$OVTZ

2021 Form 10-K Financial Statement

#000143774922006790 Filed on March 21, 2022

View on sec.gov

Income Statement

Concept 2021 2020 Q4 2020
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $430.7K $226.8K $266.6K
YoY Change 61.57% 623.28% 35.57%
% of Gross Profit
Research & Development $818.3K $254.3K
YoY Change 221.8%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $1.249M $350.9K $520.8K
YoY Change 139.79% 1019.01% 164.9%
Operating Profit -$1.987M -$2.773M
YoY Change -28.35% 1310.11%
Interest Expense $0.00 $0.00 $100.00
YoY Change -100.0% -100.0% -77.78%
% of Operating Profit
Other Income/Expense, Net $0.00 $96.00
YoY Change -100.0% -97.44%
Pretax Income -$1.987M -$2.318M -$2.772M
YoY Change -28.34% 8213.7% 1337.49%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.987M -$2.318M -$2.772M
YoY Change -28.34% 8212.98% 1337.53%
Net Earnings / Revenue
Basic Earnings Per Share -$0.02
Diluted Earnings Per Share -$22.08K -$34.63K -$36.79K
COMMON SHARES
Basic Shares Outstanding 89.97M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 2020 Q4 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.208M $490.2K $490.2K
YoY Change 350.53% 28.17% 28.17%
Cash & Equivalents $2.208M $490.2K $490.2K
Short-Term Investments
Other Short-Term Assets $28.14K $6.080K $6.080K
YoY Change 362.83% 378.74% 378.74%
Inventory
Prepaid Expenses $1.030K
Receivables
Other Receivables
Total Short-Term Assets $2.246M $496.3K $496.3K
YoY Change 352.63% 29.33% 29.33%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $2.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $2.246M $496.3K $496.3K
Total Long-Term Assets $0.00 $2.00 $0.00
Total Assets $2.246M $496.3K $496.3K
YoY Change 352.63% 29.33% 29.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $61.84K $16.67K $32.33K
YoY Change 91.28% 230.23% 495.4%
Accrued Expenses $34.36K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $122.6K $168.1K $168.1K
YoY Change -27.04% 24.11% 24.11%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $122.6K $168.1K $168.1K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $122.6K $168.1K $168.1K
YoY Change -27.04% 24.11% 24.11%
SHAREHOLDERS EQUITY
Retained Earnings -$44.16M
YoY Change 6.7%
Common Stock $43.79M
YoY Change 5.17%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.124M $328.2K $328.2K
YoY Change
Total Liabilities & Shareholders Equity $2.246M $496.3K $496.3K
YoY Change 352.63% 29.33% 29.33%

Cashflow Statement

Concept 2021 2020 Q4 2020
OPERATING ACTIVITIES
Net Income -$1.987M -$2.318M -$2.772M
YoY Change -28.34% 8212.98% 1337.53%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$1.350M -$205.7K -$779.5K
YoY Change 73.22% 575.59% -2.54%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $114.2K
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00 $114.2K
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.099M $773.0K
YoY Change 300.84% -34.3%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $3.062M 0.000 $773.0K
YoY Change 296.13% -34.3%
NET CHANGE
Cash From Operating Activities -$1.350M -205.7K -$779.5K
Cash From Investing Activities $0.00 0.000 $114.2K
Cash From Financing Activities $3.062M 0.000 $773.0K
Net Change In Cash $1.718M -205.7K $107.7K
YoY Change 1494.85% 575.59% -71.41%
FREE CASH FLOW
Cash From Operating Activities -$1.350M -$205.7K -$779.5K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Significant judgments, estimates and assumptions</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The preparation of financial statements in accordance with U.S. GAAP requires management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the period. These judgments, estimates and assumptions are regularly evaluated and are based on management’s experience and knowledge of the relevant facts and circumstances. While management believes the estimates to be reasonable, actual results could differ from those estimates and could impact future results of operations and cash flows.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The areas which require significant judgment and estimates that management has made at the financial reporting date, that could result in a material change to the carrying amounts of assets and liabilities, in the event actual results differ from the assumptions made, relate to, but are <em style="font: inherit;">not</em> limited to the following:</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><span style="text-decoration: underline; ">Significant judgments</span></p> <table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;"><tbody><tr style="vertical-align: top;"><td style="width: 27pt;"> </td><td style="width: 18pt;"> <p style="font-family: Times New Roman;font-size: 10pt;font-variant:normal;margin:0pt;">●</p> </td><td style="width: auto;"> <p style="font-family: Times New Roman;font-size: 10pt;font-variant:normal;margin:0pt;">the determination of functional currencies; and</p></td></tr> </tbody></table>
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