Rennova Health's Response to COVID-19

Financials

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v3.23.3
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash $ 123,898 $ 499,470
Accounts receivable, net 1,790,952 3,110,969
Inventory 265,957 242,645
Prepaid expenses and other current assets 156,308 215,365
Income tax refunds receivable 837,460 837,460
Total current assets 5,677,034 6,363,162
Property and equipment, net 4,267,538 4,194,299
Intangible asset 259,443 259,443
Investment 9,016,072 9,016,072
Deposits 224,413 165,530
Right-of-use assets 400,937 574,256
Total assets 19,845,437 20,572,762
Current liabilities:    
Accounts payable (includes related party amounts of $27,715 and $47,636, respectively) 12,122,246 11,514,322
Accrued expenses 19,460,163 19,563,808
Income taxes payable 1,674,986 1,348,425
Current portion of notes payable 1,194,451 2,917,390
Current portion of loan payable, related party 2,198,000 2,995,000
Current portion of debentures 8,222,240 8,622,240
Current portion of right-of-use operating lease obligations 175,923 215,063
Current portion of finance lease obligation 220,461 220,461
Derivative liability 455,336 455,336
Current liabilities of discontinued operations 1,465,325 1,456,112
Total current liabilities 47,189,131 49,308,157
Right-of-use operating lease obligations, net of current portion 225,014 359,193
Total liabilities 47,414,145 49,667,350
Commitments and contingencies
Stockholders’ deficit:    
Common stock, $0.0001 par value, 250,000,000,000 shares authorized, 37,051,322,257 and 29,084,322,257 shares issued and outstanding, respectively 3,705,132 2,908,432
Additional paid-in-capital 1,670,775,141 1,671,571,834
Accumulated deficit (1,702,042,616) (1,703,577,780)
Total Rennova’s stockholders’ deficit (27,559,424) (29,094,588)
Noncontrolling interest (9,284)
Total stockholders’ deficit (27,568,708) (29,094,588)
Total liabilities and stockholders’ deficit 19,845,437 20,572,762
Series H Preferred Stock [Member]    
Stockholders’ deficit:    
Preferred stock value
Series L Preferred Stock [Member]    
Stockholders’ deficit:    
Preferred stock value 2,500 2,500
Series M Preferred Stock [Member]    
Stockholders’ deficit:    
Preferred stock value 208 208
Series N Preferred Stock [Member]    
Stockholders’ deficit:    
Preferred stock value 24 29
Series O Preferred Stock [Member]    
Stockholders’ deficit:    
Preferred stock value 85 87
Series P Preferred Stock [Member]    
Stockholders’ deficit:    
Preferred stock value 102 102
Related Party [Member]    
Current assets:    
Note receivable / receivable from related party 2,502,459 1,457,253
Current liabilities:    
Current portion of loan payable, related party $ 2,198,000 $ 2,995,000

