Video River Networks, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Video River Networks, Inc. has filed its 2023 annual report (10-K) detailing its financial performance and business operations.</b>

AI Summary

Video River Networks, Inc. (NIHK) filed a Annual Report (10-K) with the SEC on April 17, 2024. Video River Networks, Inc. filed its 2023 Form 10-K on April 17, 2024. The company's fiscal year ends on December 31st. The filing covers the period from January 1, 2023, to December 31, 2023. The company was formerly known as NIGHTHAWK SYSTEMS INC, PEREGRINE INC, and LSI COMMUNICATIONS INC. Video River Networks, Inc. is incorporated in Nevada.

Why It Matters

For investors and stakeholders tracking Video River Networks, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Video River Networks, Inc.'s financial health and operational activities for the fiscal year 2023, crucial for investors to assess the company's performance and future prospects. Understanding the company's historical name changes and incorporation details offers context into its corporate evolution and legal structure.

Risk Assessment

Risk Level: low — Video River Networks, Inc. shows low risk based on this filing. The filing is a standard 10-K, and no immediate red flags or significant negative financial indicators are apparent from the header information alone.

Analyst Insight

Investors should review the full 10-K filing to understand Video River Networks, Inc.'s financial statements, risk factors, and management's discussion and analysis for the fiscal year 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-04-17 — Filing Date (Filed as of date)
• 000-30786 — SEC File Number (SEC file number for the company)
• 0001084475 — Central Index Key (Company's unique identifier)

Key Players & Entities

• Video River Networks, Inc. (company) — Filer name
• NIHK (company) — Ticker symbol
• NIGHTHAWK SYSTEMS INC (company) — Former company name
• PEREGRINE INC (company) — Former company name
• LSI COMMUNICATIONS INC (company) — Former company name
• 2023-12-31 (date) — Conformed period of report
• 2024-04-17 (date) — Filed as of date
• NV (location) — State of incorporation

FAQ

Industry Context

The company operates in the Real Estate sector, as indicated by its SIC code [6500].

Regulatory Implications

The filing is a standard 10-K under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the full 10-K for detailed financial statements and operational disclosures.
2. Analyze the risk factors section for potential business challenges.
3. Examine management's discussion and analysis (MD&A) for insights into performance drivers.

Key Dates

• 2024-04-17: 10-K Filing — Annual report filing date
• 2023-12-31: Fiscal Year End — End date of the reporting period

Year-Over-Year Comparison

This is the company's 2023 annual report filing. Previous filings would provide comparative data.

Key Financial Figures

• $0.001 — Section 12(g) of the Act: COMMON STOCK, $0.001 PAR VALUE Indicate by check mark if t
• $838,371 — tes of the Registrant was approximately $838,371 using the average bid and ask price on
• $0.0130 — verage bid and ask price on that day of $0.0130 and a public float of 144,546,809 share
• $0.0125 — verage bid and ask price on that day of $0.0125 and a public float of 144,546,809 share
• $3 — preferred stock at a purchase price of $3 in cash and a transfer of 100% interest
• $10 million — 2020 the Company filed as S-1 to raise $10 million by offering one (1) million shares of i

Filing Documents

• form10-k.htm (10-K) — 1375KB
• ex31-1.htm (EX-31.1) — 12KB
• ex31-2.htm (EX-31.2) — 12KB
• ex32-1.htm (EX-32.1) — 7KB
• form10-k_001.jpg (GRAPHIC) — 49KB
• form10-k_002.jpg (GRAPHIC) — 19KB
• 0001493152-24-015039.txt (&nbsp;) — 4819KB
• nihk-20231231.xsd (EX-101.SCH) — 29KB
• nihk-20231231_cal.xml (EX-101.CAL) — 45KB
• nihk-20231231_def.xml (EX-101.DEF) — 128KB
• nihk-20231231_lab.xml (EX-101.LAB) — 231KB
• nihk-20231231_pre.xml (EX-101.PRE) — 203KB
• form10-k_htm.xml (XML) — 471KB

Business

Business 4 Item 1A

Risk Factors

Risk Factors 21 Item 2

Properties

Properties 44 Item 3

Legal Proceedings

Legal Proceedings 44 Item 4 Mine Safety Disclosures . 44 PART II Item 5 Market for Registrant's Common Equity and Related Stockholder Matters 45 Item 6

Selected Financial Data

Selected Financial Data 47 Item 7

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

Management's Discussion and Analysis of Financial Condition and Results of Operation 47 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 62 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 65 Item 9A

