Integrated Media Technology Ltd Files 2023 Annual Report
Ticker: IMTE · Form: 20-F · Filed: Oct 22, 2024 · CIK: 1668438
Sentiment: neutral
Topics: annual-report, 20-F, foreign-issuer
TL;DR
IMT filed its 2023 20-F. Check financials for the audio/video equipment maker.
AI Summary
Integrated Media Technology Ltd filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The company, formerly known as China Integrated Media Corp Ltd, is incorporated in C3 and headquartered in Adelaide, Australia. The filing covers its operations in the household audio & video equipment sector.
Why It Matters
This filing provides investors with a comprehensive overview of Integrated Media Technology Ltd's financial performance and business operations for the 2023 fiscal year, crucial for assessing the company's health and future prospects.
Risk Assessment
Risk Level: medium — As a foreign private issuer filing a 20-F, the company operates under different regulatory and reporting standards than domestic US companies, which can introduce additional complexities and risks for investors.
Key Numbers
- 2023 — Fiscal Year End (The period covered by the annual report.)
- 001-38018 — SEC File Number (Identifies the company's filings with the SEC.)
Key Players & Entities
- Integrated Media Technology Ltd (company) — Filer of the 20-F report
- China Integrated Media Corp Ltd (company) — Former name of Integrated Media Technology Ltd
- December 31, 2023 (date) — Fiscal year end for the report
- 20241022 (date) — Filing date of the report
- Adelaide, Australia (location) — Business and mailing address of the company
FAQ
What is the primary business of Integrated Media Technology Ltd?
Integrated Media Technology Ltd operates in the HOUSEHOLD AUDIO & VIDEO EQUIPMENT sector, as indicated by its Standard Industrial Classification code 3651.
When did the company change its name?
The company changed its name from China Integrated Media Corp Ltd to Integrated Media Technology Ltd on March 2, 2016.
Where is Integrated Media Technology Ltd based?
The company's business and mailing address is Level 7, 420 King William Street, Adelaide, SA 5000, Australia.
What type of SEC filing is this?
This is an annual report on Form 20-F, filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2023.
What is the company's Central Index Key (CIK)?
The Central Index Key for Integrated Media Technology Ltd is 0001668438.
Filing Stats: 4,613 words · 18 min read · ~15 pages · Grade level 15.4 · Accepted 2024-10-22 13:11:31
Key Financial Figures
- $53,821,478 — 2023, we had an accumulated deficit of $53,821,478. For the year ended December 31, 2023 w
- $18,350,112 — d December 31, 2023 we recorded loss of $18,350,112 which was mainly resulted from the Comp
- $675,781 — 23, we had cash and cash equivalents of $675,781. We estimate that our existing cash res
Filing Documents
- ea0209004-20f_integrated.htm (20-F) — 2753KB
- ea020900401ex2-1_integrated.htm (EX-2.1) — 16KB
- ea020900401ex4-14_integrated.htm (EX-4.14) — 129KB
- ea020900401ex8-1_integrated.htm (EX-8.1) — 5KB
- ea020900401ex12-1_integrated.htm (EX-12.1) — 11KB
- ea020900401ex12-2_integrated.htm (EX-12.2) — 11KB
- ea020900401ex13-1_integrated.htm (EX-13.1) — 4KB
- ea020900401ex13-2_integrated.htm (EX-13.2) — 4KB
- ea020900401ex15_integrated.htm (EX-15) — 3KB
- ea020900401ex97-1_integrated.htm (EX-97.1) — 33KB
- image_001.jpg (GRAPHIC) — 7KB
- ex15_001.jpg (GRAPHIC) — 21KB
- 0001213900-24-089557.txt ( ) — 15063KB
- imte-20231231.xsd (EX-101.SCH) — 221KB
- imte-20231231_cal.xml (EX-101.CAL) — 59KB
- imte-20231231_def.xml (EX-101.DEF) — 629KB
- imte-20231231_lab.xml (EX-101.LAB) — 1231KB
- imte-20231231_pre.xml (EX-101.PRE) — 664KB
- ea0209004-20f_integrated_htm.xml (XML) — 2760KB
Item 18
Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No TABLE OF CONTENTS INTRODUCTION ii PART I 1 Item 1. Identity of Directors, Senior Management and Advisers 1 Item 2. Offer Statistics and Expected Timetable 1 Item 3. Key Information 1 Item 4. Information on the Company 28 Item 4A. Unresolved Staff Comments 45 Item 5. Operating and Financial Review and Prospects 45 Item 6. Directors, Senior Management and Employees 54 Item 7. Major Shareholders and Related Party Transactions 63 Item 8. Financial Information 65 Item 9. The Offer and Listing 65 Item 10. Additional Information 65 Item 11.
