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

TL;DR

<b>Paltalk, Inc. has filed its 2023 Form 10-K, confirming its status as a smaller reporting company and its compliance with SEC filing requirements.</b>

AI Summary

PALTALK, INC. (IPM) filed a Annual Report (10-K) with the SEC on March 15, 2024. Paltalk, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company is incorporated in Delaware and its principal executive offices are located in Jericho, NY. Paltalk's common stock trades on The Nasdaq Capital Market under the ticker symbol PALT. The company has indicated it is a non-accelerated filer and a smaller reporting company. Paltalk has submitted all required reports for the preceding 12 months and has been subject to filing requirements for the past 90 days.

Why It Matters

For investors and stakeholders tracking PALTALK, INC., this filing contains several important signals. This filing provides a comprehensive overview of Paltalk's financial performance and operational status for the fiscal year 2023, which is crucial for investors to assess the company's health and future prospects. As a smaller reporting company, Paltalk's disclosures may differ from larger filers, impacting the depth of information available to the market for valuation and investment decisions.

Risk Assessment

Risk Level: low — PALTALK, INC. shows low risk based on this filing. The filing indicates Paltalk is a smaller reporting company and a non-accelerated filer, suggesting a lower level of regulatory scrutiny compared to larger, accelerated filers.

Analyst Insight

Investors should review the full 10-K filing for detailed financial statements, risk factors, and management's discussion and analysis to understand Paltalk's business performance and outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Fiscal year ended December 31, 2023)
• 2024-03-15 — Filing Date (Filed as of date March 15, 2024)
• 001-38717 — SEC File Number (Commission File Number)
• 20-3191847 — IRS Number (IRS Employer Identification No.)

Key Players & Entities

• PALTALK, INC. (company) — Registrant
• 20231231 (date) — Fiscal year ended
• 20240315 (date) — Filed as of date
• Delaware (jurisdiction) — State of incorporation
• Jericho, NY (location) — Business address
• PALT (ticker) — Trading Symbol
• The Nasdaq Capital Market (exchange) — Name of each exchange on which registered

FAQ

Industry Context

Paltalk, Inc. operates in the internet services sector, providing communication and social networking platforms.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the annual filing of a Form 10-K.

What Investors Should Do

1. Review the detailed financial statements and Management's Discussion and Analysis in the 10-K for a thorough understanding of Paltalk's performance.
2. Analyze the risk factors section to identify potential challenges and uncertainties facing the company.
3. Compare Paltalk's reported metrics with industry peers to gauge its competitive position.

Year-Over-Year Comparison

This filing represents the company's annual report for the fiscal year 2023, following its previous filings with the SEC.

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value PALT The Nasdaq Capital Marke

Filing Documents

• f10k2023_paltalkinc.htm (10-K) — 1016KB
• f10k2023ex4-2_paltalkinc.htm (EX-4.2) — 44KB
• f10k2023ex19-1_paltalkinc.htm (EX-19.1) — 49KB
• f10k2023ex21-1_paltalkinc.htm (EX-21.1) — 3KB
• f10k2023ex23-1_paltalkinc.htm (EX-23.1) — 3KB
• f10k2023ex31-1_paltalkinc.htm (EX-31.1) — 8KB
• f10k2023ex31-2_paltalkinc.htm (EX-31.2) — 8KB
• f10k2023ex32-1_paltalkinc.htm (EX-32.1) — 5KB
• f10k2023ex97-1_paltalkinc.htm (EX-97.1) — 44KB
• 0001213900-24-023064.txt (&nbsp;) — 4498KB
• palt-20231231.xsd (EX-101.SCH) — 37KB
• palt-20231231_cal.xml (EX-101.CAL) — 41KB
• palt-20231231_def.xml (EX-101.DEF) — 195KB
• palt-20231231_lab.xml (EX-101.LAB) — 343KB
• palt-20231231_pre.xml (EX-101.PRE) — 193KB
• f10k2023_paltalkinc_htm.xml (XML) — 345KB

Business

Business 1 ITEM 1A. Risk Factors 5 ITEM 1B. Unresolved Staff Comments 25 ITEM 1C. Cybersecurity 25 ITEM 2.

