QUOTEMEDIA INC. Files 2023 Annual Report on Form 10-K

TL;DR

<b>QUOTEMEDIA INC. filed its 2023 10-K, reporting $90.5M in assets and $123.7K in net income.</b>

AI Summary

QUOTEMEDIA INC (QMCI) filed a Annual Report (10-K) with the SEC on April 8, 2024. QUOTEMEDIA INC. reported total assets of $90,477,798 for the fiscal year ended December 31, 2023. The company's net income for the fiscal year ended December 31, 2023, was $123,685. Total debt for QUOTEMEDIA INC. was not explicitly stated but liabilities were $90477798 as of December 31, 2023. Revenue from contracts with customers in Canada for QUOTEMEDIA INC. was reported for the fiscal years 2021, 2022, and 2023. QUOTEMEDIA INC. reported $0 in Software Licenses revenue for the fiscal year ended December 31, 2023.

Why It Matters

For investors and stakeholders tracking QUOTEMEDIA INC, this filing contains several important signals. The filing provides a detailed financial snapshot of QUOTEMEDIA INC.'s performance and position as of December 31, 2023, including asset and net income figures. Information on revenue segments, stock options, warrants, and liabilities offers insights into the company's operational structure and financial obligations.

Risk Assessment

Risk Level: medium — QUOTEMEDIA INC shows moderate risk based on this filing. The company's financial data, while specific, lacks comparative year-over-year growth percentages for key metrics like revenue and net income, making it difficult to assess performance trends without further analysis.

Analyst Insight

Investors should analyze the detailed breakdown of expenses and revenue segments to understand the drivers of the company's financial performance and identify potential growth areas or risks.

Financial Highlights

total Assets

90477798

net Income

123685

Revenue Breakdown

Key Numbers

• 90477798 — Total Assets (As of December 31, 2023)
• 123685 — Net Income (For the fiscal year ended December 31, 2023)
• 90477798 — Liabilities (As of December 31, 2023)
• 0 — Software Licenses Revenue (For the fiscal year ended December 31, 2023)

Key Players & Entities

• QUOTEMEDIA INC. (company) — Filer name
• 2023 (date) — Fiscal year end
• 2024-04-08 (date) — Filing date
• NV (jurisdiction) — State of incorporation
• FOUNTAIN HILLS (location) — Business address city
• AZ (location) — Business address state
• 7389 (sic_code) — Standard Industrial Classification
• Canada (location) — Revenue segment

FAQ

Risk Factors

• Financial Performance [medium — financial]: The company's financial results, including revenue and net income, are detailed for the fiscal year ended December 31, 2023.
• Business Operations [medium — operational]: The filing outlines various operational aspects including software licenses and revenue from contracts with customers in Canada.

Key Dates

• 2023-12-31: Fiscal Year End — Reporting period for financial statements.

Filing Documents

• qmci_10k.htm (10-K) — 1012KB
• qmci_ex21.htm (EX-21) — 2KB
• qmci_ex311.htm (EX-31.1) — 9KB
• qmci_ex312.htm (EX-31.2) — 12KB
• qmci_ex321.htm (EX-32.1) — 4KB
• qmci_ex322.htm (EX-32.2) — 5KB
• qmci_10kimg2.jpg (GRAPHIC) — 2KB
• qmci_10kimg3.jpg (GRAPHIC) — 3KB
• qmci_10kimg1.jpg (GRAPHIC) — 2KB
• 0001654954-24-004360.txt (&nbsp;) — 4794KB
• qmci-20231231.xsd (EX-101.SCH) — 51KB
• qmci-20231231_lab.xml (EX-101.LAB) — 289KB
• qmci-20231231_cal.xml (EX-101.CAL) — 47KB
• qmci-20231231_pre.xml (EX-101.PRE) — 238KB
• qmci-20231231_def.xml (EX-101.DEF) — 92KB
• qmci_10k_htm.xml (XML) — 702KB

BUSINESS

BUSINESS 3 ITEM 1A.

RISK FACTORS

RISK FACTORS 9 ITEM 1B. UNRESOLVED STAFF COMMENTS 12 ITEM 2.

PROPERTIES

PROPERTIES 12 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 12 ITEM 4. MINE SAFETY DISCLOSURES 12 PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES 13 ITEM 6.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 13 ITEM 6A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 20 ITEM 7.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 20 ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 20 ITEM 8A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 21 ITEM 8B. OTHER INFORMATION 21 PART III ITEM 9. DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE 22 ITEM 10.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 23 ITEM 11.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 26 ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 30 ITEM 13. PRINCIPAL ACCOUNTANT FEES AND SERVICES 31 PART IV ITEM 14. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 32

SIGNATURES

SIGNATURES 33 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS 34 The statements contained in this report on Form 10-K that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding our "expectations," "anticipation," "intentions," "beliefs," or "strategies" regarding the future. Our actual results could differ materially from those in the forward-looking statements. Among the factors that could cause actual results to differ materially are the factors discussed in Item 1A. "Risk Factors." 2 Table of Contents PART I

BUSINESS

ITEM 1. BUSINESS. General QuoteMedia, Inc. (OTCQB: QMCI) is a leading provider of financial data, market research information, analytics, news feeds, and financial software solutions to online brokerages, banks, clearing firms, financial service companies, media portals, and public corporations. We are a sole source for a wide array of market information and services, including streaming stock market data feeds, research and analysis information, content applications, portfolio management systems, software products, corporate investor relations provisioning, news services, mobile apps, and custom development. Our portfolio management products are provided on a SaaS (software as a service) model, as are our other interactive content and data APIs. We have created a scalable system that aggregates, manages, and streams information from the stock exchanges and from other information and content feeds across both the Web and dedicated telecommunication lines. Because QuoteMedia is a comprehensive single-source market data provider, our clients are not required to deal with multiple data vendors, many of which continue to employ outdated infrastructures and delivery technologies. This allows our clients to license comprehensive financial information applications and raw data more efficiently and cost-effectively. QuoteMedia offers clients the advantages of a sole source for a broad range of data, information, and services, including: Streaming Real-time Data Feeds Dynamic Content Web Displays Data APIs, XML and JSON Data News Feed Aggregation and Delivery Mobile App Solutions Complete Portfolio Management Corporate Investor Relations Solutions Research Information Supply Custom Software Application Development Our data delivery solutions are fast, lightweight, reliable, and easy to implement across all platforms. Our products are technologically advanced, providing a framework for quick implementation, seamless client integration and complete cus

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View this 10-K filing on SEC EDGAR