Quantitative and Qualitative Disclosures About Market Risks
Quantitative and Qualitative Disclosures About Market Risks 79 Item 12.
Description of Securities Other than Equity Securities
Description of Securities Other than Equity Securities 79 PART II 80 Item 13. Defaults, Dividend Arrearages and Delinquencies 80 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 80 Item 15.
Controls and Procedures
Controls and Procedures 80 Item 15T
Controls and Procedures
Controls and Procedures 81 Item 16 Reserved 81 Item 16A. Audit Committee Financial Expert 81 Item 16B. Code of Ethics 82 Item 16C. Principal Accountant Fees and Services 82 Item 16D. Exemptions from the Listing Standards for Audit Committees 83 Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 83 Item 16F. Change in Registrant's Certifying Accountant 83 Item 16G. Corporate Governance 83 Item 16H. Mine Safety Disclosure 83 Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 83 PART III 84 Item 17.
Financial Statements
Financial Statements 84 Item 18.
Financial Statements
Financial Statements 84 Item 19. Exhibits 85
SIGNATURES
SIGNATURES 86 i INTRODUCTION Integrated Media Technology Limited was incorporated under the laws of the Commonwealth of Australia on August 8, 2008. As used in this annual report, the terms "we," "us," "our", "IMTE", and the "Company" mean Integrated Media Technology Limited and its subsidiaries, unless otherwise indicated. In this annual report on Form 20-F references to: "Australia" is to the Commonwealth of Australia; "Board" or "Board of Directors" means board of directors of the Company; "Canada" is to the country in North America of Canada; "China" or the "PRC" are to the People's Republic of China, excluding Taiwan and the special administrative regions of Hong Kong and Macau for the purposes of this annual report only; "Hong Kong" is to the Hong Kong Special Administrative Region; "Korea" or "South Korea" are to Republic of Korea; "Malaysia" is to the country in Southeast Asia of Malaysia; "USA" is to the United States of America; "the Group" or "Group" refers to Integrated Media Technology Limited and its subsidiaries; "NASDAQ" are to the NASDAQ Stock Market; "SEC" means the United States Securities and Exchange Commission; "shares", "Shares" or "Ordinary Shares" are to the ordinary shares of the Company, no par value; "Australian dollars" or "A$" or "AUD" are to the currency of Commonwealth of Australia; "EUR" are to the legal currency of Europe; "GBP" are to the legal currency of United Kingdom; "Hong Kong dollar" are to the official currency of Hong Kong; "MYR" are to the legal currency of Malaysia; "RMB" and "Renminbi" are to the legal currency of China; "U.S. dollars" or "US$" or "$" are to the currency of the United States of America; "Won" are to the legal currency of South Korea. Our consolidated financial statements appearing in this annual report on Form 20-F are prepared in United States dollars and in accordance with the International Financial Reporting Standards, or IFRS, as issued by the Intern
IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS
ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.
OFFER STATISTICS AND EXPECTED TIMETABLE
ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.
KEY INFORMATION
ITEM 3. KEY INFORMATION A. [Reserved] B. Capitalization and Indebtedness Not applicable. C. Reasons for the Offer and Use of Proceeds Not applicable. D. Risk Factors The following risks relate specifically to our business and should be considered carefully. Our business, financial condition and results of operations could be harmed by any of the following risks. The risks and uncertainties described below are not the only ones that we face. Additional risks and uncertainties not presently known to us or that we currently believe to be immaterial may also adversely affect our business. If any of the following risks and uncertainties develops into actual events, our business, financial condition, and results of operations could be materially and adversely affected, and the trading price of our Ordinary Shares could decline. As a result of the above factors, the trading price of our Ordinary Shares could decline, and the holders could lose part or all of their investment. 1 General Risks The recurrence of the coronavirus disease ("COVID-19"), or similar adverse public health developments in the countries we operate in now and in the future, may materially and adversely affect our business and operating results. From 2020 to 2022, COVID-19 adversely impacted countries, communities, supply chains and markets globally. In 2023, COVID-19 has generally subsided, and markets and industries have generally returned to pre-pandemic days. There is the risk of the recurrence of new variants of COVID-19 which may result in the return in travel restrictions, border control, and shutdown of businesses. We may experience impact from quarantines and market downturns related to pandemic fears and impact on our workforce if the virus spreads again. COVID-19 and other pandemic viruses affect our workforce and supplier's workforce, and as a result we could experience interruption to our business and operations and may experience delays or the inability to deliver goods o