Greenwave Technology Solutions, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Greenwave Technology Solutions, Inc. has filed its 2023 annual report (10-K) detailing its financial performance and business operations.</b>

AI Summary

Greenwave Technology Solutions, Inc. (GWAV) filed a Annual Report (10-K) with the SEC on April 16, 2024. Greenwave Technology Solutions, Inc. filed its 2023 Form 10-K on April 16, 2024. The company was formerly known as MassRoots, Inc., with a name change on October 11, 2013. The filing covers the fiscal year ending December 31, 2023. Greenwave Technology Solutions, Inc. is incorporated in Delaware. The company's business address is located in Chesapeake, VA.

Why It Matters

For investors and stakeholders tracking Greenwave Technology Solutions, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Greenwave's financial health, operational strategies, and risk factors for the fiscal year 2023, crucial for investors and stakeholders to assess the company's current standing and future prospects. As a publicly traded entity, the timely filing of a 10-K is a regulatory requirement that ensures transparency and allows the market to evaluate the company's performance against its peers and industry benchmarks.

Risk Assessment

Risk Level: medium — Greenwave Technology Solutions, Inc. shows moderate risk based on this filing. The company's former name was MassRoots, Inc., and its business operations are classified under SIC code 5051 (Wholesale-Metals Service Centers & Offices), indicating a potential shift or diversification in business focus that requires further investigation into its current revenue streams and market position.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 10-K to understand Greenwave's operational performance and strategic direction for 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-04-16 — Filing Date (Filed as of date)
• 001-41452 — SEC File Number (SEC file number for the company)
• 5051 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• Greenwave Technology Solutions, Inc. (company) — Filer name
• MassRoots, Inc. (company) — Former company name
• 2023-12-31 (date) — Conformed period of report
• 2024-04-16 (date) — Filed as of date
• DE (jurisdiction) — State of incorporation
• VA (jurisdiction) — State of business address
• 5051 (industry_code) — Standard Industrial Classification

FAQ

Industry Context

Greenwave Technology Solutions, Inc. operates within the wholesale trade sector, specifically metal service centers and offices, as indicated by its SIC code. This filing is a standard annual report for a publicly traded company.

Regulatory Implications

The filing is a Form 10-K, which is a mandatory annual report required by the U.S. Securities and Exchange Commission (SEC) for publicly traded companies to provide a comprehensive summary of their financial performance.

What Investors Should Do

1. Review the full 10-K document for detailed financial statements and management's discussion and analysis.
2. Analyze the company's business description and risk factors to understand its operational landscape.
3. Compare Greenwave's reported performance against industry peers and historical data.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-04-16: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial analysis of the 2023 10-K filing. No prior filing data is available for comparison within this context.

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 GWAV The Nasdaq Stock Market, LLC
• $10,000 — 8, 2021 for cash consideration equal to $10,000 and has discontinued all operations rel
• $10 million — s, Greenwave has invested approximately $10 million developing these technologies which we
• $10,000,000 — e Company and Holder agreed to exchange $10,000,000 of that certain Secured Promissory Note
• $0.204 — ible into the Company's common stock at $0.204 per share, subject to adjustment as set
• $3,294,161 — gregate gross proceeds of approximately $3,294,161. Holders of Existing Warrants must retu
• $2,809,568 — he exercise of warrants for proceeds of $2,809,568. The Company issued 27,544,788 Induceme
• $2,066,740 — ertible debt in the principal amount of $2,066,740. The shares underlying the debt were co
• $22,581 — he exercise of warrants for proceeds of $22,581. On March 15, 2024, the Company entere
• $17,000 — e lease, the Company is required to pay $17,000 from March 1, 2024 to February 28, 2025
• $23,000 — rom March 1, 2024 to February 28, 2025; $23,000 from March 1, 2025 to February 28, 2026
• $3,277,000 — the option to purchase the property for $3,277,000 until February 28, 2024. Intellectual

Filing Documents

• form10-k.htm (10-K) — 2164KB
• ex10-54.htm (EX-10.54) — 44KB
• ex31-1.htm (EX-31.1) — 18KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• form10-k_001.jpg (GRAPHIC) — 4KB
• form10-k_002.jpg (GRAPHIC) — 6KB
• 0001493152-24-014799.txt (&nbsp;) — 11462KB
• gwav-20231231.xsd (EX-101.SCH) — 96KB
• gwav-20231231_cal.xml (EX-101.CAL) — 87KB
• gwav-20231231_def.xml (EX-101.DEF) — 436KB
• gwav-20231231_lab.xml (EX-101.LAB) — 728KB
• gwav-20231231_pre.xml (EX-101.PRE) — 566KB
• form10-k_htm.xml (XML) — 1631KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 5 Item 1B. Unresolved Staff Comments 17 Item 1C. Cybersecurity 17 Item 2.

Properties

Properties 17 Item 3.

Legal Proceedings

Legal Proceedings 18 Item 4. Mine Safety Disclosures 18 PART II 18 Item 5. Market for the Registrant's Common Stock, Related Stockholder Matters and Issuer Purchases of Equity Securities 18 Item 6. Reserved 20 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 20 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 26 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 26 Item 9A.

Controls and Procedures

Controls and Procedures 2 6 Item 9B. Other Information 28 Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 28 PART III 28 Item 10. Directors, Executive Officers and Corporate Governance 28 Item 11.

Executive Compensation

Executive Compensation 28 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 28 Item 13. Certain Relationships and Related Transactions and Director Independence 28 Item 14. Principal Accountant Fees and Services 28 PART IV 29 Item 15. Exhibits and Financial Statement Schedules 29 I SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS in this Annual Report on Form 10-K ("Annual Report") may be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking any other statements relating to our future activities or other future events or conditions. These statements are often, but not always, made through the use of words or phrases such as "believe," "will," "may," "could," "continue," "should," "contemplate," "expect," "anticipate," "estimate," "intend," "target," "forecast," "outlook," "guidance," "project," "potential," "plan" and "would," and similar expressions that convey uncertainty of future events or outcomes are intended to identify forward-looking statements. These statements are based on current expectations, estimates and projections about our business based in part on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including those set forth in "Item 1A. Risk Factors" and elsewhere in this Annual Report on Form 10-K. You are cautioned not to place undue reliance on these forward-looking statements, which spea

View Full Filing

View this 10-K filing on SEC EDGAR