OZOP ENERGY SOLUTIONS, INC. Files 2023 Annual Report on Form 10-K

TL;DR

<b>OZOP ENERGY SOLUTIONS, INC. filed its 2023 annual report on Form 10-K, detailing its financial performance and business operations for the year ended December 31, 2023.</b>

AI Summary

OZOP ENERGY SOLUTIONS, INC. (OZSC) filed a Annual Report (10-K) with the SEC on April 16, 2024. OZOP ENERGY SOLUTIONS, INC. filed its annual report for the fiscal year ended December 31, 2023. The company's principal executive offices are located at 55 Ronald Reagan Blvd., Warwick, NY 10990. OZSC was formerly known as OZOP SURGICAL CORP. and Newmarkt Corp. The filing covers the fiscal year from January 1, 2023, to December 31, 2023. The report was filed on April 16, 2024.

Why It Matters

For investors and stakeholders tracking OZOP ENERGY SOLUTIONS, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of OZSC'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 company's historical financial data, including changes in equity and preferred stock, as presented in this filing, is essential for evaluating its financial stability and investment potential.

Risk Assessment

Risk Level: medium — OZOP ENERGY SOLUTIONS, INC. shows moderate risk based on this filing. The company has a history of name changes and complex capital structures involving various series of preferred stock, indicating potential financial complexities and a need for careful due diligence by investors.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand OZSC's financial position and operational challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Report period)
• 2024-04-16 — Filing Date (Report submission date)
• 2023-01-01 — Report Start Date (Fiscal year)
• 2022-12-31 — Prior Year End (Comparison period)

Key Players & Entities

• OZOP ENERGY SOLUTIONS, INC. (company) — Filer name
• OZSC (company) — Ticker symbol
• 55 RONALD REAGAN BLVD. (company) — Business address
• WARWICK (company) — Business address city
• NY (company) — Business address state
• 10990 (company) — Business address zip
• OZOP SURGICAL CORP. (company) — Former company name
• Newmarkt Corp. (company) — Former company name

FAQ

Industry Context

The company operates in the Miscellaneous Electrical Machinery, Equipment & Supplies sector.

Regulatory Implications

The filing is a standard 10-K annual report required by the Securities and Exchange Commission (SEC) for publicly traded companies.

What Investors Should Do

1. Review the full 10-K filing for detailed financial statements and management discussion.
2. Analyze the company's historical financial data, including equity structure and any changes.
3. Investigate the company's business operations and strategic initiatives for fiscal year 2023.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-04-16: Filing Date — Date the 10-K report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial analysis of the 2023 10-K filing; no prior filing data is provided for comparison.

Key Financial Figures

• $0.001 — Section 12(g) of the Act: Common Stock, $0.001 par value Indicate by check mark if t
• $11,250,000 — by Chis for the total purchase price of $11,250,000. In conjunction with the Agreement, Chi
• $13,200,000 — ries D SPA, an investor in exchange for $13,200,000 purchased one share of Series D Preferr
• $1,000 — ferred Stock ("Optional Redemption") at $1,000 (one thousand dollars) per share. The s
• $205,443 — 628 shares of common stock and received $205,443, net of offering costs. During the year
• $1,141,514 — 372 shares of common stock and received $1,141,514, net of offering costs. As of January 2
• $392,777 — 774 shares of common stock and received $392,777 net of offering costs. On May 2, 2023
• $10,000,000 — greed to provide the Company with up to $10,000,000 of funding upon effectiveness of a regi
• $10,000 — made in an amount equal l ing less than $10,000 or greater than $750,000. Puts may be d
• $750,000 — l ing less than $10,000 or greater than $750,000. Puts may be delivered by the Company t
• $1,230,04 — 649 shares of common stock and received $1,230,04 3 net of offering costs. From January 1
• $416,696 — shares of common stock for proceeds of $416,696 net of offering costs. Discontinued O
• $0.0063 — 2021. The Company valued the shares at $0.0063 per share, (the market value of the com
• $630,000 — e agreement) and had initially recorded $630,000 as a prepaid expense. On September 6, 2
• $30,000 — enance Agreement. The Company allocated $30,000 of the prepaid expense to the M

