Mobiquity Technologies(MOBQ)

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Mobiquity Technologies(MOBQ) - 2024 Q4 - Annual Report
2025-04-07 21:01
Revenue Generation and Business Model - The ATOS platform engages with approximately 10 billion advertisement opportunities per day, aiming to become the programmatic display advertising industry standard for brands and small to medium-sized advertisers[18]. - Mobiquity's data intelligence platform seeks to generate multiple revenue streams, including advertising, data licensing, and custom research, by providing precise data and insights on consumer behavior[21]. - The company launched a SaaS publisher platform to help content publishers manage compliance and monetize their first-party data, addressing increased costs and decreased revenue due to privacy regulations[26]. - Mobiquity anticipates generating revenue through two verticals: licensing platforms as white-label products and a managed services model, with the latter involving a higher percentage of revenue[40]. - The strategic partnership with Context Networks aims to integrate advanced ad tech solutions for casinos, enhancing player engagement and extending advertising across mobile and CTV platforms, expected to positively impact operations in fiscal 2025[41]. - A significant portion of revenue is derived from programmatic advertising, and any slowdown in this market could adversely affect growth prospects[72]. - The company must continually innovate and enhance its platform to meet evolving customer needs and industry standards, or risk losing market share[77]. Financial Performance and Risks - For fiscal 2024 and 2023, sales to two customers accounted for approximately 58% and 73% of revenues, respectively, indicating a high customer concentration risk[49]. - For the fiscal years ended December 31, 2024, and 2023, the company reported net losses of $8,593,182 and $6,533,117, respectively, with an accumulated deficit of $225,633,521 as of December 31, 2024[55]. - The company incurred net cash used in operating activities of $2,406,881 and $4,395,868 for the fiscal years ended December 31, 2024, and 2023, respectively[55]. - The company has a history of operating losses and has raised substantial doubt about its ability to continue as a going concern, as noted by its auditor in the audit report for the past several fiscal years[55]. - The sales cycle for the company's products can range from two weeks to 12 months, making revenue forecasting difficult and leading to significant fluctuations in operating results[58]. - The company relies on third-party data suppliers for much of its data, and any disruption in these relationships could materially impact its ability to provide products and services[59]. - The company faces increasing cybersecurity risks as it collects data from new sources, and any significant breach could materially harm its business and financial condition[62]. - The company is subject to payment-related risks, and disputes over invoices could lead to write-offs that negatively impact financial results[86]. - Maintaining customer relationships is critical, as clients can terminate contracts with minimal notice, leading to potential revenue loss[74]. - The company must invest significantly in technology and infrastructure to keep pace with rapid market changes, which requires substantial financial resources[78]. - Changes in consumer sentiment regarding data privacy could adversely affect the company's ability to generate revenue and collect consumer data[83]. - The company is exposed to regulatory risks that could impede growth and result in reputational damage if compliance is not maintained[84]. - Failure to detect advertising fraud could harm the company's reputation and affect its ability to execute business plans effectively[79]. Competition and Market Environment - The company faces intense competition from larger firms with greater financial and technical resources, which could impact revenue growth and operating margins[68]. - The company operates in a highly competitive industry, facing risks such as economic downturns and variability in sales and earnings[168][169]. Corporate Governance and Structure - The company operates through two wholly owned subsidiaries, Advangelists, LLC and Mobiquity Networks, Inc., to streamline its business operations[50]. - As of March 14, 2025, Mobiquity has 8 employees and utilizes independent consultants for additional services, indicating a lean operational structure[48]. - Approximately 45% of the outstanding common stock is beneficially owned by principal stockholders, directors, and executive officers, potentially influencing corporate actions[108]. - The board of directors has the authority to issue preferred stock without further shareholder approval, which