2024 Q2 Form 10-Q Financial Statement

#000095017024060058 Filed on May 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $15.65M $11.41M $198.9K
YoY Change 1089.65% 5633.84% 311.27%
Cost Of Revenue $6.641M $6.777M $76.68K
YoY Change 146.34% 8737.87% 61.47%
Gross Profit $9.007M $4.629M $122.3K
YoY Change -752.47% 3686.86% 13792.05%
Gross Profit Margin 57.56% 40.59% 61.45%
Selling, General & Admin $4.117M $3.691M $949.2K
YoY Change 279.28% 288.81% -31.41%
% of Gross Profit 45.71% 79.72% 776.46%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $199.8K $167.0K $76.22K
YoY Change 152.26% 119.1% 4.48%
% of Gross Profit 2.22% 3.61% 62.35%
Operating Expenses $4.122M $3.700M $1.025M
YoY Change 277.16% 260.84% -29.24%
Operating Profit $4.885M $929.3K -$903.2K
YoY Change -297.51% -202.89% -37.64%
Interest Expense $599.7K $418.7K $498.3K
YoY Change -29.24% -15.99% -580.14%
% of Operating Profit 12.28% 45.05%
Other Income/Expense, Net -$1.292M -$418.7K -$498.3K
YoY Change 52.45% -15.99% 380.12%
Pretax Income $3.593M $510.6K -$1.402M
YoY Change -208.2% -136.43% -9.7%
Income Tax $257.9K $0.00 $0.00
% Of Pretax Income 7.18% 0.0%
Net Earnings $3.335M $510.6K -$1.402M
YoY Change -200.43% -136.43% -9.7%
Net Earnings / Revenue 21.31% 4.48% -704.53%
Basic Earnings Per Share $0.35 $0.08 -$0.29
Diluted Earnings Per Share $0.29 $0.06 -$0.29
COMMON SHARES
Basic Shares Outstanding 10.14M 6.060M 4.847M shares
Diluted Shares Outstanding 11.39M 7.973M 4.847M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.37M $6.815M $348.4K
YoY Change 4805.14% 1855.96% -80.8%
Cash & Equivalents $14.37M $6.815M $348.4K
Short-Term Investments
Other Short-Term Assets $1.320M $1.317M $81.03K
YoY Change 1001.64% 1525.5% 18.5%
Inventory $10.32M $5.138M $2.183M
Prepaid Expenses $170.1K $512.2K $81.03K
Receivables $6.197M $2.935M $13.95K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $32.21M $16.21M $2.626M
YoY Change 1464.71% 517.06% -28.39%
LONG-TERM ASSETS
Property, Plant & Equipment $8.704M $7.306M $5.171M
YoY Change 66.04% 41.29% 30.39%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.358M $358.0K $24.00K
YoY Change 2210.63% 1391.46% 140.0%
Other Assets $35.00K
YoY Change
Total Long-Term Assets $27.98M $11.70M $6.439M
YoY Change 328.67% 81.67% -29.79%
TOTAL ASSETS
Total Short-Term Assets $32.21M $16.21M $2.626M
Total Long-Term Assets $27.98M $11.70M $6.439M
Total Assets $60.19M $27.90M $9.065M
YoY Change 601.05% 207.81% -29.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.782M $894.0K $289.5K
YoY Change 373.48% 208.77% -13.46%
Accrued Expenses $1.379M $1.033M $381.2K
YoY Change 109.73% 170.91% 132.8%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $832.8K $2.972M
YoY Change 183.06%
Total Short-Term Liabilities $6.283M $6.544M $725.0K
YoY Change 354.01% 802.66% 45.49%
LONG-TERM LIABILITIES
Long-Term Debt $2.107M $4.920M $4.644M
YoY Change -58.96% 5.94% 192.93%
Other Long-Term Liabilities $16.78M $3.538M $1.287M
YoY Change 1218.84% 174.86% -4.05%
Total Long-Term Liabilities $18.89M $8.458M $5.932M
YoY Change 194.85% 42.6% 102.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.283M $6.544M $725.0K
Total Long-Term Liabilities $18.89M $8.458M $5.932M
Total Liabilities $25.17M $15.00M $6.657M
YoY Change 223.13% 125.38% 94.34%
SHAREHOLDERS EQUITY
Retained Earnings -$54.89M -$58.23M -$57.08M
YoY Change -9.12% 2.01%
Common Stock $10.25K $6.576K $4.847K
YoY Change 110.46% 35.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $35.02M $12.90M $2.409M
YoY Change
Total Liabilities & Shareholders Equity $60.19M $27.90M $9.065M
YoY Change 601.05% 207.81% -29.39%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income $3.335M $510.6K -$1.402M
YoY Change -200.43% -136.43% -9.7%
Depreciation, Depletion And Amortization $199.8K $167.0K $76.22K
YoY Change 152.26% 119.1% 4.48%
Cash From Operating Activities -$2.237M $1.298M -$966.1K
YoY Change 53.74% -234.32% -34.84%
INVESTING ACTIVITIES
Capital Expenditures $1.598M $630.3K $211.9K
YoY Change 963.23% 197.45% -538.37%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.598M -$630.3K -$211.9K
YoY Change 963.23% 197.46% 338.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 11.39M 3.738M $1.250M
YoY Change 635.01% 199.04%
NET CHANGE
Cash From Operating Activities -2.237M 1.298M -$966.1K
Cash From Investing Activities -1.598M -630.3K -$211.9K
Cash From Financing Activities 11.39M 3.738M $1.250M
Net Change In Cash 7.558M 4.405M $71.98K
YoY Change -13739.56% 6020.45% -104.7%
FREE CASH FLOW
Cash From Operating Activities -$2.237M $1.298M -$966.1K
Capital Expenditures $1.598M $630.3K $211.9K
Free Cash Flow -$3.835M $667.3K -$1.178M
YoY Change 138.87% -156.65% -17.87%

