General Enterprise Ventures, Inc. Files 2023 Annual Report

Ticker: CITR · Form: 10-K · Filed: Apr 15, 2024 · CIK: 894556

Sentiment: neutral

Topics: 10-K, Annual Report, General Enterprise Ventures, Hazardous Waste Management, Financial Filing

TL;DR

<b>General Enterprise Ventures, Inc. has filed its 2023 10-K report, detailing its operations in hazardous waste management.</b>

AI Summary

General Enterprise Ventures, Inc. (CITR) filed a Annual Report (10-K) with the SEC on April 15, 2024. General Enterprise Ventures, Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The company's SIC code is 4955 for Hazardous Waste Management. Incorporated in Wyoming, the company's principal business address is in Cheyenne, WY. The filing covers the period from January 1, 2023, to December 31, 2023. Previous company names include General Entertainment Ventures, Inc. and General Environmental Ventures, Inc.

Why It Matters

For investors and stakeholders tracking General Enterprise Ventures, Inc., this filing contains several important signals. This filing provides a comprehensive overview of the company's financial performance and operational status for the fiscal year 2023, crucial for investors and stakeholders to assess its current standing. Understanding the company's historical name changes and its SIC code provides context for its business evolution and industry classification.

Risk Assessment

Risk Level: low — General Enterprise Ventures, Inc. shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate indicators of significant financial distress or unusual risk events.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand the company's performance and potential challenges.

Key Numbers

Key Players & Entities

FAQ

When did General Enterprise Ventures, Inc. file this 10-K?

General Enterprise Ventures, Inc. filed this Annual Report (10-K) with the SEC on April 15, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by General Enterprise Ventures, Inc. (CITR).

Where can I read the original 10-K filing from General Enterprise Ventures, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by General Enterprise Ventures, Inc..

What are the key takeaways from General Enterprise Ventures, Inc.'s 10-K?

General Enterprise Ventures, Inc. filed this 10-K on April 15, 2024. Key takeaways: General Enterprise Ventures, Inc. filed its 10-K report for the fiscal year ending December 31, 2023.. The company's SIC code is 4955 for Hazardous Waste Management.. Incorporated in Wyoming, the company's principal business address is in Cheyenne, WY..

Is General Enterprise Ventures, Inc. a risky investment based on this filing?

Based on this 10-K, General Enterprise Ventures, Inc. presents a relatively low-risk profile. The filing is a standard annual report (10-K) and does not contain immediate indicators of significant financial distress or unusual risk events.

What should investors do after reading General Enterprise Ventures, Inc.'s 10-K?

Review the detailed financial statements and risk factors within the 10-K to understand the company's performance and potential challenges. The overall sentiment from this filing is neutral.

How does General Enterprise Ventures, Inc. compare to its industry peers?

The company operates within the Hazardous Waste Management industry, classified under SIC code 4955.

Are there regulatory concerns for General Enterprise Ventures, Inc.?

The filing is made in accordance with the Securities Exchange Act of 1934.

Industry Context

The company operates within the Hazardous Waste Management industry, classified under SIC code 4955.

Regulatory Implications

The filing is made in accordance with the Securities Exchange Act of 1934.

What Investors Should Do

  1. Analyze the full 10-K document for detailed financial statements and management discussion.
  2. Research the company's history, including name changes and previous operations.
  3. Investigate the specific services offered under the Hazardous Waste Management SIC code.

Key Dates

Year-Over-Year Comparison

This is the initial filing analyzed, so no comparison to a previous filing is available.

Filing Stats: 4,572 words · 18 min read · ~15 pages · Grade level 12.3 · Accepted 2024-04-15 15:32:19

Key Financial Figures

Filing Documents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS 3 PART I Item 1. Business. 3 Item 1A. Risk Factors. 7 Item 1B. Unresolved Staff Comments. 9 Item 1C. Cybersecurity. 9 Item 2. Properties. 9 Item 3. Legal Proceedings. 9 Item 4. Mine Safety Disclosures. 9 PART II Item 5. Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. 10 Item 6. [Reserved] 11 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. 11 Item 7A.

Quantitative And Qualitative Disclosures About Market Risk

Quantitative And Qualitative Disclosures About Market Risk. 15 Item 8.

Financial Statements and Supplemental Data

Financial Statements and Supplemental Data. 16 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure. 17 Item 9A.

