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10-Q Filing

CISO GLOBAL, INC. CIK: 1777319 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001493152-23-017269
Period End Date 20230331
Filing Date 20230515
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance form10-q_htm.xml
Filing Contents
Balance Sheet 82 line items
Line Item Tag Value Unit Period
Common stock, par value CommonStockParOrStatedValuePerShare - USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare - USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 300.00M shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 300.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.83M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 154.18M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 146.40M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $3.82M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $7.86M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 146.40M shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $6.07M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 154.18M shares Point-in-time
Inventory InventoryNet $11.80K USD Point-in-time
Preferred stock, par value PreferredStockParOrStatedValuePerShare - USD Point-in-time
Preferred stock, par value PreferredStockParOrStatedValuePerShare - USD Point-in-time
Inventory InventoryNet $19.11K USD Point-in-time
Prepaid cost of revenue OtherPrepaidExpenseCurrent $2.63M USD Point-in-time
Prepaid cost of revenue OtherPrepaidExpenseCurrent $2.48M USD Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 50.00M shares Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 50.00M shares Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $1.72M USD Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $2.26M USD Point-in-time
Contract asset ContractWithCustomerAssetNetCurrent $412.13K USD Point-in-time
Contract asset ContractWithCustomerAssetNetCurrent $332.21K USD Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Total Current Assets AssetsCurrent $15.06M USD Point-in-time
Total Current Assets AssetsCurrent $14.40M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $4.74M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $4.68M USD Point-in-time
Right of use asset, net OperatingLeaseRightOfUseAsset $255.69K USD Point-in-time
Right of use asset, net OperatingLeaseRightOfUseAsset $961.04K USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $8.48M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $4.83M USD Point-in-time
Goodwill Goodwill $76.66M USD Point-in-time
Goodwill Goodwill $58.49M USD Point-in-time
Other assets OtherAssetsNoncurrent $22.59K USD Point-in-time
Other assets OtherAssetsNoncurrent $23.50K USD Point-in-time
Total Assets Assets $84.11M USD Point-in-time
Total Assets Assets $104.50M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $8.31M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $10.76M USD Point-in-time
Deferred revenue DeferredRevenueCurrent $4.47M USD Point-in-time
Deferred revenue DeferredRevenueCurrent $4.14M USD Point-in-time
Lease liability OperatingLeaseLiabilityCurrent $121.73K USD Point-in-time
Lease liability OperatingLeaseLiabilityCurrent $194.07K USD Point-in-time
Loans payable LoansPayableCurrent $4.52M USD Point-in-time
Loans payable LoansPayableCurrent $7.76M USD Point-in-time
Convertible notes payable ConvertibleNotesPayableCurrent $2.05M USD Point-in-time
Convertible notes payable ConvertibleNotesPayableCurrent $2.55M USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $23.21M USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $21.66M USD Point-in-time
Loans payable, net of current portion LongTermLoansPayable $4.24M USD Point-in-time
Loans payable, net of current portion LongTermLoansPayable $4.12M USD Point-in-time
Convertible notes payable, related party LongTermNotesPayable $5.00M USD Point-in-time
Convertible notes payable, related party LongTermNotesPayable - USD Point-in-time
Lease liability, net of current portion OperatingLeaseLiabilityNoncurrent $159.21K USD Point-in-time
Lease liability, net of current portion OperatingLeaseLiabilityNoncurrent $788.36K USD Point-in-time
Deferred tax liability DeferredIncomeTaxLiabilitiesNet - USD Point-in-time
Deferred tax liability DeferredIncomeTaxLiabilitiesNet $435.68K USD Point-in-time
Total Liabilities Liabilities $28.05M USD Point-in-time
Total Liabilities Liabilities $31.56M USD Point-in-time
