A2Z Smart Technologies Corp Files 20-F Annual Report
Ticker: AZ · Form: 20-F · Filed: Apr 3, 2024 · CIK: 1866030
| Field | Detail |
|---|---|
| Company | A2z Smart Technologies Corp (AZ) |
| Form Type | 20-F |
| Filed Date | Apr 3, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $83.5 million, $17.8 million, $19.3 million, $39.8 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: 20-F Filing, Annual Report, A2Z Smart Technologies, Financials, IFRS
TL;DR
<b>A2Z Smart Technologies Corp has filed its annual 20-F report detailing its 2023 fiscal year operations and financial standing.</b>
AI Summary
A2Z Smart Technologies Corp (AZ) filed a Foreign Annual Report (20-F) with the SEC on April 3, 2024. A2Z Smart Technologies Corp filed its 20-F annual report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 559 Briar Hill Avenue, Toronto, A6, M5N 1N1. A2Z Smart Technologies Corp is classified under SIC code 3569 for General Industrial Machinery & Equipment, NEC. The filing was made on April 3, 2024, as of April 2, 2024.
Why It Matters
For investors and stakeholders tracking A2Z Smart Technologies Corp, this filing contains several important signals. This 20-F filing provides a comprehensive overview of A2Z Smart Technologies Corp's financial performance and business operations for the fiscal year 2023, crucial for investors to assess the company's health and future prospects. As a foreign private issuer, the 20-F filing is the primary annual disclosure document for A2Z Smart Technologies Corp, offering insights into its governance, risk factors, and financial statements under IFRS.
Risk Assessment
Risk Level: low — A2Z Smart Technologies Corp shows low risk based on this filing. The filing is a standard annual report (20-F) and does not contain immediate, significant new financial data or strategic shifts that would indicate high risk.
Analyst Insight
Review the detailed financial statements and risk factors within the 20-F filing to understand A2Z Smart Technologies Corp's performance and potential challenges.
Key Numbers
- 2023-12-31 — Fiscal Year End (Reporting period)
- 2024-04-03 — Filing Date (Date the 20-F was filed)
- 001-40472 — SEC File Number (Company's SEC file number)
Key Players & Entities
- A2Z Smart Technologies Corp (company) — Filer of the 20-F report
- 2024-04-03 (date) — Filing date
- 2023-12-31 (date) — Fiscal year end
- 559 Briar Hill Avenue, Toronto, A6, M5N 1N1 (address) — Business and mailing address
- 3569 (sic_code) — General Industrial Machinery & Equipment, NEC
- 0001493152-24-012884 (accession_number) — SEC Accession Number
FAQ
When did A2Z Smart Technologies Corp file this 20-F?
A2Z Smart Technologies Corp filed this Foreign Annual Report (20-F) with the SEC on April 3, 2024.
What is a 20-F filing?
A 20-F is a annual report for foreign private issuers, equivalent to a 10-K but following international reporting standards. This particular 20-F was filed by A2Z Smart Technologies Corp (AZ).
Where can I read the original 20-F filing from A2Z Smart Technologies Corp?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by A2Z Smart Technologies Corp.
What are the key takeaways from A2Z Smart Technologies Corp's 20-F?
A2Z Smart Technologies Corp filed this 20-F on April 3, 2024. Key takeaways: A2Z Smart Technologies Corp filed its 20-F annual report for the fiscal year ending December 31, 2023.. The filing covers the period from January 1, 2023, to December 31, 2023.. The company's principal executive offices are located at 559 Briar Hill Avenue, Toronto, A6, M5N 1N1..
Is A2Z Smart Technologies Corp a risky investment based on this filing?
Based on this 20-F, A2Z Smart Technologies Corp presents a relatively low-risk profile. The filing is a standard annual report (20-F) and does not contain immediate, significant new financial data or strategic shifts that would indicate high risk.
What should investors do after reading A2Z Smart Technologies Corp's 20-F?
Review the detailed financial statements and risk factors within the 20-F filing to understand A2Z Smart Technologies Corp's performance and potential challenges. The overall sentiment from this filing is neutral.
How does A2Z Smart Technologies Corp compare to its industry peers?
A2Z Smart Technologies Corp operates in the General Industrial Machinery & Equipment sector. As a foreign private issuer, its annual disclosures are made via Form 20-F.
Are there regulatory concerns for A2Z Smart Technologies Corp?
The company is subject to SEC regulations for foreign private issuers, requiring annual filings on Form 20-F, which adheres to IFRS standards.
Industry Context
A2Z Smart Technologies Corp operates in the General Industrial Machinery & Equipment sector. As a foreign private issuer, its annual disclosures are made via Form 20-F.
Regulatory Implications
The company is subject to SEC regulations for foreign private issuers, requiring annual filings on Form 20-F, which adheres to IFRS standards.
What Investors Should Do
- Analyze the financial statements within the 20-F for revenue, net income, and other key performance indicators.
- Review the business overview and risk factors sections to understand the company's operational landscape and potential challenges.
- Compare the 2023 financial data with previous years to identify trends and assess performance changes.
