CyberloQ Technologies, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>CyberloQ Technologies, Inc. has submitted its 2023 annual report detailing its operations in prepackaged software services.</b>

AI Summary

CYBERLOQ TECHNOLOGIES, INC. (CLOQ) filed a Annual Report (10-K) with the SEC on March 29, 2024. CyberloQ Technologies, Inc. filed its annual report for the fiscal year ending December 31, 2023. The company's principal business is Services-Prepackaged Software (SIC 7372). The filing covers the period from January 1, 2023, to December 31, 2023. The company's business address is 4837 Swift Road, Suite 210-1, Sarasota, FL 34231. The filing was made on March 29, 2024.

Why It Matters

For investors and stakeholders tracking CYBERLOQ TECHNOLOGIES, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of CyberloQ's financial performance, business operations, and risk factors for the fiscal year 2023, crucial for investors to assess the company's health and future prospects. The detailed information within the report, including financial statements and business descriptions, is essential for stakeholders to understand the company's strategic direction and its position within the software services industry.

Risk Assessment

Risk Level: medium — CYBERLOQ TECHNOLOGIES, INC. shows moderate risk based on this filing. The company's business is heavily reliant on software development and services, which are subject to rapid technological changes and competitive pressures, as indicated by its SIC code and business descriptions.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand CyberloQ's operational performance and market position.

Key Numbers

• 20231231 — Fiscal Year End (Conformed period of report)
• 20240329 — Filing Date (Filed as of date)
• 7372 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• CYBERLOQ TECHNOLOGIES, INC. (company) — Filer name
• CLOQ (company) — Ticker symbol
• 4837 SWIFT ROAD SUITE 210-1 (company) — Business address
• SARASOTA (company) — Business address city
• FL (company) — Business address state
• 34231 (company) — Business address zip
• ADVANCED CREDIT TECHNOLOGIES INC (company) — Former company name

FAQ

Industry Context

CyberloQ Technologies, Inc. operates within the prepackaged software services industry, a sector characterized by rapid innovation and evolving market demands.

Regulatory Implications

As a publicly traded company, CyberloQ Technologies, Inc. is subject to the reporting requirements of the U.S. Securities and Exchange Commission (SEC), including the annual filing of Form 10-K.

What Investors Should Do

1. Review the full 10-K filing for detailed financial statements and management discussion.
2. Analyze the risk factors section to understand potential challenges facing CyberloQ Technologies.
3. Compare CyberloQ's reported performance against industry benchmarks and competitors.

Key Dates

• 2024-03-29: Filing Date — Submission of the 2023 annual report (10-K)
• 2023-12-31: Fiscal Year End — Period covered by the annual report

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This is the primary document filed by CyberloQ Technologies, Inc. to report its annual financial status.)

SIC Code

Standard Industrial Classification code used to classify industries. (Indicates CyberloQ Technologies, Inc. operates in the 'Services-Prepackaged Software' sector.)

Year-Over-Year Comparison

This is the initial filing of the 2023 annual report (10-K) for CyberloQ Technologies, Inc.

Key Financial Figures

• $766 — lephone number is 612-961-4536. Rent is $766 per month including phone and internet.
• $0.11 — Bulletin Board on December 31, 2023 was $0.11 per share. As of December 31, 2023, the
• $1,458,565 — of December 31, 2023, total assets were $1,458,565 compared to $341,118 in assets as of De
• $341,118 — otal assets were $1,458,565 compared to $341,118 in assets as of December 31, 2022. The
• $283,240 — e Company's fixed assets increased from $283,240 to $1,096,827 due to the capitalization
• $1,096,827 — fixed assets increased from $283,240 to $1,096,827 due to the capitalization of the Cyberl
• $53,811 — ompany's prepaid expense decreased from $53,811 to $44,564 due to the Company's issuanc
• $44,564 — epaid expense decreased from $53,811 to $44,564 due to the Company's issuance of 50,000
• $307,174 — ddition, the Company's cash assets were $307,174 as of December 31, 2023 as opposed to $
• $4,067 — 4 as of December 31, 2023 as opposed to $4,067 as of December 31, 2022. As of Decemb
• $1,021,359 — of December 31, 2023, liabilities were $1,021,359 compared to $324,132 in liabilities as
• $324,132 — liabilities were $1,021,359 compared to $324,132 in liabilities as of December 31, 2022.
• $572,095 — se in the Company's convertible debt of $572,095, an increase in accrued interest of $84
• $84,948 — 095, an increase in accrued interest of $84,948, and an increase in accrued expenses of
• $48,324 — and an increase in accrued expenses of $48,324. Net cash used in operating activitie

Filing Documents

• form10-k.htm (10-K) — 913KB
• ex31-1.htm (EX-31.1) — 19KB
• ex32-1.htm (EX-32.1) — 8KB
• form10-k_001.jpg (GRAPHIC) — 3KB
• form10-k_002.jpg (GRAPHIC) — 7KB
• 0001493152-24-011921.txt (&nbsp;) — 4347KB
• cloq-20231231.xsd (EX-101.SCH) — 32KB
• cloq-20231231_cal.xml (EX-101.CAL) — 44KB
• cloq-20231231_def.xml (EX-101.DEF) — 159KB
• cloq-20231231_lab.xml (EX-101.LAB) — 277KB
• cloq-20231231_pre.xml (EX-101.PRE) — 219KB
• form10-k_htm.xml (XML) — 506KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 4 Item 1B. Unresolved Staff Comments 5 Item 1C. Cybersecurity 5 Item 2.