Commitments and Contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and Contingencies CommitmentsAndContingencies - USD Point-in-time
Common stock, $.00001 par value; 300,000,000 shares authorized; 154,176,477 and 146,395,807 issued and outstanding at March 31, 2023 and December 31, 2022, respectively CommonStockValue $1.54K USD Point-in-time
Common stock, $.00001 par value; 300,000,000 shares authorized; 154,176,477 and 146,395,807 issued and outstanding at March 31, 2023 and December 31, 2022, respectively CommonStockValue $1.46K USD Point-in-time
Preferred stock, $.00001 par value; 50,000,000 shares authorized; 0 shares issued and outstanding on March 31, 2023 and December 31, 2022, respectively PreferredStockValue - USD Point-in-time
Preferred stock, $.00001 par value; 50,000,000 shares authorized; 0 shares issued and outstanding on March 31, 2023 and December 31, 2022, respectively PreferredStockValue - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $153.17M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $162.08M USD Point-in-time
Accumulated translation adjustment AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax $3.10M USD Point-in-time
Accumulated translation adjustment AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax $1.06M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-77.79M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-112.63M USD Point-in-time
Total Stockholders Equity StockholdersEquity $76.45M USD Point-in-time
Total Stockholders Equity StockholdersEquity $52.55M USD Point-in-time
Total Stockholders Equity StockholdersEquity $25.30M USD Point-in-time
Total Stockholders Equity StockholdersEquity $67.26M USD Point-in-time
Total Liabilities and Stockholders Equity LiabilitiesAndStockholdersEquity $104.50M USD Point-in-time
Total Liabilities and Stockholders Equity LiabilitiesAndStockholdersEquity $84.11M USD Point-in-time
Income Statement 42 line items
Line Item Tag Value Unit Period
Total revenue RevenueFromContractWithCustomerExcludingAssessedTax $9.33M USD 1 Quarter
Total revenue RevenueFromContractWithCustomerExcludingAssessedTax $13.73M USD 1 Quarter
Total cost of revenue CostOfRevenue $9.28M USD 1 Quarter
Total cost of revenue CostOfRevenue $13.33M USD 1 Quarter
Total gross profit GrossProfit $399.08K USD 1 Quarter
Total gross profit GrossProfit $48.72K USD 1 Quarter
Professional fees ProfessionalFees $623.06K USD 1 Quarter
Professional fees ProfessionalFees $1.68M USD 1 Quarter
Advertising and marketing MarketingAndAdvertisingExpense $155.34K USD 1 Quarter
Advertising and marketing MarketingAndAdvertisingExpense $115.39K USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $4.62M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $9.51M USD 1 Quarter
Stock based compensation AllocatedShareBasedCompensationExpense $2.57M USD 1 Quarter
Stock based compensation AllocatedShareBasedCompensationExpense $3.63M USD 1 Quarter
Impairment of goodwill GoodwillImpairmentLoss - USD 1 Quarter
Impairment of goodwill GoodwillImpairmentLoss $20.20M USD 1 Quarter
Total operating expenses OperatingExpenses $35.13M USD 1 Quarter
Total operating expenses OperatingExpenses $7.96M USD 1 Quarter
Loss from operations OperatingIncomeLoss $-7.91M USD 1 Quarter
Loss from operations OperatingIncomeLoss $-34.73M USD 1 Quarter
Other income (expense) OtherNonoperatingIncomeExpense $-156.42K USD 1 Quarter
Other income (expense) OtherNonoperatingIncomeExpense $12.54K USD 1 Quarter
Interest expense, net InterestExpense $390.14K USD 1 Quarter
Interest expense, net InterestExpense $43.59K USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $-546.56K USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $-31.04K USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-7.94M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-35.28M USD 1 Quarter
Benefit from income taxes IncomeTaxExpenseBenefit - USD 1 Quarter
Benefit from income taxes IncomeTaxExpenseBenefit $-435.68K USD 1 Quarter
Net loss NetIncomeLoss $-7.94M USD 1 Quarter
Net loss NetIncomeLoss $-34.84M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $2.04M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $902.44K USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTax $-7.04M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTax $-32.80M USD 1 Quarter
Net loss per common share - basic and diluted EarningsPerShareBasic $-0.24 USD 1 Quarter
