$BACK
IMAC Holdings, Inc.

2023 Q1 Form 10-K Financial Statement

#000149315223010385 Filed on March 31, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $2.093M $3.470M $16.19M
YoY Change -46.26% -20.57% 12.51%
Cost Of Revenue $270.0K $370.0K $1.510M
YoY Change -41.36% -36.83% -7.26%
Gross Profit $1.830M $3.100M $14.68M
YoY Change -46.72% -18.05% 15.07%
Gross Profit Margin 87.42% 89.34% 90.7%
Selling, General & Admin $3.890M $5.330M $22.90M
YoY Change -36.07% -13.31% 8.75%
% of Gross Profit 212.57% 171.94% 155.99%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $189.8K $260.0K $1.627M
YoY Change -57.51% -22.3% -1.37%
% of Gross Profit 10.37% 8.39% 11.08%
Operating Expenses $5.790M $5.590M $34.47M
YoY Change -11.37% -13.77% 51.79%
Operating Profit -$3.696M -$2.490M -$18.28M
YoY Change 19.33% -7.78% 83.74%
Interest Expense $2.467K $0.00 $14.19K
YoY Change -159.73% -100.0% -102.83%
% of Operating Profit
Other Income/Expense, Net -$2.467K $10.00K -$32.51K
YoY Change -81.27% 8990.91% -13647.08%
Pretax Income -$3.699M -$6.970M -$18.31M
YoY Change 16.97% 141.89% 73.71%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$3.700M -$6.970M -$18.30M
YoY Change 17.01% 44.14% 73.59%
Net Earnings / Revenue -176.75% -200.86% -113.06%
Basic Earnings Per Share -$0.11 -$0.65
Diluted Earnings Per Share -$3.36 -$6.44 -$19.47
COMMON SHARES
Basic Shares Outstanding 33.02M shares 32.75M shares 28.27M shares
Diluted Shares Outstanding 1.100M shares 942.5K shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $390.0K $760.0K $760.0K
YoY Change -90.88% -89.32% -89.32%
Cash & Equivalents $390.1K $763.2K
Short-Term Investments
Other Short-Term Assets $197.0K $367.4K $560.0K
YoY Change -70.91% -32.91% -24.24%
Inventory
Prepaid Expenses
Receivables $1.077M $2.881M $2.880M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.802M $4.208M $4.210M
YoY Change -73.01% -53.59% -53.57%
LONG-TERM ASSETS
Property, Plant & Equipment $683.5K $1.585M $5.210M
YoY Change -90.14% -31.79% -28.35%
Goodwill
YoY Change
Intangibles $1.200M $1.365M
YoY Change -76.45%
Long-Term Investments
YoY Change
Other Assets $250.0K $5.289M $300.0K
YoY Change -33.91% 1127.51% -30.37%
Total Long-Term Assets $4.040M $6.874M $6.870M
YoY Change -76.94% -62.15% -62.17%
TOTAL ASSETS
Total Short-Term Assets $1.802M $4.208M $4.210M
Total Long-Term Assets $4.040M $6.874M $6.870M
Total Assets $5.843M $11.08M $11.08M
YoY Change -75.86% -59.3% -59.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.940M $1.700M $1.700M
YoY Change -35.76% -32.54% -32.54%
Accrued Expenses $1.000M $1.370M $1.370M
YoY Change -32.08% -7.32% -7.32%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $60.00K $70.00K $70.00K
YoY Change -46.46% -74.41% -74.41%
Total Short-Term Liabilities $3.532M $3.714M $3.710M
YoY Change -32.57% -24.73% -24.81%
LONG-TERM LIABILITIES
Long-Term Debt $50.00K $2.717M $60.00K
YoY Change -55.27% 1927.71% -55.21%
Other Long-Term Liabilities $1.270M $2.650M $2.650M
YoY Change -67.25% -37.03% -37.03%
Total Long-Term Liabilities $1.320M $2.717M $2.710M
YoY Change -66.91% -37.44% -37.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.532M $3.714M $3.710M
Total Long-Term Liabilities $1.320M $2.717M $2.710M
Total Liabilities $4.846M $6.430M $6.430M
YoY Change -47.49% -30.68% -30.68%
SHAREHOLDERS EQUITY
Retained Earnings -$50.22M -$46.52M
YoY Change 64.92%
Common Stock $33.02K $32.94K
YoY Change 25.62%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $997.0K $4.651M $4.650M
YoY Change
Total Liabilities & Shareholders Equity $5.843M $11.08M $11.08M
YoY Change -75.86% -59.3% -59.31%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$3.700M -$6.970M -$18.30M
YoY Change 17.01% 44.14% 73.59%
Depreciation, Depletion And Amortization $189.8K $260.0K $1.627M
YoY Change -57.51% -22.3% -1.37%
Cash From Operating Activities -$1.400M -$2.070M -$10.30M
YoY Change -42.72% 11.9% 35.69%
INVESTING ACTIVITIES
Capital Expenditures $40.00K $331.4K
YoY Change -112.31% -143.41%
Acquisitions
YoY Change
Other Investing Activities $1.050M $0.00 $70.00K
YoY Change 50870.87% -100.0% -104.13%
Cash From Investing Activities $1.050M -$40.00K -$260.0K
YoY Change -585.93% -96.93% -89.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $4.472M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$5.529K 50.00K $4.199M
YoY Change -96.99% -105.41% -71.13%
NET CHANGE
Cash From Operating Activities -$1.400M -2.070M -$10.30M
Cash From Investing Activities $1.050M -40.00K -$260.0K
Cash From Financing Activities -$5.529K 50.00K $4.199M
Net Change In Cash -$373.1K -2.060M -$6.356M
YoY Change -86.88% -49.45% -241.4%
FREE CASH FLOW
Cash From Operating Activities -$1.400M -$2.070M -$10.30M
Capital Expenditures $40.00K $331.4K
Free Cash Flow -$1.400M -$2.110M -$10.63M
YoY Change -37.1% 38.38% 55.71%

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CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1626614 usd
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1649187 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
444503 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
570513 usd
CY2022 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-98116 usd
CY2021 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-149464 usd
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
8333687 usd
CY2021 IMAC Gain On Lease Modification
GainOnLeaseModification
57086 usd
CY2021 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
312857 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1671906 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-304350 usd
CY2022 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-180178 usd
CY2021 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
158834 usd
CY2022 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
56620 usd
CY2021 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
36357 usd
CY2022 IMAC Increase Decrease In Right Of Uselease Liability
IncreaseDecreaseInRightOfUseleaseLiability
149631 usd
CY2021 IMAC Increase Decrease In Right Of Uselease Liability
IncreaseDecreaseInRightOfUseleaseLiability
162797 usd
CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-820592 usd
CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
281428 usd
CY2022 IMAC Increase Decrease In Patient Deposits
IncreaseDecreaseInPatientDeposits
-79251 usd
CY2021 IMAC Increase Decrease In Patient Deposits
IncreaseDecreaseInPatientDeposits
25846 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-10294468 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7590962 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
331382 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
694376 usd
CY2021 IMAC Payment To Brand Development
PaymentToBrandDevelopment
69070 usd
CY2021 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
1718500 usd
CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
71400 usd
CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
