Quotemedia Inc. Files Q2 2024 10-Q

TL;DR

QMCIF Q2 10-Q filed. 90.5M shares outstanding. All good.

AI Summary

Quotemedia Inc. filed its 10-Q for the period ending June 30, 2024, reporting on its financial performance. The company's common stock has a par value of $0.001 per share, with 150,000,000 shares authorized. As of the filing date, there were 90,477,798 shares outstanding.

Why It Matters

This filing provides investors with an update on Quotemedia Inc.'s financial health and operational status for the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information without immediate red flags.

Key Numbers

• 90,477,798 — Outstanding Shares (As of June 30, 2024, indicating the total number of shares held by investors.)
• $0.001 — Par Value Per Share (The nominal value assigned to each share of common stock.)
• 150,000,000 — Authorized Shares (The maximum number of shares the company is permitted to issue.)

Key Players & Entities

• QUOTEMEDIA INC (company) — Filer
• 20240630 (date) — Period of Report
• 0.001 (dollar_amount) — Par value per share of common stock
• 150000000 (dollar_amount) — Authorized shares of common stock
• 90477798 (dollar_amount) — Outstanding shares of common stock

FAQ

Key Financial Figures

• $127,650 — 3, respectively. Bad debt expenses were $127,650 and $ 25,852 for the three-months ended
• $25.00 — urplus, or earnings, an amount equal to $25.00 per share of Series A redeemable conver

Filing Documents

• qmci_10q.htm (10-Q) — 822KB
• qmci_ex311.htm (EX-31.1) — 9KB
• qmci_ex321.htm (EX-32.1) — 4KB
• qmci_ex322.htm (EX-32.2) — 4KB
• 0001654954-24-010589.txt ( ) — 3582KB
• qmci-20240630.xsd (EX-101.SCH) — 34KB
• qmci-20240630_lab.xml (EX-101.LAB) — 192KB
• qmci-20240630_cal.xml (EX-101.CAL) — 37KB
• qmci-20240630_pre.xml (EX-101.PRE) — 159KB
• qmci-20240630_def.xml (EX-101.DEF) — 81KB
• qmci_10q_htm.xml (XML) — 572KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 4.

Controls and Procedures

Controls and Procedures 24 Part II. Other Information Item 6. Exhibits 25

Signatures

Signatures 26 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

ITEM 1. Financial Statements QUOTEMEDIA, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 232,735 $ 342,014 Accounts receivable, net 1,250,482 1,154,787 Prepaid expenses 218,552 133,478 Other current assets 132,176 104,931 Total current assets 1,833,945 1,735,210 Deposits 16,404 16,850 Property and equipment, net 261,551 302,224 Capitalized internal-use software development costs, net 4,833,259 4,552,910 Goodwill 110,000 110,000 Intangible assets 56,570 65,636 Operating lease right-of-use assets (see note 5) 292,047 393,472 Total assets $ 7,403,776 $ 7,176,302 LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK, AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Accounts payable and accrued liabilities $ 2,532,243 $ 2,210,933 Deferred revenue (see note 3) 1,865,332 1,456,381 Operating lease liabilities (see note 5) 204,686 206,146 Total current liabilities 4,602,261 3,873,460 Long-term liabilities: Deferred revenue (see note 3) 258,676 375,568 Operating lease liabilities (see note 5) 84,899 191,735 Preferred stock warrant liability (see note 6) - 611,563 Total long-term liabilities 343,575 1,178,866 Mezzanine equity: Preferred stock, 10,000,000 shares authorized: Series A redeemable convertible preferred stock, $ 0.001 par value, 550,000 shares designated; shares issued and outstanding: 123,685 at June 30, 2024 and December 31, 2023 (see note 6) - 2,983,857 Stockholders' equity: Preferred stock, 10,000,000 shares authorized: Series A redeemable convertible preferred stock, $ 0.001 par value, 550,000 shares designated; shares issued and outstanding: 123,685 at June 30, 2024 and December 31, 2023 (see note 6) 2,983,857 - Common stock, $ 0.001 par value, 150,000,000 shares authorized, shares issued and outstanding: 90,477,798 at June 30, 2024 a

View Full Filing

View this 10-Q filing on SEC EDGAR