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About Vemanti Group
From its filings with the US Securities and Exchange Commission
Vemanti Group is based in Irvine, California and is incorporated in Nevada. Its shares trade on OTC under the ticker VMNT. The SEC classifies its business as finance services. In the fiscal year to 31 December 2023, it reported revenue of $123,056 and a net loss of $1.5m. At that date it held total assets of $144,941 and shareholders' equity of −$172,370.
The Chief Executive Officer (“CEO”) of Vemanti Group, Inc. (“Vemanti”), Mr. Tan Tran, together with Mark Wehberg, incorporated VoiceStep Telecom, LLC, a California limited liability company, on January 27, 2005 (“VoiceStep”). The purpose was to offer digital voice telecommunications services based on Voice over Internet Protocol (“VoIP”), which were provisioned via the internet instead of over traditional fixed lines. The majority of VoiceStep’s business was entirely dedicated to serving smaller and prepaid long-distance (“LD”) carriers (e.g., International calling card providers) with competitive inbound and outbound services compared to similar products from the incumbent and bigger carriers. VoiceStep built up its customer base through direct marketing and sales as well as re-sellers. On January 22, 2014, Mr. Tran purchased the membership interest in VoiceStep owned by Mr. Wehberg.
Vemanti Group, Inc. was incorporated by Mr. Tan Tran on April 3, 2014, under the laws of the state of Nevada. The Company was created to be a holding company for VoiceStep and other future acquisitions. Simultaneous with the incorporation of the Company, Mr. Tan, the sole member of VoiceStep, exchanged one hundred percent (100%) of his membership interests in VoiceStep for shares of Vemanti’s capital stock, effecting a change of control and making VoiceStep a wholly owned subsidiary of the Company.
Quoted from its 10-K, filed 28 Mar 2024. Read the filing on SEC.gov ↗
Company facts
- Sector
- Communication Services
- Industry
- Diversified Telecommunication Services
- Listed since
- 12 Nov 2015
- Website
- vemanti.com ↗
- Head office
- 7545 IRVINE CENTER DR., IRVINE, CA, 92618
- Incorporated in
- NV
- Classification
- Finance Services
- Filer status
- <br>Emerging growth company
Leadership
Pay as last reported
- Mr. Eric VuongChairman of the Board
- Mr. Tan TranPresident, Chief Executive Officer, since 2014
- Mr. Stephen JonesChief Financial Officer
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 0
- Environment
- 0
- Social
- 0
- Governance
- 0
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- VoiceStep provides cloud-based enterprise-grade communications solutions to US small to medium-sized business customers.
- The firm seeks to generate revenue in the emerging markets of Vietnam and Southeast Asia.
- Vemanti Group focuses on blockchain applications combined with other emerging technologies for future development.
Weaknesses
- The company is headquartered in Irvine, California, which may limit local operational flexibility.
- Vemanti Group went public on 12 November 2015, establishing a specific listing date history.
- The firm relies on VoiceStep Telecom, LLC as its wholly owned subsidiary for current services.
Opportunities
- Digital banking platforms offer significant growth potential for the company's future product development strategy.
- Fintech applications can expand credit access for small to medium enterprises in target markets.
- Disruptive technologies aim to improve credit access for small to medium enterprises in emerging regions.
Threats
- Voice over Internet protocol services face intense competition from other US telecommunications providers.
- Emerging markets in Vietnam and Southeast Asia present regulatory and economic uncertainties for expansion.
- Dependence on small to medium-sized business customers creates vulnerability to broader economic downturns.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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