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<p style="font-size:10pt;margin-top:8pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Note 1 </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">–</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> Organization and Nature of Business</span></p><p style="text-indent:6.667%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Effective January 21, 2021, we changed our name from Black Ridge Oil &amp; Gas, Inc. (business acquired with our October 1, 2020 acquisition of S-FDF, LLC) to Sow Good Inc. (“SOWG,” “Sow Good,” or the “Company”) to pursue the production of freeze dried fruits and vegetables, a business we later expanded to include freeze dried candy. At that time, our common stock began to be quoted on the OTCQB under the trading symbol “SOWG,” from the former trading symbol “ANFC.” Prior to April 2, 2012, Black Ridge Oil &amp; Gas was known as Ante5, Inc., a publicly traded company since July 1, 2010. From October 2010 through August 2019, Ante5, Inc. and Black Ridge Oil &amp; Gas, Inc. participated in the acquisition and development of oil and gas leases.</span></p><p style="text-indent:6.667%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">On May 5, 2021, the Company announced the launch of our direct-to-consumer freeze dried consumer packaged goods (“CPG”) food brand, Sow Good. Sow Good launched its first line of non-GMO products including six ready-to-make smoothies and nine snacks. On July 23, 2021, we launched six new gluten-free granola products under the Sow Good brand.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:6.667%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:6.667%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Effective February 15, 2024, Sow Good Inc. reincorporated to the State of Delaware from the State of Nevada under the name Sow Good Inc. pursuant to a plan of conversion (the “Plan of Conversion”), dated </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">February 15, 2024</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> (the “Reincorporation”). The Reincorporation was effected by the Company filing (i) articles of conversion (the “Articles of Conversion”) with the Secretary of State of the State of Nevada, (ii) a certificate of conversion (the “Certificate of Conversion”) with the Secretary of State of the State of Delaware and (iii) a certificate of incorporation (the “Certificate of Incorporation”) with the Secretary of State of the State of Delaware. In connection with the Reincorporation the Company also adopted Amended and Restated Bylaws (the “Bylaws”).</span></p><p style="text-indent:6.667%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Upon effectiveness of the Reincorporation:</span></p><div style="margin-left:6.667%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:4.86108878960282%;display:inline-flex;justify-content:flex-start;">•</span><div style="width:100%;display:inline;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">‎the affairs of the Company ceased to be governed by the Nevada Revised Statutes, as amended, the Company’s existing articles of incorporation and the Company’s existing bylaws, and the affairs of the Company became subject to the Delaware General Corporation Law, as amended, the Certificate of Incorporation and the Bylaws;</span></div></div><div style="margin-left:6.667%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:4.86108878960282%;display:inline-flex;justify-content:flex-start;">•</span><div style="width:100%;display:inline;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">the shares of Sow Good’s issued and outstanding common stock, with a par value $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.001</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> per share, converted into shares of the equivalent class of the Company’s Common Stock, each with a par value $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.001</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> per share, on a 1 share of common stock to 1 share of common stock basis;</span></div></div><div style="margin-left:6.667%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:4.86108878960282%;display:inline-flex;justify-content:flex-start;">•</span><div style="width:100%;display:inline;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">each director and officer of Sow Good will continue to hold his or her respective position with the Company;</span></div></div><div style="margin-left:6.667%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:4.86108878960282%;display:inline-flex;justify-content:flex-start;">•</span><div style="width:100%;display:inline;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">each employee benefit, stock option or other similar plan of Sow Good will continue to be an employee benefit, stock option or other similar plan of the Company; and</span></div></div><div style="margin-left:6.667%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:4.86108878960282%;display:inline-flex;justify-content:flex-start;">•</span><div style="width:100%;display:inline;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">the Company will continue to file periodic reports and other documents with the SEC.