Financial Instruments and Debt Management - The Company issued a note in the principal amount of $3,237,269 with a 20% original issue discount, due by February 5, 2025, or upon receiving at least $3,500,000 from a Qualified Offering[36]. - The Company raised $6.5 million through a securities purchase agreement, issuing 2,363,637 units, each consisting of one share of common stock and two common warrants exercisable at $2.50 per share[37]. - The Company received approximately $3.9 million in cash from future receivables financings in 2023, which was restructured to a total balance of $4.6 million due to inability to make prescribed monthly payments[38]. - The Company entered into an Exchange Agreement to reduce outstanding indebtedness by approximately $617,000, issuing new Senior Subordinated Notes of $4,000,000[40]. - The Company modified its debt agreement to reduce the principal balance by $2.7 million as part of an asset purchase agreement[47]. - The company recorded a loss on extinguishment of debt of $2.0 million for the year ended December 31, 2024[83]. - The company issued 1,261,830 warrants valued at $2.6 million as part of the debt extinguishment[84]. - The company entered into a secured loan agreement for $2.2 million on September 22, 2023, with potential deferrals of existing payment obligations totaling $2.0 million[92]. - On May 1, 2024, the Company entered into an asset purchase agreement with Synergy, resulting in a gain on extinguishment of $2.1 million and a debt modification gain of $2.2 million[93]. - The principal balance of the Secured Bridge Loan decreased from $5.1 million to $2.7 million as part of the asset acquisition[93]. - The Company recorded a loss on extinguishment of debt amounting to $1.0 million for the year ended December 31, 2024[94]. - The Company issued 500,000 common stock warrants valued at $1.0 million using the Black-Scholes model as part of the debt extinguishment[95]. Revenue and Sales Performance - For the three months ended March 31, 2025, the company reported a net loss of $3.867 million, resulting in a basic and diluted net loss per share of $0.32[126]. - Net sales for the three months ended March 31, 2025, were $1.469 million, a decrease of 70.2% compared to $4.926 million in the same period of 2024[148]. - Gross profit for the same period was $721,000, down from $1.512 million in 2024, indicating a decline of 52.3%[148]. - Three customers represented approximately 51% of net sales for the three months ended March 31, 2025[64]. - The company transitioned to a commission revenue model for the Industrial segment, recognizing revenue on a net basis for its services[63]. Operational Changes and Cost Management - The Company plans to reduce operating costs and increase revenue through new product introductions and customer acquisitions[35]. - The Company launched a new product line called Groove and rationalized its third-party brands to reduce inventory carrying costs[51]. - The Company entered into strategic partnerships to enhance service offerings and reduce costs, potentially impacting top-line revenue[52][53]. - The Company has successfully renegotiated vendor and supplier terms to improve working capital arrangements and streamline operations[54]. - The company has not recognized any equity-based compensation expense for the three months ended March 31, 2025, compared to $86,000 in the same period of 2024[135]. Assets and Liabilities - As of March 31, 2025, the Company reported total property and equipment, net of accumulated depreciation, of $1.33 million[106]. - The company had no outstanding debt as of March 31, 2025, down from $7.7 million as of December 31, 2024[79]. - The company reported accounts receivable of $4.899 million, an increase from $4.262 million as of December 31, 2024[148]. - The company’s long-lived assets totaled $2.145 million as of March 31, 2025, slightly down from $2.463 million at the end of 2024[148]. - Customer deposits decreased from $2.66 million as of December 31, 2024, to $2.53 million as of March 31, 2025, due to revenue recognition of $132,000[110]. - The four largest vendors accounted for approximately 78.8% of total purchases for the three months ended March 31, 2025[112]. Legal and Regulatory Matters - The Company received a Civil Investigation Demand regarding a potential violation of the False Claims Act related to a $1.9 million PPP loan[100]. - The Company intends to dispute a demand for arbitration for unpaid legal invoices amounting to $320,511.48[97]. Future Plans and Capital Raising - The Company plans to seek additional capital through the issuance of debt or equity securities[35]. - The company completed a private placement of approximately $25.0 million, selling shares at a price of $1.19 per Common Unit[122]. - The Company issued an aggregate of 58,000 shares of Class A common stock and warrants for gross cash proceeds of $6.5 million in an August 2024 private placement[117]. Miscellaneous - The company had an escrow balance of $1.7 million as of March 31, 2025, after $0.8 million was credited back to purchasers due to late filings[124]. - The company expects to settle the escrow receivable amount owed by December 31, 2025[124]. - The company has established a full valuation allowance against its deferred tax assets, reflecting a carrying balance of $0 as of March 31, 2025[138]. - No quantitative or qualitative disclosures about market risk were required in the report[225].

