2022 Q4 Form 10-Q Financial Statement

#000168316822007625 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $47.08K $87.74K $21.14K
YoY Change -21.83% 315.05%
Cost Of Revenue $45.00K $65.20K $19.40K
YoY Change -21.08% 236.06%
Gross Profit $2.080K $22.55K $1.740K
YoY Change -35.2% 1195.75%
Gross Profit Margin 4.42% 25.7% 8.23%
Selling, General & Admin $1.113M $1.253M $1.517M
YoY Change -15.53% -17.42% 54.65%
% of Gross Profit 53500.96% 5557.92% 87203.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $75.66K $75.23K $64.87K
YoY Change -3.65% 15.97% 16971.05%
% of Gross Profit 3637.5% 333.67% 3728.16%
Operating Expenses $1.185M $1.322M $1.582M
YoY Change -15.13% -16.43% 61.19%
Operating Profit -$1.183M -$1.300M -$1.580M
YoY Change -15.08% -17.77%
Interest Expense -$434.7K $384.0K -$1.700K
YoY Change 29273.65% -22687.94% -99.89%
% of Operating Profit
Other Income/Expense, Net -$347.6K -$1.697K
YoY Change 20383.38% -17070.0%
Pretax Income -$6.815M -$1.647M -$1.582M
YoY Change 132.88% 4.12% -36.52%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$6.815M -$1.647M -$1.582M
YoY Change 132.88% 4.12% -36.52%
Net Earnings / Revenue -14475.25% -1877.43% -7484.2%
Basic Earnings Per Share -$0.34 -$0.34
Diluted Earnings Per Share -$1.41 -$0.34 -$340.6K
COMMON SHARES
Basic Shares Outstanding 4.847M shares 4.847M shares 4.645M shares
Diluted Shares Outstanding 4.846M shares 4.645M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $276.5K $1.375M $2.580M
YoY Change -91.74% -46.72% -2.96%
Cash & Equivalents $276.5K $1.375M $2.580M
Short-Term Investments $0.00
Other Short-Term Assets $137.7K $118.4K $81.42K
YoY Change 69.86% 45.41% 217.06%
Inventory $1.973M $1.901M $1.162M
Prepaid Expenses $137.7K $118.4K
Receivables $191.0K $225.9K $8.020K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.578M $3.620M $3.832M
YoY Change -47.29% -5.55% 42.73%
LONG-TERM ASSETS
Property, Plant & Equipment $5.035M $4.760M $4.355M
YoY Change 87.78% 9.3%
Goodwill $0.00 $4.887M
YoY Change -100.0%
Intangibles
YoY Change
Long-Term Investments $24.00K $24.00K $10.00K
YoY Change 140.0% 140.0%
Other Assets $10.00K
YoY Change
Total Long-Term Assets $6.321M $11.26M $10.78M
YoY Change -31.39% 4.49%
TOTAL ASSETS
Total Short-Term Assets $2.578M $3.620M $3.832M
Total Long-Term Assets $6.321M $11.26M $10.78M
Total Assets $8.899M $14.88M $14.61M
YoY Change -36.9% 1.86% 444.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $452.6K $487.8K $187.9K
YoY Change 62.03% 159.56% 69.97%
Accrued Expenses $385.0K $202.7K $219.0K
YoY Change 395.21% -7.45% -16.58%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $890.2K $741.3K $406.9K
YoY Change 120.86% 82.18% 9.07%
LONG-TERM LIABILITIES
Long-Term Debt $3.896M $3.525M $150.0K
YoY Change 155.35% 2249.72% -42.95%
Other Long-Term Liabilities $1.301M $1.315M $1.366M
YoY Change -3.88% -3.72%
Total Long-Term Liabilities $5.198M $4.840M $1.516M
YoY Change 80.49% 219.21% 476.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $890.2K $741.3K $406.9K
Total Long-Term Liabilities $5.198M $4.840M $1.516M
Total Liabilities $6.088M $5.581M $1.923M
YoY Change 85.45% 190.21% 202.38%
SHAREHOLDERS EQUITY
Retained Earnings -$55.68M -$48.86M
YoY Change 27.84%
Common Stock $4.847K $4.847K
YoY Change 0.79%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.811M $9.298M $12.69M
YoY Change
Total Liabilities & Shareholders Equity $8.899M $14.88M $14.61M
YoY Change -36.9% 1.86% 444.08%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$6.815M -$1.647M -$1.582M
YoY Change 132.88% 4.12% -36.52%
Depreciation, Depletion And Amortization $75.66K $75.23K $64.87K
YoY Change -3.65% 15.97% 16971.05%
Cash From Operating Activities -$997.6K -$1.875M -$1.540M
YoY Change -19.99% 21.76% 259.1%
INVESTING ACTIVITIES
Capital Expenditures $350.8K -$321.0K -$199.6K
YoY Change -658.55% 60.81%
Acquisitions
YoY Change
Other Investing Activities $0.00 $63.96K $0.00
YoY Change -100.0%
Cash From Investing Activities -$350.8K -$257.0K -$199.6K
YoY Change 458.54% 28.77% -202.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $565.4K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 250.0K 750.0K 565.4K
YoY Change -87.95% 32.66%
NET CHANGE
Cash From Operating Activities -997.6K -1.875M -1.540M
Cash From Investing Activities -350.8K -257.0K -199.6K
Cash From Financing Activities 250.0K 750.0K 565.4K
Net Change In Cash -1.098M -1.382M -1.174M
YoY Change -243.49% 17.7% 400.62%
FREE CASH FLOW
Cash From Operating Activities -$997.6K -$1.875M -$1.540M
Capital Expenditures $350.8K -$321.0K -$199.6K
Free Cash Flow -$1.348M -$1.554M -$1.340M
YoY Change 13.89% 15.94% 212.54%

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CommonStockOptionsGrantedToOfficersAndDirectorsForServices
135804 usd
CY2021Q3 SOWG Common Stock Options Granted To Employees For Services
CommonStockOptionsGrantedToEmployeesForServices
9762 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-1582157 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
12685377 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
10425202 usd
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