</span></div></div><p style="text-indent:6.667%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">After launching a freeze dried candy product line in the first quarter of 2023, the Company now has fifteen SKU offerings of candy, and four crunch ice cream SKU as of March 31, 2024, that are projected to continue being a major driver of growth. After launching our freeze dried candy product line we discontinued our smoothie, snack and granola products. During the second quarter of 2023, we completed the construction of our second and third freeze driers and to facilitate the increased production demands for our recently launched candy products. The significant and rising demand for our freeze dried candy products has led us to add a fourth freeze drier in the first quarter of 2024 and begin construction of our fifth, and sixth freeze driers, which we expect to be completed in the third quarter of 2024.</span></p>
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;text-decoration:underline;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:6.667%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></p>
CY2024Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;text-decoration:underline;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Reclassifications</span></p><p style="text-indent:6.667%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Certain amounts in the prior period financial statements have been reclassified to conform with the current period presentation.</span></p>
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
23492
CY2024Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0
CY2024Q1 sowg Reclassification Of Construction In Progress To Property And Equipment
ReclassificationOfConstructionInProgressToPropertyAndEquipment
767703
CY2023Q1 sowg Reclassification Of Construction In Progress To Property And Equipment
ReclassificationOfConstructionInProgressToPropertyAndEquipment
0
CY2024Q1 sowg Value Of Debt Discounts Attributable To Warrants
ValueOfDebtDiscountsAttributableToWarrants
0
CY2023Q1 sowg Value Of Debt Discounts Attributable To Warrants
ValueOfDebtDiscountsAttributableToWarrants
872421
CY2024Q1 us-gaap Nature Of Operations
NatureOfOperations
<p style="font-size:10pt;margin-top:8pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Note 1 </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">–</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> Organization and Nature of Business</span></p><p style="text-indent:6.667%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Effective January 21, 2021, we changed our name from Black Ridge Oil &amp; Gas, Inc. (business acquired with our October 1, 2020 acquisition of S-FDF, LLC) to Sow Good Inc. (“SOWG,” “Sow Good,” or the “Company”) to pursue the production of freeze dried fruits and vegetables, a business we later expanded to include freeze dried candy. At that time, our common stock began to be quoted on the OTCQB under the trading symbol “SOWG,” from the former trading symbol “ANFC.” Prior to April 2, 2012, Black Ridge Oil &amp; Gas was known as Ante5, Inc., a publicly traded company since July 1, 2010. From October 2010 through August 2019, Ante5, Inc. and Black Ridge Oil &amp; Gas, Inc. participated in the acquisition and development of oil and gas leases.</span></p><p style="text-indent:6.667%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">On May 5, 2021, the Company announced the launch of our direct-to-consumer freeze dried consumer packaged goods (“CPG”) food brand, Sow Good. Sow Good launched its first line of non-GMO products including six ready-to-make smoothies and nine snacks. On July 23, 2021, we launched six new gluten-free granola products under the Sow Good brand.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:6.667%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:6.667%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Effective February 15, 2024, Sow Good Inc. reincorporated to the State of Delaware from the State of Nevada under the name Sow Good Inc. pursuant to a plan of conversion (the “Plan of Conversion”), dated </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">February 15, 2024</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> (the “Reincorporation”). The Reincorporation was effected by the Company filing (i) articles of conversion (the “Articles of Conversion”) with the Secretary of State of the State of Nevada, (ii) a certificate of conversion (the “Certificate of Conversion”) with the Secretary of State of the State of Delaware and (iii) a certificate of incorporation (the “Certificate of Incorporation”) with the Secretary of State of the State of Delaware. In connection with the Reincorporation the Company also adopted Amended and Restated Bylaws (the “Bylaws”).