Nixxy, Inc.(NIXX)
Search documents
Nixxy Inc. Announces its AI-powered Sales Acceleration Platform, Leadnova.ai Enters User Acceptance Testing, Targeting Commercial Beta Launch in Q1 2026
Accessnewswire· 2025-11-21 14:00
Core Insights - Nixxy Inc. has announced that its AI-powered sales acceleration platform, Leadnova.ai, has entered User Acceptance Testing (UAT) with a commercial beta launch planned for Q1 2026 [1] - The introduction of Leadnova.ai positions Nixxy to enter the AI data market and unlock future data monetization opportunities [1] - The product roadmap of Nixxy is closely aligned with its AI data infrastructure strategy and robust telecommunications delivery network [1]
Nixxy, Inc. Provides Update on Strategic Review of Digital Asset Treasury Structures
Accessnewswire· 2025-11-19 13:30
NEW YORK, NY / ACCESS Newswire / November 19, 2025 / Nixxy, Inc. (NASDAQ:NIXX) ("Nixxy" or the "Company"), a technology company focused on AI-enabled communications and data infrastructure, today provided an update on its recent strategic review relating to potential digital asset treasury initiatives. Over the course of Q3 2025, Nixxy received a number of inquiries from banks, digital asset platforms, crypto foundations, and other partners regarding the Company's potential role as a digital asset treasury ...
Nixxy, Inc.(NIXX) - 2025 Q3 - Quarterly Report
2025-11-13 22:25
Financial Performance - For the three-month period ended September 30, 2025, the company reported revenue of $31.9 million, a significant increase of $31.8 million or 23387% compared to $0.1 million in the same period of 2024, primarily driven by telecommunications services [268]. - For the nine-month period ended September 30, 2025, revenue reached $46.8 million, an increase of $46.3 million or 9416% compared to $0.5 million in the same period of 2024, mainly due to telecommunications services [277]. - The company incurred a net loss from continuing operations of $2.2 million for the three-months ended September 30, 2025, compared to a net loss of $13.3 million in the same period of 2024 [276]. - Net loss from continuing operations was $2.2 million for the nine months ended September 30, 2025, a significant improvement from a net loss of $11.0 million in the same period of 2024 [285]. - Adjusted EBITDA loss for the nine months ended September 30, 2025, was $5.7 million, compared to a loss of $124,596 in 2024 [290]. - The company has incurred net losses and negative operating cash flows since inception, with a net loss of $10.9 million for the nine months ended September 30, 2025 [297]. Revenue and Cost of Revenue - The cost of revenue for the same period was $31.8 million, reflecting an increase of $31.8 million from $0 in the corresponding period in 2024, attributed to the rise in revenue-generating operations [269]. - The cost of revenue for the nine-month period was $46.4 million, up from $3,000 in the corresponding period in 2024, representing an increase of $46.4 million [278]. Operating Expenses - Total operating expenses for the three-month period ended September 30, 2025, were $34.1 million, an increase of $28.5 million or 505% compared to $5.6 million in the same period of 2024 [270]. - Total operating expenses for the nine-month period ended September 30, 2025, were $56.4 million, an increase of $48.4 million or 604% compared to $8.0 million in the same period of 2024 [279]. - General and administrative expenses were $7.5 million for the nine months ended September 30, 2025, compared to $7.1 million in 2024, with non-cash stock-based compensation accounting for $3.6 million in 2025 and $5.1 million in 2024 [283]. Cash Flow and Financing - Net cash used in operating activities was $4.1 million for the nine months ended September 30, 2025, compared to $1.7 million in 2024 [291]. - Net cash provided by financing activities was $2.0 million for the nine months ended September 30, 2025, primarily from $1.8 million in cash received from the sale of common stock [294]. - The company secured a $2.0 million revolving growth facility to fund disciplined expansion without compromising shareholder alignment [266]. - Future operations are expected to be funded through additional securities offerings, as equity offerings have been the primary source of liquidity to date [299]. Acquisitions and