364512 usd
CY2022Q3 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
25000 usd
CY2022Q3 SOWG Common Stock Options Granted To Officers And Directors For Services
CommonStockOptionsGrantedToOfficersAndDirectorsForServices
113166 usd
CY2022Q3 SOWG Common Stock Options Granted To Employees And Advisors For Services
CommonStockOptionsGrantedToEmployeesAndAdvisorsForServices
17702 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-1647272 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
9298310 usd
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
10055461 usd
us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
0 usd
SOWG Stock Issued During Period Value New Issues1
StockIssuedDuringPeriodValueNewIssues1
2730621 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2831890 usd
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
588202 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
20000 usd
SOWG Common Stock Options Granted To Officers And Directors For Services
CommonStockOptionsGrantedToOfficersAndDirectorsForServices
373580 usd
SOWG Common Stock Options Granted To Employees For Services
CommonStockOptionsGrantedToEmployeesForServices
33451 usd
us-gaap Net Income Loss
NetIncomeLoss
-3947828 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
12685377 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
49998 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
588202 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
10820408 usd
us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
2614196 usd
SOWG Common Stock Warrants Granted To Note Holders Pursuant To Debt Financing
CommonStockWarrantsGrantedToNoteHoldersPursuantToDebtFinancing
444330 usd
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
49998 usd
SOWG Common Stock Issued To Advisory Board For Services
CommonStockIssuedToAdvisoryBoardForServices
30000 usd
SOWG Common Stock Options Granted To Officers And Directors For Services
CommonStockOptionsGrantedToOfficersAndDirectorsForServices
530908 usd
SOWG Common Stock Options Granted To Employees And Advisors For Services
CommonStockOptionsGrantedToEmployeesAndAdvisorsForServices
120593 usd
us-gaap Net Income Loss
NetIncomeLoss
-5312123 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
9298310 usd
us-gaap Net Income Loss
NetIncomeLoss
-5312123 usd
us-gaap Net Income Loss
NetIncomeLoss
-3947828 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
223887 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
129915 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
36392 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-0 usd
us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
-0 usd
us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
133944 usd
SOWG Gain On Early Extinguishment Of Debt
GainOnEarlyExtinguishmentOfDebt
-0 usd
SOWG Gain On Early Extinguishment Of Debt
GainOnEarlyExtinguishmentOfDebt
113772 usd
SOWG Common Stock Awarded To Advisors For Services
CommonStockAwardedToAdvisorsForServices
30000 usd
SOWG Common Stock Awarded To Advisors For Services
CommonStockAwardedToAdvisorsForServices
20000 usd
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
651501 usd
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
407031 usd
SOWG Amortization Of Stock Warrants Issued As Debt Discount
AmortizationOfStockWarrantsIssuedAsDebtDiscount
607320 usd
SOWG Amortization Of Stock Warrants Issued As Debt Discount
AmortizationOfStockWarrantsIssuedAsDebtDiscount
0 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
213509 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
8020 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
37333 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
24993 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
448626 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1021099 usd
us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
-14000 usd
us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
0 usd
SOWG Increase Decrease In Rightof Use Asset
IncreaseDecreaseInRightofUseAsset
-50425 usd
SOWG Increase Decrease In Rightof Use Asset
IncreaseDecreaseInRightofUseAsset
-48620 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
208486 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-137171 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
124929 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-82357 usd
SOWG Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-33609 usd
SOWG Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-29085 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4149046 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4304501 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
63957 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 usd
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
0 usd
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
414361 usd
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
154853 usd
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
1004611 usd
us-gaap Payments For Construction In Process
