VerifyMe Inc
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 2024
VRME$8.98+10.3%Stored close · as of Sep 30, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows (Unaudited)
Consolidated Statements of Cash Flows
(In thousands)
| Nine months ended | ||
|---|---|---|
| September 30, 2024 | September 30, 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net loss | $(3,323) | $(3,392) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities : | ||
| Allowance for bad debt | 8 | 49 |
| Stock based compensation | 174 | 46 |
| Unrealized loss on equity investment | - | 2 |
| Change in fair value of contingent consideration | (836) | (136) |
| Fair value of restricted stock awards and restricted stock units issued in exchange for services | 1,009 | 1,053 |
| Loss on disposal of equipment | - | 2 |
| Goodwill and Intangible Impairment | 2,261 | 34 |
| Amortization and depreciation | 905 | 835 |
| Unrealized loss on foreign currency transactions | (45) | 16 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 1,806 | 3,015 |
| Unbilled revenue | 495 | 300 |
| Inventory | 19 | 38 |
| Prepaid expenses and other current assets | 55 | 51 |
| Accounts payable, other accrued expenses and net change in operating leases | (2,226) | (2,512) |
| Net cash provided by (used in) operating activities | 302 | (599) |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchase of patents | (12) | (51) |
| Leasehold improvements | - | (8) |
| Purchase of office equipment | (7) | (24) |
| Cash paid in business combination | - | (363) |
| Deferred implementation costs | - | (58) |
| Capitalized software costs | (334) | (576) |
| Net cash used in investing activities | (353) | (1,080) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds from line of credit | - | 800 |
| Proceeds from convertible debt | - | 1,100 |
| Proceeds from SPP Plan | 21 | 80 |
| Contingent consideration payments | (36) | - |
| Tax withholding payments for employee stock-based compensation in exchange for shares surrendered | (47) | (18) |
| Increase in treasury shares (share repurchase program) | (1) | (10) |
| Repayment of debt and line of credit | (375) | (675) |
| Net cash (used in) provided by financing activities | (438) | 1,277 |
| Effect of exchange rate changes on cash | 4 | (2) |
| NET DECREASE IN CASH AND CASH EQUIVALENTS | (485) | (404) |
| CASH AND CASH EQUIVALENTS INCLUDING RESTRICTED CASH- BEGINNING OF PERIOD | 3,095 | 3,411 |
| CASH AND CASH EQUIVALENTS INCLUDING RESTRICTED CASH- END OF PERIOD | $2,610 | $3,007 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||||
|---|---|---|---|---|
| Cash paid during the period for: | ||||
| Interest | $160 | $129 | ||
| Income taxes | $ | - | $ | - |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES | ||||
| Change in fair value of interest rate, swap | $7 | $4 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.