Financial Data and Key Metrics Changes - Total revenue for Q3 2021 increased by 26% to $3.2 million compared to $2.5 million in Q3 2020 [18] - Adjusted EBITDA for Q3 2021 was $538,000, marking the sixth consecutive positive quarter and exceeding $300,000 for the fifth consecutive quarter [12][30] - Net income for Q3 2021 was $296,000, up from $156,000 in the same period last year [30] Business Line Data and Key Metrics Changes - Software revenue increased by 9% to $59,000 in Q3 2021 from $54,000 in Q3 2020 [20] - Recurring revenue, which includes SaaS and software maintenance, grew by 11% to $689,000 from $622,000 year-over-year, with SaaS growing at 25% [21][22] - Professional services revenue surged by 34% to $2.2 million, accounting for 68% of total revenue, up from 64% in the same period last year [24] Market Data and Key Metrics Changes - Storage and retrieval services revenue increased by 17% to $259,000 in Q3 2021 compared to $220,000 in Q3 2020 [26] - The company noted a shift in customer preferences from on-premise solutions to cloud solutions, impacting software maintenance revenue negatively by 1% [22] Company Strategy and Development Direction - The company has transitioned to a new warehouse facility in Michigan, increasing capacity while maintaining operating costs [8] - Plans to expand the sales team and enhance marketing initiatives to support growth in key markets and verticals [10] - The business process outsourcing (BPO) service is expected to provide a recurring revenue stream and is a focus for future growth [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's trajectory, highlighting a strong pipeline and the ability to meet sales goals for six consecutive quarters [17] - The management team is focused on filling backlogs and ensuring continuous revenue flow from existing and new projects [39] - The company maintains its prior guidance for 2021, expecting to build on positive adjusted EBITDA while driving revenue growth [32] Other Important Information - The company has successfully integrated acquisitions made in early 2020, contributing to revenue stability and growth [12] - Operating expenses increased by 24% to $1.5 million, reflecting higher revenue and expanded sales and marketing efforts [28] Q&A Session Summary Question: Were there any one-time projects that boosted professional services revenue? - Management indicated that while there are always one-time projects, the majority of professional services revenue comes from ongoing contracts, particularly in document conversion [35][36] Question: What are the hiring plans for the sales team? - The company is actively hiring, with plans to add more sales representatives in the coming months to support growth and cross-selling initiatives [40][41] Question: What impact has the new Director of Marketing had on operations? - The Director has successfully integrated the company's websites and is ramping up marketing campaigns, leading to increased website traffic and service inquiries [43][44] Question: What is the pipeline for SaaS in school districts? - The company has a strong partnership with Software Unlimited, which continues to deliver new customers, contributing significantly to revenue [45][46] Question: How much revenue is anticipated from existing customers through cross-selling? - Management expects a meaningful amount of revenue from existing customers, although specific quantifiable numbers were not provided [49]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Former name and former address, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | --- | --- | --- | | None. | N/A | N/A | For the Quarterly Period Ended September 30, 2021 ☐ TRANSITION REPORT PURSUA ...

