Oblong, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Oblong, Inc. has filed its 2023 10-K report, detailing its financial performance and business operations.</b>

AI Summary

Oblong, Inc. (TWAV) filed a Annual Report (10-K) with the SEC on March 19, 2024. Oblong, Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The company was formerly known as GLOWPOINT, INC. and WIRE ONE TECHNOLOGIES INC. Oblong, Inc. is incorporated in Delaware and headquartered in Denver, CO. The SIC code for Oblong, Inc. is 7370, indicating services in computer programming and data processing. The filing was made on March 19, 2024.

Why It Matters

For investors and stakeholders tracking Oblong, Inc., this filing contains several important signals. This filing provides a comprehensive overview of Oblong, Inc.'s financial health and strategic direction for the fiscal year 2023, crucial for investors and stakeholders to assess performance. Understanding the company's historical name changes and current operational focus (computer programming and data processing) is key to contextualizing its market position and future growth prospects.

Risk Assessment

Risk Level: low — Oblong, Inc. shows low risk based on this filing. The filing is a standard 10-K annual report, which typically contains routine financial and operational information without immediate, significant market-moving news.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to assess Oblong, Inc.'s financial health and identify potential investment opportunities or risks.

Key Numbers

• 2023-12-31 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 2024-03-19 — Filing Date (FILED AS OF DATE)
• 7370 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)
• DE — State of Incorporation (STATE OF INCORPORATION)
• 303-640-3838 — Business Phone (BUSINESS PHONE)
• 001-35376 — SEC File Number (SEC FILE NUMBER)

Key Players & Entities

• Oblong, Inc. (company) — CONFORMED COMPANY NAME
• GLOWPOINT, INC. (company) — FORMER COMPANY
• WIRE ONE TECHNOLOGIES INC (company) — FORMER COMPANY
• Denver, CO (location) — BUSINESS ADDRESS CITY, STATE
• 7370 (industry_code) — STANDARD INDUSTRIAL CLASSIFICATION
• 20231231 (date) — CONFORMED PERIOD OF REPORT
• 20240319 (date) — FILED AS OF DATE
• 001-35376 (filing_id) — SEC FILE NUMBER

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K filing.
• 2024-03-19: Filing Date — Date Oblong, Inc. submitted its 10-K report to the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This is the primary document filed by Oblong, Inc. detailing its financial status for the fiscal year 2023.)

SIC Code

Standard Industrial Classification code used to classify businesses based on their primary activity. (Indicates Oblong, Inc.'s core business is in computer programming and data processing services.)

Key Financial Figures

• $0.0001 — ange on which registered Common Stock, $0.0001 par value OBLG Nasdaq Capital Market

Filing Documents

• glow-20231231.htm (10-K) — 1697KB
• oblg2023ex32conformedbylaws.htm (EX-3.2) — 98KB
• oblg2023ex419descriptionof.htm (EX-4.19) — 50KB
• oblg2023ex211.htm (EX-21.1) — 3KB
• oblg2023ex231.htm (EX-23.1) — 3KB
• oblg2023ex311.htm (EX-31.1) — 9KB
• oblg2023ex312.htm (EX-31.2) — 9KB
• oblg2023ex321.htm (EX-32.1) — 5KB
• oblg2023ex971clawbackpolicy.htm (EX-97.1) — 35KB
• image_2.jpg (GRAPHIC) — 0KB
• 0000746210-24-000009.txt (&nbsp;) — 8852KB
• glow-20231231.xsd (EX-101.SCH) — 57KB
• glow-20231231_cal.xml (EX-101.CAL) — 83KB
• glow-20231231_def.xml (EX-101.DEF) — 309KB
• glow-20231231_lab.xml (EX-101.LAB) — 632KB
• glow-20231231_pre.xml (EX-101.PRE) — 529KB
• glow-20231231_htm.xml (XML) — 1222KB

Risk Factors

Risk Factors 7 1B. Unresolved Staff Comments 24 1C. Cybersecurity 24 2. Properties 25 3. Legal Proceedings 25 4. Mine Safety Disclosures 25 PART II 5. Market for Registrant's Common Equity and Related Stockholder Matters and Issuer Purchases of Equity Securities 25 6. Reserved 26 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 26 7A. Qualitative and Quantitative Disclosures About Market Risk 33 8. Financial Statements and Supplemental Data 33 9 Change in and Disagreements with Accountants on Accounting and Financial Disclosure 33 9A.

Controls and Procedures

Controls and Procedures 33 9B. Other Information 34 9C. Disclosures Regarding Foreign Jurisdictions that Prevent Inspections 34 PART III 10. Directors, Executive Officers and Corporate Governance 34 11. Executive Compensation 39 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 43 13. Certain Relationships and Related Transactions, and Director Independence 44 14. Principal Accounting Fees and Services 45 PART IV 15. Exhibits and Financial Statement Schedules 47 16. Signatures 51 -i- CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This annual report on Form 10-K (this "Report") contains statements that are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and its rules and regulations (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended, and its rules and regulations (the "Exchange Act"). These forward-looking statements include, but are not limited to, statements about the plans, objectives, expectations and intentions of Oblong, Inc. ("Oblong" or "we" or "us" or the "Company"). All statements other than statements of current or historical fact contained in this Report, including statements regarding Oblong's future financial position, business strategy, budgets, projected costs and plans and objectives of management for future operations, are forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," and similar expressions, as they relate to Oblong, are intended to identify forward-looking statements. These statements are based on Oblong's current plans, and Oblong's actual future activities and results of operations may be materially different from those set forth in the forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ mater

Business

Item 1. Business Overview We are a provider of patented multi-stream collaboration products and managed services for video collaboration and network solutions. Mezzanine Product Offerings Our flagship product is called Mezzanine , a family of turn-key products that enable dynamic and immersive visual collaboration across multi-users, multi-screens, multi-devices, and multi-locations . Mezzanine allows m ultiple people to share, control and arrange content simultaneously, from any location, enabling all participants to see the same content in its entirety at the same time in identical formats, resulting in dramatic enhancements to both in-room and virtual videoconference presentations. Applications include video telepresence, laptop and application sharing, whiteboard sharing and slides. Spatial input allows content to be spread across screens, spanning different walls, scalable to an arbitrary number of displays and interaction with our proprietary wand device. Mezzanine s ubstantially enhances day-to-day virtual meetings with technology that accelerates decision making, improves communication, and increases productivity. Mezzanine scales up to support the most immersive and commanding innovation centers; across to link labs, conference spaces, and situation rooms; and down for the smallest work groups. Mezzanine's digital collaboration platform can be sold as delivered systems in various configurations for small teams to total immersion experiences. The family includes the 200 Series (two display screen), 300 Series (three screen), and 600 Series (six screen). We also sell maintenance and support contracts related to Mezzanine. Historically, customers have used Mezzanine products in traditional office and operating center environments such as conference rooms or other presentation spaces. As discussed below, sales of our Mezzanine products have been adversely affected by commercial response to the COVID-19 pandemic and its aftermath. Like many technology

View Full Filing

View this 10-K filing on SEC EDGAR