Nanophase Technologies Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Nanophase Technologies Corp. has filed its 2023 10-K annual report detailing its fiscal year performance.</b>

AI Summary

NANOPHASE TECHNOLOGIES Corp (SLSN) filed a Annual Report (10-K) with the SEC on March 28, 2024. Nanophase Technologies Corporation filed its 2023 Annual Report on Form 10-K on March 28, 2024. The report covers the fiscal year ending December 31, 2023. The company is classified under SIC code 2844 for Perfumes, Cosmetics & Other Toilet Preparations. Nanophase Technologies is incorporated in Delaware. The filing includes financial data and business information for the fiscal year 2023.

Why It Matters

For investors and stakeholders tracking NANOPHASE TECHNOLOGIES Corp, this filing contains several important signals. This filing provides a comprehensive overview of Nanophase Technologies' financial health and operational activities for the 2023 fiscal year, crucial for investors to assess performance and future outlook. As a public company, the 10-K filing is a mandatory disclosure that offers insights into the company's business, risk factors, and financial statements, enabling informed investment decisions.

Risk Assessment

Risk Level: medium — NANOPHASE TECHNOLOGIES Corp shows moderate risk based on this filing. The company's business is subject to risks inherent in the chemical and manufacturing industries, including market demand, competition, and regulatory changes, as detailed in the 10-K filing.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Nanophase Technologies' performance and potential challenges.

Key Numbers

• 20231231 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 20240328 — Filing Date (FILED AS OF DATE)
• 2023-01-01 — Fiscal Year Start (Reporting Period)
• 2022-12-31 — Prior Year End (Balance Sheet Date)

Key Players & Entities

• NANOPHASE TECHNOLOGIES Corp (company) — COMPANY CONFORMED NAME
• 2844 (regulator) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (company) — STATE OF INCORPORATION
• 6303231200 (dollar_amount) — BUSINESS PHONE
• LibertyvilleBankAndTrust (company) — Customer
• LibertyvilleBankAndTrustOne (company) — Customer
• BeachcorpLLC (company) — Customer

FAQ

Industry Context

Nanophase Technologies operates within the chemical manufacturing sector, specifically focusing on materials science and nanotechnology applications.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including the requirement to file annual reports (10-K) detailing financial performance and business operations.

What Investors Should Do

1. Review the full 10-K filing for detailed financial statements and management discussion.
2. Analyze the risk factors section to understand potential challenges and uncertainties.
3. Compare 2023 performance metrics with previous years to identify trends.

Key Dates

• 2024-03-28: 10-K Filing — Annual Report filing for fiscal year 2023
• 2023-12-31: Fiscal Year End — End date of the reporting period

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year 2023, providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $79 b — ny with annual revenue of approximately $79 billion, is a "globally leading supplier
• $3.8 million — s ended December 31, 2023 and 2022, was $3.8 million and $3.0 million, respectively. This re
• $3.0 m — 31, 2023 and 2022, was $3.8 million and $3.0 million, respectively. This represents ou
• $6.8 million — d development expenses of approximately $6.8 million and no related cumulative capital expen

Filing Documents

• nanx-10k_123123.htm (10-K) — 1281KB
• ex21-1.htm (EX-21.1) — 4KB
• ex23-1.htm (EX-23.1) — 3KB
• ex31-1.htm (EX-31.1) — 13KB
• ex31-2.htm (EX-31.2) — 14KB
• ex32.htm (EX-32) — 7KB
• 0001999371-24-004138.txt (&nbsp;) — 6522KB
• nanx-20231231.xsd (EX-101.SCH) — 50KB
• nanx-20231231_cal.xml (EX-101.CAL) — 81KB
• nanx-20231231_def.xml (EX-101.DEF) — 168KB
• nanx-20231231_lab.xml (EX-101.LAB) — 384KB
• nanx-20231231_pre.xml (EX-101.PRE) — 311KB
• nanx-10k_123123_htm.xml (XML) — 1011KB

Forward-Looking Statements

Forward-Looking Statements 7 Investor Information 8 Item 1A.

Risk Factors

Risk Factors 8 Item 1B. Unresolved Staff Comments 8 Item 1C. Cybersecurity 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 10 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 15 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 15 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 15 Item 9A.

Controls and Procedures

Controls and Procedures 15 Item 9B. Other Information 16 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 16 PART III Item 10. Directors, Executive Officers and Corporate Governance 16 Item 11.

Executive Compensation

Executive Compensation 19 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 22 Item 13. Certain Relationships and Related Transactions, and Director Independence 23 Item 14. Principal Accounting Fees and Services 24 PART IV Item 15. Exhibits and Financial Statement Schedules 24 Item 16. Form 10-K Summary 25 1 PART I Item 1. General Company Background Nanophase Technologies Corporation ("Nanophase," "Company," "we," "our," or "us"), along with its wholly owned subsidiary, Solsence, LLC (our "Solsence beauty science subsidiary"), is a leading innovator in minerals-based and scientifically-driven health care solutions across beauty and life science categories, protecting skin from environmental aggressors and aiding in medical diagnostics. Skin health and medical diagnostics combined currently make up the great majority of our business and drive our forward growth strategy, with additional revenue being generated from other legacy advanced materials applications. The Company was incorporated in Illinois on November 25, 1989 and became a Delaware corporation during November 1997. Our common stock trades on the OTCQB marketplace under the symbol NANX. We have development and application laboratories, and manufacturing capacity in three locations in the Chicago, Illinois area. Leveraging a platform of integrated patented and proprietary technologies, we create products with unique performance to enhance end-consumers' health and well-being. We offer soup-to-nuts production, from engineered materials, formulation development, and finished product development, to commercial manufacturing and packaging capabilities. Our expertise in materials engineering allows us to effectively coat and disperse materials on a nano and "non-nano" scale for use in a variety of markets in skin health, including for use in sunscreens as Active Pharmaceutical Ingredients ("APIs") and as fully developed prestige skin care products, marketed and so

View Full Filing

View this 10-K filing on SEC EDGAR