Financial Performance - Alpha Modus Holdings, Inc. reported a lack of current revenues and recurring losses from operations, raising substantial doubt about its ability to continue as a going concern [145]. - The Company had no revenue during the three months ended March 31, 2025 and 2024 [175]. - Operating expenses increased to $1,359,201 for the three months ended March 31, 2025, compared to $190,911 for the same period in 2024, primarily due to higher professional fees, insurance premiums, payroll, and investor relations expenses [176]. - The net loss for the three months ended March 31, 2025 was $308,081, compared to a net loss of $222,696 for the same period in 2024 [178]. - Net cash used in operating activities was $594,147 for the three months ended March 31, 2025, compared to $175,286 for the same period in 2024 [180]. - As of March 31, 2025, the Company had cash of $148,277 and estimated it would need to raise a minimum of $2,500,000 to maintain its growth plan [179]. Business Developments - The company completed a business combination with Alpha Modus, Corp. on December 13, 2024, changing its name to Alpha Modus Holdings, Inc. [139]. - Alpha Modus entered into a license agreement with GZ6G Technologies Corp. on January 11, 2024, aiming to deploy services by the end of 2024 and expand offerings in additional industries in 2024 [141]. - The company has a goal to expand its event venue service offerings by late 2025, indicating a focus on market expansion [141]. - The Company entered into a Patent Monetization Agreement on April 28, 2025, to provide litigation funding related to patent litigation against Broadcom Inc. [167]. Securities and Financing - The company entered into a securities purchase agreement on October 23, 2024, for a secured convertible promissory note of $2,890,000, with a net purchase price of $2,600,000 [152]. - The note will accrue interest at 10% per annum and is convertible into Class A common stock at a price equal to 90% of the lowest daily volume-weighted average price during the five trading days preceding conversion [157]. - The outstanding balance of the Note was increased to $3,597,501.71 as of April 28, 2025, with monthly payments set at $582,000 plus accrued interest [161]. - The company is required to reserve 7,500,000 shares of its common stock for issuance under the note and must add shares in increments of 100,000 when requested by the investor [157]. - The company has the potential to issue up to 2,200,000 additional shares of common stock as Earnout Shares based on stock performance milestones [148]. Legal Matters - A patent infringement action was initiated against The Kroger Company, which has since been settled, and further lawsuits were filed against Brookshire Grocery Co., Wakefern Food Corporation, and others [142]. Company Classification - The Company is classified as an "emerging growth company" and plans to take advantage of the extended transition period for new or revised financial accounting standards [183]. - The company is classified as a smaller reporting company and is not required to provide additional market risk disclosures [187].
Insight Acquisition Corp.(INAQU) - 2025 Q1 - Quarterly Report