FORUM MARKETS Inc
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 31, 2025
FRMM$2.82-2.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
(Expressed in US Dollars)
| For the Years Ended | ||||
|---|---|---|---|---|
| December 31, | ||||
| 2024 · 2023 | ||||
| Cash Flows from Operating Activities | ||||
| Net Loss | $(6,168,177) | $(19,935,112) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||
| Stock-based compensation | ||||
| Shares issued for services | - | 89,189 | ||
| Amortization of stock options and restricted stock units | 308,169 | 2,194,135 | ||
| Depreciation and amortization | 58,277 | 105,675 | ||
| Loss on asset impairment | 1,526,542 | 9,063,000 | ||
| Change in fair value of derivative liabilities | (58) | (75,323) | ||
| Change in fair value of preferred stock liability | 1,577,305 | - | ||
| Gain on settlement of liabilities | (222,802) | - | ||
| Deferred tax benefit | (292,417) | (2,349,683) | ||
| Changes in operating assets and liabilities: | ||||
| Prepaid expenses and other current assets | 1,874,958 | 337,282 | ||
| Accounts payable | (243,524) | 230,402 | ||
| Accounts payable - related parties | 417,273 | 56,008 | ||
| Accrued expenses | (316,113) | (440,621) | ||
| Accrued expenses - related parties | - | (197,175) | ||
| Total adjustments | 4,687,610 | 9,012,889 | ||
| Net Cash Used In Operating Activities | (1,480,567) | (10,922,223) | ||
| Cash Flows from Financing Activities | ||||
| Proceeds from exercise of pre-funded warrants from the Amendment to August 2023 Offering | 489 | - | ||
| Proceeds from sale of December 2024 Offering stock and warrants | 2,572,789 | - | ||
| Proceeds from the exercise of warrants | 2,797,936 | - | ||
| Proceeds from sale of April 2023 Offering stock and warrants | - | 2,999,882 | ||
| Proceeds from sale of August 2023 Offering stock and warrants | - | 2,999,606 | ||
| Proceeds from exercise of April 2023 Offering pre-funded warrants | - | 117 | ||
| Proceeds from exercise of August 2023 Offering pre-funded warrants | - | 395 | ||
| Proceeds from the repricing of common shares and pre-funded warrants in the August 2023 Offering | - | 830,769 | ||
| Proceeds from loans payable | - | 969,322 | ||
| Payment of offering costs in connection with April 2023 Offering stock and warrants | - | (279,994) | ||
| Payment of offering costs in connection with August 2023 Offering stock and warrants | - | (294,976) | ||
| Payment of offering costs in connection with August 2023 sale of common stock and common stock warrants | - | (59,846) | ||
| Repayment of loans payable | (1,333,499) | (1,257,388) | ||
| Net cash provided by financing activities | 4,037,715 | 5,907,887 | ||
| Effect of Exchange Rate Changes on Cash | 52,194 | 20,025 | ||
| Net Decrease In Cash | 2,609,342 | (4,994,311) | ||
| Cash - Beginning of Period | 1,975,799 | 6,970,110 | ||
| Cash - End of Period | $4,585,141 | $1,975,799 | ||
| Supplemental Disclosures of Cash Flow Information: | ||||
| Cash paid during the period for income taxes | $ | - | $ | - |
| Cash paid during the period for interest expense | $12,078 | $21,722 | ||
| Non cash investing and financing activities | ||||
| Common stock issued for settlement of liabilities | $684,671 | $ | - | |
| Prepaid expense financed with notes payable | $777,702 | $ | - | |
| Warrants and Series B Convertible Preferred Stock issued for asset acquisition | $7,622,041 | - | ||
| Deemed dividend from warrant inducement | $8,011,510 | $ | - | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.