Eva Live Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Eva Live Inc. has submitted its 2023 annual report (10-K) detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

Eva Live Inc (GOAI) filed a Annual Report (10-K) with the SEC on April 10, 2024. Eva Live Inc. filed its 2023 Form 10-K on April 10, 2024. The company is incorporated in Nevada and operates in the computer programming and data processing sector. Its principal business address is in Los Angeles, California. The filing covers the fiscal year ending December 31, 2023. Eva Live Inc. is identified by Central Index Key 0001983736.

Why It Matters

For investors and stakeholders tracking Eva Live Inc, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Eva Live Inc.'s financial health, operational activities, and strategic direction for the past fiscal year, crucial for investors and stakeholders to assess the company's performance and future prospects. As a public document, this filing ensures transparency and compliance with SEC regulations, offering insights into the company's financial position, risks, and management's outlook.

Risk Assessment

Risk Level: low — Eva Live Inc shows low risk based on this filing. The filing is a standard 10-K annual report, which typically contains routine financial and operational information without immediate, significant market-moving news.

Analyst Insight

Review the full 10-K filing for detailed financial statements, risk factors, and management discussion to understand Eva Live Inc.'s performance and outlook.

Key Numbers

• 20231231 — Fiscal Year End (Conformed Period of Report)
• 20240410 — Filing Date (Filed as of Date)
• 2022-12-31 — Prior Year End (Reference for comparative data)
• 2021-12-31 — Prior Year End (Reference for comparative data)

Key Players & Entities

• Eva Live Inc. (company) — Filer name
• 0001983736 (company) — Central Index Key
• 7370 (company) — Standard Industrial Classification code
• NV (company) — State of Incorporation
• 1800 Century Park East, Suite 600 (company) — Business Address Street 1
• Los Angeles (company) — Business Address City
• CA (company) — Business Address State
• 90067 (company) — Business Address Zip

FAQ

Industry Context

Eva Live Inc. operates within the Services-Computer Programming, Data Processing, etc. industry (SIC code 7370). This sector involves companies engaged in providing computer programming, data processing, and related services.

Regulatory Implications

As a publicly traded company in the US, Eva Live Inc. is subject to the regulations of the Securities and Exchange Commission (SEC), requiring regular filings like the 10-K to ensure transparency and investor protection.

What Investors Should Do

1. Analyze the financial statements (Income Statement, Balance Sheet, Cash Flow) within the 10-K for revenue, profitability, and cash position.
2. Review the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section for insights into business performance drivers and outlook.
3. Examine the 'Risk Factors' section to understand potential challenges and threats to the company's business.

Year-Over-Year Comparison

This filing is the 2023 annual report (10-K), providing the latest comprehensive financial and operational data for Eva Live Inc. compared to previous filings.

Key Financial Figures

• $0.0001 — of each class Common Stock, par value $0.0001 Indicate by check mark if the registr
• $1.50 — osing price as of December 31, 2023, of $1.50 per share, the last business day of the
• $2.000 — ate was 977,348, with a market price of $2.000 quoted on the OTC Bulletin Board under
• $1,954,697 — inancial liability of the Company to be $1,954,697 and $55,909. As a result, we recorded G
• $55,909 — ity of the Company to be $1,954,697 and $55,909. As a result, we recorded Goodwill as t
• $2,010,606 — ween the purchase price and book value, $2,010,606. The Company carried out the Goodwill I
• $37,772,765 — f the implied Goodwill is approximately $37,772,765, which is higher than the carrying valu
• $1,500,000 — any's restricted common stock valued at $1,500,000 using the discounted cash flow methodol
• $0 — f the implied Goodwill is approximately $0, which is less than the carrying value,
• $60 billion — ates U.S. advertisers will spend almost $60 billion on programmatic display by the end of 2
• $81.00 b — he end of 2019. By 2021, nearly 88%, or $81.00 billion, of all U.S. digital display ad d
• $216,000 — CFO ("CEO"). The CEO's annual salary is $216,000 per annum. The Company accrues compensa
• $229 — ds-only basis. The new lease payment is $229 per month, included in the General and
• $2,748 — and 2022, the office's rent payment was $2,748 and $2,748, included in the General and

Filing Documents

• form10-k.htm (10-K) — 1099KB
• ex31-1.htm (EX-31.1) — 18KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 9KB
• form10-k_001.jpg (GRAPHIC) — 2KB
• 0001493152-24-014165.txt (&nbsp;) — 6172KB
• goai-20231231.xsd (EX-101.SCH) — 34KB
• goai-20231231_cal.xml (EX-101.CAL) — 35KB
• goai-20231231_def.xml (EX-101.DEF) — 171KB
• goai-20231231_lab.xml (EX-101.LAB) — 272KB
• goai-20231231_pre.xml (EX-101.PRE) — 253KB
• form10-k_htm.xml (XML) — 1251KB

BUSINESS

BUSINESS 4 ITEM 1 A.

