Bynd Cannasoft Files 20-F/A Amendment
Ticker: FMTOF · Form: 20-F/A · Filed: Jul 1, 2024 · CIK: 1888151
Sentiment: neutral
Topics: amendment, annual-report, software
TL;DR
BYND filed an amended 20-F for FY23, check for updates.
AI Summary
Bynd Cannasoft Enterprises Inc. filed an amendment (20-F/A) on July 1, 2024, for the fiscal year ending December 31, 2023. The filing provides updated financial information and disclosures for the company, which is in the prepackaged software services industry.
Why It Matters
This filing provides updated financial and operational disclosures for Bynd Cannasoft Enterprises Inc., crucial for investors assessing the company's performance and outlook.
Risk Assessment
Risk Level: medium — As a 20-F filing, it pertains to foreign private issuers and may contain complex financial information and disclosures that require careful analysis.
Key Numbers
- 2023 — Fiscal Year End (The period covered by the amended 20-F filing.)
- 2022 — Prior Fiscal Year (Comparative financial data context.)
- 2021 — Earlier Fiscal Year (Further comparative financial data context.)
Key Players & Entities
- BYND CANNASOFT ENTERPRISES INC. (company) — Filer of the 20-F/A amendment
- 20240701 (date) — Filing date of the amendment
- 20231231 (date) — Fiscal year end for the report
- 0001888151 (company) — Central Index Key for Bynd Cannasoft Enterprises Inc.
FAQ
What specific updates or changes are detailed in this 20-F/A amendment compared to the original filing?
The filing is an amendment (20-F/A) to the annual report, indicating that there are updates or corrections to the previously filed information for the fiscal year ending December 31, 2023.
What is the primary business of Bynd Cannasoft Enterprises Inc. according to this filing?
Bynd Cannasoft Enterprises Inc. is classified under Standard Industrial Classification code 7372, which corresponds to Services-Prepackaged Software.
When was this amended filing submitted to the SEC?
This 20-F/A amendment was filed on July 1, 2024.
What is the fiscal year-end date for the period covered by this report?
The conformed period of report is December 31, 2023.
What is the company's registered business address?
The business address is listed as 2264E 11TH AVENUE, VANCOUVER, A1, V5N1Z6.
Filing Stats: 4,672 words · 19 min read · ~16 pages · Grade level 14 · Accepted 2024-07-01 16:46:57
Filing Documents
- form20-fa.htm (20-F/A) — 2025KB
- ex10-14.htm (EX-10.14) — 8KB
- ex12-1.htm (EX-12.1) — 16KB
- ex12-2.htm (EX-12.2) — 16KB
- ex13-1.htm (EX-13.1) — 6KB
- ex13-2.htm (EX-13.2) — 6KB
- form20-fa_001.jpg (GRAPHIC) — 8KB
- ex10-14_001.jpg (GRAPHIC) — 862KB
- ex10-14_002.jpg (GRAPHIC) — 1055KB
- ex10-14_003.jpg (GRAPHIC) — 962KB
- ex10-14_004.jpg (GRAPHIC) — 956KB
- ex10-14_005.jpg (GRAPHIC) — 486KB
- ex10-14_006.jpg (GRAPHIC) — 276KB
- ex10-14_007.jpg (GRAPHIC) — 1087KB
- ex10-14_008.jpg (GRAPHIC) — 980KB
- ex10-14_009.jpg (GRAPHIC) — 245KB
- 0001493152-24-025820.txt ( ) — 19965KB
- bcan-20231231.xsd (EX-101.SCH) — 77KB
- bcan-20231231_cal.xml (EX-101.CAL) — 78KB
- bcan-20231231_def.xml (EX-101.DEF) — 259KB
- bcan-20231231_lab.xml (EX-101.LAB) — 460KB
- bcan-20231231_pre.xml (EX-101.PRE) — 386KB
- form20-fa_htm.xml (XML) — 2517KB
SIGNATURES
SIGNATURES The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the undersigned to sign this Annual Report on its behalf. BYND CANNASOFT ENTERPRISES INC. By: /s/ Yftah Ben Yaackov Name: Yftah Ben Yaackov Title: Chief Executive Officer Date: July 1, 2024 Index to Financial Statements BYND Cannasoft Enterprises Inc. Reports of Independent Registered Public Accounting Firm (PCAOB ID : 6906) F-3 Consolidated Statements of Financial Position as of December 31, 2022 and 2023 F-4 Consolidated Statements of Loss and Comprehensive Loss for the Years Ended December 31, 2021, 2022 and 2023 F-5 Consolidated Statements of Changes in Shareholders' Equity (Deficiency) for the Years Ended December 31, 2021, 2022 and 2023 F-6 Consolidated Statements of Cash Flows for the Years Ended December 31, 2021, 2022 and 2023 F-7
