SEC Form 10-Q filed by Socket Mobile Inc.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 10-Q

 

 

(X)

QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

 

For the quarterly period ended September 30, 2024

 

OR

 

 

( )

TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

 

For the transition period ___________________ to _____________________.

 

Commission file number 1-13810

 

SOCKET MOBILE, INC.

(Exact name of registrant as specified in its charter)

 

Delaware		94-3155066
(State of incorporation)		(IRS Employer Identification No.)

 

40675 Encyclopedia Circle, Fremont, CA 94538

(Address of principal executive offices including zip code)

 

(510) 933-3000

(Registrant’s telephone number, including area code)

 

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock, $0.001 Par Value per Share	SCKT	NASDAQ

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES [ X ] NO [ ]

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). YES [ X ] NO [ ]

 

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filer [X]

Smaller reporting company [X] Emerging growth company [ ]

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES [ ] NO [X]

 

The number of shares of Common Stock ($0.001 par value) outstanding as of November 1, 2024 was 7,605,270 shares.

 

 

 

 

 

 

 

 

 

 

 

INDEX

 

 

			PAGE NO.
Part I.  Financial Information
Item 1.  Financial Statements (Unaudited):
Condensed Statements of Operations – Three Months and Nine Months Ended September 30, 2024 and 2023 (Unaudited)			1
Condensed Balance Sheets - September 30, 2024 (Unaudited) and December 31, 2023			2
Condensed Statements of Stockholders’ Equity – Three Months and Nine Months Ended September 30, 2024 and 2023 (Unaudited)			3
Condensed Statements of Cash Flows - Nine Months Ended September 30, 2024 and 2023 (Unaudited)			5
Notes to Condensed Financial Statements (Unaudited)			6
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations			16
Item 3.  Quantitative and Qualitative Disclosures about Market Risk			23
Item 4.  Controls and Procedures			23
Part II.  Other Information
Item 1A.  Risk Factors			24
Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds