secwatch.observer — SEC 8-K summary
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Issuer:     micromobility.com Inc. (MCOM)
CIK:        0001788841
Form:       8-K/A
Filed at:   2023-02-03T23:59:59+00:00
Accession:  0001553350-23-000075
Event type: m_and_a
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 2.01, 3.02, 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Helbiz provides Wheels Labs audited financials showing $32.4M net loss and going concern
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- Acquisition consideration: ~6.75M Series A convertible preferred shares (6.99% of HLBZ common stock pre-close), convertible 1:1 on stockholder approval; 7.5% annual dividend.
- Wheels 2021 net loss $32.4M, accumulated deficit $121.1M as of Dec 31, 2021.
- Wheels 2021 revenue $9.8M, cost of revenue $13.5M, vehicle depreciation $9.9M, negative gross margin.
- Auditor going-concern emphasis: Wheels has recurring losses, negative operating cash flows ($18.5M in 2021), working capital deficit $2.2M.
- Helbiz also issued 20M shares upon conversion of ~$3.4M in debentures; insider debt conversions and shares for services.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1788841/000155335023000075/0001553350-23-000075-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1788841/000155335023000075/helbiz_8k.htm
  HTML page:      https://secwatch.observer/filing/0001553350-23-000075

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer