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Rego Payment Architectures Inc (RPMT-2.32%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing indicates that the company has not generated significant revenue since its inception. The company reported a net loss attributable to common stockholders of $11.6 million for the year ended December 31, 2024, compared to $18.9 million for the previous year.
Operating expenses for the year were $7.9 million, down from $15.8 million in 2023. This decrease was largely due to a reduction in general and administrative expenses, which fell from $10.8 million in 2023 to $3.7 million in 2024.
The company continues to focus on its Mazoola® Digital Wallet Platform, targeting the FinTech industry through licensing and partnership agreements. The platform is designed to enable minors to transact and learn financial management in a secure online environment.
Rego Payment Architectures Inc maintains a portfolio of trade secrets and four US patent awards. The company plans to monetize its platform through subscription revenue, service fees, transaction fees, and revenue sharing with banking and distribution partners.
The company has a cash position of approximately $1.6 million as of March 31, 2025, and management believes it can finance operations through June 2025. Rego acknowledges the need to generate additional revenue to sustain its operations beyond this period.
Rego's management is exploring strategic alternatives, including potential sales or mergers, to enhance shareholder value. The company terminated its agreement with a merchant bank engaged in a consultative capacity due to the incapacity of the principal and is assessing the retention of a replacement advisor.
Rego Payment Architectures Inc's stock is quoted on the OTC QB market under the trading symbol 'RPMT.OB'. The company has not declared or paid any cash dividends and does not anticipate doing so in the foreseeable future.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Rego Payment Architectures Inc annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.