Inuvo Inc
For the period ended Sep 30, 2024. Filed Nov 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.
Sep 30, 2024 · Filed Nov 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 Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating activities: | ||
| Net loss | $(5,903,142) | $(7,988,323) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 1,951,196 | 1,984,139 |
| Depreciation-Right of Use Assets - Financing | 48,317 | 77,790 |
| Stock based compensation | 1,087,533 | 1,471,683 |
| Derecognition of contingency and grant | (35,000) | — |
| Amortization of financing fees | 20,000 | 5,833 |
| Impairment and amortization of referral and support services agreement advance | 800,000 | 225,000 |
| Adjustment to expected losses on accounts receivable | (1,454,533) | 747,772 |
| Deferred income tax expense | 5,352 | — |
| Loss (gain) on marketable securities | — | (14,418) |
| Stock warrant expense | — | (8,130) |
| Change in operating assets and liabilities: | ||
| Accounts receivable | 1,899,029 | 212,393 |
| Right of use assets - operating lease | 169,253 | — |
| Prepaid expenses and other current assets, and other assets | (131,428) | (172,679) |
| Accrued expenses and other liabilities | 940,076 | 3,279,560 |
| Accounts payable | 656,477 | (278,336) |
| Lease liability - operating lease | (153,475) | — |
| Net cash used in operating activities | (100,345) | (457,716) |
| Investing activities: | ||
| Purchases of equipment and capitalized development costs | (1,409,762) | (1,259,217) |
| Proceeds from the sale of marketable securities | — | 2,288,873 |
| Net cash provided by (used in) investing activities | (1,409,762) | 1,029,656 |
| Financing activities: | ||
| Gross proceeds from line of credit | — | 592,868 |
| Repayments on line of credit | — | (592,868) |
| Principal payments on finance lease obligations | (44,766) | (84,138) |
| 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 | (343,526) | 3,475,126 |
| Net change – cash | (1,853,633) | 4,047,066 |
| Cash and cash equivalent, beginning of year | 4,440,454 | 2,931,415 |
| Cash and cash equivalent, end of period | $2,586,821 | $6,978,481 |
| Supplemental information: | ||
| Interest paid | $221,534 | $85,488 |
| Acquisition of right of use asset for operating lease liability | $335,286 | $1,105,148 |
| Issuance of restricted stock units for accrued incentive liability | $535,119 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.