La Rosa Holding Corp. Common Stock / "Tax" | Tables in SEC filings

LRHC La Rosa Holding Corp. Common Stock

Quarterly report

	Nine Months Ended September 30,
	2024		2023

Cash Flows from Operating Activities:
Net loss	$	(9,323,839)	$	(1,736,284)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation		4,054,821		79,341
Amortization and deprecation		725,866		—
Noncash lease expense		376,631		—
Change in fair value of derivatives		(218,998)		(138,985)
Amortization of debt discount and financing fees		455,289		927,319
Loss on extinguishment of debt		722,729		—
Non-cash interest expense		9,029		56,877
Provision for credit losses		82,099		17,826
Changes in Operating Assets and Liabilities:
Accounts receivable		(60,859)		132,513
Deposits and prepaid expenses		21,778		45,000
Accounts payable		752,181		(171,370)
Accrued expenses		452,988		145,013
Contract liabilities		72,365		—
Security deposits payable		329,859		191,965
Operating lease liabilities		(384,875)		—
Net Cash Used in Operating Activities		(1,932,936)		(450,785)
Cash Flows from Investing Activities:
Purchase of property, plant and equipment		(5,033)		—
Cash acquired through acquisition of businesses, net of $240,470 cash paid for acquisitions		24,947		—
Net Cash Provided by Investing Activities		19,914		—
Cash Flows from Financing Activities:
Borrowings on bank line of credit		223,578		293,523
Payments on bank line of credit		(147,881)		(277,695)
Proceeds from notes payable		2,889,869		—
Payments deferred debt issuance costs		(395,407)		—
Payments on notes payable		(949,556)		(280,951)
Proceeds from advances on future receipts		500,000		500,650
Payments on advances on future receipts		(521,463)		(326,250)
Payments on post-acquisition consideration		(120,000)		—
Payments related to the public offering		—		(595,108)
Payments to related party		—		(18,855)
Proceeds from issuance of preferred stock		—		1,523,000
Proceeds from issuance of common stock		1,951,768		—
Withholding tax paid on behalf of employees on stock based awards		(1,957)		—
Net Cash Provided by Financing Activities		3,428,951		818,314

Net Increase in Cash and Restricted Cash		1,515,929		367,529
Cash and Restricted Cash at Beginning of Period		2,443,827		1,529,922
Cash and Restricted Cash at End of Period	$	3,959,756	$	1,897,451

Supplemental Disclosures of Cash Flow Information:
Cash Paid During the Period for:
Interest	$	106,202	$	22,386
Taxes	$	—	$	—

Non-Cash Activities:
Derivative liability embedded in debt instruments	$	269,038	$	—
Issuance of 1,618,630 shares of common stock as consideration of acquisitions of businesses	$	2,412,774	$	—
Issuance of 1,081,030 shares of common stock as part of the issuance of notes payable	$	1,076,768	$	—
Issuance of 945,769 shares of common stock for services rendered	$	4,054,821	$	—
Issuance of 230,202 shares of common stock for accounts payable	$	150,000	$	—
Office leases acquired under operating lease obligations	$	796,573	$	—
Convertible debt and related party debt exchanged for 1,912 shares of Series A Convertible Preferred Stock	$	—	$	1,923,468
Decrease in accounts payable related to deferred offering costs	$	—	$	(77,204)
Value of 250,168 shares of common stock issued for deferred offering costs	$	—	$	1,250,840
Issuance of 30,000 shares of common stock as part of the repayment of the OID Note	$	—	$	150,000
Settlement of conversion rights	$	—	$	410,144

Reconciliation of Cash and Restricted Cash
Cash	$	1,811,608	$	350,276
Restricted Cash		2,148,148		1,547,175
Cash and Restricted Cash	$	3,959,756	$	1,897,451

	Fiscal Year Ended December 31,
	2023		2022
Audit Fees	$	288,470	$	486,675
Audit-Related Fees	$	184,232	$	20,256
Tax Fees	$	—	$	—
All Other Fees	$	—	$	—
Total	$	472,702	$	506,931

	December 31,
	2023		2022
Net operating loss carryforwards	$	1,251,958	$	629,968
Stock compensation		1,351,444		58,474
Basis adjustment on acquired assets		(1,043,064)		—
Right of use assets		(174,299)		—	Lease liability	178,362	—
Allowance for bad debt		5,374		—
Charitable contributions		7,528		—
Deferred tax assets, before valuation allowance		1,577,303		688,442
Valuation allowances		(1,577,303)		(688,442)
Deferred tax assets, net of valuation allowance	$	—	$	—

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