2023 Q4 Form 10-Q Financial Statement

#000157587223001807 Filed on November 20, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2023 Q2
Revenue $11.44M $6.792M $7.490M
YoY Change 90.65% 10.77% 0.67%
Cost Of Revenue $10.47M $6.217M $6.820M
YoY Change 84.3% 11.36% 1.34%
Gross Profit $970.7K $575.5K $670.0K
YoY Change 203.35% 4.78% -5.63%
Gross Profit Margin 8.49% 8.47% 8.95%
Selling, General & Admin $6.939M $993.0K $960.0K
YoY Change 567.24% -16.28% -17.95%
% of Gross Profit 714.85% 172.54% 143.28%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $73.13K
YoY Change
% of Gross Profit 7.53%
Operating Expenses $6.939M $993.0K $960.0K
YoY Change 567.24% -16.28% -17.95%
Operating Profit -$5.969M -$417.5K -$290.0K
YoY Change 728.96% -34.45% -36.96%
Interest Expense -$126.7K -$204.7K -$110.0K
YoY Change -69.09% 241.08% 175.0%
% of Operating Profit
Other Income/Expense, Net $7.810K $73.61K $0.00
YoY Change -126.03% -232.52% -100.0%
Pretax Income -$6.087M -$343.8K -$400.0K
YoY Change 424.78% -50.34% 21.21%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$7.555M -$343.8K -$400.0K
YoY Change 647.99% -50.34% 21.21%
Net Earnings / Revenue -66.04% -5.06% -5.34%
Basic Earnings Per Share -$0.06 -$0.07
Diluted Earnings Per Share -$0.69 -$0.06 -$0.03
COMMON SHARES
Basic Shares Outstanding 11.39M 6.181M 6.004M shares
Diluted Shares Outstanding 6.181M 6.004M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $959.6K $350.3K $290.0K
YoY Change 699.67% 400.4% 625.0%
Cash & Equivalents $959.6K $350.3K $292.7K
Short-Term Investments
Other Short-Term Assets $1.484M $1.547M $1.540M
YoY Change 3198.27% 19.01% 26.23%
Inventory
Prepaid Expenses
Receivables $826.4K $274.2K $230.0K
Other Receivables $0.00 $45.41K $50.00K
Total Short-Term Assets $3.270M $2.217M $2.110M
YoY Change 60.23% 28.9% 30.25%
LONG-TERM ASSETS
Property, Plant & Equipment $702.5K
YoY Change
Goodwill $5.703M
YoY Change
Intangibles $4.632M
YoY Change
Long-Term Investments
YoY Change
Other Assets $21.27K $21.27K $2.180M
YoY Change -73.18% -98.65% 4.31%
Total Long-Term Assets $11.06M $3.550M $2.180M
YoY Change 501.1% 124.71% 3.81%
TOTAL ASSETS
Total Short-Term Assets $3.270M $2.217M $2.110M
Total Long-Term Assets $11.06M $3.550M $2.180M
Total Assets $14.33M $5.768M $4.290M
YoY Change 269.23% 74.77% 15.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.147M $1.217M $1.280M
YoY Change -24.73% -19.38% 5.79%
Accrued Expenses $868.1K $608.2K $700.0K
YoY Change 66.22% 73.78% 180.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $197.0K $210.0K
YoY Change -100.0% -70.15% -70.42%
Long-Term Debt Due $4.400K $253.2K $480.0K
YoY Change -98.24% -12.69% 1100.0%
Total Short-Term Liabilities $2.097M $3.083M $3.410M
YoY Change -54.85% -21.94% -4.75%
LONG-TERM LIABILITIES
Long-Term Debt $615.1K $354.5K $360.0K
YoY Change 70.87% -4.18% -2.7%
Other Long-Term Liabilities $1.850M $1.607M $1.550M
YoY Change 5.73% -11.21% 29.17%
Total Long-Term Liabilities $2.465M $1.962M $1.910M
YoY Change 16.58% -10.02% 21.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.097M $3.083M $3.410M
Total Long-Term Liabilities $2.465M $1.962M $1.910M
Total Liabilities $8.419M $5.045M $5.320M
YoY Change 24.56% -17.7% 3.3%
SHAREHOLDERS EQUITY
Retained Earnings -$12.11M -$6.026M
YoY Change 182.28%
Common Stock $18.02M $6.748M
YoY Change 1176.66%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.910M $722.5K -$1.035M
YoY Change
Total Liabilities & Shareholders Equity $14.33M $5.768M $4.290M
YoY Change 269.23% 74.77% 15.32%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$7.555M -$343.8K -$400.0K
YoY Change 647.99% -50.34% 21.21%
Depreciation, Depletion And Amortization $73.13K
YoY Change
Cash From Operating Activities -$1.444M -$290.8K $110.0K
YoY Change 167.34% -60.17% 0.0%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$141.7K
YoY Change
Cash From Investing Activities -$141.7K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.132M 358.3K -10.00K
YoY Change 204.54% -57.85% -97.14%
NET CHANGE
Cash From Operating Activities -1.444M -290.8K 110.0K
Cash From Investing Activities -141.7K
Cash From Financing Activities 2.132M 358.3K -10.00K
Net Change In Cash 546.4K 67.52K 100.0K
YoY Change 241.49% -43.73% -141.67%
FREE CASH FLOW
Cash From Operating Activities -$1.444M -$290.8K $110.0K
Capital Expenditures
Free Cash Flow
YoY Change

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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accrued Liabilities
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lrhc Increase Decrease In Securities Deposit Payable Current
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us-gaap Payments Of Financing Costs
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us-gaap Repayments Of Related Party Debt
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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367529
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1897451
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Debt Conversion Converted Instrument Amount1
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1923468
lrhc Deferred Offered Costs Incurred Paid During The Period
