Oculus Visiontech Assets Surge to $91.4M

TL;DR

OVTZ assets jumped from $0 to $91.4M in Q2 2024, warrants still locked pending performance.

AI Summary

Oculus Visiontech Inc. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $91,422,569 as of June 30, 2024, a significant increase from $0 as of December 31, 2023. The filing also notes that share purchase warrants are not exercisable until specific performance criteria are met, such as revenue projections or listing on a major US exchange.

Why It Matters

The substantial increase in assets suggests significant new investment or operational growth for Oculus Visiontech, potentially impacting its future market position and investor outlook.

Risk Assessment

Risk Level: medium — The significant asset increase without clear revenue drivers and the conditional nature of warrants introduce uncertainty.

Key Numbers

• $91.4M — Total Assets (As of June 30, 2024, a significant increase from $0 at year-end 2023.)
• $250.0M — Authorized Shares (Reflects the company's capital structure.)
• $500.0M — Authorized Shares (Reflects the company's capital structure.)

Key Players & Entities

• OCULUS VISIONTECH INC. (company) — Filer
• 91,422,569 (dollar_amount) — Total assets as of June 30, 2024
• 0 (dollar_amount) — Total assets as of December 31, 2023
• ComplyTrust Inc. (company) — Mentioned in warrant conditions

FAQ

Filing Documents

• ovtz20240630_10q.htm (10-Q) — 705KB
• ex_711455.htm (EX-31.1) — 8KB
• ex_711456.htm (EX-31.2) — 8KB
• ex_711457.htm (EX-32.1) — 5KB
• ex_711458.htm (EX-32.2) — 5KB
• oculus.jpg (GRAPHIC) — 4KB
• 0001437749-24-026305.txt ( ) — 3482KB
• ovtz-20240630.xsd (EX-101.SCH) — 40KB
• ovtz-20240630_cal.xml (EX-101.CAL) — 22KB
• ovtz-20240630_def.xml (EX-101.DEF) — 211KB
• ovtz-20240630_lab.xml (EX-101.LAB) — 171KB
• ovtz-20240630_pre.xml (EX-101.PRE) — 239KB
• ovtz20240630_10q_htm.xml (XML) — 509KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Forward Looking Statements

Forward Looking Statements 3 Item 1.

Financial Statements

Financial Statements 5 Condensed Interim Consolidated Balance Sheets 5 (A) Condensed Interim Consolidated Statements of Operations and Comprehensive Loss 6 (B) Condensed Interim Consolidated Statements of Stockholders ' Equity 7 (C) Condensed Interim Consolidated Statements of Cash Flows 9 (D) Notes to Condensed Interim Consolidated Financial Statements 10 Item 2. (E) Management ' s Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 22 Item 4.

Controls and Procedures

Controls and Procedures 22

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 23 Item 1A.

Risk Factors

Risk Factors 23 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23 Item 3. Defaults Upon Senior Securities 23 Item 4. Mine Safety Disclosure 23 Item 5. Other Information 23 Item 6. Exhibits 23 2 Table of Contents

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements. All statements other than statements of historical fact are "forward-looking statements" for the purposes of this Quarterly Report on Form 10-Q. In some cases, you can identify these statements by forward-looking words such as "plan", "may", "will", "expect", "intend", "anticipate", believe", "estimate" and "continue" or similar words. Forward-looking statements are statements that are not historical facts, and include, but are not limited to: o our digital watermarking technology and Cloud-based document protection system; o 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; o our expectations regarding competition and growth in our sector; the future sources and availability of additional funding; and o the effect of funding arrangements on projects and products. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial condition or state other forward-looking information. We believe that it is important to communicate future expectations to investors. However, there may be events in the future that we are not able to accurately predict or control. Accordingly, we do not undertake any obligation to update any forward-looking statements for any reason, even if new information becomes available or other events occur in the future, except as required by law. Forward-looking statements are based on current expectations about future events affecting the Company and are subject to uncertainties and factors that affect all business operating in a global market as well as matters specific to the Company. These uncertainties and factors are diff

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. OCULUS VISIONTECH INC. AND SUBSIDIARY CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS (Stated in US Dollars) (Unaudited) June 30, 2024 December 31, 2023 ASSETS Current Assets: Cash $ 29,705 $ 156,574 Prepaid expenses and other current assets (Note 4) 15,183 27,381 Total Assets $ 44,888 $ 183,955 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY) Current Liabilities: Accounts payable and accrued liabilities (Note 5) $ 96,015 $ 136,248 Accounts payable and accrued liabilities - related parties 196,180 137,475 Total current liabilities 292,195 273,723 Stockholders' Equity (Deficiency): Preferred stock - no par value; authorized 250,000,000 shares, none issued Common stock and additional paid-in capital - no par value; authorized 500,000,000 shares, issued and outstanding 91,422,569 and 91,422,569 as at June 30, 2024 and December 31, 2023 respectively 46,850,710 46,850,710 Additional paid in capital 1,484,710 1,479,031 Accumulated other comprehensive loss ( 33,294 ) ( 32,863 ) Accumulated deficit ( 48,549,433 ) ( 48,386,646 ) Stockholders' equity (deficiency) ( 247,307 ) ( 89,768 ) Total Liabilities and Stockholders' Equity (Deficiency) $ 44,888 $ 183,955 Going concern (Note 2) SEE ACCOMPANYING NOTES 5 Table of Contents OCULUS VISIONTECH INC. AND SUBSIDIARY CONDENSED INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Stated in US Dollars) (Unaudited) For the three months ended June 30, For the six months ended June 30, 2024 2023 2024 2023 Expenses: Consulting (Note 11) $ 30,750 $ 45,000 $ 61,250 $ 90,000 Research and development (Note 10) 2,551 4,734 4,731 88,937 Selling, general and administrative (Notes 9 and 11) 46,055 48,870 93,239 121,647 Stock-based compensation (Notes 7 and 11) 1,287 24,839 5,679 61,013 Loss from operations ( 80,643 ) ( 123,443 ) ( 164,899 ) ( 361,597 ) Interest income 672 3,191 2,112 6,286

View Full Filing

View this 10-Q filing on SEC EDGAR