Mobilicom Ltd. Files 20-F Annual Report for Fiscal Year Ended December 31, 2023

TL;DR

<b>Mobilicom Ltd. has filed its annual 20-F report detailing its fiscal year 2023 performance and share structure.</b>

AI Summary

Mobilicom Ltd (MOBBW) filed a Foreign Annual Report (20-F) with the SEC on March 25, 2024. Mobilicom Ltd. filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The company's ordinary shares outstanding as of December 31, 2023, were 1,326,676,693. Mobilicom Ltd. is registered with the SEC under file number 001-41427. The company's principal executive offices are located at 1 Rakefet Street, Shoham, Israel. Mobilicom Ltd. has its American Depositary Shares (ADS) trading on the Nasdaq Capital Market under the symbol MOB, and warrants under MOBBW.

Why It Matters

For investors and stakeholders tracking Mobilicom Ltd, this filing contains several important signals. This filing provides a comprehensive overview of Mobilicom's financial and operational status for the past fiscal year, crucial for investors assessing the company's health and future prospects. The disclosure of outstanding share numbers and trading information on Nasdaq is essential for market participants to understand the company's capitalization and liquidity.

Risk Assessment

Risk Level: low — Mobilicom Ltd shows low risk based on this filing. The filing is a routine annual report (20-F) and does not contain immediate red flags or significant new negative information, indicating a standard disclosure process.

Analyst Insight

Investors should review the full 20-F filing for detailed financial statements, risk factors, and management discussion to form an informed opinion on Mobilicom Ltd.'s performance and outlook.

Key Numbers

• 1,326,676,693 — Ordinary Shares Outstanding (As of December 31, 2023)
• 20231231 — Fiscal Year End (Conformed period of report)
• 20240325 — Filing Date (Date the report was filed)
• 001-41427 — SEC File Number (Commission file number for Mobilicom Ltd.)

Key Players & Entities

• Mobilicom Ltd. (company) — Registrant name
• Nasdaq Capital Market (company) — Exchange where securities are traded
• MOB (company) — Trading symbol for American Depositary Shares
• MOBBW (company) — Trading symbol for warrants
• Liad Gelfer (person) — Director of Finance and Company Contact Person

FAQ

Industry Context

Mobilicom Ltd. operates in the aerospace and defense sector, focusing on communication solutions.

Regulatory Implications

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

What Investors Should Do

1. Review the full 20-F filing for detailed financial statements and management discussion.
2. Analyze the number of outstanding ordinary shares and warrant information for capitalization assessment.
3. Monitor future filings for updates on operational performance and strategic developments.

Year-Over-Year Comparison

This is the annual report filing for the fiscal year ended December 31, 2023, following the requirements for a 20-F submission.

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
• $6,872,000 — ebruary 2, 2017. Our net losses were AUD$6,872,000 (approximately $4,700,000) and AUD$341,
• $4,700,000 — osses were AUD$6,872,000 (approximately $4,700,000) and AUD$341,000 for the fiscal years e
• $341,000 — 2,000 (approximately $4,700,000) and AUD$341,000 for the fiscal years ended December 31,

Filing Documents

• ea0201709-20f_mobili.htm (20-F) — 2451KB
• ea020170901ex12-1_mobilicom.htm (EX-12.1) — 10KB
• ea020170901ex12-2_mobilicom.htm (EX-12.2) — 10KB
• ea020170901ex13-1_mobilicom.htm (EX-13.1) — 4KB
• ea020170901ex13-2_mobilicom.htm (EX-13.2) — 4KB
• ea020170901ex15-1_mobilicom.htm (EX-15.1) — 7KB
• ea020170901ex97-1_mobilicom.htm (EX-97.1) — 54KB
• image_001.jpg (GRAPHIC) — 43KB
• image_002.jpg (GRAPHIC) — 47KB
• image_003.jpg (GRAPHIC) — 18KB
• image_004.jpg (GRAPHIC) — 5KB
• image_005.jpg (GRAPHIC) — 513KB
• image_006.jpg (GRAPHIC) — 261KB
• image_007.jpg (GRAPHIC) — 2KB
• ex15-1_001.jpg (GRAPHIC) — 7KB
• 0001213900-24-025526.txt (&nbsp;) — 13078KB
• mob-20231231.xsd (EX-101.SCH) — 146KB
• mob-20231231_cal.xml (EX-101.CAL) — 51KB
• mob-20231231_def.xml (EX-101.DEF) — 369KB
• mob-20231231_lab.xml (EX-101.LAB) — 766KB
• mob-20231231_pre.xml (EX-101.PRE) — 389KB
• ea0201709-20f_mobili_htm.xml (XML) — 2025KB

Risk Factors

Risk Factors 1 ITEM 4. INFORMATION ON THE COMPANY 29 A. History and Development of the Company 29 B. Business Overview 29 C. Organizational Structure 38 D. Property, Plants and Equipment 38 ITEM 4A. UNRESOLVED STAFF COMMENTS 38 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 39 A. Operating Results 39 B. Liquidity and Capital Resources 41 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 48 D. Employees 50 E. Share Ownership 50 F. Disclosure of a Registrant's Action to Recover Erroneously Awarded Compensation 53 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 53 A. Major Shareholders 53 B. Related Party Transactions 55 C. Interests of Experts and Counsel 55 ITEM 8. FINANCIAL INFORMATION 55 A. 55 B. Significant Changes 55 ITEM 9. THE OFFER AND LISTING 55 A. Offer and Listing Details 55 B. Plan of Distribution 56 C. Markets 56 D. Selling Shareholders 56 E.