24450 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-259982 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2457496 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4472219 usd
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
19005323 usd
CY2022 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
254488 usd
CY2021 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
4436375 usd
CY2022 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
19050 usd
CY2021 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
25462 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4198681 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
14543486 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-6355769 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
4495058 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
7118980 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2623952 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
763211 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
7118980 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
14191 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
239011 usd
CY2021 IMAC Business Acquisition Via Stock Issuance
BusinessAcquisitionViaStockIssuance
1200000 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84D_eus-gaap--UseOfEstimates_zMiJnv2JHNX8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span style="text-decoration: underline"><span id="xdx_861_zp4Oj1dZVvnb">Use of Estimates</span></span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses at the date and for the periods that the consolidated financial statements are prepared. On an ongoing basis, the Company evaluates its estimates, including those related to insurance adjustments and provisions for doubtful accounts. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could materially differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
CY2022 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_843_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zyQcKeKcKgUh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span style="text-decoration: underline"><span id="xdx_864_z05sZgUR5Y4e">Reclassifications</span></span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations. Specifically, we reclassified share-based compensation to salaries and benefits.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p>
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2021Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2022Q1 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
34000 usd
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
4500000 usd
CY2022Q1 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
34000 usd
CY2022Q1 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
34000 usd
CY2022 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
1100000 usd
CY2021 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
1325000 usd
CY2022Q4 IMAC Working Capital
WorkingCapital
500000 usd
CY2021Q4 IMAC Working Capital
WorkingCapital
4100000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-18300000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-10300000 usd
CY2022Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2022Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
3044718 usd
CY2021Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
1290312 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
163479 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
80979 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2881239 usd
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1209333 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5053769 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4937790 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3476977 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2990902 usd
CY2022Q4 IMAC Property And Equipment Excluding Construction
PropertyAndEquipmentExcludingConstruction
1576792 usd
CY2021Q4 IMAC Property And Equipment Excluding Construction
PropertyAndEquipmentExcludingConstruction
1946888 usd
CY2022Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
7922 usd
CY2021Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
376275 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1584714 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2323163 usd
CY2022 us-gaap Depreciation
Depreciation
867364 usd
CY2021 us-gaap Depreciation
Depreciation
761034 usd
CY2022Q4 us-gaap Goodwill Gross
GoodwillGross
4499796 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-4499796 usd
CY2022Q4 IMAC Intangible Assets Including Goodwill Gross
IntangibleAssetsIncludingGoodwillGross
13221015 usd
CY2022Q4 IMAC Intangible Assets Accumulated Amortization Including Goodwill
IntangibleAssetsAccumulatedAmortizationIncludingGoodwill
11855558 usd
CY2022Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
1365457 usd
CY2021Q4 us-gaap Goodwill Gross
GoodwillGross
4661796 usd
CY2021Q4 us-gaap Goodwill
Goodwill
4661796 usd
CY2021Q4 IMAC Intangible Assets Including Goodwill Gross
IntangibleAssetsIncludingGoodwillGross
13355897 usd
CY2021Q4 IMAC Intangible Assets Accumulated Amortization Including Goodwill
IntangibleAssetsAccumulatedAmortizationIncludingGoodwill
2896632 usd
CY2021Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
10459265 usd
CY2022Q1 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
34000 usd
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
4500000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
759250 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
888153 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
241227 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
180477 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
180477 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
180477 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
180477 usd
CY2022Q4 IMAC Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
158572 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1121707 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3623078 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4948393 usd
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
1622466 usd
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
1333916 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1545103 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1152928 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
887061 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
628509 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
137383 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
81691 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4432675 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
410555 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
4022120 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1368016 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2654104 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
104696 usd
CY2021Q4 us-gaap Notes Payable
NotesPayable
359184 usd
