OneMedNet Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>OneMedNet Corp. has filed its 2023 annual report (10-K) detailing its financial performance and corporate structure.</b>

AI Summary

OneMedNet Corp (ONMDW) filed a Annual Report (10-K) with the SEC on April 9, 2024. OneMedNet Corp. filed its 2023 Form 10-K on April 9, 2024. The filing covers the fiscal year ending December 31, 2023. The company was formerly known as Data Knights Acquisition Corp. and changed its name on March 4, 2021. The company's primary SIC code is 8731 for Services-Commercial Physical & Biological Research. The filing includes details on various classes of common and preferred stock, including Series A One and Series A Two Preferred Stock.

Why It Matters

For investors and stakeholders tracking OneMedNet Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of OneMedNet Corp.'s financial health, operational status, and strategic direction for the fiscal year 2023, which is crucial for investors to assess the company's performance and future prospects. Understanding the details of the company's capital structure, including different classes of preferred and common stock, is essential for evaluating potential dilution, shareholder rights, and the overall financial complexity of OneMedNet Corp.

Risk Assessment

Risk Level: — OneMedNet Corp shows moderate risk based on this filing. The filing is a standard 10-K annual report, which typically contains routine financial and business disclosures without immediate, significant market-moving events.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand OneMedNet Corp.'s operational performance and potential challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-04-09 — Filing Date (Date the 10-K was filed)
• 0001849380 — Central Index Key (Unique identifier for the filer)
• 001-40386 — SEC File Number (SEC's file number for the company)

Key Players & Entities

• OneMedNet Corp. (company) — Filer name
• Data Knights Acquisition Corp. (company) — Former company name
• 2023-12-31 (date) — Fiscal year end
• 2024-04-09 (date) — Filing date
• 8731 (other) — Standard Industrial Classification
• DE (other) — State of incorporation

FAQ

Industry Context

OneMedNet Corp. operates within the commercial physical and biological research sector, as indicated by its SIC code.

Regulatory Implications

As a publicly traded company in the US, OneMedNet Corp. is subject to the reporting requirements of the Securities Exchange Act of 1934, including the annual filing of Form 10-K.

What Investors Should Do

1. Analyze the financial statements within the 10-K for revenue, expenses, and profitability trends.
2. Examine the 'Risk Factors' section to identify potential challenges and uncertainties facing the company.
3. Review management's discussion and analysis (MD&A) for insights into the company's strategy and outlook.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-04-09: Filing Date — Date OneMedNet Corp. submitted its 10-K to the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This filing provides the official annual financial and business overview of OneMedNet Corp.)

SIC Code

Standard Industrial Classification code used to classify businesses based on their primary activity. (Indicates OneMedNet Corp.'s primary business sector is Commercial Physical & Biological Research.)

Year-Over-Year Comparison

This is the initial 10-K filing for OneMedNet Corp. under its current name and structure, following its name change from Data Knights Acquisition Corp. in 2021. Therefore, direct year-over-year comparisons within this filing are limited.

Key Financial Figures

• $0.0001 — ch registered Common stock, par value $0.0001 per share ONMD The Nasdaq Stock Mar
• $11.50 — of Common Stock at an exercise price of $11.50 per share ONMDW The Nasdaq Stock Ma
• $0.79 — res of common stock on April 2, 2024 of $0.79. As of April 2, 2024, there were ther
• $2.87 billion — search and development, at a staggering $2.87 billion. Meanwhile, a 2018 study from the Tufts

Filing Documents

• form10-k.htm (10-K) — 1449KB
• ex4-1.htm (EX-4.1) — 24KB
• ex10-4.htm (EX-10.4) — 141KB
• ex10-5.htm (EX-10.5) — 167KB
• ex21.htm (EX-21) — 3KB
• ex23-1.htm (EX-23.1) — 3KB
• ex31-1.htm (EX-31.1) — 10KB
• ex31-2.htm (EX-31.2) — 10KB
• ex32-1.htm (EX-32.1) — 4KB
• ex32-2.htm (EX-32.2) — 4KB
• form10-k_001.jpg (GRAPHIC) — 2KB
• form10-k_002.jpg (GRAPHIC) — 6KB
• form10-k_003.jpg (GRAPHIC) — 17KB
• form10-k_004.jpg (GRAPHIC) — 29KB
• form10-k_005.jpg (GRAPHIC) — 22KB
• form10-k_006.jpg (GRAPHIC) — 23KB
• form10-k_007.jpg (GRAPHIC) — 20KB
• form10-k_008.jpg (GRAPHIC) — 30KB
• form10-k_009.jpg (GRAPHIC) — 33KB
• form10-k_010.jpg (GRAPHIC) — 29KB
• form10-k_011.jpg (GRAPHIC) — 35KB
• ex23-1_001.jpg (GRAPHIC) — 3KB
• 0001493152-24-014092.txt (&nbsp;) — 6480KB
• onmt-20231231.xsd (EX-101.SCH) — 40KB
• onmt-20231231_cal.xml (EX-101.CAL) — 58KB
• onmt-20231231_def.xml (EX-101.DEF) — 223KB
• onmt-20231231_lab.xml (EX-101.LAB) — 335KB
• onmt-20231231_pre.xml (EX-101.PRE) — 279KB
• form10-k_htm.xml (XML) — 597KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 15 Item 1B. Unresolved Staff Comments 22 Item 1C. Cybersecurity 22 Item 2.

Properties

Properties 23 Item 3.

Legal Proceedings

Legal Proceedings 23 Item 4. Mine Safety Disclosures 23 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 24 Item 6. [Reserved] 25 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 32 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 34 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosures 35 Item 9A.

Controls and Procedures

Controls and Procedures 35 Item 9B. Other Information 35 Item 9C. Disclosure Regarding Foreign Jurisdiction that Prevent Inspections. 35 PART III Item 10. Directors, Executive Officers and Corporate Governance 36 Item 11.

Executive Compensation

Executive Compensation 36 Item 12.

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

Security Ownership of Certain Beneficial Owner and Management and Related Stockholder Matters 36 Item 13. Certain Relationships and Related Transactions, and Director Independence 36 Item 14. Principal Accounting Fees and Services 36 PART IV Item 15. Exhibits, Financial Statement Schedules 37 Item 16. Form 10-K Summary 38

Signatures

Signatures 39 i CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. All statements other than statements of historical facts contained in this Annual Report on Form 10-K are forward-looking statements. The forward-looking expectations and projections about future events and financial trends that we believe may affect our business, financial condition, and results of operations. In some cases, you can identify these forward-looking statements by terms such as "anticipate," "believe," "continue," "could," "depends," "estimate," "expects," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would" or the negative of those terms or other similar expressions, although not all forward-looking statements contain those words. We have based these forward-looking statements on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, strategy, short- and long-term business operations and objectives, and financial needs. Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we b

View Full Filing

View this 10-K filing on SEC EDGAR