Exhibit 99.1 Fluent Announces First Quarter 2025 Financial Results; Strategic Pivot Accelerates with Growth of Commerce Media Solutions New York, NY – May 15, 2025 – Fluent, Inc. (NASDAQ: FLNT), a commerce media solutions provider, today reported unaudited financial results for the first quarter ended March 31, 2025. Don Patrick, Fluent's Chief Executive Officer, commented, "Our first quarter results showed the fifth consecutive quarter of strong year-over-year growth in our Commerce Media Solutions busines ...

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, 2025 ☐ 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: 1-7884 MESA ROYALTY TRUST 1-713-483-6020 (Registrant's Telephone Number, Including Area Code) (Exact name of registrant as specified in its chart ...

Exhibit 99.1 Fold Holdings, Inc. (NASDAQ: FLD) Announces First Quarter 2025 Results Revenue: $7.1 million, 44% YoY increase Bitcoin Treasury Holdings: 1,490 BTC, ~50% increase from Q4 2024 Launched Bitcoin Gift Card with access to network of thousands of retailers New accounts up over 300% YoY and platform volumes up 67% YoY PHOENIX – May 15, 2025 Fold Holdings, Inc. (NASDAQ: FLD) ("Fold"), the first publicly traded bitcoin financial services company, today announced financial results for the first quarter ...

PHOENIX – May 15, 2025 Fold Holdings, Inc. (NASDAQ: FLD) ("Fold"), the first publicly traded bitcoin financial services company, today announced financial results for the first quarter ended March 31, 2025. Financial Highlights Key Operating Metrics CEO Commentary "We are pleased to report a strong first quarter, with revenues for the period increasing by 44% versus a year ago, while core KPIs such as Active Accounts and Transaction Volumes were also up", said Fold Chairman and CEO, Will Reeves. "From Fold' ...

Exhibit 99.1 Fold Holdings, Inc. (NASDAQ: FLD) Announces First Quarter 2025 Results Revenue: $7.1 million, 44% YoY increase Bitcoin Treasury Holdings: 1,490 BTC, ~50% increase from Q4 2024 Launched Bitcoin Gift Card with access to network of thousands of retailers New accounts up over 300% YoY and platform volumes up 67% YoY PHOENIX – May 15, 2025 Fold Holdings, Inc. (NASDAQ: FLD) ("Fold"), the first publicly traded bitcoin financial services company, today announced financial results for the first quarter ...

Exhibit 99.1 Fold Holdings, Inc. (NASDAQ: FLD) Announces First Quarter 2025 Results Revenue: $7.1 million, 44% YoY increase Bitcoin Treasury Holdings: 1,490 BTC, ~50% increase from Q4 2024 Launched Bitcoin Gift Card with access to network of thousands of retailers New accounts up over 300% YoY and platform volumes up 67% YoY PHOENIX – May 15, 2025 Fold Holdings, Inc. (NASDAQ: FLD) ("Fold"), the first publicly traded bitcoin financial services company, today announced financial results for the first quarter ...

