2023 Q1 Form 10-Q Financial Statement

#000168316823003625 Filed on May 22, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q1
Revenue $198.9K $48.37K
YoY Change 311.27%
Cost Of Revenue $76.68K $47.49K
YoY Change 61.47%
Gross Profit $122.3K $880.00
YoY Change 13792.05%
Gross Profit Margin 61.45% 1.82%
Selling, General & Admin $949.2K $1.384M
YoY Change -31.41% 20.78%
% of Gross Profit 776.46% 157263.64%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $76.22K $72.95K
YoY Change 4.48% 1359.0%
% of Gross Profit 62.35% 8289.77%
Operating Expenses $1.025M $1.449M
YoY Change -29.24% 25.92%
Operating Profit -$903.2K -$1.448M
YoY Change -37.64%
Interest Expense $498.3K -$103.8K
YoY Change -580.14% -145.28%
% of Operating Profit
Other Income/Expense, Net -$498.3K -$103.8K
YoY Change 380.12%
Pretax Income -$1.402M -$1.552M
YoY Change -9.7% 92.12%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$1.402M -$1.552M
YoY Change -9.7% 92.12%
Net Earnings / Revenue -704.53% -3208.72%
Basic Earnings Per Share -$0.29 -$0.32
Diluted Earnings Per Share -$0.29 -$322.7K
COMMON SHARES
Basic Shares Outstanding 4.847M shares 4.810M shares
Diluted Shares Outstanding 4.847M shares 4.810M shares

Balance Sheet

Concept 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $348.4K $1.815M
YoY Change -80.8% -40.63%
Cash & Equivalents $348.4K $1.815M
Short-Term Investments
Other Short-Term Assets $81.03K $68.38K
YoY Change 18.5% 28.58%
Inventory $2.183M $1.772M
Prepaid Expenses $81.03K
Receivables $13.95K $11.97K
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.626M $3.667M
YoY Change -28.39% 2.8%
LONG-TERM ASSETS
Property, Plant & Equipment $5.171M $3.965M
YoY Change 30.39% -5.68%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $24.00K $10.00K
YoY Change 140.0%
Other Assets $10.00K
YoY Change 0.0%
Total Long-Term Assets $6.439M $9.171M
YoY Change -29.79% -13.69%
TOTAL ASSETS
Total Short-Term Assets $2.626M $3.667M
Total Long-Term Assets $6.439M $9.171M
Total Assets $9.065M $12.84M
YoY Change -29.39% -9.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $289.5K $334.6K
YoY Change -13.46% 44.08%
Accrued Expenses $381.2K $163.8K
YoY Change 132.8% -40.12%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $725.0K $498.3K
YoY Change 45.49% -1.45%
LONG-TERM LIABILITIES
Long-Term Debt $4.644M $1.586M
YoY Change 192.93% 957.01%
Other Long-Term Liabilities $1.287M $1.341M
YoY Change -4.05% -3.42%
Total Long-Term Liabilities $5.932M $2.927M
YoY Change 102.66% 90.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $725.0K $498.3K
Total Long-Term Liabilities $5.932M $2.927M
Total Liabilities $6.657M $3.425M
YoY Change 94.34% 67.52%
SHAREHOLDERS EQUITY
Retained Earnings -$57.08M
YoY Change
Common Stock $4.847K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.409M $9.413M
YoY Change
Total Liabilities & Shareholders Equity $9.065M $12.84M
YoY Change -29.39% -9.55%

Cashflow Statement

Concept 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$1.402M -$1.552M
YoY Change -9.7% 92.12%
Depreciation, Depletion And Amortization $76.22K $72.95K
YoY Change 4.48% 1359.0%
Cash From Operating Activities -$966.1K -$1.483M
YoY Change -34.84% 24.08%
INVESTING ACTIVITIES
Capital Expenditures $211.9K -$48.34K
YoY Change -538.37% -93.06%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$211.9K -$48.34K
YoY Change 338.37% -93.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $1.250M $0.00
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -$966.1K -1.483M
Cash From Investing Activities -$211.9K -48.34K
Cash From Financing Activities $1.250M $0.00
Net Change In Cash $71.98K -1.531M
YoY Change -104.7% -341.71%
FREE CASH FLOW
Cash From Operating Activities -$966.1K -$1.483M
Capital Expenditures $211.9K -$48.34K
Free Cash Flow -$1.178M -$1.434M
YoY Change -17.87% 187.93%

