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Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 137,393,070 $ 103,022,932
Inventories 1,985,883 3,090,923
Finance lease receivables, current – related parties 8,443,338 6,143,564
Customer loans receivable, current 16,125,086 8,484,753
Prepaid expenses and other current assets 8,372,668 10,050,005
Total current assets 202,099,828 165,905,926
Non-current assets:    
Property and equipment, net 13,194,414 13,582,017
Intangible assets, net 16,218,233 19,739,276
Long-term investments 4,905,115 849,434
Goodwill, net 3,545,391 3,590,791
Finance lease receivables, non-current – related parties 4,629,047 3,420,489
Operating lease right-of-use assets 5,251,418 5,919,937
Deferred tax assets 624,564
Customer loans receivable, non-current 6,590,301 6,444,025
Long-term prepayments 4,308,810 4,099,763
Long-term investments in MCs – related parties 19,561,069 19,811,555
Other assets 15,550,402 15,442,058
Total non-current assets 94,378,764 92,899,345
Total assets 296,478,592 258,805,271
Current liabilities:    
Accounts payable 14,873,829 26,531,944
Current portion of long-term loans 136,683 156,217
Notes payable, current – related parties 10,202,360 3,369,203
Income tax payable 8,000,808 8,782,930
Operating lease liabilities, current 4,060,844 3,885,812
Accrued liabilities and other current liabilities 12,054,047 21,009,009
Total current liabilities 72,420,534 92,451,270
Non-current liabilities:    
Long-term loans 686,470 1,062,722
Notes payable, non-current – related parties 11,659,022 11,948,219
Deferred tax liabilities 3,515,825 6,013,565
Operating lease liabilities, non-current 1,528,972 2,444,316
Other liabilities 1,147,345 1,074,930
Total non-current liabilities 18,537,634 22,543,752
Total liabilities 90,958,168 114,995,022
Preferred stock ($0.0001 par value, 20,000,000 shares authorized; no shares issued and outstanding as of September 30, 2024 and December 31, 2023) [1]
Common stock ($0.0001 par value, 400,000,000 shares authorized, 103,020,816 and 94,192,433 shares issued and outstanding as of September 30, 2024 and December 31, 2023) [1] 10,302 9,419
Additional paid-in capital [1] 60,825,115 36,879,281
Treasury stock receivable (270,000 shares of common stock) - related party (2,700,000)
Retained earnings 182,923,786 142,848,732
Accumulated other comprehensive loss (36,078,149) (37,578,255)
Total SBC Medical Group Holdings Incorporated’s stockholders’ equity 204,981,054 142,159,177
Non-controlling interests 539,370 1,651,072
Total stockholders’ equity 205,520,424 143,810,249
Total liabilities and stockholders’ equity 296,478,592 258,805,271
Nonrelated Party [Member]    
Current assets:    
Accounts receivable 1,944,604 1,437,077
Current liabilities:    
Advances from customers 565,495 2,074,457
Related Party [Member]    
Current assets:    
Accounts receivable 27,835,179 33,676,672
Current liabilities:    
Advances from customers 18,994,015 23,058,175
Due to related party $ 3,532,453 $ 3,583,523
[1] Retrospectively restated for effect of reverse recapitalization on September 17, 2024.