Viewbix Inc. Files 2023 Annual Report (10-K)

TL;DR

<b>Viewbix Inc. has filed its 2023 10-K report, detailing its financial status and corporate history.</b>

AI Summary

Viewbix Inc. (VBIX) filed a Annual Report (10-K) with the SEC on March 25, 2024. Viewbix Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The company was formerly known as Virtual Crypto Technologies, Inc., Emerald Medical Applications Corp., and ZAXIS INTERNATIONAL INC. Key agreements include a Share Exchange Agreement with Gix Internet Ltd. on February 7, 2019. The filing details various intangible assets including customer relationships and technology-based intangible assets as of December 31, 2023. The company's business address is located at 14 Aryeh Shenkar Street, Herzliya, L3, 4672514.

Why It Matters

For investors and stakeholders tracking Viewbix Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Viewbix Inc.'s financial performance and operational details for the fiscal year 2023, crucial for investors assessing the company's current standing. The historical name changes and past agreements mentioned in the filing offer context into the company's evolution and strategic shifts over time.

Risk Assessment

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

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Viewbix Inc.'s performance and outlook for the upcoming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period of report)
• 2024-03-25 — Filing Date (Date the 10-K was filed)
• 1934 Act — SEC Act (Legislation under which the filing is made)
• 000-15746 — SEC File Number (Company's SEC file number)

Key Players & Entities

• Viewbix Inc. (company) — Filer name
• Virtual Crypto Technologies, Inc. (company) — Former company name
• Emerald Medical Applications Corp. (company) — Former company name
• ZAXIS INTERNATIONAL INC (company) — Former company name
• Gix Internet Ltd (company) — Party to Share Exchange Agreement
• Gix Media Ltd (company) — Party to Certain Agreement
• 14 ARYEH SHENKAR STREET (location) — Business and mailing address
• HERZLIYA (location) — City for business and mailing address

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-25: Filing Date — Date the 10-K was officially submitted 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 filing provides the official annual financial and operational overview for Viewbix Inc.)

Key Financial Figures

• $0.0001 — ng price of the common stock, par value $0.0001 per share ("Common Stock") on that date
• $14,459 — s sold to a third party for NIS 50,000 ($14,459). 3 On February 7, 2019, the Compan
• $11 million — d NIS 35 million in cash (approximately $11 million), out of which an amount of $0.5 millio
• $0.5 million — $11 million), out of which an amount of $0.5 million was deposited in trust for a period of
• $3.5 million — of credit in the total amount of up to $3.5 million and a long-term loan totaling $6 millio
• $6 m — 5 million and a long-term loan totaling $6 million, which Gix Media used to finance
• $1,500,000 — provide Gix Media with a loan of up to $1,500,000 to be withdrawn at the discretion of Gi
• $480,000 — l with loans in the aggregate amount of $480,000 (which sum may be increased to up to $1
• $1,000,000 — 00 (which sum may be increased to up to $1,000,000, at the discretion of the Lenders). In
• $0.50 — cise price per share of Common Stock of $0.50 and will expire and cease to be exercis

Filing Documents

• form10-k.htm (10-K) — 1792KB
• ex21-1.htm (EX-21.1) — 6KB
• ex31-1.htm (EX-31.1) — 11KB
• ex31-2.htm (EX-31.2) — 17KB
• ex32-1.htm (EX-32.1) — 4KB
• ex32-2.htm (EX-32.2) — 4KB
• form10-k_001.jpg (GRAPHIC) — 12KB
• form10-k_002.jpg (GRAPHIC) — 16KB
• form10-k_003.jpg (GRAPHIC) — 22KB
• form10-k_004.jpg (GRAPHIC) — 14KB
• form10-k_005.jpg (GRAPHIC) — 19KB
• form10-k_006.jpg (GRAPHIC) — 43KB
• form10-k_007.jpg (GRAPHIC) — 22KB
• form10-k_008.jpg (GRAPHIC) — 25KB
• form10-k_009.jpg (GRAPHIC) — 20KB
• form10-k_010.jpg (GRAPHIC) — 4KB
• form10-k_011.jpg (GRAPHIC) — 18KB
• 0001493152-24-011132.txt (&nbsp;) — 8375KB
• vbix-20231231.xsd (EX-101.SCH) — 62KB
• vbix-20231231_cal.xml (EX-101.CAL) — 75KB
• vbix-20231231_def.xml (EX-101.DEF) — 211KB
• vbix-20231231_lab.xml (EX-101.LAB) — 426KB
• vbix-20231231_pre.xml (EX-101.PRE) — 347KB
• form10-k_htm.xml (XML) — 1241KB

