OneMeta Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>OneMeta Inc. has filed its 2023 10-K report, detailing its financial performance and corporate history.</b>

AI Summary

OneMeta Inc. (ONEI) filed a Annual Report (10-K) with the SEC on April 1, 2024. OneMeta Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company was formerly known as WebSafety, Inc., Blindspot Alert, Inc., and Promotions on Wheels Holdings, Inc. OneMeta Inc. is incorporated in Nevada (NV). The company's principal business address is 1 Hampshire Court, Newport Beach, CA 92660. The filing includes financial data for the fiscal years ending December 31, 2023, 2022, and 2021.

Why It Matters

For investors and stakeholders tracking OneMeta Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of OneMeta Inc.'s financial health and operational status for the fiscal year 2023, crucial for investors assessing the company's performance and future prospects. The historical company name changes (WebSafety, Inc., Blindspot Alert, Inc., Promotions on Wheels Holdings, Inc.) indicate potential shifts in business strategy or focus over time, which could be relevant to understanding the company's evolution.

Risk Assessment

Risk Level: low — OneMeta Inc. shows low risk based on this filing. The filing is a standard 10-K, which is a routine annual disclosure for public companies and does not inherently contain new, high-risk information.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand OneMeta Inc.'s current financial position and potential challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period of report)
• 2024-04-01 — Filing Date (Date filed)
• 000-56565 — SEC File Number (SEC file number for OneMeta Inc.)
• 7374 — SIC Code (Standard Industrial Classification code)

Key Players & Entities

• OneMeta Inc. (company) — Filer name
• WebSafety, Inc. (company) — Former company name
• Blindspot Alert, Inc. (company) — Former company name
• Promotions on Wheels Holdings, Inc. (company) — Former company name
• Newport Beach (location) — City in business address
• CA (location) — State in business address
• NV (location) — State of incorporation
• 10-K (document) — Form type

FAQ

Industry Context

OneMeta Inc. operates within the Services-Computer Processing & Data Preparation industry, as indicated by its 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 statement) for the fiscal years 2023, 2022, and 2021.
2. Review any disclosed risk factors to understand potential challenges and uncertainties facing OneMeta Inc.
3. Examine the business description and management discussion and analysis (MD&A) sections for insights into the company's strategy and performance drivers.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-04-01: Filing Date — Date the 10-K report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for OneMeta Inc. as presented in the provided data, with historical financial data for prior years available for comparison.

Key Financial Figures

• $0.001 — as of December 31, 2023 Common Stock, $0.001 par value 32,995,460 Series A Prefe
• $1,600 — rent an executive office at the cost of $1,600 per month and it is rented on a month-t
• $5.00 — security with a market price less than $5.00 per share or an exercise price of less

Filing Documents

• form10-k.htm (10-K) — 1002KB
• ex31-1.htm (EX-31.1) — 18KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 14KB
• 0001493152-24-012247.txt (&nbsp;) — 4296KB
• onei-20231231.xsd (EX-101.SCH) — 25KB
• onei-20231231_cal.xml (EX-101.CAL) — 33KB
• onei-20231231_def.xml (EX-101.DEF) — 148KB
• onei-20231231_lab.xml (EX-101.LAB) — 318KB
• onei-20231231_pre.xml (EX-101.PRE) — 247KB
• form10-k_htm.xml (XML) — 420KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 6 Item 1B. Unresolved Staff Comments 6 Item 2.

Properties

Properties 7 Item 3.

Legal Proceedings

Legal Proceedings 7 Item 4. Mine Safety Disclosures 7 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 8 Item 6. Reserved 15 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 15 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 18 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 19 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 20 Item 9A.