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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1530940 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
276464 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3345928 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
348441 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1814988 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
23492 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2023Q1 SOWG Value Of Debt Discounts Attributable To Warrants
ValueOfDebtDiscountsAttributableToWarrants
872421 usd
CY2022Q1 SOWG Value Of Debt Discounts Attributable To Warrants
ValueOfDebtDiscountsAttributableToWarrants
0 usd
CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_803_eus-gaap--NatureOfOperations_zsVUR8KOUOm8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 1 – <span id="xdx_826_z0vLQrmOSe2c">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; 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_905_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_dm_c20210204__20210205__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_z3AN49swN1V6" title="Proceed from sales of stock">2.5 million</span> of capital from the sale of <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210204__20210205__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zVuMoAwJyWja" title="Number of shares issued, shares">631,250</span> newly issued shares at a share price of $<span id="xdx_905_eus-gaap--SharePrice_iI_c20210205__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zhNelQLbwHHl" 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--ProceedsFromIssuanceOrSaleOfEquity_dm_c20210706__20210707__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zRbIhLhK8933" title="Proceed from sales of stock">3 million</span> of capital from the sale of <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210706__20210707__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_z17QUDQHXd01" title="Number of shares issued, shares">714,701</span> newly issued shares at a share price of $<span id="xdx_909_eus-gaap--SharePrice_iI_c20210707__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zz72Ya7Jn9a9" 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 are being 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. Granola products are initially being sold direct-to-consumer and will later be targeted to the business-to-business segment.</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_904_eus-gaap--ProceedsFromIssuanceOfDebt_pp0p0_c20211201__20211231__us-gaap--DebtInstrumentAxis__custom--PromissoryNotesAndWarrantsMember_zOsukXe8JYck" title="Issuance of debt">2,075,000</span> of promissory notes and warrants to purchase an aggregate <span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20211231__us-gaap--DebtInstrumentAxis__custom--PromissoryNotesAndWarrantsMember_zyO2qPGpprmi" title="Warrants issued">311,250</span> shares of common stock to related parties, representing <span id="xdx_907_ecustom--WarrantPurchased_c20211201__20211231__us-gaap--DebtInstrumentAxis__custom--PromissoryNotesAndWarrantsMember_z3CEMWOMaYWc" title="Warrant purchased">15,000</span> warrant shares per $<span id="xdx_909_eus-gaap--NotesPayable_iI_pp0p0_c20211231__us-gaap--DebtInstrumentAxis__custom--PromissoryNotesAndWarrantsMember_zuf73IOXsjkh" title="Notes payable">100,000</span> of promissory notes. The warrants are exercisable at a price of $<span id="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20211231__us-gaap--DebtInstrumentAxis__custom--PromissoryNotesAndWarrantsMember_zN5hW24kPA3b" title="Warrant 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_904_eus-gaap--ProceedsFromIssuanceOfDebt_pp0p0_c20220407__20220408__us-gaap--DebtInstrumentAxis__custom--PromissoryNotesAndWarrantsMember_zQgxwRWHd3N3" title="Issuance of debt">3,700,000</span> </span>of promissory notes and warrants to purchase an aggregate <span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20220408__us-gaap--DebtInstrumentAxis__custom--PromissoryNotesAndWarrantsMember_zfPxuaIL8owi" title="Warrants issued">925,000</span> shares of common stock, including $<span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pp0p0_c20220407__20220408__us-gaap--DebtInstrumentAxis__custom--PromissoryNotesAndWarrantsMember_zM6Rgk0av8W" title="Number of shares issued">3,120,000</span> and warrants to purchase an aggregate <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220407__20220408__us-gaap--DebtInstrumentAxis__custom--PromissoryNotesAndWarrantsMember_zsSXHkNxUcpi" 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_90A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_c20220408__us-gaap--DebtInstrumentAxis__custom--PromissoryNotesAndWarrantsMember_pdd" title="Warrant exercisable price">2.35</span> per share over a ten-year term. These proceeds were 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_90F_eus-gaap--ProceedsFromIssuanceOfDebt_pp0p0_c20220822__20220823__us-gaap--DebtInstrumentAxis__custom--PromissoryNotesAndWarrantsMember_zZ4vLyz1Ppnd" title="Proceeds from issuance of debt">2,500,000</span> of promissory notes and warrants to purchase an