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Date of Report (Date of earliest event reported): May 15, 2025 Marin Software Incorporated (Exact name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation) Delaware 001-35838 20-4647180 (Commission File Number) (IRS Employer Identification No.) 149 New Montgomery Street, 4th Floor San Francisco, California 94 ...

Exhibit 99.1 SIFCO Industries, Inc. ("SIFCO") Announces Second Quarter and First Half of Fiscal 2025 Financial Results Cleveland — SIFCO Industries, Inc. (NYSE American: SIF) today announced financial results for its second quarter and first half of fiscal 2025, which ended March 31, 2025. Second Quarter Results First Half Results Other Highlights "Our second quarter was focused on identifying opportunities for margin improvement and increasing throughput at both plants." said George Scherff, Chief Executiv ...

PART I – Financial Information [Condensed Consolidated Financial Statements (unaudited)](index=4&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements%20(unaudited)) Q1 2025 unaudited financials report a $2.6 million net loss, decreased assets, negative operating cash flow, noting a DOJ investigation and revenue concentration [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to $60.2 million by March 31, 2025, primarily from reduced cash, with liabilities increasing and equity falling to $53.0 million Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2025 (unaudited) | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $19,072 | $22,056 | | Accounts receivable, net | $18,018 | $19,731 | | Inventories | $9,923 | $10,097 | | Total current assets | $54,196 | $56,738 | | Total assets | $60,210 | $62,165 | | **Liabilities & Equity** | | | | Total current liabilities | $6,725 | $5,885 | | Total liabilities | $7,176 | $6,338 | | Total stockholders' equity | $53,034 | $55,827 | | Total liabilities and stockholders' equity | $60,210 | $62,165 | [Condensed Consolidated Statements of Income (Loss)](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income%20(Loss)) Q1 2025 reported a $2.57 million net loss, a shift from prior year's income, due to 21.7% lower revenues and a 188.9% increase in R&D expenses Condensed Consolidated Statements of Income (Loss) (in thousands, except per share data) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Revenues | $8,344 | $10,663 | | Gross Profit | $4,354 | $6,662 | | Total Operating Expenses | $7,000 | $3,775 | | Research and Development | $2,606 | $926 | | Income (loss) from operations | ($2,646) | $2,887 | | Net income (loss) | ($2,572) | $2,274 | | Net income (loss) per share – diluted | ($0.16) | $0.14 | [Condensed Consolidated Statements of Stockholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders%27%20Equity) Total stockholders' equity decreased to $53.0 million by March 31, 2025, primarily due to a $2.57 million net loss and $0.3 million in stock repurchases - Key changes in stockholders' equity for Q1 2025 include a net loss of **$2.572 million** and the repurchase of stock for **$0.3 million**[18](index=18&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities was $2.7 million in Q1 2025, leading to a $3.0 million net decrease in cash, ending the quarter with $19.1 million Summary of Cash Flows (in thousands) | Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | ($2,677) | ($8,187) | | Net cash used in investing activities | ($7) | ($233) | | Net cash used in financing activities | ($300) | $0 | | **Net decrease in cash and cash equivalents** | **($2,984)** | **($8,420)** | | Cash and cash equivalents – end of period | $19,072 | $14,728 | [Notes to the Condensed Consolidated Financial Statements (unaudited)](index=8&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements%20(unaudited)) Notes detail accounting policies, Q1 2025 revenue of $6.7 million with 69% from one customer, a $15 million credit facility, and an ongoing DOJ investigation - In 2024, the company formed Sensus Healthcare Services, LLC, a wholly owned subsidiary to provide operational healthcare services, including leased equipment and radiotherapy technologists[23](index=23&type=chunk) - A single customer in the U.S. accounted for **69%** of revenue for Q1 2025 and **87%** of accounts receivable as of March 31, 2025[41](index=41&type=chunk) - The company has a **$15 million** revolving credit facility with Comerica Bank, with no borrowings outstanding as of March 31, 2025. The facility is secured by all company assets and has several