Veritec Inc (VRTC) financial statements (2021 and earlier)

Company profile

Business Address 1163 KURSE ST
WEST ST PAUL, MN 55118
State of Incorp. NV
Fiscal Year End June 30
SIC 3679 - Electronic Components, Not Elsewhere Classified (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2020
TTM
6/30/2020
6/30/2019
6/30/2018
6/30/2017
6/30/2016
6/30/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments18922891139476153
Cash and cash equivalents18922891139476153
Receivables8      
Inventory, net of allowances, customer advances and progress billings      14
Inventory      14
Prepaid expense56552218
Other undisclosed current assets 10978939
Total current assets:2022441061515772124
Noncurrent Assets
Property, plant and equipment     01
Intangible assets, net (including goodwill)    1680144
Intangible assets, net (excluding goodwill)    1680144
Other undisclosed noncurrent assets      63
Total noncurrent assets:    1680208
TOTAL ASSETS:20224410615173153332
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities7687597807357201,0401,107
Accounts payable711689717671648624630
Accrued liabilities57706364727523
Employee-related liabilities     239453
Interest and dividends payable     102 
Deferred revenue50 
Debt519508654 5752,0332,513
Derivative instruments and hedges, liabilities    728  
Due to related parties5,0979610096969696
Customer advances and deposits  2525
Other undisclosed current liabilities 4,5753,7153,6272,366371,542
Total current liabilities:6,4345,9385,2504,4584,4863,2315,284
Noncurrent Liabilities
Liabilities, other than long-term debt155      
Business combination, contingent consideration, liability155      
Other undisclosed noncurrent liabilities 155155155155155155
Total noncurrent liabilities:155155155155155155155
Total liabilities:6,5896,0935,4054,6134,6413,3865,439
Commitments and contingencies     144 
Stockholders' equity
Stockholders' equity attributable to parent, including:(6,387)(5,849)(5,299)(4,461)(4,568)(3,233)(5,106)
Preferred stock1111111
Common stock397397395395395395165
Additional paid in capital18,13618,13618,11118,10017,97517,94014,959
Accumulated deficit(24,933)(24,395)(23,819)(22,970)(22,951)(21,582)(20,284)
Other undisclosed stockholders' equity attributable to parent12121313131352
Other undisclosed stockholders' equity     (144) 
Total stockholders' equity:(6,387)(5,849)(5,299)(4,461)(4,568)(3,378)(5,106)
TOTAL LIABILITIES AND EQUITY:20224410615173153332

Income statement (P&L) ($ in thousands)

12/31/2020
TTM
6/30/2020
6/30/2019
6/30/2018
6/30/2017
6/30/2016
6/30/2015
Revenues425438307498326681946
Revenue, net  134508
Revenue from related parties330338187377
Financial services revenue 153478438
Cost of revenue
(Cost of Goods and Services Sold)
(211)(210)(230)(247)(261)(323)(330)
Gross profit:2142287725165358616
Operating expenses(778)(630)(624)(635)(913)(943)(1,072)
Other operating expense, net
(Other Expenses)
    (586) (499)
Other undisclosed operating income   16650147548
Operating loss:(564)(402)(547)(368)(784)(438)(408)
Nonoperating income (expense)(366)(174)(302)  135 
Debt instrument, convertible, beneficial conversion feature     135 
Other nonoperating expense(366)(174)(302)    
Interest and debt expense(533)(341)(302)(253)(404)(271)(499)
Loss before gain (loss) on sale of properties:(1,463)(917)(1,152)(621)(1,188)(574)(907)
Other undisclosed net income99      
Net loss:(1,364)(917)(1,152)(621)(1,188)(574)(907)
Other undisclosed net income (loss) attributable to parent434341302603(181)(724)(0)
Net loss attributable to parent:(930)(576)(849)(18)(1,370)(1,298)(907)
Other undisclosed net income available to common stockholders, basic      0
Net loss available to common stockholders, basic:(930)(576)(849)(18)(1,370)(1,298)(907)
Dilutive securities, effect on basic earnings per share      22,093
Net income (loss) available to common stockholders, diluted:(930)(576)(849)(18)(1,370)(1,298)21,186

Comprehensive Income ($ in thousands)

12/31/2020
TTM
6/30/2020
6/30/2019
6/30/2018
6/30/2017
6/30/2016
6/30/2015
Net loss:(1,364)(917)(1,152)(621)(1,188)(574)(907)
Comprehensive loss, net of tax, attributable to parent:(1,364)(917)(1,152)(621)(1,188)(574)(907)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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