Video River Networks, Inc 10-K for FY2020

Video River Networks, Inc. (NIHK)

10-K 2021-04-14 For: 2020-12-31

Added on April 06, 2026

About this 10-K

Video River Networks, Inc filed this 10-K on April 14, 2021, covering the fiscal year ended December 31, 2020 (FY2020).

Headline figures

Fiscal year ended December 31, 2020, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $1.63M; up 350791.4% from $464 a year earlier
Net loss: $82.98K; compared with a net loss of $85 a year earlier

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Nevada		87-0627349
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

370 Amapola Ave., Suite 200A
Torrance, California		90501
(Address of principal executive offices)		(Zip Code)

		Page
PART I
Item 1	Business	5
Item 1A	Risk Factors	20
Item 2	Properties	42
Item 3	Legal Proceedings	42
Item 4	Mine Safety Disclosures.	43

PART II
Item 5	Market for Registrant’s Common Equity and Related Stockholder Matters	43
Item 6	Selected Financial Data	44
Item 7	Management’s Discussion and Analysis of Financial Condition and Results of Operation	44
Item 8	Financial Statements and Supplementary Data	53
Item 9	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	72
Item 9A	Controls and Procedures	73
Item 9B	Other Information	74

PART III
Item 10	Directors and Executive Officers and Corporate Governance	74
Item 11	Executive Compensation	77
Item 12	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	79
Item 13	Certain Relationships and Related Transactions, and Director Independence	80
Item 14	Principal Accountant Fees and Services	82

PART IV
Item 15	Exhibits and Financial Statement Schedules	82
Signatures		84
Exhibit		85

	·	*Affordable Housing.* Our motto is: “acquire distressed/troubled properties, secure generous government subsidies, empower low-income families, and generate above-market returns to investors.”
	·	*Preserving Financial Flexibility on our Balance Sheet.* We intend to maintain a conservative capital structure, in order to provide us flexibility in financing our growth initiatives.

	●	Competitors may develop alternatives that render our products redundant or unnecessary;
	●	We may not obtain and maintain sufficient protection of our electric vehicles models;
	●	Our electric vehicles products may not become widely accepted by consumers and merchants; and
	●	We may not be able to raise sufficient additional funds to fully implement our business plan and grow our business.
	●

	●	Our Auditor has expressed substantial doubt as to our ability to continue as a going concern.
	●	Our limited operating history does not afford investors a sufficient history on which to base an investment decision.
	●	Our revenues will be dependent upon acceptance of our Electric Vehicle brand/models and product line by consumers and distributors. The failure of such acceptance will cause us to curtail or cease operations.
	●	We cannot be certain that we will obtain patents for our product line or that such patents will protect us. Infringement or misappropriation claims (or claims for indemnification resulting from such claims) against us may be asserted or prosecuted, regardless of their merit, and any such assertions or prosecutions may adversely affect our business and/or our operating results.
	●	The availability of a large number of authorized but unissued shares of Common Stock may, upon their issuance, lead to dilution of existing stockholders.
	●	Our stock is thinly traded, sale of your holding may take a considerable amount of time.

x	ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2020

	OR

o	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

	Video River Networks, Inc.
	(Exact name of registrant as specified in its Charter)


•	Major metropolitan areas that have regional population in excess of one million;


•	Constraints on new supply driven by: (i) low availability of developable land sites where competing housing could be economically built; (ii) political growth barriers, such as protected land, urban growth boundaries, and potential lengthy and expensive development permit processes; and (iii) natural limitations to development, such as mountains or waterways;


•	Rental demand enhanced by affordability of rents relative to costs of for-sale housing; and


•	Housing demand based on job growth, proximity to jobs, high median incomes and the quality of life including related commuting factors.


•	Property Management – Oversee delivery and quality of the housing provided to our tenants and manage the properties financial performance.


•	Capital Preservation – The Company's asset management services are responsible for the planning, budgeting and completion of major capital improvement projects at the Company’s multifamily properties.


•	Business Planning and Control – Comprehensive business plans are implemented in conjunction with significant investment decisions. These plans include benchmarks for future financial performance based on collaborative discussions between on-site managers, the operations leadership team, and senior management.


•	Development and Redevelopment – The Company focuses on acquiring and developing apartment multifamily properties in supply constrained markets, and redeveloping its existing multifamily properties to improve the financial and physical aspects of the Company’s multifamily properties.

	•	the inability or unwillingness of current battery manufacturers to build or operate battery cell manufacturing plants to supply the numbers of lithium-ion cells required to support the growth of the electric or plug-in hybrid vehicle industry as demand for such cells increases;

	•	disruption in the supply of cells due to quality issues or recalls by the battery cell manufacturers; and

	•	an increase in the cost of raw materials, such as cobalt, used in lithium-ion cells.

