SITO Mobile, Ltd.

Single Touch Interactive, Inc.

Financials

v3.10.0.1
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2018
Dec. 31, 2017
Current assets    
Cash and cash equivalents $ 4,628,333 $ 3,611,438
Accounts receivable, net 9,125,447 13,005,718
Prepaid expenses 605,100 374,380
Assets from discontinued operations 10,596
Total current assets 14,358,880 17,002,132
Property and equipment, net 380,093 449,949
Other assets    
Capitalized software development costs, net 971,263 1,485,285
Intangible assets:    
Patents, net 637,353 742,574
Other intangible assets, net 964,757 1,168,007
Goodwill 6,444,225 6,444,225
Other assets 109,003 92,420
Total other assets 9,126,601 9,932,511
Total assets 23,865,574 27,384,592
Current liabilities    
Accounts payable 4,155,128 6,506,902
Accrued expenses 5,794,867 9,911,540
Deferred revenue 350,772
Current obligations under capital lease 3,556 2,756
Warrant liability 381,820 1,539,388
Liabilities from discontinued operations 210,789
Total current liabilities 10,686,143 18,171,375
Long-term liabilities    
Obligations under capital lease 8,542
Total long-term liabilities 8,542
Total liabilities 10,694,685 18,171,375
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, 25,437,536 shares issued and outstanding as of September 30, 2018; and 22,039,529 shares issued and outstanding as of December 31, 2017 25,435 22,038
Additional paid-in capital 184,952,739 165,008,928
Accumulated deficit (171,807,285) (155,817,749)
Total stockholders' equity 13,170,889 9,213,217
Total liabilities and stockholders' equity $ 23,865,574 $ 27,384,592
v3.10.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenue        
Media placement $ 9,056,963 $ 10,916,126 $ 28,630,179 $ 28,163,712
Licensing and royalties 70,726 130,653
Total revenue 9,056,963 10,986,852 28,630,179 28,294,365
Cost of Revenue        
Cost of revenue 4,718,727 5,342,189 15,818,757 14,364,112
Gross profit 4,338,236 5,644,663 12,811,422 13,930,253
Operating Expenses        
Sales and marketing 4,875,669 3,395,943 15,648,741 10,607,985
General and administrative 4,481,234 3,416,253 13,854,247 9,834,685
Depreciation and amortization 144,803 713,903 501,096 996,590
Total operating expenses 9,501,706 7,526,099 30,004,084 21,439,260
Loss from operations (5,163,470) (1,881,436) (17,192,662) (7,509,007)
Other Income (Expense)        
Earnings from joint venture 1,464,754
Gain (loss) on revaluation of warrant liability 182,048 (636,456) 1,157,568 (636,456)
Other income 117,630
Interest income (expense), net 2,404 (555,288) 8,297 (1,299,049)
Net loss before income taxes (4,979,018) (3,073,180) (15,909,167) (7,979,758)
Income tax expense (26,952) (80,369)
Loss from continuing operations (5,005,943) (3,073,180) (15,989,536) (7,979,758)
Discontinued Operations        
Income (loss) from operations of discontinued component 2,788 (312,844)
Net income (loss) from discontinued operations 2,788 (312,844)
Net loss $ (5,005,943) $ (3,070,392) $ (15,989,536) $ (8,292,602)
Basic and diluted net loss per share        
Continuing operations $ (0.20) $ (0.14) $ (0.65) $ (0.38)
Discontinued operations 0.00 (0.01)
Basic and diluted net loss per share $ (0.20) $ (0.14) $ (0.65) $ (0.39)
Basic and diluted weighted average shares outstanding 25,374,545 21,597,130 24,748,556 20,994,017
v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flows from Operating Activities    
Net loss $ (15,989,536) $ (8,292,602)
Less: loss from discontinued operations, net of tax (312,844)
Loss from continuing operations (15,989,536) (7,979,758)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 122,208 113,516
Amortization expense - software development costs 602,013 666,875
Amortization expense - patents 175,637 679,823
Amortization expense - discount of debt 794,548
Amortization expense - deferred costs 37,676
Amortization expense - intangible assets 203,250 203,250
Provision for bad debt 282,072
Loss on disposition of assets 5,871 6,024
(Gain) loss on revaluation of warrant liability (1,157,568) 636,456
Stock option compensation expense 3,157,883 1,261,777
Restricted stock compensation expense 1,994,423 55,879
Changes in operating assets and liabilities:    
Decrease (increase) in accounts receivable, net 3,880,272 (4,415,265)
Increase in prepaid expenses (230,720) (1,181,585)
(Increase) decrease in other assets (12,938) 19,942
(Decrease) increase in accounts payable (2,496,499) 3,077,091
(Decrease) increase in accrued expenses (4,123,041) 1,101,154
Increase in deferred revenue 291,076 1,257,132
Decrease in accrued interest (727,604)
Net cash used in operating activities - continuing operations (13,577,669) (4,110,997)
Net cash used in operating activities - discontinued operations (206,456)
Net cash used in operating activities (13,577,669) (4,317,453)
Cash Flows from Investing Activities    
Patents and patent applications costs (70,416) (110,079)
Purchase of property and equipment (51,273) (204,157)
Proceeds from sale of property and equipment 27,000
Capitalized software development costs (87,991) (634,696)
Net cash used in investing activities - continuing operations (209,680) (921,932)
Net cash provided by investing activities - discontinued operations 312,947
Net cash used in investing activities (209,680) (608,985)
Cash Flows from Financing Activities    
Proceeds from issuance of common stock 14,842,750 6,000,000
Proceeds from exercise of stock options 116,251 2,500
Stock issuance costs (1,058,249) (315,931)
Shares issued related to 2017 annual bonus for executives 894,150
Principal reduction on obligation under capital lease 9,342 (2,559)
Principal reduction on repayment of debt (6,916,664)
Net cash provided by (used in) financing activities - continuing operations 14,804,244 (1,232,654)
Net cash provided by (used in) financing activities 14,804,244 (1,232,654)
Net increase (decrease) in cash and cash equivalents 1,016,895 (6,159,092)
Cash and cash equivalents - beginning of period 3,611,438 8,744,545
Cash and cash equivalents - end of period 4,628,333 2,585,453
Supplemental Information:    
Interest expense paid 1,060 843,662
Income taxes paid $ 54,479 $ 14,806
Messaging Terms & Conditions | Website Terms & Conditions | Privacy Policy
© 2018 SITO Mobile