Developments - The company completed the acquisition of Everythink Innovations' carrier and edge data center assets, adding an estimated $48 million of ARR exposure into NIXXY CORE™ [265]. - The Leadnova platform entered User Acceptance Testing in Q4 2025, with a commercial launch targeted for early 2026 [266]. - Product development expenses increased to $229 thousand for the nine months ended September 30, 2025, from $32 thousand in 2024, primarily due to higher hosting and data expenses [281]. Accounting Policies and Standards - Marketplace advertising revenues are recognized on a gross basis when advertising is placed and displayed, with payments typically due within 30 days of service completion [305]. - Consulting and Staffing Services revenues are recognized when services are rendered, with payments typically due within 90 days of service completion [306]. - Auralink recognizes revenue for SMS and VoiceIP transmission services at the point of delivery confirmation, acting as principal in these transactions [307]. - Contract liabilities arise when customers have paid for services but revenue recognition criteria have not yet been met [308]. - Goodwill is tested for impairment annually or when indicators suggest fair value may be below carrying value, with assessments based on qualitative and quantitative factors [311][313]. - Stock-based compensation is measured at grant date fair value and recognized over the service or vesting period, requiring significant judgment in estimating various factors [316]. - The FASB issued ASU 2023-07 to improve reportable segment disclosures, effective for annual periods beginning after December 15, 2023 [318]. - ASU 2023-09 aims to enhance income tax disclosures, effective January 1, 2025 [319]. - ASU 2024-03 requires detailed disaggregation of expenses in the income statement, effective for fiscal years beginning after December 15, 2026 [320].
Nixxy Signs $12 Million Annual Contract Increase, Extending Telecom Growth Momentum
Accessnewswire· 2025-11-04 14:00
Builds on October's approximately $15.34 million in monthly revenues; expansion focused on European deployment and partner led scaling NEW YORK, NY / ACCESS Newswire / November 4, 2025 / Nixxy, Inc. (NASDAQ:NIXX);(member, Russell 3000E) ("Nixxy" or the "Company") today announced it has executed a contract increase with Sky PLL Data Center OU, Estonia ("Sky PLL") to expand traffic by approximately $12,000,000 per year beginning January 2026. The agreement is expected to add approximately $1,000,000 in monthl ...
Nixxy Shareholder Update: Advancing AI Infrastructure and Expanding Capacity
Accessnewswire· 2025-09-30 12:45
Core Insights - Nixxy, Inc. has accelerated its transformation into an AI Infrastructure company over the past six months [1] - The company reported revenue growth and milestones advancing its COREâ"¢ technology toward enterprise-scale AI adoption [1] Financial Performance - Nixxy's revenue growth indicates a positive trend in its financial performance, reflecting successful integration of new edge infrastructure [1] Technological Advancements - The integration of new edge infrastructure is a key component of Nixxy's strategy to enhance its AI capabilities [1] - Milestones achieved in advancing the COREâ"¢ technology are significant for the company's future in enterprise-scale AI [1]
Nixxy, Inc.(NIXX) - 2025 Q2 - Quarterly Report
2025-08-13 20:07
Revenue and Growth - Nixxy, Inc. reported revenue of $13.5 million for the three months ended June 30, 2025, a significant increase of $13.3 million or 10016% compared to $0.1 million for the same period in 2024, primarily driven by an increase in telecommunication services [236]. - Total revenue for the six-month period ended June 30, 2025, was $14.9 million, an increase of $14.5 million or 4079% compared to $0.4 million in the same period of 2024 [245]. - Auralink, a subsidiary, generates revenue from telecommunications services, including SMS and VoiceIP communications, with revenue recognized at the point of delivery confirmation [220][224]. - Marketplace revenues include digital advertising and career services, with revenues recognized upon completion of services, such as job postings and resume distributions [221][222]. Costs and Expenses - The cost of revenue for the same period was $13.5 million, reflecting