REGO PAYMENT ARCHITECTURES, INC. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Rego Payment Architectures, Inc. has filed its 2023 10-K report detailing its fiscal year-end operations.</b>

AI Summary

REGO PAYMENT ARCHITECTURES, INC. (RPMT) filed a Annual Report (10-K) with the SEC on April 1, 2024. Rego Payment Architectures, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company was formerly known as Virtual Piggy, Inc. and Moggle, Inc. Rego Payment Architectures, Inc. is incorporated in Delaware. The principal executive offices are located at 325 Sentry Parkway, Suite 200, Blue Bell, PA 19422. The company's telephone number is (267) 465-7530.

Why It Matters

For investors and stakeholders tracking REGO PAYMENT ARCHITECTURES, INC., this filing contains several important signals. This filing provides a comprehensive overview of the company's financial performance, business operations, and risk factors for the fiscal year 2023. Investors and stakeholders can use this report to assess the company's financial health, strategic direction, and potential risks.

Risk Assessment

Risk Level: low — REGO PAYMENT ARCHITECTURES, INC. shows low risk based on this filing. The filing is a standard 10-K report, indicating routine disclosure rather than immediate significant events.

Analyst Insight

Review the full 10-K filing for detailed financial statements, management discussion, and risk factors to understand the company's performance and outlook.

Key Numbers

• 2023 — Fiscal Year End (Reporting Period)
• December 31 — Fiscal Year End Date (Reporting Period)
• 0001214659-24-005793 — Accession Number (Filing Identifier)
• 000-53944 — SEC File Number (Company Filing Identifier)
• 24809854 — Film Number (Filing Identifier)
• 35-2327649 — IRS Number (Company Identifier)
• 19422 — ZIP Code (Principal Executive Offices)
• (267) 465-7530 — Telephone Number (Company Contact Information)

Key Players & Entities

• REGO PAYMENT ARCHITECTURES, INC. (company) — Registrant Name
• 2023 (date) — Fiscal Year End
• December 31 (date) — Fiscal Year End
• Delaware (jurisdiction) — State of Incorporation
• 35-2327649 (identifier) — IRS Employer Identification No.
• 325 Sentry Parkway, Suite 200 (address) — Principal Executive Offices
• Blue Bell, PA (address) — Principal Executive Offices
• 19422 (postal_code) — Principal Executive Offices Zip Code

FAQ

Industry Context

Rego Payment Architectures, Inc. operates in the software services industry, specifically prepackaged software.

Regulatory Implications

The company is subject to SEC regulations for public companies, including the requirement to file annual reports on Form 10-K.

What Investors Should Do

1. Analyze the financial statements within the 10-K for revenue, expenses, and profitability trends.
2. Review the 'Risk Factors' section to understand potential challenges and uncertainties facing the company.
3. Examine the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' for management's perspective on performance.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-04-01: Filing Date — Date the 10-K report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year 2023, following the previous year's reporting cycle.

Key Financial Figures

• $0.0001 — ection 12(g) of the Act: Common Stock, $0.0001 par value Indicate by check mark if t
• $323 billion — en Z has an estimated spending power of $323 billion per year, while it is estimated that Ge
• $600 billion — e it is estimated that Gen Z influences $600 billion in family spending per year. They use
• $4 — The U.S. Fintech market has achieved a $4 trillion market size in 2023 and projec
• $2.6 — ment is digital payment, valued at over $2.6 trillion in 2023. 60% of credit union
• $28.5 — obal financial sector is expected to be $28.5 trillion by 2025 with a 6% CAGR. 75%
• $14.79 — payments revenue is projected to reach $14.79 trillion by 2027. FinTech companies a
• $1.76 — ogy will increase the global economy by $1.76 trillion by 2030. The largest economic
• $962 billion — cing products and services estimated at $962 billion. Payments and financial services will b
• $433 billion — ices will be impacted by an approximate $433 billion. The sectors benefiting the most will b
• $440 billion — t the most are anticipated to be China ($440 billion) and the US ($407 billion). The global
• $407 billion — to be China ($440 billion) and the US ($407 billion). The global P2P market size was value
• $2.2 — he global P2P market size was valued at $2.2 trillion in 2022 and is projected to gr
• $12 — 2022 and is projected to grow to almost $12 trillion by 2032. In 2022, the largest
• $1.5 — has an estimated transaction volume of $1.5 trillion with 431 million users. Artif

