Oculus Visiontech Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Oculus Visiontech Inc. filed its 2023 10-K, detailing financial status and warrant conditions.</b>

AI Summary

OCULUS VISIONTECH INC. (OVTZ) filed a Annual Report (10-K) with the SEC on March 19, 2024. Oculus Visiontech Inc. filed its 2023 Form 10-K on March 19, 2024. The company's fiscal year ended on December 31, 2023. Total assets reported were $91,422,569 as of December 31, 2023. The company's business address is 837 West Hastings Street, Suite 507, Vancouver, A1, V6C 3N6. Share purchase warrants are not exercisable until specific performance criteria are met, such as revenue projections, listing on a major US exchange, or change of control.

Why It Matters

For investors and stakeholders tracking OCULUS VISIONTECH INC., this filing contains several important signals. The filing provides a comprehensive overview of the company's financial performance and position for the fiscal year 2023. The specific conditions for warrant exercisability are crucial for understanding potential future share dilution and company valuation.

Risk Assessment

Risk Level: low — OCULUS VISIONTECH INC. shows low risk based on this filing. The filing is a standard annual report (10-K) with no immediate red flags, indicating routine disclosure.

Analyst Insight

Review the detailed financial statements and the specific conditions for warrant exercisability to assess future financial implications.

Financial Highlights

total Assets

91,422,569

eps

0.01

Key Numbers

• 91,422,569 — Total Assets (As of December 31, 2023)
• 0.01 — EPS (For the fiscal year ended December 31, 2023)
• 250,000,000 — Authorized Shares (As of December 31, 2023)
• 500,000,000 — Authorized Shares (As of December 31, 2023)

Key Players & Entities

• OCULUS VISIONTECH INC. (company) — Filer name
• 20231231 (date) — Conformed period of report
• 20240319 (date) — Filed as of date
• 837 WEST HASTINGS STREET (address) — Business address street 1
• VANCOUVER (location) — Business address city
• V6C 3N6 (postal_code) — Business address zip
• ComplyTrust Inc. (company) — Mentioned in relation to revenue projections
• USA VIDEO INTERACTIVE CORP (company) — Former company name

FAQ

Risk Factors

• Share Purchase Warrants Exercisability [medium — financial]: Share purchase warrants are not exercisable until specific performance criteria are met, including revenue sales projections, listing on a major US exchange, or change of control.

Key Dates

• 2023-12-31: Fiscal Year End — Reporting period for the 10-K filing.
• 2024-03-19: Filing Date — Date the 10-K was officially submitted 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 operational overview for Oculus Visiontech Inc.)

Share Purchase Warrants

A security that gives the holder the right, but not the obligation, to purchase shares of a company's stock at a specified price within a certain timeframe. (The exercisability conditions for these warrants are critical for understanding potential future share issuance and dilution.)

Key Financial Figures

• $0.06 — cently completed second fiscal quarter ($0.06 on June 30, 2023) was approximately $ 4
• $1.00 — on the Bank of Canada closing rate was $1.00 (CAD) = $0.7393 (U.S.). Set forth belo
• $0.7393 — f Canada closing rate was $1.00 (CAD) = $0.7393 (U.S.). Set forth below are the exchan
• $76B — protection service revenues within the $76B 2023 worldwide data protection market t
• $5.8B — worldwide 2023 FinTech market fines of $5.8B increased by 57% from the previous year
• $54.6B — e (eGRC) 2023 market size was valued at $54.6B with a 13.8% CAGR reaching over $134B b
• $134B — $54.6B with a 13.8% CAGR reaching over $134B by 2030 (Source: GrandviewResearch) G
• $3.6B — is projecting 20% CAGR with revenues at $3.6B in 2023, with the GDPR Data Governance
• $6B — jecting 20% CAGR with revenues to reach $6B by 2026 (Source: Markets&Markets) Glo
• $98B — data management platform market size of $98B in 2023 is forecasting a 12% CAGR (Sour
• $12.3B — ory Technology (RegTech) market size of $12.3B in 2023 is forecasting a 24% CAGR thru
• $2.7B — a Privacy Management FY23 revenues were $2.7B and are expected grow 40% annually thru
• $31.3 — izations. Salesforce FY23 revenues were $31.3B, up 11% from prior year, with FY24 rev
• $34B — ior year, with FY24 revenue guidance to $34B. With over 2,000 partners and 150,000 c
• $599B — wide public cloud service revenues were $599B in FY23, with a forecasted 21% growth i

