Exhibit 99.1

 

VERB TECHNOLOGY COMPANY, INC.

CONSOLIDATED UNAUDITED BALANCE SHEET

(in thousands, except share and per share data)

 

   2022 
ASSETS     
      
Current assets     
Cash  $4,353 
Prepaid expenses and other current assets   331 
Total current assets   4,684 
      
Capitalized software development costs, net   3,990 
ERC receivable   1,528 
Property and equipment, net   43 
Operating lease right-of-use assets   218 
Intangible assets, net   117 
Other non-current assets   259 
      
Total assets  $10,839 
      
LIABILITIES AND STOCKHOLDERS’ EQUITY     
      
Current liabilities     
Accounts payable  $1,408 
Accrued expenses   3,278 
Accrued officers’ compensation   648 
Notes payable, current   1,787 
Operating lease liabilities, current   67 
      
Total current liabilities   7,188 
      
Long-term liabilities     
Notes payable, non-current   362 
Operating lease liabilities, non-current   164 
Total liabilities   7,714 
      
Commitments and contingencies     
      
Stockholders’ equity     
Series C Preferred Stock, $0.0001 par value, 5,000 shares authorized, 3,000 and 0 shares issued and outstanding as of December 31, 2023 and 2022   2,980 
Class A units, 3 shares issued and authorized as of December 31, 2023 and 2022   - 
Common stock, $0.0001 par value, 400,000,000 shares authorized, 21,231,355 and 2,918,017 shares issued and outstanding as of December 31, 2023 and December 31, 2022   2 
Additional paid-in capital   175,765 
Accumulated deficit   (175,622)
      
Total stockholders’ equity   3,125 
      
Total liabilities and stockholders’ equity  $10,839