SITO Mobile, Ltd.

Single Touch Interactive, Inc.

Financials

v3.8.0.1
Unaudited Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current assets    
Cash and cash equivalents $ 2,585,453 $ 8,744,545
Accounts receivable, net 12,975,448 8,842,256
Other prepaid expenses 1,410,624 229,039
Assets from discontinued operations, net 14,861 870,716
Total current assets 16,986,386 18,686,556
Property and equipment, net 468,308 410,688
Other assets    
Capitalized software development costs, net 1,666,814 1,698,992
Intangible assets:    
Patents 746,075 461,730
Patent applications cost   854,088
Other intangible assets, net 1,235,757 1,439,007
Goodwill 6,444,225 6,444,225
Other assets including security deposits 92,420 150,038
Total other assets 10,185,291 11,048,080
Total assets 27,639,985 30,145,324
Current liabilities    
Accounts payable 6,261,331 3,184,237
Accrued expenses 3,282,101 2,180,944
Deferred revenue, current portion 1,840,039 245,407
Current obligations under capital lease 3,642 3,446
Note payable, net - current portion 2,896,893
Liabilities from discontinued operations, net 170,225 607,236
Total current liabilities 11,557,338 9,118,163
Long-term liabilities    
Obligations under capital lease   2,756
Deferred revenue, noncurrent portion 900,616
Note payable, net 3,952,827
Total long-term liabilities 900,616 3,955,583
Total liabilities 12,457,954 13,073,746
Commitments and contingencies - See notes 16
Stockholders' Equity    
Preferred stock, $.0001 par value, 5,000,000 shares authorized; none outstanding
Common stock, $.001 par value; 100,000,000 shares authorized, 21,950,460 shares issued and outstanding as of September 30, 2017 and $.001 par value; 100,000,000 shares authorized, 20,681,047 shares issued and outstanding as of December 31, 2016 21,949 20,680
Additional paid-in capital 165,149,086 157,829,709
Accumulated deficit (149,989,004) (140,778,811)
Total stockholders' equity 15,182,031 17,071,578
Total liabilities and stockholders' equity $ 27,639,985 $ 30,145,324
v3.8.0.1
Unaudited Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenue        
Media placement $ 10,916,126 $ 8,424,099 $ 28,163,712 $ 21,583,479
Licensing and royalties 155,795 127,196 357,291 388,561
Total revenue 11,071,921 8,551,295 28,521,003 21,972,040
Costs and Expenses        
Cost of revenue 5,342,189 3,759,675 14,364,112 9,973,728
Sales and marketing 3,395,943 2,870,828 10,607,985 7,685,561
General and administrative 3,732,184 1,356,537 10,150,616 4,236,541
Depreciation and amortization 713,903 153,696 996,590 458,072
Total costs and expenses 13,184,219 8,140,736 36,119,303 22,353,902
(Loss) income from operations (2,112,298) 410,559 (7,598,300) (381,862)
Other Income (Expense)        
Interest expense (555,288) (436,782) (1,299,049) (1,321,673)
Net (loss) before income taxes (2,667,586) (26,223) (8,897,349) (1,703,535)
Income Tax Expense (Benefit)
(Loss) income from continuing operations (2,667,586) (26,223) (8,897,349) (1,703,535)
Discontinued Operations        
Income (loss) from operations of discontinued component 2,788 527,723 (312,844) 1,759,594
Net income (loss) from discontinued operations 2,788 527,723 (312,844) 1,759,594
Net (loss) income $ (2,664,798) $ 501,500 $ (9,210,193) $ 56,059
Basic net income (loss) per share        
Continuing operations $ (0.12) $ (0.00) $ (0.42) $ (0.10)
Discontinued operations 0.00 0.03 (0.01) 0.10
Basic net loss per share $ (0.12) $ 0.03 $ (0.43) $ 0.00
Basic weighted average shares outstanding 21,597,130 17,433,011 20,994,017 17,714,960
Diluted earnings (loss) per share        
Continuing operations   $ (0.00)   $ (0.09)
Discontinued operations   0.03   0.09
Diluted net earnings (loss) per share $ 0.03 $ 0.00
Diluted weighted average shares outstanding   19,573,308   19,762,037
