DarkPulse, Inc. Files Q3 2024 10-Q Report

TL;DR

**DarkPulse Q3 10-Q filed. Financials and operations update for Sept 2024.**

AI Summary

DarkPulse, Inc. filed its quarterly report on Form 10-Q for the period ending September 30, 2024. The company, formerly known as VIDEOCART INC and KLEVER MARKETING INC, is based in New York and operates in the prepackaged software industry. The filing covers the period from January 1, 2024, to September 30, 2024, and includes financial data for the third quarter of 2024.

Why It Matters

This filing provides investors with an update on DarkPulse, Inc.'s financial performance and operational status for the third quarter of 2024, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a publicly traded company filing a 10-Q, there are inherent risks associated with financial reporting and market performance.

Key Numbers

• Q3 2024 — Reporting Period (The financial and operational data pertains to the third quarter of 2024.)
• 2024-01-01 to 2024-09-30 — Fiscal Year to Date (The report covers the cumulative period from the start of the fiscal year up to September 30, 2024.)

Key Players & Entities

• DarkPulse, Inc. (company) — Filer of the 10-Q report
• VIDEOCART INC (company) — Former company name
• KLEVER MARKETING INC (company) — Former company name
• 20240930 (date) — Conformed period of report
• 20241119 (date) — Filing date

FAQ

Key Financial Figures

• $0.0001 — nding of the registrant's common stock, $0.0001 par value per share, outstanding as of
• $19.4 million — l months. The Company has approximately $19.4 million intercompany payables due from Optilan
• $250,000 — it Insurance Corporation ("FDIC") up to $250,000. To reduce its risk associated with the

Filing Documents

• darkpulse_i10q-93024.htm (10-Q) — 1208KB
• darkpulse_ex3101.htm (EX-31.1) — 11KB
• darkpulse_ex3201.htm (EX-32.1) — 4KB
• 0001683168-24-008254.txt ( ) — 5942KB
• dpls-20240930.xsd (EX-101.SCH) — 48KB
• dpls-20240930_cal.xml (EX-101.CAL) — 67KB
• dpls-20240930_def.xml (EX-101.DEF) — 202KB
• dpls-20240930_lab.xml (EX-101.LAB) — 369KB
• dpls-20240930_pre.xml (EX-101.PRE) — 318KB
• darkpulse_i10q-93024_htm.xml (XML) — 833KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION 3

Financial Statements

Item 1. Financial Statements 3

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 35

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 47

Controls and Procedures

Item 4. Controls and Procedures 47

—OTHER INFORMATION

PART II—OTHER INFORMATION 48

Legal Proceedings

Item 1. Legal Proceedings 48

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 52

Other Information

Item 5. Other Information 53

Exhibits

Item 6. Exhibits 53

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements DARKPULSE, INC. Consolidated Balance Sheets September 30 December 31 2024 2023 Unaudited Audited ASSETS CURRENT ASSETS: Cash and cash equivalents $ 165,186 $ 11,912 Accounts receivable, net 927,381 868,948 Due from related party – – Prepaid expenses and other current assets 71,917 76,185 TOTAL CURRENT ASSETS 1,164,485 957,045 NON-CURRENT ASSETS: Property and equipment, net 721,504 743,282 Operating lease right-of-use assets 461,618 496,685 Patents, net 215,392 253,663 Goodwill 156,883 – Investment in related party – 1,500,000 Other assets, net 254,248 161,677 Intangible assets, net 24,770 – TOTAL NON-CURRENT ASSETS 1,834,415 3,155,307 TOTAL ASSETS $ 2,998,900 $ 4,112,353 LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES: Accounts payable and accrued expenses $ 17,845,825 $ 15,663,273 Convertible notes, net – 120,925 Notes payable, current 2,491,691 1,923,868 Derivative liability – 108,958 Loan payable, current 571,565 570,487 Loan payable, related party 361,747 361,747 Secured debenture, current 277,575 183,208 Operating lease liabilities - current 80,400 80,400 Other current liabilities 70,967 70,461 TOTAL CURRENT LIABILITIES 21,699,770 19,083,326 NON-CURRENT LIABILITIES: Secured debenture 832,725 916,042 Loan payable 291,967 291,968 Operating lease liabilities - non-current 459,709 496,335 TOTAL NON-CURRENT LIABILITIES 1,584,401 1,704,345 TOTAL LIABILITIES 23,284,171 20,787,671 Commitments and contingencies – – STOCKHOLDERS' DEFICIT: Series A Super Voting preferred stock - par value $ 0.01 ; 100 shares designated, 100 shares issued and outstanding at both September 30, 2024 and December 31, 2023 1 1 Convertible preferred stock - Series D, par value $ 0.01 , 100,000 shares designated, 88,235 shares issued and outstanding as of both September 30, 2024 and December 31, 2023 883

View Full Filing

View this 10-Q filing on SEC EDGAR