Controls and Procedures

Controls and Procedures 20 Item 9B. Other Information 20 PART III Item 10. Directors, Executive Officers and Corporate Governance 21 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 24 Item 13. Certain Relationships and Related Transactions and Director Independence 28 Item 14. Principal Accountant Fees and Services 28 PART IV Item 15. Exhibits and Financial Statement Schedules 29 Item 16. Form 10-K Summary 29

SIGNATURES

SIGNATURES 30 2 PART I Unless otherwise indicated in this report, "Company," "OneMeta," "we," "us," "our," and similar terms refer to OneMeta Inc. DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS This report includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements in this report, other than statements of historical fact, are "forward-looking statements" for purposes of these provisions, including any projections of earnings, revenues or other financial items, any statements of the plans and objectives of our management for future operations, any the business or any assets acquired from other parties, any statements regarding future economic conditions or performance, and any statements of assumptions underlying any of the foregoing. In some cases, forward-looking statements can be identified by the use of terminology such as "may," "will," "expects," "plans," "anticipates," "intends," "seeks," "believes," "estimates," "potential," "forecasts," "continue," or other forms of these words or similar words or expressions, or the negative thereof or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements contained herein are reasonable, there can be no assurance that such expectations or any of the forward-looking statements will prove to be correct, and actual results will likely differ, and could differ materially, from those projected or assumed in the forward-looking statements. Investors are cautioned not to unduly rely on any such

forward-looking statements

forward-looking statements. All subsequent forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. Our actual results will likely differ, and may differ materially, from anticipated results. Financial estimates are subject to change and are not intended to be relied upon as predictions of future operating results. All forward-looking statements included in this report are made as of the date hereof and are based on information available to us as of such date. We assume no obligation to update any forward-looking statement. If we do update or correct one or more forward-looking statements, investors and others should not conclude that we will make additional updates or corrections. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to inherent risks and uncertainties. Please see Item 1A "Risk Factors" for a discussion of these risks and uncertainties. DISCLOSURE REGARDING TRADEMARKS This report includes trademarks, tradenames and service marks that are our property or the property of other third parties. Solely for convenience, such trademarks and tradenames sometimes appear without any "" or "" symbol. However, failure to include such symbols is not intended to suggest, in any way, that we will not assert our rights or the rights of any applicable licensor, to these trademarks and tradenames. Item 1. Business. The Company was originally incorporated as Promotions on Wheels Holdings, Inc., a Nevada corporation, on July 3, 2006. On December 26, 2008, the name of the Company was changed to Blindspot Alert, Inc. On September 11, 2009, the Company's name was changed to WebSafety, Inc. On March 23, 2021, the Company's name was changed to VeriDetx Corp. On June 8, 2021, the Company's name was changed to WebSafety, Inc. On August 1, 2022, the Company acquired Metalanguage Corp (the "Acquisition"). Metalan

Business

Business Summary At the time of its initial formation in 2006, the Company was a development stage company that offered live promotions and marketing events using custom-built mobile displays. Today, the Company is developing a stack of cutting-edge artificial intelligence technologies that solve everyday problems with an innovative and pragmatic approach. Using natural language processing sentiment analytics and behavioral prediction to metaverse enhancement, the Company is attempting to solve problems that will elevate our human condition. The Company has recently launched two products: Verbum, which is a platform that enables fluent and effective communication among individuals that do not speak a similar language; and Verbum SDK. Verbum SDK is a software development kit that allows developers to create multi-language translation tools for their own use. Our Products The Company's current products described in detail below have proprietary technology and associated patents. The Company is currently working on patents for future product offerings. Verbum . Verbum supports near-real time web-based conversations, discussions, meetings, and online chats in 143 languages, enabling fluent and effective communication among individuals that do not speak a similar language. This product is distributed through the Company's online platform, direct sales to businesses and organizations, and the Company is attempting to develop partnerships with existing video conferencing providers. The competitive position is against other video conferencing providers that also offer live interpretation services, such as Microsoft Teams, Zoom and Google Meet. The Company believes its main competitors are organizations that supply human interpreters which can be 10X times more expensive than the Company's Verbum product. The primary market for the Company's Verbum product would be any organization or individual that requires real-time interpretation services. Verbum SDK . Verb

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View this 10-K filing on SEC EDGAR