BOS Better Online Solutions Ltd. Files 2023 Annual Report on Form 20-F

TL;DR

<b>BOS Better Online Solutions Ltd. has filed its 2023 annual report on Form 20-F, detailing its financial performance and corporate information.</b>

AI Summary

BOS BETTER ONLINE SOLUTIONS LTD (BOSC) filed a Foreign Annual Report (20-F) with the SEC on April 1, 2024. BOS Better Online Solutions Ltd. filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The company's ordinary shares trade on the Nasdaq Capital Market under the symbol BOSC. As of December 31, 2023, and March 15, 2024, there were 5,748,018 ordinary shares outstanding. The filing was made with the SEC on April 1, 2024. The company is incorporated in Israel and its principal executive offices are located in Rishon LeZion.

Why It Matters

For investors and stakeholders tracking BOS BETTER ONLINE SOLUTIONS LTD, this filing contains several important signals. This filing provides investors with a comprehensive overview of the company's operations and financial standing for the fiscal year 2023, enabling informed investment decisions. The report confirms the company's listing on the Nasdaq Capital Market and the number of outstanding shares, offering transparency on its capital structure.

Risk Assessment

Risk Level: low — BOS BETTER ONLINE SOLUTIONS LTD shows low risk based on this filing. The filing is a standard annual report (20-F) and does not contain immediate material changes or significant new risks beyond typical disclosures for a publicly traded company.

Analyst Insight

Review the full 20-F filing for detailed financial statements, management discussion, and risk factors to understand the company's performance and outlook.

Key Numbers

• 5,748,018 — Ordinary Shares Outstanding (As of December 31, 2023 and March 15, 2024)
• 20231231 — Fiscal Year End (Period covered by the report)
• 20240401 — Filing Date (Date the report was filed)

Key Players & Entities

• BOS BETTER ONLINE SOLUTIONS LTD (company) — Registrant
• Nasdaq Capital Market (company) — Exchange where Ordinary Shares are registered
• BOSC (company) — Trading Symbol
• Eyal Cohen (person) — Company Contact Person
• Securities and Exchange Commission (regulator) — Filing recipient

FAQ

Risk Factors

• General Disclosure Requirements [low — regulatory]: As a foreign private issuer, the company is subject to SEC reporting requirements under the Securities Exchange Act of 1934, including the filing of annual reports on Form 20-F.

Industry Context

BOS Better Online Solutions Ltd. operates in the computer communications equipment industry, as indicated by its SIC code.

Regulatory Implications

The company is required to file annual reports on Form 20-F with the SEC as a foreign private issuer, adhering to US securities regulations.

What Investors Should Do

1. Thoroughly review the financial statements and Management's Discussion and Analysis (MD&A) section within the Form 20-F.
2. Examine the Risk Factors section for any new or evolving risks that could impact the company's future performance.
3. Monitor future SEC filings for updates on the company's operational and financial developments.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the annual financial statements.
• 2024-04-01: Filing Date — Date the Form 20-F was officially submitted to the SEC.

Year-Over-Year Comparison

This filing is the annual report for the fiscal year ended December 31, 2023, and serves as the primary disclosure document for the period.

Key Financial Figures

• $67.1 million — 2023, we had an accumulated deficit of $67.1 million. We had a net income of $2.06 million i
• $2.06 million — f $67.1 million. We had a net income of $2.06 million in 2023 and a net income of $1.28 milli
• $1.28 million — .06 million in 2023 and a net income of $1.28 million in 2022 and a net income of $451,000 in
• $451,000 — .28 million in 2022 and a net income of $451,000 in 2021. Our ability to maintain and im
• $1.15 million — iaries. As of December 31, 2023, we had $1.15 million in long term debt to Bank Leumi and Ban
• $0.17 million — Beinleumi, net of current maturities of $0.17 million. Our assets are subject to a security
• $3.3 million — in Israel. These purchases amounted to $3.3 million. A disruption in our business relations
• $287,000 — ts as of December 31, 2023, amounted to $287,000, which was determined by our management

Filing Documents

• ea0202881-20f_bosbetter.htm (20-F) — 1960KB
• ea020288101ex4-2_bosbetter.htm (EX-4.2) — 183KB
• ea020288101ex12-1_bosbetter.htm (EX-12.1) — 13KB
• ea020288101ex12-2_bosbetter.htm (EX-12.2) — 13KB
• ea020288101ex13-1_bosbetter.htm (EX-13.1) — 6KB
• ea020288101ex23-1_bosbetter.htm (EX-23.1) — 4KB
• ea020288101ex97-1_bosbetter.htm (EX-97.1) — 54KB
• img_001.jpg (GRAPHIC) — 124KB
• img_002.jpg (GRAPHIC) — 5KB
• ex23-1_001.jpg (GRAPHIC) — 16KB
• 0001213900-24-028176.txt (&nbsp;) — 9352KB
• bosc-20231231.xsd (EX-101.SCH) — 77KB
• bosc-20231231_cal.xml (EX-101.CAL) — 54KB
• bosc-20231231_def.xml (EX-101.DEF) — 298KB
• bosc-20231231_lab.xml (EX-101.LAB) — 621KB
• bosc-20231231_pre.xml (EX-101.PRE) — 314KB
• ea0202881-20f_bosbetter_htm.xml (XML) — 1500KB

: IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISORS

ITEM 1: IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISORS 1

: OFFER STATISTICS AND EXPECTED TIME TABLE

ITEM 2: OFFER STATISTICS AND EXPECTED TIME TABLE 1

: KEY INFORMATION REGARDING B.O.S

ITEM 3: KEY INFORMATION REGARDING B.O.S. 1

: [RESERVED ]

ITEM 3A: [RESERVED ] 1

: INFORMATION ON THE COMPANY

ITEM 4: INFORMATION ON THE COMPANY 14

: UNRESOLVED STAFF COMMENTS

ITEM 4A: UNRESOLVED STAFF COMMENTS 20

: OPERATING AND FINANCIAL REVIEW AND PROSPECTS

ITEM 5: OPERATING AND FINANCIAL REVIEW AND PROSPECTS 20

- Critical Accounting Estimates

ITEM 5E - Critical Accounting Estimates 26

: DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES

ITEM 6: DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 29

: MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS

ITEM 7: MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 41

: FINANCIAL INFORMATION

ITEM 8: FINANCIAL INFORMATION 42

: THE OFFER AND LISTING

ITEM 9: THE OFFER AND LISTING 43

: ADDITIONAL INFORMATION

ITEM 10: ADDITIONAL INFORMATION 44

: QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK

ITEM 11: QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK 57

: DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

ITEM 12: DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 58 PART II 59

: DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES

ITEM 13: DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 59

: MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS

ITEM 14: MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 59

: CONTROLS AND PROCEDURES

ITEM 15: CONTROLS AND PROCEDURES 59 i

: [RESERVED]

ITEM 16: [RESERVED] 60

: AUDIT COMMITTEE FINANCIAL EXPERT

ITEM 16A: AUDIT COMMITTEE FINANCIAL EXPERT 60

: CODE OF ETHICS

ITEM 16B: CODE OF ETHICS 60

: PRINCIPAL ACCOUNTANT FEES AND SERVICES

ITEM 16C: PRINCIPAL ACCOUNTANT FEES AND SERVICES 60

: EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES

ITEM 16D: EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 60

: PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS

ITEM 16E: PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 61

: CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT

ITEM 16F: CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 61

: CORPORATE GOVERNANCE

ITEM 16G: CORPORATE GOVERNANCE 61

: MINE SAFETY DISCLOSURES

ITEM 16H: MINE SAFETY DISCLOSURES 61

: Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

ITEM 16I: Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 61

: INSIDER TRADING PLANS

ITEM 16J: INSIDER TRADING PLANS 61

: CYBERSECURITY

ITEM 16K: CYBERSECURITY 61 PART III 62

: FINANCIAL STATEMENTS

ITEM 17: FINANCIAL STATEMENTS 62

: FINANCIAL STATEMENTS

ITEM 18: FINANCIAL STATEMENTS 62

: EXHIBITS

ITEM 19: EXHIBITS 6 2

SIGNATURES

SIGNATURES 64 ii PART I Item 1: Identity of Directors, Senior Management and Advisors Not applicable. Item 2: Offer Statistics and Expected Timetable Not applicable. Item 3: Key Information Regarding BOS Unless the context in which such terms are used would require a different meaning, all references to "BOS", "we", "our" or the "Company" refer to B.O.S. Better Online Solutions Ltd. and its subsidiaries. 3A: [Reserved] 3B. Capitalization and Indebtedness Not applicable. 3C. Reasons for the Offer and Use of proceeds Not applicable. 3D. Risk Factors The following risk factors, in addition to other information contained or incorporated by reference in this Form 20-F, should be considered carefully. Our business, financial condition or results of operations could be materially adversely affected by any of these risks. The risks described below are not the only risks facing our Company. Additional risks and uncertainties that we are not aware of or that we currently believe are immaterial may also adversely affect our business, financial condition, results of operation and liquidity. The trading price of our Ordinary Shares could decline due to any of these risks, and you may lose all or part of your investment. Risks relating to our financial results and capital structure: We have had a history of losses and our future levels of sales and ability to achieve profitability are unpredictable. As of December 31, 2023, we had an accumulated deficit of $67.1 million. We had a net income of $2.06 million in 2023 and a net income of $1.28 million in 2022 and a net income of $451,000 in 2021. Our ability to maintain and improve future levels of sales and profitability depends on many factors, which include delivering products in a timely manner; successfully implementing our business strategy; Our ability to access additional debt or equity financing to finance our growth, which may be difficult, depending on the conditions in the ca

View Full Filing

View this 20-F filing on SEC EDGAR