Nixxy, Inc.
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
View on SEC.govAbout this filing
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.
FY2024 · Filed Mar 31, 2025
NIXX$0.20-4.7%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
Item 8. Consolidated Statements of Cash Flows
| Year Ended | ||||
|---|---|---|---|---|
| December 31, · December 31, | ||||
| 2024 · 2023 | ||||
| Cash Flows From Operating Activities | ||||
| Net loss | $(22,593,628) | $(6,659,899) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||
| Depreciation and amortization expense | 1,054,996 | 1,302,384 | ||
| Bad debt recovery | (84,377) | (143,774) | ||
| Impairment expense | 4,720,624 | - | ||
| Loss on shares issued in settlement of consulting agreement | 152,629 | - | ||
| Gain or loss on debt settlement | 8,521,149 | - | ||
| Equity based compensation expense | 5,614,919 | 1,490,903 | ||
| Change in fair value of warrant liability | (13,459) | (96,000) | ||
| Loss on adjustment of fair value of marketable securities | 239,869 | 170,383 | ||
| Gain on assets sale | (1,763,430) | (552,527) | ||
| Amortization of debt discount and debt costs | 177,072 | 1,346,280 | ||
| Loss on loan amendment | - | 193,355 | ||
| Factoring discount fee and interest | - | 22,009 | ||
| Changes in assets and liabilities: | ||||
| Decrease in accounts receivable | 457,958 | 1,967,824 | ||
| (Increase) decrease in prepaid expenses and other current assets | (207,193) | 95,623 | ||
| Decrease in accounts payable and accrued liabilities | (320,192) | (18,489) | ||
| Decrease in deferred revenue | (54,452) | (65,371) | ||
| Net cash used in operating activities | (4,097,515) | (947,299) | ||
| Cash Flows from Investing Activities: | ||||
| Proceeds from sale of assets | 1,763,430 | - | ||
| Net cash provided by investing activities | 1,763,430 | - | ||
| Cash Flows from Financing Activities: | ||||
| Issuance of common stock, net of fees | 4,330,975 | 785,509 | ||
| Repayments of notes | (1,071,552) | (668,478) | ||
| Gross proceeds from exercise of the warrants | 599,244 | 315,178 | ||
| Proceeds from ERC advances | - | 450,000 | ||
| Repayment of ERC advances | - | (450,000) | ||
| Proceeds from factoring agreement | - | 871,821 | ||
| Repayments of factoring agreement | - | (215,127) | ||
| Purchase of preferred shares pursuant to recapitalization | - | (80,000) | ||
| Net cash provided by financing activities | 3,858,667 | 1,008,903 | ||
| Net increase in cash | 1,524,582 | 61,604 | ||
| Cash, beginning of year | 1,008,408 | 946,804 | ||
| Cash, end of year | $2,532,990 | $1,008,408 | ||
| Supplemental disclosures of cash flow information: | ||||
| Cash paid during the year for interest | $150,461 | $323,141 | ||
| Cash paid during the year for income taxes | $ | - | $ | - |
| Supplemental schedule of non-cash investing and financing activities: | ||||
| Issuance of common stock issued upon purchase of intangible assets | $647,055 | $ | - | |
| Warrants issued in connection with purchase of intangible assets | $480,358 | $ | - | |
| Issuance of common stock issued upon conversion of note payable | $273,673 | $ | - | |
| Issuance of common stock from conversion of Preferred stock, Series E | $9 | $ | - | |
| Issuance of common stock from conversion of warrants | $592,056 | $ | - | |
| Issuance of common stock for debt settlements | $2,705,717 | $ | - | |
| Accounts receivable owed under factoring agreement collected directly by factor | $ | - | $959,980 | |
| Deemed dividends | $ | - | $503,642 | |
| Offering costs as a result of modification of warrants to induce exercise | $ | - | $10,400 | |
| Financing of insurance premium | $ | - | $92,174 | |
| Debt discount on loan amendment | $ | - | $50,000 | |
| Transfer of accrued interest to loan principal upon loan amendment | $ | - | $80,555 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.