AgEagle Aerial Systems Files 2023 Annual Report Amendment

TL;DR

AgEagle filed an amendment to its 2023 10-K on Nov 27, 2024. Check for updates.

AI Summary

AgEagle Aerial Systems Inc. filed an amendment (10-K/A) to its annual report on November 27, 2024, for the fiscal year ending December 31, 2023. The filing provides updated financial information and disclosures for the company, which operates in the aircraft manufacturing sector.

Why It Matters

This amendment to the annual report provides updated financial and operational details for AgEagle Aerial Systems, which is crucial for investors and stakeholders to assess the company's performance and future outlook.

Risk Assessment

Risk Level: medium — As a company filing an amendment to its annual report, there may be material changes or corrections that could impact its financial standing or business operations.

Key Numbers

• 20231231 — Fiscal Year End (The period covered by the amended annual report.)
• 20241127 — Filing Date (The date the 10-K/A was submitted to the SEC.)

Key Players & Entities

• AgEagle Aerial Systems Inc. (company) — Filer of the 10-K/A
• 20231231 (date) — Fiscal year end for the report
• 20241127 (date) — Filing date of the amendment
• WICHITA, KS (location) — Company's business and mailing address

FAQ

Key Financial Figures

• $0.001 — ch Registered Common Stock, par value $0.001 per share UAVS NYSE American LLC

Filing Documents

• form10-ka.htm (10-K/A) — 3114KB
• ex4-1.htm (EX-4.1) — 22KB
• ex21-1.htm (EX-21.1) — 4KB
• ex31-1.htm (EX-31.1) — 17KB
• ex31-2.htm (EX-31.2) — 17KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• ex97-1.htm (EX-97.1) — 36KB
• ex97-2.htm (EX-97.2) — 4KB
• ex97-3.htm (EX-97.3) — 13KB
• ex97-2_001.jpg (GRAPHIC) — 302KB
• ex97-2_002.jpg (GRAPHIC) — 413KB
• ex97-2_003.jpg (GRAPHIC) — 401KB
• ex97-2_004.jpg (GRAPHIC) — 344KB
• ex97-2_005.jpg (GRAPHIC) — 248KB
• 0001493152-24-047969.txt ( ) — 17761KB
• uavs-20231231.xsd (EX-101.SCH) — 84KB
• uavs-20231231_cal.xml (EX-101.CAL) — 110KB
• uavs-20231231_def.xml (EX-101.DEF) — 428KB
• uavs-20231231_lab.xml (EX-101.LAB) — 768KB
• uavs-20231231_pre.xml (EX-101.PRE) — 647KB
• form10-ka_htm.xml (XML) — 2969KB

BUSINESS

BUSINESS 5 ITEM 1A. RISK FACTORS 25 ITEM 1B. UNRESOLVED STAFF COMMENTS 38 ITEM 1C. CYBER-SECURITY 38 ITEM 2.

PROPERTIES

PROPERTIES 40 ITEM 3. LEGAL PROCEEDINGS 40 ITEM 4. MINE SAFETY DISCLOSURES 40 PART II 41 ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 41 ITEM 6. [RESERVED] 42 ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 42 ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 53 ITEM 8. FINANCIAL 53 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 53 ITEM 9A. CONTROLS AND PROCEDURES 53 ITEM 9B. OTHER INFORMATION 54 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 54 PART III 55 ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 55 ITEM 11. EXECUTIVE COMPENSATION 55 ITEM 12. SECURITY 55 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 55 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 55 PART IV 56 ITEM 15. EXHIBITS,

FINANCIAL STATEMENTS, SCHEDULES

FINANCIAL STATEMENTS, SCHEDULES 56 INDEX TO FINANCIAL STATEMENTS F-1 ITEM 16. FORM 10-K SUMMARY 57 2 EXPLANATORY NOTE AgEagle Aerial Systems Inc. (the "Company", "we", "us", and "our") filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 with the U.S. Securities and Exchange Commission ("SEC") on April 1, 2024 (the "Original Form 10-K") and filed quarterly reports on Form 10-Q for the three, six, and nine months ended March 31, 2023, June 30, 2023, and September 30, 2023 on May 15, 2023, August 14, 2023, and November 13, 2023, respectively, (collectively referred to has the "Original Forms 10-Q"). Subsequent to the filing of the Original Form 10-K and the Original Forms 10-Q for year end and interim periods during our fiscal year 2023, we identified an error that was present in all aforementioned filings. Background of Restatement Subsequent to the filing of our Original Form 10-K and Original Form 10-Qs, management identified an error in the computation of net loss attributable to common stockholders and total comprehensive loss as presented on our audited and unaudited consolidated statements of operations and comprehensive loss included in the Original Form 10-K and Original Forms 10-Q, respectively. The error in the computation of net loss attributable to common stockholders resulted in an understatement of net loss per common share basic and diluted as presented on our unaudited and audited consolidated statements of operations and comprehensive loss for all quarterly and year end reporting periods during our fiscal year 2023, respectively. The net loss attributable to common stockholders erroneously excluded accrued cumulative dividends on outstanding Series F preferred stock and deemed dividends resulting from the triggering of down round features embedded within outstanding equity-linked financial instruments. Pursuant to ASC 260 Earnings Per Share, income available to common stockholders shall be computed by de

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View this 10-K/A filing on SEC EDGAR