CISO Global Inc
For the period ended Sep 30, 2024. Filed Nov 18, 2024.
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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 18, 2024
CISO$0.17-4.3%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
Condensed Consolidated Statements of Operations and Comprehensive Loss
| Three Months Ended | Nine Months Ended | |||
|---|---|---|---|---|
| September 30, 2024 | September 30, 2023 | September 30, 2024 | September 30, 2023 | |
| Revenue: | ||||
| Security managed services | $6,965,518 | $7,659,301 | $21,204,477 | $22,714,377 |
| Professional services | 437,209 | 1,025,225 | 1,835,932 | 3,055,607 |
| Cybersecurity software | 108,570 | - | 304,727 | - |
| Total revenue | 7,511,297 | 8,684,526 | 23,345,136 | 25,769,984 |
| Cost of revenue: | ||||
| Security managed services | 2,319,234 | 2,370,100 | 7,207,886 | 7,552,415 |
| Professional services | 84,947 | 191,795 | 375,111 | 445,583 |
| Cybersecurity software | 29,939 | - | 88,708 | - |
| Cost of payroll | 2,982,871 | 3,934,583 | 9,641,597 | 12,356,969 |
| Stock based compensation | 1,060,238 | 317,851 | 3,357,635 | 3,783,116 |
| Total cost of revenue | 6,477,229 | 6,814,329 | 20,670,937 | 24,138,083 |
| Total gross profit | 1,034,068 | 1,870,197 | 2,674,199 | 1,631,901 |
| Operating expenses: | ||||
| Professional fees | 223,149 | 645,176 | 1,025,410 | 2,696,815 |
| Advertising and marketing | 1,339 | 116,314 | 34,099 | 269,935 |
| Selling, general and administrative | 3,083,920 | 4,395,127 | 10,667,794 | 13,909,737 |
| Stock based compensation | 1,244,664 | 677,231 | 3,604,406 | 6,421,245 |
| Impairment of goodwill | - | - | - | 31,776,820 |
| Total operating expenses | 4,553,072 | 5,833,848 | 15,331,709 | 55,074,552 |
| Loss from operations | (3,519,004) | (3,963,651) | (12,657,510) | (53,442,651) |
| Other income (expense): | ||||
| Other income (expense) | 917,852 | 253,166 | 882,934 | 283,396 |
| Interest expense, net | (1,237,301) | (621,925) | (2,611,067) | (1,528,123) |
| Total other income (expense) | (319,449) | (368,759) | (1,728,133) | (1,244,727) |
| Loss from continuing operations before income taxes | (3,838,453) | (4,332,410) | (14,385,643) | (54,687,378) |
| Benefit from income taxes | - | - | - | - |
| Loss from continuing operations | (3,838,453) | (4,332,410) | (14,385,643) | (54,687,378) |
| Gain/(loss) from discontinued operations, net of income taxes(1) | 160,567 | (1,174,853) | (4,338,318) | (14,990,237) |
| Net Loss | (3,677,886) | (5,507,263) | (18,723,961) | (69,677,615) |
| Foreign currency translation adjustment | (680) | (1,392,395) | (3,327) | 228,331 |
| Comprehensive loss | $(3,678,566) | (6,899,658) | (18,727,288) | $(69,449,284) |
| Net loss per common share - basic and diluted: | ||||
| Continuing operations | $(0.33) | $(0.37) | $(1.20) | $(5.04) |
| Discontinued operations | 0.01 | (0.10) | (0.36) | (1.38) |
| $(0.32) | $(0.47) | $(1.56) | $(6.42) | |
| Weighted average shares outstanding - basic | 11,693,367 | 11,809,741 | 12,001,220 | 10,856,255 |
| Weighted average shares outstanding - diluted | 11,693,367 | 11,809,741 | 12,001,220 | 10,856,255 |
| (1) | Includes recognized loss on disposal of $3,189,232 for the nine months ended September 30, 2024 |
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