DeferredOfferedCostsIncurredPaidDuringThePeriod
-77204
lrhc Deferred Offered Costs Incurred Paid During The Period
DeferredOfferedCostsIncurredPaidDuringThePeriod
579439
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lrhc Issuance Of Shares Of Common Stock As Part Of The Repayment Of Note
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410144
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2023Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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CY2022Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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1295500
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1897451
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1362461
us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; line-height: 12pt; background: none;;text-indent: 0px;"><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">NOTE 1 - DESCRIPTION OF BUSINESS AND NATURE OF OPERATIONS</div></div><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0px 0px 0px 0.4in; text-align: justify; text-indent: -0.2in; line-height: 12pt; background: none;"><div style="white-space: pre-wrap; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0px 0px 0px 0.4in; text-align: justify; text-indent: -0.2in; line-height: 12pt; background: none;"><div style="white-space:pre-line; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Nature of Organization </div></div><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0px 0px 0px 0.5in; text-align: justify; line-height: 12pt; background: none;;text-indent: 0px;"><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">La Rosa Holdings Corp. (the “Company”) is the holding company for five agent-centric, technology-integrated, cloud-based, multi-service real estate </div><div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; color: rgb(0, 0, 0); line-height: 12pt; background: none; letter-spacing: 0px; top: 0px;;display:inline;">segments</div><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">. In addition to providing person-to-person residential and commercial real estate brokerage services to the public, the Company cross sells ancillary technology-based products and services primarily to sales agents and the sales agents associated with the Company’s franchisees. The business is organized based on the services provided internally to agents and to the public, which are residential and commercial real estate brokerages, franchising, real estate brokerage education and coaching, and property management services.</div></div><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0px 0px 0px 0.4in; text-align: justify; text-indent: -0.2in; line-height: 12pt; background: none;"><div style="white-space: pre-wrap; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0px 0px 0px 0.2in; text-align: justify; line-height: 12pt; background: none;;text-indent: 0px;"><div style="white-space:pre-line; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Liquidity </div></div><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0px 0px 0px 0.5in; text-align: justify; line-height: 12pt; background: none;;text-indent: 0px;"><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">During the first nine months of fiscal year 2023, the Company effectuated a number of transactions that significantly increased the Company’s liquidity since its position on December 31, 2022. The Company issued 1,523 shares of Series A Convertible Preferred Stock to 77 investors in a private placement pursuant to Regulation D under the Securities Act, raising $1,523,000. The Company also exchanged convertible debt with an outstanding balance of $598,836, including accrued interest of $87,836, for 591 shares of Series A Preferred Stock. On March 27, 2023, the Company exchanged a portion of its related party debt with an outstanding gross balance of $1,324,631, excluding debt discount of $469,785, but including accrued interest of $28,101, for 1,321 shares of Series A Preferred Stock. And on December 31, 2022, a loan of $556,268 from Celebration Office Condos LLC, a company owned by Mr. La Rosa, was forgiven for one share of Series A Preferred Stock that was issued in the first quarter of fiscal year 2023. See Note 6 – Equity for additional information on the Series A Convertible Preferred Stock.</div></div><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0px 0px 0px 0.5in; text-align: justify; line-height: 12pt; background: none;;text-indent: 0px;"><div style="white-space: pre-wrap; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; line-height: 12pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div> </div></div><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0px 0px 0px 0.5in; text-align: justify; line-height: 12pt; background: none;;text-indent: 0px;"><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">On September 30, 2023, the Company had a cash balance of $350,276 and negative working capital of ($866,384). On October 12, 2023, the Company completed an initial public offering (“IPO”) and sold 1,000,000 shares of its common stock, par value $0.0001, at a price to the public of $5.00 per share, resulting in gross proceeds of $5,000,000. The Company received net proceeds of $4,360,000 after underwriter discounts, commissions, and expenses. The Company also reclassified $3,529,192 of deferred offering costs as of September 30, 202<div style="letter-spacing: 0px; top: 0px;;display:inline;">3</div> to additional paid in capital upon completing the IPO. The Company used the proceeds to </div><div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; color: rgb(0, 0, 0); line-height: 12pt; background: none; letter-spacing: 0px; top: 0px;;display:inline;">satisfy</div><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"> existing debt and accrued interest </div><div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; color: rgb(0, 0, 0); line-height: 12pt; background: none; letter-spacing: 0px; top: 0px;;display:inline;">in the aggregate amount </div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">of approximately $375,000, related party debt of approximately $150,000, <div style="letter-spacing: 0px; top: 0px;;display:inline;">and </div>existing accounts payable of $1,000,000</div><div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; color: rgb(0, 0, 0); line-height: 12pt; background: none; letter-spacing: 0px; top: 0px;;display:inline;">., On October 13, 2023 and on October 16, 2023, the Company acquired controlling interests in two of its franchisees: Horeb Kissimmee Realty, LLC and La Rosa Realty Lake Nona, Inc., for a total consideration of $4,743,127, including $550,000 in cash from the proceeds of the IPO, with the remainder in common stock. See Note 8 – Subsequent Events for additional information regarding the acquisitions.</div></div><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0px 0px 0px 0.5in; text-align: justify; line-height: 12pt; background: none;;text-indent: 0px;"><div style="white-space: pre-wrap; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; line-height: 12pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0px 0px 0px 0.5in; text-align: justify; line-height: 12pt; background: none;;text-indent: 0px;"><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The Company is subject to the risks and challenges associated with companies at a similar stage of development. These include dependence on key individuals, successful development and marketing of its offerings, and competition with larger companies with greater financial, technical, and marketing resources. Furthermore, during the period required to achieve substantially higher revenue in order to become consistently profitable, the Company may require additional funds that might not be readily available or might not be on terms that are acceptable to the Company. Until such time that the Company implements its growth strategy, it expects to continue to generate operating losses in the foreseeable future, mostly due to corporate overhead and costs of being a public company. The Company believes that its existing working capital and cash on hand<div style="letter-spacing: 0px; top: 0px;;display:inline;"> after completing its IPO </div></div> <div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"> will provide sufficient cash to enable the Company to meet its operating needs and debt requirements for the next twelve months from the issuance date of this report.</div></div>
CY2023Q3 us-gaap Cash
Cash
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CY2023Q3 lrhc Net Current Assets
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StockholdersEquityReverseStockSplit
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<div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0px 0px 0px 0.13in; text-align: justify; line-height: 12pt; background: none;"><div style="font-size: 10pt; line-height: 12pt; background: none; letter-spacing: 0px; top: 0px;;display:inline;">Use of Estimates</div></div><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0px 0px 0px 0.5in; text-align: justify; line-height: 12pt; background: none;"><div style="font-size: 10pt; line-height: 12pt; background: none; letter-spacing: 0px; top: 0px;;display:inline;">The preparation of the Company’s condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s significant estimates include allowance for doubtful accounts and assumptions used to determine fair value of warrants and other equity instruments, the embedded conversion features of the convertible notes, and the fair value of acquisitions, including intangible assets.</div></div><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0px 0px 0px 0.4in; text-indent: -0.25in; line-height: 12pt; background: none;"><div style="white-space-collapse: preserve; font-size: 10pt; line-height: 12pt; background: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0px 0px 0px 0.13in; text-align: justify; line-height: 12pt; background: none;"><div style="font-size: 10pt; line-height: 12pt; background: none; letter-spacing: 0px; top: 0px;;display:inline;">Reclassifications</div></div><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0px 0px 0px 0.5in; text-align: justify; line-height: 12pt; background: none;"><div style="font-size: 10pt; line-height: 12pt; background: none; letter-spacing: 0px; top: 0px;;display:inline;">Certain reclassifications have been made to data presented in the 2022 financial statements to conform with the 2023 financial statement presentation.</div></div>
