AiAdvertising Reports Fiscal Year 2023 Financial Results

Business Wire09-12

2023 Revenue up 21% to $8.2 Million Driven by Creative Services and Digital Marketing Customer Retention Rate 94% Year-over-Year as of December 31, 2023 SAN ANTONIO, September 12, 2024--(BUSINESS WIRE...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAiAdvertising Reports Fiscal Year 2023 Financial Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-12 19:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/aiadvertising-reports-fiscal-2023-financial-111500309.html><strong>Business Wire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>2023 Revenue up 21% to $8.2 Million Driven by Creative Services and Digital Marketing\nCustomer Retention Rate 94% Year-over-Year as of December 31, 2023\nSAN ANTONIO, September 12, 2024--(BUSINESS WIRE...</p>\n\n<a href=\"https://finance.yahoo.com/news/aiadvertising-reports-fiscal-2023-financial-111500309.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ML","symbol_name":"MoneyLion Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/aiadvertising-reports-fiscal-2023-financial-111500309.html","article_id":"2466759612","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/RNA4wzY7.GnLWs.dyIoM5g--~B/aD0yMDg7dz00NzA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/business-wire.com/ba7119a6346cb404e8493c77b533ce2c"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2466759612","pubTimestamp":1726139700,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"2023 Revenue up 21% to $8.2 Million Driven by Creative Services and Digital Marketing. Revenue for Q4 2023 was $2.3 million, up 11% from $2.1 million in Q4 2022.Revenue for the year ended December 31, 2023, and 2022 was $8.2 million and $6.7, respectively, an increase of 21%.Net Loss for the quarter ended December 31, 2023, was  million.Net Cash used in the year ended December 31, 2023, was $5.5 million, compared to cash used of $4.9 million a year ago.\"We continued our systematic cadence of operational execution in the fourth quarter with 11% revenue growth,\" said Jerry Hug, Chairman and CEO of AiAdvertising. \"For the full year, both revenue and net loss improved as we began to see the cumulative results from our efforts over the last year to acquire new customers and strong growth from current customers in Digital Marketing. Moreover, our customer retention rate was a strong 94% year-over-year as of December 31, 2023, having lost only two customers; one due to an acquisition and the ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ML":"MoneyLion Inc.","AIAD":"Ai Advertising Inc.","BK4009":"广告","BK4166":"消费信贷"},"translate_title":"AiAdvertising报告2023财年财务业绩","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ML":1,"AIAD":0.9},"content_text":"2023 Revenue up 21% to $8.2 Million Driven by Creative Services and Digital Marketing\nCustomer Retention Rate 94% Year-over-Year as of December 31, 2023\nSAN ANTONIO, September 12, 2024--(BUSINESS WIRE)--AiAdvertising, Inc. (OTC: AIAD), an industry leader in AI-powered digital advertising solutions, has reported its financial and operational results for the year ended December 31, 2023.\nKey Fourth Quarter and Subsequent 2024 Highlights and Business Update\n\nRevenue for Q4 2023 was $2.3 million, up 11% from $2.1 million in Q4 2022.\nRevenue for the year ended December 31, 2023, and 2022 was $8.2 million and $6.7, respectively, an increase of 21%.\nGross profit margin of 1.9% in 2023, a notable increase as compared to (8.4%) in the same year ago period.\nPlatform License revenues for the quarter ended December 31, 2023, decreased by 48% to $87,472 due to a business model shift.\nDigital Marketing revenues for the quarter ended December 31, 2023, increased by 14% to $1.76 million.\nCreative Services revenues for the quarter ended December 31, 2023, increased by 31% to $0.46 million.\nNet Loss for the quarter ended December 31, 2023, was ($2.0) million.