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Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current Assets    
Cash $ 7,550,000 $ 6,703,000
Inventory 2,186,000 6,871,000
Returns asset 1,621,000 1,919,000
Prepaid expenses and other current assets 120,000 136,000
Total Current Assets 16,763,000 23,206,000
Property and equipment, net 284,000 404,000
Operating leases - right of use assets 95,000 3,926,000
Other non-current assets 29,000 179,000
Intangible assets, net 345,000
Goodwill 786,000 (0)
Total Assets 18,302,000 27,715,000
Current Liabilities    
Accounts payable 3,808,000 7,616,000
Accrued expenses 4,224,000 2,614,000
Refund due to customer 38,000 1,743,000
Customer prepayments 687,000
Reserve for sales returns 3,355,000 3,390,000
Warrant liability 16,603,000
Other current liabilities 145,000 159,000
Total Current Liabilities 28,438,000 16,209,000
Operating lease liabilities, net of current portion 3,925,000
Other liabilities 3,000
Total Liabilities 28,823,000 20,137,000
Commitments and Contingencies  
Shareholders’ (Deficit) Equity    
Preferred stock, $1.00 par value; 1,000,000 shares authorized; no shares issued and outstanding
Common stock $0.01 par value; 100,000,000 shares authorized; 470,825 and 32,090 shares issued and outstanding at December 31, 2024 and 2023. 5,000
Additional paid-in capital 39,682,000 33,493,000
Accumulated deficit (49,172,000) (25,915,000)
Non-controlling interest (1,036,000)
Total Algorhythm Holdings Shareholders’ (Deficit) Equity (10,521,000) 7,578,000
Total Liabilities and Shareholders’ (Deficit) Equity 18,302,000 27,715,000
Nonrelated Party [Member]    
Current Assets    
Accounts receivable 4,373,000 7,308,000
Related Party [Member]    
Current Assets    
Accounts receivable 212,000 269,000
Note receivable 701,000
Current Liabilities    
Notes payable 265,000
Notes payable to related parties, net of current portion $ 385,000