Veritec, Inc., together with its subsidiaries, engages in the development, sale, and licensing of products; and provision of services related to mobile banking solutions in the United States. The company offers Mobile Toggle Card program, a debit based, pre-paid, and gift card solution to debit card issuers and sponsoring organizations; and blinx ON-OFF debit card-Visa prepaid card programs. It also enables card issuers and sponsors to issue debit, pre-paid, and gift cards under their own branded programs through the licensed use of the mobile banking platform; and provides related professional services. In addition, the company offers blinxPay mobile wallet application, a payment processing system that enables customers to make purchases at participating merchants using funds loaded into their blinxPay virtual account. Further, its mobile banking solution enables member card programs to process and settle member rewards in open or closed loop processing environment, as well as offers back-end card processing services to the card issuing institutions for various cardholder transactions on the licensed platform. The company was incorporated in 1982 and is based in Golden Valley, Minnesota.
Company profile
Ticker
VRTC
Exchange
Website
CEO
Ms. Van Thuy Tran
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
SEC CIK
Corporate docs
IRS number
953954373
VRTC stock data
Latest filings (excl ownership)
10-K
2024 FY
Annual report
10 Oct 24
NT 10-K
Notice of late annual filing
30 Sep 24
10-Q
2024 Q2
Quarterly report
20 May 24
NT 10-Q
Notice of late quarterly filing
14 May 24
10-Q
2024 Q2
Quarterly report
20 Feb 24
NT 10-Q
Notice of late quarterly filing
14 Feb 24
10-Q
2024 Q1
Quarterly report
14 Nov 23
10-K
2023 FY
Annual report
13 Oct 23
NT 10-K
Notice of late annual filing
28 Sep 23
10-Q
2023 Q2
Quarterly report
11 May 23
Latest ownership filings
No filings
Financial summary
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Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
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Cash on hand (at last report) | 118.00 k | 118.00 k | 118.00 k | 118.00 k | 118.00 k | 118.00 k |
Cash burn (monthly) | 11.67 k | (no burn) | 23.33 k | 42.33 k | 31.00 k | 41.33 k |
Cash used (since last report) | 51.86 k | n/a | 103.72 k | 188.17 k | 137.79 k | 183.73 k |
Cash remaining | 66.14 k | n/a | 14.28 k | -70.17 k | -19.79 k | -65.73 k |
Runway (months of cash) | 5.7 | n/a | 0.6 | -1.7 | -0.6 | -1.6 |