Recruiter.com Group, Inc. files Amendment No. 1 to Form 10-Q for Q1 2024

TL;DR

<b>Recruiter.com Group, Inc. amends its Q1 2024 10-Q filing, providing updated details on its operations and corporate events.</b>

AI Summary

Recruiter.com Group, Inc. (NIXXW) filed a Amended Quarterly Report (10-Q/A) with the SEC on May 16, 2024. This filing is an Amendment No. 1 to the Form 10-Q for the quarter ended March 31, 2024. The company operates an On Demand recruiting platform, targeting the $28.5 billion employment and recruiting agencies industry. The filing includes numerous dates related to stock options, warrants, and preferred stock events. Specific dates for board of directors and other committee meetings are noted. The company was formerly known as TRULI TECHNOLOGIES, INC., Truli Media Group, Inc., and SA Recovery Corp.

Why It Matters

For investors and stakeholders tracking Recruiter.com Group, Inc., this filing contains several important signals. This amendment suggests that the original filing may have contained errors or omissions that required correction, potentially impacting the accuracy of previously reported information. The detailed listing of various corporate events and financial instruments indicates ongoing activity and potential complexities in the company's financial structure and governance.

Risk Assessment

Risk Level: medium — Recruiter.com Group, Inc. shows moderate risk based on this filing. The company has a history of name changes and operates in a competitive industry, suggesting potential volatility and execution risks.

Analyst Insight

Review the specific corrections made in this amendment to understand any material changes to the company's financial or operational status.

Key Numbers

• 20240331 — Quarter End Date (Conformed period of report)
• 20240516 — Filing Date (Filed as of date)
• $28.5 billion — Industry Market Size (Employment and recruiting agencies industry)

Key Players & Entities

• Recruiter.com Group, Inc. (company) — Filer name
• 0001462223 (company) — Central Index Key
• 7371 (company) — Standard Industrial Classification code
• NV (company) — State of Incorporation
• 20240331 (date) — Conformed period of report
• 20240516 (date) — Filed as of date
• $28.5 billion (dollar_amount) — Industry size
• TRULI TECHNOLOGIES, INC. (company) — Former company name

FAQ

Industry Context

The company operates in the employment and recruiting agencies industry, which is a significant market.

Regulatory Implications

The filing is made with the Securities and Exchange Commission (SEC) under the 1934 Act.

What Investors Should Do

1. Review the specific changes and additions made in Amendment No. 1 to the Form 10-Q.
2. Analyze the company's business model as an On Demand recruiting platform.
3. Investigate the significance of the various dates related to stock options, warrants, and preferred stock.

Key Dates

• 2024-03-31: Quarter End Date — Period reported in the 10-Q/A filing
• 2024-05-15: Original 10-Q Filing Date — Date the initial report was filed
• 2024-05-16: Amendment Filing Date — Date this amendment was filed

Year-Over-Year Comparison

This is an amendment to a previously filed 10-Q, indicating updates or corrections to the original report.

Key Financial Figures

• $0.01 — ck (the "Warrant") for a price equal to $0.01 per share (the "Exercise Price"). The W
• $5.00 — k of the Company has closed at or above $5.00 for ten consecutive trading days. Furth
• $480,358 — e) . These GOLQ Warrants were valued at $480,358 and together with the common shares iss
• $150,000 — On April 9, 2024, the Company received $150,000 as the second part of the nonrefundable

Filing Documents

• rcrt_10qa.htm (10-Q/A) — 1034KB
• rcrt_ex311.htm (EX-31.1) — 13KB
• rcrt_ex312.htm (EX-31.2) — 13KB
• rcrt_ex321.htm (EX-32.1) — 4KB
• crt_ex322.htm (EX-32.2) — 4KB
• 0001654954-24-006538.txt (&nbsp;) — 5992KB
• rcrt-20240331.xsd (EX-101.SCH) — 77KB
• rcrt-20240331_lab.xml (EX-101.LAB) — 390KB
• rcrt-20240331_cal.xml (EX-101.CAL) — 52KB
• rcrt-20240331_pre.xml (EX-101.PRE) — 330KB
• rcrt-20240331_def.xml (EX-101.DEF) — 219KB
• rcrt_10qa_htm.xml (XML) — 894KB

- Financial Information

Part I - Financial Information Item 1. Condensed Consolidated Financial Statements 3 Condensed Consolidated Balance Sheets as of March 31, 2024 (unaudited) and December 31, 2023 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' Equity 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 Unaudited Condensed Consolidated Financial Statements 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 31 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 40 Item 4.

Controls and Procedures

Controls and Procedures 40

- Other Information

Part II - Other Information Item 1.

Legal Proceedings

Legal Proceedings 42 Item 1A.

Risk Factors

Risk Factors 43 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 43 Item 3. Defaults Upon Senior Securities 43 Item 4. Mine Safety Disclosures 43 Item 5. Other Information 43 Item 6. Exhibits 44 2 Table of Contents

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Recruiter.com Group, Inc. and Subsidiaries Condensed Consolidated Balance Sheets March 31, December 31, 2024 2023 ASSETS (Unaudited) Current assets: Cash $ 309,610 $ 1,008,408 Accounts receivable, net of allowance for doubtful accounts of $ 948,388 and $ 1,051,411 , respectively 62,501 405,786 Prepaid expenses and other current assets 222,153 252,099 Investment in marketable securities 273,632 382,144 Total current assets 867,896 2,048,437 Property and equipment, net of accumulated depreciation of $ 45,034 and $ 38,776 , respectively 30,053 36,311 Intangible assets, net 2,114,337 1,301,337 Goodwill 7,101,084 7,101,084 Total assets $ 10,113,370 $ 10,487,169 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,238,237 $ 1,696,022 Accrued expenses 782,429 770,625 Accrued compensation 110,113 154,764 Accrued interest 311,125 280,597 Deferred payroll taxes - 2,484 Other liabilities 42,685 82,188 Loans payable - current portion, net of discount 3,813,437 5,631,633 Warrant liability 439,904 504,000 Refundable deposit on preferred stock purchase 285,000 285,000 Deferred revenue 122,489 149,848 Total current liabilities 7,145,419 9,557,161 Total liabilities 7,145,419 9,557,161 Commitments and contingencies (Note 10) Stockholders' Equity: Preferred Stock, 10,000,000 authorized, $ 0.0001 par value - - Preferred stock, Series D, $ 0.0001 par value; 2,000,000 shares authorized; no shares issued and outstanding as of March 31, 2024, and December 31, 2023 - - Preferred stock, Series E, $ 0.0001 par value; 775,000 shares authorized; 0 and 86,000 shares issued and outstanding as of March 31, 2024, and December 31, 2023 - 9 Preferred stock, Series F, 0.0001 par value; 200,000 shares authorized; no shares issued and outstanding as of March 31, 2024, and December 31, 2023 - - Common stoc

View Full Filing

View this 10-Q/A filing on SEC EDGAR