Dilution

Dilution 56 F. Expenses of the Issue 56 i ITEM 10. ADDITIONAL INFORMATION 56 A. Share Capital 56 B. Articles of Association 56 C. Material Contracts 56 D. Exchange Controls 57 E. Taxation 57 F. Dividends and Paying Agents 65 G. 65 H. Documents on Display 65 I. Subsidiary Information 65 J. Annual Report to Security Holders 65 ITEM 11.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 65 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 66 A. Debt Securities 66 B. Warrants and rights 66 C. Other Securities 66 D. American Depositary Shares 66 PART II ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 67 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 67 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 67 ITEM 16. [RESERVED] 68 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 68 ITEM 16B. CODE OF ETHICS 68 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 69 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 69 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 69 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 70 ITEM 16G. CORPORATE GOVERNANCE 70 ITEM 16H. MINE SAFETY DISCLOSURE 71 ITEM 16I DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 71 ITEM 16J. INSIDER TRADING POLICIES 71 ITEM 16K. CYBERSECURITY 71 PART III ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 72 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 72 ITEM 19. EXHIBITS 72

SIGNATURES

SIGNATURES 74 ii INTRODUCTION Unless otherwise indicated or the context implies otherwise references in this Annual Report on Form 20-F to "we," "us," "our" or "Mobilicom" refers to Mobilicom Limited, an Australian corporation, and to Mobilicom Ltd., our Israeli subsidiary. All references to "shares" or "ordinary shares" refer to our ordinary shares. All references to "ADSs" refers to American Depositary Shares, each of which represents 275 ordinary shares; and "ADRs" refers to American Depositary Receipts, which evidence ADSs. Our reporting and functional currency is the Australian dollar. Our Israeli subsidiary's functional currency is the Israeli New Shekel, or NIS. Solely for the convenience of the reader, this Annual Report on Form 20-F contains translations of some Australian dollar amounts into U.S. dollars at specified rates on the date indicated. No representation is made that the Australian dollar amounts referred to in this Annual Report on Form 20-F could have been or could be converted into U.S. dollars at such rate. Unless otherwise noted, all industry and market data in this Annual Report on Form 20-F, including information provided by independent industry analysts, is presented in U.S. dollars. Unless otherwise noted, all other financial and other data related to Mobilicom Limited in this Annual Report on Form 20-F is presented in Australian dollars. All references to "

Risk Factors

Risk Factors You should carefully consider the risks described below, together with all of the other information in this Annual Report on Form 20-F. The risks and uncertainties described below are those significant risk factors, currently known and specific to us, that we believe are relevant to an investment in our securities. Additional risks and uncertainties not currently known to us or that we now deem immaterial may also harm us. If any of these risks materialize our business, results of operations or financial condition could suffer, and the price of our ordinary shares could decline substantially. Summary

Risk Factors

Risk Factors Investing in our securities entails a high degree of risk as more fully described herein. You should carefully consider the risks described under the "Risk Factors" section beginning on page 1. Some of these risks include but are not limited to: Risks Related to Our Financial Condition We have a history of losses. We expect that we will need to invest significant time and raise substantial additional capital before we can expect to become profitable from sales of our products. This additional capital may not be available on acceptable terms, or at all. Failure to obtain this necessary capital when needed may force us to delay, limit or terminate our product development efforts or other operations. Shortfalls in available external research and development funding could adversely affect us. We may not accurately forecast revenues, profitability and appropriately plan our expenses. Exchange rate fluctuations between multiple foreign currencies may negatively affect our earnings, operating cash flow. We have commenced marketing and initial sales of our cloud-based software and cybersecurity solutions, which may be marketed and sold to customers using different sales models, including annual or monthly license or software as a service, any of which may not be profitable to us. 1 Risks Related to Our Business and Industry We expect to incur substantial research and development costs and devote significant resources to identifying and commercializing new products and services, which could significantly reduce our profitability and may never result in revenue to us. We will be affected by operational risks and may not be adequately insured for certain risks. We operate in evolving markets, which makes it difficult to evaluate our business and future prospects. We operate in a competitive market. The markets in which we compete are characterized by rapid technological change, which requires us to develop new products and product enha

View Full Filing

View this 20-F filing on SEC EDGAR