PAID, Inc. Files Q3 2024 10-Q Report

TL;DR

PAID, Inc. Q3 2024 10-Q filed. Check financials.

AI Summary

PAID, Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers the first nine months of 2024 and the third quarter. Key financial data and operational details for this period are presented, reflecting the company's performance and financial position.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for PAID, Inc., crucial for understanding the company's trajectory and making informed investment decisions.

Risk Assessment

Risk Level: low — This is a standard quarterly filing providing financial information and does not inherently indicate new or elevated risks.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter and nine-month period covered by the report.)
• 2024-11-14 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• PAID, Inc. (company) — Filer of the 10-Q report
• 2024-09-30 (date) — End of the reporting period
• 2024-11-14 (date) — Filing date of the report

FAQ

Key Financial Figures

• $0.001 — ection 12(g) of the Act: Common Stock, $0.001 Par Value Indicate by check mark whet

Filing Documents

• payd20240930_10q.htm (10-Q) — 965KB
• ex_744288.htm (EX-31.1) — 10KB
• ex_744287.htm (EX-32) — 5KB
• payd20240930_10qimg001.jpg (GRAPHIC) — 5KB
• 0001437749-24-035336.txt ( ) — 4850KB
• payd-20240930.xsd (EX-101.SCH) — 39KB
• payd-20240930_def.xml (EX-101.DEF) — 257KB
• payd-20240930_lab.xml (EX-101.LAB) — 262KB
• payd-20240930_pre.xml (EX-101.PRE) — 282KB
• payd-20240930_cal.xml (EX-101.CAL) — 39KB
• payd20240930_10q_htm.xml (XML) — 758KB

– Financial Information

Part I – Financial Information Item 1.

Financial Statements

Financial Statements Unaudited Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the three and nine months ended September 30, 2024 and 2023 4 Unaudited Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Changes in Shareholders' Equity for the three and nine months ended September 30, 2024 and 2023 6 Notes to Unaudited Condensed Consolidated Financial Statements 8-16 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 17 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 20 Item 4.

Controls and Procedures

Controls and Procedures 20

– Other Information

Part II – Other Information Item 1.

Legal Proceedings

Legal Proceedings 20 Item 1A.

Risk Factors

Risk Factors 21 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 21 Item 3. Defaults Upon Senior Securities 21 Item 4. Mine Safety Disclosures 21 Item 5. Other Information 21 Item 6. Exhibits 21

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS PAID, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) September 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 1,089,520 $ 2,052,421 Accounts receivable, net 209,976 205,647 Note receivable, net of discount 4,193,607 2,453,425 Prepaid expenses and other current assets 330,054 134,110 Total current assets 5,823,157 4,845,603 Property and equipment, net 7,631 10,678 Intangible assets, net 2,155,579 2,422,590 Operating lease right-of-use assets, net 130,481 14,161 Note receivable, long term 261,918 - Total assets $ 8,378,766 $ 7,293,032 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,220,768 $ 1,482,498 Accrued expenses 507,235 420,611 Contract liabilities 260,546 15,382 Operating lease obligations 31,428 14,162 Total current liabilities 2,019,977 1,932,653 Long-term liabilities: Deferred tax liability, net 605,995 622,568 Uncertain tax position liability 278,704 278,704 Operating lease obligation – net of current portion 99,078 - Total liabilities 3,003,754 2,833,925 Commitments and contingencies Shareholders' equity: Series A Preferred stock, $ 0.001 par value, 5,000,000 shares authorized; no shares issued and outstanding - - Common stock, $ 0.001 par value, 25,000,000 shares authorized; 8,209,033 shares issued and 8,061,400 shares outstanding at September 30, 2024 and 8,154,474 shares issued and 8,010,837 shares outstanding at December 31, 2023 8,209 8,154 Accrued common stock bonus - 84,576 Additional paid-in capital 73,634,888 73,505,439 Accumulated other comprehensive income 281,606 342,968 Accumulated deficit ( 68,380,855 ) ( 69,317,190 ) Common stock in treasury, at cost, 147,633 shares at September 30, 2024 and 143,637 shares at December 31, 2023 ( 168,836 ) ( 164,840 ) Total shareholders' equity 5,375,012

View Full Filing

View this 10-Q filing on SEC EDGAR