micromobility.com Inc. Q1 2024 10-Q Filed

TL;DR

MCOM 10-Q is in: Q1 2024 financials are here, check the balance sheet for stock and retained earnings.

AI Summary

micromobility.com Inc. filed its 10-Q for the period ending March 31, 2024. The company, formerly known as Helbiz, Inc., reported its financial performance for the first quarter of 2024. The filing includes balance sheet information as of March 31, 2024, and December 31, 2023, detailing various classes of common and preferred stock, as well as retained earnings and accumulated other comprehensive income.

Why It Matters

This filing provides investors with the latest financial snapshot of micromobility.com Inc., crucial for understanding the company's current financial health and performance trends.

Risk Assessment

Risk Level: medium — The company has a history of name changes and operates in a volatile industry, suggesting potential business risks.

Key Numbers

• 2024-03-31 — Balance Sheet Date (Current period end)
• 2023-12-31 — Previous Balance Sheet Date (Prior period end)

Key Players & Entities

• micromobility.com Inc. (company) — Filer
• Helbiz, Inc. (company) — Former company name
• GreenVision Acquisition Corp. (company) — Former company name
• 20240331 (date) — Reporting period end date
• 20240520 (date) — Filing date

FAQ

Key Financial Figures

• $0.00001 — 5,172 shares of common stock, par value $0.00001 per share, were issued and outstanding.
• $116 — a cumulative payment of $ 122 (of which $116 was principal, and $6 were payment prem
• $6 — $ 122 (of which $116 was principal, and $6 were payment premium). As a result of
• $1,102 — e satisfied in exchange of a payment of $1,102 (995 Euro), to be paid within June 30,
• $2,381 — . As of March 31, 2024, the Company has $2,381 as outstanding principal and accumulate
• $1,400 — th the following terms and conditions: $1,400 of the amount outstanding to be paid in
• $3 million — receive gross cash proceeds of at least $3 million from the offer and sale of any combinat
• $6 million — gregate gross cash proceeds of at least $6 million from the offer and sale of any combinat
• $1,505 — mpany has to repay Palella Holdings LLC $1,505 on an interest free basis on January 31

Filing Documents

• mcom_10q.htm (10-Q) — 646KB
• ex31x1.htm (EX-31.1) — 10KB
• ex31x2.htm (EX-31.2) — 10KB
• ex32x1.htm (EX-32.1) — 4KB
• ex32x2.htm (EX-32.2) — 4KB
• image_001.jpg (GRAPHIC) — 57KB
• image_002.jpg (GRAPHIC) — 55KB
• 0001079973-24-000791.txt ( ) — 4222KB
• mcom-20240331_lab.xml (EX-101.LAB) — 296KB
• mcom-20240331_pre.xml (EX-101.PRE) — 250KB
• mcom-20240331.xsd (EX-101.SCH) — 45KB
• mcom-20240331_cal.xml (EX-101.CAL) — 53KB
• mcom-20240331_def.xml (EX-101.DEF) — 137KB
• mcom_10q_htm.xml (XML) — 473KB

Financial Information

Part I. Financial Information 1

Unaudited Financial Statements

Item 1. Unaudited Financial Statements 1 Condensed Consolidated Balance Sheets as of March 31, 2024 (Unaudited) and December 31, 2023 1 Condensed Consolidated Statements of Operations and Comprehensive Loss for the three months ended March 31, 2024 and 2023 (unaudited) 2 Condensed Consolidated Statements Changes in Convertible Preferred Stock and Stockholders' Deficit for the three months ended March 31, 2024 and 2023 (unaudited) 3 Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 (unaudited) 5 Notes to Unaudited Condensed Consolidated Financial Statements 6

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 14

Quantitative and Qualitative Disclosures Regarding Market Risk

Item 3. Quantitative and Qualitative Disclosures Regarding Market Risk 22

Controls and Procedures

Item 4. Controls and Procedures 23

Other Information

Part II. Other Information 24

Legal Proceedings

Item 1. Legal Proceedings 24

Risk Factors

Item 1A. Risk Factors 24

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 24

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 24

Other Information

Item 5. Other Information 24

Exhibits

Item 6. Exhibits 25

Signatures

Part III. Signatures 26 i PART 1 – FINANCIAL INFORMATION

Interim Financial Statements

Item 1. Interim Financial Statements. Micromobility.com, Inc. ( Formerly Helbiz, Inc.) Condensed Consolidated Balance Sheets (in thousands, except share and per share data) (unaudited) March 31, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 127 $ 128 Accounts receivables 485 704 Accounts receivables - Related Party 1,344 — VAT receivables 79 928 Prepaid and other current assets 1,070 1,268 Total current assets 3,105 3,028 Property, equipment and deposits, net 2,009 2,435 Right of use assets 905 1,180 Other assets 393 389 TOTAL ASSETS $ 6,412 $ 7,032 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable $ 11,312 $ 11,598 Accounts payable related to media rights 8,508 11,394 Accrued expenses and other current liabilities 11,530 9,549 Deferred revenues 4,858 1,558 Operating lease liabilities 361 462 Short term financial liabilities, net 14,708 13,528 Total current Liabilities 51,277 48,089 Non-current financial liabilities, net 1,575 1,842 Operating lease liabilities 675 861 Other non-current liabilities 18 42 TOTAL LIABILITIES 53,545 50,834 Commitments and contingencies Note 9 STOCKHOLDERS' DEFICIT Preferred stock, $ 0.00001 par value; 100,000,000 shares authorized; none issued and outstanding — — Class A Common stock, $ 0.00001 par value; 900,000,000 shares authorized and; 45,185,172 and 8,856,230 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively. 210,950 210,339 Accumulated other comprehensive loss ( 1,567 ) ( 2,144 ) Accumulated deficit ( 256,516 ) ( 251,997 ) Total Stockholders' deficit ( 47,133 ) ( 43,802 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 6,412 7,032 The accompanying notes are an integral part of these condensed consolidated financial statements. 1 Micromobility.com, Inc. ( Formerly Helbiz, Inc.) Condensed Consolidated Sta

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