美國
證券交易委員會
華盛頓特區20549
表格
(標記一個)
根據1934年證券交易所法案第13條或第15(d)條作出的季度報告 | |
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截至2024年6月30日季度結束 | |
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或 | |
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《1934年證券交易所法》第13或15(d)節下的過渡報告 | |
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從__________到____________的過渡期間 | |
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委員會文件號碼: |
(依憑章程所載的完整登記名稱) |
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(依據所在地或其他管轄區) 的註冊地或組織地點) |
| (國稅局雇主識別號碼) 統一編號 |
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(總部辦公地址) |
| (郵政編碼) |
(
註冊人電話號碼,包括區碼
不適用
(如與上次報告不同,列明前名稱、前地址及前財政年度)
根據法案第12(b)條規定註冊的證券:
每種類別的名稱 | 交易標的(s) | 每個註冊交易所的名稱 |
請打勾表示申報人(1)已在過去12個月內(或申報人根據法案1934年的證券交易法第13或15(d)條要求提交這些報告的較短期間)提交了所有要求提交的報告,並且(2)在過去至少90天內一直受到申報要求的規定。
請勾選核對是否在過去12個月(或該登記人要求提交和發帖此類文件的較短期間)內已提交每個互動數據文件,並符合S-t規則405(本章節第232.405條)的要求。
請在核取方框中指示登記者是否為大型迅速提交者、迅速提交者、非迅速提交者、較小的報告公司或新興成長型公司。請參閱《交易所法》第1202條中“大型迅速提交者”、“迅速提交者”、“較小的報告公司”和“新興成長公司”的定義。
大型加速歸檔人 | ☐ | 加速歸檔人 | ☐ |
☒ | 小型報告公司 | ||
新興成長型企業 |
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如為新興成長企業,如下所示表示公司是否選擇不使用交易所法案第13(a)條所規定的延長過渡期來遵守任何新的或修訂的財務會計準則: ☐
在核准的名冊是否屬於殼公司(如股市法規第1202條所定義之意義)方面,請用勾選符號表示。是
請指示每一類常股的流通股份數目,截至最近實際可行日期。
課程標題 |
| 2024年11月1日 |
普通股 |
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目 錄
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| 頁碼 |
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| 4 | ||
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| 4 | |
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| 5 | |
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| 6 | |
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| 7 | |
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| 8 | |
| 18 | ||
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| 23 | ||
| 23 | ||
| 23 | ||
| 24 | ||
| 25 |
2 |
目錄 |
關於前瞻性資訊的警語
本報告包含根據1933年證券法(經修訂)第27A條和1934年證券交易所法(經修訂)第21E條的前瞻性聲明。這些前瞻性聲明受已知和未知風險、不確定因素和其他因素的影響,可能導致實際結果、表現或成就與此類前瞻性聲明所表達或暗示的任何未來結果、表現或成就存在實質不同。在某些情況下,您可以通過術語如「將」、「應當」、「意圖」、「期望」、「計劃」、「預期」、「相信」、「估計」、「預測」、「潛在」或「持續」,或其他可比術語來識別前瞻性聲明。本報告包括我們與風險相關的聲明,其中之一是:
· | 一般經濟環境的下降; |
· | 我們產品和服務的市場需求下降; |
· | 客戶營業收入濃度; |
· | 與客戶收款有關的風險; |
· | 資本鑽孔和現金可用性的季節性影響; |
· | 依賴廣告供應商; |
· | 以盈利方式獲取流量的能力; |
· | 未能跟上科技變革; |
· | 我們信息技術製造行業內的中斷; |
· | 依賴關鍵人員; |
· | 監管和法律不確定性; |
· | 未能遵守隱私和數據安全法律和規定; |
· | 第三方侵權索賠; |
· | 可能捏造欺詐點擊的廣告商; |
· | 繼續符合紐交所美國上市標準的能力; |
· | 季度業績對我們普通股價格的影響; |
· | 當我們行使優先限制股票授予和認股權證時對我們股東的稀釋;和 |
· | 我們辨識、融資、完成並成功整合未來收購的能力。 |
這些前瞻性陳述基於各種因素,並利用許多假設和其他因素推導而來,可能導致我們的實際結果與前瞻性陳述中的結果有實質差異。這些因素大多難以準確預測,並且通常超出我們的控制範圍。您應該考慮與此處可能發表的任何前瞻性陳述相關的風險領域描述。讀者應當警惕,不應過度依賴這些前瞻性陳述,並且應仔細審閱本報告的所有內容,包括在我們於2023年12月31日提交給證券交易委員會("SEC")的2024年2月29日提交的年度報告中描述的風險,以及我們隨後向SEC提交的文件中出現的風險因素。
除了我們在聯邦證券法下披露重要信息的持續義務外,我們不承擔任何公開發布對任何前瞻性陳述的修訂、報告事件或報告未預料到事件的義務。這些前瞻性陳述僅反映本報告日期的情況,您不應僅依賴這些陳述,還應考慮與這些陳述和我們業務相關的風險和不確定性。
其他相關信息
除非另有明示,本報告中使用的“inuvo”、“公司”、“我們”、“我們的”等術語指的是Inuvo,Inc.,一家內華達州公司,及其子公司。在本報告中使用的“2024年第三季度”指的是截至2024年9月30日的三個月,“2023年第三季度”指的是截至2023年9月30日的三個月,“2023年”指的是截至2023年12月31日的財政年度,“2024年”指的是截至2024年12月31日的財政年度。出現在我們公司網站www.inuvo.com和各種社交媒體平台上的信息不包含在本報告中。
3 |
目錄 |
第一部分 - 財務信息
項目 1. 基本報表
inuvo, INC.
合併資產負債表
2024年9月30日 (未經審核)和2023年12月31日
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| 2024年9月30日 |
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| 2023年12月31日 |
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資產 |
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流動資產合計 |
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現金及現金等價物 |
| $ |
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| $ |
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應收帳款,扣除信用損失准備金 $ |
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預付費用及其他流動資產 |
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全部流動資產 |
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物業及設備,扣除折舊後淨值 |
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其他資產 |
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商譽 |
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無形資產,扣除累積攤銷金額為45,964。 |
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轉介和支持服務協議預付 |
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使用權資產-營運租賃 |
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使用權資產 - 財務租賃 |
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其他資產 |
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其他總資產 |
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資產總額 |
| $ |
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| $ |
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550,714 |
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流動負債 |
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應付賬款 |
| $ |
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| $ |
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應計費用及其他流動負債 |
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租賃負債-營運租賃 |
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租賃負債-融資租賃 |
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流動負債合計 |
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長期負債 |
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递延所得税负债 |
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租賃負債-營運租賃 |
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租賃負債-融資租賃 |
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其他長期負債 |
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長期負債總額 |
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股東權益 |
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優先股,面額$0.01,授權股數為5,000,000股,發行且流通股數為截至2024年6月30日和2023年12月31日之184,668,188股和181,364,180股。 |
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已授權的股份 |
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0.01 |
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授權股份 |
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資本公積額額外增資 |
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累積虧損 |
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股東權益總額 |
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負債總額及股東權益合計 |
| $ |
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| $ |
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請參閱基本報表的附註。
4 |
目錄 |
inuvo, INC.
