Odysight.ai Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Odysight.ai Inc. has submitted its 2023 annual 10-K filing detailing its operations and financial standing.</b>

AI Summary

Odysight.ai Inc. (ODYS) filed a Annual Report (10-K) with the SEC on March 26, 2024. Odysight.ai Inc. (formerly ScoutCam Inc.) filed its annual report for the fiscal year ended December 31, 2023. The company is engaged in the optical instruments and lenses industry, SIC code 3827. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business address is 14201 N. Hayden Road, Suite A-1, Scottsdale, AZ 85260. The report was filed on March 26, 2024.

Why It Matters

For investors and stakeholders tracking Odysight.ai Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Odysight.ai's business, financial condition, and results of operations for the fiscal year 2023, which is crucial for investors to assess the company's performance and future prospects. The filing includes detailed financial statements, risk factors, and management's discussion and analysis, offering insights into the company's strategic direction and potential challenges in the optical instruments and lenses market.

Risk Assessment

Risk Level: medium — Odysight.ai Inc. shows moderate risk based on this filing. The company's financial performance and future growth are subject to market conditions and competitive pressures within the optical instruments and lenses industry, as indicated by its SIC code and the nature of a 10-K filing.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 10-K to understand Odysight.ai's current financial health and strategic outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-03-26 — Filing Date (Date of submission)
• 3827 — SIC Code (Industry classification)
• 14201 N. Hayden Road, Suite A-1 — Business Address (Company location)

Key Players & Entities

• Odysight.ai Inc. (company) — Filer name
• ODYS (company) — Ticker symbol
• 10-K (filing) — Form type
• 2024-03-26 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end
• ScoutCam Inc. (company) — Former company name
• Intellisense Solutions Inc. (company) — Former company name
• 3827 (industry) — Standard Industrial Classification

FAQ

Industry Context

Odysight.ai Inc. operates within the optical instruments and lenses industry. This sector involves the design, manufacturing, and sale of devices that use optical principles for measurement, observation, or imaging.

Regulatory Implications

As a publicly traded company in the United States, Odysight.ai Inc. is subject to the regulations of the Securities and Exchange Commission (SEC), requiring regular filings such as the annual 10-K report.

What Investors Should Do

1. Review Odysight.ai's detailed financial statements for FY 2023.
2. Analyze the risk factors section for potential business challenges.
3. Compare FY 2023 performance against previous years if prior filings are available.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-03-26: Filing Date — Date the 10-K report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial analysis of the 2023 10-K filing; comparison to prior filings would require access to those documents.

Key Financial Figures

• $19,980 — n March 2014 in the aggregate amount of $19,980 through the sale of Common Stock to two
• $0.01 — 1,998,000 shares of our Common Stock at $0.01 per share. On January 10, 2019, we fo
• $1 million — e receipt of a purchase order exceeding $1 million from a major international defense cont
• $1.45 million — 23, we announced that we had received a $1.45 million order from this client. On October 17,
• $3.3 million — the purchase order amount to a total of $3.3 million for fiscal year 2024. Competition T

Filing Documents

• form10-k.htm (10-K) — 1697KB
• ex4-1.htm (EX-4.1) — 37KB
• ex21-1.htm (EX-21.1) — 5KB
• ex23-1.htm (EX-23.1) — 4KB
• ex31-1.htm (EX-31.1) — 35KB
• ex32-1.htm (EX-32.1) — 15KB
• form10-k_001.jpg (GRAPHIC) — 11KB
• form10-k_01.jpg (GRAPHIC) — 4KB
• form10-k_02.jpg (GRAPHIC) — 54KB
• 0001493152-24-011341.txt (&nbsp;) — 6952KB
• sctc-20231231.xsd (EX-101.SCH) — 48KB
• sctc-20231231_cal.xml (EX-101.CAL) — 66KB
• sctc-20231231_def.xml (EX-101.DEF) — 173KB
• sctc-20231231_lab.xml (EX-101.LAB) — 352KB
• sctc-20231231_pre.xml (EX-101.PRE) — 277KB
• form10-k_htm.xml (XML) — 1056KB

Forward-Looking Statements

Forward-Looking Statements 3 Part I Item 1.

Business

Business 4 item 1a.

risk factors

risk factors 12 Item 1b. unresolved staff comments 30 ITEM 1C CYBERSECURITY 30 Item 2.

properties

properties 31 item 3.

legal proceedings

legal proceedings 31 item 4. mine safety disclosures. 31 PART II item 5. market for registrant's common equity, related stockholder matters and issuer purchases 32 Item 6. [ RESERVED ] 35 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 35 item 7a.

quantitative and qualitative disclosures about market risk

quantitative and qualitative disclosures about market risk 43 item 8.

financial statements and supplementary data

financial statements and supplementary data 43 item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 44 item 9a.

controls and Procedures

controls and Procedures 44 Item 9b. Other information 44 Item 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 44 PART III Item 10. Directors, Executive Officers and corporate governance 45 item 11.

Executive Compensation

Executive Compensation 50 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 54 Item 13. Certain relationships and related transactions, and director independence 56 Item 14. Principal accounting fees and services 58 PART IV Item 15. exhibits AND financial statement schedules 59 ITEM 16. FORM 10-K SUMMARY 59

SIGNATURES

SIGNATURES 60 2 Forward-Looking This Annual Report on Form 10-K includes a number of forward-looking statements that reflect management ' s current views with respect to future events and financial performance. Forward-looking statements are projections in respect of future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other comparable terminology. Those statements include on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such

forward-looking statements

forward-looking statements. These our financial performance, including our history of operating losses; our ability to obtain additional funding to continue our operations; our ability to successfully develop and commercialize our products; changes in the regulatory environments of the United States and other countries in which we intend to operate; our ability to attract and retain key management and marketing personnel; competition from new market entrants; our ability to identify and pursue development of additional products; unfavorable conditions in the Company's industry, the global economy or global supply chain, including international trade relations, pandemics, political turmoil, natural catastrophes, warfare (such as the war between Russia and Ukraine and Israel's war against Hamas), and terrorist attacks. Readers are urged to carefully review and consider the various disclosures made by us in this Annual Report and in our other reports filed with the Securities and Exchange Commission. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results over time except as required by law. We believe that our assumptions are based upon reasonable data derived from and known about our business and operations. No assurances are made that actual results of operations or the results of our future activities will not differ materially from our assumptions. As used in this Annual Report and unless otherwise indicated, the terms "Odysight.ai," "we," "us," "our," or "our Company" refer to Odysight.ai Inc. (formerly known as ScoutCam Inc.). Unless otherwise specified, all dollar amounts are expressed in United States dollars. 3 Part I Item 1. Business Overview Our Mission We are a pionee

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View this 10-K filing on SEC EDGAR