aggregate <span id="xdx_906_ecustom--WarrantsIssuedShares_c20220822__20230823__us-gaap--DebtInstrumentAxis__custom--PromissoryNotesAndWarrantsMember_zYr5kCFpzXg8" title="Warrants issued">625,000</span> shares of the Company’s common stock, exercisable over a ten-year period at a price of $2.60 per share, representing 25,000 warrant shares per $100,000 of Notes purchased. The notes mature on <span id="xdx_900_eus-gaap--DebtInstrumentMaturityDate_dd_c20220822__20220823__us-gaap--DebtInstrumentAxis__custom--PromissoryNotesAndWarrantsMember_ze4xFcZGl2i4" title="Maturity date">August 23, 2025</span>. Interest on the notes accrue at a rate of <span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_c20220823__us-gaap--DebtInstrumentAxis__custom--PromissoryNotesAndWarrantsMember_z3DLkoSV4RQf" title="Interest rate">8</span>% per annum, payable on January 1, 2025. Loans may be advanced to the Company from time to time from August 23, 2022 to the Maturity Date. On various dates from September 29, 2022 through March 7, 2023, the Company received aggregate proceeds of $<span id="xdx_90B_eus-gaap--ProceedsFromIssuanceOfDebt_pp0p0_c20220929__20230307__srt--CounterpartyNameAxis__custom--TwoDirectorsMember__us-gaap--DebtInstrumentAxis__custom--PromissoryNotesAndWarrantsMember_zH3WV10KTGnc" title="Issuance of debt">2,250,000</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> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">In 2022, we commenced the construction of our second and third freeze driers in anticipation of the increased production demands for our products and freeze-drying expertise. We expect to place these additional freeze driers in service during the second quarter of 2023.</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">In the first quarter of 2023, we launched a freeze-dried candy product offering that we expect will be a major driver of our growth going forward. As of May 19, 2023, we have 14 candy product lines for sale.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> </p>
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_843_eus-gaap--UseOfEstimates_zwWUzulGTCJf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="text-decoration: underline"><span id="xdx_860_zqjaxvVo7Nj9">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>
CY2023Q1 us-gaap Cash Uninsured Amount
CashUninsuredAmount
175245 usd
CY2023Q1 us-gaap Depreciation
Depreciation
76218 usd
CY2022Q1 us-gaap Depreciation
Depreciation
72954 usd
CY2022Q1 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
7728 usd
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
65226 usd
CY2023Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
353140 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
384241 usd
CY2023Q1 SOWG Inventory Packaging Materials
InventoryPackagingMaterials
472579 usd
CY2022Q4 SOWG Inventory Packaging Materials
InventoryPackagingMaterials
416663 usd
CY2023Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
861123 usd
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
864460 usd
CY2023Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
495983 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
307515 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
2182825 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
1972879 usd
CY2023Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
8997 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5170683 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5034995 usd
CY2023Q1 us-gaap Depreciation
Depreciation
76218 usd
CY2022Q1 us-gaap Depreciation
Depreciation
72954 usd
CY2022Q1 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
7728 usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
126836 usd
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
144261 usd
CY2023Q1 SOWG Amortization Of Warrants
AmortizationOfWarrants
370678 usd
CY2022Q1 SOWG Amortization Of Warrants
AmortizationOfWarrants
59724 usd
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-57081092 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
348441 usd
CY2023Q2 us-gaap Cash
Cash
1900000 usd
CY2023Q1 SOWG Prepaid Software Licenses
PrepaidSoftwareLicenses
21379 usd
CY2022Q4 SOWG Prepaid Software Licenses
PrepaidSoftwareLicenses
36424 usd
CY2023Q1 us-gaap Prepaid Insurance
PrepaidInsurance
14088 usd
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
16746 usd
CY2023Q1 SOWG Trade Show Advances
TradeShowAdvances
23901 usd
CY2022Q4 SOWG Trade Show Advances
TradeShowAdvances
18707 usd
CY2023Q1 us-gaap Prepaid Rent
PrepaidRent
0 usd
CY2022Q4 us-gaap Prepaid Rent
PrepaidRent
27043 usd
CY2023Q1 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
21660 usd
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
38772 usd
CY2023Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
81028 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
137692 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5755158 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5543252 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
584475 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
508257 usd
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
65226 usd
