2023 Q2 Form 10-K Financial Statement

#000121390023028804 Filed on April 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2022 Q4 2022
Revenue $495.4K $406.2K $1.625M
YoY Change -11.19% 107.45% 99.28%
Cost Of Revenue $241.1K $202.4K $903.6K
YoY Change -17.62% 49.43% 83.78%
Gross Profit $254.3K $203.8K $721.0K
YoY Change -4.09% 237.66% 122.82%
Gross Profit Margin 51.33% 50.17% 44.38%
Selling, General & Admin $315.3K $145.3K $994.5K
YoY Change -9.7% -45.93% -3.62%
% of Gross Profit 123.99% 71.31% 137.92%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $43.53K $43.91K $151.9K
YoY Change 6.43% -11.38% -6.94%
% of Gross Profit 17.12% 21.55% 21.06%
Operating Expenses $320.4K $150.8K $1.016M
YoY Change -9.66% -44.94% -3.43%
Operating Profit -$66.10K $52.98K -$295.1K
YoY Change -26.15% -124.81% -59.5%
Interest Expense $12.62K -$3.200K $27.94K
YoY Change 32.65% -80.54% -147.42%
% of Operating Profit -6.04%
Other Income/Expense, Net $102.3K
YoY Change -71.22%
Pretax Income $17.02K -$104.2K -$321.5K
YoY Change 143.84% -183.84% 23.24%
Income Tax $0.00
% Of Pretax Income
Net Earnings $17.02K -$104.2K -$321.5K
YoY Change 143.99% -183.84% 23.24%
Net Earnings / Revenue 3.44% -25.65% -19.79%
Basic Earnings Per Share $0.00 -$0.01
Diluted Earnings Per Share $0.00 $0.00 -$0.01
COMMON SHARES
Basic Shares Outstanding 28.04M shares 28.04M shares 28.04M shares
Diluted Shares Outstanding 37.09M shares 28.04M shares

Balance Sheet

Concept 2023 Q2 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $72.66K $73.64K $73.64K
YoY Change 141.64% 39.18% 39.18%
Cash & Equivalents $72.66K $73.64K $73.64K
Short-Term Investments
Other Short-Term Assets $33.82K $20.52K $20.52K
YoY Change -59.33% -34.38% -34.38%
Inventory $18.35K $32.27K $32.27K
Prepaid Expenses
Receivables $246.2K $163.2K $163.2K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $371.0K $289.6K $289.6K
YoY Change -21.63% 10.34% 10.34%
LONG-TERM ASSETS
Property, Plant & Equipment $83.52K $162.3K $162.3K
YoY Change -65.42% -33.25% -33.25%
Goodwill $145.1K $145.1K
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $316.4K $403.8K $403.8K
YoY Change -35.65% -19.55% -19.55%
TOTAL ASSETS
Total Short-Term Assets $371.0K $289.6K $289.6K
Total Long-Term Assets $316.4K $403.8K $403.8K
Total Assets $687.4K $693.4K $693.4K
YoY Change -28.77% -9.28% -9.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $201.7K $149.5K $149.5K
YoY Change 41.26% 48.39% 48.4%
Accrued Expenses $91.47K $62.83K $62.83K
YoY Change -18.44% -5.99% -5.99%
Deferred Revenue
YoY Change
Short-Term Debt $3.846M $0.00 $0.00
YoY Change 1210.26%
Long-Term Debt Due $18.13K $3.743M $3.743M
YoY Change 14.68% 42570.6% 5.17%
Total Short-Term Liabilities $4.337M $4.136M $4.136M
YoY Change 4.33% 5.86% 5.86%
LONG-TERM LIABILITIES
Long-Term Debt $163.2K $261.6K $261.6K
YoY Change -38.23% 9.06% 9.06%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $163.2K $261.6K $261.6K
YoY Change -38.23% 9.06% 9.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.337M $4.136M $4.136M
Total Long-Term Liabilities $163.2K $261.6K $261.6K
Total Liabilities $4.501M $4.397M $4.397M
YoY Change 1.79% 6.04% 6.04%
SHAREHOLDERS EQUITY
Retained Earnings -$99.35M -$99.24M
YoY Change 0.36% 0.33%
Common Stock $28.04K $28.04K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.813M -$3.704M -$3.704M
YoY Change
Total Liabilities & Shareholders Equity $687.4K $693.4K $693.4K
YoY Change -28.77% -9.28% -9.29%

