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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Current Assets    
Cash $ 3,296,000 $ 7,550,000
Inventory 1,895,000 2,186,000
Returns asset 751,000 1,621,000
Prepaid expenses and other current assets 126,000 120,000
Total Current Assets 9,011,000 16,763,000
Property and equipment, net 253,000 284,000
Other non-current assets 81,000 124,000
Intangible assets, net 330,000 345,000
Goodwill 786,000 786,000
Total Assets 10,461,000 18,302,000
Current Liabilities    
Accounts payable 1,301,000 3,808,000
Accrued expenses 2,414,000 4,224,000
Refund due to customer 630,000 38,000
Reserve for sales returns 1,742,000 3,355,000
Warrant liability 16,603,000
Current portion of notes payable to related parties 551,000 265,000
Other current liabilities 97,000 145,000
Total Current Liabilities 6,735,000 28,438,000
Total Liabilities 7,120,000 28,823,000
Commitments and Contingencies
Shareholders’ Equity (Deficit)    
Preferred stock, $1.00 par value; 1,000,000 shares authorized; no shares issued and outstanding at March 31, 2025 and December 31, 2024
Common stock, $0.01 par value; 800,000,000 and 100,000,000 shares authorized; 2,394,829 and 470,825 shares issued and outstanding at March 31, 2025 and December 31, 2024 24,000 5,000
Additional paid-in capital 63,577,000 39,682,000
Accumulated deficit (58,363,000) (49,172,000)
Non-controlling interest (1,139,000) (1,036,000)
Treasury stock, 10,990 and -0- shares reserved at March 31, 2025 and 2024 (758,000)
Total Algorhythm Holdings Shareholders’ Equity (Deficit) 3,341,000 (10,521,000)
Total Liabilities and Shareholders’ Equity (Deficit) 10,461,000 18,302,000
Nonrelated Party [Member]    
Current Assets    
Accounts receivable 1,385,000 4,373,000
Related Party [Member]    
Current Assets    
Accounts receivable 357,000 212,000
Note receivable, related party 1,201,000 701,000
Current Liabilities    
Notes payable to related parties, net of current portion $ 385,000 $ 385,000