BYND CANNASOFT ENTERPRISES INC. Files 20-F for Fiscal Year Ended December 31, 2023

TL;DR

<b>BYND CANNASOFT ENTERPRISES INC. has filed its 2023 annual report on Form 20-F, detailing its financial performance and operations for the year ended December 31, 2023.</b>

AI Summary

BYND CANNASOFT ENTERPRISES INC. (FMTOF) filed a Foreign Annual Report (20-F) with the SEC on April 3, 2024. BYND CANNASOFT ENTERPRISES INC. filed its annual report on Form 20-F for the fiscal year ended 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 2264E 11TH AVENUE, VANCOUVER, A1, V5N1Z6. The filing was made on April 3, 2024, as of April 2, 2024. BYND CANNASOFT ENTERPRISES INC. is classified under SIC code 7372 (Services-Prepackaged Software).

Why It Matters

For investors and stakeholders tracking BYND CANNASOFT ENTERPRISES INC., this filing contains several important signals. This 20-F filing provides investors and stakeholders with a comprehensive overview of the company's financial health, business operations, and risk factors for the fiscal year 2023. As a foreign private issuer, this filing is crucial for understanding BYND CANNASOFT ENTERPRISES INC.'s compliance with SEC regulations and its strategic direction within the software industry.

Risk Assessment

Risk Level: low — BYND CANNASOFT ENTERPRISES INC. shows low risk based on this filing. The filing is a standard annual report (20-F) and does not contain immediate, significant financial disclosures or events that would indicate high risk.

Analyst Insight

Review the detailed financial statements and risk factors within the 20-F to assess the company's performance and future outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period covered by the report)
• 2024-04-03 — Filing Date (Date the report was filed)
• 7372 — SIC Code (Standard Industrial Classification for Services-Prepackaged Software)

Key Players & Entities

• BYND CANNASOFT ENTERPRISES INC. (company) — Filer name
• 20-F (filing) — Form type
• 2024-04-03 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end
• 7372 (industry_code) — Standard Industrial Classification
• VANCOUVER (location) — Business address city

FAQ

Industry Context

BYND CANNASOFT ENTERPRISES INC. operates in the prepackaged software industry, as indicated by its SIC code 7372.

Regulatory Implications

As a foreign private issuer, the company files an annual report on Form 20-F with the SEC, which is a comprehensive disclosure document.

What Investors Should Do

1. Analyze the financial statements and management discussion within the 20-F for detailed performance metrics.
2. Review the risk factors section to understand potential challenges and uncertainties facing the company.
3. Monitor future filings for updates on the company's strategic initiatives and financial results.

Key Dates

• 2024-04-03: Filing of 20-F — Annual report for fiscal year 2023
• 2023-12-31: Fiscal Year End — End of the reporting period

Year-Over-Year Comparison

This is the initial analysis of the 2023 20-F filing; comparative data from a previous filing is not yet available in this extract.

Key Financial Figures

• $1.235 billion — which our annual gross revenues exceed $1.235 billion; (ii) the last day of the fiscal year f
• $700 million — nts, held by non-affiliates is at least $700 million as of the last business day of our most
• $1.0 billion — date on which we have issued more than $1.0 billion in non-convertible debt securities duri
• $0.102 — (or share equivalents) at a price below $0.102 per common share (the exercise price of
• $1 m — aq that the Company no longer meets the $1 minimum bid price per share requirement.

Filing Documents

• form20-f.htm (20-F) — 3050KB
• form20-f_001.jpg (GRAPHIC) — 7KB
• form20-f_002.jpg (GRAPHIC) — 6KB
• form20-f_003.jpg (GRAPHIC) — 4KB
• form20-f_004.jpg (GRAPHIC) — 9KB
• form20-f_005.jpg (GRAPHIC) — 22KB
• aud_001.jpg (GRAPHIC) — 9KB
• form20-f_006.jpg (GRAPHIC) — 2KB
• 0001493152-24-012876.txt (&nbsp;) — 11730KB
• bcan-20231231.xsd (EX-101.SCH) — 78KB
• bcan-20231231_cal.xml (EX-101.CAL) — 80KB
• bcan-20231231_def.xml (EX-101.DEF) — 260KB
• bcan-20231231_lab.xml (EX-101.LAB) — 503KB
• bcan-20231231_pre.xml (EX-101.PRE) — 420KB
• form20-f_htm.xml (XML) — 2459KB

SELECTED FINANCIAL DATA

SELECTED FINANCIAL DATA 7 B. CAPITALIZATION AND INDEBTEDNESS 7 C. REASONS FOR THE OFFER AND USE OF PROCEEDS 7 D.