Notes to Consolidated Financial Statements
Notes to Consolidated Financial Statements F-8 - F-36 BYND CANNASOFT ENTERPRISES INC. CONSOLIDATED
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 and 2021 (EXPRESSED IN CANADIAN DOLLARS) F-1 INDEX Page Reports of Independent Registered Public Accounting Firms (PCAOB ID : 6906 and 5041) F-3 of Financial Position F-4 F-5 of Changes in Shareholders' Equity F-6 of Cash Flows F-7 Notes to Financial Statements F-8 – F-36 F-2 Report of Independent Registered Public Accounting Firm To the shareholders and the board of directors of BYND Cannasoft Enterprises Inc. Opinion on the Financial Statements We have audited the accompanying consolidated statements of financial position of BYND Cannasoft Enterprises Inc. (the "Company"), as of December 31, 2023 and 2022, the related consolidated statements of loss and comprehensive loss, changes in shareholders' equity (deficit) and cash flows for each of the three years in the period ended December 31, 2023, and related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2023 and 2022, and the results of its operations and its cash flows for the three years in the period ended December 31, 2023, in conformity with the International Financial Reporting Standards as issued by the International Accounting Standards Board. Going Concern The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the consolidated financial statements, the Company's significant operating losses raise substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 1. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Basis for
financial statements were approved for issue by the Board of Directors on July 1, 2024 and signed on its behalf by
financial statements were approved for issue by the Board of Directors on July 1, 2024 and signed on its behalf by: "Yftah Ben Yaackov" "Gabi Kabazo" Director Director The accompanying notes are an integral part of these financial statements. F-4 BYND CANNASOFT ENTERPRISES INC. Consolidated For the Years Ended on December 31, 2023 and 2022 (Expressed in Canadian Dollars) For the year ended December 31 Notes 2023 2022 2021 Revenue 16 $ 1,076,861 $ 1,123,072 $ 1,217,459 Cost of revenue 8 , 17 ( 678,305 ) ( 506,500 ) ( 594,321 ) Gross profit 398,556 616,572 623,138 Consulting and marketing 1,387,628 8,190 20,309 Research and Development 836,833 - - Depreciation and Amortization 7, 8 93,354 30,702 51,988 General and administrative expenses 1,254,089 947,300 334,036 Share-based compensation 343,252 153,909 550,517 Professional fees 1,739,430 1,220,746 278,012 Total operating expense ( 5,654,586 ) ( 2,360,847 ) ( 1,234,862 ) Loss before other income (expense) ( 5,256,030 ) ( 1,744,275 ) ( 611,724 ) Other income (expense) Finance income (expenses), net 314 ( 14,451 ) ( 13,514 ) Foreign exchange gain (loss) ( 76,469 ) 100,322 123,002 Gain from warrants revaluation 7,704 - - Covid-19 grant - - 53,301 Listing expense - - ( 4,394,390 ) Impairments ( 13,142,481 ) - - Other operating expense ( 13,210,932 ) 85,871 ( 4,231,601 ) Loss before tax ( 18,466,962 ) ( 1,658,404 ) ( 4,843,325 ) Tax expense 18 ( 28,159 ) ( 6,280 ) ( 35,413 ) Loss for the year $ ( 18,495,121 ) $ ( 1,664,684 ) $ ( 4,878,738 ) Other comprehensive income (loss) Exchange differences on translation ( 22,992 ) ( 11,709 ) 14,473 Remeasurement of a defined benefit plan, net 485 3,835 6,223 Other comprehensive income (loss) for the year ( 22,507 ) ( 7,874 ) 20,696