綜合損益表
(未經查核)
|
| 截至9月30日三個月的數據: |
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| 截至9月30日的九個月 |
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| 2024 |
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| 2023 |
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| 2024 |
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| 2023 |
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營業收入 |
| $ |
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| $ |
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| $ |
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| $ |
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營業成本 |
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毛利潤 |
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營業費用 |
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營銷成本 |
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A類 |
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總務與行政 |
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營業費用總計 |
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營業虧損 |
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| ( | ) |
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融資(支出),扣除利息收入 |
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其他收益 |
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所得稅支出 |
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淨損失 |
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其他綜合收益 |
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可交易證券的未實現損失 |
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全面損失 |
| $ | ( | ) |
| $ | ( | ) |
| $ | ( | ) |
| $ | ( | ) |
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每股普通股資料 |
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基本和稀釋: |
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淨損失 |
| $ | ( | ) |
| $ | ( | ) |
| $ | ( | ) |
| $ | ( | ) |
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加權平均股份 |
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基礎 |
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稀釋 |
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請參考合併財務報表的附註。
5 |
目錄 |
INUVO, INC.
合併現金流量表
(未經審計)
|
| 截至9月30日九個月期間 |
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| 2024 |
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| 2023 |
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經營活動: |
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淨虧損 |
| $ | ( | ) |
| $ | ( | ) |
調整爲淨損失到經營活動現金流量淨使用: |
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折舊和攤銷 |
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折舊-資產使用權-融資 |
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基於股票的補償 |
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撥備和補助的攤銷 |
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財務費用的攤銷 |
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指認 impairment and amortization of referral and support services agreement advance |
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調整預期應收賬款損失 |
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遞延所得稅費用 |
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證券交易損益 |
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存貨權證費用 |
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經營性資產和負債的變化: |
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應收賬款 |
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使用權資產 - 經營租賃 |
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預付費支出及其他流動資產、其他資產 |
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| ( | ) |
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應計費用及其他負債 |
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應付賬款 |
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租賃負債 - 經營租賃 |
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用於經營活動的淨現金 |
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投資活動: |
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設備購買及資本化發展成本 |
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可變現市場證券的出售收益 |
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投資活動產生的淨現金流量 |
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籌資活動: |
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信貸額度的總收益 |
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信用額度貸款償還 |
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金融租賃義務的本金支付 |
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市場銷售收益 |
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資本增加淨額扣除發行成本 |
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行使限制性股票單位授予的淨稅額 |
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融資活動產生的現金流量淨額 |
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淨變動—現金 |
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年初的現金及現金等價物 |
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期末的現金及現金等價物 |
| $ |
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| $ |
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補充信息: |
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支付的利息 |
| $ |
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| $ |
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用於經營租賃負債的使用權資產收購 |
| $ |
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| $ |
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發行受限制股票單位以抵銷應計激勵債務 |
| $ |
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| $ |
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請參考合併財務報表的附註。
6 |
目錄 |
INUVO, INC.
股東權益合併報表
(未經審計)
截至9月30日九個月期間
2024 | ||||||||||||||||||||
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| 普通股 |
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| 附加 |
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| 累計 |
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| 股份 |
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| 股票 |
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| 股本 |
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| 虧損 |
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| 總計 |
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截至2023年12月31日的餘額 |
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| $ |
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| $ |
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| $ | ( | ) |
| $ |
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淨虧損 |
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基於股票的補償 |
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發行股票以支付已獲授的限制性股票單位 |
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用於扣稅的已歸屬限制性股票的股份 |
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截至2024年3月31日的餘額 |
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淨虧損 |
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基於股票的補償 |
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發行股票以支付已獲授的限制性股票單位 |
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因稅款扣留的已歸屬限制性股票份額 |
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截至2024年6月30日的餘額 |
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淨虧損 |
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基於股票的補償 |
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發行受限制股票單位 |
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發行股票以支付已獲授的限制性股票單位 |
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截至2024年9月30日的餘額 |
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2023 | |||||||||||||||||||||||||||
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未實現債務證券收益 |
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基於股票的補償 |
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發行股票以支付已獲授的限制性股票單位 |
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股份被扣留以支付受限制股解禁稅款 |
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與權證解鎖變更相關的費用逆轉 |
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截至2023年3月31日的餘額 |
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淨虧損 |
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債券投資未實現損失 |
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基於股票的補償 |
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發行股票以支付已獲授的限制性股票單位 |
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股票認股權證爲轉介協議發行 |
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資本增加,扣除發行成本後淨額 |
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AGP市價收盤的直接銷售 |
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截至2023年6月30日的餘額 |
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淨虧損 |
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基於股票的補償 |
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發行股票以支付已獲授的限制性股票單位 |
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爲推薦協議發行的股票認股權證 |
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截至2023年9月30日的餘額 |
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7 |
目錄 |
Inuvo,Inc.