Cashflow Statement

Concept 2023 Q2 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $17.02K -$104.2K -$321.5K
YoY Change 143.99% -183.84% 23.24%
Depreciation, Depletion And Amortization $43.53K $43.91K $151.9K
YoY Change 6.43% -11.38% -6.94%
Cash From Operating Activities -$22.63K -$36.04K -$98.84K
YoY Change -23.65% -74.57% -84.98%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $70.99K
YoY Change -100.0% -315.12%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00 -$70.99K
YoY Change -100.0% 115.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities 69.27K 8.520K $190.6K
YoY Change -28.17% -94.57% -65.45%
NET CHANGE
Cash From Operating Activities -22.63K -36.04K -$98.84K
Cash From Investing Activities 0.000 0.000 -$70.99K
Cash From Financing Activities 69.27K 8.520K $190.6K
Net Change In Cash 46.64K -27.52K $20.73K
YoY Change -1213.13% -280.46% -114.87%
FREE CASH FLOW
Cash From Operating Activities -$22.63K -$36.04K -$98.84K
Capital Expenditures $0.00 $0.00 $70.99K
Free Cash Flow -$22.63K -$36.04K -$169.8K
YoY Change -154.73% -74.57% -72.83%

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CY2022Q4 us-gaap Other Borrowings
OtherBorrowings
230000 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Use of Estimates</i></b></span></p><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of our consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates are used primarily when accounting for depreciation and amortization expense, various common stock, warrants and option transactions, evaluation of intangible assets, and loss contingencies.</span></p><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span>
CY2022 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
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CY2022 us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Revenue Recognition</i></b></span></p><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes revenue as it satisfies contractual performance obligations by transferring promised goods or services to the customers. The amount of revenue recognized reflects the consideration the Company expects to be entitled to in exchange for those promised goods or services A good or service is transferred to a customer when, or as, the customer obtains control of that good or service.</span></p><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has one revenue stream, which relates to the provision of hardbanding services by its subsidiary Pro-Tech. All performance obligations of the Company’s contracts with customers are satisfied over the duration of the contract as customer-owned equipment is serviced and then made available for immediate use as completed during the service period. The Company has reviewed its contracts with Pro-Tech customers and determined that due to their short-term nature, with durations of several days of service at the customer’s location, it is only those contracts that occur near the end of a financial reporting period that will potentially require allocation to ensure revenue is recognized in the proper period. The Company has reviewed all such transactions and recorded revenue accordingly.</span></p><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the twelve months ended December 31, 2022 and 2021, the Company recognized revenue of $1,624,635 and $815,267, respectively from contracts with oilfield operators. See Note 12 “<i>Segment and Geographic Information and Revenue Disaggregation</i>” for further information.</span></p><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Because the Company’s contracts have an expected duration of one year or less, the Company has elected the practical expedient in ASC 606-10-50-14(a) to not disclose information about its remaining performance obligations.</span></p><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span>
CY2022 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
1624635 usd
CY2021 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
815267 usd
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Concentration of Credit Risk, Accounts Receivable and Allowance for Doubtful Accounts</i></b></span></p><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentrations of credit risk primarily consist of cash and cash equivalents placed with high credit quality institutions and accounts receivable due from Pro-Tech’s customers. Management evaluates the collectability of accounts receivable based on a combination of factors. If management becomes aware of a customer’s inability to meet its financial obligations after a sale has occurred, the Company records an allowance to reduce the net receivable to the amount that it reasonably believes to be collectable from the customer. Accounts receivable are written off at the point they are considered uncollectible. An allowance of $0 and $5,002 has been recorded at December 31, 2022 and 2021, respectively. The Company suffered $5,002 losses in 2022 and no losses in 2021. If the financial conditions of Pro-Tech’s customers were to deteriorate or if general economic conditions were to worsen, additional allowances may be required in the future. </span></p><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2022 and 2021, three and three customers comprised 78.2% and 64.9% of the Company’s gross accounts receivables, respectively. For the years ended December 31, 2022 and 2021, three and four customers comprised 52.7% and 60.1%, respectively, of the Company’s total revenues.</span></p><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span>
CY2022Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
