$OVTZ
OCULUS VISIONTECH INC.

2024 Q3 Form 10-Q Financial Statement

#000143774924026305 Filed on August 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $51.60K $46.06K $48.87K
YoY Change -34.73% -5.76% -81.19%
% of Gross Profit
Research & Development $1.455K $2.551K $4.734K
YoY Change -68.53% -46.11% -98.33%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $53.05K $48.61K $53.60K
YoY Change -36.6% -9.32% -90.14%
Operating Profit
YoY Change
Interest Expense $198.00 $672.00 $3.191K
YoY Change -93.59% -78.94%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$79.97K -$120.3K
YoY Change -33.5% -77.89%
Income Tax
% Of Pretax Income
Net Earnings -$69.14K -$79.97K -$120.3K
YoY Change -50.79% -33.5% -77.89%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 91.42M 91.42M 91.42M
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.71K $333.9K
YoY Change -91.1% -76.56%
Cash & Equivalents $3.486K $29.71K $333.9K
Short-Term Investments
Other Short-Term Assets $7.420K $7.590K
YoY Change -2.24% -55.35%
Inventory
Prepaid Expenses $3.125K $7.421K $7.586K
Receivables
Other Receivables
Total Short-Term Assets $44.89K $342.8K
YoY Change -86.9% -76.36%
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 -$2.00 -$3.00
YoY Change -33.33%
TOTAL ASSETS
Total Short-Term Assets $44.89K $342.8K
Total Long-Term Assets -$2.00 -$3.00
Total Assets $16.61K $44.89K $342.8K
YoY Change -93.28% -86.9% -76.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $80.76K $183.2K
YoY Change -55.91% 20.15%
Accrued Expenses $15.26K $11.92K
YoY Change 28.02% -70.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $333.4K $292.2K $221.5K
YoY Change 31.58% 31.92% 0.87%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $333.4K $292.2K $221.5K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $292.2K $221.5K
YoY Change 31.92% 0.87%
SHAREHOLDERS EQUITY
Retained Earnings -$48.62M -$48.55M -$48.15M
YoY Change 0.68% 0.83%
Common Stock $46.85M $46.85M $46.85M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$316.7K -$247.3K $121.3K
YoY Change
Total Liabilities & Shareholders Equity $16.61K $44.89K $342.8K
YoY Change -93.28% -86.9% -76.36%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$69.14K -$79.97K -$120.3K
YoY Change -50.79% -33.5% -77.89%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$65.15K -$197.1K
YoY Change -66.94% -44.69%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities -65.15K -197.1K
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash -65.15K -197.1K
YoY Change -66.94% -44.69%
FREE CASH FLOW
Cash From Operating Activities -$65.15K -$197.1K
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="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;"><tbody><tr><td style="vertical-align:top;width:4.9%;"> </td><td style="vertical-align:top;width:3.3%;"> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">●</p> </td><td style="vertical-align:top;width:auto;"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">the determination of functional currencies</p> </td></tr> <tr><td style="vertical-align:top;width:4.9%;"> </td><td style="vertical-align:top;width:3.3%;"> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">●</p> </td><td style="vertical-align:top;width:auto;"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">share-based compensation and warrants issued in connection with private placements, using the fair value method. The Company uses the Black-Scholes option pricing model to determine the fair value of share-based compensation. This estimate also requires determining the most appropriate inputs to the valuation model. The main factor affecting the estimates of the fair value of stock options is the stock price, expected volatility used and the expected duration of the instrument. The Company currently estimates the expected volatility of its common shares based on historical stock price information.</p> </td></tr> </tbody></table> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5415000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.5
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
3850000
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0.36
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageIntrinsicValue
0
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1565000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.85
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
875000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
1.03
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageIntrinsicValue
0
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
690000
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.69
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
690000
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
670000
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
