Vision Marine Technologies Inc. Files Amended 20-F Report

TL;DR

<b>Vision Marine Technologies Inc. has filed an amended 20-F report for FY2023, detailing business operations and financial information.</b>

AI Summary

Vision Marine Technologies Inc. (VMAR) filed a Amended Foreign Annual Report (20-F/A) with the SEC on April 5, 2024. Filing is an amended 20-F report for the fiscal year ending August 31, 2023. The company is involved in Ship & Boat Building & Repairing. Business and mailing address are both 730 Boulevard du Curé-Boivin, Boisbriand, J7G 2A7. Phone number listed is 3476150188. The filing includes data related to Electric Boat Rental Limited Member and currency risk.

Why It Matters

For investors and stakeholders tracking Vision Marine Technologies Inc., this filing contains several important signals. This amended filing provides updated information for the fiscal year 2023, which is crucial for investors to assess the company's current financial health and strategic direction. The inclusion of specific data points related to its rental operations and currency risks offers insights into potential challenges and opportunities within its business segments.

Risk Assessment

Risk Level: low — Vision Marine Technologies Inc. shows low risk based on this filing. The risk is low as this is an amended filing providing updated information rather than indicating new negative developments.

Analyst Insight

Review the amended 20-F filing for updated financial statements and disclosures regarding Vision Marine Technologies Inc.'s operations and any material changes since the last filing.

Key Numbers

• 2023-08-31 — Conformed Period of Report (Fiscal year end)
• 2024-04-05 — Filed As Of Date (Date of filing)
• 001-39730 — SEC File Number (SEC filing identifier)

Key Players & Entities

• Vision Marine Technologies Inc. (company) — Filer name
• 0001813783 (company) — Central Index Key
• 3730 (company) — Standard Industrial Classification
• 730 BOULEVARD DU CURE-BOIVIN (company) — Business Address Street 1
• BOISBRAIND (company) — Business Address City
• J7G 2A7 (company) — Business Address ZIP
• 3476150188 (company) — Business Phone
• 2023-08-31 (date) — Conformed Period of Report

FAQ

Industry Context

Vision Marine Technologies Inc. operates within the marine industry, specifically focusing on boat building and repair, and potentially related services like boat rentals.

Regulatory Implications

As a foreign private issuer, Vision Marine Technologies Inc. is subject to SEC regulations, including the requirement to file annual reports like the 20-F.

What Investors Should Do

1. Review the full amended 20-F filing for detailed financial statements and management discussion.
2. Investigate the specific data points mentioned regarding 'Electric Boat Rental Limited Member' and 'Currency Risk'.
3. Compare the information in this amended filing with previous filings to identify significant changes or trends.

Key Dates

• 2024-04-05: Filing Date — Date the amended 20-F was filed.
• 2023-08-31: Fiscal Year End — The period covered by the financial statements in the filing.

Glossary

20-F/A

An amended annual report filed by foreign private issuers with the SEC. (Indicates updated or corrected information has been provided for the company's annual disclosure.)

Ship & Boat Building & Repairing

Industry classification for companies involved in constructing, manufacturing, and repairing ships and boats. (Defines the primary business sector of Vision Marine Technologies Inc.)

Year-Over-Year Comparison

This is an amended filing (20-F/A), indicating that the company is providing updated or corrected information to its previously submitted 20-F report for the fiscal year ending August 31, 2023.

Filing Documents

• tmb-20230831x20fa.htm (20-F/A) — 2279KB
• tmb-20230831xex12d1.htm (EX-12.1) — 12KB
• tmb-20230831xex12d2.htm (EX-12.2) — 12KB
• tmb-20230831xex13d1.htm (EX-13.1) — 5KB
• tmb-20230831xex23d1.htm (EX-23.1) — 6KB
• tmb-20230831x20fa001.jpg (GRAPHIC) — 9KB
• tmb-20230831xex23d1001.jpg (GRAPHIC) — 13KB
• 0001410578-24-000431.txt (&nbsp;) — 12515KB
• tmb-20230831.xsd (EX-101.SCH) — 110KB
• tmb-20230831_cal.xml (EX-101.CAL) — 67KB
• tmb-20230831_def.xml (EX-101.DEF) — 283KB
• tmb-20230831_lab.xml (EX-101.LAB) — 724KB
• tmb-20230831_pre.xml (EX-101.PRE) — 540KB
• tmb-20230831x20fa_htm.xml (XML) — 3109KB

FINANCIAL STATEMENTS

ITEM 17. FINANCIAL STATEMENTS 1

FINANCIAL STATEMENTS

ITEM 18. FINANCIAL STATEMENTS 1

EXHIBITS

ITEM 19. EXHIBITS 40 iii Table of Contents PART III

FINANCIAL STATEMENTS

ITEM 17. FINANCIAL STATEMENTS See "Item 18, "Financial Statements"

FINANCIAL STATEMENTS

ITEM 18. FINANCIAL STATEMENTS Our financial statements were prepared in accordance with IFRS, as issued by the IASB, and are presented in Canadian dollars. Our Consolidated Financial statements are filed as part of this Annual Report. 1 Table of Contents Vision Marine Technologies Inc. Consolidated financial statements August 31, 2023 and 2022 and 2021 Report of Independent Registered Public Accounting Firm Ernst & Young LLP (PCAOB ID 1263 ) dated November 27, 2023 F-2 Consolidated Statements of Financial Position F-3 Consolidated Statements of Changes in Shareholders' Equity (Deficit) F-4 Consolidated Statements of Comprehensive Loss F-5 Consolidated Statements of Cash Flows F-6 Notes to the Consolidated Financial Statements. F-7 F-1 Table of Contents Report of independent registered public accounting firm To the Shareholders and the Board of Directors of Vision Marine Technologies Inc. Opinion on the Financial Statements We have audited the accompanying consolidated statements of financial position of Vision Marine Technologies Inc. [the "Company"] as of August 31, 2023 and 2022, the related consolidated statements of changes in shareholders' equity (deficit), comprehensive loss and cash flows for each of the three years in the period ended August 31, 2023, and the related notes [collectively referred to as the "consolidated financial statements"]. In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company at August 31, 2023 and 2022, and the results of its operations and its cash flows for each of the three years in the period ended August 31, 2023, in conformity with International Financial Reporting Standards ["IFRS"] as issued by the International Accounting Standards Board. The Company's Ability to Continue as a Going Concern The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going

View Full Filing

View this 20-F/A filing on SEC EDGAR