VASO Corp Files 2023 Annual Report on Form 10-K

TL;DR

<b>VASO Corporation has filed its 2023 annual report on Form 10-K, detailing its financial and operational status.</b>

AI Summary

VASO Corp (VASO) filed a Annual Report (10-K) with the SEC on April 1, 2024. VASO Corporation filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company is incorporated in Delaware and has its principal executive offices in Plainview, New York. VASO Corporation was formerly known as VASOMEDICAL, INC and prior to that, FUTURE MEDICAL PRODUCTS INC /DE/. The company's common stock has a par value of $.001. VASO Corporation is classified as a non-accelerated filer and a smaller reporting company.

Why It Matters

For investors and stakeholders tracking VASO Corp, this filing contains several important signals. This filing provides stakeholders with a comprehensive overview of VASO Corp's performance and financial health for the fiscal year 2023. As a non-accelerated filer and smaller reporting company, this report is crucial for investors to assess the company's current standing and future prospects.

Risk Assessment

Risk Level: low — VASO Corp shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate material changes or significant financial disclosures that would indicate high risk.

Analyst Insight

Review the full 10-K filing for detailed financial statements, risk factors, and management discussion to understand VASO Corp's operational performance and strategic direction.

Key Numbers

• 20231231 — Fiscal Year End (Conformed period of report)
• 20240401 — Filing Date (Filed as of date)
• 0000839087 — Central Index Key (Company identifier)
• 11-2871434 — IRS Number (Company identifier)
• 516-997-4600 — Business Phone (Registrant's telephone number)

Key Players & Entities

• VASO Corporation (company) — Registrant name
• Delaware (jurisdiction) — State of incorporation
• Plainview, New York (location) — Address of Principal Executive Offices
• VASOMEDICAL, INC (company) — Former company name
• FUTURE MEDICAL PRODUCTS INC /DE/ (company) — Former company name
• $.001 (dollar_amount) — Par value of common stock

FAQ

Industry Context

VASO Corporation operates within the Electromedical & Electrotherapeutic Apparatus industry (SIC code 3845).

Regulatory Implications

The filing is a standard Form 10-K, adhering to the reporting requirements of the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements within the 10-K for revenue, net income, and balance sheet details.
2. Review the 'Risk Factors' section (if present) for potential business and financial challenges.
3. Examine the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' for insights into performance drivers.

Year-Over-Year Comparison

This is the annual report for the fiscal year ended December 31, 2023, following previous filings by the company.

Key Financial Figures

• $176 m — y value of the Company at approximately $176 million, at $10.00 per share of Class A c
• $10.00 — mpany at approximately $176 million, at $10.00 per share of Class A common stock. As s
• $11.50 — A common stock at an exercise price of $11.50 per share. No shares of Class B common

Filing Documents

• ea0202244-10k_vasocorp.htm (10-K) — 1555KB
• ea020224401ex21_vasocorp.htm (EX-21) — 7KB
• ea020224401ex31_vasocorp.htm (EX-31) — 26KB
• ea020224401ex32_vasocorp.htm (EX-32) — 10KB
• image_001.jpg (GRAPHIC) — 3KB
• 0001213900-24-028734.txt (&nbsp;) — 9151KB
• vaso-20231231.xsd (EX-101.SCH) — 96KB
• vaso-20231231_cal.xml (EX-101.CAL) — 71KB
• vaso-20231231_def.xml (EX-101.DEF) — 389KB
• vaso-20231231_lab.xml (EX-101.LAB) — 717KB
• vaso-20231231_pre.xml (EX-101.PRE) — 398KB
• ea0202244-10k_vasocorp_htm.xml (XML) — 1441KB

– BUSINESS

ITEM 1 – BUSINESS 1

– RISK FACTORS

ITEM 1A – RISK FACTORS 6

– CYBERSECURITY

ITEM 1C – CYBERSECURITY 14

– PROPERTIES

ITEM 2 – PROPERTIES 14 PART II 15

– MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

ITEM 5 – MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 15

– [RESERVED]

ITEM 6 – [RESERVED] 15

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

ITEM 7 – MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. 15

– FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 8 – FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 22

– CONTROLS AND PROCEDURES

ITEM 9A – CONTROLS AND PROCEDURES 22

– OTHER INFORMATION

ITEM 9B – OTHER INFORMATION 22

– Disclosure Regarding

ITEM 9C – Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 22 PART III 23

– DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

ITEM 10 – DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 23

– EXECUTIVE COMPENSATION

ITEM 11 – EXECUTIVE COMPENSATION 26

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

ITEM 12 – SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 28

– CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

ITEM 13 – CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 29

– PRINCIPAL ACCOUNTING FEES AND SERVICES

ITEM 14 – PRINCIPAL ACCOUNTING FEES AND SERVICES 30 PART IV 31

– EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

ITEM 15 – EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 31

SIGNATURES

SIGNATURES 33 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS F-1 CONSOLIDATED BALANCE SHEETS F-4 CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME F-5 CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY F-6 CONSOLIDATED STATEMENTS OF CASH FLOWS F-7

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS F-8 EXHIBITS Exhibit 31 Certifications Pursuant to Securities Exchange Act Rule 13A-14(A)/15D-14(A) Exhibit 32 Certifications Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 i PART I

– BUSINESS

ITEM 1 – BUSINESS Except for historical information contained in this report, the matters discussed are forward-looking statements that involve risks and uncertainties. When used in this report, words such as "anticipates", "believes", "could", "estimates", "expects", "may", "plans", "potential" and "intends" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions, including the possibility of a downturn in the U.S. economy and continued effects of the COVID-19 pandemic; the effect of the dramatic changes taking place in IT and healthcare; continuation of the GEHC agreement; the impact of competitive technology and products and their pricing; medical insurance reimbursement policies; unexpected manufacturing or supplier problems; unforeseen difficulties and delays in product development programs; the actions of regulatory authorities and third-party payers in the United States and overseas; and the risk factors reported from time to time in the Company's SEC reports. The Company undertakes no obligation to update forward-looking statements as a result of future events or developments. Unless the context requires otherwise, all references to "we", "our", "us", "Company", "registrant", "Vaso" or "management" refer to Vaso Corporation and its subsidiaries. General Overview Vaso Corporation principally operates in three distinct business segments in the healthcare equipment and information technology industries. We manage and evaluate our operations, and report our financial results, through these three business segments. IT segment, operating through a wholly-owned subsidiary VasoTechnology, Inc

View Full Filing

View this 10-K filing on SEC EDGAR