PaymentsForConstructionInProcess
2175241 usd
us-gaap Payments For Construction In Process
PaymentsForConstructionInProcess
-0 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
5929 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
-0 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2272066 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-590250 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
3870000 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
0 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
580000 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 usd
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
0 usd
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
5562511 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4450000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5562511 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1971112 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
667760 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3345928 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1912729 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1374816 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2580489 usd
us-gaap Interest Paid Net
InterestPaidNet
134444 usd
us-gaap Interest Paid Net
InterestPaidNet
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
SOWG Value Of Debt Discounts Attributable To Warrants
ValueOfDebtDiscountsAttributableToWarrants
3058526 usd
SOWG Value Of Debt Discounts Attributable To Warrants
ValueOfDebtDiscountsAttributableToWarrants
0 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_809_eus-gaap--NatureOfOperations_zQuBdlkrAd9i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 1 – <span id="xdx_826_zRugLztREJTe">Organization and Nature of Business</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective January 21, 2021, we changed our name from Black Ridge Oil &amp; Gas, Inc. to Sow Good Inc. (“SOWG,” “Sow Good,” or the “Company”) to pursue the freeze dried fruits and vegetables business as acquired with our October 1, 2020 acquisition of S-FDF, LLC. Our common stock is traded on the OTCQB under the trading symbol “SOWG”. <span style="background-color: white">At that time, o</span>ur common stock started to be quoted on the OTCQB under the trading symbol “SOWG”, from the former trading symbol “ANFC”. Prior to April 2, 2012, the Company name was Ante5, Inc., which became an independent company in April 2010. We became a publicly traded company when our shares began trading on July 1, 2010. From October 2010 through August 2019, we had been engaged in the business of acquiring oil and gas leases and participating in the drilling of wells in the Bakken and Three Forks trends in North Dakota and Montana and /or managing similar assets for third parties.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 26, 2017, the Company finalized an equity raise utilizing a rights offering and backstop agreement, raising net proceeds of $<span id="xdx_908_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_c20170101__20170926__us-gaap--SubsidiarySaleOfStockAxis__custom--EquityRaiseMember_pp0p0" title="Sale of stock">5,051,675</span> and issuing <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20170101__20170926__us-gaap--SubsidiarySaleOfStockAxis__custom--EquityRaiseMember_pdd" title="Number of shares issued, shares">1,439,400</span> shares. The proceeds were used to sponsor a special purpose acquisition company, discussed below, with the remainder for general corporate purposes.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 10, 2017, the Company’s sponsored special purpose acquisition company, Black Ridge Acquisition Corp. (“BRAC”), completed an IPO raising $<span id="xdx_909_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20170101__20171010__dei--LegalEntityAxis__custom--BracMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--TransactionTypeAxis__us-gaap--OverAllotmentOptionMember_pp0p0" title="Proceeds from IPO">138,000,000</span> of gross proceeds (including proceeds from the exercise of an over-allotment option by the underwriters on October 18, 2017). In addition, the Company purchased <span id="xdx_900_ecustom--UnitsBought_c20170101__20171010__dei--LegalEntityAxis__custom--BracMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PrivatePlacement1Member_pdd" title="Units bought">445,000</span> BRAC units at $<span id="xdx_90C_ecustom--UnitPrice_c20170101__20171010__dei--LegalEntityAxis__custom--BracMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PrivatePlacement1Member_pdd" title="Unit price">10.00</span> per unit in a private placement transaction for a total contribution of $<span id="xdx_902_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_c20170101__20171010__dei--LegalEntityAxis__custom--BracMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PrivatePlacement1Member_pp0p0" title="Sale of stock">4,450,000</span> in order to fulfill its obligations in sponsoring BRAC, a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. BRAC’s efforts to identify a prospective target business were not limited to a particular industry or geographic region. Following the IPO and over-allotment, BROG owned 22% of the outstanding common stock of BRAC and managed BRAC’s operations via a management services agreement. On December 19, 2018, BRAC entered into a business combination agreement, which subsequently closed on August 9, 2019.