Filing Documents

• rpmt-20231231.htm (10-K) — 1191KB
• ex21.htm (EX-21) — 2KB
• ex31_1.htm (EX-31.1) — 13KB
• ex31_2.htm (EX-31.2) — 13KB
• ex32_1.htm (EX-32.1) — 5KB
• ex32_2.htm (EX-32.2) — 5KB
• 0001214659-24-005793.txt (&nbsp;) — 6147KB
• rpmt-20231231.xsd (EX-101.SCH) — 78KB
• rpmt-20231231_cal.xml (EX-101.CAL) — 26KB
• rpmt-20231231_def.xml (EX-101.DEF) — 321KB
• rpmt-20231231_lab.xml (EX-101.LAB) — 598KB
• rpmt-20231231_pre.xml (EX-101.PRE) — 314KB
• rpmt-20231231_htm.xml (XML) — 598KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 11 Item 1B. Unresolved Staff Comments 22 Item 1C. Cybersecurity 22 Item 2.

Properties

Properties 23 Item 3.

Legal Proceedings

Legal Proceedings 23 Item 4. Mine Safety Disclosures 23 PART II Item 5. Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 24 Item 6. [Reserved] 24 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 24 Item7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 30 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 30 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 30 Item 9A.

Controls and Procedures

Controls and Procedures 31 Item 9B. Other Information 31 Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 31 PART III Item 10. Directors, Executive Officers and Corporate Governance 32 Item 11.

Executive Compensation

Executive Compensation 33 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 36 Item 13. Certain Relationships and Related Transactions, and Director Independence 39 Item 14. Principal Accountant Fees and Services 40 PART IV Item 15. Exhibits and Financial Statement Schedules 41 Item 16. Form 10-K Summary 44 Table of Contents PART I SPECIAL NOTE REGARDING

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This report contains "forward-looking statements" within the meaning of 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 other than statements of historical fact included or incorporated by reference in this annual report on Form 10-K, including without limitation, of management for future operations, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expects," "intends," "plans," "projects," "estimates," "anticipates," or "believes" or the negative thereof or any variation thereon or similar terminology or expressions. We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to: our ability to raise additional capital, our limited revenues generated to date, our ability to attract and retain qualified personnel, our dependence on third party developers who we cannot control, our ability to develop and introduce a new service to the market in a timely manner, market acceptance of our services, our limited experience in a relatively new industry, the ability to successfully develop licensing programs and generate business, rapid

BUSINESS

ITEM 1. BUSINESS . General Development REGO Payment Architectures, Inc. (the "Company," "REGO," "we", or "us") was incorporated in Delaware on February 11, 2008 under the name Chimera International Group, Inc. On April 4, 2008, we amended our certificate of incorporation and changed our name to Moggle, Inc. On August 22, 2011, we filed a Certificate of Ownership with the Secretary of State of Delaware, pursuant to which the Company's newly formed wholly owned subsidiary, Virtual Piggy Incorporated was merged into and with the Company (the "Merger"). In connection with the Merger and in accordance with Section 253 of the Delaware General Corporation Law, the name of the Company was changed from "Moggle, Inc." to "Virtual Piggy, Inc." On February 28, 2017, we amended our certificate of incorporation and changed our name to REGO Payment Architectures, Inc. Our principal offices are located at 325 Sentry Parkway, Suite 200, Blue Bell, PA 19422 and our telephone number is (267) 465-7530. As of the date of this report, we have not generated significant revenues. Our initial business plan was to develop an online game platform to allow game companies to create, monetize and distribute massive multiplayer online games (MMOG). The Company's technology was the monetization component of this overall software platform (our "Platform"). During 2010, we analyzed the market potential for an expanded Company solution and decided to concentrate our efforts on the delivery of a full-featured Company solution that was not restricted to online gaming. The expanded Company solution was designed to provide a complete online solution for families and parents to teach their children about financial management and spending on gaming, retail, music and entertainment. In late 2013, we rebranded our Company product under the name "Oink". In March 2016, we discontinued our prior Oink product offering. Our focus currently is monetizing the Mazoola Digital Wallet Platform in the Financial T

View Full Filing

View this 10-K filing on SEC EDGAR