Mobiquity Technologies Files Q3 2024 10-Q

TL;DR

Mobiquity Tech's Q3 10-Q is in - check financials for latest performance.

AI Summary

Mobiquity Technologies, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position, including its assets, liabilities, and equity. Specific financial figures and operational details for the third quarter and year-to-date periods are presented.

Why It Matters

This filing provides investors and stakeholders with an update on Mobiquity Technologies' financial health and operational progress during the third quarter of 2024.

Risk Assessment

Risk Level: medium — As a publicly traded company, Mobiquity Technologies is subject to market fluctuations and regulatory oversight, requiring regular financial disclosures like this 10-Q.

Key Numbers

• 20240930 — Reporting Period End Date (Indicates the financial period covered by the report.)
• 20241114 — Filing Date (Shows when the report was officially submitted to the SEC.)

Key Players & Entities

• Mobiquity Technologies, Inc. (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241114 (date) — Filing date
• NY (location) — State of incorporation and business address
• 113427886 (dollar_amount) — IRS Number

FAQ

Key Financial Figures

• $0.0001 — 1,662 400 Treasury stock, at cost, $0.0001 par value 2,517 and 2,500 shares outsta

Filing Documents

• mobiquity_i10q-093024.htm (10-Q) — 1284KB
• mobiquity_ex3101.htm (EX-31.1) — 7KB
• mobiquity_ex3102.htm (EX-31.2) — 7KB
• mobiquity_ex3201.htm (EX-32.1) — 3KB
• mobiquity_ex3202.htm (EX-32.2) — 3KB
• 0001683168-24-008107.txt ( ) — 6656KB
• mobq-20240930.xsd (EX-101.SCH) — 53KB
• mobq-20240930_cal.xml (EX-101.CAL) — 43KB
• mobq-20240930_def.xml (EX-101.DEF) — 252KB
• mobq-20240930_lab.xml (EX-101.LAB) — 414KB
• mobq-20240930_pre.xml (EX-101.PRE) — 355KB
• mobiquity_i10q-093024_htm.xml (XML) — 893KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 3

Consolidated Financial Statements

Item 1. Consolidated Financial Statements 3

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 33

Quantitative and Qualitative Disclosures

Item 3. Quantitative and Qualitative Disclosures 42

Controls and Procedures

Item 4. Controls and Procedures 43

OTHER INFORMATION

PART II. OTHER INFORMATION 44

Legal Proceedings

Item 1. Legal Proceedings 44 Item lA. Risk Factors 44

Changes in Securities

Item 2. Changes in Securities 44

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 46

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 46

Other Information

Item 5. Other Information 46

Exhibits

Item 6. Exhibits 47

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Mobiquity Technology, Inc. Consolidated Balance Sheets September 30, December 31, 2024 (Unaudited) 2023 Assets Current Assets Cash $ 189,810 $ 528,272 Accounts receivable 238,730 1,192,538 Less: Allowance for credit losses ( 94,066 ) ( 1,157,910 ) Accounts receivable, net 144,664 34,628 Prepaid and other current assets 563,034 149,635 Total Current Assets 897,508 712,535 Property and equipment, net 5,384 7,298 Goodwill 1,352,865 1,352,865 Intangible assets, net – 76,488 Capitalized software development costs, net 3,364,679 2,049,908 Total Assets $ 5,620,436 $ 4,199,094 Liabilities and Stockholders' Equity Current Liabilities Accounts payable and accrued expenses $ 2,308,203 $ 1,626,914 Accrued interest - related party 8,532 – Contract liabilities 77,110 195,135 Debt, current portion, net 1,102,073 168,717 Total Current Liabilities 3,495,918 1,990,766 Total Liabilities 3,495,918 1,990,766 Commitments and Contingencies (Note 8) – Stockholders' Equity AAA preferred stock; $ 0.0001 par value, 1,250,000 shares authorized, 31,413 shares issued and outstanding 3 3 Preferred stock Series E; $ 0.0001 par value, 70,000 shares authorized, 61,688 shares issued and outstanding 6 6 Preferred stock Series H; $ 0.0001 par value, 770,000 shares authorized, zero and 768,473 shares issued and outstanding – 78 Common stock; $ 0.0001 par value, 100,000,000 shares authorized, 16,609,356 and 3,994,926 shares issued, 16,606,839 and 3,992,426 shares outstanding 1,662 400 Treasury stock, at cost, $0.0001 par value 2,517 and 2,500 shares outstanding ( 1,350,006 ) ( 1,350,000 ) Additional paid-in capital 223,584,558 220,598,180 Accumulated deficit ( 220,111,705 ) ( 217,040,339 ) Total Stockholders' Equity 2,124,518 2,208,328 Total Liabilities and Stockholders' Equity $ 5,620,436 $ 4,199,094 The accompanying notes are an integral part of the

