Revenue Performance - Revenues from continuing operations increased by 276% from $127,000 in Q1 2024 to $477,000 in Q1 2025[111] - Revenues from discontinued operations decreased by 24% from $444,000 in Q1 2024 to $339,000 in Q1 2025[115] - The company recorded $326 in IT Services Revenues from related-party transactions during the three months ended March 31, 2025[145] - No revenues were recorded in discontinued operations for two agreements with Everli S.p.A. during the three months ended March 31, 2025[144] Expense Management - Total operating expenses decreased by 52% from $1,405,000 in Q1 2024 to $675,000 in Q1 2025[106] - Cost of revenues from continuing operations increased by 85% from $175,000 in Q1 2024 to $323,000 in Q1 2025[118] - Cost of revenues from discontinued operations decreased by 92% from $908,000 in Q1 2024 to $73,000 in Q1 2025[119] - General and administrative expenses from continuing operations decreased by 71% from $1,230,000 in Q1 2024 to $352,000 in Q1 2025[121] - Interest expenses, net from continuing operations decreased by 78% from $806,000 in Q1 2024 to $179,000 in Q1 2025[125] Financial Position - Net loss from continuing operations improved from $3,410,000 in Q1 2024 to $378,000 in Q1 2025, a reduction of 89%[107] - As of March 31, 2025, the company had cash and cash equivalents of $100[130] - Financial liabilities increased by 4% or $851 from $23,851 as of December 31, 2024, to $24,702 as of March 31, 2025[135] - The company has a total of $10,612 in current financial liabilities from continuing operations as of March 31, 2025[134] Business Strategy - The company entered into Securities Purchase Agreements to sell its mobility and media businesses due to high costs and cash burn[100] - The company shifted its core business focus from micromobility and media services to software services in 2024[98] - The company plans to continue funding operations and expansion through debt and equity financing over the next twelve months[131] Legal and Compliance - The company is in default for non-payment under the terms of several loans, including a judgment for approximately $2,454 related to an unsecured loan[136] - The company entered into a Stock Purchase Agreement with Palella Holdings LLC to sell 100% of the equity interest of European entities, pending court approval[140] - As of March 31, 2025, the company had total outstanding securities of 92,214,637 common shares and 3,712 warrants, restricted stocks, and stock options[138] - The company has the right to sell up to $25 million of its shares under a Standby Equity Purchase Agreement with YA II PN, Ltd[130]
Micromobility.com (MCOM) - 2025 Q1 - Quarterly Report