合併財務報表附註
(未經審計)
註釋 1 – 組織與業務
公司概括
inuvo是一家廣告技術和服務業務,向品牌、代理商(統稱"代理公司和品牌")以及廣告需求的大型整合者("平台")銷售信息技術解決方案。inuvo的營業收入來自於在社交、搜索和程序化廣告渠道中,在設備、網站、應用程序和瀏覽器上放置數字廣告。inuvo促成並獲得報酬,以每月傳遞數百萬條廣告信息,並在其客戶中包括跨各行業衆多知名公司。
Inuvo的主要任務是通過其專有和專利的生成大型語言人工智能(人工智能)來顛覆廣告行業,這項科技能夠在不使用消費者身份或數據的情況下識別和定位受衆。人工智能旨在替代傳統上爲廣告行業服務的消費者數據、分析、細分及相似模型技術,因爲廣告行業正過渡到一個新的範式,在這個範式中,由於立法和技術變化,消費者的身份和數據不再可用於廣告決策。與其針對人群,人工智能更關注於人們對產品、服務和品牌感興趣的原因。
Inuvo的人工智能科技解決了這個挑戰,客戶可以將其作爲託管服務和軟件即服務使用。對於某些客戶,Inuvo還開發了各種專有科技和資產,包括數字內容、網站、自動化廣告活動、廣告欺詐檢測、績效報告和預測媒體組合建模。
Inuvo的產品和服務使用分析、數據和人工智能,以優化購買和
實時廣告投放。這些功能通常與服務一起單獨銷售,也組合銷售。
根據客戶需求彼此合作。這些產品和服務包括:
| · | 意圖關鍵一種基於人工智能的消費者意圖識別系統,旨在精準地接觸移動和桌面端市場受衆;和 |
|
|
|
| · | 篝火一種營銷和廣告解決方案,利用數據、分析、軟件和出版物,將廣告信息與在線網站上的消費者對齊。 |
與inuvo業務模型相關的進入壁壘很多,包括對大型語言模型的熟練掌握
基於人工智能、大規模信息處理、軟件開發、消費數據產品、分析、物聯網
(物聯網) 集成以及實現物聯網所需的關係。Inuvo的知識產權受19項已授予和6項待處理專利的保護。
流動性
我們的主要流動資金來源是出售我們的普通股和我們在基本報表中討論的信貸設施,詳見附註5-銀行負債。
2023年5月30日,我們通過註冊直接發行籌集了$
8 |
目錄 |
2024 年 5 月 7 日,我們與 H.C. Wainwright & Co. 簽訂了市場發行協議(「AtM 協議」)。有限責任公司(「Wainwright」),出售我們的普通股,面值美元
2024年7月31日,我們與SLR Digital Finance LLC(「SLR」)簽署了一項融資和安防-半導體協議(「融資協議」),生效日期爲2024年7月30日。根據融資協議的條款,SLR將根據符合條件的應收賬款最高融資$
我們已將資源集中在一個計劃上,旨在通過我們的人工智能科技IntentKey,推廣我們獨特的多渠道廣告能力,這爲我們提供了技術優勢和更高的利潤率。如果我們能夠成功實施我們的計劃,我們預計將恢復來自運營的正現金流。然而,沒有保證我們能夠實現這一目標。
截至 2024 年 9 月 30 日,我們有大約 $
管理層計劃通過其信貸額度產生的現金支持公司的未來運營和資本支出,直到我們實現盈利爲止。信貸額度可按需支付,因此不能保證未來運營所需的足夠借款在實現盈利之前可以獲得。我們的賬款回收期不到30天,也可以用來滿足應計義務。我們相信我們目前的現金狀況和信貸額度將足以支持至少在本文件提交之日起的十二個月內的運營。如果我們擴大IntentKey產品的計劃不成功,我們可能需要通過私募或公開證券銷售、債務融資或長期合作/許可交易來資助運營。
9 |
目錄 |
註釋2 - 重要會計政策摘要
做法的基礎
所呈現的綜合財務報表是inuvo及其子公司的。隨附的未經審計的綜合財務報表是根據SEC規定編制的,該規定允許在中期披露中減少披露。根據這些規定和法規,某些信息和腳註披露已經被簡化或省略。截至2023年12月31日的綜合資產負債表是從經審計的財務報表中衍生出來的,但不包括美國一般公認會計原則(「GAAP」)要求的所有披露。我們認爲,這些綜合財務報表反映了爲在顯示的中期期間的運營結果和財務狀況進行公正展示所必要的所有調整,包括正常的經常性應計和其他項目。中期期間的結果不一定代表全年結果。有關重要會計政策和某些其他信息的更完整討論,應閱讀本報告與2023年12月31日結束的年度10-k表格中包含的綜合財務報表和附註一起,該報告於2024年2月29日提交給了SEC。
估計的使用
根據普通會計原則編制財務報表需要管理層進行估計和假設,這些估計和假設會影響資產、負債、淨收入和費用的報告金額,以及披露可能的資產和負債。附屬的合併財務報表中使用的估計和假設基於管理層在合併財務報表日期評估相關事實和情況的定期評估。我們定期評估與資本化勞動、商譽和購買的無形資產估值以及所得稅估值準備相關的估計和假設。實際結果可能會與編制附屬 合併財務報表時使用的估計和假設不同,這種差異可能是重大的。
收入確認
我們通過識別受衆並代表客戶展示廣告來實現營業收入。我們將我們的產品、技術和服務提供給代理機構和品牌以及平台(廣告需求的大型整合者)。目前,我們IntentKey產品和服務的營業收入主要來自代理機構和品牌,而我們Bonfire產品和服務的營業收入主要來自平台。我們的營業收入來自於廣告在廣告渠道、瀏覽器、應用和設備上的投放。這些廣告投放的定價通常是按點擊次數或每千次曝光次數來計費。
我們的營業收入是廣告數量與我們爲客戶進行投放時獲得的價格(利用我們的技術)的函數。我們承擔風險,尋找低於銷售價格的投放成本。
當合同服務或產品的控制權轉移給我們的客戶時,我們確認營業收入,金額反映我們預計在交易所獲得的津貼。我們通過以下步驟判斷營業收入的確認:(i) 確定與客戶的合同,(ii) 確定合同中的履約義務,(iii) 確定交易價格,(iv) 將交易價格分配給合同中的履約義務,以及(v) 在履約義務得到滿足時確認營業收入。
對於代理商和品牌,協議條款在插入訂單("IO")中體現,營業收入在提供服務時確認,時間段由IO覆蓋。對於平台,條款通常在多年度主服務協議中體現,營業收入根據廣告在發生的時間段內投放或點擊的數量確認。我們與客戶結算廣告投放價格時,會扣除任何質量調整的費用。
10 |
目錄 |
在截至2024年9月30日的三個月期間,我們創造了美元
客戶集中度
截至2024年9月30日爲止的三個月期間,一個客戶貢獻了
最近採用的會計準則
2023年11月,美國財務會計準則委員會(「FASB」)發佈了《美國財務會計準則公告》,擴大了增量業務部門信息的披露要求。新指南適用於2023年12月15日後開始的財政年度和2024年12月15日後開始的財政年度的中期期間,允許提前採納。公司正在評估在2025財年採用時對其合併財務報表的影響,但不希望其影響很大。 分部報告(主題 280):報告服務部門(主題 280)變更披露方式,通過升級對意義重大的分部費用的披露來改進分部報告披露要求。該準則適用於 2023 年 12 月 15 日之後的財年和 2024 年 12 月 15 日之後的財年間隔期。該準則必須適用於財務報表中呈現的所有期間的追溯。該公司目前正在評估該標準對合並財務報表的影響。該準則要求在年度和中期披露重要細分部門費用和其他細分項目。此外,還要求披露首席運營決策者(「CODM」)的頭銜和職位。這項ASU適用於2023年12月15日後開始的財政年度,以及2024年12月15日後開始的財政年度內的中期時段,可提前採納。預計採納不會對公司的彙總經營結果、現金流量或財務狀況產生實質影響,但會對披露產生影響。
2023年12月,FASB發佈了ASU編號2023-09,所涉及的是《收入稅(主題740)》控件 所得稅披露改進根據此ASU,需要提供年度表格有效稅率調整披露,其中包括特定類別和司法級別的信息,以及按聯邦、州/地方和重要外國司法管轄區分的所得稅支付淨額,扣除收到的退款。此ASU自2024年12月15日後開始生效,允許提前採納。採納將對披露產生影響,但不會對公司的合併經營業績、現金流量或財務狀況產生影響。
11 |
目錄 |
第三部分 - 財產和設備
截至以下日期,房地產和設備的淨賬面價值如下:
|
| 2024年9月30日 |
|
| 2023年12月31日 |
| ||
傢俱和固定裝置 |
| $ |
|
| $ |
| ||
設備 |
|
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| ||
大寫內部使用和購買的軟件 |
|
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| ||
租賃改良 |
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| ||
小計 |
|
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| ||
減:累計折舊與攤銷 |
|
| ( | ) |
|
| ( | ) |
總計 |
| $ |
|
| $ |
|
截至2024年9月30日和2023年9月30日結束的三個月內,折舊費用爲$
註釋 4 – 無形資產和商譽
以下是截至2024年9月30日的無形資產和商譽的時間表:
|
| 期限 |
|
| 賬面價值 價值 |
|
| 累計攤銷和減值 |
|
| 淨賬面價值 |
|
| 年初至今攤銷 |
| |||||
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| |||||
客戶名單,谷歌 |
|
|
| $ |
|
| $ | ( | ) |
| $ |
|
| $ |
| |||||
客戶名單,ReTargeter |
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| |||||
品牌名稱,ReTargeter |
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|
| |||||
客戶關係 |
|
|
|
|
|
|
| ( | ) |
|
|
|
|
|
| |||||
交易名稱,網站屬性(1) |
|
| - |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
作爲長期資產分類的無形資產 |
|
|
|
|
| $ |
|
| $ | ( | ) |
| $ |
|
| $ |
| |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
商譽,總計 |
|
| - |
|
| $ |
|
| $ | — |
|
| $ |
|
| $ | — |
|
| (1) | 與我們網站財產相關的商標名稱具有無限的壽命,因此不進行攤銷。 |
未來五年及以後的攤銷費用如下:
2024 年餘下的時間 |
| $ |
| |
2025 |
|
|
| |
2026 |
|
|
| |
2027 |
|
|
| |
2028 |
|
|
| |
然後 |
|
|
| |
總計 |
| $ |
|
12 |
目錄 |
以下是2023年12月31日無形資產和商譽的時間表:
|
| 期限 |
|
| 賬面價值 價值 |
|
| 累計攤銷和減值 |
|
| 淨賬面價值 |
|
| 2023 攤銷 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
客戶清單,谷歌 |
|
|
| $ |
|
| $ | ( | ) |
| $ |
|
| $ |
| |||||
科技 |
|
|
|
|
|
|
| ( | ) |
|
|
|
|
|
| |||||
客戶清單,ReTargeter |
|
|
|
|
|
|
| ( | ) |
|
|
|
|
|
| |||||
客戶清單,所有其他 |
|
|
|
|
|
|
| ( | ) |
|
|
|
|
|
| |||||
品牌名稱,ReTargeter |
|
|
|
|
|
|
| ( | ) |
|
|
|
|
|
| |||||
客戶關係 |
|
|
|
|
|
|
| ( | ) |
|
|
|
|
|
| |||||
交易名稱、網絡資產 |
|
| - |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
長期歸類爲無形資產 |
|
|
|
|
| $ |
|
| $ | ( | ) |
| $ |
|
| $ |
| |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
商譽、總計 |
|
|
|
|
| $ |
|
| $ | — |
|
| $ |
|
| $ | — |
|
注5 – 銀行債務
在2023年3月1日,我們與三菱HC資本美國公司(前稱日立資本美國公司, "MHCA")簽署了貸款和安防-半導體協議及抵押品文件的修訂協議第1號("協議")。根據協議的條款,MHCA向我們提供了一個$
2024年7月30日,我們與SLR數字金融有限責任公司(「SLR」)簽訂了融資與安防半導體協議和抵押文件(「融資協議」)。根據融資協議的條款,SLR向我們提供了一筆信貸承諾。我們被允許在融資協議下借款,最高可達信貸承諾的%。我們將按照高於Prime Rate但不低於7%的利率每月支付SLR利息。融資協議爲期三年。融資協議包含一些我們同樣需遵守的肯定和否定契約條款。我們同意向SLR支付最高信貸承諾金額的%年度設施費。我們也同意支付每月服務費,爲利率乘以$和一個月內平均每日未償貸款的差額。我們有責任向SLR支付每月服務費。
截至2024年9月30日,融資協議項下的未償餘額爲$
13 |
目錄 |
註釋6 - 應計費用和其他流動負債
應計費用和其他流動負債截至以下時間包括以下內容:
|
| 2024年9月30日 |
|
| 2023年12月31日 |
| ||
應計營銷成本 |
| $ |
|
| $ |
| ||
應計薪資和佣金負債 |
|
|
|
|
|
| ||
應計費用和其他 |
|
|
|
|
|
| ||
阿肯色州補助金應急 |
|
|
|
|
|
| ||
應計稅款,當前部分 |
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
總計 |
| $ |
|
| $ |
|
注7 - 承諾
2021 年 9 月 17 日,我們與業務發展合作伙伴簽署了一項多年期協議,爲我們提供推薦和支持服務。該協議要求預付費 $
根據協議的一部分,我們授予了一項認股權證,行使價爲
註釋8 – 所得稅
截至2024年9月30日,我們擁有$
注9 – 股票基礎報酬
我們維持一個基於股票的薪酬計劃,旨在吸引、留住人才並激勵員工和董事,同時使股東和員工的利益保持一致。在2024年和2023年期間,我們授予了來自2017年股權薪酬計劃(「2017 ECP」)的限制性股票單位(「RSU」)。RSU的歸屬期通常最長爲三年,且/或基於達到某些財務目標。
截至2024年9月30日,根據2017年ECP,我們普通股的授權股份總數爲
補償費用
截至2024年9月30日結束的三個月和九個月,我們記錄了所有股權激勵計劃的股票補償費用爲$
14 |
目錄 |
下表總結了截至2024年9月30日2017年ECP下尚未授予的股票補助情況:
|
| 尚未行使的期權 |
|
| 未行使的RSU |
|
| 期權和已行使的RSU |
|
| 可用股份 |
|
| 總授權獎勵 |
| |||||
總計 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
股票期權的公允價值是根據授予日期的普通股市值確定的。 股票期權的公允價值是根據Black-Scholes-Merton估值模型確定的。 使用這個估值模型涉及到判斷性的假設,在確定補償費用方面非常敏感,包括期權的預期存續期、股價波動率、無風險利率、股息率、行權價和棄權率。 拋棄率在估值時進行估計,並在歸屬期內按比例減少費用。 棄權率按未歸屬期權總數的百分之幾估計,根據實際棄權情況與先前估計有何不同(或預計會有何不同)定期進行調整。