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS September 30, 2024 (UNAUDITED) NOTE 1 – ORGANIZATION AND NATURE OF OPERATIONS Mobiquity Technologies, Inc. and its operating subsidiaries ("Mobiquity," "we," "our" or "the Company"), are a next generation location data intelligence company. The Company provides precise unique, at-scale location data and insights on consumer's real-world behavior and trends for use in marketing and research. We provide one of the most accurate and scaled solutions for mobile data collection and analysis, utilizing multiple geo-location technologies. The Company is seeking to implement several new revenue streams from its data collection and analysis, including, but not limited to, Advertising, Data Licensing, Footfall Reporting, Attribution Reporting, Real Estate Planning, Financial Forecasting and Custom Research. We also are a developer of advertising and marketing technology focused on the creation, automation, and maintenance of an advertising technology operating system (or ATOS). The ATOS platform blends artificial intelligence (or AI) and machine learning (ML) based optimization technology for automatic ad serving that manages and runs digital advertising campaigns. Mobiquity Technologies, Inc. was incorporated in the State of New York and has the following subsidiaries: Schedule of subsidiaries Company Name New York Advangelists, LLC Delaware Mobiquity Networks, Inc. Mobiquity Networks, Inc. is a wholly owned subsidiary of Mobiquity Technologies, Inc., commencing operations in May 2018. Mobiquity Networks started and developed as a mobile advertising technology company focused on driving foot-traffic throughout its indoor network and has evolved and grown into a next generation data intelligence company. Mobiquity Networks, Inc. operates our data intelligence platform business. Advangelists, LLC Advangelists LLC is a wholly owned subsidiary of Mobiquity Tech

financial statements, for the nine months ended September 30, 2024, the Company had

financial statements, for the nine months ended September 30, 2024, the Company had: Net loss of $ 3,071,366 and Net cash used in operations was $ 1,798,860 Additionally, at September 30, 2024, the Company had: Accumulated deficit of $ 220,111,705 Stockholders' equity of $ 2,124,518 , and Working capital deficit of $ 2,598,410 . We manage liquidity risk by reviewing, on an ongoing basis, our sources of liquidity and capital requirements. The Company had cash on hand of $ 189,810 at September 30, 2024. The Company has incurred significant losses since its inception in 1998 and has not demonstrated an ability to generate sufficient revenues from the sales of its products and services to achieve profitable operations. There can be no assurance that profitable operations will ever be achieved, or if achieved, could be sustained on a continuing basis. In making this assessment we performed a comprehensive analysis of our current circumstances including: our financial position, our cash flows and cash usage forecasts for the year ended December 31, 2023, and the nine months ended September 30, 2024, and our current capital structure including equity-based instruments and our obligations and debts. Without sufficient revenue from operations, if the Company does not obtain additional capital, the Company will be required to reduce the scope of its business development activities or cease operations. These factors create substantial doubt about the Company's ability to continue as a going concern within one year after the date that these consolidated financial statements are issued, as the Company will need additional capital to meet its financial obligations. These consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. Accordingly, the consolidated financial statements have been prepared on the basis that assumes the Company will continue as a going concern and which c

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