Business Combination and Acquisitions - ConnectM Technology Solutions, Inc. completed its business combination on July 12, 2024, with an exchange ratio of 3.3213477 for Legacy ConnectM common stock[228]. - The company issued a total of 14,422,449 shares of common stock to Legacy ConnectM stockholders at the closing of the business combination[229]. - ConnectM acquired 46% of DeliveryCircle's equity interests and 57% of its voting interests for $0.5 million plus contingent consideration based on revenue growth and EBITDA[232][233]. - The contingent consideration is estimated at approximately $0.6 million, based on a Monte Carlo simulation[233]. - The base amount for contingent payments starts at $355,000 for the year 2024 and increases annually, reaching $924,525 by 2030[236]. - The Company has a five-year non-competition and non-solicitation covenant with the seller of DeliveryCircle[243]. - The company plans to acquire DeliveryCircle for $0.5 million plus contingent consideration of $0.6 million[369][371]. Financial Performance - The Company reported revenues of $19,972,000 for the year ended December 31, 2023, compared to $15,441,000 for the year ended December 31, 2022, representing a 29% increase[259]. - For the nine months ended September 30, 2024, the Company generated revenues of $17,299,000, up from $15,484,000 for the same period in 2023, indicating an increase of 12%[257]. - Revenue for the three months ended September 30, 2024 increased by approximately $1.7 million, or 39%, to $6.1 million compared to $4.4 million for the same period in 2023[277]. - Revenue for the nine months ended September 30, 2024 increased by approximately $1.8 million, or 12%, to $17.3 million compared to $15.5 million for the same period in 2023[278]. - Revenue for the year ended December 31, 2023 increased by approximately $4.5 million, or 29%, to $20.0 million compared to $15.4 million for the year ended December 31, 2022[279]. - The net loss for the nine months ended September 30, 2024, was $16,998,000, compared to a net loss of $5,032,000 for the same period in 2023, reflecting a significant increase in losses[257]. - The Company reported a loss from operations of $7,465,000 for the year ended December 31, 2023, compared to a loss of $3,867,000 for the year ended December 31, 2022[259]. - The net loss for the year ended December 31, 2023 was $9.2 million, compared to a net loss of $3.5 million in 2022[355][356]. Expenses and Costs - The Company incurred selling, general, and administrative expenses of $12,320,000 for the year ended December 31, 2023, compared to $7,315,000 for the year ended December 31, 2022, marking a 68% increase[259]. - Selling, general and administrative expenses increased by $5.0 million, or 68%, to $12.3 million for the year ended December 31, 2023, from $7.3 million for the year ended December 31, 2022[302]. - Selling, general and administrative expenses for the nine months ended September 30, 2024, increased by $3.0 million, or 34%, to $11.8 million from $8.8 million for the same period in 2023[301]. - Interest expense increased by $1.1 million to $1.4 million for the year ended December 31, 2023, from $0.3 million for the year ended December 31, 2022[307]. - The Company expects operating costs to increase in the foreseeable future due to expansion efforts and investments in operations[267]. - The Company anticipates an increase in selling, general, and administrative expenses as it scales headcount and complies with public company regulations[269]. Cash Flow and Financing - The Company raised $3.5 million in net cash from financing activities for the nine months ended September 30, 2024, primarily from proceeds of $80.1 million from a business acquisition[353]. - The Company has an accumulated deficit of $39.9 million as of September 30, 2024[343]. - The Company has a working capital deficit totaling $31.2 million as of September 30, 2024[343]. - The Company converted $2,652,250 of promissory notes into 1,326,125 shares of common stock at a conversion price of $2.00 per share as part of a Note Conversion Agreement[254]. - The total amount outstanding under secured promissory note agreements as of September 30, 2024, was $11.3 million, up from $7.4 million as of December 31, 2023[322]. - The company issued $9.0 million in long-term debt facilities during 2023, contributing significantly to financing activities[359]. - The company issued an additional $5.5 million of secured promissory notes during 2023, with interest rates ranging from 18% to 24%[319]. - During the nine months ended September 30, 2024, the company issued fourteen additional secured promissory notes totaling $4.1 million, accruing interest at 24%[320]. Market and Compliance - The Company has been notified by Nasdaq that it failed to meet the $50,000,000 market value of listed securities requirement for continued listing, with a compliance period until March 3, 2025[251][252]. - Management has concluded there is substantial doubt about the Company's ability to continue as a going concern within one year after the date the financial statements are issued[345]. Operational Insights - The Company generated non-operating income from dividends and interest on marketable securities held in the Trust Account prior to the closing of the Business Combination[255]. - The Company expects a large portion of future revenue increases to be attributable to its growing managed services business[279]. - The increase in revenues was primarily driven by the Company's new managed services offering and OEM/EV segment, while declines were noted in the electrification and decarbonization segments due to inclement weather[277][278]. - The Company experienced incremental cost of revenues of $0.4 million associated with its Managed Services, which did not exist in 2022[284]. - Gross margin for the Managed Services segment increased approximately $0.6 million, or 3,981%, for the three months ended September 30, 2024, indicating significant growth potential[288]. - Gross margin for the Decarbonization segment decreased approximately $1.1 million, or 41%, to $1.6 million for the nine months ended September 30, 2024 compared to $2.8 million for the same period in 2023[290]. - Gross margin for the Electrification segment decreased by $0.3 million, or 11%, to $2.2 million for the year ended December 31, 2023 compared to $2.5 million for the year ended December 31, 2022[294]. - Gross margin for the Decarbonization segment increased by approximately $1.5 million, or 101%, to $3.0 million for the year ended December 31, 2023, from $1.5 million for the year ended December 31, 2022[296]. - Gross margin for the OEM/EV segment decreased by approximately $0.4 million to $(0.4) million for the year ended December 31, 2023, from $14 thousand for the year ended December 31, 2022[297]. - Gross margin for the Managed Services segment was approximately $0.2 million for the year ended December 31, 2023, with expectations for significant future growth[298].

MARLBOROUGH, Mass., Dec. 12, 2024 (GLOBE NEWSWIRE) -- ConnectM Technology Solutions, Inc. (Nasdaq: CNTM) ("ConnectM" or the "Company"), a technology company focused on the electrification economy, today announced that on December 6, 2024, it received a notice from the staff of the Listing Qualifications Department of Nasdaq stating that because the Company had not filed its Quarterly Report on Form 10-Q for the period ended September 30, 2024 (the "Filing"), it no longer complies with Nasdaq Listing Rule 52 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Delaware (State or other jurisdiction of incorporation) 001-41389 (Commission File Number) 87-2898342 (I.R.S. Employer Identification Number) Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock, par value $0.0001 per share CNTM The Nasdaq Stock Market LLC FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) ...

~ Third Quarter Revenue Increased 36% to $6.1 million YoY~ ~ Revenues For The Nine Months Increased 11% to $17.3 million ~ ~ FY2024 On-Track to Deliver Revenue of North of $24.0 million, an Increase of 20% YoY ~ ~ On Track to Achieve Operating Cash Flow Breakeven in The First Quarter of 2025~ MARLBOROUGH, Mass., Nov. 19, 2024 (GLOBE NEWSWIRE) -- ConnectM Technology Solutions, Inc. (Nasdaq: CNTM) (“ConnectM” or the “Company”), a technology company focused on the electrification economy, today announced preli ...

