VerifyMe Inc
For the period ended Dec 31, 2023. Filed Mar 29, 2024.
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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.
FY2023 · Filed Mar 29, 2024
VRME$8.98+10.3%Stored close · as of Sep 30, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Years Ended | ||||
|---|---|---|---|---|
| December 31, 2023 · December 31, 2022 | ||||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||
| Net loss | $(3,390) | $(14,398) | ||
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||||
| Allowance for bad debt | 139 | 37 | ||
| Stock based compensation | 200 | 145 | ||
| Loss on equity investment | 100 | 10,932 | ||
| Change in fair value of contingent consideration | (201) | - | ||
| Fair value of restricted stock awards and restricted stock units issued in exchange for services | 1,475 | 1,323 | ||
| Loss on disposal of equipment | 2 | - | ||
| Impairments | 190 | - | ||
| Unrealized gain on equity investment | - | (12) | ||
| Gain on extinguishment of debt | - | (326) | ||
| Amortization and depreciation | 1,134 | 770 | ||
| Unrealized gain on foreign currency transactions | (25) | - | ||
| Changes in operating assets and liabilities: | ||||
| Accounts receivable | 1,295 | (3,352) | ||
| Unbilled revenue | (96) | (1,185) | ||
| Inventory | (57) | (29) | ||
| Prepaid expenses and other current assets | 9 | (77) | ||
| Accounts payable, other accrued expenses and net change in operating leases | (531) | 3,621 | ||
| Net cash provided by (used) in operating activities | 244 | (2,551) | ||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||
| Equity received from SPAC equity investment | - | 32 | ||
| Purchase of patents | (62) | (40) | ||
| Leasehold improvements | (8) | - | ||
| Purchase of office equipment | (27) | - | ||
| Cash paid in business combination | (363) | (7,500) | ||
| Deferred implementation costs | (58) | (140) | ||
| Capitalized software costs | (677) | (236) | ||
| Net cash used in investing activities | (1,195) | (7,884) | ||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||
| Proceeds from public offering of securities | $ | - | $4,528 | |
| Proceeds from line of credit | 1,800 | - | ||
| Proceeds from convertible debt | 1,100 | - | ||
| Proceeds from issuance of note payable | - | 2,000 | ||
| Exercise of pre-funded warrants | - | 1 | ||
| Proceeds from SPP Plan | 80 | 102 | ||
| Tax withholding payments for employee stock-based compensation in exchange for shares surrendered | (36) | (34) | ||
| Increase in treasury shares (share repurchase program) | (10) | (291) | ||
| Repayment of debt and line of credit | (2,300) | (1,882) | ||
| Net cash provided by financing activities | 634 | 4,424 | ||
| Effect of exchange rate changes on cash | 1 | - | ||
| NET DECREASE IN CASH AND | ||||
| CASH EQUIVALENTS INCLUDING RESTRICTED CASH | (316) | (6,011) | ||
| CASH AND CASH EQUIVALENTS INCLUDING RESTRICTED CASH- BEGINNING OF PERIOD | 3,411 | 9,422 | ||
| CASH AND CASH EQUIVALENTS INCLUDNG RESTRICTED CASH - END OF PERIOD | $3,095 | $3,411 | ||
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||||
| Cash paid during the period for: | ||||
| Interest | $165 | $33 | ||
| Income taxes | $ | - | $ | - |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES | ||||
| Initial recognition of right-of-use asset and lease liability during the period | $ | - | $552 | |
| Change in fair value of interest rate, swap | $7 | $(3) | ||
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