Financial Performance - Revenues for Q2 2021 were $2,909,646, representing a 58% year-over-year growth, while revenues for the six-month period were $5,544,865, reflecting an 82% increase year-over-year [141]. - The Document Management segment generated $791,004 in Q2 2021 and $1,526,822 for the six-month period, while the Document Conversion segment contributed $2,118,642 in Q2 2021 and $4,018,043 for the six-month period [142]. - Software as a Service (SaaS) revenues increased by $127,461, or 51%, in Q2 2021 compared to Q2 2020, and by $225,093, or 47%, for the six-month period [145]. - The company reported a net income of $192,447 for Q2 2021, with basic and diluted net income per share of $0.07 and $0.06, respectively [141]. - Professional services revenues increased by $852,101, or 81%, in Q2 2021 compared to Q2 2020, and increased by $1,944,534, or 121%, in the six-month period 2021 compared to the same period in 2020 [147]. - Storage and retrieval services revenues increased by $77,016, or 35%, in Q2 2021 compared to Q1 2020, and increased by $313,709, or 108%, during the six-month period 2021 compared to the same period in 2020 [148]. - Total cost of revenues increased by $430,790, or 65%, in Q2 2021 compared to Q2 2020, and increased by $992,685, or 88%, during the six-month period 2021 compared to the same period in 2020 [150]. - Overall gross profit decreased to 62% in Q2 2021 from 63% in Q2 2020, and decreased to 62% for the six-month period 2021 from 63% during the same period in 2020 [151]. Expenses and Cash Flow - General and administrative expenses increased by $213,404, or 25%, in Q2 2021 compared to Q2 2020, and increased by $408,227, or 24%, in the six-month period 2021 compared to the same period in 2020 [159]. - Sales and marketing expenses increased by $111,722, or 49%, in Q2 2021 compared to Q2 2020, and increased by $158,344, or 33%, during the six-month period 2021 compared to the same period in 2020 [162]. - Operating cash flow for the six-month period 2021 was $587,120, with capital expenditures amounting to $399,638 [141]. - Net cash provided by operating activities during the first half of 2021 was $587,120, compared to a net cash used of $132,287 in the same period of 2020 [174]. - Net cash used in investing activities in the first half of 2021 was $399,638, primarily for purchases related to the new warehouse, compared to $4,039,743 in the same period of 2020 for acquisitions [175]. - Net cash used by financing activities during the first half of 2021 amounted to $954,733 due to earnout liabilities payments, compared to $5,644,681 provided in the same period of 2020 [176]. Debt and Capital Resources - The company reported a gain on extinguishment of debt of $845,083 during the six-month period 2021, reflecting the full forgiveness of the principal and interest on the PPP Note [164]. - Interest expense decreased by $3,525, or 3%, in Q2 2021 compared to Q2 2020, and decreased by $180,911, or 44% during the first half of 2021 compared to the same period in 2020 [166]. - The company reduced its outstanding debt by approximately $3 million during 2020 and has not incurred any new debt in 2021 [168]. - The only outstanding long-term indebtedness as of June 30, 2021, consisted of $2,000,000 in 2020 notes with no accrued interest [171]. - The company expects its capital resources will be sufficient to meet anticipated cash needs for at least the next 12 months [170]. - The company committed to purchase warehouse racking for $351,854 during the first half of 2021, with $300,276 purchased as of June 30, 2021 [172]. - The company received aggregate gross proceeds of $3.5 million from a private placement of common stock [173]. Employee and Operational Impact - The company had 115 employees as of June 30, 2021, including 10 part-time employees [141]. - The majority of employees in Ohio continue to work remotely, affecting client operations across various states [137]. - The impact of COVID-19 resulted in an estimated $655,000 reduction in revenue for the Document Conversion segment in Q2 2020 [142]. - The company expects continued weakened demand due to reduced governmental and small-business spending amid economic uncertainty [137]. - The acquisition of Graphic Sciences accounted for $1,843,221 of revenues in Q1 2021, compared to $556,254 in Q1 2020, constituting 91% of the revenue increase [142]. - Income tax benefit was $0 during the six-month period 2021 compared to $188,300 during the same period in 2020 [165].