Net loss per common share - basic and diluted EarningsPerShareBasic $-0.06 USD 1 Quarter
Weighted average shares outstanding - basic WeightedAverageNumberOfSharesOutstandingBasic 147.80M shares 1 Quarter
Weighted average shares outstanding - basic WeightedAverageNumberOfSharesOutstandingBasic 133.98M shares 1 Quarter
Weighted average shares outstanding - diluted WeightedAverageNumberOfDilutedSharesOutstanding 147.80M shares 1 Quarter
Weighted average shares outstanding - diluted WeightedAverageNumberOfDilutedSharesOutstanding 133.98M shares 1 Quarter
Cash Flow Statement 80 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-7.94M USD 1 Quarter
Net loss NetIncomeLoss $-34.84M USD 1 Quarter
Stock based compensation - stock options ShareBasedCompensation $4.69M USD 1 Quarter
Stock based compensation - stock options ShareBasedCompensation $5.27M USD 1 Quarter
Stock based compensation - common stock StockBasedCompensationCommonStock $79.95K USD 1 Quarter
Stock based compensation - common stock StockBasedCompensationCommonStock $125.00K USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $1.05M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $458.99K USD 1 Quarter
Right of use amortization OperatingLeaseRightOfUseAssetAmortizationExpense $28.43K USD 1 Quarter
Right of use amortization OperatingLeaseRightOfUseAssetAmortizationExpense $45.39K USD 1 Quarter
Settlement liability SettlementLiabilites - USD 1 Quarter
Settlement liability SettlementLiabilites $470.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $-18.43K USD 1 Quarter
Other OtherNoncashIncomeExpense $22.29K USD 1 Quarter
Impairment of intangible assets ImpairmentOfIntangibleAssets $3.12M USD 1 Quarter
Impairment of intangible assets ImpairmentOfIntangibleAssets - USD 1 Quarter
Impairment of goodwill GoodwillAndIntangibleAssetImpairment - USD 1 Quarter
Impairment of goodwill GoodwillAndIntangibleAssetImpairment $20.20M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $-397.55K USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $-1.97M USD 1 Quarter
Inventory IncreaseDecreaseInInventories $6.38K USD 1 Quarter
Inventory IncreaseDecreaseInInventories $522.34K USD 1 Quarter
Contract assets IncreaseDecreaseInContractWithCustomerAsset $86.81K USD 1 Quarter
Contract assets IncreaseDecreaseInContractWithCustomerAsset $79.92K USD 1 Quarter
Prepaids and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $144.41K USD 1 Quarter
Prepaids and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $865.48K USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $1.72M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $1.13M USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenue $-546.09K USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenue $91.46K USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-3.02M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-2.11M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $103.86K USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $182.84K USD 1 Quarter
Cash paid for acquisitions, net PaymentsToAcquireBusinessesNetOfCashAcquired $4.92M USD 1 Quarter
Cash paid for acquisitions, net PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Net cash used in by investing activities NetCashProvidedByUsedInInvestingActivities $-182.84K USD 1 Quarter
Net cash used in by investing activities NetCashProvidedByUsedInInvestingActivities $-5.02M USD 1 Quarter
Proceeds from sale of common stock ProceedsFromIssuanceOfCommonStock $9.47M USD 1 Quarter
Proceeds from sale of common stock ProceedsFromIssuanceOfCommonStock $3.14M USD 1 Quarter
Proceeds from stock option exercise ProceedsFromStockOptionsExercised $38.00K USD 1 Quarter
Proceeds from stock option exercise ProceedsFromStockOptionsExercised $491.85K USD 1 Quarter
Proceeds from loan payable ProceedsFromLoanPayable - USD 1 Quarter
Proceeds from loan payable ProceedsFromLoanPayable $2.00M USD 1 Quarter
Proceeds from convertible notes payable, related party ProceedsFromRelatedPartyDebt - USD 1 Quarter
Proceeds from convertible notes payable, related party ProceedsFromRelatedPartyDebt $5.00M USD 1 Quarter
Proceeds from line of credit ProceedsFromLinesOfCredit $32.52K USD 1 Quarter
Proceeds from line of credit ProceedsFromLinesOfCredit $86.58K USD 1 Quarter
Payment on line of credit RepaymentsOfLinesOfCredit - USD 1 Quarter
Payment on line of credit RepaymentsOfLinesOfCredit $61.67K USD 1 Quarter
