Mobivity Holdings Corp. Files Q3 2024 10-Q
Ticker: MFON · Form: 10-Q · Filed: Nov 26, 2024 · CIK: 1447380
Sentiment: neutral
Topics: 10-Q, financials, software
TL;DR
Mobivity Holdings Corp. (MFON) filed its Q3 2024 10-Q. Check financials.
AI Summary
Mobivity Holdings Corp. filed its 10-Q for the period ending September 30, 2024. The company, previously known as Ares Ventures Corp. and Commercetel Corp., is incorporated in Nevada and operates in the prepackaged software industry. Their business address is in Chandler, Arizona.
Why It Matters
This filing provides investors with the latest financial performance and operational updates for Mobivity Holdings Corp. during the third quarter of 2024.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.
Key Numbers
- 20240930 — Period End Date (Latest financial reporting period)
- 20241126 — Filing Date (Date the report was submitted to the SEC)
Key Players & Entities
- MOBIVITY HOLDINGS CORP. (company) — Filer
- ARES VENTURES CORP. (company) — Former Company Name
- COMMERCETEL CORP (company) — Former Company Name
- CHANDLER, AZ (location) — Business Address City and State
- 20240930 (date) — Period of Report
FAQ
What is the primary business of Mobivity Holdings Corp.?
Mobivity Holdings Corp. operates in the SERVICES-PREPACKAGED SOFTWARE industry, SIC code 7372.
When was Mobivity Holdings Corp. previously known by other names?
The company was formerly known as Commercetel Corp. (name change date 20101007) and Ares Ventures Corp. (name change date 20081008).
What is the fiscal year end for Mobivity Holdings Corp.?
The fiscal year end for Mobivity Holdings Corp. is December 31st.
Where is Mobivity Holdings Corp. located?
The company's business and mailing address is 3133 West Frye Road, Suite 215, Chandler, AZ 85226.
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending September 30, 2024.
Filing Stats: 4,408 words · 18 min read · ~15 pages · Grade level 17.3 · Accepted 2024-11-26 11:51:15
Filing Documents
- form10-q.htm (10-Q) — 1137KB
- ex2-1.htm (EX-2.1) — 116KB
- ex10-1.htm (EX-10.1) — 32KB
- ex31-1.htm (EX-31.1) — 13KB
- ex31-2.htm (EX-31.2) — 12KB
- ex32-1.htm (EX-32.1) — 8KB
- 0001493152-24-047764.txt ( ) — 7083KB
- mfon-20240930.xsd (EX-101.SCH) — 46KB
- mfon-20240930_cal.xml (EX-101.CAL) — 79KB
- mfon-20240930_def.xml (EX-101.DEF) — 240KB
- mfon-20240930_lab.xml (EX-101.LAB) — 473KB
- mfon-20240930_pre.xml (EX-101.PRE) — 383KB
- form10-q_htm.xml (XML) — 1077KB
– 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. 25
Controls and Procedures
Item 4. Controls and Procedures. 25
– OTHER INFORMATION
PART II – OTHER INFORMATION 26
Legal Proceedings
Item 1. Legal Proceedings 26
Risk Factors
Item 1A. Risk Factors 26
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 26
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 26
Other Information
Item 5. Other Information 26
Exhibits
Item 6. Exhibits 27
SIGNATURES
SIGNATURES 28 Table of Contents PART I – FINANCIAL INFORMATION Item 1. Financial Statements Mobivity Holdings Corp. Condensed Consolidated Balance Sheets September 30, December 31, 2024 2023 (Unaudited) (Audited) ASSETS Current assets Cash $ 532,450 $ 416,395 Accounts receivable, net of allowance for doubtful accounts $ 35,909 and $ 16,107 , respectively 116,748 29,904 Current assets from discontinued operations 450,517 846,561 Other current assets 267,849 135,916 Total current assets 1,367,564 1,428,776 Right to use lease assets 600,624 770,623 Intangible assets and software development costs, net 57,589 65,916 Other assets 42,349 69,036 TOTAL ASSETS $ 2,068,126 $ 2,334,351 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities Accounts payable $ 586,155 $ 115,053 Liabilities from discontinued operations 2,261,892 3,257,088 Accrued interest 329,742 21,474 Accrued and deferred personnel compensation 288,064 272,247 Deferred revenue and customer deposits 20,684 155,472 Related party notes payable, net - current maturities 3,840,625 3,072,500 Notes payable, net - current maturities — 7,154 Operating lease liability, current 295,486 276,072 Other current liabilities 468,125 248,434 Total current liabilities 8,090,773 7,425,494 Non-current liabilities Related party notes payable, net - long term 8,000,858 4,413,987 Notes payable, net - long term 224,836 265,959 Operating lease liability 436,278 660,852 Total non-current liabilities 8,661,972 5,340,798 Total liabilities 16,752,745 12,766,292 Stockholders' deficit Common stock, $ 0.001 par value; 100,000,000 shares authorized; 70,466,103 and 67,949,709 , shares issued and outstanding 70,464 67,950 Equity payable 336,420 989,947 Additional paid-in capital 122,035,163 118,624,601 Accumulated other comprehensive loss 62,856 ( 153,831 ) Accumulated deficit ( 137,189,522 ) (