Controls and Procedures

Controls and Procedures 65 Item 9B Other Information 66 PART III Item 10 Directors and Executive Officers and Corporate Governance 67 Item 11

Executive Compensation

Executive Compensation 70 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 72 Item 13 Certain Relationships and Related Transactions, and Director Independence 73 Item 14 Principal Accountant Fees and Services 76 PART IV Item 15 Exhibits and Financial Statement Schedules 76

Signatures

Signatures 77 Exhibit 76 2 Cautionary The discussion contained in this Annual Report on Form 10-K ("Annual Report") contains "forward-looking statements" within the meaning of Section 27A of the United States Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the United States Securities Exchange Act of 1934, as amended, or the Exchange Act. Any statements about our expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases like "anticipate," "estimate," "plans," "projects," "continuing," "ongoing," "target," "expects," "management believes," "we believe," "we intend," "we may," "we will," "we should," "we seek," "we plan," the negative of those terms, and similar words or phrases. We base these forward-looking the date of this Annual Report. These forward-looking statements are subject to a number of risks and uncertainties that cannot be predicted, quantified or controlled and that could cause actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. Statements in this Annual Report describe factors, among others, that could contribute to or cause these differences. Actual results may vary materially from those anticipated, estimated, projected or expected should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect. Because the factors discussed in this Annual Report could cause actual results or outcomes to differ materially from those expressed in any forward-looking statement made by us or on our behalf, you should not place undue reliance on any such forward-looking s

forward-looking statements

forward-looking statements. 3 PART I ITEM 1 BUSINESS When we use the terms "NIHK," "we," "us," "our," and "the company," we mean Video River Networks, Inc., a Nevada corporation.

Business

Business Overview Video River Networks, Inc. is a technology holding firm that operates and manages a portfolio of Electric Vehicles, Artificial Intelligence, Machine Learning and Robotics ("EV-AI-ML-R") assets, businesses and operations in North America. The Company's current and target portfolio businesses and assets include operations that design, develop, manufacture and sell high-performance fully electric vehicles and design, manufacture, install and sell Power Controls, Battery Technology, Wireless Technology, and Residential utility meters and remote, mission-critical devices mostly engineered through Artificial Intelligence, Machine Learning and Robotic technologies NIHK's current technology-focused business model is a result of our board resolution on September 15, 2020 to spin-in/off our specialty real estate holding business to an operating subsidiary and then pivot back to being a technology company. The Company has now returned back to its original technology-focused businesses of Power Controls, Battery Technology, Wireless Technology, and Residential utility meters and remote, mission-critical devices. Prior to September 15, 2020, NIHK used to be a specialty real estate firm, focuses on the acquisition, has used wireless technology to control both residential utility meters and remote, mission-critical devices since 2002. Corporate History Video River Networks, Inc. ("NIHK," "PubCo" or "Company") , previously known as Nighthawk Systems Inc., a Nevada corporation, used to be a provider of wireless and IP-based control solutions for the utility and hospitality industries. Since 2002, the Company's Power Controls Division has used wireless technology to control both residential utility meters and remote, mission-critical devices. The Set Top Box Division, acquired in October 2007, enables hotels to provide in

Business

Business Strategy and Deal Origination We have not finalized an acquisition target yet, but making progress in identifying several potential candidates from which we intend to pick those that meet our criteria for acquisition. Our acquisition and value creation strategy will be to identify, acquire and, after our initial EV Business acquisition, build an EV company that source, design, develop, manufacture and distribute high-performance, affordable and fully electric vehicles that suit the experience of our management team and can benefit from their operational expertise. Our Business acquisition strategy will leverage our management team's network of potential transaction sources, where we believe a combination of our relationships, knowledge and experience could effect a positive transformation or augmentation of existing businesses to improve their overall value proposition. Our management team's objective is to generate attractive returns and create value for our shareholders by applying our disciplined strategy of underwriting intrinsic worth and implementing changes after making an acquisition to unlock value. While our approach is focused on the EV-AI-ML-R industries where we have differentiated insights, we also have successfully driven change through a comprehensive value creation plan framework. We favor opportunities where we can accelerate the target's growth initiatives. As a management team we have successfully applied this approach over approximately 16 years and have deployed capital successfully in a range of market cycles. We plan to utilize the network and Finance industry experience of our Chief Executive Officer and our management team in seeking an initial EV Business acquisition and employing our Business acquisition strategy described below. Our CEO is a top financial professional with designations that include, CPA, CMA, and CFM. He's very knowledgeable in the fields of corporate law, real estate, lending, turnarounds and restructuring

View Full Filing

View this 10-K filing on SEC EDGAR