Mobiquity Technologies, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Mobiquity Technologies, Inc. has filed its annual 10-K report for the fiscal year ended December 31, 2023, detailing its business operations and financial standing.</b>

AI Summary

Mobiquity Technologies, Inc. (MOBQW) filed a Annual Report (10-K) with the SEC on April 8, 2024. Mobiquity Technologies, Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business address is 35 Torrington Lane, Shoreham, NY 11786. Mobiquity Technologies, Inc. was formerly known as ACE MARKETING & PROMOTIONS INC. The company is classified under SERVICES-ADVERTISING (SIC code 7310).

Why It Matters

For investors and stakeholders tracking Mobiquity Technologies, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Mobiquity Technologies' financial performance and business activities for the entire 2023 fiscal year, crucial for investors assessing the company's health and future prospects. The report includes details on various preferred stock series (E, F, G, H, AAA), common stock, additional paid-in capital, treasury stock, and retained earnings, offering insights into the company's capital structure and historical profitability.

Risk Assessment

Risk Level: low — Mobiquity Technologies, Inc. shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate, significant financial disclosures or events that would indicate a high-risk profile based solely on this document's metadata.

Analyst Insight

Review the full 10-K filing for detailed financial statements, management discussion, and risk factors to understand Mobiquity Technologies' operational performance and strategic direction.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-04-08 — Filing Date (Filed as of date)
• 1999-04-14 — Name Change Date (Date of former company name change)

Key Players & Entities

• Mobiquity Technologies, Inc. (company) — Filer name
• ACE MARKETING & PROMOTIONS INC (company) — Former company name
• 35 Torrington Lane, Shoreham, NY 11786 (company) — Business address
• 7310 (other) — Standard Industrial Classification code

FAQ

Industry Context

Mobiquity Technologies operates within the Services-Advertising industry, indicated by its SIC code 7310.

Regulatory Implications

The filing is a Form 10-K, a mandatory annual report required by the U.S. Securities and Exchange Commission (SEC) for publicly traded companies.

What Investors Should Do

1. Analyze the detailed financial statements within the 10-K for revenue, net income, and balance sheet items.
2. Examine the 'Risk Factors' section of the 10-K to understand potential challenges and threats to the company's business.
3. Review the Management's Discussion and Analysis (MD&A) for insights into the company's performance, strategies, and outlook.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-04-08: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year 2023, following previous filings which would have covered prior periods.

Key Financial Figures

• $0.0001 — ction 12(g) of the Act: Common stock, $0.0001 par value, Common stock Purchase Warran
• $1.65 — rket value based on the last sale (i.e. $1.65 per share as of June 30, 2023) of the C
• $6,533,117 — 23, and 2022, we reported net losses of $6,533,117 and $8,062,328, respectively, and net c
• $8,062,328 — e reported net losses of $6,533,117 and $8,062,328, respectively, and net cash used in ope
• $4,362,868 — et cash used in operating activities of $4,362,868 and $6,187,383, respectively. As of Dec
• $6,187,383 — operating activities of $4,362,868 and $6,187,383, respectively. As of December 31, 2023,
• $217,040,339 — had an aggregate accumulated deficit of $217,040,339. Our operating losses for the past seve

Filing Documents

• mobq_i10k-123123.htm (10-K) — 1654KB
• mobq_ex0323.htm (EX-3.23) — 12KB
• mobq_ex0324.htm (EX-3.24) — 12KB
• mobq_ex3101.htm (EX-31.1) — 9KB
• mobq_ex3102.htm (EX-31.2) — 9KB
• mobq_ex3201.htm (EX-32.1) — 3KB
• mobq_ex3202.htm (EX-32.2) — 3KB
• mobq_ex9907.htm (EX-99.7) — 110KB
• image_001.jpg (GRAPHIC) — 169KB
• image_002.jpg (GRAPHIC) — 23KB
• image_003.jpg (GRAPHIC) — 136KB
• image_004.jpg (GRAPHIC) — 21KB
• image_005.jpg (GRAPHIC) — 5KB
• image_006.jpg (GRAPHIC) — 19KB
• image_007.jpg (GRAPHIC) — 327KB
• image_008.jpg (GRAPHIC) — 705KB
• image_009.jpg (GRAPHIC) — 557KB
• image_010.jpg (GRAPHIC) — 301KB
• image_011.jpg (GRAPHIC) — 308KB
• image_012.jpg (GRAPHIC) — 308KB
• image_013.jpg (GRAPHIC) — 335KB
• image_014.jpg (GRAPHIC) — 297KB
• image_015.jpg (GRAPHIC) — 292KB
• image_016.jpg (GRAPHIC) — 228KB
• image_017.jpg (GRAPHIC) — 107KB
• image_018.jpg (GRAPHIC) — 122KB
• image_019.jpg (GRAPHIC) — 327KB
• image_020.jpg (GRAPHIC) — 693KB
• image_021.jpg (GRAPHIC) — 558KB
• image_022.jpg (GRAPHIC) — 308KB
• image_023.jpg (GRAPHIC) — 310KB
• image_024.jpg (GRAPHIC) — 340KB
• image_025.jpg (GRAPHIC) — 331KB
• image_026.jpg (GRAPHIC) — 306KB
• image_027.jpg (GRAPHIC) — 306KB
• image_028.jpg (GRAPHIC) — 227KB
• image_029.jpg (GRAPHIC) — 108KB
• image_030.jpg (GRAPHIC) — 119KB
• image_032.jpg (GRAPHIC) — 3KB
• 0001683168-24-002214.txt (&nbsp;) — 18647KB
• mobq-20231231.xsd (EX-101.SCH) — 54KB
• mobq-20231231_cal.xml (EX-101.CAL) — 49KB
• mobq-20231231_def.xml (EX-101.DEF) — 261KB
• mobq-20231231_lab.xml (EX-101.LAB) — 428KB
• mobq-20231231_pre.xml (EX-101.PRE) — 374KB
• mobq_i10k-123123_htm.xml (XML) — 805KB