0 usd
CY2021Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
5002 usd
CY2022 vyey Dad Debt Losses
DadDebtLosses
5002 usd
CY2021 us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
usd
CY2022Q4 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P10Y
CY2022 vyey Weighted Average Number Of Share Outstanding Basics And Diluted
WeightedAverageNumberOfShareOutstandingBasicsAndDiluted
28037713 shares
CY2021 vyey Weighted Average Number Of Share Outstanding Basics And Diluted
WeightedAverageNumberOfShareOutstandingBasicsAndDiluted
28037713 shares
CY2022 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
28037713 shares
CY2021 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
28037713 shares
CY2022 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
2257294 shares
CY2021 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
2648621 shares
CY2022 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
211186 shares
CY2021 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
211186 shares
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2468480 shares
CY2021 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2859807 shares
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
835731 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
764739 usd
CY2022Q4 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
673388 usd
CY2021Q4 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
521534 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
162343 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
243205 usd
CY2022 us-gaap Depreciation
Depreciation
151854 usd
CY2021 us-gaap Depreciation
Depreciation
145920 usd
CY2022 vyey Amortization Of Intangible Asset
AmortizationOfIntangibleAsset
17252 usd
CY2021 vyey Amortization Of Intangible Asset
AmortizationOfIntangibleAsset
17252 usd
CY2022Q4 us-gaap Finite Lived Customer Relationships Gross
FiniteLivedCustomerRelationshipsGross
129680 usd
CY2021Q4 us-gaap Finite Lived Customer Relationships Gross
FiniteLivedCustomerRelationshipsGross
129680 usd
CY2022Q4 us-gaap Finite Lived Trademarks Gross
FiniteLivedTrademarksGross
42840 usd
CY2021Q4 us-gaap Finite Lived Trademarks Gross
FiniteLivedTrademarksGross
42840 usd
CY2022Q4 us-gaap Accumulated Amortization Of Other Deferred Costs
AccumulatedAmortizationOfOtherDeferredCosts
76196 usd
CY2021Q4 us-gaap Accumulated Amortization Of Other Deferred Costs
AccumulatedAmortizationOfOtherDeferredCosts
58944 usd
CY2022Q4 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
96323 usd
CY2021Q4 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
113576 usd
CY2022 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
Events which may cause limitations in the amount of the net operating losses that the Company may use in any one year include, but are not limited to, a cumulative ownership change of more than 50% over a three-year period.
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
8163000 usd
CY2022 vyey Operating Loss Carryforwards Limitationson Use Period
OperatingLossCarryforwardsLimitationsonUsePeriod
P20Y
CY2022 vyey Net Operating Loss Description
NetOperatingLossDescription
Combined with the Section 382 limitation, as of December 31, 2022 the Company has net operating losses available of approximately $8,954,000 which will expire in between 2028 and 2038, and $3,170,000 that will carryforward indefinitely.
CY2022 vyey Operating Income Loss1
OperatingIncomeLoss1
12124000 usd
CY2022 vyey Effective Income Tax Rate Coporate Income Tax Rate
EffectiveIncomeTaxRateCoporateIncomeTaxRate
0.2416 pure
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
2576000 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
2543000 usd
CY2022 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
-12000 usd
CY2021 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
-45000 usd
CY2022 vyey Equity Based Expenses
EquityBasedExpenses
261000 usd
CY2021 vyey Equity Based Expenses
EquityBasedExpenses
278000 usd
CY2022 vyey Other Expense
OtherExpense
-23000 usd
CY2021 vyey Other Expense
OtherExpense
-29000 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
2802000 usd
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
2747000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
2802000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
2747000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022 vyey Noncompulsory Stock Warrantsin Shares
NoncompulsoryStockWarrantsinShares
0 pure
CY2021 vyey Noncompulsory Stock Warrantsin Shares
NoncompulsoryStockWarrantsinShares
0.047 pure
CY2022 vyey State Tax Other Permanent Items
StateTaxOtherPermanentItems
0.032 pure
CY2021 vyey State Tax Other Permanent Items
StateTaxOtherPermanentItems
0.165 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.084 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.13 pure
CY2022Q4 vyey Effective Income Tax Rate Reconciliation Intangible Impairmentin Dollars
EffectiveIncomeTaxRateReconciliationIntangibleImpairmentinDollars
0 pure
CY2021Q4 vyey Effective Income Tax Rate Reconciliation Intangible Impairmentin Dollars
EffectiveIncomeTaxRateReconciliationIntangibleImpairmentinDollars
0 pure
CY2022Q4 vyey Change In Valuation Allowance
ChangeInValuationAllowance
-0.158 pure
CY2021Q4 vyey Change In Valuation Allowance
ChangeInValuationAllowance
-0.552 pure
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2022Q4 us-gaap Notes Payable
NotesPayable
4004657 usd
CY2021Q4 us-gaap Notes Payable
NotesPayable
3798898 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
3743065 usd
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
