Company Overview - micromobility.com, Inc.

Core Business

• Primary Focus: Transitioned from micromobility and media services to software development and business services in 2024.
• Services Provided:
  • Software development and advisory services for transportation, mobility, and technology sectors.
  • Delivery of white-label enterprise software solutions.
  • Consulting for entities preparing for IPOs (initial public offerings).
• Revenue:
  • Generated approximately $1.4 million in 2024 solely from providing software development services to a related-party client, Everli S.p.A.

Business History & Transformations

• Originally incorporated in 2015 in Delaware as an intra-urban transportation company.
• In August 2021, merged with Helbiz Holdings, Inc., changing its name to Helbiz, Inc.
• Previously offered micromobility solutions in the U.S. but sold the last licenses in 2024 and exited U.S. micromobility operations.
• Also exited European mobility operations in 2024 due to sector decline and inability to raise additional capital.
• As of December 31, 2024, the company sold subsidiaries involved in European mobility and media brands to a related party (major shareholder) for $0.1 million, aiming to reduce debt.

Operations & Activities

• Software Development and Advisory:
  • Started in 2024, with a single client, Everli S.p.A., a related-party controlled by the Company’s major shareholder.
  • Revenue from this line was ~$1.4 million for 2024.
• Discontinued Operations:
  • Mobility services in the U.S. and Europe, media and broadcasting businesses, have been sold or shut down in 2024.
  • As of April 2025, no longer have mobility or media operations.

Employees & Personnel

• As of March 31, 2025:
  • 27 full-time employees
  • 2 part-time employees
• Employees are primarily based in New York, NY, and Belgrade, Serbia.
• No unionized employees; relations are generally good.

Customer Base

• Only known client for software development services: Everli S.p.A. (related-party; majority owned by the CEO/major shareholder).
• No publicly disclosed third-party customers for software or other services as of 2024.

Key Agreements & Transactions

• Significant transactions involve related-party deals:
  • Sale of European subsidiaries and assets to related-party Palella Holdings LLC for $0.1 million.
  • Software services to Everli under multiple agreements, with ongoing negotiations for some contracts.
  • Extinguishment of certain debts and liabilities, including sale of Wheels Lab, Inc. (a U.S. mobility business) for liabilities assumed by the buyer.
• Debt:
  • As of December 31, 2024:
    • Approximately $10.5 million in total liabilities, including:
      • $6.3 million in related-party secured convertible loans (defaulted).
      • $3.9 million in unsecured loans (defaulted).
      • Other liabilities including promissory notes and financial liabilities.

Financial Highlights (2024)

• Total Revenue: ~$1.4 million (from related-party software services)
• Net Loss:
  • From continuing operations: $(2.4 million)
  • From discontinued operations: $10.5 million (primarily due to sale of assets and operations)
• Total Net Income (Loss): $8.1 million (including discontinued operations)
• Cash & Cash Equivalents: $0.4 million (as of end of 2024)
• Employees: 27 full-time, 2 part-time

Summary

micromobility.com, Inc. is a technology and software enterprise that shifted from operating mobility and media businesses to focus on providing enterprise software development and consulting services, leveraging its operational and data expertise in transportation and technology sectors. As of 2024, the company has exited U.S. and European mobility operations, sold related assets, and operates primarily through a small team in New York and Serbia, with all revenue derived from software services to a related-party client. The company faces significant financial challenges, including defaults on debts and ongoing legal proceedings.