OneMeta Inc. Files Q2 2024 10-Q

TL;DR

**OneMeta Inc. (ONEI) dropped its Q2 10-Q. Check financials vs. last year.**

AI Summary

OneMeta Inc. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as WebSafety, Inc., is incorporated in Nevada and operates in computer processing and data preparation. The filing details financial information for the second quarter and the first half of the year, comparing it to the same periods in 2023.

Why It Matters

This filing provides investors with the latest financial performance and position of OneMeta Inc., crucial for understanding the company's operational health and future prospects.

Risk Assessment

Risk Level: medium — As a publicly traded company filing a 10-Q, there are inherent risks associated with financial reporting and market performance.

Key Numbers

• 2024-06-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 2024-08-13 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 2024-01-01 to 2024-06-30 — Year-to-Date Period (Covers the first six months of the fiscal year 2024.)
• 2023-01-01 to 2023-06-30 — Prior Year-to-Date Period (Covers the first six months of the fiscal year 2023 for comparison.)
• 2024-04-01 to 2024-06-30 — Q2 2024 Period (Specific data for the second fiscal quarter of 2024.)

Key Players & Entities

• OneMeta Inc. (company) — Filer of the 10-Q
• WebSafety, Inc. (company) — Former name of OneMeta Inc.
• 20240630 (date) — End of reporting period
• 20240813 (date) — Filing date
• 949-642-7816 (phone_number) — Business phone number

FAQ

Key Financial Figures

• $0.001 — alue 33,664,960 Series A Preferred, $0.001 par value 2,068 Series B-1 Preferre
• $500,000 — 2024, (ii) the closing of a minimum of $500,000 in a subsequent financing of either deb
• $1,000,000 — inimum proceeds of one million dollars ($1,000,000) is received by the Company; and /or (i
• $10,000 — purchase money financing) in excess of $10,000, or there occurs any event of default o

Filing Documents

• form10-q.htm (10-Q) — 611KB
• ex31-1.htm (EX-31.1) — 18KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 9KB
• ex32-2.htm (EX-32.2) — 9KB
• 0001493152-24-031498.txt ( ) — 3196KB
• onei-20240630.xsd (EX-101.SCH) — 20KB
• onei-20240630_cal.xml (EX-101.CAL) — 26KB
• onei-20240630_def.xml (EX-101.DEF) — 109KB
• onei-20240630_lab.xml (EX-101.LAB) — 264KB
• onei-20240630_pre.xml (EX-101.PRE) — 197KB
• form10-q_htm.xml (XML) — 350KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Balance Sheets 3 4 5 6

Notes to Financial Statements (Unaudited)

Notes to 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 13 Item 4.

Controls and Procedures

Controls and Procedures 18 PART II. OTHER INFORMATION 19 Item 1.

Legal Proceedings

Legal Proceedings 19 Item 1A.

Risk Factors

Risk Factors 19 Item 6. Exhibits 20

SIGNATURES

SIGNATURES 21 2 PART I - FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS ONEMETA INC. BALANCE SHEETS (Unaudited) June 30, 2024 December 31, 2023 ASSETS Current assets: Cash $ 323,330 $ 1,129,935 Accounts receivable 6,160 6,935 Prepaid and other current assets 9,740 6,820 Total current assets 339,230 1,143,690 Total assets $ 339,230 $ 1,143,690 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Accounts payable $ 476,260 $ 522,917 Accrued expenses 32,589 - Accrued expenses, related party 352,351 281,012 Accrued expenses 352,351 281,012 Deferred revenue 19,500 - Note payable, related party 221,990 221,990 Senior secured notes payable, related party 441,000 - Total current liabilities 1,543,690 1,025,919 Total liabilities 1,543,690 1,025,919 STOCKHOLDERS' EQUITY (DEFICIT) Preferred stock, $ 0.001 par value, 50,000,000 shares authorized, Series A preferred stock, $ 0.001 par value, 2,068 shares authorized and 2,068 issued and outstanding 2 2 Series B-1 convertible preferred stock, $ 0.001 par value, 8,619,420 shares authorized and 8,619,420 shares issued and outstanding 862 862 Preferred stock, value 862 862 Common stock, $ 0.001 par value, 500,000,000 shares authorized, 33,664,960 and 32,995,460 shares issued and outstanding, respectively 33,665 32,996 Additional paid in capital 34,677,417 33,992,707 Accumulated deficit ( 35,916,406 ) ( 33,908,796 ) Total stockholders' equity (deficit) ( 1,204,460 ) 117,771 Total liabilities and stockholders' equity (deficit) $ 339,230 $ 1,143,690 See accompanying notes to the unaudited financial statements. 3 ONEMETA INC. OF OPERATIONS (Unaudited) Three months ended Three months ended Six months ended Six months ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Revenue $ 5,489 $ 44,802 $ 10,876 $ 47,962 Total revenue 5,489 44,802 10,876 47,962

View Full Filing

View this 10-Q filing on SEC EDGAR