下表總結了截至2024年9月30日的九個月內我們的限制性股票單位(RSUs)活動:
|
| 限制性股票單位(RSUs) |
| |||||
|
| 股票數量 |
|
| 加權平均授予日公允價值 |
| ||
期初的未解決 |
|
|
|
| $ |
| ||
已授予 |
|
|
|
| $ |
| ||
歸屬 |
|
| ( | ) |
| $ |
| |
取消 |
|
| ( | ) |
| $ |
| |
期末未行權期權 |
|
|
|
| $ |
|
2024年9月30日結束的九個月內,公司授予員工限制性股票,以清償截至2023年12月31日的計提薪酬義務。這些限制性股票的實行期爲一年,授予不會帶來額外費用。$
Note 10 – 股東權益
認購權證
2021年9月17日,我們與一個營銷平台和諮詢公司簽訂協議,爲我們提供推薦和壓力位服務,爲期
15 |
目錄 |
每股收益
截至2024年和2023年9月30日的三個月和九個月期間,我們從持續經營中產生了淨虧損,因此任何潛在的普通股發行將具有殺跌效應。
注11 - 租賃
我們簽訂的運營和融資租賃主要用於房地產和設備租賃。這些租約的條款範圍包括
截至2024年9月30日和2023年,我們錄得了$。
2023年5月,我們簽訂了一份租賃協議
在2024年1月,我們對位於阿肯色州小石城的公司總部的租賃進行了修訂和續簽。租賃期延長至
當每個租賃中隱含的利率無法輕易判斷時,我們使用增量借款利率來判斷租賃支付的現值。
2024年9月30日結束的期間與我們的經營租賃負債相關的信息如下:
|
| 截至2024年9月30日三個月的財務報告 |
|
| 截至2024年9月30日的九個月淨利潤 |
| ||
經營租賃負債的現金支付 |
| $ |
|
| $ |
|
2024年9月30日結束的最低未來租賃支付 |
|
|
| |
2024 年餘下的時間 |
|
|
| |
2025 |
|
|
| |
2026 |
|
|
| |
2027 |
|
|
| |
2028 |
|
|
| |
然後 |
|
|
| |
|
|
|
| |
減去隱含利息 |
|
| ( | ) |
租賃負債的總額 |
| $ |
|
加權平均剩餘租賃期限 |
|
| ||
加權平均折扣率 |
|
| % |
16 |
目錄 |
截至2024年9月30日,我們的融資租賃負債相關信息如下:
|
| 截至2024年9月30日三個月的財務報告 |
|
| 截至2024年9月30日的九個月淨利潤 |
| ||
融資租賃負債的現金支付 |
| $ |
|
| $ |
|
2024年9月30日結束的最低未來租賃支付 |
|
|
| |
2024年(剩餘的年份) |
|
|
| |
2025 |
|
|
| |
|
|
|
| |
減去隱含利息 |
|
| ( | ) |
租賃負債的總額 |
| $ |
|
加權平均剩餘租賃期限 |
|
| ||
加權平均折扣率 |
|
| % |
備註 12 - 信用損失準備
截至2024年9月30日的九個月期間和截至2023年12月31日的年度,壞賬準備的活動如下:
|
| 2024 |
|
| 2023 |
| ||
年初餘額 |
| $ |
|
| $ |
| ||
調整預期應收賬款損失 |
|
| ( | ) |
|
|
| |
覈銷 |
|
| ( | ) |
|
| ( | ) |
恢復 |
|
|
|
|
|
| ||
期末餘額 |
| $ |
|
| $ |
|
2024年9月30日壞賬準備金爲$
註釋 13 – 關聯方交易
在截至2024年9月30日的九個月期間,公司與First Orion corp.進行了交易,其中我們的一個董事擁有重大利益。該交易涉及服務銷售,金額約爲$
17 |
目錄 |
第2項。管理對財務狀況和經營業績的討論和分析
公司概括
Inuvo是一家廣告科技和服務業務,向品牌、代理商和廣告需求的大型整合商(「平台」)銷售信息技術解決方案。Inuvo的營業收入來自於在社交、搜索和程序化廣告渠道的設備、網站、應用和瀏覽器上投放數字廣告。Inuvo促成並獲得報酬,以每月傳遞數百萬條廣告信息,並將衆多全球知名公司列爲客戶。
Inuvo的主要任務是通過其專有和專利的生成大型語言人工智能(人工智能)來顛覆廣告行業,這項科技能夠在不使用消費者身份或數據的情況下識別和定位受衆。人工智能旨在替代傳統上爲廣告行業服務的消費者數據、分析、細分及相似模型技術,因爲廣告行業正過渡到一個新的範式,在這個範式中,由於立法和技術變化,消費者的身份和數據不再可用於廣告決策。與其針對人群,人工智能更關注於人們對產品、服務和品牌感興趣的原因。
Inuvo的人工智能科技解決了這個挑戰,客戶可以將其作爲託管服務和軟件即服務使用。對於某些客戶,Inuvo還開發了各種專有科技和資產,包括數字內容、網站、自動化廣告活動、廣告欺詐檢測、績效報告和預測媒體組合建模。
Inuvo的產品和服務使用分析、數據和人工智能,以優化購買和
實時廣告投放。這些功能通常與服務一起單獨銷售,也組合銷售。
根據客戶需求彼此合作。這些產品和服務包括:
| · | IntentKey:基於人工智能的消費者意圖識別系統,旨在精確地覆蓋具有高度針對性的移動和桌面市場受衆;以及 |
|
|
|
| · | 篝火:一種營銷和廣告解決方案,其中使用數據、分析、軟件和出版物的集合來調整在線網站上向消費者傳達的廣告信息。 |
與inuvo業務模型相關的進入壁壘很多,包括對大型語言模型的熟練掌握
基於人工智能、大規模信息處理、軟件開發、消費數據產品、分析、物聯網
(物聯網) 集成以及實現物聯網所需的關係。Inuvo的知識產權受19項已授予和6項待處理專利的保護。
關鍵會計政策和估計
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenue and expenses during the reported periods. The estimates and assumptions that management makes affect the reported amounts of assets, liabilities, net revenues and expenses and disclosure of contingent assets and liabilities. The estimates and assumptions used are based upon management’s regular evaluation of the relevant facts and circumstances as of the date of the consolidated financial statements. Actual results may differ from the estimates and assumptions used in preparing the accompanying consolidated financial statements, and such differences could be material. Our significant accounting policies related to Revenue Recognition, Equity-Based Compensation, Capitalized Software Costs, Goodwill, Long-lived Assets and others are described in Note 2 - Summary of Significant Accounting Policies of our Consolidated Financial Statements included elsewhere in this Report.
