Exhibit 99.1

 

VERB TECHNOLOGY COMPANY, INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET

(in thousands, except share and per share data)

 

   March 31, 2024
ASSETS     
      
Current assets     
Cash  $14,182 
Prepaid expenses and other current assets   313 
Total current assets   14,495 
      
Capitalized software development costs, net   3,741 
ERC receivable   1,528 
Property and equipment, net   60 
Operating lease right-of-use assets   208 
Intangible assets, net   135 
Other non-current assets   259 
      
Total assets  $20,426 
      
LIABILITIES AND STOCKHOLDERS’ EQUITY     
      
Current liabilities     
Accounts payable  $1,083 
Accrued expenses   3,015 
Accrued officers’ compensation   901 
Notes payable, current   1,024 
Preferred dividends payable   75 
Operating lease liabilities, current   70 
      
Total current liabilities   6,168 
      
Long-term liabilities     
Notes payable, non-current   113 
Operating lease liabilities, non-current   144 
Total liabilities   6,425 
      
Commitments and contingencies     
      
Stockholders’ equity     
Series C Preferred Stock, $0.0001 par value, 5,000 shares authorized, 3,000 shares issued and outstanding as of March 31, 2024   2,980 
Class A units, 3 shares issued and authorized as of March 31, 2024   -   
Common stock, $0.0001 par value, 400,000,000 shares authorized, 79,300,788 shares issued and outstanding as of March 31, 2024   8 
Additional paid-in capital   190,155 
Accumulated deficit   (179,142)
      
Total stockholders’ equity   14,001 
      
Total liabilities and stockholders’ equity  $20,426