ICTS International N.V. 20-F: MNKA Investment Drains to Zero
Ticker: ICTSF · Form: 20-F · Filed: May 13, 2025 · CIK: 1010134
| Field | Detail |
|---|---|
| Company | Icts International N V (ICTSF) |
| Form Type | 20-F |
| Filed Date | May 13, 2025 |
| Risk Level | medium |
| Sentiment | bearish |
Sentiment: bearish
Topics: investment-loss, government-support, financial-reporting
TL;DR
ICTS Intl's 20-F shows MNKA investment is worthless now, but they got Dutch tax breaks.
AI Summary
ICTS International N.V. filed its 20-F report for the fiscal year ending December 31, 2024. The company operates in business services and is incorporated in P7. The filing details labor costs, including share-based compensation and employee benefits, and notes government support programs in Germany and the Netherlands. Specifically, the Dutch government allowed deferred VAT and wage tax payments starting October 2022. The company's investment in MNKA was valued at $0 as of December 31, 2024, down from $9 in 2023.
Why It Matters
This filing provides insight into ICTS International's financial health and operational details, including its exposure to fluctuating market values of its investments like MNKA.
Risk Assessment
Risk Level: medium — The significant drop in the value of its MNKA investment to zero and the mention of low trading volume for MNKA shares suggest potential financial instability or poor investment performance.
Key Numbers
- $0 — MNKA Investment Value (Dec 31, 2024) (Represents the current market value of the company's stake in MNKA.)
- $9 — MNKA Investment Value (Dec 31, 2023) (Shows the previous year's market value of the MNKA investment.)
Key Players & Entities
- ICTS INTERNATIONAL N V (company) — Filer of the 20-F report
- MNKA (company) — Company in which ICTS International has an investment
- $0 (dollar_amount) — Market value of MNKA investment as of December 31, 2024
- $9 (dollar_amount) — Market value of MNKA investment as of December 31, 2023
- 20241231 (date) — Fiscal year end for the report
- 20250513 (date) — Filing date of the report
FAQ
What specific government support programs are mentioned for German employees?
German employees are eligible for payroll support, where the company pays their full salary and is reimbursed by the German government for the payroll support amount.
How are deferred VAT and wage tax payments structured for the Dutch government support?
The Dutch government allowed postponement of VAT payable for 2020 and 2021, and wage tax and social security payable for March-December 2021, to be paid in 60 installments starting October 2022.
What is the reason cited for the low valuation of the MNKA investment?
The company evaluated the stock price of MNKA, and it is noted that MNKA's share price is low, resulting in a low number of shares being traded.
What was the total number of public documents filed with this 20-F?
There were 100 public documents filed with this 20-F.
What is the SIC code for ICTS International N.V.?
The Standard Industrial Classification (SIC) code for ICTS International N.V. is 7389, which falls under SERVICES-BUSINESS SERVICES, NEC.
Filing Details
This Form 20-F (Form 20-F) was filed with the SEC on May 13, 2025 regarding ICTS INTERNATIONAL N V (ICTSF).