$VRTC
VERITEC INC Stock $vrtc

$vrtc Overview Financials Valuation SEC Filings Company Website

2023 Q4 Form 10-K Financial Statement

#000160706223000457 Filed on October 13, 2023

Income Statement

Concept	2023 Q4	2023 Q2	2023
Revenue	$107.0K	$61.00K	$356.0K
YoY Change	0.0%	-7.58%	0.85%
Cost Of Revenue	$31.00K	$41.00K	$211.0K
YoY Change	-35.42%	-79.4%	6.03%
Gross Profit	$76.00K	$20.00K	$145.0K
YoY Change	28.81%	-115.04%	-5.84%
Gross Profit Margin	71.03%	32.79%	40.73%
Selling, General & Admin	$174.0K	$196.0K	$883.0K
YoY Change	-16.75%	-8.84%	21.29%
% of Gross Profit	228.95%	980.0%	608.97%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses	$174.0K	$196.0K	$883.0K
YoY Change	-16.75%	201.54%	21.29%
Operating Profit	-$98.00K	-$176.0K	-$738.0K
YoY Change	-34.67%	-11.11%	28.57%
Interest Expense	$137.0K	-$129.0K	$496.0K
YoY Change	12.3%	11.21%	10.96%
% of Operating Profit
Other Income/Expense, Net	-$137.0K		$350.0K
YoY Change	12.3%		414.71%
Pretax Income	-$235.0K	-$305.0K	-$1.234M
YoY Change	-13.6%	-467.47%	143.87%
Income Tax			$0.00
% Of Pretax Income
Net Earnings	-$235.0K	-$305.0K	-$1.234M
YoY Change	-13.6%	-467.47%	143.87%
Net Earnings / Revenue	-219.63%	-500.0%	-346.63%
Basic Earnings Per Share			-$0.03
Diluted Earnings Per Share	-$0.01	-$0.01	-$0.03
COMMON SHARES
Basic Shares Outstanding	39.99M shares	39.99M shares	39.99M shares
Diluted Shares Outstanding			39.99M shares

Balance Sheet

Concept	2023 Q4	2023 Q2	2023
SHORT-TERM ASSETS
Cash & Short-Term Investments	$59.00K	$61.00K	$61.00K
YoY Change	-67.76%	-7.58%	-7.58%
Cash & Equivalents	$59.00K	$0.00
Short-Term Investments
Other Short-Term Assets	$6.000K	$6.000K	$6.000K
YoY Change	0.0%	0.0%	0.0%
Inventory
Prepaid Expenses	$6.000K	$6.000K
Receivables	$46.00K	$7.000K	$7.000K
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$111.0K	$74.00K	$74.00K
YoY Change	-43.37%	-6.33%	-6.33%
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	$0.00	$0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets	$111.0K	$74.00K	$74.00K
Total Long-Term Assets	$0.00	$0.00	$0.00
Total Assets	$111.0K	$74.00K	$74.00K
YoY Change	-43.37%	-6.33%	-6.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$300.0K	$289.0K	$408.0K
YoY Change	4.17%	6.64%	9.38%
Accrued Expenses	$60.00K	$60.00K	$60.00K
YoY Change	3.45%	1.69%	1.69%
Deferred Revenue	$29.00K	$29.00K
YoY Change	11.54%	16.0%
Short-Term Debt	$8.459M	$7.892M	$7.892M
YoY Change	14.64%	14.33%	14.33%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$8.967M	$8.389M	$8.389M
YoY Change	13.46%	13.98%	13.98%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$0.00
YoY Change
Other Long-Term Liabilities	$355.0K	$355.0K	$355.0K
YoY Change	13.78%	129.03%	129.03%
Total Long-Term Liabilities	$355.0K	$355.0K	$355.0K
YoY Change	13.78%	129.03%	129.03%
TOTAL LIABILITIES
Total Short-Term Liabilities	$8.967M	$8.389M	$8.389M
Total Long-Term Liabilities	$355.0K	$355.0K	$355.0K
Total Liabilities	$9.322M	$8.744M	$8.744M
YoY Change	13.48%	16.35%	16.35%
SHAREHOLDERS EQUITY
Retained Earnings	-$27.77M	-$27.23M
YoY Change	4.49%	4.75%
Common Stock	$400.0K	$400.0K
YoY Change	0.0%	0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	-$9.211M	-$8.670M	-$8.670M
YoY Change
Total Liabilities & Shareholders Equity	$111.0K	$74.00K	$74.00K
YoY Change	-43.37%	-6.33%	-6.33%

