MOBIQUITY TECHNOLOGIES, INC. 10-Q

Table of Contents

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED June 30, 2025

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

COMMISSION FILE NUMBER: 001-41117

MOBIQUITY TECHNOLOGIES, INC.

(Exact name of registrant as specified in its charter)

new york		11-3427886
(State of jurisdiction of Incorporation)		(I.R.S. Employer Identification No.)

35 TORRINGTON LANE, SHOREHAM, NY		11786
(Address of principal executive offices		(Zip Code)

(516) 246-9422

(Registrant's telephone number)

Not Applicable

(Former name, address, and fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act: None

Securities registered pursuant to Section 12(g) of the Act: Common Stock, $.0001 par value and Common Stock Purchase Warrants

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one)

	Large accelerated filer ☐	Accelerated filer ☐
	Non-accelerated filer ☒	Smaller reporting company ☒
	Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

The number of shares outstanding of the Registrant’s Common Stock as of July 29, 2025, was 21,821,874.

MOBIQUITY TECHNOLOGIES, INC.

FORM 10-Q QUARTERLY REPORT

TABLE OF CONTENTS

		PAGE
PART I. FINANCIAL INFORMATION		3

Item 1. Consolidated Financial Statements		3

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations		33

Item 3. Quantitative and Qualitative Disclosures		44

Item 4. Controls and Procedures		44

PART II. OTHER INFORMATION		45

Item 1. Legal Proceedings		45

Item lA. Risk Factors		45

Item 2. Changes in Securities		45

Item 3. Defaults Upon Senior Securities		55

Item 4. Mine Safety Disclosures		55

Item 5. Other Information		55

Item 6. Exhibits		55

SIGNATURES		60

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

Mobiquity Technologies, Inc.

Consolidated Balance Sheets


	June 30,			December 31,
	2025 (Unaudited)			2024
Assets
Current Assets
Cash	$	184,081		$	1,159,933
Accounts receivable, net		36,784			47,916
Prepaid and other current assets		817,488			768,622
Total Current Assets		1,038,353			1,976,471

Property and equipment, net		3,235			4,417

Goodwill		1,352,865			1,352,865
Capitalized software development costs, net		2,824,330			3,184,562
Investment		500,014			–
Total Assets	$	5,718,797		$	6,518,315

Liabilities and Stockholders' Equity
Current Liabilities
Accounts payable and accrued expenses	$	2,494,555		$	2,528,463
Accrued interest - related party		11,088			6,000
Contract liabilities		25,486			25,486
Debt, current portion, net		703,815			673,915
Total Current Liabilities		3,234,944			3,233,864

Total Liabilities		3,234,944			3,233,864

Commitments and Contingencies (Note 9)		–			–

Stockholders' Equity

AAA preferred stock; $0.0001 par value, 1,250,000 shares authorized, 31,413 shares issued and outstanding		3			3

Preferred stock Series E; $0.0001 par value, 70,000 shares authorized, 61,688 shares issued and outstanding		6			6

Preferred stock Series H; $0.0001 par value, 770,000 shares authorized, no shares issued and outstanding		–			–

Common stock; $0.0001 par value, 100,000,000 shares authorized, 21,341,874 and 18,721,240 shares issued, 21,339,357 and 18,718,723 shares outstanding		2,134			1,872

Treasury stock, at cost, $0.0001 par value 2,517 shares outstanding		(1,350,006	)		(1,350,006	)
Additional paid-in capital		233,930,073			230,266,097
Accumulated deficit		(230,098,357	)		(225,633,521	)
Total Stockholders' Equity		2,483,853			3,284,451
Total Liabilities and Stockholders' Equity	$	5,718,797		$	6,518,315

See accompanying notes to the consolidated financial statements

Mobiquity Technologies, Inc.

Consolidated Statements of Operations (Unaudited)


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2025			2024			2025			2024

Revenues	$	31,108		$	266,892		$	43,721		$	530,174

Cost of revenues		170			184,125			31,638			395,394

Gross profit		30,938			82,767			12,083			134,780

Operating expenses
General and administrative expenses		1,809,426			1,043,020			3,755,286			2,042,313
Depreciation and amortization		180,990			61,756			361,729			163,574
Total operating expenses		1,990,416			1,104,776			4,117,015			2,205,887

Loss from operations		(1,959,478	)		(1,022,009	)		(4,104,932	)		(2,071,107	)

Other income (expense)
Interest expense		(207,706	)		(113,785	)		(358,248	)		(170,872	)
Gain on debt extinguishment, net		–			152,643			–			152,643
Other income		–			237,949			–			237,949
Loss on disposal of fixed assets		(1,672	)		–			(1,672	)		–
Interest income		7			55			16			4,656
Total other expense - net		(209,371	)		276,862			(359,904	)		224,376

Net loss before income taxes		(2,168,849	)		(745,147	)		(4,464,836	)		(1,846,731	)

Income tax benefit		–			–			–			59,324

Net loss	$	(2,168,849	)	$

SEC Form 10-Q filed by Mobiquity Technologies Inc.