384 ) Net loss

per common share from continuing operatio basic $ ( 0.78 ) $ ( 0.49 ) Net income

(loss) per common share from discontinued operatio basic $ 0.03 $ ( 2.12 ) Net loss

per common sh basic $ ( 0.70 ) $ ( 2.60 ) Net loss

per common share from continuing operatio diluted $ ( 0.78 ) $ ( 0.49 ) Net income

(loss) per common share from discontinued operatio diluted $ 0.01 $ ( 2.12 ) Net loss

per common sh diluted $ ( 0.70 ) $ ( 2.60 ) Weighted-average

common shares outstandin basic 4,749,971 3,692,429 Weighted-average

common shares outstandin diluted 11,175,892 3,692,429 The

accompanying notes are an integral part of these consolidated financial statements F- 5 1847 HOLDINGS LLC CONSOLIDATED STATEMENTS OF SHAREHOLDERS’

EQUITY (DEFICIT) Allocation Preferred

Shares Goedeker

Subscription Common

Shares Additional

Paid-In Accumulated Non-

Controlling Shareholders’

Equity Shares Shares Amount Receivable Shares Amount Capital Deficit Interest (Deficit) BALANCE – January 1, 2020 $ 1,000 - $ - $ - 3,165,625 $ 3,165 $ 442,014 $ ( 4,402,043 ) $ ( 42,930 ) $ ( 3,998,794 ) Common

shares issued in connection with acquisition - - - - 415,000 415 1,037,085 - - 1,037,500 Common

shares issued for service - - - - 100,000 100 244,900 - - 245,000 Common

shares issued upon partial conversion of convertible note payable - - - - 150,000 150 374,850 - - 375,000 Warrants

issued in connection with convertible note payable - - - - - - 448,211 - 118,500 566,711 Fair

value of stock options - - - - - - 191,386 - - 191,386 Common

shares issued in connection with Kyle’s acquisition - - - - 700,000 700 3,674,300 - - 3,675,000 Issuance

of warrants for services - - - - - - 87,550 - - 87,550 Common

shares issued upon warrant exercise - - - - 230,000 230 62,270 - - 62,500 Common

shares issued upon option exercise - - - - 77,500 78 149,922 - - 150,000 Purchase

of common shares from seller shares, cancellation of common shares held in treasury and common share dividend to non-controlling

interest - - - - ( 394,112 ) ( 394 ) ( 693,314 ) ( 57,442 ) - ( 751,150 ) Issuance

of preferred shares, net of fees - 2,633,278 2,794,477 - - - 5,001,317 ( 2,874,478 ) - 4,921,316 Dividend

on disposition of Goedeker - - - ( 2,000,000 ) - - 5,985,000 3,262,592 ( 359,078 ) 6,888,514 Accrued

dividends payable - - 176,950 - - - - ( 176,950 ) - - Net

loss - - - - - - - ( 9,608,652 ) ( 595,731 ) ( 10,204,383 ) BALANCE

– December 31, 2020 $ 1,000 2,633,278 $ 2,971,427 $ ( 2,000,000 ) 4,444,013 $ 4,444 $ 17,005,491 $ ( 13,856,973 ) $ ( 879,239 ) $ 3,246,150 Issuance

of Series A preferred shares, net of fees - 1,818,182 1,527,086 - - - 3,000,000 ( 1,527,086 ) - 3,000,000 Debt discount on $ 0.01 Warrant Feature - - - - - - 402,781 - - 402,781 Debt

discount on $ 2.50 Warrant Feature - - - - - - 553,745 - - 553,745 Debt

discounts on convertible promissory notes - - - - - - - - 1,146,804 1,146,804 Accrued

preferred shares dividends payable - - ( 48,630 ) - - - - ( 984,176 ) - ( 1,032,806 ) Accrued

common share dividend - - - - - - - ( 242,160 ) - ( 242,160 ) Issuance

of common adjustment shares - - - - 398,838 399 757,393 - - 757,792 Redemption

of preferred shares - ( 2,633,278 ) ( 2,794,479 ) - - - - - - ( 2,794,479 ) Net

loss - - - - - - - ( 3,304,562 ) ( 176,190 ) ( 3,480,752 ) BALANCE

– December, 2021 $ 1,000 1,818,182 $ 1,655,404 $ ( 2,000,000 ) 4,842,851 $ 4,843 $ 21,719,410 $ ( 19,914,957 ) $ 91,375 $ 1,557,075 The

accompanying notes are an integral part of these consolidated financial statements F- 6 1847 HOLDINGS LLC CONSOLIDATED STATEMENTS OF CASH FLOWS Years

Ended December 31, 2021 2020 OPERATING ACTIVITIES Net

income (loss) $ ( 3,588,934 ) $ ( 9,658,769 ) Adjustments

to reconcile net loss to net cash provided by (used in) operating activiti Net income (loss) from discontinued

operations ( 132,223 ) 7,838,631 Gain

on disposition of subsidiary ( 3,282,804 ) - Depreciation

and amortization of intangibles 908,982 176,612 Stock

compensation - 523,936 Loss

on extinguishment of debt - 286,350 Amortization

of right of use asset 181,032 15,931 Change

in debt discounts 382,565 - Loss

on redemption of preferred shares 4,017,553 - Gain

on forgiveness of debt – PPP loan ( 360,302 ) - Gain

on sale of property and equipment ( 10,885 ) - Loss on write-down of contingent notes payable 602,204 - Changes

in operating assets and liabiliti Accounts