Inuvo Inc
For the period ended Jun 30, 2024. Filed Aug 8, 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.
Jun 30, 2024 · Filed Aug 8, 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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Consolidated Statements of Cash Flows
| For the Six Months Ended June 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating activities: | ||
| Net loss | $(3,858,849) | $(6,817,343) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 1,350,004 | 1,317,203 |
| Depreciation-Right of Use Assets - Financing | 36,115 | 58,013 |
| Stock based compensation | 714,993 | 935,145 |
| Derecognition of contingency and grant | (5,000) | — |
| Amortization of financing fees | 3,333 | 2,084 |
| Amortization of referral and support services agreement advance | 150,000 | 150,000 |
| Adjustment to expected losses on accounts receivable | (1,354,533) | 322,320 |
| Deferred income tax benefit | 5,353 | — |
| Loss (gain) on marketable securities | — | (14,418) |
| Stock warrant expense | — | (8,598) |
| Change in operating assets and liabilities: | ||
| Right of use assets - operating lease | (223,383) | — |
| Accounts receivable | 2,500,163 | 1,913 |
| Prepaid expenses and other current assets | (36,917) | 2,126 |
| Accrued expenses and other liabilities | (324,358) | 3,069,680 |
| Accounts payable | (356,230) | (1,851,978) |
| Lease liability - operating lease | 239,139 | — |
| Net cash used in operating activities | (1,160,170) | (2,833,853) |
| Investing activities: | ||
| Purchases of equipment and capitalized development costs | (933,955) | (836,428) |
| Proceeds from the sale of marketable securities | — | 2,288,873 |
| Net cash provided by/(used in) investing activities | (933,955) | 1,452,445 |
| Financing activities: | ||
| Gross proceeds from line of credit | — | 592,868 |
| Repayments on line of credit | — | (592,868) |
| Payments on finance lease obligations | (35,665) | (64,159) |
| Proceeds from at-the-market sales | — | 61,136 |
| Capital raise, net of issuance costs | — | 3,665,000 |
| Net taxes paid on restricted stock unit grants exercised | (298,760) | (166,872) |
| Net cash provided by/(used in) financing activities | (334,425) | 3,495,105 |
| Net change – cash | (2,428,550) | 2,113,697 |
| Cash and cash equivalent, beginning of year | 4,440,454 | 2,931,415 |
| Cash and cash equivalent, end of period | $2,011,904 | $5,045,112 |
| Supplemental information: | ||
| Interest paid | $96,645 | $67,532 |
| Acquisition of right of use asset for operating lease liability | $335,286 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.