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 from $1,156,000 in the same period of 2024[141]. - The Company recorded $610 and $1,563 as IT Services Revenues - Related Party for the three and nine months ended September 30, 2025, respectively[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]. - 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]. - The Company recorded a gain of $260 on extinguishment/issuance of financial debts related to the amendment of the 2025 Convertible note[158]. Expenses - Total operating expenses for the three months ended September 30, 2025, were $830,000, slightly higher than $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, down from $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, compared to $307,000 in 2024[147]. - 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]. - 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]. Financial Position - Total Financial Liabilities, net as of September 30, 2025, amounted to $11,308 for continuing operations and $15,639 for discontinued operations[166]. - As of September 30, 2025, the Company had cash and cash equivalents of $15[161]. - 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]. Legal and Settlement - 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's financial statements are prepared in accordance with U.S. GAAP, requiring estimates and assumptions that may affect reported amounts[182]. - No critical accounting estimates were identified that would materially impact the financial condition or results of operations[183]. - The Company currently has no off-balance sheet arrangements as defined by SEC regulations[184]. - There are no applicable quantitative and qualitative disclosures about market risks[185]. Business Strategy - The company entered into Securities Purchase Agreements to sell its mobility and media businesses due to high costs and cash burn[128]. - The company shifted its core business focus from micromobility and media services to software services during 2024[126]. - The Company plans to fund operations and expansion through debt and equity financing for the next twelve months[162]. - As of September 30, 2025, the Company had 92,214,637 Class A Common Shares outstanding[167].
HELBIZ(HLBZ) - 2025 Q3 - Quarterly Report