\nNet Loss for the year ended December 31, 2023, improved by 26% to ($6.3) million.\nNet Cash used in the year ended December 31, 2023, was $5.5 million, compared to cash used of $4.9 million a year ago.\nCompleted the second tranche of its securities purchase agreement with Hexagon Partners, Ltd., a Texas-based investment company, for a strategic investment of $2.5 million.\nCustomer retention rate was a strong 94% year-over-year as of December 31, 2023.\nFirst half 2024 revenue expected to be in the $4.0 to $4.2 million range and FY 2024 revenue expected to be in the $9 to $10 million range on continued strong momentum driven by high customer retention, increased digital marketing budgets, and new customer wins.\n\nManagement Commentary\n\"We continued our systematic cadence of operational execution in the fourth quarter with 11% revenue growth,\" said Jerry Hug, Chairman and CEO of AiAdvertising. \"For the full year, both revenue and net loss improved as we began to see the cumulative results from our efforts over the last year to acquire new customers and strong growth from current customers in Digital Marketing. Moreover, our customer retention rate was a strong 94% year-over-year as of December 31, 2023, having lost only two customers; one due to an acquisition and the other due to the client taking marketing in house.\n\"Benefits of our Campaign Performance Platform and its targeting capabilities continued to garner interest among new clients as cookie-based tracking becomes more in doubt. By applying AI and ML technologies to marketing and advertising solutions, our AdTech software and optimization services allow advertisers to eliminate guesswork, predict creative, and prove performance.\n\"Operationally, we are absolutely seeing the benefits of leveraging our AI tools which augment and automate mundane and repetitive tasks typically thought of as human-like 'seeing, listening, understanding, and creating' by our team. This is evidenced by our operational expenses remaining flat year over year while managing more clients and increased revenue. We extended our partnership with Hexagon Partners with the recent $2.5 million second tranche of its strategic investment, enabling us to focus on further development of our AI-powered targeting solutions to generate more engaging, higher-impact campaigns that drive results for our clients. In addition, with the new investment from Hexagon to propel our sales efforts, we believe we will reach cashflow breakeven in the near term.\n\"As the industry shifts toward solutions leveraging AI, we are focused on scaling our platform while we deliver superior results to our clients and execute on our revenue backlog. We believe we are well positioned to deliver value to our customers, partners and shareholders with first half 2024 revenue expected to be in the $4.0 to $4.2 million range and FY 2024 revenue expected to be in the $9 to $10 million range on continued strong momentum driven by high customer retention, increased digital marketing budgets, and new customer wins. Lastly, we expect to report our first and second quarter 2024 financial results soon and resume timely reporting thereafter,\" concluded Hug.\nFY 2023 Financial Results\nRevenue for the quarter ended December 31, 2023, and 2022 was $2.3 million and $2.1 million, respectively, an increase of 11%. The increase was primarily due to new customer wins in Digital Marketing. The Platform License segment revenues for the quarter ended December 31, 2023, decreased by 48% to $87,472 from the prior year due to management’s focus on a hybrid model of lower platform fees to drive higher customer budget spend. Digital Marketing revenues for the quarter ended December 31, 2023, increased by 14% to $1.76 million as a result of this strategic shift.