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

TL;DR

<b>GlucoTrack, Inc. (GCTK) has filed its 2023 10-K annual report, detailing its operations and financial standing for the fiscal year ending December 31, 2023.</b>

AI Summary

GlucoTrack, Inc. (GCTK) filed a Annual Report (10-K) with the SEC on March 28, 2024. GlucoTrack, Inc. (GCTK) filed its 2023 10-K report on March 28, 2024. The company was formerly known as Integrity Applications, Inc. and changed its name on December 3, 2010. The filing covers the fiscal year ending December 31, 2023. GlucoTrack is in the Surgical & Medical Instruments & Apparatus industry (SIC 3841). The company's business address is in Rutherford, NJ.

Why It Matters

For investors and stakeholders tracking GlucoTrack, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of GlucoTrack's financial performance, business operations, and risk factors for the fiscal year 2023, which is crucial for investors to assess the company's current health and future prospects. Understanding the details within this report, such as financial statements, executive compensation, and risk disclosures, is essential for investors making informed decisions about GCTK stock.

Risk Assessment

Risk Level: low — GlucoTrack, Inc. shows low risk based on this filing. The filing is a standard 10-K annual report, which typically contains routine disclosures and does not indicate any immediate or significant new risks beyond those inherent in the company's operations.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand GlucoTrack's performance and potential challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-03-28 — Filing Date (Filed as of date)

Key Players & Entities

• GlucoTrack, Inc. (company) — Filer name
• GCTK (company) — Ticker symbol
• Integrity Applications, Inc. (company) — Former company name
• Rutherford, NJ (location) — Business address city and state
• 3841 (industry_code) — Standard Industrial Classification code

FAQ

Industry Context

GlucoTrack, Inc. operates within the Surgical & Medical Instruments & Apparatus industry, indicated by SIC code 3841.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose material information about their business, financial condition, and management.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Review the business description and risk factors for operational insights.
3. Examine any disclosures related to executive compensation and corporate governance.

Key Dates

• 2024-03-28: 10-K Filing — Filing of the annual report for the fiscal year ended December 31, 2023.
• 2023-12-31: Fiscal Year End — End date of the reporting period covered by the 10-K.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year 2023, following previous filings which would have covered prior periods.

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 GCTK Nasdaq Capital Market Secur
• $0.35 — 5,362,999 based on the closing price of $0.35 per share of the registrant's common st
• $100,000,000 — statement permits us to register up to $100,000,000 of certain equity and debt securities o
• $10 million — eceived gross proceeds of approximately $10 million for issuance of (i) 5,376,472 shares of
• $1.36 — ed warrants at a price to the public of $1.36 per share. After completing this transa
• $10 m — roceeds to the Company of approximately $10 million, before deducting underwriting di
• $1,500 — well One Thousand Five Hundred Dollars ($1,500) per month. The Cardwell Consulting Agr
• $1.00 — d price of our Common Stock is at least $1.00 per share for a minimum of 10 consecuti
• $0.31 — The stock price on March 12, 2024, was $0.31. The Company agreed to do a reverse sto

Filing Documents

• form10-k.htm (10-K) — 1258KB
• ex19.htm (EX-19) — 121KB
• ex23-1.htm (EX-23.1) — 9KB
• ex23-1_001.jpg (GRAPHIC) — 31KB
• ex31-1.htm (EX-31.1) — 12KB
• ex31-2.htm (EX-31.2) — 12KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• ex97-1.htm (EX-97.1) — 24KB
• 0001493152-24-011765.txt (&nbsp;) — 5128KB
• gctk-20231231.xsd (EX-101.SCH) — 32KB
• gctk-20231231_cal.xml (EX-101.CAL) — 42KB
• gctk-20231231_def.xml (EX-101.DEF) — 118KB
• gctk-20231231_lab.xml (EX-101.LAB) — 270KB
• gctk-20231231_pre.xml (EX-101.PRE) — 210KB
• form10-k_htm.xml (XML) — 703KB

Business

Item 1. Business. 4

Risk Factors

Item 1A. Risk Factors. 16

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments. 31

Cybersecurity

Item 1C. Cybersecurity. 31

Properties

Item 2. Properties . 32

Legal Proceedings

Item 3. Legal Proceedings . 32

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 32 Part II 33

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

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities . 33 Item 6. [Reserved.] 34

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

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations . 34

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk . 37

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data . 37

Change in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Change in and Disagreements With Accountants on Accounting and Financial Disclosure . 37

Controls and Procedures

Item 9A. Controls and Procedures . 37

Other Information

Item 9B. Other Information . 38

Disclosure Regarding Foreign Jurisdictions That Prevent Inspection

Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspection. 38 PART III 39

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance . 39

Executive Compensation

Item 11. Executive Compensation . 43

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

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters . 45

Certain Relationships and Related Transactions, and Director Independence

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

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services . 48 PART IV 49

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules . 49

SIGNATURES

SIGNATURES 51 2 GENERAL Unless the context otherwise requires, the terms "we", "our", "ours" "us", "GlucoTrack" and "Integrity", refer to A.D. Integrity Applications, Ltd., an Israeli corporation ("Integrity Israel") and GlucoTrack, Inc., a Delaware corporation. CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS This Annual Report on Form 10-K (this "Report") includes forward-looking statements. These forward-looking statements include of operations, strategies or prospects. All statements other than statements of historical fact included in this Report, including statements regarding our future activities, events or developments, including such things as future revenues, product development, clinical trials, regulatory approval, market acceptance, responses from competitors, capital expenditures (including the amount and nature thereof), business strategy and measures to implement strategy, competitive strengths, goals, expansion and growth of our business and operations, plans, references to future success, projected performance and trends, and other such matters, are forward-looking statements. The words "believe," "expect," "intend," "anticipate," "estimate," "plan," "may," "will," "could," "would," "should" and other similar words and phrases or the negative of such terms, are intended to identify forward-looking statements. The forward-looking statements made in this Report are based on certain historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. These statements relate only to events as of the date on which the statements are made and we undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. All of the fo

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