ReposiTrak, Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>ReposiTrak, Inc. has filed its Q2 2024 10-Q report, detailing financial activities up to December 31, 2023.</b>

AI Summary

ReposiTrak, Inc. (TRAK) filed a Quarterly Report (10-Q) with the SEC on February 14, 2024. ReposiTrak, Inc. filed a 10-Q report for the period ending December 31, 2023. The filing covers the second quarter of fiscal year 2024. The company's fiscal year ends on June 30. ReposiTrak, Inc. is incorporated in Nevada. The company's business address is in Murray, Utah.

Why It Matters

For investors and stakeholders tracking ReposiTrak, Inc., this filing contains several important signals. This filing provides investors with the latest financial performance and operational details for ReposiTrak, Inc. Understanding the 10-Q is crucial for assessing the company's financial health and future prospects.

Risk Assessment

Risk Level: low — ReposiTrak, Inc. shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not indicate any unusual or significant negative events.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand ReposiTrak's performance and outlook.

Key Numbers

• 2023-12-31 — Period End Date (Conformed Period of Report)
• 2024-02-14 — Filing Date (Filed as of date)
• Q2 2024 — Fiscal Quarter (Filing details)
• 06-30 — Fiscal Year End (Company fiscal year end)

Key Players & Entities

• ReposiTrak, Inc. (company) — Filer
• 2023-12-31 (date) — Conformed Period of Report
• 2024-02-14 (date) — Filed as of date
• 7374 (sic_code) — Standard Industrial Classification
• NV (state) — State of Incorporation
• UT (state) — State of Business Address
• 435-645-2000 (phone) — Business Phone
• PARK CITY GROUP INC (company) — Former Company Name

FAQ

Industry Context

ReposiTrak, Inc. operates in the services sector, specifically computer processing and data preparation.

Regulatory Implications

The filing is a 10-Q, a standard quarterly report required by the Securities and Exchange Commission (SEC) under the 1934 Act.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Review management's discussion and analysis (MD&A) for insights into operational performance.
3. Check for any new risk factors or updates to existing ones.

Key Dates

• 2023-12-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-02-14: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is a 10-Q filing, which is a routine quarterly report. No specific comparison data to a prior filing is available in this header information.

Key Financial Figures

• $0.01 — ch registered Common stock, par value $0.01 per share TRAK New York Stock Excha

Filing Documents

• trak20231231_10q.htm (10-Q) — 1031KB
• ex_620690.htm (EX-31.1) — 11KB
• ex_620691.htm (EX-31.2) — 11KB
• ex_620692.htm (EX-32.1) — 5KB
• ex_620693.htm (EX-32.2) — 5KB
• 0001437749-24-004196.txt (&nbsp;) — 4147KB
• trak-20231231.xsd (EX-101.SCH) — 30KB
• trak-20231231_def.xml (EX-101.DEF) — 214KB
• trak-20231231_lab.xml (EX-101.LAB) — 210KB
• trak-20231231_pre.xml (EX-101.PRE) — 233KB
• trak-20231231_cal.xml (EX-101.CAL) — 32KB
• trak20231231_10q_htm.xml (XML) — 579KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 1 Consolidated Condensed Balance Sheets as of December 31, 2023 and June 30, 2023 (Unaudited) 1 Consolidated Condensed Statements of Operations and Comprehensive Income for the Three and Six Months Ended December 31, 2023 and 2022 (Unaudited) 2 Consolidated Condensed Statements of Cash Flows for the Six Months Ended December 31, 2023 and 2022 (Unaudited) 3 Consolidated Condensed Statements of Stockholders' Equity for the Three and Six Months Ended December 31, 2023 and 2022 (Unaudited) 4 Notes to Consolidated Condensed Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 14 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 23 Item 4.

Controls and Procedures

Controls and Procedures 24

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 5. Other Information 24 Item 6. Exhibits 24

Signatures

Signatures 25 PART I FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS REPOSITRAK, INC. Consolidated Condensed Balance Sheets (Unaudited) December 31, 2023 June 30, 2023 Assets Current Assets Cash and cash equivalents $ 23,253,071 $ 23,990,879 Receivables, net of allowance for doubtful accounts of $ 219,163 and $ 170,103 at December 31, 2023 and June 30, 2023, respectively 3,799,551 2,523,019 Contract asset – unbilled current portion 150,180 186,959 Prepaid expense and other current assets 366,766 573,763 Total Current Assets 27,569,568 27,274,620 Property and equipment, net 716,979 986,300 Other Assets: Deposits and other assets 22,414 22,414 Prepaid expense – less current portion 8,996 36,282 Contract asset – unbilled long-term portion 108,052 108,052 Operating lease – right-of-use asset 280,958 310,796 Customer relationships 197,100 262,800 Goodwill 20,883,886 20,883,886 Capitalized software costs, net 541,450 698,281 Total Other Assets 22,042,856 22,322,511 Total Assets $ 50,329,403 $ 50,583,431 Liabilities and Shareholders ' Equity Current liabilities Accounts payable $ 332,306 $ 431,387 Accrued liabilities 1,634,620 1,620,000 Contract liability – deferred revenue 2,026,565 1,903,001 Operating lease liability – current 61,372 58,771 Notes payable and financing leases – current 216,542 219,262 Total current liabilities 4,271,405 4,232,421 Long-term liabilities Operating lease liability – less current portion 231,830 263,047 Notes payable and financing leases – less current portion 83,677 206,032 Total liabilities 4,586,912 4,701,500 Commitments and contingencies Stockholders ' equity: Preferred Stock; $ 0.01 par value, 30,000,000 shares authorized; Series B Preferred, 700,000 shares authorized; 625,375 shares issued and outstanding at December 31, 2023 and June 30, 2023; 6,254 6,254 Series B-1 Preferred, 550,000 shares authorized; 142,30

View Full Filing

View this 10-Q filing on SEC EDGAR