an increase of $13.5 million from $0 in the corresponding period of 2024, attributed to the rise in revenue-generating operations [237]. - Operating expenses for the six-month period ended June 30, 2025, were $22.4 million, an increase of $20.0 million or 835% compared to $2.4 million in the same period of 2024 [247]. - General and administrative expenses for the six-month period ended June 30, 2025, were $6.2 million, including $3.3 million of non-cash stock-based compensation, compared to $1.7 million in 2024 [251]. - Cost of revenue for the six-month period ended June 30, 2025, was $14.6 million, compared to $3 thousand in the same period of 2024, representing a significant increase [246]. - Sales and marketing expenses for the six-month period ended June 30, 2025, were $0.7 million, an increase of $0.6 million compared to $93 thousand in 2024 [248]. - Non-cash amortization charge for the six-month period ended June 30, 2025, was $831 thousand, compared to $587 thousand in the same period of 2024 [250]. Strategic Changes and Leadership - The Company is undergoing a strategic transformation, having sold its staffing business in 2023 and the Recruiter.com website in Q3 of 2024, with plans to spin out recruitment-related businesses to Atlantic Energy Solutions, now being renamed CognoGroup [219]. - The Company appointed Mike Schmidt as CEO on May 7, 2025, with a base salary of $10,000 per month and eligibility for 100,000 Restricted Stock Units, contingent upon board approval [229]. - An amendment to Mr. Schmidt's employment agreement increased his base salary to $180,000 per year, with an annual bonus of $45,000 contingent upon achieving certain milestones [232]. - The Company is focusing on finalizing strategic transactions and preparing for the spin-out of certain operating assets to CognoGroup, which will hold recruitment-related technology assets [227]. - The Company continues to improve its product offerings, particularly in Mediabistro and its job board technology, while preparing for the expected sale of Recruiter.com [228]. Financial Position and Cash Flow - Net loss from continuing operations for the six-month period ended June 30, 2025, was $8.8 million, compared to a net loss of $1.8 million during the same period in 2024 [253]. - Net cash used in operating activities for the six months ended June 30, 2025, was $3.0 million, compared to $1.2 million for the same period in 2024 [260]. - As of June 30, 2025, the company had approximately $0.9 million in cash on hand, insufficient to meet working capital needs for the next 12 months [266]. - The company recorded a loss on change in fair value of contingent consideration of $1.2 million for the six-month period ended June 30, 2025 [252]. Revenue Recognition and Accounting Policies - Marketplace advertising revenues are recognized on a gross basis when advertising is placed and displayed, with payments typically due within 30 days of service completion [274]. - Consulting and staffing services revenues are recognized when services are rendered, with payments typically due within 90 days of service completion [275]. - Auralink recognizes revenue for SMS and VoiceIP transmission services at the point of delivery confirmation, acting as principal in these transactions [276]. - Contract liabilities arise when customers have paid for services but revenue recognition criteria have not yet been met [279]. - Goodwill is tested for impairment annually on December 31st or when indicators suggest fair value may be below carrying value [282]. - The company uses the Black-Scholes option pricing model to determine the fair value of stock-based compensation, recognizing costs over the vesting period [286]. Accounting Standards Updates - In November 2023, the FASB issued ASU 2023-07 to improve reportable segment disclosures, effective for annual periods beginning after December 15, 2023 [288]. - ASU 2023-09, effective January 1, 2025, aims to enhance income tax disclosures, particularly regarding effective tax rate reconciliation [289]. - ASU 2024-03 requires detailed disaggregation of expenses in the income statement, effective for fiscal years beginning after December 15, 2026 [290]. - The company does not expect new accounting pronouncements to have a material impact on consolidated financial statements [290].