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">On October 1, 2020, the Company completed its acquisition of S-FDF, LLC pursuant to an Asset Purchase Agreement. In connection with the closing of the Asset Purchase Agreement, the Company acquired approximately $2.2 million in cash and certain assets and agreements related to the Seller’s freeze dried fruits and vegetables business for human consumption and entered into certain employment and registration rights agreements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">On February 5, 2021, the Company raised over $<span id="xdx_904_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_dm_c20210204__20210205__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zcApnmJ9VPCk" title="Proceed from sales of stock">2.5 million</span> of capital from the sale of <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210204__20210205__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_pdd" title="Number of shares issued, shares">631,250</span> newly issued shares at a share price of $<span id="xdx_906_eus-gaap--SharePrice_c20210205__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_pdd" title="Share price">4.00</span> in a private placement. The proceeds were used to find capital expenditures and working capital investment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">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 with its first line of non-GMO products including 6 ready-to-make smoothies and 9 snacks.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">On July 7, 2021, the Company raised over $<span id="xdx_90D_eus-gaap--Capital_iI_dm_c20210707__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zroIUNPLCj21" title="Capital">3 million</span> of capital from the sale of <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210706__20210707__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_pdd" title="Number of shares issued, shares">714,701</span> newly issued shares at a share price of $<span id="xdx_900_eus-gaap--SharePrice_c20210707__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_pdd" title="Share price">4.25</span> in a private placement. Investors in the private placement included Sow Good’s Chief Executive Officer, Executive Chairman, and Chief Financial Officer, in addition to other Sow Good board members and a small group of accredited investors. The proceeds were used to invest in inventory ahead of pursuing larger business-to-business relationships, as well as funding incremental capital expenditures and general operating expenses.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">On July 23, 2021, we launched six new gluten-free granola products under the Sow Good brand. Sow Good’s granola products are made with health-conscious ingredients such as freeze dried fruit, almonds, hemp hearts, and coconut oil.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">On December 31, 2021, we sold an aggregate $<span id="xdx_905_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pp0p0_c20211201__20211231__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_zmGua7XftyHe" title="Sale of stock">2,075,000</span> of promissory notes and warrants to purchase an aggregate <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20211201__20211231__us-gaap--AwardTypeAxis__custom--WarrantsMember_zjmCYWBB7Dcc" title="Number of shares issued, shares">311,250</span> shares of common stock to related parties, representing <span id="xdx_90E_ecustom--WarrantPurchased_c20211201__20211231_zojsRK8vzc4f" title="Warrant purchased">15,000</span> warrant shares per $<span id="xdx_90F_eus-gaap--NotesPayable_iI_pp0p0_c20211231__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zyxZBMeY8B1j" title="Notes payable">100,000</span> of promissory notes. The warrants are exercisable at a price of $<span id="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20211231_z1FX2OVPIWH3" title="Warrabt exercisable price">2.21</span> per share over a ten-year term. The proceeds will be used for working capital investment and to ramp up our freeze dried consumer packaged goods business.