RISK FACTORS

RISK FACTORS 9 ITEM 1 B. UNRESOLVED STAFF COMMENTS 9 ITEM 2 OPERATING LEASES 9 ITEM 3

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 9 ITEM 4 MINE SAFETY DISCLOSURES 9 PART II. ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 10 ITEM 6.

SELECTED FINANCIAL DATA

SELECTED FINANCIAL DATA 10 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 11 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 13 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 13 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 14 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 14 ITEM 9B. OTHER INFORMATION 14 PART III. ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 15 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 17 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 18 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 18 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 19 PART IV. ITEM 15. FINANCIAL STATEMENT SCHEDULES 20 ITEM 16. EXHIBITS 21

SIGNATURES

SIGNATURES 22 2 FORWARD-LOOKING This Annual Report on Form 10-K ("Form 10-K") contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including, but not limited to, any projections of earnings, revenue or other financial items; any statements of the plans, strategies, and objectives of management for future operations; any statements concerning proposed new products or developments; any statements regarding future economic conditions or performance; any statements of belief; and any statements of assumptions underlying any of the foregoing. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition, operations results, and any forward-looking statements are subject to change and inherent risks and uncertainties. Forward-looking "continue," "believe," "expect," "desire," "goal," "should," "objective," "seek," "plan," "strive" or "anticipate," as well as variations of such words or similar expressions, or the negatives of these words. These forward-looking statements present our estimates and assumptions only as of the date of this Form 10-K. Except for our ongoing obligation to disclose material information as required by federal securities laws, we do not intend and undertake no obligation to update any forward-looking statement. We caution readers not to place undue reliance on any such forward-looking statements. Should one or more of these risks or uncertainties materialize or underlying assumptions prove incorrect, actual outcomes will likely vary materially from those indicated. 3 P

BUSINESS

BUSINESS DESCRIPTION OF BUSINESS Eva Live Inc. (the "Company") was incorporated under the laws of the State of Nevada on August 27, 2002, as International Pit Boss Gaming, Inc. On October 1, 2002, the Company merged with Pro Roads Systems, Inc. (a Florida corporation), a public shell company traded on the pink sheets. Pro Roads Systems, Inc. had no operations before the merger. The purpose of the merger was to change the Company's domicile from Florida to Nevada. From its inception to 2006, the Company designed and developed software for the gaming industry. The Company changed its name on February 14, 2006, to Logo Industries Corporation and, on November 18, 2008, to Malwin Ventures Inc. On February 11, 2014, the Company announced negotiations with Impact Future Media LLC, and their President/Founder, Francois Garcia, acquired 100% of Impact Future Media LLC and its media and entertainment assets. The Company announced the closing of this transaction on March 25, 2014. From March 2014 to September 28, 2021, the Company was involved in the entertainment, publishing, and interactive industry. On September 9, 2021, the Company completed a reverse split in the amount of 1 for 150, Changed its name to Eva Live Inc., Changed its trading Symbol from MLWN to GOAI, and executed an Acquisition Agreement resulting in a change of control of the Issuer. On September 10, 2021, the Financial Industry Regulatory Authority ("FINRA") announced the effectiveness of a change in the Company's name from "Malwin Ventures, Inc." to "Eva Live, Inc." (the "Name Change") and a change in the Company's ticker symbol from "MLWN" to the new trading symbol "GOAI" (the "Symbol Change"). Trading under the new ticker symbol began at market opening on July 11, 2021. The current shareholders do not require action from current shareholders concerning the change in the trading symbol. The Company's CUSIP also changes to 98892100. Recent Significant Transaction – EvaMedia Corp. Acquisition On

Business

Business Strategy Our team members have successfully run advertising campaigns for products and brands, ranging from consumer products to clothing items to automobiles. We provide a differentiated solution that is simple, powerful, scalable, and extensible across geographies, industry verticals, and display, mobile, social, and video digital advertising channels. We expect our Eva Platform to be fully automated, scalable, and cost-effective, as it will allow us to run several campaigns simultaneously. As the number of campaigns grows, we scale up our technology and hardware rather than increasing our workforce. Consequently, we can cost-effectively grow operations as we acquire new clients if our platform's demand and acceptance increase. We intend to expand our core business, increase market share, and improve profitability principally by deploying the following growth strategies: Complete the integration of AI in the fiscal year ending December 31, 2023; We intend to continue innovating in AI and machine learning technology to improve the Eva Platform and augment its features and functionalities. We view big data as one of our critical competitive advantages. We will continue to invest resources in growing our data offerings, both from third-party providers and our proprietary data; Ramp up paid customers through our digital and traditional marketing strategies; Continue to enhance and promote our core proprietary Eva Platform and Eva XML Platform; Future growth will depend on the timely development and successful distribution of our AdTech solutions by signing larger deals in the United Increase our software development capabilities to develop disruptive and next-generation machine learning and artificial intelligence-driven technologies to grow and retain our customer base; Improving the share of current clients' advertising budgets and ad spends as many of our present and potential clients spend a larger percentage of thei

View Full Filing

View this 10-K filing on SEC EDGAR