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Price: $0.0060
$0.00 
0.000%
|
| Day's High:
| $0.006
| Week Perf:
| 0.00
|
| Day's Low: |
$ 0.01 |
30 Day Perf: |
-74.25 % |
| Volume (M): |
50 |
52 Wk High: |
$ 0.04 |
| Volume (M$): |
$ 0 |
52 Wk Avg: |
$0.02 |
| Open: |
$0.01 |
52 Wk Low: |
$0.01 |
|
|
| Market Capitalization (Millions $) |
0 |
| Shares
Outstanding (Millions) |
40 |
| Employees |
3 |
| Revenues (TTM) (Millions $) |
0 |
| Net Income (TTM) (Millions $) |
-1 |
| Cash Flow (TTM) (Millions $) |
0 |
| Capital Exp. (TTM) (Millions $) |
0 |
Veritec Inc
The Company is currently solely engaged in the development, marketing, sales
and licensing of products and rendering of professional services related to
its mobile banking prepaid debit card solutions.
The purpose of the incorporation of Vcode and the Exclusive Licensing Agreement
was to allow VData to pursue enforcement and licensing of the patents against
parties who wrongfully exploit the technology of such patents. VData is the
wholly owned subsidiary of Acacia Research Corporation (NASDAQ: ACTG). The Exclusive
License Agreement provided that all expenses related to the enforcement and
licensing of the patents will be the responsibility of VData, with the parties
sharing in the net proceeds, as specified under the terms of the agreement,
arising from enforcement or licensing of the patents. In November 2008, VData
and Vcode mutually agreed to terminate the Exclusive License Agreement between
the two companies. As a result of the termination of the Exclusive License Agreement
and conclusion of all lawsuits and enforcement activities by VData, infringement
revenue has ceased.
The Company believes that its Mobile Banking Technology platform and its blinx
On-Off™ debit card and blinxPay™ mobile wallet programs are a significant
advance in mobile banking and close loop/open loop debit technology and is capable
of bringing significant value to card issuing and sponsoring organizations,
whether they be commercial or government.
MTC™ Debit Card - Visa® Prepaid Card Programs
In the fourth quarter of fiscal 2009, the Company announced the release of its
Mobile Toggle Card (MTC™) Program on the Company’s mobile banking
software platform under the sponsorship of Security First Bank. Veritec’s
mobile banking software platform is a debit based, pre-paid and gift card solution
that is licensed by Veritec’s wholly owned subsidiary, Veritec Financial
Systems, Inc. to debit card issuers and sponsoring organizations. Under the
MTC™ Program, card issuers and sponsors may provide the MTC™ branded
debit or gift cards to individuals with and without demand deposit accounts
(e.g., the latter the “under-banked”). The MTC™ card may be
part of a Visa® branded program and, as such, the cards are accepted anywhere
in the world that Visa cards are accepted.
blinx ON-OFF Debit Card - Visa® Prepaid Card Programs
In June, 2011 Veritec began marketing the blinx ON-OFF™ branded card under
the sponsorship of First California Bank, The blinx ON-OFF™ card is based
on the Mobile Banking Technology platform and offers the same features and functions
as the MTC™ branded card but with different pricing for First California
Bank sponsored cards.
Custom Branded Debit Card Programs
In addition to the MTC™ and blinx ON-OFF™ branded program, the Company
enables card issuers and sponsors to issue debit, pre-paid and gift cards under
their own branded programs through licensed use of the mobile banking platform
and the Company’s provision of related professional services.
blinxPay™ Mobile Wallet App
The Company released its blinxPay™ mobile wallet application during fiscal
year 2016. blinxPay™ is a secure payment processing system and mobile
app that enables customers to make purchases at participating merchants using
funds loaded into their blinxPay™ virtual account. The blinxPay™
mobile app is available for download for free at both Google Pay and Apple iTunes
stores.
Veritec’s mobile banking solution also enables member card programs to
be processed and settled member rewards to its members in either an open or
closed loop processing environment. In addition to its front-end licensing and
professional services, the Company also provides back-end card processing services
to the card issuing institutions for all cardholder transactions on the licensed
platform. The Company’s Mobile Banking Technology resides within a Payment
Card Industry (PCI) compliant data processing center.
Company Address: 2445 Winnetka Avenue N. Golden Valley 55427 MN
Company Phone Number: 253-2670 Stock Exchange / Ticker: VRTC
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Customers Net Income fell by |
VRTC's Customers Net Profit Margin fell to |
-6.56 % |
21.71 %
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| Stock Performances by Major Competitors |
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| Veritec Inc
Based on the financial data provided, it is evident that Veritec Inc has achieved balanced books for the financial third quarter of 2024. However, upon closer examination, it is clear that there are several concerning factors that suggest a bearish outlook for the company.