</span></p><p style="text-indent:6.667%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Upon effectiveness of the Reincorporation:</span></p><div style="margin-left:6.667%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:4.86108878960282%;display:inline-flex;justify-content:flex-start;">•</span><div style="width:100%;display:inline;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">‎the affairs of the Company ceased to be governed by the Nevada Revised Statutes, as amended, the Company’s existing articles of incorporation and the Company’s existing bylaws, and the affairs of the Company became subject to the Delaware General Corporation Law, as amended, the Certificate of Incorporation and the Bylaws;</span></div></div><div style="margin-left:6.667%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:4.86108878960282%;display:inline-flex;justify-content:flex-start;">•</span><div style="width:100%;display:inline;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">the shares of Sow Good’s issued and outstanding common stock, with a par value $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.001</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> per share, converted into shares of the equivalent class of the Company’s Common Stock, each with a par value $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.001</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> per share, on a 1 share of common stock to 1 share of common stock basis;</span></div></div><div style="margin-left:6.667%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:4.86108878960282%;display:inline-flex;justify-content:flex-start;">•</span><div style="width:100%;display:inline;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">each director and officer of Sow Good will continue to hold his or her respective position with the Company;</span></div></div><div style="margin-left:6.667%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:4.86108878960282%;display:inline-flex;justify-content:flex-start;">•</span><div style="width:100%;display:inline;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">each employee benefit, stock option or other similar plan of Sow Good will continue to be an employee benefit, stock option or other similar plan of the Company; and</span></div></div><div style="margin-left:6.667%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:4.86108878960282%;display:inline-flex;justify-content:flex-start;">•</span><div style="width:100%;display:inline;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">the Company will continue to file periodic reports and other documents with the SEC.</span></div></div><p style="text-indent:6.667%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">After launching a freeze dried candy product line in the first quarter of 2023, the Company now has fifteen SKU offerings of candy, and four crunch ice cream SKU as of March 31, 2024, that are projected to continue being a major driver of growth. After launching our freeze dried candy product line we discontinued our smoothie, snack and granola products. During the second quarter of 2023, we completed the construction of our second and third freeze driers and to facilitate the increased production demands for our recently launched candy products. The significant and rising demand for our freeze dried candy products has led us to add a fourth freeze drier in the first quarter of 2024 and begin construction of our fifth, and sixth freeze driers, which we expect to be completed in the third quarter of 2024.</span></p>
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;text-decoration:underline;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:6.667%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></p>
CY2024Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;text-decoration:underline;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Reclassifications</span></p><p style="text-indent:6.667%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Certain amounts in the prior period financial statements have been reclassified to conform with the current period presentation.</span></p>
CY2023Q4 sowg Inventory In Transit
InventoryInTransit
571970
