VIVIC CORP. Files 2024 Annual Report

TL;DR

VIVIC CORP. 10-K filed: FY24 financials out, check for details.

AI Summary

VIVIC CORP. filed its 10-K for the fiscal year ending June 30, 2024, reporting its financial performance and business operations. The company, incorporated in Nevada and headquartered in Las Vegas, operates in the amusement and recreation services sector. This filing provides a comprehensive overview of its financial condition and strategic outlook for the period.

Why It Matters

This 10-K filing offers investors and stakeholders a detailed look into VIVIC CORP.'s financial health and operational performance for the fiscal year 2024, crucial for investment decisions.

Risk Assessment

Risk Level: medium — As a publicly traded company filing a 10-K, VIVIC CORP. is subject to standard market and regulatory risks, but specific risk factors are not detailed in the provided snippet.

Key Numbers

• FY 2024 — Fiscal Year End (Reporting period for the 10-K)
• 06/30/2024 — Fiscal Year End Date (End date of the reporting period)
• 10/23/2024 — Filing Date (Date the 10-K was submitted to the SEC)

Key Players & Entities

• VIVIC CORP. (company) — Filer of the 10-K report
• 0001703073 (company) — Central Index Key for VIVIC CORP.
• 20240630 (date) — Fiscal year end date
• 20241023 (date) — Filing date
• LAS VEGAS, NV (location) — Business and mailing address city and state

FAQ

Key Financial Figures

• $0.001 — ) OF THE ACT: Common Stock, par value $0.001 per share (Title of Class) Indicate
• $0.78 — 7,899,302 based upon a closing price of $0.78 per share. TABLE OF CONTENTS PART I
• $2.6 billion — c water craft market will increase from $2.6 billion in 2013 to $7.3 billion in 2024. Our
• $7.3 billion — l increase from $2.6 billion in 2013 to $7.3 billion in 2024. Our current primary goal is
• $1.6 million — lendar year 2023, achieving revenues of $1.6 million for calendar year 2023. We now have in-
• $10 million — ues for calendar year 2024 in excess of $10 million if we can deliver in 2024 all of the ya
• $50 million — oval, remit foreign currency of up to US$50 million (or its equivalent) and US$5 million (o
• $5 million — US$50 million (or its equivalent) and US$5 million (or its equivalent), respectively, each
• $100,000 — om Taiwan foreign currencies of up to US$100,000 (or its equivalent) per remittance if t

Filing Documents

• form10-k.htm (10-K) — 1315KB
• ex31-1.htm (EX-31.1) — 19KB
• ex31-2.htm (EX-31.2) — 20KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• form10-k_001.jpg (GRAPHIC) — 2KB
• 0001493152-24-042140.txt ( ) — 6536KB
• vivc-20240630.xsd (EX-101.SCH) — 47KB
• vivc-20240630_cal.xml (EX-101.CAL) — 69KB
• vivc-20240630_def.xml (EX-101.DEF) — 257KB
• vivc-20240630_lab.xml (EX-101.LAB) — 397KB
• vivc-20240630_pre.xml (EX-101.PRE) — 360KB
• form10-k_htm.xml (XML) — 834KB

RISK FACTORS

RISK FACTORS 10 ITEM 1B UNRESOLVED STAFF COMMENTS 21 ITEM 1C CYBERSECURITY 22 ITEM 2

PROPERTIES

PROPERTIES 22 ITEM 3

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 22 PART II ITEM 5 MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 22 ITEM 6 [RESERVED] 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 23 ITEM 7A

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 30 ITEM 8

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 30 ITEM 9 CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 30 ITEM 9A

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 30 ITEM 9B OTHER INFORMATION 31 ITEM 9C DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 31 PART III ITEM 10 DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 32 ITEM 11

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 33 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 33 ITEM 13 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE 34 ITEM 14 PRINCIPAL ACCOUNTANT FEES AND SERVICES 34 PART IV ITEM 15 EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 35 ITEM 16 FORM 10-K SUMMARY 2 INTRODUCTORY COMMENTS We are a Nevada holding company with operations conducted primarily through a branch in Taiwan and we own an entity formed in Hong Kong. References in this report to the "Company," "VIVC," "we," "us" and "our" refer to Vivic Corp., a Nevada company, and Vivic Corporation (Hong Kong) Limited its wholly-owned subsidiary on a consolidated basis. Where reference to a specific entity is required, the name of such specific entity will be referenced. All dollar amounts refer to US dollars unless otherwise indicated. 3 CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that are not historical facts, and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. All statements, other than Discussion and Analysis of Financial Condition and Results of Operations" regarding the Company's market projections, financial position, business strategy and the plans and objectives of management for future operations, events or developments which the Company expects or anticipates will or may occur in the future, including such things as future capital expenditures (including the amount and nature thereof); expansion and growth of the Company's business and operations; and other such matters are forward-looking statements.

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View this 10-K filing on SEC EDGAR