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

TL;DR

<b>OLB Group, Inc. has filed its 2023 annual report (10-K) with the SEC, detailing its financial performance and operations.</b>

AI Summary

OLB GROUP, INC. (OLB) filed a Annual Report (10-K) with the SEC on April 15, 2024. OLB Group, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company is incorporated in Delaware and its principal executive offices are located in New York, NY. OLB Group's common stock trades on The Nasdaq Capital Market under the symbol OLB. The company has submitted all required reports for the preceding 12 months and has been subject to filing requirements for the past 90 days. OLB Group has elected not to use the extended transition period for emerging growth companies.

Why It Matters

For investors and stakeholders tracking OLB GROUP, INC., this filing contains several important signals. This filing provides a comprehensive overview of OLB Group's financial health, operational status, and strategic direction for the fiscal year 2023, which is crucial for investors to assess the company's performance and future prospects. As a smaller reporting company and an emerging growth company, this 10-K filing is essential for understanding OLB Group's compliance with regulatory requirements and its disclosure obligations to the market.

Risk Assessment

Risk Level: medium — OLB GROUP, INC. shows moderate risk based on this filing. The company is classified as a smaller reporting company and an emerging growth company, indicating it may have less stringent disclosure requirements and potentially higher financial risk compared to larger, more established firms.

Analyst Insight

Investors should review the full 10-K filing to understand OLB Group's financial performance, risks, and strategic initiatives for 2023.

Key Numbers

• 2023 — Fiscal Year End (Fiscal year ended December 31, 2023)
• 10-K — Form Type (Annual Report Form Type)
• 001-39435 — SEC File Number (SEC File Number for OLB Group, Inc.)

Key Players & Entities

• OLB GROUP, INC. (company) — Filer name
• OLB (company) — Trading Symbol
• The Nasdaq Capital Market (company) — Exchange where common stock is registered
• Delaware (company) — State of incorporation
• New York, NY (company) — Principal executive offices location
• 20231231 (date) — Conformed period of report
• 20240415 (date) — Filed as of date

FAQ

Industry Context

OLB Group operates within the business services sector, providing payment processing and other financial technology solutions.

Regulatory Implications

The filing adheres to the reporting requirements of the Securities Exchange Act of 1934, specifically Section 13 or 15(d).

What Investors Should Do

1. Review the full 10-K for detailed financial statements and management discussion.
2. Analyze the company's risk factors section for potential business challenges.
3. Assess the company's classification as a smaller reporting and emerging growth company in relation to its financial disclosures.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K filing.
• 2024-04-15: Filing Date — Date the 10-K report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing of the 10-K for the fiscal year 2023, following the previous year's filings.

Key Financial Figures

• $0.0001 — ange on which registered Common Stock, $0.0001 par value OLB The Nasdaq Capital Market
• $0.91 — 911 non affiliate shares outstanding at $0.91 per share, which is the price at which
• $1 million — ough a crowdfunding offering of between $1 million and $50 million pursuant to Regulation
• $50 million — ding offering of between $1 million and $50 million pursuant to Regulation CF under Title I
• $5.3 million — te purchase price for Crowd Ignition of $5.3 million. Crowd Ignition is a web-based crowdfu
• $1.07 million — ing raising the crowdfunding limit from $1.07 million to $5.0 million. Crowd Ignition is one
• $5.0 million — rowdfunding limit from $1.07 million to $5.0 million. Crowd Ignition is one of only about 50
• $408,000.00 — unty, Tennessee for a purchase price of $408,000.00. DMINT established a Bitcoin mining dat
• $10 billion — ing in the United States with assets of $10 billion or more at the sum of $0.21 per transac
• $0.21 — ts of $10 billion or more at the sum of $0.21 per transaction and an ad valorem compo
• $0.01 — , for qualifying issuers, an additional $0.01 per transaction in debit interchange fo
• $10 — t minimum dollar amounts (not to exceed $10) for the acceptance of a credit card (w

Filing Documents

• ea0203587-10k_olbgroup.htm (10-K) — 1237KB
• ea020358701ex4-5_olbgroup.htm (EX-4.5) — 26KB
• ea020358701ex10-33_olbgroup.htm (EX-10.33) — 13KB
• ea020358701ex31-1_olbgroup.htm (EX-31.1) — 10KB
• ea020358701ex31-2_olbgroup.htm (EX-31.2) — 10KB
• ea020358701ex32-1_olbgroup.htm (EX-32.1) — 8KB
• ea020358701ex97-1_olbgroup.htm (EX-97.1) — 26KB
• image_001.jpg (GRAPHIC) — 3KB
• image_002.jpg (GRAPHIC) — 6KB
• image_003.jpg (GRAPHIC) — 30KB
• image_004.jpg (GRAPHIC) — 24KB
• image_005.jpg (GRAPHIC) — 16KB
• image_006.jpg (GRAPHIC) — 26KB
• image_007.jpg (GRAPHIC) — 23KB
• image_008.jpg (GRAPHIC) — 17KB
• 0001213900-24-032767.txt (&nbsp;) — 7659KB
• olb-20231231.xsd (EX-101.SCH) — 75KB
• olb-20231231_cal.xml (EX-101.CAL) — 53KB
• olb-20231231_def.xml (EX-101.DEF) — 368KB
• olb-20231231_lab.xml (EX-101.LAB) — 634KB
• olb-20231231_pre.xml (EX-101.PRE) — 368KB
• ea0203587-10k_olbgroup_htm.xml (XML) — 748KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 11 Item 1B. Unresolved Staff Comments 43 Item 1C. Cybersecurity 43 Item 2. Property 44 Item 3.

Legal Proceedings

Legal Proceedings 44 Item 4. Mine Safety Disclosures 44 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 45 Item 6. [Reserved] 45 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operation

Management's Discussion and Analysis of Financial Condition and Results of Operation 45 Item 7A. Quantitative and Qualitative Disclosure About Market Risk 48 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 49 Item 9A.

Controls and Procedures

Controls and Procedures 49 Item 9B. Other Information 50 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 50 PART III Item 10. Directors, Executive Officers and Corporate Governance 51 Item 11.

Executive Compensation

Executive Compensation 55 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 59 Item 13. Certain Relationships and Related Transactions, and Director Independence 60 Item 14. Principal Accountant Fees and Services 61 PART IV Item 15. Exhibits, and Financial Statement Schedules 62 Item 16 Form 10-K Summary 63

Signatures

Signatures 64 i PART I

Forward-Looking Statements

Forward-Looking Statements Unless the context indicates otherwise, as used in this Annual Report, the terms "OLB," "we," "us," "our," "our company" and "our business" refer, to The OLB Group, Inc., including its subsidiaries named herein. Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are "forward-looking statements." These forward-looking "estimates," "intends," "strategy," "plan," "may," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on our operations and future prospects include, but are not limited to: changes in economic conditions, legislative/regulatory changes, availability of capital, interest rates, competition, and generally accepted accounting principles. These risks and uncertainties should also be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Overview We are a FinTech company that focuses on a suite of products in the merchant services marketplace and seeks to provide integrated business solutions to merchants throughout the United States. We seek to provide merchants with a wide range of products and services through our various online platforms, including financial and transaction processing services. We also have products that provide support for crowdfunding and other capital raising in

View Full Filing

View this 10-K filing on SEC EDGAR