Fuel Doctor Holdings, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Fuel Doctor Holdings, Inc. has filed its 2023 10-K annual report, detailing its corporate structure and filing status.</b>

AI Summary

FUEL DOCTOR HOLDINGS, INC. (CHEV) filed a Annual Report (10-K) with the SEC on March 12, 2024. Fuel Doctor Holdings, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company is incorporated in Delaware and has its principal executive offices in Tel Aviv, Israel. Fuel Doctor Holdings, Inc. is registered under the SIC code 5013 for Wholesale - Motor Vehicle Supplies & New Parts. The company's common stock, par value $0.0001 per share, is registered pursuant to Section 12(g) of the Act. The filing indicates that Fuel Doctor Holdings, Inc. is a non-accelerated filer, a smaller reporting company, and an emerging growth company.

Why It Matters

For investors and stakeholders tracking FUEL DOCTOR HOLDINGS, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Fuel Doctor Holdings, Inc.'s financial performance and operational status for the fiscal year 2023, which is crucial for investors to assess the company's health and future prospects. The classification as a non-accelerated, smaller reporting, and emerging growth company provides specific context for how the company is regulated and the level of financial disclosure required, impacting investor analysis.

Risk Assessment

Risk Level: low — FUEL DOCTOR HOLDINGS, INC. shows low risk based on this filing. The risk is low as this is a standard annual report filing (10-K) which provides routine corporate and financial information, without immediate indications of significant adverse events or performance issues.

Analyst Insight

Investors should review the full 10-K filing for detailed financial statements, risk factors, and management discussion to form a comprehensive investment thesis.

Key Numbers

• 20231231 — Fiscal Year End (December 31, 2023)
• 20240312 — Filing Date (March 12, 2024)
• 000-56253 — SEC File Number (Commission file number)
• 26-2274999 — IRS Employer Identification No. (IRS number)
• 5013 — SIC Code (Wholesale-Motor Vehicle Supplies & New Parts)

Key Players & Entities

• FUEL DOCTOR HOLDINGS, INC. (company) — Exact name of registrant
• 20231231 (date) — Fiscal year ended
• 20240312 (date) — Filed as of date
• Delaware (jurisdiction) — State of Incorporation
• 26-2274999 (identifier) — I.R.S Employer Identification No.
• 20 Raul Wallenberg Street, Tel Aviv, Israel (address) — Address of principal executive offices
• 000-56253 (identifier) — Commission file number
• Silverhill Management Services Inc (company) — Former company name

FAQ

Industry Context

The company operates within the wholesale of motor vehicle supplies and new parts industry, as indicated by its SIC code.

Regulatory Implications

The filing adheres to the requirements of the Securities Exchange Act of 1934, specifically Section 13 or 15(d), for annual reporting.

What Investors Should Do

1. Review the full 10-K for detailed financial statements and disclosures.
2. Analyze the company's classification as a non-accelerated filer, smaller reporting company, and emerging growth company.
3. Note the principal executive offices are located in Tel Aviv, Israel.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-03-12: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year ended December 31, 2023, as no prior year data is presented in this extract.

Key Financial Figures

• $0.0001 — (g) of the Act: Common Stock, par value $0.0001 per share. Indicate by check mark whe
• $1 — nslated using the rate of NIS 3.6270 to $1.00, based on the exchange rate reported
• $7.2 b — November 2021, and includes a budget of $7.2 billion, designated solely to EV charging

Filing Documents

• ea0200626-10k_fueldoctor.htm (10-K) — 762KB
• ea020062601ex4-1_fuel.htm (EX-4.1) — 9KB
• ea020062601ex21-1_fuel.htm (EX-21.1) — 3KB
• ea020062601ex31-1_fuel.htm (EX-31.1) — 12KB
• ea020062601ex31-2_fuel.htm (EX-31.2) — 12KB
• ea020062601ex32-1_fuel.htm (EX-32.1) — 5KB
• ea020062601ex32-2_fuel.htm (EX-32.2) — 5KB
• image_001.jpg (GRAPHIC) — 15KB
• image_002.jpg (GRAPHIC) — 14KB
• image_003.jpg (GRAPHIC) — 25KB
• 0001213900-24-021834.txt (&nbsp;) — 4060KB
• fdoc-20231231.xsd (EX-101.SCH) — 41KB
• fdoc-20231231_cal.xml (EX-101.CAL) — 26KB
• fdoc-20231231_def.xml (EX-101.DEF) — 190KB
• fdoc-20231231_lab.xml (EX-101.LAB) — 337KB
• fdoc-20231231_pre.xml (EX-101.PRE) — 185KB
• ea0200626-10k_fueldoctor_htm.xml (XML) — 310KB

Business

Business 2 Item 1A.

Risk Factors

Risk Factors 8 Item 1B. Unresolved Staff Comments 21 Item 1C. Cybersecurity 21 Item 2.

Properties

Properties 21 Item 3.

Legal Proceedings

Legal Proceedings 21 Item 4. Mine Safety Disclosures 21 Part II 22 Item 5. Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 22 Item 6. [Reserved] 23 Item 7.

Management's Discussion and Analysis of Financial Condition

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 26 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data F-1 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 27 Item 9A.