Cashflow Statement

Concept	2023 Q4	2023 Q2	2023
OPERATING ACTIVITIES
Net Income	-$235.0K	-$305.0K	-$1.234M
YoY Change	-13.6%	-467.47%	143.87%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities	-$164.0K	-$206.0K	-$499.0K
YoY Change	763.16%	1.98%	-26.07%
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	170.0K	139.0K	$494.0K
YoY Change	240.0%	75.95%	-1.79%
NET CHANGE
Cash From Operating Activities	-164.0K	-206.0K	-$499.0K
Cash From Investing Activities
Cash From Financing Activities	170.0K	139.0K	$494.0K
Net Change In Cash	6.000K	-67.00K	-$5.000K
YoY Change	-80.65%	-45.53%	-97.09%
FREE CASH FLOW
Cash From Operating Activities	-$164.0K	-$206.0K	-$499.0K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2023	dei	Amendment Flag AmendmentFlag	false
CY2023	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
CY2023	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	FY
CY2023Q2	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
CY2023	dei	Document Type DocumentType	10-K
CY2023	dei	Document Annual Report DocumentAnnualReport	true
CY2023	dei	Document Period End Date DocumentPeriodEndDate	2023-06-30
CY2023	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--06-30
CY2023	dei	Document Transition Report DocumentTransitionReport	false
CY2023	dei	Entity File Number EntityFileNumber	000-15113
CY2023	dei	Entity Registrant Name EntityRegistrantName	VERITEC, INC.
CY2023	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	NV
CY2023	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	95-3954373
CY2023	dei	Entity Address Address Line1 EntityAddressAddressLine1	12445 Winnetka Avenue N.
CY2023	dei	Entity Address City Or Town EntityAddressCityOrTown	Golden Valley
CY2023	dei	Entity Address State Or Province EntityAddressStateOrProvince	MN
CY2023	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	55427
CY2023	dei	City Area Code CityAreaCode	763
CY2023	dei	Local Phone Number LocalPhoneNumber	253-2670
CY2023	dei	Security12b Title Security12bTitle	Common Stock, par value $0.01 per share
CY2023	dei	Trading Symbol TradingSymbol	VRTC
CY2023	dei	Entity Well Known Seasoned Issuer EntityWellKnownSeasonedIssuer	No
CY2023	dei	Entity Voluntary Filers EntityVoluntaryFilers	No
CY2023	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2023	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2023	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
CY2023	dei	Entity Small Business EntitySmallBusiness	true
CY2023	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
CY2023	dei	Entity Shell Company EntityShellCompany	false
CY2022Q4	dei	Entity Public Float EntityPublicFloat	305000	usd
CY2023	dei	Document Fin Stmt Error Correction Flag DocumentFinStmtErrorCorrectionFlag	false
CY2023Q4	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	39988007	shares
CY2023	dei	Auditor Name AuditorName	Weinberg & Company, P.A.
CY2023	dei	Auditor Location AuditorLocation	Los Angeles, California
CY2023	dei	Auditor Firm AuditorFirmId	572
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CY2022Q2	us-gaap	Cash Cash	66000	usd
CY2023Q2	us-gaap	Accounts And Notes Receivable Net AccountsAndNotesReceivableNet	7000	usd
CY2022Q2	us-gaap	Accounts And Notes Receivable Net AccountsAndNotesReceivableNet	7000	usd
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CY2022Q2	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	6000	usd
CY2023Q2	us-gaap	Assets Current AssetsCurrent	74000	usd
CY2022Q2	us-gaap	Assets Current AssetsCurrent	79000	usd
CY2023Q2	us-gaap	Accounts Payable Current AccountsPayableCurrent	289000	usd
CY2022Q2	us-gaap	Accounts Payable Current AccountsPayableCurrent	271000	usd
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CY2022Q2	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	59000	usd
CY2023Q2	VRTC	Customer Deposit Current CustomerDepositCurrent	29000	usd
CY2022Q2	VRTC	Customer Deposit Current CustomerDepositCurrent	25000	usd
CY2023Q2	VRTC	Convertible Notes And Notes Payable In Default ConvertibleNotesAndNotesPayableInDefault	525000	usd
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CY2023Q2	us-gaap	Notes And Loans Payable Current NotesAndLoansPayableCurrent	570000	usd
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CY2022Q2	us-gaap	Liabilities Current LiabilitiesCurrent	7360000	usd
CY2023Q2	us-gaap	Deferred Revenue Noncurrent DeferredRevenueNoncurrent	200000	usd
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CY2022Q2	VRTC	Contingent Earnout Liability ContingentEarnoutLiability	155000	usd
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CY2022Q2	us-gaap	Liabilities Liabilities	7515000	usd
CY2023Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	1.00
CY2022Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	1.00
CY2023Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
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CY2023Q2	us-gaap	Preferred Stock Value PreferredStockValue	1000	usd
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CY2022Q2	us-gaap	Common Stock Value CommonStockValue	400000	usd
CY2023Q2	VRTC	Common Stock To Be Issued Shares CommonStockToBeIssuedShares	145000	shares
CY2022Q2	VRTC	Common Stock To Be Issued Shares CommonStockToBeIssuedShares	145000	shares
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CY2023	us-gaap	Use Of Estimates UseOfEstimates	<p id="xdx_845_eus-gaap--UseOfEstimates_zIBWXdnfnaW2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86B_zOid5ZkLUrJ2">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of revenues and expenses during the reporting period. Those estimates and assumptions include estimates for reserves of uncollectible accounts, analysis of impairments of long-lived assets, accruals for potential liabilities, assumptions made in valuing stock instruments issued for services, and valuation of deferred tax assets. Actual results could differ from those estimates.</span></p>
CY2023Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	0	usd
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CY2023	us-gaap	Revenues Revenues	356000	usd
CY2022	us-gaap	Revenues Revenues	353000	usd
CY2023	VRTC	Aggregate Fees AggregateFees	50000	usd
CY2023	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	28811581	shares
CY2022	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	26587568	shares
