Vemanti Group 10-Q: $500M Authorized Shares, $10M Common Stock

TL;DR

Vemanti Group 10-Q: $500M authorized shares, $10M common stock issued. Consulting deals in Q3.

AI Summary

Vemanti Group, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported significant financial figures, including $500 million in authorized shares and $10 million in common stock issued and outstanding. Key events include consulting agreements entered into in May, August, and September 2024, and the company's fiscal year ending December 31.

Why It Matters

This filing provides insight into Vemanti Group's financial structure and recent operational agreements, which could impact its future growth and investment potential.

Risk Assessment

Risk Level: medium — The company has a large number of authorized shares, which could lead to dilution, and the filing details several consulting agreements that may indicate reliance on external services.

Key Numbers

• $500.0M — Authorized Shares (Indicates potential for significant future equity issuance.)
• $10.0M — Common Stock Issued and Outstanding (Represents the current equity base of the company.)
• 2024-09-30 — Fiscal Quarter End (The period covered by this 10-Q filing.)

Key Players & Entities

• Vemanti Group, Inc. (company) — Filer
• 2024-09-30 (date) — Reporting Period End Date
• $500,000,000 (dollar_amount) — Authorized Shares
• $10,000,000 (dollar_amount) — Common Stock Issued and Outstanding
• 2024-05-16 (date) — Consulting Agreement Date
• 2024-08-09 (date) — Consulting Agreement Date
• 2024-09-30 (date) — Consulting Agreement Date

FAQ

Filing Documents

• vmnt_10q.htm (10-Q) — 462KB
• vmnt_ex311.htm (EX-31.1) — 10KB
• vmnt_ex312.htm (EX-31.2) — 10KB
• vmnt_ex321.htm (EX-32.1) — 4KB
• vmnt_ex322.htm (EX-32.2) — 5KB
• 0001477932-24-007321.txt ( ) — 2779KB
• vmnt-20240930.xsd (EX-101.SCH) — 32KB
• vmnt-20240930_lab.xml (EX-101.LAB) — 204KB
• vmnt-20240930_cal.xml (EX-101.CAL) — 32KB
• vmnt-20240930_pre.xml (EX-101.PRE) — 175KB
• vmnt-20240930_def.xml (EX-101.DEF) — 122KB
• vmnt_10q_htm.xml (XML) — 270KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements F-1 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 4 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 8 Item 4.

Controls and Procedures

Controls and Procedures 8

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 9 Item 1A.

Risk Factors

Risk Factors 9 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 9 Item 3. Defaults Upon Senior Securities 9 Item 4. Mine Safety Disclosure 9 Item 5. Other Information 9 Item 6. Exhibits 10

SIGNATURES

SIGNATURES 11 2 Table of Contents CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Except for historical information, this report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Such forward-looking statements include, among others, those statements including the words "believes", "anticipates", "expects", "intends", "estimates", "plans" and words of similar import. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are based on our current expectations and assumptions regarding our business, potential target businesses, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you therefore that you should not rely on any of these forward-looking statements as statements of historical fact or as guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include changes in local, regional, national or global political, economic, business, competitive, market (supply and demand) and regulatory conditions. A description of these and other risks and uncertainties that could affect our business appears in the section captioned "Risk Factors" in our Annual Report on Form 10-K which we filed with the Securities and

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States and the rules of the SEC and should be read in conjunction with the audited consolidated financial statements and notes thereto contained in our Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the periods presented have been reflected herein. The results of operations for the periods presented are not necessarily indicative of the results to be expected for the full year. VEMANTI GROUP , INC. AND SUBSIDIARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS September 30, 2024 (UNAUDITED) INDEX TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Condensed Consolidated Balance Sheets at September 30, 2024 and December 31, 2023 (Unaudited) F-2 Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024 (Unaudited) F-3 Condensed Consolidated Statements of Changes in Shareholders' Equity (Deficit) for the nine months ended September 30, 2024 (Unaudited) F-4 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 (Unaudited) F-5 Notes to Condensed Consolidated Financial Statements (Unaudited) F-6 F-1 Table of Contents VEMANTI GROUP, INC. AND SUBSIDIARY CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) September 30, 2024 December 31, 2023 ASSETS Current Assets: Cash $ 21,414 $ - Prepaid Expenses 20,484 10,000 Accounts Receivable, net - related party 161,002 - Other Current Assets 983 27 Total Current Assets 203,883 10,027 TOTAL ASSETS $ 203,883 $ 10,027 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts Payable $ 47,145 $ 2,372 Accounts Payable - related party 39,540 -

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View this 10-Q filing on SEC EDGAR