Veritec (Veritec) Total Assets : $0.17 Mil (As of Mar. 2024)

View and export this data going back to . Start your Free Trial

What is Veritec Total Assets?

Veritec's Total Assets for the quarter that ended in Mar. 2024 was $0.17 Mil.

During the past 12 months, Veritec's average Total Assets Growth Rate was 36.40% per year. During the past 3 years, the average Total Assets Growth Rate was -6.70% per year. During the past 5 years, the average Total Assets Growth Rate was -0.10% per year. During the past 10 years, the average Total Assets Growth Rate was -32.80% per year.

During the past 13 years, Veritec's highest 3-Year average Total Assets Growth Rate was 92.80%. The lowest was -65.00%. And the median was -10.80%.

Total Assets is connected with ROA %. Veritec's annualized ROA % for the quarter that ended in Mar. 2024 was -883.15%. Total Assets is also linked to Revenue through Asset Turnover. Veritec's Asset Turnover for the quarter that ended in Mar. 2024 was 0.97.

Veritec Total Assets Historical Data

The historical data trend for Veritec's Total Assets 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.

* Premium members only.

Veritec Total Assets Chart

Veritec Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Total Assets

Get a 7-Day Free Trial

0.11

0.24

0.25

0.08

0.07

Veritec Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Total Assets	Get a 7-Day Free Trial															0.14	0.07	0.06	0.11	0.17

Veritec Total Assets Calculation

Total Assets are all the assets a company owns.

From the capital sources of the assets, some of the assets are funded through shareholder's paid in capital and retained earnings of the business. Others are funded through borrowed money.

Veritec's Total Assets for the fiscal year that ended in Jun. 2023 is calculated as

Total Assets	=	Total Equity (A: Jun. 2023 )	+	Total Liabilities (A: Jun. 2023 )
	=	-8.67	+	8.744
	=	0.07

Veritec's Total Assets for the quarter that ended in Mar. 2024 is calculated as

Total Assets	=	Total Equity (Q: Mar. 2024 )	+	Total Liabilities (Q: Mar. 2024 )
	=	-9.519	+	9.687
	=	0.17

Veritec (OTCPK:VRTC) Total Assets Explanation

Total Assets is connected with ROA %.

Veritec's annualized ROA % for the quarter that ended in Mar. 2024 is

ROA %	=	Net Income (Q: Mar. 2024 )	/	( (Total Assets (Q: Dec. 2023 )	+	Total Assets (Q: Mar. 2024 ))	/ count )
	=	-1.232	/	( (0.111	+	0.168)	/ 2 )
	=	-1.232	/	0.1395
	=	-883.15 %

Note: The Net Income data used here is four times the quarterly (Mar. 2024) data.

In the article Joining The Dark Side: Pirates, Spies and Short Sellers, James Montier reported that In their US sample covering the period 1968-2003, Cooper et al find that firms with low asset growth outperformed firms with high asset growth by an astounding 20% p.a. equally weighted. Even when controlling for market, size and style, low asset growth firms outperformed high asset growth firms by 13% p.a. Therefore a company with fast asset growth may underperform.

Total Assets is linked to total revenue through Asset Turnover.

Veritec's Asset Turnover for the quarter that ended in Mar. 2024 is

	Asset Turnover
=	Revenue (Q: Mar. 2024 )	/	( (Total Assets (Q: Dec. 2023 )	+	Total Assets (Q: Mar. 2024 ))	/ count )
=	0.136	/	( (0.111	+	0.168)	/ 2 )
=	0.136	/	0.1395
=	0.97

Therefore, if a company grows its Total Assets faster than its Revenue, the Asset Turnover will decline. This might be a warning sign for the business.

Veritec Total Assets Related Terms

Thank you for viewing the detailed overview of Veritec's Total Assets provided by GuruFocus.com. Please click on the following links to see related term pages.

Veritec (Veritec) Business Description

Industry

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

Comparable Companies

Traded in Other Exchanges

N/A

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

Veritec (Veritec) Headlines

From GuruFocus

VERITEC SIGNED JOINT VENTURE WITH VIVA ENTERTAINMENT GROUP AKA VIVALIVETV (OTTV)

By PRNewswire PRNewswire • 05-23-2023