CY2023	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p id="xdx_840_eus-gaap--ConcentrationRiskCreditRisk_zn8xbA8cudE9" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86C_zfB7T4g9DHb3">Concentrations</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended June 30, 2023, the Company had three customers, that represented <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_c20220701__20230630__srt--MajorCustomersAxis__custom--CustomerOneMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z1y7j3nl8Thj" title="Concentration risk, percentage">61</span>% (a related party), <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp_c20220701__20230630__srt--MajorCustomersAxis__custom--CustomerTwoMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zgto7WJagoIl" title="Concentration risk, percentage">14</span>% and <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp_c20220701__20230630__srt--MajorCustomersAxis__custom--CustomerThreeMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zPUzK2DkeGJc" title="Concentration risk, percentage">13</span>% of our revenues, respectively. During the year ended June 30, 2022, the Company had two customers, that represented <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_c20210701__20220630__srt--MajorCustomersAxis__custom--CustomerOneMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zA0blVxuZEph" title="Concentration risk, percentage">75</span>% (a related party) and <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_c20210701__20220630__srt--MajorCustomersAxis__custom--CustomerTwoMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z5wIO1d8uyVc" title="Concentration risk, percentage">15</span>% of our revenues, respectively. No other customer represented more than 10% of our revenues. </span></p>
CY2023Q2	VRTC	Notes Payable Related Party NotesPayableRelatedParty	7322000	usd
CY2022Q2	VRTC	Notes Payable Related Party NotesPayableRelatedParty	6353000	usd
CY2022	us-gaap	Profit Loss ProfitLoss	506000	usd
CY2023	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0	usd
CY2022	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0	usd
CY2023	us-gaap	Net Income Loss NetIncomeLoss	-1234000	usd
CY2023	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-499000	usd
CY2023Q2	us-gaap	Stockholders Equity StockholdersEquity	-8670000	usd
CY2023Q2	VRTC	Notes Payable In Default NotesPayableInDefault	767000	usd
CY2023Q2	VRTC	Convertible Notes Payable In Default ConvertibleNotesPayableInDefault	66000	usd
CY2022Q2	VRTC	Convertible Notes Payable In Default ConvertibleNotesPayableInDefault	64000	usd
CY2023Q2	VRTC	Notes Payable In Default No Relation NotesPayableInDefaultNoRelation	475000	usd
CY2022Q2	VRTC	Notes Payable In Default No Relation NotesPayableInDefaultNoRelation	458000	usd
CY2023Q2	us-gaap	Notes Payable NotesPayable	29000	usd
CY2022Q2	us-gaap	Notes Payable NotesPayable	28000	usd
CY2023Q2	us-gaap	Notes And Loans Payable NotesAndLoansPayable	570000	usd
CY2022Q2	us-gaap	Notes And Loans Payable NotesAndLoansPayable	550000	usd
CY2023Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2023Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	1.00
CY2023Q2	VRTC	Common Stock To Be Issued Shares CommonStockToBeIssuedShares	145000	shares
CY2022Q2	VRTC	Common Stock To Be Issued Shares CommonStockToBeIssuedShares	145000	shares
CY2023Q2	VRTC	Common Stock To Be Issued CommonStockToBeIssued	12000	usd
CY2022Q2	VRTC	Common Stock To Be Issued CommonStockToBeIssued	12000	usd
CY2021Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	3400000	shares
CY2021Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	0.08
CY2022	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	0	shares
CY2022	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	0
CY2022	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares	2500000	shares
CY2022	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice	0.08
CY2022Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	900000	shares
CY2022Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	0.03
CY2023	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	0	shares
CY2023	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	0
CY2023	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice	-0
CY2023Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	900000	shares
CY2023Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	0.03
CY2023Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber	900000	shares
CY2023Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice	0.03
CY2023Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue	0	usd
CY2023Q2	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1	0	usd
CY2022Q2	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1	0	usd
CY2023Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	900000	shares
CY2023	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	P2Y5M23D
CY2023Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	0.03
CY2023	us-gaap	Profit Loss ProfitLoss	1234000	usd
CY2023	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.21	pure
CY2022	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.21	pure
CY2023	us-gaap	Effective Income Tax Rate Reconciliation State And Local Income Taxes EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes	0.06	pure
CY2022	us-gaap	Effective Income Tax Rate Reconciliation State And Local Income Taxes EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes	0.06	pure
CY2023	us-gaap	Effective Income Tax Rate Reconciliation Other Reconciling Items Percent EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent	0.27	pure
CY2022	us-gaap	Effective Income Tax Rate Reconciliation Other Reconciling Items Percent EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent	0.27	pure
CY2023	us-gaap	Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance	-0.27	pure
CY2022	us-gaap	Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance	-0.27	pure
CY2023	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0	pure
CY2022	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0	pure
CY2023Q2	us-gaap	Deferred Tax Assets Operating Loss Carryforwards DeferredTaxAssetsOperatingLossCarryforwards	4315000	usd
CY2022Q2	us-gaap	Deferred Tax Assets Operating Loss Carryforwards DeferredTaxAssetsOperatingLossCarryforwards	3982000	usd
CY2023Q2	us-gaap	Deferred Tax Assets Gross DeferredTaxAssetsGross	4315000	usd
CY2022Q2	us-gaap	Deferred Tax Assets Gross DeferredTaxAssetsGross	3982000	usd
CY2023Q2	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	4315000	usd
CY2022Q2	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	3982000	usd
CY2023Q2	us-gaap	Deferred Tax Assets Net DeferredTaxAssetsNet	0	usd
CY2022Q2	us-gaap	Deferred Tax Assets Net DeferredTaxAssetsNet	0	usd
CY2023	us-gaap	Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance	333000	usd
CY2023Q2	us-gaap	Operating Loss Carryforwards Valuation Allowance OperatingLossCarryforwardsValuationAllowance	15983000	usd
CY2023Q2	us-gaap	Income Tax Examination Penalties And Interest Accrued IncomeTaxExaminationPenaltiesAndInterestAccrued	0	usd
CY2022Q2	us-gaap	Income Tax Examination Penalties And Interest Accrued IncomeTaxExaminationPenaltiesAndInterestAccrued	0	usd
CY2023	us-gaap	Sponsor Fees SponsorFees	100000	usd
CY2023	us-gaap	Payments For Software PaymentsForSoftware	350000	usd
CY2023	us-gaap	Other Expenses OtherExpenses	350000	usd