could adversely affect the rights of common shareholders[112]. Stock and Financing Activities - The company's common stock and warrants were delisted from the Nasdaq Capital Markets in December 2023 due to failure to meet listing requirements, now trading on OTC Markets as "MOBQ" and "MOBQW" respectively[95]. - Approximately 20 million shares of common stock were outstanding as of March 31, 2025, with significant potential for market price volatility due to the limited public float[103]. - The company does not intend to pay dividends for the foreseeable future, relying instead on stock appreciation for returns on investment[107]. - In fiscal year 2024, the company raised a total of $4,026,950 in cash from various accredited investors, resulting in the issuance of 5,908,734 shares at per share prices ranging from $0.30 to $1.75[154]. - The company completed a public offering on June 30, 2023, selling 375,000 shares of common stock for total gross proceeds of $3,000,000[148]. Internal Controls and Compliance - The company has identified significant deficiencies in internal control over financial reporting, which could lead to material misstatements in financial statements if not corrected[104]. - Remediation efforts for internal control deficiencies include hiring additional staff with GAAP experience and engaging a consultant for internal control review and monitoring[105]. - The company has implemented policies to manage cybersecurity risks, although it cannot guarantee the effectiveness of these measures[90]. - Cybersecurity threats have not materially affected the company, with no known material security breaches in the past two years[94]. Financial Metrics - Revenues for fiscal 2024 were $2,085,471, an increase of $1,225,381 or 142.5% compared to $860,090 in fiscal 2023[191]. - Cost of revenues was $1,123,849, representing 54% of revenues in fiscal 2024, a decrease from 56% in fiscal 2023[192]. - Gross profit for fiscal 2024 was $961,622, or 46% of revenues, compared to $379,930 or 44% of revenues in fiscal 2023[193]. - Total operating expenses increased to $9,172,687 in fiscal 2024 from $5,928,678 in fiscal 2023, an increase of $3,244,009[193]. - The loss from operations for fiscal 2024 was $8,211,065, an increase of approximately $2,662,000 compared to a loss of $5,548,748 in fiscal 2023[194]. - Cash provided by financing activities in fiscal 2024 was $4,482,938, primarily from the issuance of common stock for cash of $4,026,950[196]. - The company had cash of $1,159,933 at December 31, 2024, compared to $528,272 at December 31, 2023[196][197]. - The company capitalized $1.4 million of internal-use software costs during the year ended December 31, 2024[213]. - The company has a working capital deficit of $1,257,393 and an accumulated deficit of $225,633,521 as of December 31, 2024[205].
Mobiquity Technologies and Context Networks Strengthen Casino Ad Tech Leadership with Strategic Equity Investment
GlobeNewswire· 2025-02-18 13:00
Core Insights - Mobiquity Technologies, Inc. has announced a strategic partnership expansion with Context Networks, Inc. through a $500,000 equity swap, establishing minority stakes in each other's companies to enhance innovation in casino advertising technology [1][2] - The partnership aims to capitalize on the growing market for targeted, data-driven advertising solutions in gaming environments, reflecting mutual confidence in the future of casino advertising [2] Industry Overview - The digital advertising landscape within the gaming and casino sectors is experiencing significant growth, with global video game advertising revenue projected to nearly double from $70 billion in 2022 to $137 billion by 2027, indicating a compound annual growth rate (CAGR) of over 14% [3] - A report by the Interactive Advertising Bureau (IAB) indicates that 86% of advertisers recognize the increasing importance of gaming advertising, with 40% planning to increase their budgets in this area [4] Company Strategies - Mobiquity Technologies aims to revolutionize casino advertising by integrating AI-powered programmatic advertising, enhancing player experiences, and creating new revenue opportunities for operators [5] - Context Networks focuses on delivering transparent, secure, and efficient advertising solutions for the global gaming industry, emphasizing innovation and value creation through advanced technology and strategic partnerships [7]
Mobiquity Technologies(MOBQ) - 2024 Q3 - Quarterly Report
2024-11-14 21:01
Table of Contents 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, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 COMMISSION FILE NUMBER: 001-41117 MOBIQUITY TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) NEW YORK 11-3427886 (State of jurisdiction of Incorporation) (I.R.S. Employer ...