[Form 8-K Current Report](index=1&type=section&id=Form%208-K%20Current%20Report) This report details the disclosure of financial results, investor communications, and a list of exhibits filed by ConnectM Technology Solutions, Inc - Company: **ConnectM Technology Solutions, Inc.**[1](index=1&type=chunk) - Stock Ticker: **CNTM**[2](index=2&type=chunk) - Exchange: **The Nasdaq Global Market**[2](index=2&type=chunk) - Report Date: **August 22, 2024**[1](index=1&type=chunk) [Results of Operations and Financial Condition](index=1&type=section&id=Item%202.02%20Results%20of%20Operations%20and%20Financial%20Condition) Financial results and condition information is incorporated by reference from Item 7.01 disclosures - The disclosure of financial results is handled by incorporating the information from Item 7.01[3](index=3&type=chunk) [Regulation FD Disclosure](index=2&type=section&id=Item%207.01%20Regulation%20FD%20Disclosure) ConnectM Technology Solutions, Inc. published an investor presentation and press release on August 22, 2024, furnished as exhibits but not considered "filed" under the Exchange Act - An investor presentation (Exhibit 99.1) and a press release (Exhibit 99.2) were published on the company's investor relations website on August 22, 2024[4](index=4&type=chunk) - The furnished information is not deemed 'filed' for the purposes of Section 18 of the Exchange Act, limiting legal liability under that section[5](index=5&type=chunk) [Financial Statements and Exhibits](index=2&type=section&id=Item%209.01%20Financial%20Statements%20and%20Exhibits) This section enumerates the exhibits accompanying the Form 8-K, including the investor presentation, press release, and interactive data file List of Exhibits | Exhibit Number | Description | | :--- | :--- | | 99.1 | Investor Presentation August 2024 | | 99.2 | Press Release dated August 22, 2024 | | 104 | Cover Page Interactive Data File (embedded with the Inline XBRL document) |

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41389 ConnectM Technology Solutions, Inc. (Exact name of registrant as specified in its charter) | --- | |------------------ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Monterey Capital Acquisition Corporation (Exact name of registrant as specified in its charter) | --- | --- | --- | |------------------------------- ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Monterey Capital Acquisition Corporation (Exact name of registrant as specified in its charter) Registrant's telephone number, including area code: (831) ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Monterey Capital Acquisition Corporation (Exact name of registrant as specified in its charter) | --- | --- | --- | |--------------------------- ...

[Part I: Financial Information](index=2&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This section presents the company's unaudited financial statements, management's analysis, market risk, and internal controls [Unaudited Condensed Consolidated Financial Statements](index=2&type=section&id=Item%201.%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements.) The SPAC reported a net loss for H1 2023, primarily due to a Forward Purchase Agreement liability, with substantial doubt about its going concern ability [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Condensed Consolidated Balance Sheet Highlights (Unaudited) | Account | June 30, 2023 ($) | December 31, 2022 ($) | | :--- | :--- | :--- | | **Assets** | | | | Cash | $214,623 | $5,938 | | Marketable securities held in trust account | $96,758,886 | $94,209,804 | | **Total Assets** | **$97,095,886** | **$94,222,525** | | **Liabilities & Stockholders' Deficit** | | | | Total current liabilities | $4,582,589 | $2,058,448 | | Forward Purchase Agreement Liability | $8,870,000 | $2,770,000 | | **Total Liabilities** | **$17,132,589** | **$8,508,448** | | **Total Stockholders' Deficit** | **($16,324,322)** | **($8,054,560)** | - As of June 30, 2023, **9,200,000 shares of Class A common stock** were subject to possible redemption, valued at **$96,287,619**[7](index=7&type=chunk) [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Condensed Consolidated Statements of Operations (Unaudited) | Metric | Six Months Ended June 30, 2023 ($) | Six Months Ended June 30, 2022 ($) | | :--- | :--- | :--- | | General and administrative expenses | ($1,352,965) | ($542,902) | | Dividend and interest income | $2,134,285 | $85,018 | | Loss on change in fair value of Forward Purchase Agreement Liability | ($6,100,000) | $0 | | **Net Loss** | **($5,750,780)** | **($488,100)** | | **Basic and diluted net loss per share, Class A** | **($0.49)** | **($0.11)** | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Condensed Consolidated Statements of Cash Flows Highlights (Unaudited) | Activity | Six Months Ended June 30, 2023 ($) | Six Months Ended June 30, 2022 ($) | | :--- | :--- | :--- | | Net cash used in operating activities | ($618,518) | ($293,229) | | Net cash used in investing activities | ($414,797) | ($92,920,000) | | Net cash provided by financing activities | $1,242,000 | $93,426,015 | | **Net Change in Cash** | **$208,685** | **$212,786** | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) - The company is a blank check company that entered into a merger agreement with ConnectM Technology Solutions, Inc. on December 31, 2022[19](index=19&type=chunk)[20](index=20&type=chunk) - Management has substantial doubt about the Company's ability to continue as a going concern, as it may be required to dissolve as early as **November 13, 2023**, if a business