micromobility.com Inc. Files 2023 Annual Report (10-K)

TL;DR

<b>micromobility.com Inc. (MCOM) filed its 2023 10-K report, detailing its financial performance and corporate structure.</b>

AI Summary

micromobility.com Inc. (MCOMW) filed a Annual Report (10-K) with the SEC on April 16, 2024. Filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company was formerly known as Helbiz, Inc. and GreenVision Acquisition Corp. Reports business address at 500 Broome St., New York, NY 10013. Fiscal year end is December 31. Incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking micromobility.com Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of the company's financial health, operational activities, and strategic direction for the fiscal year 2023. Understanding the details within this report is crucial for investors to assess the company's current standing, identify potential risks, and evaluate future prospects in the micromobility market.

Risk Assessment

Risk Level: medium — micromobility.com Inc. shows moderate risk based on this filing. The filing is a standard 10-K, which typically contains detailed financial information and risk factors, but lacks specific performance metrics or forward-looking statements in the provided snippet, necessitating a deeper review for a full assessment.

Analyst Insight

Review the full 10-K filing to analyze revenue segments, operational costs, debt levels, and management's discussion of risks and future strategies.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-04-16 — Filing Date (Filed as of date)
• 7389 — SIC Code (Standard Industrial Classification)
• 001-39136 — SEC File Number (SEC file number)

Key Players & Entities

• micromobility.com Inc. (company) — Filer name
• Helbiz, Inc. (company) — Former company name
• GreenVision Acquisition Corp. (company) — Former company name
• 500 Broome St. (location) — Business and mailing address
• New York (location) — City for business and mailing address
• DE (location) — State of incorporation

FAQ

Industry Context

The company operates in the business services sector, specifically focusing on micromobility solutions.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934.

What Investors Should Do

1. Thoroughly review the financial statements and Management's Discussion and Analysis (MD&A) section of the 10-K.
2. Identify and assess the specific risk factors detailed in the filing.
3. Compare the 2023 financial results with previous years to understand trends and performance changes.

Year-Over-Year Comparison

This is the 2023 annual report filing (10-K). Specific comparative data from the previous filing (e.g., 2022 10-K) is not detailed in this snippet.

Key Financial Figures

• $16.95 — on based upon the closing sale price of $16.95. As of April 9, 2024, there were 45,1
• $0.00001 — hares of the registrant's common stock, $0.00001 par value, outstanding. TABLE OF CONTE
• $11,394 — nt of the invoices overdue amounting to $11,394. In February 2024, the Company entered
• $5,392 — agreements in exchange of a payment of $5,392, divided in three payments on or prior

Filing Documents

• mcom_10k.htm (10-K) — 1894KB
• ex10x21.htm (EX-10.21) — 11KB
• ex10x22.htm (EX-10.22) — 33KB
• ex10x23.htm (EX-10) — 9KB
• ex21x1.htm (EX-21.1) — 9KB
• ex23x1.htm (EX-23.1) — 2KB
• ex31x1.htm (EX-31.1) — 12KB
• ex31x2.htm (EX-31.2) — 12KB
• ex32x1.htm (EX-32.1) — 4KB
• ex32x2.htm (EX-32.2) — 4KB
• image_001.jpg (GRAPHIC) — 38KB
• image_002.jpg (GRAPHIC) — 78KB
• image_003.jpg (GRAPHIC) — 56KB
• image_004.jpg (GRAPHIC) — 37KB
• image_005.jpg (GRAPHIC) — 35KB
• image_001.gif (GRAPHIC) — 12KB
• image_238.jpg (GRAPHIC) — 104KB
• image_239.jpg (GRAPHIC) — 113KB
• image_240.jpg (GRAPHIC) — 114KB
• image_241.jpg (GRAPHIC) — 112KB
• image_242.jpg (GRAPHIC) — 134KB
• image_243.jpg (GRAPHIC) — 111KB
• image_244.jpg (GRAPHIC) — 122KB
• image_245.jpg (GRAPHIC) — 139KB
• image_246.jpg (GRAPHIC) — 99KB
• image_247.jpg (GRAPHIC) — 50KB
• 0001079973-24-000555.txt (&nbsp;) — 12168KB
• mcom-20231231.xsd (EX-101.SCH) — 97KB
• mcom-20231231_cal.xml (EX-101.CAL) — 72KB
• mcom-20231231_def.xml (EX-101.DEF) — 348KB
• mcom-20231231_lab.xml (EX-101.LAB) — 595KB
• mcom-20231231_pre.xml (EX-101.PRE) — 531KB
• mcom_10k_htm.xml (XML) — 1639KB