Mobiquity Technologies Partners with Context Networks to Transform Slot Machine Advertising in Casinos
GlobeNewswire News Room· 2024-08-13 12:45
Core Insights - Mobiquity Technologies, Inc. has formed a strategic partnership with Context Networks, Inc. to enhance advertising solutions in the casino gaming sector, particularly focusing on slot machines [1][3][7] - The collaboration aims to leverage advanced contextual targeting and private blockchain technology to unlock significant advertising potential within the casino industry [2][5] Company Overview - Mobiquity Technologies is a provider of next-generation data intelligence and advertising technology solutions, serving various industries including gaming [8] - Context Networks specializes in programmatic advertising platforms utilizing private blockchain technology, focusing on the gaming industry [9] Market Opportunity - The casino industry presents a vast market with billions in revenue and significant untapped advertising potential, allowing casinos to create a new non-gaming revenue stream [2][6] - The partnership aims to transform advertising in casinos by delivering personalized ads to players at the point of play, enhancing user experience and engagement [3][6] Technological Integration - The integration of blockchain technology ensures secure and transparent ad transactions, while AI enhances audience segmentation and targeting [5][7] - This combination is expected to create a trustworthy advertising ecosystem, ultimately increasing revenue for casino operators [6][7] Strategic Partnerships - Adfuel has joined the collaboration as a key demand partner, gaining exclusive access to a Private Marketplace designed for casinos, optimizing advertising opportunities [4][5] - The partnership's initial focus is on slot machines, with plans to expand into other gaming segments, including digital and online platforms [7]
Mobiquity Technologies(MOBQ) - 2024 Q2 - Quarterly Report
2024-08-12 21:15
Table of Contents 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 COMMISSION FILE NUMBER: 001-41117 MOBIQUITY TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) NEW YORK 11-3427886 (State of jurisdiction of Incorporation) (I.R.S. Employer Iden ...
Mobiquity Technologies and Adfuel Announce Strategic Collaboration to Advance Growth
GlobeNewswire News Room· 2024-07-11 11:30
Under this collaboration, Adfuel will become Mobiquity Technologies' preferred agency partner. Adfuel will run a significant portion of its U.S. ad campaigns using Mobiquity's programmatic advertising platform. In turn, Mobiquity will provide Adfuel with technological support and preferred volume pricing. Daniel Pasco, CEO of Adfuel Inc., shared his excitement: "We are delighted to partner with Mobiquity as their preferred agency. This collaboration underscores our commitment to delivering exceptional servi ...
Mobiquity Technologies Announces Strategic Collaboration with MW Political for Advanced Political Advertising Solutions
globenewswire.com· 2024-05-22 12:30
Core Insights - Mobiquity Technologies, Inc. has announced a strategic collaboration with MW Political to enhance political data and advertising solutions across Connected TV (CTV) and Over-The-Top (OTT) platforms, marking a significant milestone in digital advertising for the political sector [1][3] Group 1: Collaboration Details - The collaboration is expected to generate substantial business opportunities, with new political advertising campaigns valued at an estimated $7 million over the next four years, starting mid-July 2024 [2] - An agreement has been reached with a prominent Political Action Committee (PAC), allocating a $5 million budget for electoral efforts in two key battleground states, with 60-70% of this budget directed towards Mobiquity's digital initiatives beginning in June 2024 [3] Group 2: Company Profiles - Mobiquity Technologies is a next-generation Platform-as-a-Service (PaaS) company in the advertising and data technology sector, offering a vast audience database and innovative programmatic advertising technologies through its subsidiaries [4] - MW Political specializes in AI-driven solutions for digital advertising, providing advanced tools for optimizing advertising campaigns to ensure maximum efficiency and engagement [5]
Mobiquity Technologies(MOBQ) - 2024 Q1 - Quarterly Report
2024-05-20 20:00
Financial Performance - Revenues for Q1 2024 were $263,282, an increase of 99% from $132,224 in Q1 2023, attributed to a rise in political revenue[184]. - Cost of revenues in Q1 2024 was $211,269, representing 80% of revenues, compared to $62,808 or 48% of revenues in Q1 2023[185]. - Gross profit for Q1 2024 was $52,013, accounting for 20% of revenues, down from $69,416 or 52% of revenues in Q1 2023[186]. - Total operating expenses decreased to $1,101,111 in Q1 2024 from $1,425,747 in Q1 2023, a reduction of $324,636[186]. - Loss from operations for Q1 2024 was $1,049,098, an improvement from a loss of $1,356,331 in Q1 2023, reflecting a decrease of approximately $307,000[187]. - Cash on hand as of March 31, 2024, was $73,068, with cash used in operating activities amounting to $601,762[189]. - Cash used in operating activities for Q1 2023 was $1,606,449, with cash on hand at that time being $2,182,330[190]. Revenue Generation and Business Model - The company generates revenue through two main verticals: licensing platforms as white-label products and a managed services model, with the latter involving a higher percentage of revenue billed[155]. - The company aims to become the programmatic display advertising industry standard for