us-gaap Concentration Risk Credit Risk
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<div style="margin: 0px 0px 0px 9.35pt; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; background: none;"><div style="display:inline;"><div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; line-height: 12pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Concentrations of Credit Risk</div></div></div><div style="margin: 0px 0px 0px 0.5in; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt; background: none;"><div style="display:inline;"><div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; line-height: 12pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;text-indent: 0px;;display:inline;">The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and trade accounts receivable. Although the Company limits its exposure to credit loss by depositing its cash with established financial institutions that management believes have good credit ratings and represent minimal risk of loss of principal, the Company’s deposits, at times, may exceed federally insured limits. Collateral is not required for accounts receivable, and the Company believes the carrying value approximates fair value.</div></div></div>
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CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
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CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
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DeferredOfferingCosts
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CY2022Q4 us-gaap Deferred Offering Costs
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CY2023Q3 us-gaap Debt Related Commitment Fees And Debt Issuance Costs
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CY2022Q3 us-gaap Debt Related Commitment Fees And Debt Issuance Costs
DebtRelatedCommitmentFeesAndDebtIssuanceCosts
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us-gaap Debt Related Commitment Fees And Debt Issuance Costs
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us-gaap Debt Related Commitment Fees And Debt Issuance Costs
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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20320606
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CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2022Q3 us-gaap Advertising Expense
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us-gaap Advertising Expense
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us-gaap Advertising Expense
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
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CY2022Q4 us-gaap Notes Payable
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CY2022Q4 us-gaap Notes Payable Current
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CY2022Q4 us-gaap Long Term Notes Payable
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CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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CY2023Q3 lrhc Long Term Debt Maturities Repayments After Year Four
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CY2023Q3 us-gaap Debt Instrument Carrying Amount
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
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5
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
30000
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
5
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
0
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
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
60000
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
5
CY2023Q3 us-gaap Revenues
Revenues
6792250
CY2022Q3 us-gaap Revenues
Revenues
6131892
us-gaap Revenues
Revenues
20320606
us-gaap Revenues
Revenues
20206673
CY2023Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
6216751
CY2022Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
5582663
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
18450162
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
17998181
CY2023Q3 us-gaap Gross Profit
GrossProfit
575499
CY2022Q3 us-gaap Gross Profit
GrossProfit
549229
us-gaap Gross Profit
GrossProfit
1870444
us-gaap Gross Profit
GrossProfit
2208492
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6792250
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6131892
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
20320606
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
20206673

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0001575872-23-001807.txt Edgar Link pending
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cm444_ex31-1.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
lrhc-20230930.htm Edgar Link pending
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lrhc-20230930_pre.xml Edgar Link unprocessable
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