CY2024Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
2002571
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
691290
CY2024Q1 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
1408934
CY2024Q1 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
250000
CY2024Q1 sowg Securities Investor Protection Corporation
SecuritiesInvestorProtectionCorporation
500000
CY2024Q1 us-gaap Cash Uninsured Amount
CashUninsuredAmount
6239739
CY2023Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
1837840
CY2024Q1 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
250000
CY2024Q1 sowg Securities Investor Protection Corporation
SecuritiesInvestorProtectionCorporation
500000
CY2024Q1 us-gaap Cash Uninsured Amount
CashUninsuredAmount
6239739
CY2024Q1 us-gaap Depreciation
Depreciation
166995
CY2023Q1 us-gaap Depreciation
Depreciation
76218
CY2024Q1 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
157457
CY2023Q1 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
0
CY2023Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
1822052
CY2024Q1 us-gaap Inventory Net
InventoryNet
5138229
CY2023Q4 us-gaap Inventory Net
InventoryNet
4123246
CY2024Q1 sowg Prepaid Inventory
PrepaidInventory
804981
CY2023Q4 sowg Prepaid Inventory
PrepaidInventory
563131
CY2024Q1 us-gaap Depreciation
Depreciation
166995
CY2023Q1 us-gaap Depreciation
Depreciation
76218
CY2024Q1 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
157457
CY2023Q1 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
0
CY2024Q1 sowg Shipping And Handling Costs
ShippingAndHandlingCosts
172295
CY2023Q1 sowg Shipping And Handling Costs
ShippingAndHandlingCosts
8636
CY2024Q1 sowg Shipping And Handling Costs
ShippingAndHandlingCosts
172295
CY2023Q1 sowg Shipping And Handling Costs
ShippingAndHandlingCosts
8636
CY2024Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
158694
CY2024Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1150500
CY2023Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
46669
CY2023Q4 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
303348
CY2023Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
195000
CY2023Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
975000
CY2022Q2 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P10Y
CY2024Q1 us-gaap Prepaid Insurance
PrepaidInsurance
47403
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
48305
CY2024Q1 sowg Trade Show Advances
TradeShowAdvances
0
CY2023Q4 sowg Trade Show Advances
TradeShowAdvances
29964
CY2024Q1 us-gaap Prepaid Rent
PrepaidRent
0
CY2024Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
158694
CY2024Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1150500
CY2023Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
46669
CY2023Q4 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
303348
CY2023Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
195000
CY2023Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
975000
CY2022Q2 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P10Y
CY2024Q1 us-gaap Inventory Net
InventoryNet
5138229
CY2024Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
555092
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
222051
CY2024Q1 sowg Inventory Packaging Materials
InventoryPackagingMaterials
783026
CY2023Q4 sowg Inventory Packaging Materials
InventoryPackagingMaterials
815883
CY2024Q1 sowg Inventory In Transit
InventoryInTransit
388606
CY2024Q1 us-gaap Inventory Net
InventoryNet
5138229
CY2024Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
555092
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
222051
CY2024Q1 sowg Inventory Packaging Materials
InventoryPackagingMaterials
783026
CY2023Q4 sowg Inventory Packaging Materials
InventoryPackagingMaterials
815883
CY2024Q1 sowg Inventory In Transit
InventoryInTransit
388606
CY2023Q4 sowg Inventory In Transit
InventoryInTransit
571970
CY2024Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
2002571
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
691290
CY2024Q1 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
1408934
CY2023Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
1822052
CY2024Q1 us-gaap Inventory Net
InventoryNet
5138229
CY2023Q4 us-gaap Inventory Net
InventoryNet
4123246
CY2024Q1 sowg Prepaid Inventory
PrepaidInventory
804981
CY2023Q4 sowg Prepaid Inventory
PrepaidInventory
563131
CY2024Q1 sowg Prepaid Professional Costs
PrepaidProfessionalCosts
442631
CY2023Q4 sowg Prepaid Professional Costs
PrepaidProfessionalCosts
382524
CY2024Q1 sowg Prepaid Software Licenses
PrepaidSoftwareLicenses
22121
CY2023Q4 sowg Prepaid Software Licenses
PrepaidSoftwareLicenses
35252
CY2024Q1 sowg Prepaid Professional Costs
PrepaidProfessionalCosts
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