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="background-color: white">On April 8, 2022, we sold an aggregate $<span id="xdx_907_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_c20220401__20220408__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_pp0p0" title="Sale of stock">3,700,000</span> </span>of promissory notes and warrants to purchase an aggregate <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220401__20220408_pdd" title="Number of shares issued, shares">925,000</span> shares of common stock, including $<span id="xdx_909_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20220401__20220408__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_pp0p0" title="Number of shares issued">3,120,000</span> and warrants to purchase an aggregate <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220401__20220408__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_pdd" title="Number of shares issued, shares">780,000</span> shares of common stock, to related parties<span style="background-color: white">. </span>The warrants are exercisable at a price of $<span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_c20220408__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_pdd" title="Warrabt exercisable price">2.35</span> per share over a ten-year term. These proceeds will also be used for working capital investment and to ramp up our freeze dried consumer packaged goods business.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">On August 23, 2022, we closed on an offering to sell up to $<span id="xdx_906_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pp0p0_c20220801__20220823__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_zitLtaHGDuZi" title="Sale of stock">2,500,000</span> of promissory notes and warrants to purchase an aggregate <span id="xdx_90B_eus-gaap--StockRepurchasedDuringPeriodShares_c20220801__20220823__us-gaap--AwardTypeAxis__custom--WarrantsMember_zLcd3l4qhJeh" title="Number of shares purchased">625,000</span> shares of the Company’s common stock, exercisable over a ten-year period at a price of $<span id="xdx_901_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20220823_zhx3K2smis0g" title="Warrabt exercisable price">2.60</span> per share, representing <span id="xdx_90C_ecustom--WarrantPurchased_c20220801__20220823_zS7ejTaB6nvd" title="Warrant purchased">25,000</span> warrant shares per $<span id="xdx_90C_ecustom--WarrantPurchasedValue_pp0p0_c20220801__20220823__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zoLYh39hTgu9" title="Warrant purchased, value">100,000</span> of Notes purchased. The notes mature on <span id="xdx_90A_eus-gaap--DebtInstrumentMaturityDate_dd_c20220101__20220930__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_zPVklR0GYtDh" title="Maturity date">August 23, 2025</span>. Interest on the notes accrue at a rate of <span id="xdx_903_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20220101__20220930_z7B03M1cdeKl" title="Interest rate">8</span>% per annum, payable on January 1, 2025. Loans may be advanced to the Company from time to time from <span id="xdx_907_eus-gaap--DebtInstrumentMaturityDate_dd_c20220101__20220930_zGSrPxkLwo41" title="Maturity date">August 23, 2023</span> to the Maturity Date. On September 29, 2022, the Company received aggregate proceeds of $<span id="xdx_90A_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pp0p0_c20220901__20220929__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember__srt--TitleOfIndividualAxis__srt--DirectorMember__us-gaap--AwardTypeAxis__custom--WarrantsMember_zZRKLhC0Cv29" title="Proceed from sales of stock">750,000</span> from two of the Company’s Directors on the sale of these notes and warrants.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> </p>
CY2021Q4 SOWG Warrant Purchased
WarrantPurchased
15000 shares
CY2021Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
2.21
CY2022Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
925000 shares
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
2.60
CY2022Q3 SOWG Warrant Purchased
WarrantPurchased
25000 shares
us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.08 pure
us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2023-08-23
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84A_eus-gaap--UseOfEstimates_zX5YGloaoiW6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="text-decoration: underline"><span id="xdx_86D_zmm22YyfBWbe">Use of Estimates</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022Q3 us-gaap Cash Uninsured Amount
CashUninsuredAmount
832600 usd
us-gaap Depreciation
Depreciation
223887 usd
us-gaap Depreciation
Depreciation
129915 usd
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
1524030 usd
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
2.60
CY2022Q3 SOWG Warrant Purchased
WarrantPurchased
25000 shares
CY2022Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
454378 usd
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
273135 usd
CY2022Q3 SOWG Inventory Packaging Materials
InventoryPackagingMaterials
459435 usd
CY2021Q4 SOWG Inventory Packaging Materials
InventoryPackagingMaterials
95436 usd
CY2022Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
636768 usd
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
613063 usd
CY2022Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
349942 usd
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
470263 usd
CY2022Q3 us-gaap Inventory Net
InventoryNet
1900523 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
1451897 usd
us-gaap Share Based Compensation
ShareBasedCompensation
731499 usd
us-gaap Share Based Compensation
ShareBasedCompensation
