Mobiquity Technologies files Form 10-Q for period ending September 30, 2022 to Regain Compliance

Rhea-AI Summary

Mobiquity Technologies, Inc. (Nasdaq: MOBQ) has filed its Form 10-Q for the period ending September 30, 2022, restoring compliance with Nasdaq Listing Rule 5250 (c)(1). The delay in filing was due to an overstatement of losses for the fiscal years 2020 and 2021. Additionally, an amended 10-K/A has been filed to correct these net losses. Mobiquity is a provider of data intelligence and advertising technologies, maintaining a robust audience database and offering programmatic advertising solutions through its Advangelists subsidiary.

Positive

• Regained compliance with Nasdaq Listing Rule 5250 (c)(1) with the filing of Form 10-Q.
• Filed an amended 10-K/A to correct overstatements of net losses, enhancing financial integrity.

Negative

• Delay in filing due to overstatement of previous losses, impacting investor confidence.

NEW YORK, Dec. 09, 2022 (GLOBE NEWSWIRE) -- Mobiquity Technologies, Inc. (Nasdaq: MOBQ) (the “Company”), a leading provider of next-generation data intelligence and advertising technologies, announces that it filed its Form 10-Q for the period ended September 30, 2022. The filing allows the Company to regain compliance with Nasdaq Listing Rule 5250 (c)(1) for continued listing.

As previously outlined, the delay was the result of an overstatement of losses for the fiscal years ended December 31, 2020 and 2021. The Company has also filed an amended 10-K/A to correct the overstatement of net losses.

About Mobiquity Technologies

Mobiquity Technologies, Inc. is a next-generation, Platform-as-a-Service (PaaS) company for data and advertising. The Company maintains one of the largest audience databases available to advertisers and marketers through its data services division. Mobiquity Technologies’ Advangelists subsidiary (www.advangelists.com) provides programmatic advertising technologies and insights on consumer behavior. For more information, please visit: https://mobiquitytechnologies.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Mobiquity Technologies, Inc. Investor Relations:

Columbia Marketing Group
Email: john@TheColumbiaMarketingGroup.com
Phone: 646-736-1900

FAQ

What is the significance of Mobiquity Technologies' Form 10-Q filing on December 9, 2022?

The filing is significant as it allows Mobiquity Technologies (MOBQ) to regain compliance with Nasdaq Listing Rule 5250 (c)(1) for continued listing.

What caused the delay in Mobiquity Technologies' 10-Q filing?

The delay was due to an overstatement of losses for the fiscal years ended December 31, 2020, and 2021.

What corrective actions did Mobiquity Technologies take regarding its financial reporting?

Mobiquity Technologies filed an amended 10-K/A to correct the overstatement of net losses from prior years.