Revenue Growth - Revenues for Q1 2021 were $2,635,219, representing a 117% year-over-year growth[143]. - Document Management segment revenues were $735,818, while Document Conversion segment revenues were $1,899,401 for Q1 2021[145]. - Professional services revenues increased by $1,092,434, or 195%, in Q1 2021 compared to Q1 2020, largely due to the acquisition of Graphic Sciences[149]. - Storage and retrieval services revenues saw a significant increase of $236,692, or 327%, in Q1 2021 compared to Q1 2020[150]. - The acquisition of Graphic Sciences accounted for $1,843,221 of total revenues in Q1 2021, contributing 91% to the revenue increase[145]. - Software as a service revenues increased by $97,732, or 43%, in Q1 2021 compared to Q1 2020, driven by customer preference for cloud-based solutions[147]. Profitability and Income - Net income for Q1 2021 was $842,772, with basic and diluted net income per share of $0.30[143]. - Overall gross margin increased to 77% in Q1 2021 from 69% in Q1 2020, excluding Graphic Sciences, driven by a favorable product mix[152]. - Gross margin for software as a service (SaaS) increased to 76% in Q1 2021 from 68% in Q1 2020, due to improved implementation efficiencies[154]. Expenses and Costs - Total cost of revenues increased by $582,776, or 130%, in Q1 2021 compared to Q1 2020, primarily due to the acquisition of Graphic Sciences[151]. - Cost of professional services rose by $559,733, or 204%, in Q1 2021 compared to Q1 2020, mainly due to the acquisition of Graphic Sciences[156]. - General and administrative expenses increased by $173,941, or 20%, in Q1 2021, largely reflecting the addition of Graphic Sciences expenses[159]. - Cost of storage and retrieval services increased by $75,411, or 480%, in Q1 2021 compared to Q1 2020, attributed to the full inclusion of Graphic Sciences services[157]. Cash Flow and Financial Position - Operating cash flow for Q1 2021 was $326,869, while capital expenditures were $231,699[143]. - Net cash provided by operating activities was $326,869 in Q1 2021, compared to a net cash used of $143,951 in Q1 2020[174]. - Net cash used in investing activities was $231,699 in Q1 2021, significantly lower than $3,896,726 in Q1 2020, which was primarily for acquiring Graphic Sciences[175]. - Cash and cash equivalents as of March 31, 2021, were $2,003,052, with net working capital of $455,067[167]. Debt and Financing - The company received full forgiveness of a PPP loan amounting to $838,700 on January 20, 2021[136]. - Interest expense decreased by $177,386, or 61%, in Q1 2021 compared to Q1 2020, due to lower net debt[166]. Workforce - As of March 31, 2021, the company had 100 employees, including 10 part-time employees[144].

Revenue Sources - The company's two largest clients accounted for approximately 47% and 8% of total revenues for the twelve months ending December 31, 2020[89]. - Government contracts represented approximately 64% of net revenues for the twelve months ended December 31, 2020, compared to 41% in 2019[89]. - A significant portion of revenue is recognized ratably over the terms of subscription agreements, typically one year, which may delay the impact of downturns in business[90]. Risks and Compliance - The company faces risks related to early termination and audits of government contracts, which could materially affect business operations[91]. - Compliance with federal securities laws results in higher expenses compared to similarly-sized private companies, impacting growth potential[92]. - Security breaches could lead to loss of confidential information and significant liabilities, affecting reputation and business[94]. - The company may face increased costs and operational disruptions due to potential intellectual property infringement claims[100]. Stock and Market Conditions - The common stock is quoted on the OTCQB, leading to limited trading and higher volatility compared to national exchanges[104]. - The market price of common stock may adversely affect the company's ability to attract and retain high-quality employees[105]. - Substantial sales of common stock by stockholders may negatively impact the market price of the company's shares[107]. - The company's common stock is currently subject to "penny stock" rules, making transactions more cumbersome and potentially reducing liquidity[111]. - The company does not expect to pay any dividends for the foreseeable future, as it plans to retain earnings to maintain and expand operations[114]. - Market fluctuations could lead to extreme volatility in the stock price, potentially resulting in securities litigation against the company[110]. - The company may experience difficulties in raising capital due to stock price volatility and credit market conditions[116]. - FINRA sales practice requirements may limit the ability of shareholders to buy and sell the company's stock, adversely affecting market conditions[112]. Operational Challenges - Global economic conditions, particularly due to COVID-19, are expected to adversely impact the business, leading to potential delays in technology purchases and increased price competition[115]. - The company is vulnerable to disruptions at third-party data centers, which could harm service availability and customer satisfaction[117]. - There is a risk of not being able to attract and retain top employees, which is critical for the company's competitive position[122]. - The company relies on the stability of infrastructure software, and weaknesses in this area could negatively impact product effectiveness and reliability[123]. - The company faces challenges in protecting its intellectual property, which is essential for maintaining its competitive edge[125].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2020 [ ] 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: 000-31671 INTELLINETICS, INC. (Exact name of registrant as specified in its cha ...