CY2022Q4 us-gaap Notes Payable Current
NotesPayableCurrent
51657 usd
CY2021Q4 us-gaap Notes Payable Current
NotesPayableCurrent
254487 usd
CY2022Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
53039 usd
CY2021Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
104697 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
51657 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
27631 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
15813 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
9595 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
104696 usd
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
60000000 shares
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
30000000 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
360169 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.43
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y4M6D
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
49000 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.60
CY2021 IMAC Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term Granted
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTermGranted
P3Y4M24D
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
42118 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.92
CY2021 IMAC Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term Cancelled
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTermCancelled
P1Y5M8D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
367051 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.23
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y6M29D
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
30585 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.26
CY2022 IMAC Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term Cancelled
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTermCancelled
P1Y7M24D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
336466 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.23
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y9M
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
440625 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
1.83
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
27000 shares
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.56
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
206875 shares
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
1.56
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
260750 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
2.02
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
912000 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.51
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
446875 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
0.96
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
5000 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
0.44
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
720875 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
0.78
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
20738 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
20880 usd
CY2022Q4 us-gaap Deferred Tax Assets Charitable Contribution Carryforwards
DeferredTaxAssetsCharitableContributionCarryforwards
3000 usd
CY2021Q4 us-gaap Deferred Tax Assets Charitable Contribution Carryforwards
DeferredTaxAssetsCharitableContributionCarryforwards
3020 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
7778105 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
6049391 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
2294317 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
1887147 usd
CY2022Q4 IMAC Deferred Tax Assets Tax Amortization
DeferredTaxAssetsTaxAmortization
2029833 usd
CY2022Q4 IMAC Deferred Tax Assets Tax Non Qualified Stock Options
DeferredTaxAssetsTaxNonQualifiedStockOptions
459093 usd
CY2021Q4 IMAC Deferred Tax Assets Tax Non Qualified Stock Options
DeferredTaxAssetsTaxNonQualifiedStockOptions
349328 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
12585086 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
8309766 usd
CY2022Q4 IMAC Deferred Tax Liabilities Depreciation
DeferredTaxLiabilitiesDepreciation
-2914 usd
CY2021Q4 IMAC Deferred Tax Liabilities Depreciation
DeferredTaxLiabilitiesDepreciation
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CY2021Q4 IMAC Deferred Tax Liabilities Amortization
DeferredTaxLiabilitiesAmortization
119004 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
2914 usd
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
319742 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
12582172 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7990024 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100 pure
CY2022 IMAC Effective Income Tax Rate Reconciliation At Permanent Differences
EffectiveIncomeTaxRateReconciliationAtPermanentDifferences
-0.0001 pure
CY2021 IMAC Effective Income Tax Rate Reconciliation At Permanent Differences
EffectiveIncomeTaxRateReconciliationAtPermanentDifferences
-0.0001 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.0000 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.0000 pure
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0000 pure
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0000 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.2520 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.2577 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0461 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0478 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
-0.0040 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
0.0000 pure
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0000 pure
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0000 pure
CY2022Q4 us-gaap Assets Current
AssetsCurrent
4207927 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1584714 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
5288965 usd
CY2022Q4 us-gaap Assets
Assets
11081606 usd
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
3713832 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2716518 usd
CY2022Q4 us-gaap Liabilities
Liabilities
6430350 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-46519740 usd

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imac-20221231_def.xml Edgar Link unprocessable
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0001493152-23-010385-index.html Edgar Link pending
0001493152-23-010385.txt Edgar Link pending
0001493152-23-010385-xbrl.zip Edgar Link pending
ex21-1.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
form10-k.htm Edgar Link pending
imac-20221231.xsd Edgar Link pending
imac-20221231_cal.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
form10-k_htm.xml Edgar Link completed
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imac-20221231_pre.xml Edgar Link unprocessable
imac-20221231_lab.xml Edgar Link unprocessable
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