Securetech Innovations (SCTH) Q4 2024 earnings summary

Executive summary

• Focused on blockchain, Web3, and cybersecurity innovation, with flagship Top Kontrol anti-theft/carjacking system and Piranha Blockchain subsidiaries driving growth.

• 2025 roadmap includes recapitalization, aggressive M&A, share reduction, uplisting, and spinning off Top Kontrol.

• New CEO appointed in January 2025; prior CEO now leads Top Kontrol product line.

Financial highlights

• 2024 sales were $14,235, down 70.4% year-over-year due to customers awaiting new Top Kontrol release.

• Gross profit was $10,814 (76.0% margin), down from $35,595 (74.1% margin) in 2023.

• Operating expenses rose 2.6% to $414,400, mainly from higher compensation.

• Net loss increased 11.1% to ($409,440) from ($368,470) in 2023.

• Stockholders' deficit widened to ($440,042) as of December 31, 2024.

Outlook and guidance

• Ongoing share reduction program targets under 20 million shares outstanding by end of 2025.

• Plans for Regulation A+ offering to fund working capital and acquisitions.

• Aims for OTCQB uplisting in Q2 2025 and eventual NASDAQ listing.