Revenue and Operations - For the three months ended September 30, 2025, revenue from related parties increased by 35% to $610,000 compared to $451,000 in the same period of 2024[136]. - Revenues from discontinued operations for the nine months ended September 30, 2025, decreased by 71% to $339,000 compared to $1,156,000 in the same period of 2024[141]. - During the nine months ended September 30, 2025, the Company recorded IT Services Revenues - Related Party of $1,563, compared to $977 during the same period of 2024[174]. Financial Performance - The net loss from continuing operations for the nine months ended September 30, 2025, was $1,434,000, a significant improvement from a loss of $6,352,000 in the same period of 2024[136]. - Total operating expenses for the three months ended September 30, 2025, were $830,000, slightly up from $807,000 in the same period of 2024[136]. - General and administrative expenses from continuing operations decreased by 16% to $418,000 for the three months ended September 30, 2025, compared to $500,000 in 2024[151]. - The cost of revenues from continuing operations increased by 34% to $412,000 for the three months ended September 30, 2025, from $307,000 in 2024[147]. - Non-operating income (expenses), net from continuing operations decreased by 166% or $1,508 comparing the three months ended September 30, 2025 with the three months ended September 30, 2024[154]. - Interest expenses decreased by $660, or 81%, from $814 for the three months ended September 30, 2024, to $154 for the three months ended September 30, 2025[155]. Discontinued Operations - The total cost of revenues from discontinued operations decreased by 86% to $35,000 for the three months ended September 30, 2025, from $259,000 in 2024[149]. - General and administrative expenses from discontinued operations decreased by $347 or 91% from $381 for the three months ended September 30, 2024, to $34 for the three months ended September 30, 2025[153]. Financial Liabilities and Capital Needs - As of September 30, 2025, the Company had total financial liabilities, net of $11,308 from continuing operations and $15,639 from discontinued operations[166]. - The Company recorded short-term financial liabilities amounting to $2,454 related to a court judgment awarded to Bernheim Investment Fund SICAV[180]. - The Company is in default for non-payment under the terms of the Secured Convertible loan, Promissory notes, and Unsecured loans as of September 30, 2025[166]. - As of September 30, 2025, the Company had cash and cash equivalents of $15, indicating a need for additional capital to fund operations and expansion[161]. - The Company plans to continue funding operations and expansion through debt and equity financing for the next twelve months[162]. Corporate Actions and Settlements - The company entered into Securities Purchase Agreements to sell its mobility and media businesses due to high costs and cash burn[128]. - The Company agreed to settle the judgment with Bernheim for a payment of €1,075, which has been paid[180]. - The range of potential loss for certain claims is estimated between $0 to $300[181]. Accounting and Compliance - The Company has not identified any critical accounting estimates that would materially impact its financial condition or results of operations[183]. - There are no off-balance sheet arrangements currently in place for the Company[184]. - The financial statements are prepared in accordance with U.S. GAAP, requiring estimates and assumptions that may affect reported amounts[182]. - The Company has authorized the issuance of up to 900,000,000 shares of Class A common stock and 100,000,000 shares of preferred stock as of September 30, 2025[168]. - The Company recorded a gain on extinguishment/issuance of financial debts amounting to $260 related to the amendment of the 2025 Convertible note[158]. - The Company recorded a non-recurring expense of $222,000 related to non-income taxes for the nine months ended September 30, 2025[151].
Micromobility.com (MCOM) - 2025 Q3 - Quarterly Report