Nixxy, Inc.(NIXX) - 2025 Q1 - Quarterly Report
2025-05-20 20:05
Part I [Financial Information](index=4&type=section&id=Part%20I%20-%20Financial%20Information) This section presents the company's condensed consolidated financial statements, management's discussion and analysis, and disclosures on market risk and controls [Condensed Consolidated Financial Statements](index=4&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements) The company's financial statements for Q1 2025 reflect a strategic pivot, with total assets increasing to **$11.8 million** driven by acquisitions, a sharp decrease in cash to **$0.3 million**, and revenue surging to **$1.4 million** offset by a wider net loss of **$4.5 million** due to increased operating expenses [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2025, total assets grew to **$11.8 million** from **$7.0 million** at year-end 2024, primarily due to a significant increase in intangible assets to **$7.5 million**, while cash reserves sharply decreased to **$0.3 million** Condensed Consolidated Balance Sheet Highlights (Unaudited) | Account | March 31, 2025 ($) | December 31, 2024 ($) | | :--- | :--- | :--- | | **Assets** | | | | Cash | 294,166 | 2,532,990 | | Total current assets | 1,829,780 | 3,166,762 | | Intangible assets, net | 7,534,015 | 1,376,485 | | Total assets | 11,772,295 | 6,957,288 | | **Liabilities & Equity** | | | | Accounts payable | 2,481,026 | 1,141,978 | | Total current liabilities | 6,207,427 | 4,376,970 | | Total liabilities | 6,207,427 | 4,376,970 | | Total stockholders' equity | 5,564,868 | 2,580,318 | | Total liabilities and stockholders' equity | 11,772,295 | 6,957,288 | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For Q1 2025, revenue significantly increased to **$1.4 million** from **$0.2 million** year-over-year, driven by new telecommunication services, but a sharp rise in operating expenses to **$6.2 million** resulted in a wider net loss of **$4.5 million** Condensed Consolidated Statements of Operations (Unaudited) | Metric | Three Months Ended March 31, 2025 ($) | Three Months Ended March 31, 2024 ($) | | :--- | :--- | :--- | | Revenue | 1,396,898 | 222,557 | | Cost of revenue | 1,261,487 | 3,029 | | Total operating expenses | 6,173,168 | 1,275,862 | | Loss from operations | (4,776,270) | (1,053,305) | | Net loss | (4,542,163) | (778,427) | | Net loss per common share - Basic and Diluted | (0.30) | (0.40) | | Weighted average common shares - Basic and Diluted | 15,412,809 | 1,947,492 | [Condensed Consolidated Statements of Changes in Stockholders' Equity](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) Total stockholders' equity increased from **$2.6 million** to **$5.6 million** in Q1 2025, primarily due to the issuance of **2.8 million** common shares for intangible assets valued at **$5.2 million** and **$2.2 million** in stock-based compensation, partially offset by a **$4.6 million** net loss - The company issued **2,843,319** shares of common stock for intangible assets, adding **$5,174,556** to additional paid-in capital[17](index=17&type=chunk) - Stock-based compensation for the quarter totaled approximately **$11 thousand** for options and **$2.1 million** for stock[17](index=17&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) In Q1 2025, the company used **$1.8 million** in cash from operating activities, a significant increase from Q1 2024, and **$0.4 million** for investing activities, resulting in a decrease of the cash balance from **$2.5 million** to **$0.3 million** Condensed Consolidated Statements of Cash Flows (Unaudited) | Cash Flow Activity | Three Months Ended March 31, 2025 ($) | Three Months Ended March 31, 2024 ($) | | :--- | :--- | :--- | | Net cash (used) in operating activities | (1,838,824) | (669,798) | | Net cash (used) in / provided by investing activities | (400,000) | 100,000 | | Net cash used in financing activities | – | (129,000) | | **Net decrease in cash** | **(2,238,824)** | **(698,798)** | | **Cash, end of period** | **294,166** | **309,610** | [Notes to Unaudited Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) The notes detail the company's name change to Nixxy, Inc., a strategic pivot to telecommunications via acquisitions, a disclosed substantial doubt about its going concern ability due to cash burn and working capital deficit, the establishment of two new reporting segments (Auralink and Nixxy), and ongoing legal proceedings - The company changed its name from Recruiter.com Group, Inc. to **Nixxy, Inc.