micromobility.com Inc. Files Q2 2024 10-Q

TL;DR

MCOM 10-Q filed: Q2 2024 results are in. Check financials.

AI Summary

micromobility.com Inc. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as Helbiz, Inc., reported its financial performance for the second quarter of 2024. Key financial details and operational updates are provided in this filing.

Why It Matters

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

Risk Assessment

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

Key Players & Entities

• micromobility.com Inc. (company) — Filer
• Helbiz, Inc. (company) — Former company name
• GreenVision Acquisition Corp. (company) — Former company name
• 20240630 (date) — Period of report
• 20240717 (date) — Filing date

FAQ

Key Financial Figures

• $0.00001 — 4,637 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
• $6,057 — ed loans Unsecured loans amounting to $6,057 as of June 30, 2024, is composed by mul
• $2,381, b — tiple loans: a) 2022 unsecured note for $2,381, b) Wheels unsecured debts for $1,400, c)
• $1,400 — r $2,381, b) Wheels unsecured debts for $1,400, c) $1,917 of long-term bank loan obtai
• $1,917 — ) Wheels unsecured debts for $1,400, c) $1,917 of long-term bank loan obtained in 2020
• $359 — olly-owned Italian subsidiaries, and d) $359 long-term bank loans of which $100 is o
• $100 — d d) $359 long-term bank loans of which $100 is overdue, these loans are inherited f
• $1,102 — e satisfied in exchange of a payment of $1,102 (995 Euro), to be paid within June 30,

Filing Documents

• mcom_10q-063024.htm (10-Q) — 999KB
• ex10x1.htm (EX-10.1) — 17KB
• ex31x1.htm (EX-31.1) — 8KB
• ex31x2.htm (EX-31.2) — 8KB
• ex32x1.htm (EX-32.1) — 4KB
• image_001.gif (GRAPHIC) — 111KB
• image_002.gif (GRAPHIC) — 103KB
• 0001079973-24-001067.txt ( ) — 5644KB
• mcom-20240630.xsd (EX-101.SCH) — 49KB
• mcom-20240630_cal.xml (EX-101.CAL) — 55KB
• mcom-20240630_def.xml (EX-101.DEF) — 144KB
• mcom-20240630_lab.xml (EX-101.LAB) — 312KB
• mcom-20240630_pre.xml (EX-101.PRE) — 261KB
• mcom_10q-063024_htm.xml (XML) — 778KB

Financial Information

Part I. Financial Information 1

Unaudited Financial Statements

Item 1. Unaudited Financial Statements 1 Condensed Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 2023 1 Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and six months ended June 30, 2024 and 2023 (unaudited) 2 Condensed Consolidated Statements Changes in Convertible Preferred Stock and Stockholders' Deficit for the three and six months ended June 30, 2024 and 2023 (unaudited) 3 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 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 22

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 25

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 25

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 25

Other Information

Item 5. Other Information 25

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) June 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 162 $ 128 Accounts receivables 515 704 Accounts receivables - Related Party 129 — VAT receivables 129 928 Prepaid and other current assets 1,003 1,268 Total current assets 1,938 3,028 Property, equipment and deposits, net 1,680 2,435 Right of use assets 712 1,180 Other assets 392 389 TOTAL ASSETS $ 4,722 $ 7,032 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable $ 9,936 $ 11,598 Accounts payable related to media rights 8,462 11,394 Accrued expenses and other current liabilities 5,570 5,571 Legal contingencies 5,829 3,978 Deferred revenues 5,121 1,558 Operating lease liabilities 281 462 Short term financial liabilities, net 15,555 13,528 Total current Liabilities 50,754 48,089 Non-current financial liabilities, net 1,357 1,842 Operating lease liabilities 585 861 Other non-current liabilities 14 42 TOTAL LIABILITIES 52,710 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; 92,214,637 and 8,856,230 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively. 211,628 210,339 Accumulated other comprehensive loss ( 1,550 ) ( 2,144 ) Accumulated deficit ( 258,066 ) ( 251,997 ) Total Stockholders' deficit ( 47,988 ) ( 43,802 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 4,722 7,032 The accompanying notes are an integral part of these condensed consolidated fina

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