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DEF 14A
ULY
Urgent.ly Inc
29 Apr 24
Definitive proxy
4:01pm
The following table presents fees for professional audit services and other services billed to us by CohnReznick for the fiscal years ended December 31, 2023 and 2022.
2023 | 2022 | |||||
Audit Fees(1) | $ | 1,468,853 | $ | 394,989 | ||
Audit-Related Fees(2) | — | — | ||||
Tax Fees(3) | — | — | ||||
All Other Fees(4) | — | — | ||||
Total Fees | $ | 1,468,853 | $ | 394,989 |
10-K
2023 FY
ULY
Urgent.ly Inc
29 Mar 24
Annual report
4:18pm
Year Ended December 31, | ||||||||||||
2023 | 2022 | 2021 | ||||||||||
Federal statutory rate | 21.00 | % | 21.00 | % | 21.00 | % | ||||||
State income taxes, net of federal income tax benefit | (3.27 | )% | 2.50 | % | 1.26 | % | ||||||
Foreign taxes | (0.58 | )% | 0.99 | % | 0.00 | % | ||||||
Permanent differences | (36.95 | )% | (6.52 | )% | (1.71 | )% | ||||||
Changes in tax rates | 0.03 | % | 0.06 | % | (0.19 | )% | ||||||
Foreign rate differential | (0.53 | )% | 0.00 | % | 2.53 | % | ||||||
Change in valuation allowance | 16.81 | % | (18.43 | )% | (22.99 | )% | ||||||
Other | 0.54 | % | 0.40 | % | 0.10 | % | ||||||
Effective tax rate | (2.95 | )% | 0.00 | % | 0.00 | % |
10-K
2023 FY
ULY
Urgent.ly Inc
29 Mar 24
Annual report
4:18pm
As of December 31, | ||||||||
2023 | 2022 | |||||||
Deferred tax assets (liabilities): | ||||||||
Depreciation and amortization | $ | (857) | $ | 17 | ||||
Stock-based compensation | 349 | 43 | ||||||
Unrealized gain (loss) | 98 | — | ||||||
Accrued expenses | 607 | 68 | ||||||
Charitable contributions | 24 | 24 | ||||||
Capitalized R&D expenditures | 3,450 | 938 | ||||||
Right of use assets / lease liability | 76 | 90 | ||||||
Interest expense | 10,170 | 3,783 | ||||||
State taxes | 2 | — | ||||||
Federal and state net operating loss carryforward | 94,121 | 42,663 | ||||||
Total net deferred tax assets | 108,040 | 47,626 | ||||||
Less valuation allowance | (108,040) | (47,626) | ||||||
Net deferred tax assets | $ | — | $ | — |
10-K
2023 FY
ULY
Urgent.ly Inc
29 Mar 24
Annual report
4:18pm
Assets: | ||||
Cash and cash equivalents | $ | 44,717 | ||
Short-term deposits | 10,415 | |||
Marketable securities | 57,577 | |||
Accounts receivable | 694 | |||
Prepaid expenses and other current assets | 883 | |||
Right-of-use assets | 622 | |||
Property and equipment, net | 662 | |||
Intangible assets | 9,940 | |||
Other non-current assets | 306 | |||
Total assets acquired | 125,816 | |||
Liabilities: | ||||
Accounts payable | 5,618 | |||
Accrued expenses and other payables | 8,800 | |||
Deferred revenue | 225 | |||
Lease liabilities | 622 | |||
Deferred tax liability | 2,385 | |||
Total liabilities assumed | 17,650 | |||
Bargain purchase gain | (73,410) | |||
Total purchase consideration | $ | 34,756 | ||
Components of purchase price: | ||||
Common stock | $ | 31,032 | ||
Contingent consideration | 3,724 | |||
Total purchase consideration | $ | 34,756 |
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