CFN Enterprises Inc. Files Q3 2024 10-Q Report

TL;DR

CFN Enterprises Q3 2024 10-Q filed. Check financials.

AI Summary

CFN Enterprises Inc. filed its quarterly report for the period ending September 30, 2024. The company, formerly known as Accelerize Inc., is incorporated in Delaware and headquartered in Whitefish, Montana. The filing covers the third quarter of 2024 and provides financial data for the nine months ended September 30, 2024.

Why It Matters

This filing provides investors with an update on CFN Enterprises Inc.'s financial performance and position as of the end of the third quarter of 2024.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the company's financial health and future prospects are not detailed enough in this header information to assess a definitive risk level.

Key Numbers

• 20240930 — Reporting Period End Date (The end date for the financial reporting period covered by this 10-Q filing.)
• 20241115 — Filing Date (The date on which this 10-Q report was officially filed with the SEC.)

Key Players & Entities

• CFN Enterprises Inc. (company) — Filer
• Accelerize Inc. (company) — Former company name
• 20240930 (date) — Reporting period end date
• 20241115 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — nding of the registrant's Common Stock, $0.001 par value per share, as of November 14,
• $1,946,327 — 2024 and December 31, 2023 amounted to $1,946,327 and $796,251, respectively. 6 Invento
• $796,251 — ber 31, 2023 amounted to $1,946,327 and $796,251, respectively. 6 Inventory The Comp

Filing Documents

• cnfn-20240930.htm (10-Q) — 671KB
• cfn_ex31z1.htm (EX-31.1) — 9KB
• cfn_ex32z1.htm (EX-32.1) — 4KB
• 0001096906-24-002167.txt ( ) — 3762KB
• cnfn-20240930_cal.xml (EX-101.CAL) — 31KB
• cnfn-20240930_def.xml (EX-101.DEF) — 133KB
• cnfn-20240930_lab.xml (EX-101.LAB) — 235KB
• cnfn-20240930_pre.xml (EX-101.PRE) — 214KB
• cnfn-20240930.xsd (EX-101.SCH) — 50KB
• cnfn-20240930_htm.xml (XML) — 435KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION: 1

Financial Statements and accompanying Notes to the Financial Statements (Unaudited)

Item 1. Financial Statements and accompanying Notes to the Financial Statements (Unaudited) 1

Management's Discussion and Analysis of Financial Position and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Position and Results of Operations 16

Controls and Procedures

Item 4. Controls and Procedures 22

- OTHER INFORMATION

PART II - OTHER INFORMATION: 23

Legal Proceedings

Item 1. Legal Proceedings 23

. Exhibits

Item 6 . Exhibits 23

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements CFN ENTERPRISES INC. CONDENSED CONSOLIDATED BALANCE SHEETS September 30, December 31, 2024 2023 (Unaudited) ASSETS Current assets: Cash $ 263,702 $ 78,744 Restricted cash - 20,448 Accounts receivable, net 2,359,910 942,248 Inventory 4,236,923 1,796,227 Total current assets 6,860,535 2,837,667 Property and equipment, net 167,571 156,343 Right of use asset 1,717,440 2,159,043 Deposits 297,269 297,269 Other assets 8,810 8,910 Total assets $ 9,051,625 $ 5,459,232 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable $ 5,794,009 $ 3,018,531 Accrued liabilities 6,238,100 3,828,063 Due to related party 501,140 501,140 Deferred revenue 219,030 484,212 Current portion of notes payable 7,504,045 7,272,357 Due to seller 1,000,000 1,000,000 Contingent consideration 208,000 208,000 Current portion of right of use liability 179,148 822,259 Current liabilities of discontinued operations 79,823 79,823 Total current liabilities 21,723,295 17,214,385 Right of use liability 1,606,735 1,547,410 Long-term note payable, net of current portion and discounts 128,443 128,443 Total liabilities 23,458,473 18,890,238 Commitments and contingencies Stockholders' deficit: Series A preferred stock, $ 0.001 par value, 500 shares authorized, 500 shares issued and outstanding as of both September 30, 2024 and December 31, 2023 1 1 Series B preferred stock, $ 0.001 par value, 3,000 shares authorized, 3,000 shares issued and outstanding as of both September 30, 2024 and December 31, 2023 3 3 Common stock, $ 0.001 par value, 500,000,000 shares authorized, 82,210,664 shares issued and outstanding as of both September 30, 2024 and December 31, 2023 82,210 82,210 Additional paid-in capital 61,039,808 60,909,641 Accumulated deficit ( 75,528,870 ) ( 74,422,861 ) Total stockholders' deficit ( 14,4

View Full Filing

View this 10-Q filing on SEC EDGAR