SITO Mobile, Ltd.

Single Touch Interactive, Inc.

Financials

v3.19.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current assets    
Cash and cash equivalents $ 1,759,927 $ 2,597,246
Accounts receivable, net 8,515,888 10,206,664
Other receivable 58,410
Other prepaid expenses 343,917 469,041
Total current assets 10,678,142 13,272,951
Property and equipment, net 311,000 331,635
Other assets    
Capitalized software development costs, net 1,382,839 861,699
Intangible assets:    
Patents 606,366 630,857
Other intangible assets, net 829,257 897,007
Operating Lease ROU Assets, net 243,010 311,717
Goodwill 6,444,225 6,444,225
Other assets 124,633 125,543
Total other assets 9,630,330 9,271,048
Total assets 20,619,472 22,875,634
Current liabilities    
Accounts payable 6,126,305 4,377,805
Accrued expenses 4,362,357 4,610,146
Other current liabilities 376,859 3,571
Deferred revenue 175,000 264,493
Operating lease liabilities 260,610 307,536
Warrant liability 494,445 174,684
Total current liabilities 11,795,576 9,738,235
Long-term liabilities    
Operating lease liabilities 27,062
Other liabilities 6,744 7,644
Total long-term liabilities 6,744 34,706
Total liabilities 11,802,320 9,772,941
Commitments and contingencies
Stockholders' Equity    
Common stock, $.001 par value; 100,000,000 shares authorized, 25,641,812 shares issued and outstanding as of March 31, 2019; and 25,529.078 December 31, 2018 respectively 25,642 25,529
Additional paid-in capital 186,747,725 185,983,896
Accumulated deficit (177,956,215) (172,906,732)
Total stockholders' equity 8,817,152 13,102,693
Total liabilities and stockholders' equity $ 20,619,472 $ 22,875,634
v3.19.1
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenue    
Media placement $ 8,430,376 $ 11,144,652
Total revenue 8,430,376 11,144,652
Cost of Revenue    
Cost of revenue 5,572,737 6,697,876
Gross profit 2,857,639 4,446,776
Operating Expenses    
Sales and marketing 4,038,116 5,260,251
General and administrative 3,401,172 4,949,383
Depreciation and amortization 148,826 185,805
Total operating expenses 7,588,114 10,395,439
Loss from operations (4,730,475) (5,948,663)
Other Income (Expense)    
(Loss) gain on revaluation of warrant liability (319,761) 641,216
Other income 388 86,079
Interest (expense) income, net (155) 3,974
Net loss before income taxes (5,050,003) (5,217,394)
Income tax benefit (expense) 520 (31,385)
Net loss from operations $ (5,049,483) $ (5,248,779)
Basic and diluted net (loss) per share $ (0.20) $ (0.22)
Basic and diluted weighted average shares outstanding 25,545,362 23,724,307
v3.19.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash Flows from Operating Activities    
Net loss $ (5,049,483) $ (5,248,779)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 40,239 40,544
Amortization expense - software development costs 161,596 208,554
Amortization expense - patents 39,927 76,463
Amortization expense - intangible assets 67,750 67,750
Amortization expense - other assets 910 1,048
Operating leases rent expense 76,595 76,595
Loss on disposition of assets 5,871
Loss (gain) on revaluation of warrant liability 319,761 (641,216)
Stock option compensation expense 395,800 1,137,246
Restricted stock compensation expense 368,142 952,082
Changes in operating assets and liabilities:    
Decrease in accounts receivable, net 1,690,776 4,048,259
Decrease (increase) in prepaid expenses 125,124 (152,390)
(Increase) in other receivable (58,410)
Decrease (increase) in other assets (10,680)
Increase (decrease) in accounts payable 1,748,500 (2,663,396)
(Decrease) in accrued expenses (247,789) (3,309,912)
Increase in other payable 373,288
Decrease in operating lease liabilities (81,888) (81,346)
(Decrease) in deferred revenue (89,493) (1,839)
Net cash used in operating activities (118,655) (5,495,146)
Cash Flows from Investing Activities    
Patents and patent applications costs (15,436) (12,647)
Purchase of property and equipment (19,604) (21,999)
Capitalized software development costs (682,736) (43,906)
Net cash used in investing activities (717,776) (78,552)
Cash Flows from Financing Activities    
Proceeds from issuance of common stock 13,784,501
Proceeds from exercise of stock options 116,251
Principal reduction on finance lease liabilities (888) (1,483)
Net cash (used in) provided by financing activities (888) 13,899,269
Net (decrease) increase in cash and cash equivalents (837,319) 8,325,571
Cash and cash equivalents - beginning of period 2,597,246 3,611,438
Cash and cash equivalents - ending of period 1,759,927 11,937,009
Supplemental Information:    
Interest expense paid 172 68
Income taxes paid 1,667
Investing Activities    
Finance lease ROU assets acquired 14,173
Operating lease liability accretion $ 7,900 $ 14,987
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