17400000
CY2023Q4 ovtz Class Of Warrant Or Right Outstanding Weighted Average Exercise Price
ClassOfWarrantOrRightOutstandingWeightedAverageExercisePrice
0.28
ovtz Class Of Warrant Or Right Expired During Period
ClassOfWarrantOrRightExpiredDuringPeriod
4900000
ovtz Class Of Warrant Or Right Expired During Period Weighted Average Exercise Price
ClassOfWarrantOrRightExpiredDuringPeriodWeightedAverageExercisePrice
1
CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
12500000
CY2024Q2 ovtz Class Of Warrant Or Right Outstanding Weighted Average Exercise Price
ClassOfWarrantOrRightOutstandingWeightedAverageExercisePrice
0.001
CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
12500000
CY2024Q2 ovtz Filing And Regulatory Fee
FilingAndRegulatoryFee
5869 usd
CY2023Q2 ovtz Filing And Regulatory Fee
FilingAndRegulatoryFee
5466 usd
ovtz Filing And Regulatory Fee
FilingAndRegulatoryFee
17316 usd
ovtz Filing And Regulatory Fee
FilingAndRegulatoryFee
18043 usd
CY2024Q2 us-gaap Professional Fees
ProfessionalFees
15614 usd
CY2023Q2 us-gaap Professional Fees
ProfessionalFees
12017 usd
us-gaap Professional Fees
ProfessionalFees
27299 usd
us-gaap Professional Fees
ProfessionalFees
26108 usd
CY2024Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
10711 usd
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
10838 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
21596 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
21651 usd
CY2024Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
13860 usd
CY2023Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
20549 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
27027 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
55845 usd
CY2024Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
46055 usd
CY2023Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
48870 usd
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
93239 usd
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
121647 usd
CY2024Q2 us-gaap Research And Development Expense Software Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost
2551 usd
CY2023Q2 us-gaap Research And Development Expense Software Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost
4734 usd
us-gaap Research And Development Expense Software Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost
4731 usd
us-gaap Research And Development Expense Software Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost
54499 usd
CY2024Q2 ovtz Research And Development Expense Business Development
ResearchAndDevelopmentExpenseBusinessDevelopment
0 usd
CY2023Q2 ovtz Research And Development Expense Business Development
ResearchAndDevelopmentExpenseBusinessDevelopment
0 usd
ovtz Research And Development Expense Business Development
ResearchAndDevelopmentExpenseBusinessDevelopment
0 usd
ovtz Research And Development Expense Business Development
ResearchAndDevelopmentExpenseBusinessDevelopment
3952 usd
CY2024Q2 ovtz Research And Development Expense Payroll
ResearchAndDevelopmentExpensePayroll
0 usd
CY2023Q2 ovtz Research And Development Expense Payroll
ResearchAndDevelopmentExpensePayroll
0 usd
ovtz Research And Development Expense Payroll
ResearchAndDevelopmentExpensePayroll
0 usd
ovtz Research And Development Expense Payroll
ResearchAndDevelopmentExpensePayroll
30486 usd
CY2024Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2551 usd
CY2023Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4734 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4731 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
88937 usd
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
86545 usd
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
127575 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
29705 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
156574 usd
CY2024Q2 us-gaap Liabilities Current
LiabilitiesCurrent
292195 usd
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
273723 usd

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0001437749-24-026305.txt Edgar Link pending
0001437749-24-026305-xbrl.zip Edgar Link pending
ex_711455.htm Edgar Link pending
ex_711456.htm Edgar Link pending
ex_711457.htm Edgar Link pending
ex_711458.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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ovtz-20240630.xsd Edgar Link pending
ovtz20240630_10q.htm Edgar Link pending
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ovtz-20240630_def.xml Edgar Link unprocessable
ovtz-20240630_pre.xml Edgar Link unprocessable
ovtz-20240630_lab.xml Edgar Link unprocessable
ovtz20240630_10q_htm.xml Edgar Link completed
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ovtz-20240630_cal.xml Edgar Link unprocessable
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