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v3.23.3
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Net revenues $ 3,538,095 $ 2,825,937 $ 14,843,210 $ 7,576,693
Operating expenses:        
Direct costs of revenues 1,806,517 1,823,473 5,493,670 4,769,789
General and administrative expenses 2,275,755 1,809,835 6,851,183 5,262,338
Depreciation and amortization 56,796 117,441 250,288 351,481
Total operating expenses 4,139,068 3,750,749 12,595,141 10,383,608
Income (loss) from continuing operations before other income (expense), income taxes and net loss attributable to noncontrolling interest (600,973) (924,812) 2,248,069 (2,806,915)
Other income (expense):        
Other income, net 281,963 129,451 537,077 87,170
Gain from forgiveness of debt 200,000 334,819
Gain (loss) from legal settlements, net 60,808 286,719 (15,410)
Interest expense (420,551) (605,312) (1,404,298) (1,705,502)
Total other income (expense), net (138,588) (415,053) (380,502) (1,298,923)
Income (loss) from continuing operations before income taxes, including noncontrolling interest (739,561) (1,339,865) 1,867,567 (4,105,838)
Benefit (provision) for income taxes 184,524 (332,476)
Net income (loss) from continuing operations, including noncontrolling interest (555,037) (1,339,865) 1,535,091 (4,105,838)
Net loss from discontinued operations (1,116) (1,696) (9,213) (7,075)
Net income (loss), including noncontrolling interest (556,153) (1,341,561) 1,525,878 (4,112,913)
Net loss attributable to noncontrolling interest 7,924 9,286
Net income (loss) attributable to Rennova (548,229) (1,341,561) 1,535,164 (4,112,913)
Deemed dividends (330,876,369)
Net income (loss) available to common stockholders $ (548,229) $ (1,341,561) $ 1,535,164 $ (334,989,282)
Net income (loss) per share of common stock available to common stockholders - basic:        
Continuing operations $ (0.00) $ (0.00) $ 0.00 $ (0.08)
Discontinued operations (0.00) (0.00) (0.00) (0.00)
Total basic (0.00) (0.00) 0.00 (0.08)
Net income (loss) per share of common stock available to common stockholders - diluted:        
Continuing operations (0.00) (0.00) 0.00 (0.08)
Discontinued operations (0.00) (0.00) (0.00) (0.00)
Total diluted $ (0.00) $ (0.00) $ 0.00 $ (0.08)
Weighted average number of shares - basic 31,401,420,083 10,569,572,256 30,369,571,341 4,130,876,898
Weighted average number of shares - diluted 31,401,420,083 10,569,572,256 503,057,511,874 4,130,876,898

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v3.23.3
Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Cash flows from operating activities:          
Net income (loss) from continuing operations, including noncontrolling interest $ (555,037) $ (1,339,865) $ 1,535,091 $ (4,105,838)  
Adjustments to reconcile net income (loss) to net cash provided by (used in) operations:          
Depreciation and amortization 56,796 117,441 250,288 351,481  
Non-cash interest income     (36,455) (80,156)  
Loss from disposition of property and equipment     1,215  
Net (gain) loss from legal settlements (60,808) (286,719) 15,410  
Gain from forgiveness of debt (200,000) (334,819)  
(Income) loss from federal government provider relief funds     (285,572) 267,758  
Loss from discontinued operations     (9,213) (7,075)  
Changes in operating assets and liabilities:          
Accounts receivable     1,320,017 (774,975)  
Inventory     (23,312) 6,869  
Prepaid expenses and other current assets     59,059 5,031  
Security deposits     (58,883) (40,000)  
Change in right-of-use assets     173,319 180,888  
Accounts payable     607,924 808,097  
Accrued expenses     (105,560) 2,722,120  
Income taxes payable     326,561  
Change in right-of-use operating lease obligations     (173,319) (180,888)  
Net cash provided by (used in) operating activities of continuing operations     3,093,226 (1,164,882)  
Net cash provided by (used in) operating activities of discontinued operations     9,213 (1,714)  
Net cash provided by (used in) operating activities     3,102,439 (1,166,596)  
Cash flows from investing activities:          
Note receivable / receivable from related party     (1,008,751) (506,540)  
Capital expenditures     (323,527) (34,794)  
Net cash used in investing activities of continuing operations     (1,332,278) (541,334)  
Cash flows from financing activities:          
Proceeds from issuance of related party loan payable     580,000 900,000  
Payments of related party loan payable     (1,377,000)  
Payments of debentures     (400,000)  
Payments of notes payable     (948,733) (1,213,495)  
Receivables paid under accounts receivable sales agreements     (476,471)  
Proceeds from issuances of preferred stock     1,500,000  
Proceeds from federal government provider relief funds     284,339  
Cash paid for fractional shares in connection with reverse stock split     (9)  
Net cash (used in) provided by financing activities of continuing operations     (2,145,733) 994,364  
Net change in cash     (375,572) (713,566)  
Cash at beginning of period     499,470 724,524 $ 724,524
Cash at end of period $ 123,898 $ 10,958 $ 123,898 $ 10,958 $ 499,470

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