combination is not completed[61](index=61&type=chunk) - The Forward Purchase Agreement liability, a derivative instrument, was valued at **$8.87 million** as of June 30, 2023, using Level 3 inputs. The change in fair value resulted in a **$6.1 million loss** for the first six months of 2023[90](index=90&type=chunk)[93](index=93&type=chunk) - As of June 30, 2023, the company had **$579,000** in outstanding Working Capital Loans from its Sponsor, which are convertible into warrants[110](index=110&type=chunk) - Subsequent to the quarter end, on August 11, 2023, the company extended its business combination deadline to **November 13, 2023**, funded by a **$920,000 deposit** from the merger target, ConnectM[136](index=136&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=37&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) Management discusses the company's blank check status, pending merger, and a **$3.77 million working capital deficit**, reiterating substantial doubt about its going concern ability - The company is a blank check company formed to effect a business combination and has entered into a merger agreement with ConnectM Technology Solutions, Inc.[142](index=142&type=chunk)[150](index=150&type=chunk) - As of June 30, 2023, the company had cash of **$214,623** and a working capital deficit of **$3,774,322**, raising substantial doubt about its ability to continue as a going concern[151](index=151&type=chunk)[156](index=156&type=chunk) Results of Operations Summary (Unaudited) | Metric | Six Months Ended June 30, 2023 ($) | Six Months Ended June 30, 2022 ($) | | :--- | :--- | :--- | | Net Loss | ($5,750,780) | ($488,100) | | Key Drivers of Loss | G&A expenses, Loss on change in fair value of Forward Purchase Agreement liability | Formation and G&A costs | | Offsetting Income | $2,134,285 in dividend and interest income | $85,018 in dividend and interest income | - The company has a commitment to pay **$3.68 million** in deferred underwriting commissions, contingent upon the completion of a business combination[163](index=163&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=48&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is a smaller reporting company and is not required to provide the information for this item - As a smaller reporting company defined by Rule 12b-2 of the Exchange Act, the company is not required to provide the information otherwise required under this item[184](index=184&type=chunk) [Controls and Procedures](index=49&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were not effective as of June 30, 2023, due to material weaknesses in accounting for complex financial instruments and cash disbursements - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were not effective as of **June 30, 2023**[186](index=186&type=chunk) - Material weaknesses were identified related to the accounting for complex financial instruments, completeness and accuracy of financial data, and the review and approval of cash disbursements[186](index=186&type=chunk)[188](index=188&type=chunk)[189](index=189&type=chunk) - In a specific control failure, **$87,377** of funds withdrawn from the Trust Account for tax payments were inadvertently used for general operating expenses, later replenished by the merger target, ConnectM[190](index=190&type=chunk) - The company has implemented and is continuing to implement remediation efforts, including additional review procedures for legal agreements, financial data, and cash oversight, and is utilizing outside advisors for complex accounting matters[191](index=191&type=chunk)[192](index=192&type=chunk) [Part II: Other Information](index=51&type=section&id=PART%20II-OTHER%20INFORMATION) This section covers legal proceedings, risk factors, equity sales, other information, and exhibits [Legal Proceedings](index=51&type=section&id=Item%201.%20Legal%20Proceedings) The company reports no legal proceedings - There are no legal proceedings to report[195](index=195&type=chunk) [Risk Factors](index=51&type=section&id=Item%201A.Risk%20Factors) As a smaller reporting company, the company is not required to provide the information for this item - The Company is a "smaller reporting company" and is not required to provide the information required by this Item[195](index=195&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=51&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reports no unregistered sales of equity securities or use of proceeds for this period - None reported[195](index=195&type=chunk) [Other Information](index=51&type=section&id=Item%205.%20Other%20Information) The company reports no other information - None reported[195](index=195&type=chunk) [Exhibits](index=52&type=section&id=Item%206.%20Exhibits.) This section lists the exhibits filed with the report, including officer certifications and XBRL interactive data files - The report includes certifications from the Principal Executive Officer and Principal Financial Officer as required by Section 302 and Section 906 of the Sarbanes-Oxley Act of 2002[197](index=197&type=chunk) - XBRL Instance Document and related taxonomy files are included as exhibits[197](index=197&type=chunk) [Signatures](index=53&type=section&id=SIGNATURES) The report was duly signed and authorized by the Chief Executive Officer and Principal Financial Officer on August 23, 2023 - The report was duly signed and authorized on **August 23, 2023**, by Bala Padmakumar, Chief Executive Officer, and Daniel Davis, who is also listed with the title of Chief Executive Officer (Principal Financial Officer)[199](index=199&type=chunk)