Key Dates
- 2024-04-03: Filing of 20-F Annual Report — Official disclosure of the company's annual financial and operational information for FY2023.
- 2023-12-31: Fiscal Year End — Marks the end of the reporting period covered by the 20-F filing.
Year-Over-Year Comparison
This is the initial filing of the 20-F for the fiscal year 2023, providing the first comprehensive look at the company's performance for this period.
Filing Stats: 4,533 words · 18 min read · ~15 pages · Grade level 14.9 · Accepted 2024-04-02 20:30:46
Key Financial Figures
- $83.5 million — , the Company had accumulated losses of $83.5 million and a comprehensive loss in the amount
- $17.8 million — d a comprehensive loss in the amount of $17.8 million for the year ended December 31, 2023. A
- $19.3 million — n for the year ended December 31, 2023, $19.3 million for the year ended December 31, 2022, a
- $39.8 million — r the year ended December 31, 2022, and $39.8 million for the year ended December 31, 2021. T
Filing Documents
- form20-f.htm (20-F) — 3434KB
- ex8-1.htm (EX-8.1) — 8KB
- ex12-1.htm (EX-12.1) — 9KB
- ex12-2.htm (EX-12.2) — 16KB
- ex13-1.htm (EX-13.1) — 6KB
- ex13-2.htm (EX-13.2) — 6KB
- ex15-1.htm (EX-15.1) — 12KB
- ex97-1.htm (EX-97.1) — 62KB
- form20-f_001.jpg (GRAPHIC) — 49KB
- ex15-1_001.jpg (GRAPHIC) — 3KB
- 0001493152-24-012884.txt ( ) — 13803KB
- az-20231231.xsd (EX-101.SCH) — 114KB
- az-20231231_cal.xml (EX-101.CAL) — 102KB
- az-20231231_def.xml (EX-101.DEF) — 275KB
- az-20231231_lab.xml (EX-101.LAB) — 607KB
- az-20231231_pre.xml (EX-101.PRE) — 482KB
- form20-f_htm.xml (XML) — 3036KB
SIGNATURES
SIGNATURES 76 FINANCIAL F- 1 2 INTRODUCTION Unless otherwise indicated, all references in this Annual Report on Form 20-F to "A2Z," "we," "our," "us," "the company" or similar terms refer to A2Z Smart Technologies Corp. and its consolidated subsidiaries. We publish our consolidated
financial statements in US dollars. In this Annual Report, unless otherwise specified, all references to "quot; or "USquot;
financial statements in US dollars. In this Annual Report, unless otherwise specified, all references to "
quot; or "USquot; means to the lawful currency of the United States, to "CADquot; to the lawful currency of Canada and to "NIS" are to lawful currency of Israel. This Annual Report on Form 20-F contains our audited consolidated financial statements and related notes for the years ended December 31, 2023, 2022, and 2021 ("Annual Financial Statements"). Our Annual Financial Statements have been prepared in accordance with International Financial Reporting Standards ("IFRS"), as issued by the International Accounting Standards Board ("IASB"). CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report contains forward-looking statements. These statements are neither historical facts nor assurances of future performance. Instead, they are based on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, and other future conditions. Forward-looking statements can be identified by words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "predict," "project," "target," "potential," "will," "would," "could," "should," "continue," and other similar expressions, although not all forward-looking statements contain these identifying words. These forward-looking statements include all matters that are not historical facts. They appear in many places throughout this Annual Report and include statements regarding our intentions, beliefs or current expectations concerning, among other things, our results of operations, financial condition, liquidity, business prospects, growth, strategies, expectations regarding industry trends and the size and growth rates of addressable markets, our business plan and growth strategies, including plans for expansion to new markets and new products, and the industry in which we operate. Risks which could affect future results and coulRisk Factors
Risk Factors Risks Related to the Company's Financial Position and Capital Requirements The Company's current dependency on external funding for its operations raises a substantial doubt about the Company's ability to continue as a going concern. If we do not continue as a going concern, investors could lose their entire investment. The consolidated financial statements of the Company have been prepared assuming that the Company will continue as a going concern. The Company has incurred recurring losses and negative cash flows from operating activities since inception, such that as of December 31, 2023, the Company had accumulated losses of $83.5 million and a comprehensive loss in the amount of $17.8 million for the year ended December 31, 2023. As of the date of this Annual Report, the Company has not yet commenced generating sufficient revenues to fund its operations, and therefore depends on fundraising from new and existing investors to finance its activities. There can be no assurance that we will ever become profitable or continue as a going concern. The Company has incurred significant losses and there can be no assurance when, or if, the Company will achieve or maintain profitability. The Company realized a comprehensive loss of approximately $17.8 million for the year ended December 31, 2023, $19.3 million for the year ended December 31, 2022, and $39.8 million for the year ended December 31, 2021. The Company has an accumulated deficit of $83.5 million as of December 31, 2023. Because of the numerous risks and uncertainties associated with the provision of the Company's maintenance services and sale and development of the Company's products, the Company is unable to predict the extent of any future losses or when the Company will become profitable, if at all. Expected future operating losses will have an adverse effect on the Company's cash resources, shareholders' equity and working capital. The Company's failure to become and remain profitable