VASO Corp Files Q2 2024 10-Q Report
Ticker: VASO · Form: 10-Q · Filed: Aug 14, 2024 · CIK: 839087
| Field | Detail |
|---|---|
| Company | Vaso Corp (VASO) |
| Form Type | 10-Q |
| Filed Date | Aug 14, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 19 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
VASO Corp dropped its Q2 10-Q, check financials.
AI Summary
VASO Corporation filed its 10-Q for the quarterly period ended June 30, 2024. The company, formerly known as Vasomedical, Inc., is incorporated in Delaware and headquartered in Plainview, NY. The filing details its financial performance and operational status for the specified quarter.
Why It Matters
This filing provides investors with an update on VASO Corp's financial health and operational performance for the second quarter of 2024, crucial for investment decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial information, not indicating immediate or significant new risks.
Key Players & Entities
- VASO Corporation (company) — Registrant
- June 30, 2024 (date) — Quarterly period end date
- Vasomedical, Inc. (company) — Former company name
- Delaware (location) — State of incorporation
- Plainview, NY (location) — Company headquarters
FAQ
What is the primary business of VASO Corporation?
VASO Corporation is involved in the ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS industry, SIC code 3845.
When was the company formerly known as Vasomedical, Inc.?
The company was formerly known as Vasomedical, Inc. and changed its name on June 6, 2012.
What is the filing date of this 10-Q report?
This 10-Q report was filed on August 14, 2024.
What is the fiscal year end for VASO Corporation?
VASO Corporation's fiscal year ends on December 31.
What is the SEC file number for VASO Corporation?
The SEC file number for VASO Corporation is 0-18105.
Filing Stats: 4,627 words · 19 min read · ~15 pages · Grade level 20 · Accepted 2024-08-14 16:00:52
Filing Documents
- ea0210706-10q_vaso.htm (10-Q) — 869KB
- ea021070601ex31-1_vaso.htm (EX-31.1) — 10KB
- ea021070601ex31-2_vaso.htm (EX-31.2) — 10KB
- ea021070601ex32-1_vaso.htm (EX-32.1) — 3KB
- ea021070601ex32-2_vaso.htm (EX-32.2) — 3KB
- image_001.jpg (GRAPHIC) — 3KB
- 0001213900-24-068957.txt ( ) — 5630KB
- vaso-20240630.xsd (EX-101.SCH) — 55KB
- vaso-20240630_cal.xml (EX-101.CAL) — 50KB
- vaso-20240630_def.xml (EX-101.DEF) — 245KB
- vaso-20240630_lab.xml (EX-101.LAB) — 458KB
- vaso-20240630_pre.xml (EX-101.PRE) — 258KB
- ea0210706-10q_vaso_htm.xml (XML) — 899KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION 1
- FINANCIAL STATEMENTS
ITEM 1 - FINANCIAL STATEMENTS 1 CONDENSED CONSOLIDATED BALANCE SHEETS as of June 30, 2024 (unaudited) and December 31, 2023 1 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (unaudited) for the Three and Six Months Ended June 30, 2024 and 2023 2 CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (unaudited) for the Three and Six Months Ended June 30, 2024 and 2023 3 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) for the Six Months Ended June 30, 2024 and 2023 4 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited) 5
- MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 21
- CONTROLS AND PROCEDURES
ITEM 4 - CONTROLS AND PROCEDURES 28
- OTHER INFORMATION
PART II - OTHER INFORMATION 29
– EXHIBITS
ITEM 6 – EXHIBITS 29 Page i
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
- FINANCIAL STATEMENTS
ITEM 1 - FINANCIAL STATEMENTS Vaso Corporation and Subsidiaries CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share data) June 30, 2024 December 31, 2023 (unaudited) ASSETS CURRENT ASSETS Cash and cash equivalents $ 25,652 $ 11,342 Short-term investments - 13,979 Accounts and other receivables, net of an allowance for credit losses and commission adjustments of $ 9,615 at June 30, 2024 and $ 9,708 at December 31, 2023 7,213 12,377 Receivables due from related parties 1,098 929 Inventories, net 1,218 1,470 Deferred commission expense 3,316 3,285 Prepaid expenses and other current assets 2,392 1,717 Total current assets 40,889 45,099 Property and equipment, net of accumulated depreciation of $ 10,579 at June 30, 2024 and $ 10,538 at December 31, 2023 1,423 1,174 Operating lease right of use assets 2,328 1,949 Goodwill 15,556 15,588 Intangibles, net 1,489 1,406 Other assets, net 4,826 4,902 Investment in EECP Global 596 683 Deferred tax assets, net 4,956 4,956 Total assets $ 72,063 $ 75,757 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 2,953 $ 2,670 Accrued commissions 937 2,411 Accrued expenses and other liabilities 5,080 7,335 Finance lease liabilities - current 62 72 Operating lease liabilities - current 1,074 928 Sales tax payable 704 699 Income taxes payable 90 30 Deferred revenue - current portion 15,924 15,883 Notes payable - current portion 9 9 Due to related party 3 3 Total current liabilities 26,836 30,040 LONG-TERM LIABILITIES Notes payable, net of current portion 1 6 Finance lease liabilities, net of current portion - 25 Operating lease liabilities, net of current portion 1,254 1,020 Deferred revenue, net of current portion 15,776 16,317 Other long-term liabilities 1,475 1,506 Total long-term liabilities 18,506 18,874 COMMITMENTS AND CONTINGENCIES