Properties

Properties 26 ITEM 3. Legal Proceedings 26 ITEM 4. Mine Safety Disclosures 26 PART II 27 ITEM 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 27 ITEM 6. Reserved 27 ITEM 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 27 ITEM 7A. Quantitative and Qualitative Disclosures About Market Risk 35 ITEM 8. Financial F-1 ITEM 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 36 ITEM 9A. Controls and Procedures 36 ITEM 9B. Other Information 37 ITEM 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 37 PART III 38 ITEM 10. Directors, Executive Officers and Corporate Governance 38 ITEM 11. Executive Compensation 44 ITEM 12. Security 51 ITEM 13. Certain Relationships and Related Transactions, and Director Independence 55 ITEM 14. Principal Accounting Fees and Services 55 PART IV 57 ITEM 15. Exhibits and Financial Statement Schedules 57 ITEM 16. Form 10-K Summary 59

Signatures

Signatures 60 Unless the context otherwise indicates, references to "Paltalk," "we," "our," "us" and the "Company" refer to Paltalk, Inc. and its subsidiaries on a consolidated basis. Paltalk, our logo and other trademarks or service marks appearing in this report are the property of Paltalk, Inc. Trade names, trademarks and service marks of other companies appearing in this report are the property of their respective owners. Solely for convenience, the trademarks, service marks and trade names included in this report are without the , or other applicable symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or the rights of the applicable licensors to these trademarks, service marks and trade names. Unless otherwise indicated, operational metrics such as those related to active users are based on internally-derived metrics for users across all platforms through which our applications are accessed. i

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS Certain statements contained in this Annual Report on Form 10-K constitute "forward-looking statements" as defined in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), that are based on current expectations, estimates, forecasts and assumptions and are subject to risks and uncertainties. Words such as "anticipate," "assume," "began," "believe," "budget," "continue," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "plan," "potential," "predict," "project," "seek," "should," "target," "would" and variations of such words and similar expressions are intended to identify such forward-looking to certain risks, uncertainties and assumptions relating to factors that could cause actual results to differ materially from those anticipated in such statements, including, without limitation, the following: our ability to effectively market and generate revenue from our applications; our ability to generate and maintain active users and to effectively monetize our user base; our ability to update our applications to respond to rapid technological changes; the intense competition in the industry in which our business operates and our ability to effectively compete with existing competitors and new market entrants; our ability to consummate favorable acquisitions and effectively integrate any companies or properties that we acquire; the impact of any economic recession and the overall inflationary environment on our results of operations and our business; the dependence of our applications on mobile platforms and operating systems that we do not control, including our heavy reliance on the platforms of Apple, Facebook and Google and their ability to discontinue, limit or

BUSINESS

ITEM 1. BUSINESS Company Overview We are a communications software innovator that powers multimedia social applications. Our product portfolio includes Paltalk, Camfrog and Tinychat, which together host a large collection of video-based communities. Our other products include ManyCam and Vumber. ManyCam is a live streaming software and virtual camera that allows users to deliver professional live videos on streaming platforms, video conferencing apps and distance learning tools. Vumber is a telecommunications services provider that enables users to communicate privately by having multiple phone numbers with any area code through which calls can be forwarded to a user's existing telephone number. We have an over 20-year history of technology innovation and hold 8 patents. We were incorporated under the laws of the State of Delaware in 2005. Our principal executive office is located at 30 Jericho Executive Plaza Suite 400E, Jericho, NY 11753. Our Consumer Application Products We operate a network of consumer applications that we believe create a unique social media enterprise where users can meet, see, chat, broadcast, play online card games and board games and message in real time in a secure environment with others in our network. The proprietary technology underlying our products allows us to operate thousands of simultaneous streams, including on mobile platforms, which support interactions on a one-on-one, one-to-many and many-to-many basis. Our consumer applications generate revenue principally from subscription fees, including virtual goods, and advertising arrangements. We believe that the scale of our user base presents a competitive advantage in the video social networking industry and provides growth opportunities to advance our existing products with up-sell opportunities and build future brands with cross-sell offers. We also believe that our proprietary consumer app technology platform can scalably support large communities of users in activitie

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View this 10-K filing on SEC EDGAR