CY2023Q1 SOWG Lease Expiration Date
LeaseExpirationDate
2025-08-31
CY2023Q1 SOWG Monthly Lease Payment
MonthlyLeasePayment
10036 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
17318 usd
CY2022Q1 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
16649 usd
CY2023Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
19402 usd
CY2022Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
20071 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
36720 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
36720 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1244207 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1261525 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
54265 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
52543 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1287093 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1301355 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1341358 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1353898 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P13Y
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P13Y3M18D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0575 pure
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0575 pure
CY2023Q1 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
12540 usd
CY2022Q1 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
10941 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
97104 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
132917 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
136905 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
141012 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
1412988 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1920926 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
579568 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1341358 usd
CY2023Q1 SOWG Notes Payable Related Parties Current And Noncurrent1
NotesPayableRelatedPartiesCurrentAndNoncurrent1
7445000 usd
CY2022Q4 SOWG Notes Payable Related Parties Current And Noncurrent1
NotesPayableRelatedPartiesCurrentAndNoncurrent1
6195000 usd
CY2023Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
3230987 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
2692757 usd
CY2023Q1 SOWG Notes Payable Related Parties Current And Noncurrent Net
NotesPayableRelatedPartiesCurrentAndNoncurrentNet
4214013 usd
CY2022Q4 SOWG Notes Payable Related Parties Current And Noncurrent Net
NotesPayableRelatedPartiesCurrentAndNoncurrentNet
3502243 usd
CY2023Q1 SOWG Notes Payable Related Parties Classified Current1
NotesPayableRelatedPartiesClassifiedCurrent1
0 usd
CY2022Q4 SOWG Notes Payable Related Parties Classified Current1
NotesPayableRelatedPartiesClassifiedCurrent1
0 usd
CY2023Q1 SOWG Notes Payable Related Parties Noncurrent1
NotesPayableRelatedPartiesNoncurrent1
4214013 usd
CY2022Q4 SOWG Notes Payable Related Parties Noncurrent1
NotesPayableRelatedPartiesNoncurrent1
3502243 usd
CY2023Q1 us-gaap Interest Expense Other
InterestExpenseOther
117556 usd
CY2022Q1 us-gaap Interest Expense Other
InterestExpenseOther
42575 usd
CY2023Q1 us-gaap Notes And Loans Payable
NotesAndLoansPayable
730000 usd
CY2022Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
730000 usd
CY2023Q1 us-gaap Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
299598 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
336085 usd
CY2023Q1 us-gaap Notes Payable
NotesPayable
430402 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
393915 usd
CY2023Q1 us-gaap Notes Payable Current
NotesPayableCurrent
0 usd
CY2022Q4 us-gaap Notes Payable Current
NotesPayableCurrent
0 usd
CY2023Q1 us-gaap Long Term Notes Payable
LongTermNotesPayable
430402 usd
CY2022Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
393915 usd
CY2022Q2 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
444330 usd
CY2023Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
8581 usd
CY2022Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
1494 usd
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
4847384 shares
CY2023Q1 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
8877000 usd
CY2023Q1 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
0 usd
CY2023Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
8877000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q1 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2025-09-15
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
10036 usd

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0001683168-23-003625-index-headers.html Edgar Link pending
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0001683168-23-003625.txt Edgar Link pending
0001683168-23-003625-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
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sowg-20230331.xsd Edgar Link pending
sowgood_3101.htm Edgar Link pending
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sowgood_i10q-33123.htm Edgar Link pending
sowg-20230331_def.xml Edgar Link unprocessable
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sowgood_i10q-33123_htm.xml Edgar Link completed
sowg-20230331_cal.xml Edgar Link unprocessable