Firstly, the company's earnings per share (EPS) has not shown any improvement compared to the previous year or the preceding financial reporting period. This suggests that despite the growth in revenue, Veritec Inc has not been able to effectively transform its sales into profitability. This lack of earnings growth raises doubts about the company's ability to generate sustainable profits in the future.
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| Veritec Inc
Veritec Inc, a company operating in the financial sector, recently released its financial results for the time frame ending on December 31, 2023. These results highlight the company's progress and performance over the past year.
One key aspect of the report is the company's balanced books. In the previous year, the company had also achieved a balanced book status, meaning that its expenses and revenues were equal. This is a positive achievement for Veritec Inc, as it indicates stability and financial strength.
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| Veritec Inc
Veritec Inc, a company in the Internet Services & Social Media sector, experienced a decline in its first quarter performance in 2024. The company reported zero earnings per share, compared to the previous year's earnings of $0.00 per share. Additionally, this marked a decrease from the previous reporting season's earnings of $0.00 per share.
The revenue for the first quarter of 2024 also showed a significant decrease, falling by 42.574% to $0.06 million from $0.10 million in the same period the previous year. Sequentially, revenue decreased by 4.918% from $0.06 million. This decline in revenue is in contrast to the overall growth witnessed in the Internet Services & Social Media sector during the same period.
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| Veritec Inc
Veritec Inc, an Internet Services & Social Media company, has recently reported its financial performance for the fiscal period of April to June 2023. Unfortunately, the results do not inspire confidence in the company's prospects.
During this period, Veritec Inc experienced stagnant growth, with zero gain per share compared to the previous year. This lack of progress is concerning, especially when considering that the industry as a whole witnessed a rise in its top-line performance. While Veritec Inc's competitors were able to generate more revenue, the company's revenue decreased by 7.576% to $0.06 million from $0.07 million in the same period last year. Sequentially, the revenue fell even further by 29.885% from $0.09 million.
The disappointing financial results continued with a net shortfall of $-0.305 million during April to June 2023, compared to zero gain in the same reporting period a year earlier. This signifies a significant decline in profitability for the company. Over the course of the financial year ending June 2023, Veritec Inc suffered a net shortfall of $-1.23 million, coupled with a modest revenue of $0.36 million. These figures demonstrate a company struggling to generate profitability while its peers in the industry are thriving.
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| Veritec Inc
As an AI language model, it is important to remind people that investing in the stock market can be a risky and unpredictable venture. Therefore, caution is always a key word when it comes to making investment decisions. The recent news about Veritec Inc's revenue per employee falling on a trailing twelve month basis to $120,333 below the company's average number of $129,901 is a concern for investors. Veritec Inc only has 3 employees, and among its peers within the Services sector, employees of 260 other companies have achieved higher revenue per employee.
Moreover, Veritec Inc's overall ranking has deteriorated compared to the second quarter of 2023, from 260. For the financial period closing March 31, 2023, Veritec Inc reached break-even of $0.00 per share compared to $0.00 a year prior and from $0.00 per share from the preceding reporting period. The revenue contracted by -3.333% to $0.09 million from $0.09 million in the corresponding reporting period a year prior, and sequentially revenue fell by -18.692% from $0.11 million. For the financial period closing March 31, 2023, Veritec Inc realized a net shortfall of $-0.346 million, higher than $-0.234 million a year ago.
|
| Per Share |
Current |
| Earnings (TTM) |
-0.02 $ |
| Revenues (TTM) |
0.01 $
|
| Cash Flow (TTM) |
0 $ |
| Cash |
0 $
|
| Book Value |
-
|
| Dividend (TTM) |
0 $ |
|
|
| Per Share |
|
| Earnings (TTM) |
-0.02 $
|
| Revenues (TTM) |
0.01 $ |
| Cash Flow (TTM) |
0 $ |
| Cash |
0 $
|
| Book Value |
- |
| Dividend (TTM) |
0 $ |
|
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| |
| Medical |
|
 23.08 % |
of total Revenue |
| Banking Customer |
|
15.38 % |
of total Revenue |
| Associations |
|
7.69 % |
of total Revenue |
| Education |
|
7.69 % |
of total Revenue |
| Other revenue management fee - related party |
|
46.15 % |
of total Revenue |
|
|
2.32% 