Destiny Media Technologies Files 2024 10-K

TL;DR

DSNY 10-K filed: FY24 results are in. Check financials for the latest.

AI Summary

Destiny Media Technologies Inc. filed its 2024 10-K report, detailing its fiscal year ending August 31, 2024. The company, incorporated in Nevada, operates in the prepackaged software industry. Its principal executive offices are located at 1110 - 885 W Georgia St, Vancouver, BC, V6C 3E8.

Why It Matters

This filing provides a comprehensive overview of Destiny Media Technologies' financial performance and operational status for the fiscal year 2024, crucial for investors and stakeholders to assess the company's health and future prospects.

Risk Assessment

Risk Level: medium — The filing is a standard 10-K, but the company's specific financial performance and market position, not detailed here, would determine the true risk level.

Key Numbers

• FY2024 — Fiscal Year End (The reporting period covered by the 10-K filing.)
• 2024-08-31 — Reporting Period End Date (Specific date marking the end of the fiscal year.)
• 2024-11-21 — Filing Date (Date the 10-K was officially submitted to the SEC.)

Key Players & Entities

• Destiny Media Technologies Inc. (company) — Filer of the 10-K
• 2024-08-31 (date) — Fiscal year end
• 2024-11-21 (date) — Filing date
• 7372 (industry_code) — Standard Industrial Classification for Prepackaged Software
• NV (state) — State of incorporation
• 1110 - 885 W Georgia St, Vancouver, BC, V6C 3E8 (address) — Business and mailing address

FAQ

Key Financial Figures

• $0.001 — 2(g) of the Exchange Act: COMMON STOCK, $0.001 PAR VALUE PER SHARE Indicate by check
• $0.90 — TC Link alternative quotation system of $0.90. For purposes of this response, the reg
• $0 — he registrant's common stock, par value $0.001, as of November 20, 2024 was 9,637,

Filing Documents

• form10k.htm (10-K) — 920KB
• exhibit21-1.htm (EX-21.1) — 2KB
• exhibit31-1.htm (EX-31.1) — 5KB
• exhibit31-2.htm (EX-31.2) — 5KB
• exhibit32-1.htm (EX-32.1) — 7KB
• 0001062993-24-019439.txt ( ) — 4856KB
• dsny-20240831.xsd (EX-101.SCH) — 54KB
• dsny-20240831_cal.xml (EX-101.CAL) — 41KB
• dsny-20240831_def.xml (EX-101.DEF) — 134KB
• dsny-20240831_lab.xml (EX-101.LAB) — 752KB
• dsny-20240831_pre.xml (EX-101.PRE) — 232KB
• form10k_htm.xml (XML) — 577KB

Risk Factors 10

ITEM 1A. Risk Factors 10

Unresolved Staff Comments 12

ITEM 1B. Unresolved Staff Comments 12

Properties 12

ITEM 2. Properties 12

Legal Proceedings 12

ITEM 3. Legal Proceedings 12

Mine Safety Disclosures 12

ITEM 4. Mine Safety Disclosures 12 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 13

ITEM 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 13

Selected Financial Data 13

ITEM 6. Selected Financial Data 13

Management's Discussion and Analysis of Financial Condition and Results of Operations 14

ITEM 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 14

Quantitative and Qualitative Disclosures About Market Risk 20

ITEM 7A. Quantitative and Qualitative Disclosures About Market Risk 20

Financial Statements and Supplementary Data 21

ITEM 8. Financial Statements and Supplementary Data 21

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 40

ITEM 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 40

Controls and Procedures 40

ITEM 9A. Controls and Procedures 40

Other Information 41

ITEM 9B. Other Information 41

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 41

ITEM 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 41 PART III

Directors, Executive Officers and Corporate Governance 42

ITEM 10. Directors, Executive Officers and Corporate Governance 42

Executive Compensation 45

ITEM 11. Executive Compensation 45

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 46

ITEM 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 46

Certain Relationships and Related Transactions, and Director Independence 47

ITEM 13. Certain Relationships and Related Transactions, and Director Independence 47

Principal Accounting Fees and Services 47

ITEM 14. Principal Accounting Fees and Services 47 PART IV

Exhibits, Financial Statement Schedules 48

ITEM 15. Exhibits, Financial Statement Schedules 48

Form 10-K Summary

ITEM 16. Form 10-K Summary PART I CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This report on Form 10-K contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 under Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "can," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "seek," "estimate," "continue," "plan," "point to," "project," "predict," "could," "intend," "target," "potential" and other similar words and expressions of the future. There are a number of important factors that could cause the actual results to differ materially from those expressed in any forward-looking statement made by us. These factors include, but are not limited to: our goals and strategies; our future business development, financial condition and results of operations; expected changes in our revenue, costs or expenditures; growth of and competition trends in our industry; our expectations regarding demand for, and market acceptance of, our products; our expectations regarding our relationships with investors, institutional funding partners and oth

BUSINESS

ITEM 1. BUSINESS. OVERVIEW AND CORPORATE BACKGROUND Destiny Media Technologies Inc. was incorporated in August 1998 under the laws of the State of Colorado and the corporate jurisdiction was changed to Nevada effective October 8, 2014. We carry out our business operations through our wholly owned subsidiaries: Destiny Software Productions Inc., a British Columbia company incorporated in 1992, MPE Distribution, Inc., a Nevada company that was incorporated in 2007, Tonality Inc., a Nevada company that was incorporated in 2021, and Sonox Digital Inc. incorporated under the Canada Business Corporations Act in 2012. Our principal executive office is located at Suite 428, 1575 West Georgia Street, Vancouver, British Columbia V6G 2V3. Our telephone number is (604) 609-7736 and our facsimile number is (604) 609-0611. Our common stock trades on TSX Venture Exchange in Canada under the symbol "DSY", on the OTCQB U.S. ("OTCQB") under the symbol "DSNY", and on various German exchanges (Frankfurt, Berlin, Stuttgart and Xetra) under the symbol DME, WKN 935 410. Our corporate website is located at http://www.dsny.com . OUR PRODUCTS AND SERVICES Destiny develops and markets software as a service (SaaS) solutions that solve critical digital distribution and promotion problems for businesses in the music industry. Play MPE Currently, the Company's core business is the Play MPE online platform. Play MPE distributes promotional content (broadcast quality audio, video, images, promotional information, metadata and other digital content) from record labels and artists to broadcasting professionals, music curators and music reviewers to discover, download, broadcast and review the content. Curators include radio programmers, digital streaming broadcasters, media reviewers, industry VIP's, DJ's, film and TV personnel, sports stadiums, retailers etc. In providing the distribution, Play MPE provides several capabilities developed and designed to address the unique needs of

View Full Filing

View this 10-K filing on SEC EDGAR