** on September 27, 2024[23](index=23&type=chunk) - Management has determined there is substantial doubt about the Company's ability to continue as a going concern due to a working capital deficit of approximately **$4.4 million** and insufficient cash to fund operations for the next 12 months[97](index=97&type=chunk) - The company now operates in two reportable segments: **Auralink** (telecommunications) and **Nixxy** (marketplace solutions), with Auralink generating **$1.3 million** in revenue and Nixxy generating **$0.1 million** for Q1 2025[91](index=91&type=chunk)[195](index=195&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=40&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's strategic transformation from recruitment to telecommunications and AI, highlighted by a **528%** year-over-year revenue increase to **$1.4 million** in Q1 2025, alongside a **384%** increase in operating expenses leading to a **$4.5 million** net loss, and acknowledges critical liquidity issues with only **$0.3 million** in cash - The company is undergoing a strategic transformation, selling its staffing and recruitment website businesses to focus on telecommunications and AI, leveraging acquisitions and a license agreement with GoLogiq[204](index=204&type=chunk) Results of Operations Comparison (Q1 2025 vs Q1 2024) | Metric | Q1 2025 ($) | Q1 2024 ($) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 1.4M | 0.2M | +528% | | Cost of Revenue | 1.3M | 3k | +41,885% | | Operating Expenses | 6.2M | 1.3M | +384% | | Net Loss | 4.5M | 0.8M | +462.5% | - The company does not have sufficient capital to meet its working capital needs for the next 12 months, with cash on hand of approximately **$0.3 million** as of March 31, 2025[234](index=234&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=49&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section is not applicable to the company - The company has indicated that quantitative and qualitative disclosures about market risk are not applicable[257](index=257&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 March 31, 2025, due to identified material weaknesses in internal control over financial reporting, specifically a lack of sufficient staff for proper segregation of duties and in-house technical expertise for complex accounting transactions - The principal executive and financial officers concluded that disclosure controls and procedures were **not effective** as of the end of the reporting period[258](index=258&type=chunk) - Material weaknesses identified include: (1) insufficient number of employees for proper segregation of duties and monitoring, and (2) lack of in-house technical expertise to analyze complex transactions[260](index=260&type=chunk) Part II [Other Information](index=50&type=section&id=Part%20II%20-%20Other%20Information) This section covers legal proceedings, risk factors, unregistered sales of equity securities, defaults on senior securities, mine safety disclosures, and other information [Legal Proceedings](index=50&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in several legal matters, including pursuing collection against BKR Strategy Group with a favorable ruling on a **$0.5 million** promissory note, and defending against lawsuits from Pipl, Inc. for over **$0.3 million**, Creditors Adjustment Bureau, Inc. for approximately **$0.2 million**, and HireTeammate, Inc. for over **$79 thousand** - The company is a defendant in a lawsuit filed by Pipl, Inc. for an alleged unpaid amount exceeding **$266,562.59**[265](index=265&type=chunk) - The company is involved in legal proceedings initiated by Creditors Adjustment Bureau, Inc. for alleged unpaid obligations of approximately **$213,894.44**[266](index=266&type=chunk) - HireTeammate, Inc. (hireEZ) has sued the company for a claimed **$79,388.39** related to alleged breach of contract[267](index=267&type=chunk) [Risk Factors](index=50&type=section&id=Item%201A.%20Risk%20Factors) The company directs investors to the risk factors detailed in its Annual Report on Form 10-K for the year ended December 31, 2024, with no new risk factors presented in this quarterly report - The report refers to the risk factors set forth in the Annual Report on Form 10-K for the year ended December 31, 2024[269](index=269&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) There were no unregistered sales of equity securities or use of proceeds to report for the period - None[270](index=270&type=chunk) [Defaults Upon Senior Securities](index=51&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) There were no defaults upon senior securities to report for the period - None[271](index=271&type=chunk) [Mine Safety Disclosures](index=51&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section is not applicable to the company - Not applicable[272](index=272&type=chunk) [Other Information](index=51&type=section&id=Item%205.%20Other%20Information) During the quarter ended March 31, 2025, no director or officer of the company adopted or terminated any Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement - No director or officer adopted or terminated any Rule 10b5-1 trading arrangement during the quarter[273](index=273&type=chunk) [Exhibits](index=51&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed as part of the Quarterly Report, including certifications by the Principal Executive Officer and Principal Financial Officer, and XBRL data files - Exhibits filed with the report include officer certifications pursuant to Sarbanes-Oxley Act Sections 302 and 906, and Inline XBRL documents[274](index=274&type=chunk)
