NOCOPI TECHNOLOGIES INC/MD/ Files 10-K for Fiscal Year Ended December 31, 2023

TL;DR

<b>NOCOPI TECHNOLOGIES INC/MD/ filed its 10-K report for the fiscal year ending December 31, 2023.</b>

AI Summary

NOCOPI TECHNOLOGIES INC/MD/ (NNUP) filed a Annual Report (10-K) with the SEC on March 25, 2024. Filed a 10-K annual report for the fiscal year ended December 31, 2023. Company is incorporated in Maryland (MD). Business and mailing address located at 480 Shoemaker Road, Suite 104, King of Prussia, PA 19406. Fiscal year end is December 31. SIC code is 3944 for GAMES, TOYS & CHILDREN'S VEHICLES (NO DOLLS & BICYCLES).

Why It Matters

For investors and stakeholders tracking NOCOPI TECHNOLOGIES INC/MD/, this filing contains several important signals. This filing provides a comprehensive overview of the company's financial performance and operations for the past fiscal year. Investors and analysts can use this report to assess the company's financial health, strategic direction, and potential risks.

Risk Assessment

Risk Level: low — NOCOPI TECHNOLOGIES INC/MD/ shows low risk based on this filing. The filing is a standard 10-K, which is a routine annual report and does not contain immediate, significant new information that would alter the risk profile.

Analyst Insight

Review the full 10-K filing for detailed financial statements, risk factors, and management discussion to understand the company's performance and outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-03-25 — Filing Date (Filed as of date)
• 3944 — SIC Code (Standard Industrial Classification)
• MD — State of Incorporation (State of Incorporation)

Key Players & Entities

• NOCOPI TECHNOLOGIES INC/MD/ (company) — Filer name
• 2023-12-31 (date) — Conformed period of report
• 2024-03-25 (date) — Filed as of date
• 0000888981 (company) — Central Index Key
• 3944 (industry) — Standard Industrial Classification
• MD (location) — State of Incorporation
• PA (location) — State of Business Address
• 19406 (postal_code) — ZIP code of Business Address

FAQ

Industry Context

The company operates within the Games, Toys & Children's Vehicles industry (SIC 3944).

Regulatory Implications

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

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and other key metrics.
2. Review the risk factors section for potential challenges and uncertainties.
3. Examine management's discussion and analysis (MD&A) for insights into business strategy and outlook.

Year-Over-Year Comparison

This is the 10-K filing for the fiscal year ended December 31, 2023. Previous filings would include interim reports (10-Q) and potentially prior annual reports (10-K).

Key Financial Figures

• $0.01 — g) of the Act: Common Stock, Par Value $0.01 (Title of class) Indicate by check
• $3 — s expected to increase to approximately $3 trillion in 2022. Product labels and pa
• $163,400 — ber 31, 2022, we expended approximately $163,400 and $140,400, respectively, on research
• $140,400 — we expended approximately $163,400 and $140,400, respectively, on research and developm

Filing Documents

• nnup_10k-123123.htm (10-K) — 560KB
• nnup_ex4x3.htm (EX-4.3) — 36KB
• nnup_ex21x1.htm (EX-21.1) — 1KB
• nnup_ex31x1.htm (EX-31.1) — 10KB
• nnup_ex31x2.htm (EX-31.2) — 10KB
• nnup_ex32x1.htm (EX-32.1) — 4KB
• 0001079973-24-000431.txt (&nbsp;) — 3463KB
• nnup-20231231.xsd (EX-101.SCH) — 28KB
• nnup-20231231_cal.xml (EX-101.CAL) — 45KB
• nnup-20231231_def.xml (EX-101.DEF) — 75KB
• nnup-20231231_lab.xml (EX-101.LAB) — 284KB
• nnup-20231231_pre.xml (EX-101.PRE) — 223KB
• nnup_10k-123123_htm.xml (XML) — 334KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 6 Item 1B. Unsolved Staff Comments 14 Item 1C. Cybersecurity 14 Item 2.

Properties

Properties 14 Item 3.

Legal Proceedings

Legal Proceedings 15 Item 4. Mine Safety Disclosures 15 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 15 Item 6. Reserved 16 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 16 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 20 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 20 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 21 Item 9A.

Controls and Procedures

Controls and Procedures 21 Item 9B. Other Information 21 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 21 PART III Item 10. Directors, Executive Officers and Corporate Governance 22 Item 11.

Executive Compensation

Executive Compensation 22 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 22 Item 13. Certain Relationships and Related Transactions, and Director Independence 22 Item 14. Principal Accountant Fees and Services 22 PART IV Item 15. Exhibit and Financial Statement Schedules 23 Item 16. Form 10-K Summary 23 i

Forward-Looking Statements

Forward-Looking Statements This report on Form 10-K contains forward-looking statements. Forward-looking statements involve risks and uncertainties, such as statements about our plans, objectives, expectations, assumptions or future events. In some cases, you can identify forward-looking statements by terminology such as "anticipate," "estimate," "plan," "project," "continuing," "ongoing," "expect," "we believe," "we intend," "may," "should," "will," "could" and similar expressions denoting uncertainty or an action that may, will or is expected to occur in the future. These statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from any future results, performances or achievements expressed or implied by the forward-looking statements. Examples of forward-looking Expected operating results, such as revenue, expenses, and capital expenditures Current or future volatility in market conditions Our belief that we have sufficient liquidity to fund our business operations during the next twelve months Strategy for customer retention, product development, market position, and risk management

Forward-looking statements

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: The extent to which we are successful in gaining new long-term relationships with customers or retaining significant existing customers and the level of service failures that could lead customers to use competitors' services. Strategic actions, including business acquisitions and our success in integrating acquired businesses. Our ability to improve our current credit rating with our vendors and the impact on our raw materials and other costs and competitive position of doing so. The impact of losing our intellectual property protections or the loss in value of our intellectual property. Changes in customer demand. The occurrence of hostilities, political instability or catastrophic events. Developments and changes in laws and regulations, including increased regulation of our industry through legislative action and revised rules and standards. Security breaches, cybersecurity attacks and other significant disruptions in our information technology systems. Such other factors as discussed throughout Part II, Item 7. Management's Discussion

Business

Item 1. Business Background Nocopi Technologies, Inc. develops and markets specialty reactive inks for multiple applications across various industries. Our specialty inks are used by our customers for a range of purposes from bringing entertainment products to life with a variety of color activations to providing document and brand authentication for security purposes aimed at reducing losses caused by fraudulent document reproduction or by product counterfeiting and/or diversion. Our primary markets are the large educational and toy products industry and the document and product authentication industry. We derive our revenues primarily from licensing our technologies on an exclusive or non-exclusive basis to licensees who incorporate our technologies into their product offering and from selling products incorporating our technologies to the licensees or to their licensed printers. Unless the context otherwise requires, all references to the " Company ," " we ," " our " or " us " and other similar terms means Nocopi Technologies, Inc., a Maryland corporation. Our website address is www.nocopi.com. Also, this report on Form 10-K includes the trade names of other companies. Unless specifically stated otherwise, the use or display by us of such other parties' names and trade names in this report is not intended to and does not imply a relationship with, or endorsement or sponsorship of us by, any of these other parties. Industry Overview and Market Trends The key ingredients to an ink are pigments, dyes, resins, surfactants, dryers, oils, solvents, water, waxes, and various other additives. There are many different types of both printing processes and print applications, so the mixing or preparation of formulations for these quantities widely vary. Pigments and dyes are the key ingredient that comprise the ink's color and are formulated from substances with certain characteristics that make them suitable for use on printed products. The printing inks market is s

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