Filing Documents

• form10-k.htm (10-K) — 1330KB
• ex31-1.htm (EX-31.1) — 18KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 7KB
• 0001493152-24-014825.txt (&nbsp;) — 7184KB
• ozsc-20231231.xsd (EX-101.SCH) — 60KB
• ozsc-20231231_cal.xml (EX-101.CAL) — 72KB
• ozsc-20231231_def.xml (EX-101.DEF) — 287KB
• ozsc-20231231_lab.xml (EX-101.LAB) — 447KB
• ozsc-20231231_pre.xml (EX-101.PRE) — 382KB
• form10-k_htm.xml (XML) — 1010KB

Business

Business 4 Item 1A

Risk Factors

Risk Factors 8 Item 1B Unresolved Staff Comments 8 Item 2

Properties

Properties 8 Item 3

Legal Proceedings

Legal Proceedings 9 Item 4 Mine Safety Disclosures 9 PART II Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 9 Item 6

Selected Financial Data

Selected Financial Data 10 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 10 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 17 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 17 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 17 Item 9A

Controls and Procedures

Controls and Procedures 17 Item 9B Other Information 19 PART III Item 10 Directors, Executive Officers and Corporate Governance 19 Item 11

Executive Compensation

Executive Compensation 21 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 23 Item 13 Certain Relationships and Related Transactions, and Director Independence 23 Item 14 Principal Accountant Fees and Services 23 PART IV Item 15 Exhibits and Financial Statement Schedules 24

Signatures

Signatures 26 2 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This report contains forward-looking statements. The Securities and Exchange Commission (the "SEC") encourages companies to disclose forward-looking information so that investors can better understand a company's future prospects and make informed investment decisions. This report and other written and oral statements that we make from time to time contain such forward-looking statements that set out anticipated results based on management's plans and assumptions regarding future events or performance. We have tried, wherever possible, to identify such statements by using words such as "project", "believe", "anticipate", "plan", "expect", "estimate", "intend", "should", "would", "could", or "may", or other such words, verbs in the future tense and words and phrases that convey similar meaning and uncertainty of future events or outcomes to identify these forward–looking statements. There are a number of important factors beyond our control that could cause actual results to differ materially from the results anticipated by these forward–looking statements. While we make these forward–looking statements based on various factors and using numerous assumptions, you have no assurance the factors and assumptions will prove to be materially accurate when the events they anticipate actually occur in the future. Factors that could cause our actual results of operations and financial condition to differ materially are discussed in greater detail under Item 1A, "Risk Factors" of this annual report on Form 10-K. The forward–looking statements are based upon our beliefs and assumptions using information available at the time we make these statements. We caution you not to place undue reliance on our forward–looking statements as (i) these statements are neither predictions nor guaranties of future events or circumstances, and (ii) the assumptions, beliefs, expectations, forecasts and projections about

Business

Business Overview Ozop Energy Systems OES operates in the renewable, electric vehicle ("EV"), energy storage and energy resiliency sectors. We are engaged in multiple business lines that include project development as well as equipment distribution. Our solar and energy storage projects involve battery and solar photovoltaics (PV) installations. Equipment Distributor: OES operates in the component supply/distribution side of the renewable, resiliency and energy storage industries distributing the core components associated with residential and commercial solar PV systems as well as onsite battery storage and power generation. In April 2021, the Company signed a five- year lease (beginning June 1, 2021) of approximately 8,100 SF in California, for office and warehouse space to support the sales and distribution of our west coast operations. On February 22, 2023, with an effective date of March 1, 2023, the Company entered into a Sublease for a Single Subleasee Agreement (the "Sublease") with the landlord and a third party for the office and warehouse in Carlsbad California. Pursuant to the Sublease agreement, the third party will be responsible for all of the Company's lease obligations through May 31, 2026, the lease termination date. The Company and the subleasee have agreed to work together regarding any existing Company inventory in the facility. OES currently is focused on solar panel sales to other distributors and large installation companies. Modular Energy Distribution System: The Neo-Grid TM System comprises of the design engineering, installation, and operational methodologies as well as the financial arbitrage of how we produce, capture and distribute electrical energy for the EV markets. OES has acquired the license rights to the Neo-Grid TM System, a proprietary system (patent pending), for the capture and distribution of electrical energy for the EV market. The Neo-Grid TM System will serve both the private auto and the commercial sectors. The

View Full Filing

View this 10-K filing on SEC EDGAR