\nRevenue for the year ended December 31, 2023, and 2022 was $8.2 million and $6.7 million, respectively, an increase of 21%. The increase was primarily due to new customer wins, but additional growth from current customers was additive due to a focus on reduced platform fees for the customer to drive higher budget spend creating more revenue and more profit for AI Advertising. Benefits of the Campaign Performance Platform and its targeting capabilities are garnering interest among new clients as cookie-based tracking becomes more in doubt. The Platform License segment revenues for the year ended December 31, 2023, decreased by 25% to $0.47 million from the prior year. Digital Marketing revenues for the year ended December 31, 2023, increased 33% to $6.1 million.\nGross profit in the fourth quarter of 2023, was ($0.1) million, or (4.2%) of revenues, compared to a gross loss of ($284,558), or (13.7%) of revenues, in the comparable year ago quarter. Gross profit in the year ended December 31, 2023, was $0.2 million, or 1.9% of revenues, compared to a gross loss of ($567,918), or (8.4%) of revenues, in the prior year. Gross profit and gross margin percentage improved due to leveraging our costs over a greater revenue base created by increased customer digital marketing budgets.\nTotal operating expenses for the quarter ended December 31, 2023, were $1.9 million, compared to $1.6 million in the prior year. Total operating expenses for the year ended December 31, 2023, were $6.9 million, compared to $8.0 million in the prior year.\nOperating activities for continuing operations used $5.5 million in net cash for the year ended December 31, 2023, compared to $4.9 million for the year ended December 31, 2022. The increase in cash flow used in operating activities was primarily due to an increase in accounts receivable from revenue growth in the fourth quarter, reduced accounts payable from better liquidity reserves compared to a year ago and reduced deferred revenue at year-end.\nNet loss for the quarter ended December 31, 2023, was ($2.0) million, as compared to a net loss of ($1.9) million in 2022. Net loss for the year ended December 31, 2023, was ($6.3) million, as compared to a net loss of ($8.5) million in 2022.\nCash and cash equivalents totaled $0.1 million at December 31, 2023, as compared to $0.1 million at December 31, 2022.\nJohn C. Small, Chief Financial Officer of AiAdvertising, added, \"As of today, we believe that our existing cash, together with the additional strategic investment of $2.5 million from Hexagon Partners and $0.7 million in account receivables, will be sufficient to meet our anticipated capital requirements to fund planned operations as we approach cash flow breakeven.\"\nAbout AiAdvertising\nAiAdvertising is an AI-powered solutions leader employing the industry’s most scientifically advanced, patent-pending AI targeting process. Transforming marketing and customer experiences, allowing marketers to personify client data and scientifically target their ideal customers with hyper-personalized campaigns. By harnessing artificial intelligence (AI) and machine learning (ML), we empower brands to easily target, predict, create, scale, measure campaign performance and reduce waste. Our clients gain the intelligence they need to prove advertising’s impact on the bottom line. This means more engaging, higher-impact campaigns that drive conversions and results.\nFor more information about the Company, please visit www.AiAdvertising.com or our LinkedIn or Twitter pages.\nForward-Looking Statements\nThis press release may contain \"forward-looking statements.\" Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are included in our filings with the Securities and Exchange Commission, including the \"Risk Factors\" section of our annual report on Form 10-K for the year ended December 31, 2023. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise, except as may be required under applicable law.