	•		perceptions about electric vehicle quality, safety (in particular with respect to lithium-ion battery packs), design, performance and cost, especially if adverse events or accidents occur that are linked to the quality or safety of electric vehicles;
	•		perceptions about vehicle safety in general, in particular safety issues that may be attributed to the use of advanced technology, including vehicle electronics and regenerative braking systems, such as the possible perception that Toyota’s recent vehicle recalls may be attributable to these systems;
	•		the limited range over which electric vehicles may be driven on a single battery charge;
•		the decline of an electric vehicle’s range resulting from deterioration over time in the battery’s ability to hold a charge;
•		concerns about electric grid capacity and reliability, which could derail our past and present efforts to promote electric vehicles as a practical solution to vehicles which require gasoline;
•		the availability of alternative fuel vehicles, including plug-in hybrid electric vehicles;
•		improvements in the fuel economy of the internal combustion engine;
•		the availability of service for electric vehicles;

•		consumers’ desire and ability to purchase a luxury automobile or one that is perceived as exclusive;
•		the environmental consciousness of consumers;
•		volatility in the cost of oil and gasoline;
•		consumers’ perceptions of the dependency of the United States on oil from unstable or hostile countries;
•		government regulations and economic incentives promoting fuel efficiency and alternate forms of energy;
•		access to charging stations, standardization of electric vehicle charging systems and consumers’ perceptions about convenience and cost to charge an electric vehicle;
•		the availability of tax and other governmental incentives to purchase and operate electric vehicles or future regulation requiring increased use of nonpolluting vehicles;
•		perceptions about and the actual cost of alternative fuel; and
•		macroeconomic factors.


•	changes in the general or local economic climate, including layoffs, plant closings, industry slowdowns, relocations of significant local employers and other events negatively impacting local employment rates and wages and the local economy;


•	the attractiveness and desirability of our multifamily properties to tenants, including, without limitation, our technology offerings and our ability to identify and cost effectively implement new, relevant technologies, and to keep up with constantly changing consumer demand for the latest innovations;


•	local economic conditions in which the multifamily properties are located, such as oversupply of housing or a reduction in demand for rental housing;


•	inflationary environments in which the costs to operate and maintain multifamily properties increase at a rate greater than our ability to increase rents, or deflationary environments where we may be exposed to declining rents more quickly under our short-term leases;


•	changes in rent control or stabilization laws or other laws regulating housing;


•	the Company’s ability to provide for adequate maintenance and insurance;


•	declines in the financial condition of our tenants, which may make it more difficult for us to collect rents from some tenants;


•	tenants' perceptions of the safety, convenience and attractiveness of our multifamily properties and the neighborhoods where they are located; and


•	funds may be expended and management's time devoted to projects that may not be completed on time or at all;


•	construction costs of a project may exceed original estimates possibly making the project economically unfeasible;
•	projects may be delayed due to, without limitation, adverse weather conditions, labor or material shortage, or environmental remediation;


•	occupancy rates and rents at a completed project may be less than anticipated;


•	expenses at completed development or redevelopment projects may be higher than anticipated, including, without limitation, due to costs of environmental remediation or increased costs for labor, materials and leasing;


•	we may be unable to obtain, or experience a delay in obtaining, necessary zoning, occupancy, or other required governmental or third party permits and authorizations, which could result in increased costs or delay or abandonment of opportunities;


•	we may be unable to obtain financing with favorable terms, or at all, for the proposed development or redevelopment of a community, which may cause us to delay or abandon an opportunity; and


•	we may incur liabilities to third parties during the development process, for example, in connection with managing existing improvements on the site prior to tenant terminations and demolition (such as commercial space) or in connection with providing services to third parties (such as the construction of shared infrastructure or other improvements.)


•	the economic climate, which may be adversely impacted by a reduction in jobs or income levels, industry slowdowns, changing demographics and other factors;


•	local conditions, such as oversupply of, or reduced demand for, apartment homes;


•	declines in household formation or employment or lack of employment growth;


•	rent control or stabilization laws, or other laws regulating rental housing, which could prevent the Company from raising rents to offset increases in operating costs, or the inability or unwillingness of tenants to pay rent increases;


•	competition from other available apartments and other housing alternatives and changes in market rental rates;


•	economic conditions that could cause an increase in our operating expenses, including increases in property taxes, utilities and routine maintenance; and


•	regional specific acts of nature (e.g., earthquakes, fires, floods, etc.).