Controls and Procedures

Controls and Procedures. 17 Item 9B. Other Information. 18 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 18 PART III Item 10. Directors, Executive Officers and Corporate Governance. 19 Item 11.

Executive Compensation

Executive Compensation. 22 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. 23 Item 13. Certain Relationships and Related Transactions, and Director Independence. 24 Item 14. Principal Accountant Fees and Services. 25 PART IV Item 15. Exhibit and Financial Statement Schedules. 27 Item 16. Form 10-K Summary. 27

SIGNATURES

SIGNATURES 28 2 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This report contains forward-looking statements. The Securities and Exchange Commission encourages companies to disclose forward-looking information so that investors can better understand a company's future prospects and make informed investment decisions. This report and other written and oral statements that we make from time to time contain such forward-looking statements that set out anticipated results based on management's plans and assumptions regarding future events or performance. We have tried, wherever possible, to identify such statements by using words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "will" and similar expressions in connection with any discussion of future operating or financial performance. In particular, these include statements relating to future actions, future performance or results of current and anticipated sales efforts, expenses, the outcome of contingencies, such as legal proceedings, and financial results. We caution that the factors described herein, and other factors could cause our actual results of operations and financial condition to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any for

Business

Item 1. Business. General Enterprise Ventures, Inc., ("GEVI," "we," "us," or the "Company") was originally incorporated in Nevada on March 14, 1990. Our offices are located at 1740H Del Range Blvd., Suite 166, Cheyenne, Wyoming 82009. Our telephone number is (800) 401-4535. Our website is www.generalenterpriseventures.com and www.mightyfirebreaker.com. We do not incorporate the information on or accessible through our website into this Registration Statement, and you should not consider any information on, or that can be accessed through, our website a part of this Registration Statement. We are an environmentally sustainable flame retardant and flame suppression company for the residential home industry throughout the United States and international markets. Management is experienced at business integration and branding potential. The Company is bringing to the marketplace unique, disruptive products with significant environmental impact potential. We operate one line of business. The Company acquired Mighty Fire Breaker, LLC on April 13, 2022, and formed Mighty Fire Breaker UK Ltd. on November 14, 2022 (collectively, "MFB"). MFB owns 39 patents and patents pending for environmentally sustainable flame retardant and flame suppression industry. MFB's products are currently being sold to fire departments in the State of California. Our management is comprised of three individuals, Joshua Ralston, who acts as our President, Chief Executive officer, Chief Financial Officer and Chairman of the Board of Directors, John Costa who serves on the Board of Directors, and Jeffery Pomerantz, who serves on the Board of Directors. It should also be noted that Mr. Ralston has sufficient voting power through his ownership of Series A Preferred Stock with super voting rights to control the vote on substantially all corporate matters. 3 Table of Contents Corporate History Ultronics Corporation (the "UC") was incorporated under the laws of the State of Nevada on March 14,

Risk Factors

Item 1A. Risk Factors. Risks Relating to Our Business Our results could be materially and adversely affected by the impact of the COVID-19 pandemic. A pandemic similar to COVID-19 could materially and adversely impact our business, including as a result of the loss of adequate labor, whether as a result of high absenteeism or challenges in recruiting and retention or otherwise, prolonged closures, or series of temporary closures, of one or more fulfillment centers as a result of a COVID-19 type of outbreak, a government order or otherwise, or supply chain or carrier interruptions or delays. Further, a COVID-19 type pandemic could have a negative impact on economic conditions, which may adversely impact consumer demand for our products, which may have a material adverse effect on our business, financial condition, and operating results. To the extent any of these events occur, our business, financial condition, and operating results could be materially and adversely affected. The extent to which a COVID-19 type pandemic impacts our business will depend on future developments not within our control, including the duration and severity of a COVID-19 type pandemic and surges, the timing of widespread availability of a vaccine in the United States, the length of time restrictions stay in effect and for economic and operating conditions to return to pre-pandemic levels, together with resulting consumer behaviors, and numerous other uncertainties, all of which remain uncertain. The unavailability and incapacity of Mr. Ralston, Mr. Costa and Mr. Pomerantz, our executive officers and directors, due to a COVID-19 type pandemic would have a material adverse effect of our business. Because we have a limited operating history, it is difficult for potential investors to evaluate our business. Our limited operating history makes it difficult for potential investors to evaluate our business or prospective operations. Since our formation in March of 1990, we have not genera

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