covenants[66](index=66&type=chunk)[67](index=67&type=chunk) - The company is cooperating with a Department of Justice (DOJ) investigation into the billing practices of a physician who used the company's SRT-100. The company disputes any wrongdoing and is unable to estimate the potential cost[79](index=79&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=21&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes Q1 2025's 22.4% revenue decrease to lower unit sales, with gross profit margin falling to 53.0% and operating expenses, notably R&D, significantly increasing Q1 2025 vs Q1 2024 Performance (in thousands) | Metric | Q1 2025 | Q1 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Revenues | $8,344 | $10,663 | -22.4% | | Gross Profit | $4,354 | $6,662 | -34.3% | | Selling and marketing | $2,186 | $1,270 | +69.2% | | Research and development | $2,606 | $926 | +188.9% | | Net Income (Loss) | ($2,572) | $2,274 | -226.3% | - The decrease in revenue was primarily driven by a lower number of units sold to a large customer[106](index=106&type=chunk) - The increase in R&D expense was primarily due to significant lobbying costs related to billing code reimbursement, increased headcount, and product development[111](index=111&type=chunk) - Cash and cash equivalents decreased by **$3.0 million** during the quarter, from **$22.1 million** to **$19.1 million**[115](index=115&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=24&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) This section is not applicable for the reporting period - The company has indicated that this item is not applicable[129](index=129&type=chunk) [Controls and Procedures](index=25&type=section&id=Item%204.%20Controls%20and%20Procedures) As of March 31, 2025, management concluded that disclosure controls and procedures were effective, with no significant changes to internal control over financial reporting - Management, including the CEO and CFO, evaluated disclosure controls and procedures and concluded they were effective as of March 31, 2025[130](index=130&type=chunk) - No significant changes were made to internal control over financial reporting during the most recently completed fiscal quarter[131](index=131&type=chunk) PART II – Other Information [Legal Proceedings](index=26&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in ordinary course legal proceedings, with details on a Department of Justice investigation referenced in Note 6 - The company is involved in ordinary course legal proceedings and refers to Note 6, which details an ongoing DOJ investigation[134](index=134&type=chunk) [Risk Factors](index=26&type=section&id=Item%201A.%20Risk%20Factors) Investors are directed to the 2024 Annual Report for risk factors, as no new or amended risks are presented in this filing - For a discussion of risk factors, the report refers to Part I, Item 1A of the company's 2024 Annual Report[135](index=135&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=26&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales occurred in Q1 2025; the company repurchased 50,360 shares for $0.3 million under its $3 million stock repurchase program - There were no unregistered sales of securities during the three months ended March 31, 2025[136](index=136&type=chunk) Issuer Purchases of Equity Securities (Q1 2025) | Period | Total Shares Repurchased | Average Price Paid per Share | Approx. Dollar Value Remaining in Program | | :--- | :--- | :--- | :--- | | Jan 2025 | 0 | $— | $2,972,812 | | Feb 2025 | 50,360 | $5.90 | $2,672,816 | | Mar 2025 | 0 | $— | $2,672,816 | | **Total** | **50,360** | **$5.90** | | [Defaults Upon Senior Securities](index=26&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities during the period - None[141](index=141&type=chunk) [Mine Safety Disclosure](index=27&type=section&id=Item%204.%20Mine%20Safety%20Disclosure) This section is not applicable to the company - Not applicable[142](index=142&type=chunk) [Other Information](index=27&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted or terminated any Rule 10b5-1 trading plans during Q1 2025 - No directors or officers adopted or terminated any Rule 10b5-1 trading plans during the quarter[143](index=143&type=chunk) [Exhibits](index=27&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including CEO and CFO certifications and Inline XBRL documents - The exhibits filed include CEO and CFO certifications pursuant to Rule 13a-14(a) and 18 U.S.C. Section 1350, as well as Inline XBRL files[145](index=145&type=chunk)