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS We believe this annual report contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties and are based on the beliefs and assumptions of our management, based on information currently available to our management. When we use words such as "believes," "expects," "anticipates," "intends," "plans," "estimates," "should," "likely" or similar expressions, we are making forward-looking "Business" and/or "Management's Discussion and Analysis of Financial Condition and Results of Operations." Forward-looking may differ materially from those expressed in the forward-looking statements. Many of the factors that will determine these results and values are beyond our ability to control or predict. Stockholders are cautioned not to put undue reliance on any forward-looking statements. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. For a discussion of some of the factors that may cause actual results to differ materially from those suggested by the forward-looking statements, please read carefully the information under "Risk Factors." In addition to the Risk Factors and other important factors discussed elsewhere in this annual report, you should understand that other risks and uncertainties and our public announcements and filings under the Securities Exchange Act of 1934, as amended could affect our future results and could cause results to differ materially from those suggested by the forward-looking statements. As used in this Form 10-K, the terms "we,

Risk Factors

Item 1A Risk Factors 9

Unresolved Staff Comments

Item 1B Unresolved Staff Comments 25

Cybersecuirty

Item 1C Cybersecuirty 25

Properties

Item 2 Properties 26

Legal Proceedings

Item 3 Legal Proceedings 26

Mine Safety Disclosures

Item 4 Mine Safety Disclosures 26 PART II 27

Market for Common Equity, related Stockholders Matters, and Issuer

Item 5 Market for Common Equity, related Stockholders Matters, and Issuer 27

Selected Financial Data

Item 6 Selected Financial Data 31

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7 Management's Discussion and Analysis of Financial Condition and Results of Operations 31

Qualitative and Qualitative Disclosures about Market Risk

Item 7A Qualitative and Qualitative Disclosures about Market Risk 42

Financial Statements

Item 8 Financial Statements 43

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 75

Controls and Procedures

Item 9A Controls and Procedures 77

Other Information

Item 9B Other Information 77 PART III 79

Directors, Executive Officers and Corporate Governance

Item 10 Directors, Executive Officers and Corporate Governance 79

Executive Compensation

Item 11 Executive Compensation 83

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 93

Certain Relationships and Related Transactions and Director Independence

Item 13 Certain Relationships and Related Transactions and Director Independence 94

Principal Accountant Fees and Services

Item 14 Principal Accountant Fees and Services 96 PART IV 98

Exhibits and Financial Statement Schedules

Item 15 Exhibits and Financial Statement Schedules 98 ii PART I

Business

Item 1. Business Company Background Mobiquity Technologies, Inc. is a next-generation advertising technology, data compliance and intelligence company which operates through our various proprietary software platforms. Our product solutions are comprised of three proprietary software platforms: Advertising Technology Operating System (ATOS Platform) Data Intelligence Platform Publisher Platform for Monetization and Compliance Our Products The ATOS Platform Our ATOS platform blends artificial intelligence (or AI) and machine learning (ML) based optimization technology for automatic ad serving that manages digital advertising inventory and campaigns. The ATOS platform: creates an automated marketplace of advertisers and publishers on digital media outlets to host online auctions to facilitate the sale of digital advertising (known as digital real estate) targeted at users while engaged on their internet-connected TV, laptop, tablet, desktop computer, mobile, and over-the-top (or OTT) streaming media devices; and gives advertisers the capability to understand and interact with their audiences and engage them in a meaningful way by using ads in both image and video formats (known as rich media) to increase their awareness, customer base and traffic to their e-commerce site, voting site or physical locations. ( Screenshot of ATOS Platform Campaign Management landing page. ) 1 Our ATOS platform engages with an average of approximately 10 billion advertisement opportunities per day, based on our daily logs. Our sales and marketing strategy for our ATOS platform is focused on providing a de-fragmented operating system that facilitates a considerably more efficient and effective way for advertisers and publishers to transact with each other. Our goal is to become the programmatic display advertising industry standard for brands directly and small and medium sized advertisers. Our ATOS technology is proprietary and primarily consists of know-how and tra

Risk Factors

Item 1A. Risk Factors An investment in our securities is highly speculative, involves a high degree of risk and should be made only by investors who can afford a complete loss. If any of the following risks actually occurs, then our business, financial condition or results of operations could be materially adversely affected, the trading of our common stock could decline, and you may lose all or part of your investment therein. In addition to the risks outlined below, risks and uncertainties not presently known to us or that we currently consider immaterial may also impair our business operations. Potential risks and uncertainties that could affect our operating results and financial condition include, without limitation, the following: Risks Relating to our Business Operations We have a history of operating losses, and our m anagement has concluded that factors raise substantial doubt about our ability to continue as a going concern and our auditor has included an explanatory paragraph relating to our ability to continue as a going concern in its audit report for the past several fiscal years. To date, we have not been profitable and have incurred significant losses and cash flow deficits. For the fiscal years ended December 31, 2023, and 2022, we reported net losses of $6,533,117 and $8,062,328, respectively, and net cash used in operating activities of $4,362,868 and $6,187,383, respectively. As of December 31, 2023, we had an aggregate accumulated deficit of $217,040,339. Our operating losses for the past several years are primarily attributable to the transformation of our company into an advertising technology corporation. We can provide no assurances that our operations will generate consistent or predictable revenue or be profitable in the foreseeable future. Our management has concluded that our historical recurring losses from operations and negative cash flows from operations as well as our dependence on private equity and other financings raise s

View Full Filing

View this 10-K filing on SEC EDGAR