Business Operations - The Company operates through three proprietary software platforms in the programmatic advertising industry, targeting publishers, brands, and advertising agencies [150]. - The ATOS platform engages with approximately 10 billion advertisement opportunities per day, enhancing speed and performance through AI and machine learning [155]. - The Company generates revenue through two main verticals: licensing platforms as white-label products and a managed services model [164]. - The content publisher platform allows publishers to monetize opt-in user data and advertising inventory while ensuring data privacy compliance [159]. - The Company’s data intelligence platform is believed to provide one of the most accurate solutions for data collection and analysis, utilizing proprietary technologies [157]. Financial Performance - Revenues for Q3 2023 were 177,271,adecreaseof726,952 from 904,223inQ32022,attributedtoalackofpoliticalrevenueanddownturnsincryptocurrencyandautomotivesectors[191].−CostofrevenuesinQ32023was114,174, representing 64% of revenues, compared to 936,824or10463,097, or 36% of revenues, compared to a loss of 32,601inQ32022,whichwas(41,458,136, a decrease of 781,852from2,239,988 in Q3 2022, primarily due to reduced salaries and other operational costs [195]. - Loss from operations for Q3 2023 was 1,395,039,comparedto2,272,589 in Q3 2022, indicating a focused effort on product development despite increased losses [196]. - Revenues for the first nine months of 2023 were 441,010,down2,926,336 from 3,367,346inthesameperiodof2022,againduetolackofpoliticalrevenueandsectordownturns[198].−Costofrevenuesforthefirstninemonthsof2023was281,071, or 64% of revenues, compared to 1,916,720or57159,939, or 36% of revenues, compared to 1,450,626or434,421,863, a decrease of 2,102,179from6,524,042 in the same period of 2022 [201]. - Loss from operations for the first nine months of 2023 was 4,261,924,downfrom5,073,416 in the same period of 2022, primarily due to reduced operating expenses [202]. Compliance and Financial Health - The Company received a deficiency letter from NasdaqCM regarding noncompliance with the stockholders' equity requirement of at least 2.5million[207].−AsofSeptember30,2023,theCompany′stotalstockholders′equitywas3,054,982 after adjustments from the October 2023 Loan conversion and Series G Preferred Stock issuance [211]. - The Company has a history of operating losses, raising substantial doubt about its ability to continue as a going concern [213]. - The Company plans to regain compliance with NasdaqCM listing requirements by the extended deadline of November 14, 2023 [208]. Cash Flow and Financing Activities - The Company had cash of 140,939atSeptember30,2023,withcashusedinoperatingactivitiesamountingto3,732,469 for the nine months ended September 30, 2023 [214]. - The net loss for the nine months ended September 30, 2023, was 5,220,014,offsetbystock−basedcompensationandotheradjustments[214].−TheCompanyraisednetproceedsof3,207,500 from the February 2023 public offering, which included 251,842 shares of common stock and pre-funded warrants [221]. - The Company entered into a Securities Purchase Agreement for a senior secured promissory note of 1,437,500,withanetsubscriptionamountof1,150,000 [217]. - The Company had cash flows provided by financing activities of 5,159,599,primarilyfromthesaleofcommonstockandpre−fundedwarrants[214].−MobiquityTechnologies,Inc.closedapublicofferingonJune30,2023,selling375,000sharesand1,625,000commonstockequivalentsfortotalgrossproceedsof3,000,000 [226]. - The net proceeds from the offering, after deducting placement agent fees and offering costs, were approximately 2,528,000[226].−Thecompanyused1,437,500 of the proceeds to fully satisfy its Senior Secured 20% OID Promissory Note [226]. - In July 2023, the company issued 478,334 shares upon exercise of pre-funded warrants, increasing outstanding common shares to 2,588,333 [226]. - The company granted 6,667 shares of restricted common stock to the Chairman of the Board, valued at 2.505pershare[230].−Thecompanyissued104,142sharesofrestrictedcommonstocktosettleoutstandingaccountspayabletotaling265,563, at a per share value of 2.55[230].−AsofSeptember30,2023,thecompanyreportednooff−balance−sheetarrangements[228].−Thecompanyplanstouseremainingfundsfromthepublicofferingforworkingcapital[226].−Theexercisepriceofpre−fundedwarrantsis0.0015 per share, subject to customary adjustments [226]. - The company’s stock transactions in April 2023 were based on the market price of the common stock on transaction dates [227].
