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

TL;DR

<b>Appyea, Inc. has submitted its 2023 10-K filing, detailing financial performance and corporate information.</b>

AI Summary

APPYEA, INC (APYP) filed a Annual Report (10-K) with the SEC on April 1, 2024. Appyea, Inc. filed its annual report on Form 10-K for the fiscal year ending December 31, 2023. The company is incorporated in South Dakota and operates in the Services-Computer Programming Services sector. Key addresses include 16 Natan Alterman St, Gan Yavne, L3, 7085118 for business and 447 Broadway, New York, NY, 10013 for mail. The filing covers financial data for the fiscal years 2021, 2022, and 2023. Specific financial statement components like Preferred Stock, Common Stock, Additional Paid-In Capital, and Retained Earnings are detailed for these years.

Why It Matters

For investors and stakeholders tracking APPYEA, INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Appyea, Inc.'s financial health and operational status for the fiscal year 2023, crucial for investors and stakeholders to assess performance and future outlook. The detailed financial data, including equity and retained earnings, allows for a year-over-year comparison, highlighting trends and stability within the company's capital structure.

Risk Assessment

Risk Level: low — APPYEA, INC shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate red flags or urgent disclosures, indicating a routine update of company information.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Appyea, Inc.'s financial position and potential challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reported fiscal year end)
• 2024-04-01 — Filing Date (Date of filing)
• 7371 — SIC Code (Standard Industrial Classification code)
• SD — State of Incorporation (State where the company is incorporated)

Key Players & Entities

• APPYEA, INC (company) — Filer name
• APYP (company) — Ticker symbol
• 10-K (document) — Form type
• 2024-04-01 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end
• 16 NATAN ALTERMAN ST (address) — Business street address
• GAN YAVNE (address) — Business city
• 447 BROADWAY (address) — Mail street address

FAQ

Industry Context

Appyea, Inc. operates within the Services-Computer Programming Services industry, a sector characterized by software development, IT consulting, and related services.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures to the SEC.

What Investors Should Do

1. Analyze the detailed financial statements for revenue, net income, and balance sheet items for FY2023.
2. Review any disclosed risk factors to understand potential business challenges.
3. Compare key financial metrics with previous years (2021, 2022) to identify trends.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-04-01: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year ending December 31, 2023, providing a baseline for future comparisons.

Key Financial Figures

• $0.0001 — ction 12(g) of the Act: Common Stock, $0.0001 per share (Title of class) Indicate
• $0.0090 — ed by reference to the closing price of $0.0090 of such common stock on the OTC Markets
• $20,000 — License Agreement (i.e., March 2025) of $20,000, and thereafter on each anniversary dat
• $60,000 — year. 6 (iv) Milestone payment of $60,000 upon the attainment of regulatory appro

Filing Documents

• form10-k.htm (10-K) — 1922KB
• ex21.htm (EX-21) — 1KB
• ex23-1.htm (EX-23.1) — 1KB
• ex31-1.htm (EX-31.1) — 12KB
• ex31-2.htm (EX-31.2) — 12KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• form10-k_001.jpg (GRAPHIC) — 7KB
• ex21_001.jpg (GRAPHIC) — 40KB
• ex23-1_001.jpg (GRAPHIC) — 107KB
• 0001493152-24-012283.txt (&nbsp;) — 7888KB
• apyp-20231231.xsd (EX-101.SCH) — 52KB
• apyp-20231231_cal.xml (EX-101.CAL) — 53KB
• apyp-20231231_def.xml (EX-101.DEF) — 216KB
• apyp-20231231_lab.xml (EX-101.LAB) — 418KB
• apyp-20231231_pre.xml (EX-101.PRE) — 336KB
• form10-k_htm.xml (XML) — 1209KB

RISK FACTORS

ITEM 1A. RISK FACTORS 16

UNRESOLVED STAFF COMMENTS

ITEM 1B. UNRESOLVED STAFF COMMENTS 34

CYBERSECURITY

ITEM 1C. CYBERSECURITY 34

PROPERTIES

ITEM 2. PROPERTIES 34

LEGAL PROCEEDINGS

ITEM 3. LEGAL PROCEEDINGS 34

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 35 PART II

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 35

RESERVED

ITEM 6. RESERVED 36

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 36

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 43

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 43

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 43

CONTROLS AND PROCEDURES

ITEM 9A. CONTROLS AND PROCEDURES 43

OTHER INFORMATION

ITEM 9B. OTHER INFORMATION 44

DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 44 PART III

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 44

EXECUTIVE COMPENSATION

ITEM 11. EXECUTIVE COMPENSATION 48

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 53

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 54

PRINCIPAL ACCOUNTANT FEES AND SERVICES

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 55 PART IV

EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 56

FORM 10-K SUMMARY

ITEM 16. FORM 10-K SUMMARY 56

SIGNATURES

SIGNATURES 57 2 FORWARD-LOOKING This annual report on Form 10-K for the year ended December 31, 2023, or this Annual Report on Form 10-K, contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, that involve risks and uncertainties, principally in the sections entitled "Business," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." All statements other than statements of historical fact contained in this Annual Report on Form 10-K, including statements regarding future events, our future financial performance, expectations for growth and revenues, anticipated timing and amounts of milestone and other payments under collaboration agreements, business strategy and plans, objectives of management for future operations, timing and outcome of legal and other proceedings and our ability to finance our operations are forward-looking statements. We have attempted to identify forward-looking statements by terminology including "anticipates," "approach," "believes," "can," "contemplate," "continue," "look forward," "ongoing," "could," "estimates," "expects," "intends," "may," "appears," "suggests," "future," "likely," "goal," "plans," "potential," "possibly," "projects," "predicts," "seek," "should," "target," "would" or "will" and other similar words or expressions or the negative of these terms or other comparable terminology. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. These statements are only predictions and involve known and unknown risks and uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements expressed or implied by these forward-looking statements, to

Business

Business Overview AppYea, Inc. is a digital health company, focused on the development of accurate wearable monitoring solutions to treat sleep apnea and snoring and fundamentally improve quality of life. Our solutions are based on our proprietary intellectual property portfolio comprised of Artificial Intelligence (AI) and sensing technologies for the tracking, analysis, and diagnosis of vital signs and other physical parameters during sleep time, offering extreme accuracy at affordable cost. AI is a broad term generally used to describe conditions where a machine mimics "cognitive" functions associated with human intelligence, such as "learning" and "problem solving. Basic AI includes machine learning, where a machine uses algorithms to parse data, learn from it, and then make a determination or prediction about a given phenomenon. The machine is "trained" using large amounts of data and algorithms that provide it with the ability to learn how to perform the task. General Background Snoring is a general disorder caused due to repetitive collapsing and narrowing of the upper airway. Individuals with snoring problems are at increased risk of accidental injury, depression and anxiety, heart disease and stroke. Currently available treatments include surgical and non-surgical devices. According to Fior Markets, a market intelligence company, the Global Anti-Snoring Treatment Market is expected to grow from USD 4.3 billion in 2020 to USD 8.6 billion by 2028, with a 9.07% CAGR between 2021 and 2028. While North America had the largest market share of 28.12% in 2020, Asia-Pacific region is witnessing significant growth due to the increasing prevalence of obesity and sedentary lifestyles in emerging economies. Currently available anti-snoring devices consist mainly of oral appliances that are recommended for use by patients suffering from snoring or obstructive sleep apnea. These appliances are put before sleep and have a simple function of pushing either the

View Full Filing

View this 10-K filing on SEC EDGAR