v3.8.0.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Cash Flows from Operating Activities        
Net (loss) income $ (2,664,798) $ 501,500 $ (9,210,193) $ 56,059
Less: income (loss) from discontinued operations, net of tax 2,788 527,723 (312,844) 1,759,594
(Loss) income from continuing operations (2,667,586) (26,223) (8,897,349) (1,703,535)
Adjustments to reconcile net (loss) income to net cash used in operating activities:        
Depreciation expense 37,391 33,201 113,516 99,489
Amortization expense - software development costs 228,782 177,449 666,876 463,547
Amortization expense - patents 608,761 52,744 679,823 150,863
Amortization expense - discount of debt 430,108 200,281 794,548 570,267
Amortization expense - deferred costs 20,395 9,497 37,676 31,093
Amortization expense - intangible assets 67,750 67,750 203,250 207,720
Provision for bad debt 115,203 (10,673) 282,072 336,204
Loss on disposition of assets 6,024
Stock based compensation 722,169 374,534 1,317,656 931,197
Write off of capitalized software development costs
Changes in operating assets and liabilities:        
(Increase) in accounts receivable, net (3,110,264) (644,260) (4,415,265) (3,903,047)
(Increase) in prepaid expenses (870,442) (204,929) (1,181,585) (160,481)
Decrease (increase) in other assets 19,942 (9,965)
Increase (decrease) in accounts payable 152,247 (2,255,303) 3,077,091 (459,639)
(Decrease) in other liabilities 1,346,862 68,124 1,101,153 611,514
Increase (decrease) in deferred revenue 1,346,744 (127,195) 2,495,248 (96,129)
Increase in accrued expenses (7,500)
(Decrease) increase in accrued interest (785,926) 60,567 (727,604) 190,502
Net cash used in operating activities - continuing operations (2,365,306) (2,224,436) (4,426,928) (2,740,400)
Net cash (used in) provided by operating activities - discontinued operations (93,474) 239,441 143,900 2,170,685
Net cash used in operating activities (2,458,780) (1,984,995) (4,283,028) (569,715)
Cash Flows from Investing Activities        
Patents and patent applications costs (39,533) (42,803) (110,079) (133,877)
Purchase of property and equipment (5,119) (11,050) (204,157) (23,197)
Proceeds from sale of property and equipment 27,000
Capitalized software development costs (42,636) (230,485) (634,696) (769,096)
Net cash (used in) investing activities - continuing operations (87,288) (284,338) (921,932) (926,170)
Net cash (used in) investing activities - discontinued operations (74,361) (37,409) (304,960)
Net cash (used in) investing activities (87,288) (358,699) (959,341) (1,231,130)
Cash Flows from Financing Activities        
Proceeds from issuance of common stock 6,000,000 12,203,605 6,002,500 12,203,605
Stock issuance costs (1,180,000) (1,180,000)
Restructuring of debt (100,000)
Principal reduction on obligation under capital lease (869) (807) (2,559) (888)
Principal reduction on repayment of debt (4,044,164) (525,000) (6,916,664) (1,891,668)
Net cash provided by (used in) financing activities - continuing operations 1,954,967 10,497,798 (916,723) 9,031,049
Net cash (used in) financing activities - discontinued operations (8,500)
Net cash provided by (used in) financing activities 1,954,967 10,497,798 (916,723) 9,022,549
Net (decrease) increase in cash and cash equivalents (591,101) 8,154,104 (6,159,092) 7,221,704
Cash and cash equivalents - beginning of period 3,176,554 1,682,784 8,744,545 2,615,184
Cash and cash equivalents - ending of period 2,585,453 9,836,888 2,585,453 9,836,888
Supplemental Information:        
Interest expense paid 532,772 232,238 843,662 529,895
Income taxes paid $ 16,900 $ 14,806 $ 34,629
Non-cash investing and financing activities:        
Warrants to purchase a common stock, Share     320,000  
Messaging Terms & Conditions | Website Terms & Conditions | Privacy Policy
© 2017 SITO Mobile