\n\n\n\n\n\n\n\n\n\n\nAIADVERTISING, INC. AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n\n\n\n\n\n\n\n\n\n\nDecember 31,2023\n\nDecember 31,2022\n\n\n\n\n\n\n\n\n\nASSETS\n\n\n\n\n\n\nCurrent assets:\n\n\n\n\n\n\nCash\n\n$\n110,899\n\n\n$\n55,831\n\n\n\nAccounts receivable, net\n\n\n517,344\n\n\n\n95,300\n\n\n\nPrepaid and other current Assets\n\n\n58,982\n\n\n\n105,076\n\n\n\nTotal current assets\n\n\n687,225\n\n\n\n256,207\n\n\n\n\n\n\n\n\n\n\n\n\nProperty and equipment, net\n\n\n72,948\n\n\n\n102,659\n\n\n\nRight-of-Use assets\n\n\n147,480\n\n\n\n175,974\n\n\n\n\n\n\n\n\n\n\n\n\nOther assets:\n\n\n\n\n\n\n\n\nLease deposit\n\n\n8,939\n\n\n\n8,939\n\n\n\nGoodwill and other intangible assets, net\n\n\n20,202\n\n\n\n20,202\n\n\n\nTotal other assets\n\n\n29,141\n\n\n\n29,141\n\n\n\n\n\n\n\n\n\n\n\n\nTotal assets\n\n\n936,794\n\n\n\n563,981\n\n\n\n\n\n\n\n\n\n\n\n\nLIABILITIES AND SHAREHOLDERS’ DEFICIT\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nCurrent liabilities:\n\n\n\n\n\n\n\n\nAccounts payable\n\n\n1,567,751\n\n\n\n2,071,122\n\n\n\nAccounts payable, related party\n\n\n-\n\n\n\n10,817\n\n\n\nAccrued expenses\n\n\n46,430\n\n\n\n39,233\n\n\n\nOperating lease liability\n\n\n33,572\n\n\n\n28,494\n\n\n\nDeferred revenue and customer deposit\n\n\n533,386\n\n\n\n791,133\n\n\n\nTotal current liabilities\n\n\n2,181,139\n\n\n\n2,940,799\n\n\n\n\n\n\n\n\n\n\n\n\nOperating lease obligation, net of current portion\n\n\n113,907\n\n\n\n147,480\n\n\n\n\n\n\n\n\n\n\n\n\nTotal liabilities\n\n\n2,295,046\n\n\n\n3,088,279\n\n\n\n\n\n\n\n\n\n\n\n\nShareholders’ deficit:\n\n\n\n\n\n\n\n\nPreferred stock, $0.001 par value; 5,000,000 Authorized shares:\n\n\n\n\n\n\n\n\nSeries A Preferred stock; 10,000 authorized, zero and 10,000 shares issued and outstanding;\n\n\n-\n\n\n\n-\n\n\n\nSeries B Preferred stock; 25,000 authorized, 18,025 shares issued and outstanding;\n\n\n18\n\n\n\n18\n\n\n\nSeries C Preferred stock; 25,000 authorized, 14,425 shares issued and outstanding;\n\n\n14\n\n\n\n14\n\n\n\nSeries D Preferred stock; 90,000 authorized, 86,021 and 90,000 shares issued and outstanding;\n\n\n86\n\n\n\n86\n\n\n\nSeries E Preferred stock; 10,000 authorized, 10,000 shares issued and outstanding;\n\n\n10\n\n\n\n10\n\n\n\nSeries F Preferred stock; 800,000 authorized, zero and zero shares issued and outstanding;\n\n\n-\n\n\n\n-\n\n\n\nSeries G Preferred stock; 2,600 authorized, 2,597 shares issued and outstanding;\n\n\n3\n\n\n\n3\n\n\n\nSeries H Preferred stock; 1,000 authorized, zero and zero shares issued and outstanding;\n\n\n-\n\n\n\n-\n\n\n\nSeries I Preferred stock; 3,000,000 authorized, 2,272,727 and zero shares issued and outstanding;\n\n\n2,273\n\n\n\n-\n\n\n\nSeries J Preferred stock; 700 authorized, zero and zero shares issued and outstanding;\n\n\n-\n\n\n\n-\n\n\n\nCommon stock, $0.001 par value; 10,000,000,000 and 2,000,000,000 authorized shares; 1,334,408,773 and 1,175,324,203 shares issued and outstanding, respectively\n\n\n1,334,415\n\n\n\n1,175,330\n\n\n\nAdditional paid in capital\n\n\n56,865,961\n\n\n\n49,595,914\n\n\n\nCommon stock payable, consisting of 5,000,000 shares valued at $0.1128\n\n\n564,000\n\n\n\n564,000\n\n\n\n\n\n\n\n\n\n\n\n\nAccumulated deficit\n\n\n(60,125,032\n)\n\n\n(53,859,673\n)\n\n\n\n\n\n\n\n\n\n\n\nTOTAL SHAREHOLDERS’ EQUITY (DEFICIT)\n\n\n(1,358,252\n)\n\n\n(2,524,298\n)\n\n\n\n\n\n\n\n\n\n\n\nTOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT)\n\n$\n936,794\n\n\n$\n563,981\n\n\n\n\n\n\n\n\n\n\n\n\nAIADVERTISING, INC. AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF OPERATIONS\n\n\n\n\n\n\n\n\n\nTwelve Months EndedDecember 31,\n\n\n\n\n2023\n\n2022\n\n\n\n\n\n\n\n\n\nRevenue\n\n$\n8,170,957\n\n\n$\n6,744,297\n\n\n\n\n\n\n\n\n\n\n\n\nCost of Revenue\n\n\n8,018,382\n\n\n\n7,312,215\n\n\n\nGross Profit\n\n\n152,575\n\n\n\n(567,918\n)\n\n\n\n\n\n\n\n\n\n\n\nSales, general, and administrative expenses\n\n\n6,852,960\n\n\n\n7,952,193\n\n\n\nTotal operating expenses\n\n\n6,852,960\n\n\n\n7,952,193\n\n\n\n\n\n\n\n\n\n\n\n\nLoss from operations\n\n\n(6,700,385\n)\n\n\n(8,520,111\n)\n\n\n\n\n\n\n\n\n\n\n\nOther income (expense)\n\n\n\n\n\n\n\n\nOther income\n\n\n435,026\n\n\n\n4,990\n\n\n\nGain (loss) on Sales of Discontinued Operations\n\n\n-\n\n\n\n25,197\n\n\n\nTotal other income\n\n\n435,026\n\n\n\n30,187\n\n\n\n\n\n\n\n\n\n\n\n\nLoss from operations before income taxes\n\n\n(6,265,359\n)\n\n\n(8,489,924\n)\n\n\n\n\n\n\n\n\n\n\n\nProvision for income taxes\n\n\n-\n\n\n\n-\n\n\n\n\n\n\n\n\n\n\n\n\nNet Loss\n\n\n(6,265,359\n)\n\n\n(8,489,924\n)\n\n\n\n\n\n\n\n\n\n\n\nDividends on preferred stock\n\n\n-\n\n\n\n-\n\n\n\n\n\n\n\n\n\n\n\n\nNet loss attributable to common shareholders\n\n$\n(6,265,359\n)\n\n$\n(8,489,924\n)\n\n\n\n\n\n\n\n\n\n\n\nNet loss per share:\n\n\n\n\n\n\n\n\nBasic\n\n$\n(0.00\n)\n\n$\n(0.01\n)\n\n\nDiluted\n\n$\n(0.00\n)\n\n$\n(0.01\n)\n\n\n\n\n\n\n\n\n\n\n\nWeighted-average common shares outstanding:\n\n\n\n\n\n\n\n\nBasic\n\n\n1,313,030,101\n\n\n\n1,123,312,864\n\n\n\nDiluted\n\n\n1,313,030,101\n\n\n\n1,123,312,864\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAIADVERTISING, INC. AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n\n\n\n\n\n\n\n\n\n\n\nFor theTwelve Months\n\nFor theTwelve Months\n\n\n\n\nEnded\n\nEnded\n\n\n\n\nDecember 31,\n\nDecember 31,\n\n\n\n\n2023\n\n2022\n\n\nCASH FLOWS FROM OPERATING ACTIVITIES\n\n\n\n\n\n\nNet Loss\n\n$\n(6,265,359\n)\n\n$\n(8,489,924\n)\n\n\nAdjustment to reconcile net (loss) income to net cash used in operating activities:\n\n\n\n\n\n\n\n\nBad debt expense\n\n\n272,532\n\n\n\n(1,180\n)\n\n\nDepreciation and amortization\n\n\n31,813\n\n\n\n37,553\n\n\n\nGain on extinguishment of debt\n\n\n\n\n\n(4,990\n)\n\n\nGain on sale of discontinued operations\n\n\n-\n\n\n\n(25,197\n)\n\n\nStock based compensation\n\n\n1,831,977\n\n\n\n1,891,371\n\n\n\nNon-cash service expense\n\n\n-\n\n\n\n123,374\n\n\n\nChanges in assets and liabilities:\n\n\n\n\n\n\n\n\nAccounts receivable\n\n\n(694,576\n)\n\n\n403,302\n\n\n\nPrepaid expenses and other assets\n\n\n46,094\n\n\n\n77,351\n\n\n\nCosts in excess of billings\n\n\n-\n\n\n\n27,779\n\n\n\nLease deposit\n\n\n-\n\n\n\n861\n\n\n\nRight-of-use assets\n\n\n28,494\n\n\n\n-\n\n\n\nAccounts payable\n\n\n(514,188\n)\n\n\n1,279,395\n\n\n\nAccrued expenses\n\n\n7,197\n\n\n\n(32,925\n)\n\n\nOperating lease liability\n\n\n(28,495\n)\n\n\n-\n\n\n\nDeferred revenue\n\n\n(257,747\n)\n\n\n299,498\n\n\n\nNet cash (used in) provided by operating activities\n\n\n(5,542,258\n)\n\n\n(4,413,732\n)\n\n\n\n\n\n\n\n\n\n\n\nINVESTING ACTIVITIES\n\n\n\n\n\n\n\n\nCash paid for fixed assets\n\n\n(2,102\n)\n\n\n(20,973\n)\n\n\nProceeds from sale of discontinued operations\n\n\n-\n\n\n\n25,197\n\n\n\nNet cash provided by (used in) investing activities\n\n\n(2,102\n)\n\n\n4,224\n\n\n\n\n\n\n\n\n\n\n\n\nFINANCING ACTIVITIES\n\n\n\n\n\n\n\n\nProceeds from sale of common stock\n\n\n599,428\n\n\n\n1,033,884\n\n\n\nProceeds from sale of preferred stock\n\n\n5,000,000\n\n\n\n-\n\n\n\nNet cash provided by (used in) financing activities\n\n\n5,599,428\n\n\n\n1,033,884\n\n\n\n\n\n\n\n\n\n\n\n\nNet increase in cash and cash equivalents\n\n\n55,068\n\n\n\n(3,375,624\n)\n\n\n\n\n\n\n\n\n\n\n\nCash and cash equivalents at beginning of period\n\n\n55,831\n\n\n\n3,431,455\n\n\n\n\n\n\n\n\n\n\n\n\nCash and cash equivalents at end of period\n\n$\n110,899\n\n\n$\n55,831\n\n\n\n\n\n\n\n\n\n\n\n\nSUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:\n\n\n\n\n\n\n\n\nInterest paid\n\n$\n-\n\n\n$\n-\n\n\n\nIncome taxes paid\n\n$\n-\n\n\n$\n-\n\n\n\n\n\n\n\n\n\n\n\n\nNON-CASH INVESTING AND FINANCING ACTIVITIES:\n\n\n\n\n\n\n\n\nRight of use asset exchanged for lease liability\n\n$\n-\n\n\n$\n186,706\n\n\n\nChange in right of use asset\n\n$\n-\n\n\n$\n(70,608\n)\n\n\nRetired stock issuance\n\n$\n-\n\n\n$\n2,940\n\n\n\nExercise of stock options\n\n$\n3,931\n\n\n$\n3,190\n\n\n\n\nView source version on businesswire.com: https://www.businesswire.com/news/home/20240912466664/en/\nContacts\nInvestor Contact:Larry Holub/Chris Tyson312-261-6412AIAD@mzgroup.us www.mzgroup.us","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2466759612"}