micromobility.com Inc. Files Q3 2024 10-Q

TL;DR

MCOM 10-Q filed for Q3 2024. Financials and operations update.

AI Summary

micromobility.com Inc. filed its 10-Q for the period ending September 30, 2024. The company, formerly known as Helbiz, Inc., reported its financial performance for the third quarter of 2024. The filing details its business operations and financial condition, including its former name changes from GreenVision Acquisition Corp. and Helbiz, Inc.

Why It Matters

This filing provides investors and stakeholders with an update on micromobility.com Inc.'s financial health and operational performance for the third quarter of 2024, crucial for understanding the company's current standing.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that could reveal significant risks or opportunities for the company.

Key Players & Entities

• micromobility.com Inc. (company) — Filer of the 10-Q
• Helbiz, Inc. (company) — Former name of micromobility.com Inc.
• GreenVision Acquisition Corp. (company) — Previous former name of micromobility.com Inc.
• 2024-09-30 (date) — End of the reporting period
• 2024-11-19 (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.

Filing Documents

• mcom_10q-093024.htm (10-Q) — 1230KB
• ex31x1.htm (EX-31.1) — 10KB
• ex31x2.htm (EX-31.2) — 10KB
• ex32x1.htm (EX-32.1) — 4KB
• ex32x2.htm (EX-32.2) — 4KB
• 0001079973-24-001584.txt ( ) — 6176KB
• mcom-20240930.xsd (EX-101.SCH) — 64KB
• mcom-20240930_cal.xml (EX-101.CAL) — 65KB
• mcom-20240930_def.xml (EX-101.DEF) — 168KB
• mcom-20240930_lab.xml (EX-101.LAB) — 410KB
• mcom-20240930_pre.xml (EX-101.PRE) — 334KB
• mcom_10q-093024_htm.xml (XML) — 947KB

Financial Information

Part I. Financial Information 2

Unaudited Financial Statements

Item 1. Unaudited Financial Statements 2 Condensed Consolidated Balance Sheets as of September 30, 2024 (Unaudited) and December 31, 2023 2 Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and nine months ended September 30, 2024 and 2023 (unaudited) 3 Condensed Consolidated Statements Changes in Convertible Preferred Stock and Stockholders' Deficit for the three and nine months ended September 30, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 (unaudited) 6 Notes to Unaudited Condensed Consolidated Financial Statements 7

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 20

Quantitative and Qualitative Disclosures Regarding Market Risk

Item 3. Quantitative and Qualitative Disclosures Regarding Market Risk 31

Controls and Procedures

Item 4. Controls and Procedures 31

Other Information

Part II. Other Information 31

Legal Proceedings

Item 1. Legal Proceedings 31

Risk Factors

Item 1A. Risk Factors 32

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 32

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 32

Other Information

Item 5. Other Information 32

Exhibits

Item 6. Exhibits 33

Signatures

Part III. Signatures 34 1 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) September 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 141 $ 117 Accounts receivables 592 676 Accounts receivables - Related Party 134 — VAT receivables — 928 Prepaid and other current assets 793 1,169 Current assets of discontinued operations 78 139 Total current assets 1,738 3,028 Property, equipment and deposits, net 348 955 Right of use assets 170 529 Other assets 242 211 Non-current assets of discontinued operations 66 2,309 TOTAL ASSETS $ 2,564 $ 7,032 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable $ 4,584 $ 7,037 Accounts payable related to media rights 7,665 11,394 Accrued expenses and other current liabilities 3,886 3,823 Legal contingencies 4,290 2,267 Deferred revenues 810 793 Deferred revenues – Related Party 5,633 — Short term financial liabilities, net 15,926 13,075 Current liabilities of discontinued operations 2,251 9,700 Total current Liabilities 45,045 48,089 Non-current financial liabilities, net 1,047 1,709 Operating lease liabilities 146 355 Other non-current liabilities 10 42 Non-current liabilities of discontinued operations — 639 TOTAL LIABILITIES 46,248 50,834 Commitments and contingencies Note 10 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 September 30, 2024 and December 31, 2023, respectively. 211,695 210,339 Accumulated other comprehensive loss ( 2,287 ) ( 2,144 ) Accumulated deficit ( 253,092 ) ( 251,997 ) Total Stockholders' deficit (

View Full Filing

View this 10-Q filing on SEC EDGAR