Payment on loans payable PaymentsOfLoansPayable $458.72K USD 1 Quarter
Payment on loans payable PaymentsOfLoansPayable $5.78M USD 1 Quarter
Payment on notes payable, related party RepaymentsOfRelatedPartyDebt - USD 1 Quarter
Payment on notes payable, related party RepaymentsOfRelatedPartyDebt $125.86K USD 1 Quarter
Payment of convertible note payable ProceedsFromConvertibleDebt - USD 1 Quarter
Payment of convertible note payable ProceedsFromConvertibleDebt $-500.00K USD 1 Quarter
Payment of debt issuance cost PaymentsOfDebtIssuanceCosts $87.50K USD 1 Quarter
Payment of debt issuance cost PaymentsOfDebtIssuanceCosts - USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $9.01M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $4.24M USD 1 Quarter
Effect of exchange rates on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $164.29K USD 1 Quarter
Effect of exchange rates on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $45.49K USD 1 Quarter
Net increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $1.99M USD 1 Quarter
Net increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $1.14M USD 1 Quarter
Cash and cash equivalents - beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $2.73M USD Point-in-time
Cash and cash equivalents - beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $1.83M USD Point-in-time
Cash and cash equivalents - beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $3.86M USD Point-in-time
Cash and cash equivalents - beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $3.82M USD Point-in-time
Cash and cash equivalents - end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $2.73M USD Point-in-time
Cash and cash equivalents - end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $1.83M USD Point-in-time
Cash and cash equivalents - end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $3.86M USD Point-in-time
Cash and cash equivalents - end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $3.82M USD Point-in-time
Interest InterestPaidNet $36.07K USD 1 Quarter
Interest InterestPaidNet $349.11K USD 1 Quarter
Income taxes IncomeTaxesPaidNet - USD 1 Quarter
Income taxes IncomeTaxesPaidNet - USD 1 Quarter
Operating lease assets obtained in exchange for operating lease obligations CapitalLeaseObligationsIncurred - USD 1 Quarter
Operating lease assets obtained in exchange for operating lease obligations CapitalLeaseObligationsIncurred $733.78K USD 1 Quarter
Common stock issued in True Digital acquisition CommonStockIssuedInTrueDigitalAcquisition $34.73M USD 1 Quarter
Common stock issued in True Digital acquisition CommonStockIssuedInTrueDigitalAcquisition - USD 1 Quarter
Stockholders Equity 21 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $76.45M USD Point-in-time
Balance StockholdersEquity $52.55M USD Point-in-time
Balance StockholdersEquity $25.30M USD Point-in-time
Balance StockholdersEquity $67.26M USD Point-in-time
Stock based compensation - stock options AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition $4.69M USD 1 Quarter
Stock based compensation - stock options AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition $5.27M USD 1 Quarter
Stock issued for cash StockIssuedDuringPeriodValueNewIssues $3.14M USD 1 Quarter
Exercise of options StockIssuedDuringPeriodValueStockOptionsExercised $491.85K USD 1 Quarter
Exercise of options StockIssuedDuringPeriodValueStockOptionsExercised $38.00K USD 1 Quarter
Exercise of options, shares StockIssuedDuringPeriodSharesStockOptionsExercised 1.04M shares 1 Quarter
Foreign currency translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $2.04M USD 1 Quarter
Foreign currency translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $902.44K USD 1 Quarter
Net loss NetIncomeLoss $-7.94M USD 1 Quarter
Net loss NetIncomeLoss $-34.84M USD 1 Quarter
Stock based compensation - common stock StockIssuedDuringPeriodValueShareBasedCompensation $79.95K USD 1 Quarter
Stock issued for cash in public offering StockIssuedDuringPeriodValueOther $9.47M USD 1 Quarter
Stock issued for True Digital acquisition StockIssuedDuringPeriodValueAcquisitions $34.73M USD 1 Quarter
Balance StockholdersEquity $76.45M USD Point-in-time
Balance StockholdersEquity $52.55M USD Point-in-time
Balance StockholdersEquity $25.30M USD Point-in-time
Balance StockholdersEquity $67.26M USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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