RISK FACTORS

ITEM 1A. RISK FACTORS 9

UNRESOLVED STAFF COMMENTS

ITEM 1B. UNRESOLVED STAFF COMMENTS 26

CYBERSECURITY

ITEM 1C. CYBERSECURITY 26

PROPERTIES

ITEM 2. PROPERTIES 27

LEGAL PROCEEDINGS

ITEM 3. LEGAL PROCEEDINGS 27

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 27 PART II 28

MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 28

[RESERVED]

ITEM 6. [RESERVED] 28

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 28

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 39

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA F-1

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 40

CONTROLS AND PROCEDURES

ITEM 9A. CONTROLS AND PROCEDURES 40

OTHER INFORMATION

ITEM 9B. OTHER INFORMATION

DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT

ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 40 PART III 41

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 41

EXECUTIVE COMPENSATION

ITEM 11. EXECUTIVE COMPENSATION 45

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 46

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 47

PRINCIPAL ACCOUNTING FEES AND SERVICES

ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES 47 PART IV 47

EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 48

FORM 10-K SUMMARY

ITEM 16. FORM 10-K SUMMARY 49

SIGNATURES

SIGNATURES 50 Explanatory Note All per share amounts in this annual report (except where otherwise indicated) account for (i) a 1:50 reverse stock split of our common stock that occurred on March 30, 2023 and (ii) a 1:150 reverse stock split of our common stock that occurred on December 4, 2023. On August 12, 2023, the Company's issued and outstanding shares of Class B common stock were automatically converted into shares of Class A common stock and such Class B Shares thereafter ceased to be an authorized class of the Company's capital stock. As there is currently only one class of common stock, all references in this annual report to common stock are to Class A common Stock unless the context requires otherwise.

Forward-Looking Statements

Forward-Looking Statements incorporated by reference herein that are not strictly historical may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act and Section 21E of the Exchange Act and involve a number of risks and uncertainties. There are a number of important factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements, many of which are outside of the control of the Company, and you should not place undue reliance on any such forward-looking statements. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "estimate," "plan," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. The forward-looking statements made herein speak only as of the date hereof and the Company does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise, except as required by law. i PART I

BUSINESS

ITEM 1. BUSINESS General We provide innovative and sustainable transportation solutions that help people move seamlessly within cities. Our journey began with e-scooters in Italy in 2018, and today we have evolved into a multi-modal micro-mobility ecosystem offering micro-mobility electric vehicles. We primarily offer short-term rentals of shares e-vehicles in several cities and service areas (such as university campuses), in the United States and Italy. Since the start of our 2023 fiscal year, we have had to significantly reduce the number of cities and service areas in which we operate and the size of our fleets of vehicles in those cities in response to the cost of our operations, our ability to attract a necessary number of new customers, the failure of the micromobility in general to meet expected growth projections and general financial market conditions. We may need to further reduce our shared micromobility operations to meet our continued budget constraints. Our micromobility offerings also include a Wheels vehicle, a sit-down e-scooter, rentable on a monthly basis. We also generate a minor portion of our revenue by selling advertising opportunities related to our offerings. We also operated Helbiz Kitchen, our service through which users can order food for delivery through our mobile app, and Helbiz Media, our wholly-owned subsidiary dedicated to the acquisition and distribution of content over an internally developed stand-alone app. In an effort to focus our operations on our micromobility services and to reduce our operating costs, we discontinued our Helbiz Kitchen operations and we significantly reduced Helbiz Media operations in our fiscal 2023. Our Platform Helbiz is built around its technology and operational strengths. Technology Seamlessly Integrated Ecosystem We have built an ecosystem of tools, software and hardware for consumers, operations, and drivers. Instead of relying on a variety of limited third-party solutions, every too

View Full Filing

View this 10-K filing on SEC EDGAR