3559048 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
261592 usd
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
239850 usd
CY2022Q4 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
15200 usd
CY2022 us-gaap Investment Income Amortization Of Discount
InvestmentIncomeAmortizationOfDiscount
15200 usd
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Two
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearTwo
3743065 usd
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Three
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearThree
15589 usd
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Four
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearFour
15589 usd
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Five
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearFive
15589 usd
CY2022Q4 us-gaap Longterm Debt And Capital Lease Obligations Maturities Repayments Of Principal In Years Four And Five
LongtermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearsFourAndFive
15589 usd
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal After Year Five
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalAfterYearFive
199236 usd
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
4004657 usd
CY2021Q3 us-gaap Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
2373 usd
CY2021Q1 us-gaap Proceeds From Loans
ProceedsFromLoans
98622 usd
CY2021Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
98622 usd
CY2022 vyey Accrued Interest Percentage
AccruedInterestPercentage
0.01 pure
CY2022Q4 us-gaap Long Term Debt Maturity Date
LongTermDebtMaturityDate
2050-06-11
CY2022 us-gaap Interest Expense Debt
InterestExpenseDebt
5703 usd
CY2021 us-gaap Interest Expense Debt
InterestExpenseDebt
5703 usd
CY2022Q2 us-gaap Securities Purchased Under Agreements To Resell Increase
SecuritiesPurchasedUnderAgreementsToResellIncrease
31437 usd
CY2022Q2 us-gaap Additions To Other Assets Amount
AdditionsToOtherAssetsAmount
586 usd
CY2022Q2 us-gaap Derivative Fixed Interest Rate
DerivativeFixedInterestRate
0.045 pure
CY2022Q4 us-gaap Loans Receivable With Fixed Rates Of Interest1
LoansReceivableWithFixedRatesOfInterest1
30035 usd
CY2021Q4 us-gaap Loans Receivable With Fixed Rates Of Interest1
LoansReceivableWithFixedRatesOfInterest1
0 usd
CY2022Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
30000 usd
CY2022Q3 us-gaap Derivative Fixed Interest Rate
DerivativeFixedInterestRate
0.055 pure
CY2022Q3 us-gaap Accounts Payable Interest Bearing Interest Rate
AccountsPayableInterestBearingInterestRate
0.0075 pure
CY2022 us-gaap Defined Benefit Plan Other Costs
DefinedBenefitPlanOtherCosts
10000 usd
CY2022Q4 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
0.04
CY2022 vyey Warrants Outstanding
WarrantsOutstanding
0 usd
CY2022 vyey Exercisable
Exercisable
0 usd
CY2021 vyey Warrants Outstanding
WarrantsOutstanding
0 usd
CY2021 vyey Exercisable
Exercisable
0 usd
CY2021 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
usd
CY2022 us-gaap Proceeds From Other Short Term Debt
ProceedsFromOtherShortTermDebt
usd
CY2022 vyey Rent Expenses
RentExpenses
4734 usd
CY2021 vyey Rent Expenses
RentExpenses
4197 usd
CY2022 vyey Commitments And Contingencies Description
CommitmentsAndContingenciesDescription
The Company’s office space in Austin, Texas is leased on a month-to-month basis, and the lease agreement for the Pro-Tech facility in Oklahoma County, Oklahoma is cancellable at any time by giving notice of 90 days.
CY2018Q2 us-gaap Shares Issued
SharesIssued
1880267 shares
CY2020Q4 vyey Increase Loan Amounts
IncreaseLoanAmounts
3000000 usd
CY2021Q1 vyey Sale Of Stock Consideration Receivable On Transaction
SaleOfStockConsiderationReceivableOnTransaction
3500000 usd
CY2021Q3 vyey Increase Loan Amounts
IncreaseLoanAmounts
4000000 usd
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 pure
CY2022 vyey Number Of Geographical Area
NumberOfGeographicalArea
1 pure
CY2022 vyey Recognized Revenue From Contract
RecognizedRevenueFromContract
1624635 usd
CY2021 vyey Recognized Revenue From Contract
RecognizedRevenueFromContract
815267 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
usd
CY2022 us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
-321484 usd
CY2021 us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
-260859 usd
CY2022 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
28037713 shares
CY2021 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
28037713 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28037713 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28037713 shares
CY2022 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.01
CY2021 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.01
CY2022 us-gaap Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
2468480 shares
CY2021 us-gaap Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
2859807 shares
CY2022 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
11917 usd
CY2021 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
11188 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
usd
CY2021 us-gaap Dilutive Securities
DilutiveSecurities
usd
CY2022 us-gaap Diluted Earnings Per Share Pro Forma
DilutedEarningsPerShareProForma
-0.01
CY2021 us-gaap Diluted Earnings Per Share Pro Forma
DilutedEarningsPerShareProForma
-0.01
CY2022 dei Amendment Flag
AmendmentFlag
false
CY2022 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2022 dei Entity Central Index Key
EntityCentralIndexKey
0000700764
CY2022 dei Trading Symbol
TradingSymbol
VYEY

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