Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.23.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Current Assets:    
Cash and cash equivalents $ 1,791,296 $ 1,480,371
Accounts receivable, net, $2,939,166 and $2,107,015 from related party, respectively 7,879,898 2,555,525
Prepaid expenses and other assets 2,149,256 902,090
Inventory 21,058,123 3,033,653
Total Current Assets 32,878,573 7,971,639
Property and equipment, net 26,499 25,873
Operating lease right-of-use assets 21,594 61,353
Intangibles, net 18,247,808 198,403
Goodwill 72,451,497 32,836,563
Note receivable, related party 95,640
Total Assets 123,625,971 41,189,471
Current Liabilities:    
Accounts payable 14,757,183 3,245,573
Other payables and accrued liabilities 1,640,764 1,135,803
Accrued interest, related party 5,682 6,960
Fair value of potential Share Adjustment 43,039,132
Treasury stock payable, current 131,400 131,400
Notes payable, $472,500 and $2,475,033 from related party, respectively 472,500 3,109,535
Line of Credit 4,343,500
Lease liability 19,167 61,605
Total Current Liabilities 64,409,328 7,690,876
Treasury stock payable, net of current portion 65,700
Loans payable, net of current portion, $3,991,967 and $572,500 from related party, respectively 3,991,967 572,500
Total Liabilities 68,401,295 8,329,076
Stockholders’ Equity:    
Preferred stock, $.001 par value; 40,000,000 shares authorized; no shares issued and outstanding, at June 30, 2023 and December 31, 2022, respectively
Additional paid in capital 70,829,709 43,332,886
Treasury stock at cost (394,200) (394,200)
Equity consideration payable 9,417,847 7,114,513
Accumulated deficit (25,318,005) (17,578,219)
Total Starco Brands’ Stockholders’ Equity 55,004,901 32,766,413
Non-controlling interest 219,775 93,982
Total Stockholders’ Equity 55,224,676 32,860,395
Total Liabilities and Stockholders’ Equity 123,625,971 41,189,471
Common Class A [Member]    
Stockholders’ Equity:    
Class B common stock, $.001 par value; 300,000,000 shares authorized no shares issued and outstanding, at June 30, 2023 and December 31, 2022, respectively 469,550 291,433
Common Class B [Member]    
Stockholders’ Equity:    
Class B common stock, $.001 par value; 300,000,000 shares authorized no shares issued and outstanding, at June 30, 2023 and December 31, 2022, respectively