Beam Global Files 10-K/A Amendment for Fiscal Year Ended December 31, 2023

TL;DR

<b>Beam Global has filed an amendment to its 2023 annual report, focusing on restating Part III.</b>

AI Summary

Beam Global (BEEM) filed a Amended Annual Report (10-K/A) with the SEC on April 29, 2024. Beam Global filed an amendment (10-K/A) to its annual report for the fiscal year ending December 31, 2023. The filing is an amendment to restate Part III of the previous filing. The company's common stock trades on the Nasdaq Capital Market under the symbol BEEM. Beam Global was formerly known as Envision Solar International, Inc. and Casita Enterprises, Inc. The company is incorporated in Nevada and headquartered in San Diego, California.

Why It Matters

For investors and stakeholders tracking Beam Global, this filing contains several important signals. This amendment indicates a need to correct or supplement information previously provided in the original 10-K filing, potentially impacting investor understanding of the company's governance or executive compensation. The restatement of Part III, which typically covers matters like executive compensation, director information, and corporate governance, suggests potential changes or clarifications in these critical areas.

Risk Assessment

Risk Level: low — Beam Global shows low risk based on this filing. The filing is an amendment to a previous report, indicating a correction or update rather than new material events, thus posing a low immediate risk.

Analyst Insight

Investors should review the amended Part III of the 10-K filing to understand any changes related to corporate governance and executive compensation.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting Period)
• 2024-04-29 — Filing Date (Amendment Submission)
• 001-38868 — Commission File Number (SEC Registration)

Key Players & Entities

• Beam Global (company) — Registrant
• BEEM (company) — Trading Symbol
• Nasdaq Capital Market (company) — Principal U.S. Market
• Envision Solar International, Inc. (company) — Former Company Name
• Casita Enterprises, Inc. (company) — Former Company Name
• Nevada (company) — State of Incorporation
• San Diego, California (company) — Principal Executive Offices Location
• 2023-12-31 (date) — Fiscal Year End

FAQ

Industry Context

Beam Global operates in the renewable energy sector, focusing on solar-powered EV charging solutions.

Regulatory Implications

The filing is a standard SEC disclosure under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the amended Part III of the 10-K filing for updated information on corporate governance and executive compensation.
2. Monitor future filings for any further disclosures or changes stemming from this amendment.
3. Analyze the company's strategic direction and financial health in light of any clarified governance details.

Year-Over-Year Comparison

This is an amendment to the previously filed 10-K for the fiscal year ended December 31, 2023, specifically addressing Part III.

Key Financial Figures

• $0.001 — market on which traded Common stock, $0.001 par value BEEM Nasdaq Capital Market
• $500 million — due diligence and raised commitments of $500 million in debt and equity. Lisa Potok has ser
• $30 billion — avidson oversaw the program's more than $30 billion portfolio of loans and loan guarantees,
• $120,000 — ompany and have not been paid more than $120,000 of compensation by the Company, other t

Filing Documents

• beam_10ka.htm (10-K/A) — 211KB
• beam_ex3101.htm (EX-31.1) — 11KB
• beam_ex3102.htm (EX-31.2) — 11KB
• 0001683168-24-002822.txt (&nbsp;) — 632KB
• beem-20231231.xsd (EX-101.SCH) — 3KB
• beem-20231231_def.xml (EX-101.DEF) — 5KB
• beem-20231231_lab.xml (EX-101.LAB) — 80KB
• beem-20231231_pre.xml (EX-101.PRE) — 60KB
• beam_10ka_htm.xml (XML) — 6KB

through Item 14, and to update Item 15. The Part III information was previously omitted from the Original Filing

Item 10 through Item 14, and to update Item 15. The Part III information was previously omitted from the Original Filing in reliance on General Instruction G(3) to Form 10-K, which permits the information in the above referenced items to be incorporated in the Form 10-K by reference from our definitive proxy statement if such statement is filed no later than 120 days after our fiscal year-end. The information required by Items 10-14 of Part III is no longer being incorporated by reference to the proxy statement relating to our 2023 Annual Meeting of Stockholders. The reference on the cover of the Original Filing to the incorporation by reference to portions of our definitive proxy statement into Part III of the Original Filing is hereby deleted. This Amendment No. 1 is not intended to update any other information presented in the Original Filing. In addition, as required by Rule 12b-15 promulgated under the Securities Exchange Act of 1934, as amended, new certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 by our principal executive officer and principal financial officer are filed herewith as exhibits to this Amendment No.1. Because no financial statements have been included in this Amendment No. 1 and this Amendment No. 1 does not contain or amend any disclosure with respect to Items 307 and 308 of Regulation S-K, paragraphs 3, 4, and 5 of the certifications have been omitted. i TABLE OF CONTENTS PART III ITEM 10 Directors, Executive Officers, and Corporate Governance 1 ITEM 11

Executive Compensation

Executive Compensation 8 ITEM 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 14 ITEM 13 Certain Relationships and Related Transactions, and Director Independence 16 ITEM 14 Principal Accounting Fees and Services 16 PART IV ITEM 15 Exhibits and Financial Statement Schedules 18

Signatures

Signatures 20 ii PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE. Executive Officers and Directors The following table sets forth the names, ages and positions of our current executive officers and directors (ages as of April 25, 2024): Name Age Position Desmond Wheatley 58 President, Chief Executive Officer, and Chairman of the Board of Directors Lisa Potok 55 Chief Financial Officer Sandra Peterson 61 Vice President of Sales and Marketing Mark Myers 48 Chief Operating Officer Anthony Posawatz (1)(2) 64 Director Peter Davidson (1) 64 Director Judy Krandel (1) 59 Director George Syllantavos (1) 59 Director ______________________ (1) Member of the Audit, Compensation, Nominating & Governance, and Equity Oversight Committees (2) Lead Independent Director Biographies of Directors and Officers Desmond Wheatley has served as our president, chief operating officer, and secretary since September 2010. Mr. Wheatley was appointed chief executive officer and director in August 2011, and he became the chair of our board of directors in December 2016. He is an inventor of the EV ARC, BeamTrak, UAV ARC and EV Standard. Mr. Wheatley has two decades of senior international management experience in technology systems integration, energy management, communications and renewable energy. Prior to joining Beam Global, Mr. Wheatley was a founding partner in the international consulting practice Crichton Hill LLC in 2009 and he was chief executive officer of iAxis FZ LLC, a Dubai based alternative energy and technology systems integration company from 2007 to 2009. From 2000 to 2007, Mr. Wheatley held a variety of senior management positions at San Diego-based Kratos Defense and Security Solutions, formally known as Wireless Facilities, with the last five years as president of ENS (Enterprise Network Solutions, a division of Wireless Facilities Inc (NASDAQ: WFII now KTOS)), then the large

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View this 10-K/A filing on SEC EDGAR