RISK FACTORS

RISK FACTORS 24 ITEM 1B. UNRESOLVED STAFF COMMENTS 43 ITEM 1C. CYBERSECURITY 43 ITEM 2.

PROPERTIES

PROPERTIES 44 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 45 ITEM 4. MINE SAFETY DISCLOSURES 45 PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASE OF EQUITY 45 ITEM 6. [RESERVED] 49 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND PLAN OF OPERATION

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND PLAN OF OPERATION 49 ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK 54 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA F-1 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 55 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 55 ITEM 9B. OTHER INFORMATION 56 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 56 PART III ITEM 10. DIRECTORS EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 56 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 59 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 62 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE 63 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 64 PART IV ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 65 2 Cautionary 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. The Registrant has based these forward-looking statements on its current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about the Registrant that may cause its actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "could", "would", "expect", "plan", "anticipate", "believe", "estimate", "continue", or the negative of such terms or other similar expressions. Factors that might cause or contribute to such a discrepancy include, but are not limited to, those described in this Annual Report on Form 10-K and in the Registrant's other Securities and Exchange Commission (the "SEC") filings. As used in this Annual Report and unless otherwise indicated, the terms "Viewbix," "we," "us," "our," or "our Company" refer to Viewbix Inc. Unless otherwise specified, all dollar amounts are expressed in United States dollars. PART I ITEM 1. DESCRIPTION OF BUSINESS Overview and Recent Developments Viewbix Inc. (the "Registrant", "Viewbix" or the "Company") was incorporated in the State of Delaware on August 16, 1985,

Business

Business Model The Search and Content Platform are operated through two models, direct and indirect: Direct Model Gix Media operates its Search Platform using a direct model whereby it refers searches that are conducted by users of its products, which are thereafter distributed to Search Engines directly by Gix Media. Additionally, through the direct model Gix Media refers user traffic to the Search Engines and/or website publishers by purchasing advertising space on leading publishing websites around the world using content recommendation companies such as Taboola and Outbrain, such that user traffic referred by it to the Search Engines and/or website publishers is created by users on the websites where the ad is displayed. The revenues generated by Gix Media from the Search Platform applying this model, constituted approximately 20% and 7% of the total revenues of Gix Media for the fiscal year-ended December 31, 2023 and December 31, 2022, respectively. Cortex operates its Content Platform using the direct model through an Artificial Intelligence ("AI") based system developed by Cortex, which connects user traffic and advertisers (the end customers of Cortex) who advertise on the Cortex Websites through online, algorithmic, and customized advertising. See " Item 1. Description of Business – Business Overview – Products and Services – Content Platform" , for further information on the AI system and other systems devolved by Cortex. 8 The revenues generated by Cortex from the Content Platform are entirely from the direct model. Indirect Model Gix Media also operates its Search Platform using an indirect model, whereby it refers searches that are conducted by users of products developed by third party strategic partners (in contrast to users of its own products as conducted through the direct model), which are thereafter distributed to Search Engines by Gix Media. Gix Media engages with strategic partners who have similar products and allow these

View Full Filing

View this 10-K filing on SEC EDGAR