Veritec (Veritec) Interest Expense : $-0.54 Mil (TTM As of Mar. 2024)

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What is Veritec Interest Expense?

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. Veritec's interest expense for the three months ended in Mar. 2024 was $ -0.14 Mil. Its interest expense for the trailing twelve months (TTM) ended in Mar. 2024 was $-0.54 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. Veritec's Operating Income for the three months ended in Mar. 2024 was $ -0.17 Mil. Veritec's Interest Expense for the three months ended in Mar. 2024 was $ -0.14 Mil. Veritec did not have earnings to cover the interest expense. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Veritec Interest Expense Historical Data

The historical data trend for Veritec's Interest Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Veritec Interest Expense Chart

Veritec Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Interest Expense

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-0.30

-0.34

-0.40

-0.45

-0.50

Veritec Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Interest Expense	Get a 7-Day Free Trial															-0.13	-0.13	-0.13	-0.14	-0.14

Veritec Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $-0.54 Mil.

Veritec (OTCPK:VRTC) Interest Expense Explanation

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Veritec's Interest Expense for the three months ended in Mar. 2024 was $-0.14 Mil. Its Operating Income for the three months ended in Mar. 2024 was $-0.17 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Mar. 2024 was $0.00 Mil.

Veritec's Interest Coverage for the quarter that ended in Mar. 2024 is calculated as

Veritec did not have earnings to cover the interest expense.

The higher the ratio, the stronger the company's financial strength is.

Veritec (Veritec) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Veritec Inc (OTCPK:VRTC) » Definitions » Interest Expense

Comparable Companies

Traded in Other Exchanges

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Address

12445 Winnetka Avenue North, Golden Valley, MN, USA, 55427

Website

https://www.veritecinc.com

Veritec Inc is engaged in the development, marketing, sales, and licensing of products and rendering of professional services. The company renders professional services related to mobile banking technology. Its mobile banking technology is used to offer Prepaid Card Programs to sponsor banks and approved applicants/cardholders. The products and services offered by the company include MTC Debit Card - Visa Prepaid Card Programs, blinx ON-OFF Debit Card - Visa Prepaid Card Programs, Custom Branded Debit Card Programs, and blinxPay Mobile Wallet App. Geographically, it derives revenue from the United States.

Executives

Matthews Group, Llc	10 percent owner	2445 WINNETKA AVENUE, GOLDEN VALLEY MN 55427
Van Thuy Tran	director, 10 percent owner, officer: CEO & President	2445 WINNETKA AVENUE, GOLDEN VALLEY MN 55427
Lawrence J Johanns	10 percent owner	2445 WINNETKA AVENUE, GOLDEN VALLEY MN 55427
Laird E. Powers	director	530 HAWTHORNE COURT, LOS ALTOS CA 94024
David Christopher Reiling	director	4516 FREMONT AVENUE SOUTH, MINNEAPOLIS MN 55419
Robert W Junghans	director	2 SKILLMAN LANE, NORTH OAKS MN 55127
Jeffrey J Hattara	officer: Chief Executive Officer	319 BARRY AVENUE SOUTH, SUITE 300, WAYZATA MN 55391
Gerald David Fors	officer: CFO	7321-15TH AVE. SO., RICHFIELD MN 55423
Larry Matthews	director	7601 5TH AVE., RICHFIELD MN 55423
Charles E Boyer	director

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