Mobivity Holdings Corp. Files Q2 2024 10-Q
Ticker: MFON · Form: 10-Q · Filed: Aug 19, 2024 · CIK: 1447380
Sentiment: neutral
Topics: 10-Q, financials, software
TL;DR
Mobivity Holdings Corp. dropped its Q2 2024 10-Q, showing updated financials.
AI Summary
Mobivity Holdings Corp. filed its 10-Q for the period ending June 30, 2024, reporting financial results. The company, formerly Ares Ventures Corp. and Commercetel Corp., is incorporated in Nevada and operates in the prepackaged software industry. Key financial data and balance sheet information as of June 30, 2024, and December 31, 2023, were included in the filing.
Why It Matters
This filing provides investors with an update on Mobivity Holdings Corp.'s financial performance and position for the second quarter of 2024, crucial for understanding the company's operational health and future prospects.
Risk Assessment
Risk Level: medium — As a 10-Q filing, it contains detailed financial information that requires careful analysis to assess the company's financial health and associated risks.
Key Numbers
- 2024-06-30 — Reporting Period End (Financial data pertains to this date.)
- 2023-12-31 — Prior Year End (Comparative financial data is provided.)
Key Players & Entities
- MOBIVITY HOLDINGS CORP. (company) — Filer
- 20240630 (date) — Reporting Period End Date
- 20240819 (date) — Filing Date
- CHANDLER (location) — Business Address City
- NV (location) — State of Incorporation
- COMMERCETEL CORP (company) — Former Company Name
- ARES VENTURES CORP. (company) — Former Company Name
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended June 30, 2024.
What is the company's primary business classification?
The company's Standard Industrial Classification is 'SERVICES-PREPACKAGED SOFTWARE [7372]'.
When was Mobivity Holdings Corp. incorporated?
Mobivity Holdings Corp. was incorporated in Nevada (NV).
What were some of the company's former names?
The company was formerly known as Commercetel Corp. and Ares Ventures Corp.
What is the company's business address?
The company's business address is 3133 West Frye Road, Suite 215, Chandler, AZ 85226.
Filing Stats: 4,443 words · 18 min read · ~15 pages · Grade level 15.6 · Accepted 2024-08-19 16:38:48
Filing Documents
- form10-q.htm (10-Q) — 918KB
- ex10-3.htm (EX-10.3) — 31KB
- ex31-1.htm (EX-31.1) — 8KB
- ex31-2.htm (EX-31.2) — 8KB
- ex32-1.htm (EX-32.1) — 5KB
- 0001493152-24-033094.txt ( ) — 5832KB
- mfon-20240630.xsd (EX-101.SCH) — 40KB
- mfon-20240630_cal.xml (EX-101.CAL) — 63KB
- mfon-20240630_def.xml (EX-101.DEF) — 221KB
- mfon-20240630_lab.xml (EX-101.LAB) — 416KB
- mfon-20240630_pre.xml (EX-101.PRE) — 345KB
- form10-q_htm.xml (XML) — 810KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION 1
Financial Statements
Item 1. Financial Statements 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations and Comprehensive Loss 2 Condensed Consolidated Statement of Stockholders' Deficit 3 Condensed Consolidated Statements of Cash Flows 4 Notes to Condensed Consolidated Financial Statements 5
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 19
Quantitative and Qualitative Disclosures about Market Risk
Item 3. Quantitative and Qualitative Disclosures about Market Risk. 22
Controls and Procedures
Item 4. Controls and Procedures. 22
– OTHER INFORMATION
PART II – OTHER INFORMATION 23
Legal Proceedings
Item 1. Legal Proceedings 23
Risk Factors
Item 1A. Risk Factors 23
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 23
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 23
Other Information
Item 5. Other Information 23
Exhibits
Item 6. Exhibits 23
SIGNATURES
SIGNATURES 24 Table of Contents PART I – FINANCIAL INFORMATION Item 1. Financial Statements Mobivity Holdings Corp. Condensed Consolidated Balance Sheets June 30, December 31, 2024 2023 (Unaudited) (Audited) ASSETS Current assets Cash $ 282,828 $ 416,395 Accounts receivable, net of allowance for doubtful accounts $ 85,215 and $ 16,107 , respectively 832,842 876,465 Other current assets 268,248 135,916 Total current assets 1,383,918 1,428,776 Right to use lease assets 658,447 770,623 Intangible assets and software development costs, net 61,168 65,916 Other assets 54,725 69,036 TOTAL ASSETS $ 2,158,258 $ 2,334,351 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities Accounts payable $ 2,879,525 $ 3,372,141 Accrued interest 195,196 21,474 Accrued and deferred personnel compensation 222,372 272,247 Deferred revenue and customer deposits 87,139 155,472 Related party notes payable, net - current maturities 3,072,500 3,072,500 Notes payable, net - current maturities — 7,154 Operating lease liability, current 288,905 276,072 Other current liabilities 68,101 248,434 Total current liabilities 6,813,738 7,425,494 Non-current liabilities Related party notes payable, net - long term 7,638,676 4,413,987 Notes payable, net - long term 221,877 265,959 Operating lease liability 512,587 660,852 Total non-current liabilities 8,373,140 5,340,798 Total liabilities 15,186,878 12,766,292 Stockholders' deficit Common stock, $ 0.001 par value; 100,000,000 shares authorized; 67,949,709 and 65,797,567 , shares issued and outstanding 67,950 67,950 Equity payable 1,455,943 989,947 Additional paid-in capital 120,116,959 118,624,601 Accumulated other comprehensive loss 61,498 ( 153,831 ) Accumulated deficit ( 134,730,970 ) ( 129,960,608 ) Total stockholders' deficit ( 13,028,620 ) ( 10,431,941 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 2,158,