Oculus Visiontech Q3 2024: Assets Stable, Shares Authorized

TL;DR

OVTC Q3 assets flat at $91.4M, 250M common shares authorized.

AI Summary

Oculus Visiontech Inc. filed its Q3 2024 10-Q report on November 12, 2024, for the period ending September 30, 2024. The company reported $91,422,569 in assets for both the current period and the prior year-end. No revenue figures are explicitly stated in the provided excerpt, but the company has authorized 250,000,000 shares of common stock and 500,000,000 shares of preferred stock.

Why It Matters

This filing provides a snapshot of Oculus Visiontech's financial position as of Q3 2024, detailing asset levels and share structure, which are key indicators for investors.

Risk Assessment

Risk Level: low — The provided excerpt is a standard 10-Q filing with no immediate red flags or significant negative financial indicators.

Key Numbers

• $91.4M — Total Assets (As of September 30, 2024, and December 31, 2023.)
• 250,000,000 — Authorized Common Shares (Indicates the total number of common shares the company can issue.)
• 500,000,000 — Authorized Preferred Shares (Indicates the total number of preferred shares the company can issue.)

Key Players & Entities

• OCULUS VISIONTECH INC. (company) — Filer
• 20240930 (date) — Period of Report
• 20241112 (date) — Filing Date
• 91,422,569 (dollar_amount) — Total Assets
• 250,000,000 (dollar_amount) — Authorized Common Shares
• 500,000,000 (dollar_amount) — Authorized Preferred Shares

FAQ

Filing Documents

• ovtz20240930_10q.htm (10-Q) — 716KB
• ex_744353.htm (EX-31.1) — 9KB
• ex_744354.htm (EX-31.2) — 8KB
• ex_744355.htm (EX-32.1) — 4KB
• ex_744356.htm (EX-32.2) — 4KB
• logo01.jpg (GRAPHIC) — 5KB
• 0001437749-24-034425.txt ( ) — 3483KB
• ovtz-20240930.xsd (EX-101.SCH) — 40KB
• ovtz-20240930_cal.xml (EX-101.CAL) — 22KB
• ovtz-20240930_def.xml (EX-101.DEF) — 211KB
• ovtz-20240930_lab.xml (EX-101.LAB) — 171KB
• ovtz-20240930_pre.xml (EX-101.PRE) — 239KB
• ovtz20240930_10q_htm.xml (XML) — 503KB

– 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 24 Item 1A.

Risk Factors

Risk Factors 24 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24 Item 3. Defaults Upon Senior Securities 24 Item 4. Mine Safety Disclosure 24 Item 5. Other Information 24 Item 6. Exhibits 24 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: 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; our expectations regarding competition and growth in our sector; the future sources and availability of additional funding; and 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 difficult to pre

- 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) September 30, 2024 December 31, 2023 ASSETS Current Assets: Cash $ 3,486 $ 156,574 Prepaid expenses and other current assets (Note 4) 13,127 27,381 Total Assets $ 16,613 $ 183,955 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY) Current Liabilities: Accounts payable and accrued liabilities (Note 5) $ 101,720 $ 136,248 Accounts payable and accrued liabilities - related parties 231,630 137,475 Total current liabilities 333,350 273,723 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 September 30, 2024 and December 31, 2023 respectively 46,850,710 46,850,710 Additional paid in capital 1,485,000 1,479,031 Accumulated other comprehensive loss ( 33,871 ) ( 32,863 ) Accumulated deficit ( 48,618,576 ) ( 48,386,646 ) Stockholders' equity (deficiency) ( 316,737 ) ( 89,768 ) Total Liabilities and Stockholders' Equity (Deficiency) $ 16,613 $ 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 September 30, For the nine months ended September 30, 2024 2023 2024 2023 Expenses: Consulting (Note 11) $ 16,000 $ 45,000 $ 77,250 $ 135,000 Research and development (Note 10) 1,455 4,624 6,186 93,561 Selling, general and administrative (Notes 9 and 11) 51,596 79,049 144,835 200,696 Stock-based compensation (Notes 7 and 11) 290 14,923 5,969 75,936 Loss from operations ( 69,341 ) ( 143,596 ) ( 234,240 ) ( 505,193 ) Interest income 1

View Full Filing

View this 10-Q filing on SEC EDGAR