Inuvo Inc
For the period ended Dec 31, 2023. Filed Feb 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 Feb 29, 2024
INUV$0.38-3.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| 2023 | 2022 | |
|---|---|---|
| Operating activities: | ||
| Net loss | $(10,389,653) | $(13,106,539) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 2,655,368 | 2,598,957 |
| Amortization of Right of Use Assets-Finance Leases | 96,190 | 103,926 |
| Stock based compensation | 1,986,296 | 2,350,314 |
| (Gain) Loss on marketable securities | (14,668) | 435,554 |
| Amortization of financing fees | 8,333 | 2,500 |
| Provision for doubtful accounts | 786,549 | 1,265,143 |
| Stock warrant (income) expense | (7,905) | 33,043 |
| Deferred income tax benefit | (17,764) | — |
| Derecognition of contingencies and grant | — | (10,000) |
| Change in operating assets and liabilities: | ||
| Accounts receivable | 1,106,387 | (3,119,222) |
| Referral and support services agreement advance | 300,000 | 300,000 |
| Prepaid expenses, other current assets and other assets | (263,569) | 578,009 |
| Accounts payable | (1,612,682) | 3,200,086 |
| Accrued expenses and other liabilities | 2,813,043 | (205,762) |
| Net cash used in operating activities | (2,554,075) | (5,573,991) |
| Investing activities: | ||
| Purchases of equipment and capitalized development costs | (1,682,683) | (1,689,869) |
| Purchase of marketable securities | — | (1,693,963) |
| Proceeds from the sale of marketable securities | 2,288,873 | 1,717,707 |
| Net cash provided by (used in) investing activities | 606,190 | (1,666,125) |
| Financing activities: | ||
| Gross proceeds from line of credit | 592,868 | — |
| Repayments on line of credit | (592,868) | — |
| Proceeds from sale of common stock, net of expenses | 3,665,000 | — |
| Payments on finance/capital leases | (102,340) | (107,539) |
| Net taxes paid on RSU grants exercised | (166,872) | (196,894) |
| Proceeds from at-the-market sales | 61,136 | — |
| Net cash provided by/(used in) financing activities | 3,456,924 | (304,433) |
| Net change – cash | 1,509,039 | (7,544,549) |
| Cash, beginning of year | 2,931,415 | 10,475,964 |
| Cash, end of year | $4,440,454 | $2,931,415 |
| Supplemental information: | ||
| Interest paid | $105,148 | $18,612 |
| Non-cash investing and financing activities: | ||
| Assets purchased under finance lease obligations | $— | $70,774 |
| Acquisition of right of use asset for operating lease liability | $1,105,148 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.