Files In Submission

Name	View Source	Status
FilingSummary.xml	Edgar Link	unprocessable
vrtc-20230630_cal.xml	Edgar Link	unprocessable
0001607062-23-000457-index-headers.html	Edgar Link	pending
0001607062-23-000457-index.html	Edgar Link	pending
0001607062-23-000457.txt	Edgar Link	pending
0001607062-23-000457-xbrl.zip	Edgar Link	pending
ex31_1.htm	Edgar Link	pending
ex32_1.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
R11.htm	Edgar Link	pending
R12.htm	Edgar Link	pending
R13.htm	Edgar Link	pending
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R15.htm	Edgar Link	pending
R16.htm	Edgar Link	pending
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R2.htm	Edgar Link	pending
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R27.htm	Edgar Link	pending
R28.htm	Edgar Link	pending
R29.htm	Edgar Link	pending
R3.htm	Edgar Link	pending
R30.htm	Edgar Link	pending
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R38.htm	Edgar Link	pending
R39.htm	Edgar Link	pending
R4.htm	Edgar Link	pending
R40.htm	Edgar Link	pending
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R42.htm	Edgar Link	pending
R43.htm	Edgar Link	pending
R44.htm	Edgar Link	pending
R5.htm	Edgar Link	pending
R6.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending
vrtc-20230630.xsd	Edgar Link	pending
vrtc063023form10k.htm	Edgar Link	pending
vrtc-20230630_def.xml	Edgar Link	unprocessable
vrtc-20230630_lab.xml	Edgar Link	unprocessable
vrtc-20230630_pre.xml	Edgar Link	unprocessable
vrtc063023form10k_htm.xml	Edgar Link	completed

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$VRTC
VERITEC INC Stock $vrtc

2023 Q4 Form 10-K Financial Statement

#000160706223000457 Filed on October 13, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$VRTC VERITEC INC Stock $vrtc

2023 Q4 Form 10-K Financial Statement

#000160706223000457 Filed on October 13, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$VRTC
VERITEC INC Stock $vrtc