small and medium-sized advertisers[155]. - Mobiquity plans to hire new sales and support staff to enhance revenue generation through its Advangelists platform and MobiExchange[182]. Debt and Financing Activities - In March 2024, the Company issued a promissory note of $126,500 with a 14% interest rate, resulting in total interest of $17,710 payable in five payments from September 15, 2024, to January 15, 2025[196]. - In April 2024, the Company issued a promissory note of $96,000 with a 15% interest rate, totaling $14,400 in interest, payable in ten payments starting May 30, 2024, through March 31, 2025[197]. - The Company entered into a 2023 Merchant Agreement for $200,000, to be repaid through daily payments of 10% of future customer payments until a total of $272,000 is paid, with a debt discount of $72,000 amortized over 170 days[199]. - The 2024 Merchant Agreement was established for $150,000, with repayments structured similarly to the 2023 agreement, and a debt discount of $62,850 amortized over 170 days[200]. - In April 2024, the Company entered a new Merchant Agreement for $250,000, with total repayments expected to reach approximately $342,250, and shares issued equal to 5% of the Purchase Price[201]. - The Company raised $3,207,500 from a public offering in February 2023, selling 251,842 shares of common stock and pre-funded warrants[202]. - The June 2023 Offering generated gross proceeds of $3,000,000 from the sale of 375,000 shares of common stock and 1,625,000 pre-funded warrants, with net proceeds of approximately $2,528,000 after fees[206]. - In October 2023, the Company received a $300,000 loan with a 15% interest rate, convertible into restricted common stock at $0.70 per share[208]. - The Series G Preferred Stock issuance in November 2023 raised $1,503,495, with each share convertible into ten shares of common stock at $0.50 per share[209]. Internal Controls and Compliance - Revenue recognition follows ASC Topic 606, ensuring alignment with service delivery and enhancing financial disclosures[170]. - The Chief Executive Officer and Chief Financial Officer concluded that the Company's disclosure controls and procedures were not effective as of March 31, 2024, due to a lack of segregation of duties in the finance and accounting department[216]. - The Company has identified control gaps and deficiencies and continues to remediate these issues as a priority, with independent monitoring and testing of controls ongoing[220]. - Management has decided to defer the allocation of additional talent for full implementation of planned remediations until late fiscal 2024[220]. - The Company believes that its financial statements present fairly its financial position, results of operations, and cash flows for the period presented[219]. - Changes in the Company's internal control over financial reporting during the fiscal year included the integration of new staff, which may materially affect internal controls[218]. - The Company maintains disclosure controls designed to ensure timely and accurate reporting of required information[217]. Market and Industry Context - The global programmatic ad spend reached an estimated $558 billion in 2023, projected to surpass $700 billion by 2026[147]. - The company operates in a highly competitive industry, facing risks such as economic downturns and variability in sales and earnings[159][160]. - The data intelligence platform provides precise data and insights on consumer behavior, utilizing multiple proprietary technologies for accurate data collection and analysis[152]. - The publisher platform allows content publishers to monetize user data and advertising inventory while ensuring data privacy compliance[154]. - The company’s advertising technology integrates various capabilities, reducing costs and improving efficiency compared to fragmented ecosystems[151]. - The company emphasizes the importance of first-party data ownership for publishers in light of recent privacy law changes[149]. Historical Performance and Concerns - The Company has a history of operating losses, raising substantial doubt about its ability to continue as a going concern[188]. - The Company adopted ASU 2016-13 on January 1, 2023, which did not significantly impact its consolidated financial statements[180]. - In January 2024, the Company issued 100,000 shares of common stock to settle vendor liabilities amounting to approximately $50,000[213]. - In March 2024, the Company issued 18,000 shares of common stock for vendor liabilities totaling $12,000, with share prices ranging from $0.50 to $1.00[213]. - Between January and March 2024, the Company raised $400,001 in cash from accredited investors through common stock subscription agreements, resulting in the issuance of 1,123,334 shares at prices between $0.30 and $0.60[214]. - As of March 31, 2024, the Company reported no off-balance-sheet arrangements[215].
Mobiquity Technologies(MOBQ) - 2023 Q4 - Annual Report
2024-04-08 21:16
Table of Contents MOBIQUITY TECHNOLOGIES, INC. 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 ☐ 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: 001-41117 MOBIQUITY TECHNOLOGIES, INC. (Exact name of Registrant as specified in its charter) | New York ...
Mobiquity Technologies(MOBQ) - 2023 Q3 - Quarterly Report
2023-11-14 21:06
Table of Contents 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 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 COMMISSION FILE NUMBER: 001-41117 MOBIQUITY TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) NEW YORK 11-3427886 35 Torrington Lane, SHOREHAM, NY 11786 (Address of princi ...