Nixxy, Inc.(NIXX) - 2024 Q4 - Annual Report
2025-03-31 21:21
Strategic Transformation - The company underwent a strategic transformation, selling its staffing business in 2023 and the Recruiter.com website in Q3 2024[211] - The company exited the Consulting and Staffing line of business through a strategic sale to Futuris, Inc. in October 2023[214] - The company is preparing for a planned spin-out transaction of certain operating assets to its Atlantic Energy Solutions subsidiary, now being renamed CognoGroup[225] - The Company announced a name change to Nixxy, Inc., effective December 1, 2024, with common stock trading under the new ticker symbol "NIXX" starting October 1, 2024[228] - The Company terminated the non-binding Letter of Intent with Just Got 2 Have It, Inc. as part of its strategic shift towards telecommunications and technology[236] Revenue and Financial Performance - Revenue for the year ended December 31, 2024, was $0.6 million, a decrease of $2.6 million or 81% compared to $3.2 million in 2023, primarily due to a 99.9% decrease in the Recruiters on Demand business[230] - The Company reported no revenue from Software Subscriptions in 2024, compared to $0.4 million in 2023[230] - The company generated revenue from various activities, including software subscriptions, full-time placements, and marketplace services[212] - Revenue share revenues are recorded on a net basis as an agent, based on a percentage of revenue earned from client referrals[222] - The company recognizes revenue in accordance with ASC 606, with various revenue recognition methods based on service type[294] Expenses and Losses - Total operating expenses increased to $15.5 million in 2024 from $10.9 million in 2023, driven by a $4.7 million goodwill impairment and a $2.8 million rise in administrative expenses[232] - General and administrative expenses for the year ended December 31, 2024, were $8.9 million, an increase from $6.1 million in 2023, with non-cash stock-based compensation rising from $1.5 million to $5.6 million[238] - The Company recorded a net loss from continuing operations of $22.6 million for the year ended December 31, 2024, compared to a net loss of $7.7 million in 2023[240] - Adjusted EBITDA for the year ended December 31, 2024, was a loss of $2.1 million, an improvement from a loss of $2.4 million in 2023[246] Cash Flow and Debt Management - Net cash used in operating activities was $4.1 million for the year ended December 31, 2024, compared to $0.9 million in 2023[247] - As of December 31, 2024, the Company had approximately $2.5 million in cash, insufficient to meet its working capital needs for the next 12 months[251] - The Company extinguished approximately $1.18 million in principal and interest by converting August 2022 notes into 5,358,569 shares of common stock[228] - The Company recognized a loss on extinguishment of debt amounting to $8,224,042 for the year ended December 31, 2024, related to the 8/17/22 and 8/30/22 Notes[270] - The Company repaid $1,071,522 of principal under the Montage note during the year ended December 31, 2024[279] Agreements and Contracts - In 2024, the company focused on finalizing strategic transactions, including a license agreement with GoLogiq and an Asset Purchase Agreement with Job Mobz[225] - The Company entered into a Technology License and Commercialization Agreement with GoLogiq, Inc., granting an exclusive license for a term of 10 years with a reduced royalty from 8% to 5%[227] - A twelve-month contract with Mexedia SpA was established, expected to generate up to $10 million in revenue per month through SMS services[236] - The company entered into a factoring agreement with a maximum credit of $3,000,000, with advances of up to 85% of eligible trade accounts receivable[286] Accounting and Financial Reporting - Deferred revenue results from transactions where the company has been paid for services but has not yet met all revenue recognition criteria[223] - Software subscription revenues are recognized monthly over the subscription term, while consulting and staffing services revenues are recognized when services are rendered[296][302] - Goodwill is tested for impairment annually on December 31, with assessments based on qualitative factors and discounted cash flow methodologies[306][310] - The company is evaluating the impact of new accounting standards issued by the FASB, including ASU 2023-09 and ASU 2024-03, on its disclosures[312][314]
Nixxy Commences Private Offering of up to $50 million of Bitcoin Secured Convertible Notes
ACCESSWIRE Newsroom· 2025-01-21 13:07
Nixxy Commences Private Offering of up to $50 million of Bitcoin Secured Convertible Notes ...
Nixxy, Inc.(NIXX) - 2024 Q3 - Quarterly Report
2024-11-14 22:14
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2024 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________: Commission file number: 001-40563 NIXXY, INC. | --- | --- | --- | |----------------------------------------------------------------------------|----------- ...