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Janover Inc

For the period ended Sep 30, 2024. Filed Nov 7, 2024.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2024 · Filed Nov 7, 2024

DFDV$3.35+5.7%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

Form

10-Q

(Mark One)

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 FROM _________ to __________

COMMISSION FILE NUMBER 001-41748

(Exact name of registrant as specified in its charter)

Delaware83-2676794
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
6401 Congress Avenue, Suite 250 Boca Raton, FL 33487(561) 559-4111
(Address of principal executive offices) (Zip Code)(Registrant’s telephone number, including area code)

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

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.00001 per shareJNVRThe Nasdaq Stock Market LLC

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

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

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 filerAccelerated filer
Non-accelerated filerSmaller reporting company
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

As of

November 7

, 2024, the registrant had a total of 11,299,582 shares of its common stock, par value $0.00001 per share, issued and outstanding.

INDEX TO FORM 10-Q

Page #
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements (Unaudited)
Condensed Consolidated Balance Sheets as of September 30, 2024, and December 31, 20234
Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 20235
Condensed Consolidated Statements of Changes in Stockholders’ Equity for the Three and Nine Months Ended September 30, 2024 and 20236
Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 20237
Notes to Condensed Consolidated Financial Statements8
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations18
Item 3. Quantitative and Qualitative Disclosures About Market Risk29
Item 4. Controls and Procedures29
PART II - OTHER INFORMATION
Item 1. Legal Proceedings30
Item 1A. Risk Factors30
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds30
Item 3. Defaults Upon Senior Securities30
Item 4. Mine Safety Disclosures30
Item 5.Other Information30
Item 6. Exhibits30
Signatures31

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends impacting the financial condition of our business. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Forward-looking statements include all statements that are not historical facts. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “could,” “would,” “expect,” “intend,” “seek,” “plan,” “anticipate,” “believe,” “estimate,” “project,” “predict,” “potential,” “might,” “forecast,” “continue,” or the negative of those terms, and similar expressions and comparable terminology intended to reference future periods. Forward-looking statements include, but are not limited to, statements about:

·the effect of and uncertainties related the ongoing volatility in interest rates;
·our ability to achieve and maintain profitability in the future;
·the impact on our business of the regulatory environment and complexities with compliance related to such environment;
·our ability to respond to general economic conditions;
·our ability to manage our growth effectively and our expectations regarding the development and expansion of our business;
·our ability to access sources of capital, including debt financing and other sources of capital to finance operations and growth;
·the success of our marketing efforts to access additional sales channels and our ability to expand our lender and borrower base;
·our ability to grow market share in existing markets or any new markets we may enter;
·our ability to develop new products, features and functionality that are competitive and meet market needs;
·our ability to realize the benefits of our strategy, including our financial services and platform productivity;
·our ability to make accurate credit and pricing decisions or effectively forecast our loss rates;
·our ability to establish and maintain effective system of internal controls over financial reporting;
·our ability to maintain the listing of our securities on Nasdaq;
·sales of our common stock by us or our stockholders, which may result in increased volatility in our stock price;
·the outcome of any legal or governmental proceedings that may be instituted against us; and
·other factors detailed under the section titled “Risk Factors” in the Company’s Annual Report on Form 10-K, which was filed with the SEC on March 28, 2024.

Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned.

Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We cannot guarantee future results, levels of activity, performance or achievements. Accordingly, the forward-looking statements in this Quarterly Report on Form 10-Q should not be regarded as representations that the results or conditions described in such statements will occur or that our objectives and plans will be achieved, and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements.

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