Metalert, Inc. Files Q1 2024 10-Q
Ticker: MLRT · Form: 10-Q · Filed: Jun 26, 2024 · CIK: 1375793
| Field | Detail |
|---|---|
| Company | Metalert, Inc. (MLRT) |
| Form Type | 10-Q |
| Filed Date | Jun 26, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.0001 M |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, company-information
TL;DR
Metalert Inc. (formerly GTX Corp) filed its Q1 2024 10-Q. NV incorporated.
AI Summary
Metalert, Inc. filed its quarterly report for the period ending March 31, 2024. The company, formerly known as GTX Corp and DEEAS RESOURCES INC., is incorporated in Nevada and operates in the radio & TV broadcasting & communications equipment sector. Its principal business address is in Los Angeles, California.
Why It Matters
This filing provides investors with an update on Metalert, Inc.'s financial performance and operational status for the first quarter of 2024.
Risk Assessment
Risk Level: low — This is a routine quarterly filing with no immediately apparent significant financial or operational red flags.
Key Players & Entities
- Metalert, Inc. (company) — Filer
- GTX Corp (company) — Former company name
- DEEAS RESOURCES INC. (company) — Former company name
- 20240331 (date) — Reporting period end date
- 20240626 (date) — Filing date
- NV (jurisdiction) — State of incorporation
- Los Angeles, CA (location) — Business address
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240331, indicating the filing covers the first quarter of 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on 20240626.
What were Metalert, Inc.'s former company names?
Metalert, Inc. was formerly known as GTX Corp and DEEAS RESOURCES INC.
In which state is Metalert, Inc. incorporated?
Metalert, Inc. is incorporated in Nevada (NV).
What is Metalert, Inc.'s business address?
Metalert, Inc.'s business address is 117 WEST 9TH STREET, SUITE 1214, LOS ANGELES, CA 90015.
Filing Stats: 4,510 words · 18 min read · ~15 pages · Grade level 16.4 · Accepted 2024-06-26 15:30:34
Key Financial Figures
- $0.0001 M — h registered: Common Stock, Par Value $0.0001 MLRT None Indicate by check mark if t
Filing Documents
- form10-q.htm (10-Q) — 902KB
- ex31-1.htm (EX-31.1) — 12KB
- ex31-2.htm (EX-31.2) — 12KB
- ex32-1.htm (EX-32.1) — 4KB
- ex32-2.htm (EX-32.2) — 6KB
- 0001493152-24-025250.txt ( ) — 5264KB
- mlrt-20240331.xsd (EX-101.SCH) — 45KB
- mlrt-20240331_cal.xml (EX-101.CAL) — 54KB
- mlrt-20240331_def.xml (EX-101.DEF) — 228KB
- mlrt-20240331_lab.xml (EX-101.LAB) — 347KB
- mlrt-20240331_pre.xml (EX-101.PRE) — 289KB
- form10-q_htm.xml (XML) — 719KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION Item 1. Condensed Financial Statements 3 Condensed Consolidated Balance Sheets at March 31, 2024 (unaudited) and December 31, 2023 (unaudited) 3 Condensed Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Changes in Stockholders' Deficit for the three months ended March 31, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 (unaudited) 6 Notes to Condensed Consolidated Financial Statements (unaudited) 7 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 25 Item 4.
Controls and Procedures
Controls and Procedures 25
OTHER INFORMATION
PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 26 Item 1A.
Risk Factors
Risk Factors 26 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26 Item 3. Defaults Upon Senior Securities 26 Item 4. Mine Safety Disclosures 26 Item 5. Other Information 26 Item 6. Exhibits 27
Signatures
Signatures 28 2 PART I ITEM 1. FINANCIAL STATEMENTS METALERT INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS March 31, 2024 December 31, 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 86,095 $ 68,440 Accounts receivable, net 25,040 17,408 Inventory 236,639 231,818 Investment in marketable securities 649 649 Other current assets 4,282 4,339 Total current assets 352,705 322,654 Property and equipment, net 20,445 25,780 Intangible assets, net 248,142 261,761 Total assets $ 621,292 $ 610,195 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable $ 221,109 $ 264,671 Accrued expenses 135,074 327,338 Accrued expenses, related parties 1,019,720 762,365 Deferred revenues 7,699 6,505 Short-term debt – line of credit 98,064 102,040 Short-term debt - CARE loans 14,236 12,972 Convertible promissory notes, net of discount 1,473,500 1,484,142 Convertible notes, related parties, net of discount 1,226,426 1,219,313 Notes payable 146,195 146,195 Notes payable – related parties 46,500 46,500 Total current liabilities 4,388,523 4,372,041 Long-term debt - CARE loan 135,764 137,028 Total liabilities 4,524,287 4,509,069 Commitments and contingencies - - Stockholders' deficit: Preferred stock series A, $ 0.001 par value; 1,000,000 shares authorized; 13,846 shares issued and outstanding at March 31, 2024 and December 31, 2023 14 14 Preferred stock series B, $ 0.001 par value; 10,000 shares authorized, 3 and 3 issued and outstanding at March 31, 2024 and December 31, 2023, respectively - - Preferred stock series C, $ 0.001 par value; 1,000 shares authorized, 6 and 6 issued and outstanding at March 31, 2024 and December 31, 2023, respectively - - Preferred stock series D, $ 0.001 par value; 100,000 shares authorized, 75,000 and 15,000 issued and outstanding at March 31, 2024 and December 31, 2023, respectively