1015233 usd
SOWG Amortization Of Warrants
AmortizationOfWarrants
607320 usd
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-48864617 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1374816 usd
us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.08 pure
us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2023-08-23
us-gaap Lease Expiration Date1
LeaseExpirationDate1
2025-09-15
SOWG Monthly Lease Payment
MonthlyLeasePayment
10036 usd
CY2022Q3 SOWG Prepaid Software Licenses
PrepaidSoftwareLicenses
50407 usd
CY2021Q4 SOWG Prepaid Software Licenses
PrepaidSoftwareLicenses
28314 usd
CY2022Q3 us-gaap Prepaid Insurance
PrepaidInsurance
16417 usd
CY2021Q4 us-gaap Prepaid Insurance
PrepaidInsurance
11179 usd
CY2022Q3 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
18557 usd
CY2021Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
22728 usd
CY2022Q3 SOWG Trade Show Advances
TradeShowAdvances
33009 usd
CY2021Q4 SOWG Trade Show Advances
TradeShowAdvances
18836 usd
CY2022Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
118390 usd
CY2021Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
81057 usd
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5192489 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2891352 usd
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
432591 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
210096 usd
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4759898 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2681256 usd
us-gaap Proceeds From Legal Settlements
ProceedsFromLegalSettlements
62308 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
36392 usd
us-gaap Depreciation
Depreciation
223887 usd
us-gaap Depreciation
Depreciation
129915 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
310173 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
304244 usd
SOWG Lease Expiration Date
LeaseExpirationDate
2025-08-31
SOWG Monthly Lease Payment
MonthlyLeasePayment
10036 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
110161 usd
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1278664 usd
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
50846 usd
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1315413 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
1366259 usd
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P13Y6M
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0575 pure
us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
33609 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
31942 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
129046 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
132917 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
136905 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
1554000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1984810 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
618551 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
1366259 usd
CY2022Q3 us-gaap Notes Payable Related Parties Current And Noncurrent
NotesPayableRelatedPartiesCurrentAndNoncurrent
5945000 usd
CY2021Q4 us-gaap Notes Payable Related Parties Current And Noncurrent
NotesPayableRelatedPartiesCurrentAndNoncurrent
2075000 usd
CY2022Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
2777036 usd
CY2021Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
699213 usd
CY2022Q3 SOWG Notes Payable Related Parties Current And Noncurrent Net
NotesPayableRelatedPartiesCurrentAndNoncurrentNet
3167964 usd
CY2021Q4 SOWG Notes Payable Related Parties Current And Noncurrent Net
NotesPayableRelatedPartiesCurrentAndNoncurrentNet
1375787 usd
CY2022Q3 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
3167964 usd
CY2021Q4 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
1375787 usd
us-gaap Interest Expense Other
InterestExpenseOther
752257 usd
CY2022Q3 us-gaap Notes And Loans Payable
NotesAndLoansPayable
730000 usd
CY2021Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
150000 usd
CY2022Q3 us-gaap Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
373383 usd
CY2021Q4 us-gaap Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
0 usd
CY2022Q3 us-gaap Long Term Notes Payable
LongTermNotesPayable
356617 usd
CY2021Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
150000 usd
CY2021Q4 us-gaap Notes Payable Current
NotesPayableCurrent
0 usd
CY2022Q3 us-gaap Long Term Notes Payable
LongTermNotesPayable
356617 usd
CY2021Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
150000 usd
CY2022Q2 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
444330 usd
CY2022Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2022Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
4847384 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations
1300 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.00
CY2022Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
8432000 usd
CY2022Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
8432000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
10036 usd

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