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)
| 12/31/2019 TTM | 6/30/2019 | 6/30/2018 | 6/30/2017 | 6/30/2016 | 6/30/2015 | 6/30/2014 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 167 | 91 | 139 | 47 | 61 | 53 | 25 | ||
| Cash and cash equivalents | 167 | 91 | 139 | 47 | 61 | 53 | 25 | ||
| Receivables | (13) | ||||||||
| Inventory, net of allowances, customer advances and progress billings | 14 | (16) | |||||||
| Inventory | 14 | (16) | |||||||
| Prepaid expense | 6 | 5 | 5 | 2 | 2 | 18 | 17 | ||
| Other undisclosed current assets | 10 | 9 | 7 | 8 | 9 | 39 | 108 | ||
| Total current assets: | 183 | 106 | 151 | 57 | 72 | 124 | 120 | ||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 0 | 1 | 1 | ||||||
| Intangible assets, net (including goodwill) | 16 | 80 | 144 | ✕ | |||||
| Intangible assets, net (excluding goodwill) | 16 | 80 | 144 | ||||||
| Other undisclosed noncurrent assets | 63 | 52 | |||||||
| Total noncurrent assets: | 16 | 80 | 208 | 53 | |||||
| TOTAL ASSETS: | 183 | 106 | 151 | 73 | 153 | 332 | 173 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 745 | 780 | 735 | 720 | 1,040 | 1,107 | 1,184 | ||
| Accounts payable | 675 | 717 | 671 | 648 | 624 | 630 | 541 | ||
| Accrued liabilities | 69 | 63 | 64 | 72 | 75 | 23 | 104 | ||
| Employee-related liabilities | 239 | 453 | 539 | ||||||
| Interest and dividends payable | 102 | ||||||||
| Debt | 498 | 654 | 575 | 2,033 | 2,513 | 493 | |||
| Derivative instruments and hedges, liabilities | 728 | ||||||||
| Due to related parties | 96 | 100 | 96 | 96 | 96 | 96 | 2,728 | ||
| Customer advances and deposits | ✕ | ✕ | 25 | 25 | 91 | ||||
| Other undisclosed current liabilities | 4,163 | 3,715 | 3,627 | 2,366 | 37 | 1,542 | 259 | ||
| Total current liabilities: | 5,501 | 5,250 | 4,458 | 4,486 | 3,231 | 5,284 | 4,755 | ||
| Noncurrent Liabilities | |||||||||
| Other undisclosed noncurrent liabilities | 155 | 155 | 155 | 155 | 155 | 155 | |||
| Total noncurrent liabilities: | 155 | 155 | 155 | 155 | 155 | 155 | |||
| Total liabilities: | 5,656 | 5,405 | 4,613 | 4,641 | 3,386 | 5,439 | 4,755 | ||
| Commitments and contingencies | 144 | ||||||||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent, including: | (5,473) | (5,299) | (4,461) | (4,568) | (3,233) | (5,106) | 4,582 | ||
| Preferred stock | 1 | 1 | 1 | 1 | 1 | 1 | 1 | ||
| Common stock | 395 | 395 | 395 | 395 | 395 | 165 | 159 | ||
| Additional paid in capital | 18,121 | 18,111 | 18,100 | 17,975 | 17,940 | 14,959 | 14,594 | ||
| Retained earnings (accumulated deficit) | (24,003) | (23,819) | (22,970) | (22,951) | (21,582) | (20,284) | 4,635 | ||
| Other undisclosed stockholders' equity attributable to parent | 13 | 13 | 13 | 13 | 13 | 52 | (14,807) | ||
| Other undisclosed stockholders' equity | (144) | ||||||||
| Total stockholders' equity: | (5,473) | (5,299) | (4,461) | (4,568) | (3,378) | (5,106) | 4,582 | ||
| Other undisclosed liabilities and equity | (9,164) | ||||||||
| TOTAL LIABILITIES AND EQUITY: | 183 | 106 | 151 | 73 | 153 | 332 | 173 | ||
Income statement (P&L) ($ in thousands)
| 12/31/2019 TTM | 6/30/2019 | 6/30/2018 | 6/30/2017 | 6/30/2016 | 6/30/2015 | 6/30/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 379 | 307 | 498 | 326 | 681 | 946 | 1,635 | |
| Revenue, net | ✕ | ✕ | 134 | 508 | 2 | |||
| Revenue from related parties | 269 | 187 | 377 | ✕ | ✕ | ✕ | ✕ | |
| Financial services revenue | ✕ | ✕ | 153 | 478 | 438 | |||
| Cost of revenue (Cost of Goods and Services Sold) | (222) | (230) | (247) | (261) | (323) | (330) | (345) | |
| Gross profit: | 158 | 77 | 251 | 65 | 358 | 616 | 1,290 | |
| Operating expenses | (609) | (624) | (635) | (913) | (943) | (1,072) | (799) | |
| Other operating expense, net (Other Expenses) | (586) | (499) | (189) | |||||
| Other undisclosed operating income | 221 | 16 | 650 | 147 | 548 | |||
| Operating income (loss): | (230) | (547) | (368) | (784) | (438) | (408) | 302 | |
| Nonoperating income (expense) | (156) | (302) | 135 | |||||
| Debt instrument, convertible, beneficial conversion feature | 135 | |||||||
| Other nonoperating expense | (156) | (302) | ||||||
| Interest and debt expense | (166) | (302) | (253) | (404) | (271) | (499) | (189) | |
| Net income (loss): | (552) | (1,152) | (621) | (1,188) | (574) | (907) | 113 | |
| Other undisclosed net income (loss) attributable to parent | (56) | 302 | 603 | (181) | (724) | (0) | 189 | |
| Net income (loss) attributable to parent: | (608) | (849) | (18) | (1,370) | (1,298) | (907) | 302 | |
| Other undisclosed net income available to common stockholders, basic | 0 | |||||||
| Net income (loss) available to common stockholders, basic: | (608) | (849) | (18) | (1,370) | (1,298) | (907) | 302 | |
| Dilutive securities, effect on basic earnings per share | 22,093 | 3,057 | ||||||
| Net income (loss) available to common stockholders, diluted: | (608) | (849) | (18) | (1,370) | (1,298) | 21,186 | 3,359 | |
Comprehensive Income ($ in thousands)
| 12/31/2019 TTM | 6/30/2019 | 6/30/2018 | 6/30/2017 | 6/30/2016 | 6/30/2015 | 6/30/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (552) | (1,152) | (621) | (1,188) | (574) | (907) | 113 | |
| Comprehensive income (loss), net of tax, attributable to parent: | (552) | (1,152) | (621) | (1,188) | (574) | (907) | 113 | |
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.