Controls and Procedures

Controls and Procedures 27 Item 9B. Other Information 28 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 28 Part III 29 Item 10. Directors, Executive Officers and Corporate Governance 29 Item 11.

Executive Compensation

Executive Compensation 31 Item 12.

Security Ownership of Certain Beneficial Owners and Management and

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 33 Item 13. Certain Relationships and Related Transactions, and Director Independence 34 Item 14. Principal Accounting Fees and Services 35 Part IV 36 Item 15. Exhibits, Financial Statement Schedules 36

Signatures

Signatures 37 i PART I In this Annual Report on Form 10-K, unless the context requires otherwise, the terms "we," "our," "us," or "the Company" refer to Fuel Doctor Holdings, Inc., a Delaware corporation, and its wholly-owned subsidiary, Charging Robotics, Ltd. References to "U.S. dollars" and "$" are to currency of the United States of America, and references to "NIS" are to New Israeli Shekels. Unless otherwise indicated, U.S. dollar translations of NIS amounts presented in this Annual Report on Form 10-K for the year ended on December 31, 2023, are translated using the rate of NIS 3.6270 to $1.00, based on the exchange rate reported by the Bank of Israel on that date. On August 28, 2023, Fuel Doctor Holdings Inc. filed an amended and restated certificate of incorporation, or the Amended and Restated Certificate of Incorporation, to (i) change its name to Charging Robotics Inc., and (ii) effect a one-for-one hundred fifty reverse stock split, (the "Reverse Stock Split") of its outstanding shares of common stock, par value $0.0001 per share. The Company has submitted an Issuer Company-Related Action Notification Form to the Financial Industry Regulatory Authority, Inc. ("FINRA") regarding the foregoing name change and Reverse Stock Split. FINRA's approval of the name change and Reverse Stock Split is currently pending, and accordingly all information in this Annual Report on Form 10-K relating to shares or price per share does not reflect the 1-for-150 reverse stock split effected by us on August 28, 2023. The Company intends to file a subsequent Current Report on Form 8-K upon receipt of approval from FINRA announcing the effectiveness of the Name Change and Reverse Stock Split. CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "could", "expects", "plans", "intends", "anticipates",

BUSINESS

ITEM 1. BUSINESS About Charging Robotics Charging Robotics was formed in February 2021, as an Israeli corporation, with the main goal of developing an innovative wireless electric vehicles (EV) charging technology. At the heart of the technology is a wireless power transfer module that uses resonance induction coils to transfer electricity wirelessly. This module can be used for various products such as robotic and stationary platforms. The robotic platform will include a component which is small enough to fit under the vehicle, and which will automatically position itself for maximum-efficiency charging, and upon charging completion will automatically return to its docking station or to charge the next vehicle. In June 2023, the Company decided to focus its resources on supplying wireless charging solution for the Automated Parking System (APS) market. APSs are used to store vehicles automatically when a driver arrives to the parking facility, and retrieve them when such driver wishes to depart. The vehicles are stored in areas with no human access, which make charging an EV using the traditional cable-and-plug system impractical, since drivers cannot reach their vehicles in order to connect the plug. The Company's innovative solution utilizes wireless electrical transfer modules via robotics to solve the charging needs of EVs in APSs. The Company's solution will be used transfer electricity wirelessly from the APS's building's electrical grid to the vehicle (or alternatively, to a carrier plate on which the vehicle is located). This will enable EVs to charge in "no access" areas of APSs. Currently, the Company is engaged in a pilot project to implement its solution in an APS in Tel Aviv, Israel. The EV Market The EV market is growing globally, due to favorable government policies and support (e.g., subsidies and grants), growing sensitivity toward a cleaner environment and demand for zero-emission vehicles, and resulting heavy investments in R&D from vehic

Properties

Properties Our corporate headquarters are located at 20 Raul Wallenberg Street, Tel Aviv, Israel 6971916, under a lease held by our shareholders, free of rent to the company. In addition, we operate a small laboratory for research and development purposes at 7 Hasahlavim Street, Kadima, Israel 6095216, which property is owned by our CEO, and which is also operated free of rent to the company.

Legal Proceedings

Legal Proceedings We are not aware of any pending or threatened legal proceedings involving our Company or its assets. 6 Company Information Our principal executive offices are located at 20 Raul Wallenberg Street, Tel Aviv, Israel 6971916, and our telephone number is (678) 558-5564. Our website address is www.chargingrobotics.com . Any information contained on, or that can be accessed through, our website is not incorporated by reference into, nor is it in any way a part of, this Annual Report on Form 10-K. We use our website ( www.chargingrobotics.com ) as a channel of distribution of Company information. The information we post through this channel may be deemed material. Accordingly, investors should monitor our website, in addition to following our press releases, SEC filings and public conference calls and webcasts. The contents of our website are not, however, a part of this Annual Report on Form 10-K. Corporate History Fuel Doctor Holdings, Inc. (the "Company") was incorporated in the State of Delaware on March 25, 2008 as Silver Hill Management Services, Inc. On August 24, 2011, the Company amended its Certificate of Incorporation and changed its name to Fuel Doctor Holdings, Inc. On March 28, 2023, the Company entered into a Securities Exchange Agreement (the "Acquisition Agreement") with the stockholders of Charging Robotics Ltd. ("Charging Robotics"). Pursuant to th

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View this 10-K filing on SEC EDGAR