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Midas Edge

Serve Robotics Inc DE

For the period ended Sep 30, 2024. Filed Nov 7, 2024.

View on SEC.gov

About 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.

Sep 30, 2024 · Filed Nov 7, 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 exhibits
Contents

Condensed Consolidated Statements of Stockholders’ Equity (Deficit)

Unaudited Condensed Consolidated Statements of Changes in Stockholders’ Equity (Deficit)

For the Nine Months Ended September 30, 2023

Series SeedPreferred Stock · Series Seed-1Preferred Stock · Series Seed-2Preferred Stock · Series Seed-3Preferred Stock · Common Stock · AdditionalPaid-inCapital · SubscriptionReceivable · AccumulatedDeficit · TotalStockholders’Equity(Deficit)
Shares · Amount · Shares · Amount · Shares · Amount · Shares · Amount · Shares · Amount
Balances at December 31, 20223,091,672$3092,440,411$2442,088,696$209357,836$366,826,352$683$31,232,737$(165,719)$(43,520,645)(12,452,146)
Vested restricted stock purchased with recourse notes--------2,820-3,436(1,202)-2,234
Restricted stock awards repurchased--------(238,625)(24)20--(4)
Stock-based compensation----------93,943--93,943
Net loss------------(5,138,122)(5,138,122)
Balances at March 31, 20233,091,672$3092,440,411$2442,088,696$209357,836$366,590,547$659$31,330,136$(166,921)$(48,658,767)$(17,494,095)
Vested restricted stock purchased with recourse notes-$--$--$--$-2,820$-$3,433$(1,302)$-$2,131
Restricted stock awards repurchased-$--$--$--$-(62,975)$(6)$6$-$-$-
Stock-based compensation-$--$--$--$--$-$106,929$-$-$106,929
Net loss-$--$--$--$--$-$-$-$(4,966,256)$(4,966,256)
Balances at June 30, 20233,091,672$3092,440,411$2442,088,696$209357,836$366,530,392$653$31,440,504$(168,223)$(53,625,023)$(22,351,291)
Issuance of common stock pursuant to Merger--------3,040,14030412,160,256--12,160,560
Conversion of convertible note and derivative into common stock in connection with Merger--------937,961943,751,781--3,751,875
Conversion of SAFEs into common stock in connection with Merger--------4,372,60143717,489,967--17,490,404
Conversion of preferred stock into common stock in connection with Merger(3,091,672)(309)(2,440,411)(244)(2,088,696)(209)(357,836)(36)7,978,616798----
Predecessor shares converted into common stock upon the Merger--------1,500,000150(150)---
Vested Restricted stock purchased with recourse notes--------2,734-3,433(293)-3,140
Warrants issued with convertible note----------991,000--991,000
Stock-based compensation----------103,385--103,385
Offering Costs----------(2,134,302)--(2,134,302)
Net Loss------------(7,645,972)(7,645,972)
Balances at September 30, 2023--------24,362,4442,43663,805,874(168,516)$(61,270,995)$2,368,799

Unaudited Condensed Consolidated Statements of Changes in Stockholders’ Equity (Deficit)

For the Nine Months Ended September 30, 2024

Series SeedPreferred Stock · Series Seed-1Preferred Stock · Series Seed-2Preferred Stock · Series Seed-3Preferred Stock · Common Stock · AdditionalPaid-inCapital · SubscriptionReceivable · AccumulatedDeficit · TotalStockholders’Equity(Deficit)
Shares · Amount · Shares · Amount · Shares · Amount · Shares · Amount · Shares · Amount
Balances at December 31, 2023-$--$--$--$-24,508,795$2,450$64,468,141$(169,616)$(68,334,381)$(4,033,406)
Exercise of warrants--------125,000125,820--5,832
Interest on recourse loan-----------3,987-3,987
Stock-based compensation----------4,255,432--4,255,432
Net loss------------(9,037,971)(9,037,971)
Balances at March 31, 2024-$--$--$--$-24,633,795$2,462$68,729,393$(165,629)$(77,372,352)$(8,806,126)
Issuance of common stock pursuant to offering--------10,000,0001,00039,999,000--40,000,000
Offering costs----------(4,150,864)--(4,150,864)
Conversion of convertible note and derivative liability into common stock--------2,104,5622106,803,390--6,803,600
Exercise of warrants--------18,341273--75
Exercise of options--------17,93618,756--8,757
Restricted Stock Awards Repurchased--------(245,060)(24)24---
Interest and forgiveness on recourse loans-----------165,629-165,629
Stock-based compensation----------3,480,037--3,480,037
Net loss------------(9,037,367)(9,037,367)
Balances at June 30, 2024-$--$--$--$-36,529,574$3,651$114,869,809$-$(86,409,719)$28,463,741
Issuance of pre-funded warrants to purchase common stock in connection with private placement, net of issuance costs--------3,055,55530617,115,657--17,115,963
Exercise of warrants--------3,182,76531816,318,607--16,318,925
Exercise of options--------10,442177,997--77,998
Vested restricted stock units--------66,7687(7)---
Restricted stock awards repurchased--------(148)-----
Stock-based compensation----------2,195,011--2,195,011
Net loss------------(7,996,219)(7,996,219)
Balances at September 30, 2024-$--$--$--$-42,844,956$4,283$150,577,074$-$(94,405,938)$56,175,419

See accompanying notes to the unaudited condensed consolidated financial statements

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.