Serve Robotics Inc DE
For the period ended Jun 30, 2024. Filed Aug 13, 2024.
View on SEC.govAbout this filing
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 13, 2024
SERV$3.11-8.3%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 Cash Flows
Unaudited Condensed Consolidated Statements of Cash Flows
For the Six Months Ended June 30, 2024 and 2023
| Six Months EndedJune 30, | |||||
|---|---|---|---|---|---|
| 2024 · 2023 | |||||
| Cash flows from operating activities: | |||||
| Net loss | $(18,075,338) | $(10,104,378) | |||
| Adjustments to reconcile net loss to net cash used in operating activities: | |||||
| Depreciation | 27,500 | 931,279 | |||
| Stock-based compensation | 7,735,469 | 200,872 | |||
| Amortization of debt discount | 1,677,942 | 466,706 | |||
| Change in fair value of derivative liability | 221,560 | - | |||
| Change in fair value of simple agreements for future equity | - | 1,236,912 | |||
| Interest on recourse loan | - | (2,504) | |||
| Changes in operating assets and liabilities: | |||||
| Accounts receivable | (90,177) | 23,697 | |||
| Inventory | 65,060 | (4,704) | |||
| Prepaid expenses | (443,026) | 16,253 | |||
| Escrow receivable | (180,000) | - | |||
| Accounts payable | (663,046) | 704,870 | |||
| Accrued liabilities | (120,231) | (36,045) | |||
| Deferred revenue | 52,863 | - | |||
| Right of use liabilities, net | (28,818) | (23,163) | |||
| Net cash used in operating activities | (9,820,242) | (6,590,205) | |||
| Cash flows from investing activities: | |||||
| Purchase of property and equipment | (798,322) | - | |||
| Net cash used in investing activities | (798,322) | - | |||
| Cash flows from financing activities: | |||||
| Proceeds from simple agreement for future equity | - | 2,666,953 | |||
| Proceeds from convertible notes payable | 4,844,625 | 2,798,410 | |||
| Proceeds from note payable, related party | - | 399,000 | |||
| Exercise of warrants | 5,907 | - | |||
| Exercise of options | 8,757 | - | |||
| Proceeds from issuance of common stock pursuant to offering, net of offering costs | 35,849,136 | - | |||
| Repayments of note payable | (500,000) | (500,000) | |||
| Repayments of notes payable, related party | (70,000) | - | |||
| Deferred offering costs | - | (352,617) | |||
| Repayment of lease liability financing | (746,583) | (1,118,348) | |||
| Net cash provided by financing activities | 39,391,842 | 3,893,398 | |||
| Net change in cash and cash equivalents | 28,773,278 | (2,696,807) | |||
| Cash and cash equivalents at beginning of period | 6,756 | 2,715,719 | |||
| Cash and cash equivalents at end of period | $28,780,034 | $18,912 | |||
| Supplemental disclosure of cash flow information: | |||||
| Cash paid for income taxes | $ | - | $ | - | |
| Cash paid for interest | 50,097 | 79,866 | |||
| Supplemental disclosure of non-cash investing and financing activities: | |||||
| Conversion of convertible note and derivative into common stock | $6,803,600 | $ | - | ||
| Vested restricted stock purchased with recourse notes | $ | - | $6,869 | ||
| Derivative liability in connection with convertible note | $ | - | $601,000 | ||
| Debt discount issued as accrued liability | $ | - | $63,840 | ||
See accompanying notes to the unaudited condensed consolidated financial statements
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