Revenue Growth - Revenues for the six months ended June 30, 2020, were $3,049,846, representing a growth of 164% year over year [197]. - For the three months ended June 30, 2020, revenues were $1,836,182, an increase of $1,195,574 or 187% compared to the same period in 2019 [198]. - The acquisition of Graphic Sciences accounted for $1,748,418 of total sales, representing 92% of the revenue increase for the six months ended June 30, 2020 [198]. - Revenues from software sales for the six months ended June 30, 2020, were $103,774, an increase of 1,072% compared to $8,852 in the same period of 2019 [199]. - Software as a Service revenues increased to $248,693 for Q2 2020, up 8% from $229,982 in Q2 2019 [200]. - Software maintenance support revenue rose to $314,111 for Q2 2020, reflecting a 24% increase from $252,713 in Q2 2019 [201]. - Professional services revenues surged to $1,045,679 for Q2 2020, a significant increase of 593% compared to $150,811 in Q2 2019, largely due to the acquisition of Graphic Sciences [202]. Cost and Expenses - Operating cash deficit was $132,287 as of June 30, 2020 [197]. - The company experienced a loss from operations of $997,067 for the six months ended June 30, 2020 [197]. - Total costs of revenue for Q2 2020 were $664,789, an increase of 411% from $130,104 in Q2 2019, primarily driven by the Graphic Sciences acquisition [204]. - General and administrative expenses for Q2 2020 were $844,657, up 62% from $521,057 in Q2 2019, mainly due to the addition of Graphic Sciences expenses [216]. - Significant transaction expenses amounted to $175,673 for Q2 2020, compared to $0 in Q2 2019, related to investment banking and legal fees [217]. - Overall gross margin for Q2 2020 decreased to 64% from 80% in Q2 2019, reflecting the impact of the Graphic Sciences acquisition [215]. Financing and Cash Flow - The company had $1,876,816 in cash and net working capital of $118,214 as of June 30, 2020 [224]. - A loan of $838,700 was received through the Paycheck Protection Program in April 2020, with expectations for full forgiveness [227]. - As of June 30, 2020, the net cash used in operating activities was $132,287, a significant decrease from $648,124 in the same period of 2019, primarily due to a net loss adjusted for non-cash expenses of $799,319 [238]. - The company completed a private placement on March 2, 2020, raising gross proceeds of $5.5 million, with $3.5 million from common stock sales, retaining approximately $530,000 for working capital after acquisition costs [230]. - Net cash provided by financing activities for the six months ended June 30, 2020, was $5,644,681, resulting from new borrowings of $3,008,700 and the sale of common stock generating $2,859,633 [242]. - The company has outstanding indebtedness of $170,000 related to Seller Notes Payable, with $70,000 due by August 1, 2020, and $100,000 due by November 1, 2020, at an interest rate of 1.5% per annum [232]. - The company secured a PPP loan of $838,700 on April 15, 2020, with a two-year term and a 1.0% interest rate, which may be eligible for forgiveness based on specific criteria [233]. - The company’s outstanding principal balance of 12% subordinated promissory notes issued on March 2, 2020, is $2 million, maturing on February 28, 2023 [234]. Strategic Focus - The company anticipates that cloud-based delivery will become the principal software business and a primary source of revenue growth [190]. - The company is focused on organic growth while monitoring potential acquisitions of complementary solutions [190]. - The company plans to enhance market share through targeted marketing and strategic acquisitions to strengthen product offerings [226]. - The company plans to enhance sales and market share through targeted marketing, expanding reseller networks, and developing additional software capabilities, although no new financing commitments are currently in place [237]. Going Concern and Accounting Policies - The company’s ability to continue as a going concern is contingent upon enhancing operating cash flow and managing cash requirements effectively amid significant economic uncertainties [228]. - The company expenses software development costs before technological feasibility is reached, which is typically shortly before product release [261]. - No internal-use software costs were capitalized during the periods presented in the report [262]. - The company maintains one stock-based compensation plan, accounting for stock-based payments to employees based on fair values at the date of grant [263]. - Stock option awards' fair value is recognized as stock-based compensation cost over the requisite service period using the straight-line attribution method [264]. - The fair value of stock option awards is estimated using the Black-Scholes-Merton option pricing model [264]. - The expected volatility for stock options is based on historical volatility for the previous period equal to the expected term of the options [264]. - The risk-free interest rate for stock options is based on a U.S. Treasury instrument with a life similar to the expected term of the options [264]. - The expected dividend yield for stock options is based on the yield expected on the date of grant [264]. - Item 3 regarding market risk disclosures is not applicable to smaller reporting companies [265].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2020 [ ] 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: 000-31671 INTELLINETICS, INC. (Exact name of registrant as specified in its charter ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 or [ ] 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: 000-31671 INTELLINETICS, INC. (Exact name of registrant as specified in its charter) Nevada 87-0613716 (State or other jurisdiction ...

Revenue Performance - Total revenues for the three months ended September 30, 2019, were $755,568, representing a 12% increase from $673,111 in 2018[142] - For the nine months ended September 30, 2019, revenues were $1,911,561, reflecting a year-over-year growth of 9%[143] - Revenues from software as a service (SaaS) for the three months ended September 30, 2019, were $214,237, a 23% increase from $173,515 in 2018[146] - Software maintenance support revenue for the nine months ended September 30, 2019, was $753,692, an increase of 2% from $740,527 in 2018[147] - Professional services revenues for the three months ended September 30, 2019, were $116,696, a 104% increase from $57,294 in 2018[148] Cost and Margin Analysis - Gross margin for the three months ended September 30, 2019, improved to 80% from 61% in 2018[151] - Cost of revenues for the three months ended September 30, 2019, decreased by 44% to $147,690 from $261,758 in 2018[150] Net Loss and Financial Position - The company reported a net loss of $1,542,268 for the nine months ended September 30, 2019, with a basic and diluted net loss per share of $0.08[143] - As of September 30, 2019, the company had $303,080 in cash and a net working capital deficit of $456,104[157] - The company expects that capital requirements will exceed cash flows generated from operations over the next 12 months, indicating potential liquidity challenges[158] Operating and Investing Activities - Net cash used in operating activities was $745,439 for the nine months ended September 30, 2019, compared to $923,737 for the same period in 2018[166] - Net cash used in investing activities amounted to $5,489 for the nine months ended September 30, 2019, compared to $3,410 for the same period in 2018[167] Expenses Overview - General and administrative expenses increased by $64,593, or 14%, to $510,817 for the three months ended September 30, 2019, compared to $466,224 for the same period in 2018[153] - Sales and marketing expenses rose by $12,783, or 5%, to $248,757 for the three months ended September 30, 2019, compared to $235,974 for the same period in 2018[154] - Interest expense, net increased by $38,514, or 19%, to $245,156 for the three months ended September 30, 2019, compared to $206,642 for the same period in 2018[156] Future Plans and Capital - The company anticipates that the provision of SaaS-based customer activation will increase over time, with SaaS revenues accounting for 34% of total revenue for the nine months ended September 30, 2019, up from 30% in 2018[138] - The company plans to increase sales and market share through targeted marketing and an expanded reseller network, although additional capital will be required[165] - The company raised a total of $12,683,494 through debt and equity securities from 2012 to 2018[159] Employee Count - The number of employees as of September 30, 2019, was 17[143] - As of November 12, 2019, the company had 18,524,878 shares of common stock issued and outstanding[160]