18 |
Table of Contents |
Results of Operations
|
| For the Three Months Ended September 30, |
|
| For the Nine Months Ended September 30, |
| ||||||||||||||||||||||||||
|
| 2024 |
|
| 2023 |
|
| Change |
|
| % Change |
|
| 2024 |
|
| 2023 |
|
| Change |
|
| % Change |
| ||||||||
Net Revenue |
| $ | 22,371,153 |
|
| $ | 24,570,588 |
|
| $ | (2,199,435 | ) |
|
| (9.0 | )% |
| $ | 57,603,935 |
|
| $ | 53,069,433 |
|
| $ | 4,534,502 |
|
|
| 8.5 | % |
Cost of Revenue |
|
| 2,594,642 |
|
|
| 2,274,626 |
|
|
| 320,016 |
|
|
| 14.1 | % |
|
| 7,599,872 |
|
|
| 7,833,729 |
|
|
| (233,857 | ) |
|
| (3.0 | )% |
Gross Profit |
| $ | 19,776,511 |
|
| $ | 22,295,962 |
|
| $ | (2,519,451 | ) |
|
| (11.3 | )% |
| $ | 50,004,063 |
|
| $ | 45,235,704 |
|
| $ | 4,768,359 |
|
|
| 10.5 | % |
Net Revenue
Revenue for the three-month period ended September 30, 2024, decreased 9.0% and revenue for the nine-month period ended September 30, 2024, increased 8.5% as compared to the same periods in 2023, respectively. The higher revenue for the three-month period ended September 30, 2023 was mainly driven by an increased focus on and the launch of new product enhancements for Platform customers. The revenue for the three-month period ended September 30, 2023 was extraordinarily high, the highest quarterly revenue realized in the Company's history. The higher revenue for the nine-month period ended September 30, 2024 compared to comparable prior year period was primarily attributable to increasing demand within Platforms. Revenues related to Agencies & Brands increased by 15% for the three-month period ended September 30, 2024, compared to the same period in the prior year.
Cost of Revenue
Cost of revenue is primarily composed of payments to advertising exchanges that provide access to digital inventory where we serve advertisements. To a lesser extent, cost of revenue includes payments to website publishers and app developers that host advertisements. For the three-month period ended September 30, 2024, the increase in cost of revenue compared to the same period in 2023 was related to the higher revenue within Agencies & Brands in this year's quarter. For the nine-month period ended September 30, 2024, the decrease in cost of revenue compared to the same period in 2023 was attributed to lower revenue within Agencies & Brands during the comparable period.
Operating Expenses
|
| For the Three Months Ended September 30, |
| For the Nine Months Ended September 30, |
| |||||||||||||||||||||||||
|
| 2024 |
|
| 2023 |
|
| Change |
|
| % Change |
| 2024 |
|
| 2023 |
|
| Change |
|
| % Change |
| |||||||
Marketing costs |
| $ | 17,006,131 |
|
| $ | 17,625,806 |
|
| $ | (619,675 | ) |
| (3.5%) |
| $ | 42,540,355 |
|
| $ | 36,769,972 |
|
| $ | 5,770,383 |
|
|
| 15.7 | % |
Compensation |
|
| 3,106,384 |
|
|
| 3,525,943 |
|
|
| (419,559 | ) |
| (11.9%) |
|
| 9,362,474 |
|
|
| 10,202,200 |
|
|
| (839,726 | ) |
|
| (8.2 | )% |
General and administrative |
|
| 1,607,258 |
|
|
| 2,335,295 |
|
|
| (728,037 | ) |
| (31.2%) |
|
| 3,835,162 |
|
|
| 6,229,069 |
|
|
| (2,393,907 | ) |
|
| (38.4 | )% |
Operating expenses |
| $ | 21,719,773 |
|
| $ | 23,487,044 |
|
| $ | (1,767,271 | ) |
| (7.5%) |
| $ | 55,737,991 |
|
| $ | 53,201,241 |
|
| $ | 2,536,750 |
|
|
| 4.8 | % |
Marketing costs consist mostly of traffic acquisition (i.e., media) costs and include those expenses required to attract an audience to various web properties. Marketing costs for the three months ended September 30, 2024 were 3.5% lower than the same quarter last year primarily due to lower revenue derived from Platform advertisers. Marketing costs for the nine months ended September 30, 2024 were 15.7% higher compared to the same period in 2023 due primarily to higher revenue from Platform advertisers in the comparable periods. In the third quarter of 2024 we fully amortized the remaining balance of the referral and support services asset (see Note 7 - Commitments of our Consolidated Financial Statements) increasing the Marketing costs in both the three and nine months ended September 30, 2024 .
Compensation expense was $420,000 lower for the three months ended September 30, 2024 and $840,000 lower for the nine months ended September 30, 2024, compared to the same time periods in 2023 primarily due to lower stock-based compensation and accrued incentive expense. Our total employment, both full- and part-time, was 82 at September 30, 2024 compared to 86 at September 30, 2023.
