Quotemedia Inc. Reports Q3 2024 Financials

TL;DR

Q3 2024 10-Q filed. 90.5M shares outstanding. Details on stock options & preferred stock.

AI Summary

Quotemedia Inc. filed its 10-Q for the period ending September 30, 2024. The company reported common stock with a par value of $0.001 per share and authorized 150,000,000 shares. For the nine months ended September 30, 2024, the company had 90,477,798 shares outstanding. The filing also details stock options, warrants, and redeemable convertible preferred stocks.

Why It Matters

This filing provides investors with an update on Quotemedia Inc.'s financial position and share structure as of the end of the third quarter of 2024.

Risk Assessment

Risk Level: low — This filing is a routine quarterly report and does not indicate any immediate or significant new risks.

Key Numbers

• 150,000,000 — Authorized Common Stock Shares (Represents the total number of shares the company is permitted to issue.)
• 90,477,798 — Outstanding Common Stock Shares (The number of shares currently held by investors as of September 30, 2024.)
• $0.001 — Par Value per Common Share (The nominal value assigned to each share of common stock.)

Key Players & Entities

• QUOTEMEDIA INC (company) — Filer
• 20240930 (date) — Reporting Period End Date
• 150000000 (dollar_amount) — Authorized Common Stock Shares
• 90477798 (dollar_amount) — Outstanding Common Stock Shares as of 2024-09-30

FAQ

Key Financial Figures

• $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) — 806KB
• qmci_ex311.htm (EX-31.1) — 12KB
• qmci_ex312.htm (EX-31.2) — 12KB
• qmci_ex321.htm (EX-32.1) — 5KB
• qmci_ex322.htm (EX-32.2) — 5KB
• 0001654954-24-014466.txt ( ) — 3565KB
• qmci-20240930.xsd (EX-101.SCH) — 34KB
• qmci-20240930_lab.xml (EX-101.LAB) — 188KB
• qmci-20240930_cal.xml (EX-101.CAL) — 37KB
• qmci-20240930_pre.xml (EX-101.PRE) — 157KB
• qmci-20240930_def.xml (EX-101.DEF) — 81KB
• qmci_10q_htm.xml (XML) — 569KB

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 4.

Controls and Procedures

Controls and Procedures 23 Part II. Other Information Item 6. Exhibits 24

Signatures

Signatures 25 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements QUOTEMEDIA, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 291,217 $ 342,014 Accounts receivable, net 1,077,493 1,154,787 Prepaid expenses 211,748 133,478 Other current assets 151,745 104,931 Total current assets 1,732,203 1,735,210 Deposits 17,539 16,850 Property and equipment, net 235,336 302,224 Capitalized internal-use software development costs, net 5,001,877 4,552,910 Goodwill 110,000 110,000 Intangible assets 53,974 65,636 Operating lease right-of-use assets (see note 5) 239,462 393,472 Total assets $ 7,390,391 $ 7,176,302 LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK, AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Accounts payable and accrued liabilities $ 2,848,533 $ 2,210,933 Deferred revenue (see note 3) 2,027,800 1,456,381 Operating lease liabilities (see note 5) 185,989 206,146 Total current liabilities 5,062,322 3,873,460 Long-term liabilities: Deferred revenue (see note 3) 256,864 375,568 Operating lease liabilities (see note 5) 54,206 191,735 Preferred stock warrant liability (see note 6) - 611,563 Total long-term liabilities 311,070 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 September 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 September 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,

View Full Filing

View this 10-Q filing on SEC EDGAR