RISK FACTORS

RISK FACTORS 7 ITEM 4 INFORMATION ON THE COMPANY 24 A. HISTORY AND DEVELOPMENT OF THE COMPANY 24 B. BUSINESS OVERVIEW 27 C. ORGANIZATIONAL STRUCTURE 39 D. PROPERTY, PLANTS AND EQUIPMENT 40 ITEM 4A UNRESOLVED STAFF COMMENTS 40 ITEM 5 OPERATING AND FINANCIAL REVIEW AND PROSPECTS 40 A. OPERATING RESULTS 40 B. LIQUIDITY AND CAPITAL RESOURCES 42 C. RESEARCH AND DEVELOPMENT, PATENTS AND LICENSES 43 D. TREND INFORMATION 43 E. CRITICAL ACCOUNTING ESTIMATES 43 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 44 A. DIRECTORS AND SENIOR MANAGEMENT 44 B. COMPENSATION 46 C. BOARD PRACTICES 49 D. EMPLOYEES 57 E. SHARE OWNERSHIP 57 ITEM 7 MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 58 A. MAJOR SHAREHOLDERS 58 B. RELATED PARTY TRANSACTIONS 59 C. INTERESTS OF EXPERTS AND COUNSEL 59 ITEM 8 FINANCIAL INFORMATION 59 A. CONSOLIDATED STATEMENTS AND OTHER FINANCIAL INFORMATION 59 B. SIGNIFICANT CHANGES 60 ITEM 9 THE OFFER AND LISTING 60 A. OFFER AND LISTING DETAILS 60 B. PLAN OF DISTRIBUTION 60 ii C. MARKETS 60 D. SELLING SHAREHOLDERS 60 E.

DILUTION

DILUTION 60 F. EXPENSES OF THE ISSUE 60 ITEM 10 ADDITIONAL INFORMATION 60 A. SHARE CAPITAL 60 B. MEMORANDUM AND ARTICLES OF ASSOCIATION 61 C. MATERIAL CONTRACTS 62 D. EXCHANGE CONTROLS 63 E. TAXATION 63 F. DIVIDENDS AND PAYING AGENTS 74 G. 74 H. DOCUMENTS ON DISPLAY 74 I. SUBSIDIARY INFORMATION 74 ITEM 11 QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK 74 ITEM 12

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 74 PART II ITEM 13 DEFAULTS, DIVIDENDS ARREARAGES AND DELINQUENCIES 74 ITEM 14 MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 75 ITEM 15

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 75 ITEM 16 [RESERVED] 75 A. AUDIT COMMITTEE FINANCIAL EXPERT 75 B. CODE OF ETHICS 75 C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 76 D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 76 E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 76 F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 76 G. CORPORATE GOVERNANCE 77 PART III ITEM 17

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 7 8 ITEM 18

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 78 ITEM 19 EXHIBITS 78 iii GENERAL In this Annual Report, references to "we", "us", "our", the "Company", and "BYND" mean BYND Cannasoft Enterprises Inc. and its subsidiaries, unless the context requires otherwise. We use the Canadian dollar as our reporting currency and our financial statements are prepared in accordance with Canadian generally accepted accounting principles. All monetary references in this document are to Canadian dollars, unless otherwise indicated. All references in this document to "dollars" or "$" or "CDN$" mean Canadian dollars, unless otherwise indicated, and references to "US$" mean United States dollars. The following table reflects the rates of exchange for one Canadian dollar, expressed in United States dollars, in effect during the periods noted, the average rates of exchange during such periods and the rates of exchange at the end of such periods, based on the Bank of Canada average noon spot rate of exchange. United States dollar (US$) per Canadian dollar ($) High Low Average End of Period Year Ended December 31, 2023 0.7617 0.7207 0.7409 0.7561 Year Ended December 31, 2022 0.8031 0.7217 0.7685 0.7383 Year Ended December 31, 2021 0.8306 0.7727 0.7980 0.7888 Year Ended December 31, 2020 0.7863 0.6898 0.7455 0.7854 Year Ended December 31, 2019 0,7699 0.7353 0.7537 0.7699 1 Except as noted, the information set forth in this Annual Report is as of April 2, 2024 and all information included in this document should only be considered accurate as of such date. Our business, financial condition or results of operations may have changed since that date. GLOSSARY OF TERMS The following is a glossary of certain terms used in this Annual Report: " Amalgamation Agreement " means the amalgamation agreement dated March 21, 2021 between Lincoln and Fundingco respecting the Amalgamation Transaction. " Amalgamation Transaction " means the amalgamation of Lincoln and

Risk Factors

Risk Factors This section describes some of the risks and uncertainties faced by us. An investment in our Company involves a high degree of risk. You should carefully consider the risks described below and the risks described elsewhere in this Annual Report when making an investment decision related to our Company. We believe the risk factors summarized below are most relevant to our business. These are factors that, individually or in the aggregate, could cause our actual results to differ significantly from anticipated or historical results. The occurrence of any of the risks could harm our business and cause you to lose all or part of your investment. However, you should understand that it is not possible to predict or identify all such factors. The risks and uncertainties described and discussed below and elsewhere in this Annual Report are not the only risks and uncertainties that we face. Additional risks and uncertainties not presently known to us or that we currently deem immaterial may also impair our business operations. If any of these risks actually occurs, our business, financial condition and results of operations would suffer. The risks discussed below also include forward-looking statements, and our actual results may differ substantially from those discussed in these forward-looking statements. See the discussion under the heading "Cautionary Note Regarding Forward-Looking Statements" at the beginning of this Annual Report for more detail. Except as required by law, we undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events, or otherwise. 7 Risks Related to Ownership of Our Common Shares and Warrants The exercise prices of outstanding warrants may require further adjustment. On March 14, 2024, we completed an underwritten public offering of units consisting of one common share, one Series A warrant to purchase one common share, and two Series B warrants each to purchase

View Full Filing

View this 20-F filing on SEC EDGAR