Fri, May 9, 8:06 PM (38 days ago)
**Vislink Technologies, Inc. (VISL) 10-K/A Summary** **Company Overview:** Vislink Technologies, Inc. (VISL) is a technology company focused on wireless connectivity solutions. The company filed this 10-K/A to amend its annual report for the fiscal year ended December 31, 2024. The amendment includes updates to Items 10, 11, 12, 13, and 14 of Part III, and Item 15 of Part IV. **Financial Performance:** - The amendment does not provide specific financial figures for revenue, net income, or operating expenses. However, it mentions that the company has engaged in no reportable transactions with related persons that exceeded $120,000 or 1% of the average of the Company’s total assets at year-end for the last two completed fiscal years. - Audit fees for the fiscal year ended December 31, 2024, were $400,828, up from $356,690 in 2023. **Executive Compensation:** - Carleton M. Miller, CEO, received a total compensation of $539,568 in 2024, including a salary of $372,923 and a bonus of $148,600. - Michael C. Bond, CFO, received a total compensation of $344,772 in 2024, including a salary of $274,625 and a bonus of $60,500. - The company's executive compensation philosophy focuses on aligning executive interests with those of stockholders and fostering a culture of ownership among management. **Director Compensation:** - Non-employee directors received cash retainers ranging from $65,553 to $93,553 in 2024, with additional retainers for committee service. - In lieu of annual equity awards, directors received cash payments representing the difference between $40,000 and the value of restricted stock granted in 2022. **Stock Ownership:** - As of May 1, 2025, Carleton M. Miller owned 5.98% of the company's common stock, and Michael C. Bond owned 1.15%. - Hale Capital Partners, LP owned 15.3% of the company's common stock. **Market Position Changes:** - The company voluntarily delisted its common stock from The Nasdaq Capital Market and began trading on the OTCQB Venture Market to reduce costs and improve operational efficiencies. **Risk Factors:** - The company's risk oversight is managed by the Board and its committees, with a focus on operational matters, financial risk exposures, and corporate governance risks. **Future Outlook:** - The amendment does not provide specific forward-looking statements. However, the company's strategic overview and risk management practices suggest a focus on operational efficiency and alignment with stockholder interests. **Financial Condition:** - The amendment does not provide detailed information on the company's financial condition. However, the updates to executive and director compensation, as well as the delisting from Nasdaq, may indicate a focus on cost management and operational efficiency.