Properties

Properties 5 Item 3.

Legal Proceedings

Legal Proceedings 5 Item 4. Mine Safety Disclosures 5 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 5 Item 6.

Selected Financial Data

Selected Financial Data 6 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 6 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 7 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 7 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 7 Item 9A.

Controls and Procedures

Controls and Procedures 8 Item 9B. Other Information 8 PART III Item 10. Directors, Executive Officers and Corporate Governance 8 Item 11.

Executive Compensation

Executive Compensation 10 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 11 Item 13. Certain Relationships and Related Transactions, and Director Independence 13 Item 14. Principal Accounting Fees and Services 14 PART IV Item 15. Exhibits and Financial Statement Schedules 15

Signatures

Signatures 16 2 PART I SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This annual report on Form 10-K and the documents incorporated by reference herein contain forward-looking statements that are not statements of historical fact and may involve a number of risks and uncertainties. These statements related to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements may also relate to our future prospects, developments and business strategies. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "proposed," "intended," or "continue" or the negative of these terms or other comparable terminology. You should read statements that contain these words carefully, because they discuss our expectations about our future operating results or our future financial condition or state other "forward-looking" information. There may be events in the future that we are not able to accurately predict or control. Before you invest in our securities, you should be aware that the occurrence of any of the events described in this Annual Report could substantially harm our business, results of operations and financial condition, and that upon the occurrence of any of these events, the trading price of our securities could decline and you could lose all or part of your investment. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, growth rates, levels of activity, per

BUSINESS

BUSINESS Company History CyberloQ Technologies Inc. ("CLOQ", We" or the "Company") was incorporated in Nevada on February 5, 2008 as Advanced Credit Technologies, Inc. The Company changed its name to CyberloQ Technologies, Inc. on November 20, 2019. The Company has never been the subject of any bankruptcy, receivership or similar proceeding. The Company has never been involved in any material reclassification, merger, or consolidation. On June 15, 2017, the Company created a private limited company in the United Kingdom named CyberloQ Technologies LTD. CyberloQ Technologies LTD is a wholly-owned subsidiary of the Company, and any business that the Company has in the United Kingdom will be transacted through CyberloQ Technologies LTD. However, CyberloQ Technologies LTD had no activity, operational or otherwise, and is now dissolved. Current Overview of the Company The Company is a development-stage technology company focused on fraud prevention and credit management. 3 The Company offers a proprietary software platform branded as CyberloQ. While previously the Company licensed CyberloQ, in the third quarter of 2017, the Company acquired the CyberloQ technology and is now the exclusive owner of CyberloQ. CyberloQ is a MFA ( Multi Factor Authentication ) protocol technology that is offered to institutional clients in order to combat fraudulent transactions and unauthorized access to customer accounts and or any digital asset. Through the use of a customer's smart-phone, CyberloQ uses a multi-factor authentication system to control access to a bank card, transaction type or amount, website, database or digital service. The mobile applications for CyberloQ have been built, and have been successfully integrated into the banking ecosystem. The Company has also updated the entire infrastructure, UI/UX and streamlined the deliverable services per strategic partnerships with clients in multiple channels in order to increase the scalability of the original plat

PROPERTIES

PROPERTIES The Company's corporate office is located at 4837 Swift Road Suite 210-1 Sarasota, FL 34231, and our telephone number is 612-961-4536. Rent is $766 per month including phone and internet. The Company does not presently hold any investments or interests in real estate, investments in real estate mortgages or securities of or interests in persons primarily engaged in real estate activities. ITEM 3. LEGAL PROCEEDINGS The Company is not currently a party to any legal proceedings, nor is the Company a party to any administrative proceedings. On February 13, 2024, the Superior Court of New Jersey entered an order granting the request of Cyberloq Technologies, Inc., a Nevada corporation (the "Company") to dismiss the matter of Mark Carten v. Cyberloq Technologies, Inc. (UNN-L-3456-22). The litigation has now been dismissed without prejudice and is no longer pending. In addition, the Company's officers and directors have not been convicted in any criminal proceedings nor have they been permanently or temporarily enjoined, barred, suspended or otherwise limited from involvement in any type of securities or banking activities. ITEM 4. MINE SAFETY DISCLOSURES None. PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Our common stock currently trades on the OTC Bulletin Board under the symbol "CLOQ." The following table states the range of the high and low bid-prices per share of our common stock for each of the calendar quarters for fiscal years 2023 and 2022, as reported by the OTC Bulletin Board. These quotations represent inter-dealer prices, without retail mark-up, markdown, or commission, and may not represent actual transactions. The last price of our common stock as reported on the OTC Bulletin Board on December 31, 2023 was $0.11 per share. As of December 31, 2023, there were 142 shareholders of record of our common stock. This number does not include beneficial ow

View Full Filing

View this 10-K filing on SEC EDGAR