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

TL;DR

<b>KwikClick, Inc. has submitted its 2023 annual report on Form 10-K, detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

KwikClick, Inc. (KWIK) filed a Annual Report (10-K) with the SEC on April 15, 2024. KwikClick, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business address is located in Bountiful, UT. KwikClick, Inc. is incorporated in Delaware. The filing was submitted on April 15, 2024.

Why It Matters

For investors and stakeholders tracking KwikClick, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of KwikClick's financial health, operational strategies, and risk factors for the past fiscal year, which is crucial for investors to assess the company's performance and future prospects. The detailed financial information within the report allows stakeholders to understand revenue streams, expenses, and overall profitability, aiding in investment decisions and market analysis.

Risk Assessment

Risk Level: — KwikClick, Inc. shows moderate risk based on this filing. The risk level is low as this is a standard annual filing (10-K) and does not contain new, significant, or adverse information beyond routine disclosures.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-K to understand KwikClick's performance and strategic direction for 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period of report)
• 2024-04-15 — Filing Date (Date of submission)

Key Players & Entities

• KwikClick, Inc. (company) — Filer name
• 2024-04-15 (date) — Filing date
• 2023-12-31 (date) — Period of report
• Bountiful, UT (location) — Business address
• DE (location) — State of incorporation
• 7374 (other) — Standard Industrial Classification

FAQ

Industry Context

KwikClick, Inc. operates within the Services-Computer Processing & Data Preparation industry (SIC code 7374).

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, which governs the reporting requirements for public companies.

What Investors Should Do

1. Analyze the financial statements (income statement, balance sheet, cash flow) for the fiscal year 2023.
2. Review the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section for insights into performance drivers and trends.
3. Examine any disclosed risk factors to understand potential challenges facing KwikClick, Inc.

Key Dates

• 2024-04-15: 10-K Filing — Submission 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

• $0.0001 — ) of the Act: Common Stock, par value $0.0001 per share ________________________ (
• $5.00 — a market or exercise price of less than $5.00 per share, subject to specific exemptio

Filing Documents

• kwik_i10k-123123.htm (10-K) — 746KB
• kwik_ex3101.htm (EX-31.1) — 8KB
• kwik_ex3102.htm (EX-31.2) — 7KB
• kwik_ex3201.htm (EX-32.1) — 5KB
• kwik_ex3202.htm (EX-32.2) — 5KB
• image_001.jpg (GRAPHIC) — 3KB
• image_002.jpg (GRAPHIC) — 3KB
• 0001683168-24-002394.txt (&nbsp;) — 3858KB
• kwik-20231231.xsd (EX-101.SCH) — 33KB
• kwik-20231231_cal.xml (EX-101.CAL) — 43KB
• kwik-20231231_def.xml (EX-101.DEF) — 118KB
• kwik-20231231_lab.xml (EX-101.LAB) — 301KB
• kwik-20231231_pre.xml (EX-101.PRE) — 241KB
• kwik_i10k-123123_htm.xml (XML) — 353KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 3 Item 1B. Unresolved Staff Comments 21 Item 1C. Cybersecurity 21 Item 2.

Properties

Properties 22 Item 3.

Legal Proceedings

Legal Proceedings 22 Item 4. Mine Safety Disclosures 22 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 23 Item 7.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 7A.

Quantitative And Qualitative Disclosures About Market Risk

Quantitative And Qualitative Disclosures About Market Risk 27 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 27 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 27 Item 9A.

Controls and Procedures

Controls and Procedures 27 Item 9B. Other Information 28 PART III Item 10. Directors, Executive Officers and Corporate Governance 29 Item 11.

Executive Compensation

Executive Compensation 30 Item 12.

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

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 33 Item 13. Certain Relationships and Related Transactions, and Director Independence 33 Item 14. Principal Accounting Fees and Services 34 PART IV Item 15. Exhibits, Financial Statement Schedules 35 Item 16. Form 10-K Summary 35 i PART I Cautionary Note Regarding Forward-Looking Statements This Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the "Form 10-K") contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, relating to our business and financial outlook, which are based on our current beliefs, assumptions, expectations, estimates, forecasts and projections about future events only as of the date of this Form 10-K, and are not statements of historical fact. We make such forward-looking statements pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are often identified by the use of words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "project," "will," "would" or the negative or plural of these words or similar expressions or variations. Such forward-looking actual results and the timing of certain events to differ materially from future results expressed or implied by the forward-looking statements or forward-looking information. Factors that could cause or contribute to such differences include, but are not limited to, those identified in this Form 10-K, and in our other SEC public filings. Therefore, these forward-looking statements are not guarantees or promises of our future performance and involve risks, uncertainties, estimates and assumptions that are difficult to predict. As a result, our actual outcom

BUSINESS

ITEM 1. BUSINESS. KwikClick, Inc., (the Company) was organized pursuant to the laws of the State of Delaware on November 16, 1993. Beginning in 2020, the Company commenced its KwikClick business operations to allow sellers to make products or services available on the KwikClick platform, at Kwik.com, offering a self-determined discount on goods or services in exchange for exposure and substantially increased sales volume. Competition We directly or indirectly compete with online resellers across the Internet. Many of the resellers and companies have far greater financial, human, and technological resources that make competition with them a serious challenge for our company. We compete with "affiliate marketing", which is a structure where influencers earn a percentage of sales by promoting products from others. Affiliate marketers can select a product that they have an affinity with, promote it to others, and earn a profit for each sale that they make. Like the KwikClick system, affiliate marketing allows for passive income, meaning the seller or influencer makes money even at times when the seller or influencer is not actively doing anything. We also compete with companies that sell software and services to small businesses, enabling sellers to sell from their own website or otherwise run their business independently of our platform. We also compete with retailers for the attention of the buyer. A buyer has the choice of shopping with any online or offline retailer, whether large marketplaces or national retail chains or local consignment and vintage stores or other venues or marketplaces. The KwikClick platform will compete directly with shopping platforms such as Etsy, Wish, Amazon, Shopify and other e-commerce platforms where independent sellers may create their own shop or re-selling environment. To the degree KwikClick will offer a similar platform, direct competition exists. KwikClick may also be complimentary to each of these platforms as KwikClick may

RISK FACTORS

ITEM 1A. RISK FACTORS. Our business is subject to numerous risks and uncertainties. These risks and uncertainties may cause our operations to vary materially from those contemplated by our forward-looking RISK FACTORS RELATING TO OUR COMPANY AND OUR STOCK We are a developing company any only recently started generating revenue. We are not an established company. We currently generate only small amounts of revenue from platform operations. Prior to that, our activities were substantially limited to development activities. Even though we have designed our platform, done much of the development and intellectual property protection work, we currently do not have a meaningful share of our market. Our balance sheet is weak, and we lack liquidity Our balance sheet is weak. There is no guarantee that we can obtain the funding needed for our operations and for acquisitions on acceptable terms, if at all, and neither our directors, officers, nor any third-party is obligated to provide any financing. A failure to pay our expenses when they become due and payable could materially adversely affect our Company and the trading price of our common stock. We may not be profitable in the future We have not been profitable during any of our years of operation. We face many risks that could prevent us from achieving profits in future years as well. There is no assurance that we will be profitable in the future. There is no assurance that any business that we develop, or acquisition we make, will be profitable. A failure to achieve profitability could materially adversely affect our Company and the trading price of our common stock. Our common stock lacks a meaningful public market At present, only a limited market exists for our common stock and there is no assurance that a regular trading market will develop and if developed, that it will be sustained. An owner of our common stock may, therefore, be unable to sell our common stoc

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