Filing Documents

• ovtz20231231_10k.htm (10-K) — 1313KB
• ex_638660.htm (EX-31.1) — 10KB
• ex_638661.htm (EX-31.2) — 10KB
• ex_638662.htm (EX-32.1) — 5KB
• ex_638663.htm (EX-32.2) — 5KB
• dcllp01.jpg (GRAPHIC) — 14KB
• dcllp02.jpg (GRAPHIC) — 13KB
• ovtz20231231_10kimg001.jpg (GRAPHIC) — 5KB
• ovtz20231231_10kimg002.jpg (GRAPHIC) — 38KB
• 0001437749-24-008443.txt (&nbsp;) — 4871KB
• ovtz-20231231.xsd (EX-101.SCH) — 45KB
• ovtz-20231231_cal.xml (EX-101.CAL) — 28KB
• ovtz-20231231_def.xml (EX-101.DEF) — 243KB
• ovtz-20231231_lab.xml (EX-101.LAB) — 212KB
• ovtz-20231231_pre.xml (EX-101.PRE) — 277KB
• ovtz20231231_10k_htm.xml (XML) — 631KB

Risk Factors

Risk Factors 15 Item 1B Unresolved Staff Comments 22 Item 2 Description of Properties 22 Item 3

Legal Proceedings

Legal Proceedings 22 Item 4 Mine Safety Disclosure 22 Part II Item 5 Market for Registration's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 23 Item 6

Selected Financial Data

Selected Financial Data 31 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 32 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 34 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 Disclosure Item 9A

Controls and Procedures

Controls and Procedures 54 Item 9B Other Information 54 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 54 PART III Item 10 Directors, Executive Officers and Corporate Governance 55 Item 11

Executive Compensation

Executive Compensation 59 Item 12

Security Ownership of Certain Beneficial Owners and Management

Security Ownership of Certain Beneficial Owners and Management 62 Item 13 Certain Relationships and Related Transactions 63 Item 14 Principal Accountant Fees and Services 63 Item 15 Exhibits, Financial Statement Schedules, and Reports on Form 8-K 64 Item 16 Form 10-K Summary 65 3 Table of Contents GENERAL References herein to "we," "us," and "the Company" are to Oculus VisionTech Inc. and our subsidiary. Cautionary Statement regarding Forward-Looking Statements This annual report on Form 10-K contains "forward-looking statements" within the meaning of the Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements made in this annual report, other than statements of historical fact, including statements addressing operating and financial performance, our products and services, including our digital watermarking technology and Cloud-based document protection system, our data privacy and data protection services and solutions, our technology, our cash needs, including our ability to fund our future capital expenditures and working capital requirements, and our expectations regarding competition and growth in our sector, are forward looking statements. Because they refer to future events or conditions, forward-looking statements may include words such as "anticipate," "believe," "estimate," "intend," "could," "should," "would," "may," "seek," "plan," "might," "will," "expect," "predict," "project," "forecast," "potential," "continue," "up to," and similar terms and phrases. Though we believe that the expectations reflected in these statements are reasonable, they involve certain assumptions, risks and uncertainties. For a discussion of the risks, uncertainties and assumptions that could affect our future events, developments or results, you should carefully review the risk factors described in "Item 1A. Risk Factors" b

View Full Filing

View this 10-K filing on SEC EDGAR