Bright Mountain Media, Inc. Files 2023 Annual Report on Form 10-K

Ticker: BMTM · Form: 10-K · Filed: Apr 1, 2024

Sentiment: neutral

Topics: 10-K, Annual Report, Financials, Bright Mountain Media, BMTM

TL;DR

<b>Bright Mountain Media, Inc. has filed its 2023 10-K report detailing financial performance and structure.</b>

AI Summary

Bright Mountain Media, Inc. (BMTM) filed a Annual Report (10-K) with the SEC on April 1, 2024. Bright Mountain Media, Inc. filed its annual report for the fiscal year ended December 31, 2023. The company is incorporated in Florida and operates in the Services-Computer Programming Services sector. The filing includes financial data for the fiscal years 2023, 2022, and 2021. Key financial statement elements such as assets, liabilities, preferred stock, common stock, and retained earnings are detailed. The report references various financial instruments including convertible promissory notes and a senior secured credit facility.

Why It Matters

For investors and stakeholders tracking Bright Mountain Media, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Bright Mountain Media's financial health and operational status for the fiscal year 2023, crucial for investors to assess performance and future prospects. The detailed financial data, including balance sheet items and debt instruments, allows stakeholders to understand the company's capital structure, liquidity, and solvency.

Risk Assessment

Risk Level: medium — Bright Mountain Media, Inc. shows moderate risk based on this filing. The company's financial statements are presented for multiple years, but specific revenue, net income, and growth figures are not detailed in the provided header information, making a precise assessment of financial trends difficult without the full report.

Analyst Insight

Review the full 10-K filing to analyze Bright Mountain Media's revenue streams, profitability, debt levels, and cash flow to make an informed investment decision.

Key Numbers

Key Players & Entities

FAQ

When did Bright Mountain Media, Inc. file this 10-K?

Bright Mountain Media, Inc. filed this Annual Report (10-K) with the SEC on April 1, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Bright Mountain Media, Inc. (BMTM).

Where can I read the original 10-K filing from Bright Mountain Media, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Bright Mountain Media, Inc..

What are the key takeaways from Bright Mountain Media, Inc.'s 10-K?

Bright Mountain Media, Inc. filed this 10-K on April 1, 2024. Key takeaways: Bright Mountain Media, Inc. filed its annual report for the fiscal year ended December 31, 2023.. The company is incorporated in Florida and operates in the Services-Computer Programming Services sector.. The filing includes financial data for the fiscal years 2023, 2022, and 2021..

Is Bright Mountain Media, Inc. a risky investment based on this filing?

Based on this 10-K, Bright Mountain Media, Inc. presents a moderate-risk profile. The company's financial statements are presented for multiple years, but specific revenue, net income, and growth figures are not detailed in the provided header information, making a precise assessment of financial trends difficult without the full report.

What should investors do after reading Bright Mountain Media, Inc.'s 10-K?

Review the full 10-K filing to analyze Bright Mountain Media's revenue streams, profitability, debt levels, and cash flow to make an informed investment decision. The overall sentiment from this filing is neutral.

Key Dates

Filing Stats: 4,460 words · 18 min read · ~15 pages · Grade level 13.9 · Accepted 2024-04-01 17:27:46

Key Financial Figures

Filing Documents

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 11 Item 1B. Unresolved Staff Comments 26 Item 1C. C ybersecu rity 26 Item 2.

Properties

Properties 27 Item 3.

Legal Proceedings

Legal Proceedings 27 Item 4. Mine Safety Disclosures 27 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 28 Item 6. Reserved 28 Item 7.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 29 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 45 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 45 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 45 Item 9A.

Controls and Procedures

Controls and Procedures 45 Item 9B. Other Information 47 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 47 Part III Item 10. Directors, Executive Officers and Corporate Governance 48 Item 11.

Executive Compensation

Executive Compensation 50 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 53 Item 13. Certain Relationships and Related Transactions, and Director Independence 55 Item 14. Principal Accounting Fees and Services 56 Part IV Item 15. Exhibits and Financial Statement Schedules 57 2 Table of Contents CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This Annual Report on Form 10-K for the year ended December 31, 2023 (this "Annual Report on Form 10-K") contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "predicts," "projects," "will be," "will continue," "will likely result," "would, "could" and similar expressions. These forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties, which could cause our actual results to differ materially from those reflected in forward-looking statements. Factors that could cause or contribute to such differences in our actual results include those discussed in this Annual Report on Form 10-K, and in particular, the risks discussed under the caption "Risk Factors" in Item 1A and those discussed in other documents we file with the Securities and Exchange Commission (the "SEC"). Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. We undertake no obligation to revise or update forward-looking statements, except as required by law. 3 Table of Contents PART I

DESCRIPTION OF BUSINESS

ITEM 1. DESCRIPTION OF BUSINESS This business description should be read in conjunction with our audited consolidated financial statements and accompanying notes thereto appearing elsewhere in this Annual Report on Form 10-K, which are incorporated herein by this reference. Unless specifically set forth to the contrary, when used in this Annual Report on Form 10-K the terms "Bright Mountain," the "Company," "we," "our," "us," and similar terms refers to Bright Mountain Media, Inc., a Florida corporation, and our subsidiaries. Business Overview Organization and Nature of Operations Bright Mountain Media, Inc. (together with its wholly-owned subsidiaries, the "Company," "Bright Mountain" or "we") has an end-to-end digital media and advertising services platform that efficiently connects brands with targeted consumer demographics. We focus on digital publishing, advertising technology, consumer insights, creative and media services. Digital Publishing Our digital publishing division focuses on developing content that attracts an audience and monetizes that audience through advertising. The current portfolio of owned and operated websites is focused on moms, parenting, families, and more broadly, women. The portfolio consists of popular websites including Mom.com, Cafemom.com, LittleThings.com, and MamasLatinas.com. This demographic is highly sought after by brands and their advertising agencies. We use internal and external technologies to constantly improve the effectiveness and efficiency of the content we create. Our publishing division monetizes its audiences through both direct and programmatic advertising sales. Advertising Technology Our advertising technology division focuses on delivering targeted ads to audiences on owned and operated sites as well as third-party publishers in a cost-effective manner through the deployment of proprietary technologies. By developing our own proprietary technology stack, we are able to pass along efficiencies t

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