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Table of Contents |
General and administrative costs for the three and nine months ended September 30, 2024 decreased 31.2% and 38.4%, respectively, compared to the same periods in 2023 due primarily to an adjustment in the reserve for expected credit losses. During 2024, we made an adjustment to the allowance for expected credit losses for a balance due from a former client in 2022. The client has since paid off their full outstanding balance and no longer has any obligation to us as of September 30, 2024.
Financing expense, net
Financing expense, net of interest income, for the three and nine months ended September 30, 2024, was approximately $101,000 and $163,000, respectively.
Financing (expense), net of interest income, for the three and nine months ended September 30, 2023, was approximately $20,000 income and $37,000 expense, respectively.
The higher expenses in this year’s periods compared to last year was due to the amortization of the closing costs of the new credit agreement (see Note 5 – Bank Debt of our Consolidated Financial Statements) and to higher overall borrowing balances.
Liquidity and Capital Resources
Our principal sources of liquidity are the sale of our common stock and our credit facility discussed in Note 5 - Bank Debt of our Consolidated Financial Statements.
On May 7, 2024, we entered into an At The Market Offering Agreement (the “ATM Agreement”) with H.C. Wainwright & Co. LLC (“Wainwright”), to sell shares of our common stock, par value $0.001 per share, (the “Shares”), having an aggregate sales price of up to $15,000,000, from time to time, through an “at the market offering” program under which Wainwright will act as sales agent. The sales, if any, of the Shares made under the ATM Agreement will be made by any method permitted by law deemed to be an “at the market offering” as defined in Rule 415 promulgated under the Securities Act of 1933, as amended. The Company will pay Wainwright a commission rate of up to 3.0% of the aggregate gross proceeds from each sale of Shares. For the nine-month period ended September 30, 2024, the Company has not sold any shares of common stock under the ATM Agreement.
On July 31, 2024, we entered into a Financing and Security Agreement (the "Financing Agreement”) with SLR Digital Finance LLC ("SLR”), effective July 30, 2024. Pursuant to the terms of the Financing Agreement, SLR will finance up to $10 million dependent upon eligible receivables. See Note 5 – Bank Debt of our Consolidated Financial Statements.
We have focused our resources behind a plan to market our collective multi-channel advertising capabilities differentiated by our AI technology, the IntentKey, where we have a technological advantage and higher margins. If we are successful in implementing our plan, we expect to return to positive cash flows from operations. However, there is no assurance that we will be able to achieve this objective.
As of September 30, 2024, we have approximately $2.6 million in cash and cash equivalents. Our net working capital deficit was $3.4 million. We have encountered recurring losses and cash outflows from operations, which historically we have funded through equity offerings and debt facilities. In addition, our investment in internally developed software consists primarily of labor costs which are of a fixed nature. Through September 30, 2024, our accumulated deficit was $173.4 million.
Management plans to support the Company’s future operations and capital expenditures primarily through cash generated from its credit facility until such time as we reach profitability. The credit facility is due upon demand and therefore there can be no assurances that sufficient borrowings will be available to support future operations until profitability is reached. Our collection period is less than 30 days and can also be used to meet accrued obligations. We believe our current cash position and credit facility will be sufficient to sustain operations for at least the next twelve months from the date of this filing. If our plan to grow the IntentKey product is unsuccessful, we may need to fund operations through private or public sales of securities, debt financings or partnering/licensing transactions over the long term.
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Cash Flows
The table below sets forth a summary of our cash flows for the nine months ended September 30, 2024 and 2023:
|
| For the Nine Months Ended September 30, |
| |||||
|
| 2024 |
|
| 2023 |
| ||
Net cash used in operating activities |
| $ | (100,345 | ) |
| $ | (457,716 | ) |
Net cash provided by/(used in) investing activities |
| $ | (1,409,762 | ) |
| $ | 1,029,656 |
|
Net cash provided by/(used in) financing activities |
| $ | (343,526 | ) |
| $ | 3,475,126 |
|
Cash Flows - Operating
Net cash used in operating activities was $100,345 during the nine months ended September 30, 2024. We reported a net loss of $5,903,142, which included non-cash expenses of depreciation and amortization expense of $1,951,196, depreciation of right of use assets of $48,317, stock-based compensation expense of $1,087,533, and $800,000 for the impairment and amortization of a referral and support services agreement. The change in operating assets and liabilities during the nine months ended September 30, 2024 was a net provision of cash of $4,185,284 primarily due to a decrease of $1,899,029 in accounts receivable and an increase of accrued and other liabilities of $940,076. Our terms are such that we generally collect receivables prior to paying trade payables. However, our Media sales arrangements typically have slower payment terms than the terms of related payables.
During the comparable nine-month period in 2023, cash used in operating activities was $457,716 from a net loss of $7,988,323 and included several non-cash expenses of depreciation and amortization expense of $1,984,139 and stock-based compensation expense of $1,471,683. The change in operating assets and liabilities during the nine months ended September 30, 2023, was a net provision of cash of $3,265,938.
Cash Flows - Investing
Net cash used in investing activities was $1,409,762 for the nine months ended September 30, 2024, and consisted primarily of capitalized internal development costs.
Net cash provided by investing activities was $1,029,656 for the nine months ended September 30, 2023, and consisted primarily of the sale of marketable securities, partially offset by capitalized internal development costs.
Cash Flows - Financing
Net cash used in financing activities was $343,526 during the nine months ended September 30, 2024, and was primarily due to taxes paid on restricted stock unit grants exercised.
Net cash provided by financing activities during the nine months ended September 30, 2023 was $3,475,126 and was primarily from proceeds from the capital raise (see Note 1 - Organization and Business of our Consolidated Financial Statements).
Off Balance Sheet Arrangements
As of September 30, 2024, we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors. The term "off-balance sheet arrangement" generally means any transaction, agreement or other contractual arrangement to which an entity unconsolidated with us is a party, under which we have any obligation arising under a guarantee contract, derivative instrument or variable interest or a retained or contingent interest in assets transferred to such entity or similar arrangement that serves as credit, liquidity or market risk support for such assets.
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ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.
Not applicable to a smaller reporting company.
ITEM 4. CONTROLS AND PROCEDURES.
Evaluation of Disclosure Controls and Procedures
We maintain “disclosure controls and procedures” as such term is defined in Rule 13a-15(e) under the Securities Exchange Act of 1934. Disclosure controls and procedures are controls and procedures designed to reasonably assure that information required to be disclosed in our reports filed under the Securities Exchange Act of 1934, such as this report, is recorded, processed, summarized and reported within the time periods prescribed by SEC rules and regulations, and to reasonably assure that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.
Our management does not expect that our disclosure controls will prevent all errors and fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. In addition, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within a company have been detected. These inherent limitations include the realities that judgments in decision-making can be faulty, and that breakdowns can occur because of simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people or by management override of the control. The design of any systems of controls also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Over time, controls may become inadequate because of changes in conditions, or the degree of compliance with the policies or procedures may deteriorate. Because of these inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and not be detected.
As required by Rule 13a-15 under the Securities Exchange Act of 1934, as of September 30, 2024, the end of the period covered by this report, our management concluded their evaluation of the effectiveness of the design and operation of our disclosure controls and procedures. As of the evaluation date, our Chief Executive Officer and Chief Financial Officer concluded that we maintain disclosure controls and procedures that are effective in providing reasonable assurance that information required to be disclosed in our reports under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods prescribed by SEC rules and regulations, and that such information is accumulated and communicated to our management to allow timely decisions regarding required disclosure.
Changes in Internal Control over Financial Reporting
There were no changes in our internal control over financial reporting during the quarter ended September 30, 2024 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
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PART II
Item 1 - LEGAL PROCEEDINGS
None.
ITEM 1A. RISK FACTORS-UPDATE
We desire to take advantage of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Accordingly, we incorporate by reference the risk factors disclosed in Part I, Item 1A of our Form 10-K for the year ended December 31, 2023, as filed with the SEC on February 29, 2024 and our subsequent filings with the SEC, subject to the new or modified risk factors appearing below that should be read in conjunction with the risk factors disclosed in such Form 10-K and our subsequent filings.
We rely on one customer for a significant portion of our revenues. We are reliant upon one customer for most of our revenue. For the three-month period ending September 30, 2024, one Platform customer accounted for 79.9% of our overall revenue, and for the nine-month period ended September 30, 2024, 76.5% of our overall revenue. The amount of revenue we receive from this customer is dependent on a number of factors outside of our control, including changes in the respective customers advertising budget, both in terms of allocated dollars and media mix, financial resources of the customers, as well as general economic conditions. We would likely experience a significant decline in revenue and our business operations could be significantly harmed if these customers do not continue to utilize our services. Additionally, our business operations and financial condition could be significantly harmed if these customers do not pay for our services on a timely basis. The loss of any of these customers or a material change in the revenue or gross profit they generate or their failure to timely pay us for our services would have a material adverse impact on our business, results of operations and financial condition in future periods.
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.
None.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES.
None.
ITEM 4. MINE SAFETY AND DISCLOSURES.
Not applicable.
ITEM 5. OTHER INFORMATION.
Trading Plans
During the three months ended September 30, 2024, no director or officer (as defined in Rule 16a-1(f) under the Exchange Act) of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.
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ITEM 6. EXHIBITS
No. |
| Exhibit Description |
| Form |
| Date Filed |
| Number |
| Filed or Furnished Herewith |
|
| 10-KSB |
| 3/1/04 |
| 4 |
|
| ||
|
| 10-KSB |
| 3/31/06 |
| 3.2 |
|
| ||
|
| 8-K |
| 7/24/09 |
| 3.4 |
|
| ||
|
| 8-K |
| 12/10/10 |
| 3(i).4 |
|
| ||
| Certificate of Merger as filed with the Secretary of State of Nevada on February 29, 2012 |
| 10-K |
| 3/29/12 |
| 3(i).5 |
|
| |
| Articles of Amendment to Amended Articles of Incorporation as filed on February 29, 2012 |
| 10-K |
| 3/29/12 |
| 3(i).6 |
|
| |
| Articles of Amendment to Amended Articles of Incorporation as filed on October 31, 2019 |
| 10-Q |
| 5/15/20 |
| 3(i).7 |
|
| |
| 10-Q |
| 11/9/20 |
| 3(i).8 |
|
| |||
| Articles of Amendment to Articles of Incorporation as filed January 7, 2021 |
| 10-K |
| 2/11/21 |
| 3(i).9 |
|
| |
| Articles of Amendment to Articles of Incorporation as filed on August 19, 2021 |
| 10-Q |
| 11/12/21 |
| 3(i).10 |
|
| |
|
| 10-K |
| 3/31/10 |
| 3(ii).4 |
|
| ||
|
| 8-K |
| 3/6/12 |
| 3(ii).1 |
|
| ||
|
| 8-K |
| 8/1/24 |
| 10.1 |
|
| ||
| Rule 13a-14(a)/15d-14(a) certification of Chief Executive Officer |
|
|
|
|
|
|
| Filed | |
| Rule 13a-14(a)/15d-14(a) certification of Chief Financial Officer |
|
|
|
|
|
|
| Filed | |
|
|
|
|
|
|
|
| Furnished | ||
|
|
|
|
|
|
|
| Furnished | ||
101.INS |
| Inline XBRL Instance Document |
|
|
|
|
|
|
| Filed |
101.SCH |
| Inline XBRL Taxonomy Extension Schema Document |
|
|
|
|
|
|
| Filed |
101.CAL |
| Inline XBRL Taxonomy Extension Calculation Linkbase Document |
|
|
|
|
|
|
| Filed |
101.DEF |
| Inline XBRL Taxonomy Extension Definition Linkbase Document |
|
|
|
|
|
|
| Filed |
101.LAB |
| Inline XBRL Taxonomy Extension Label Linkbase Document |
|
|
|
|
|
|
| Filed |
101.PRE |
| Inline XBRL Taxonomy Extension Presentation Linkbase Document |
|
|
|
|
|
|
| Filed |
101.PRE |
| Inline XBRL Taxonomy Extension Presentation Linkbase Document |
|
|
|
|
|
|
| Filed |
104 |
| The cover page for Inuvo, Inc.’s quarterly report on Form 10-Q for the period ended September 30, 2024, formatted in Inline XBRL (included with Exhibit 101 attachments). |
|
|
|
|
|
|
| Filed |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Inuvo, Inc. |
| |
|
|
|
|
November 8, 2024 | By: | /s/ Richard K. Howe |
|
|
| Richard K. Howe, |
|
|
| Chief Executive Officer, principal executive officer |
|
|
|
|
|
November 8, 2024 | By: | /s/ Wallace D. Ruiz |
|
|
| Wallace D. Ruiz, |
|
|
| Chief Financial Officer, principal financial and accounting officer |
|
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