Ehave, Inc. Files 20-F for FY 2022
Ticker: EHVVF · Form: 20-F · Filed: Dec 30, 2024 · CIK: 1653606
Sentiment: neutral
Topics: 20-F, annual-report, foreign-issuer
TL;DR
Ehave Inc. filed its 2022 20-F, check financials for this Canadian tech firm.
AI Summary
Ehave, Inc. filed its 20-F report for the fiscal year ending December 31, 2022. The company, previously known as 2304101 Ontario Inc., is incorporated in A6 and operates in computer programming services. Its principal business address is in Oakville, Ontario, Canada.
Why It Matters
This filing provides essential financial and operational information for investors and analysts tracking Ehave, Inc.'s performance and compliance with SEC regulations.
Risk Assessment
Risk Level: medium — The filing is a standard annual report for a foreign private issuer, but the limited detail provided in the extract necessitates a medium risk assessment.
Key Numbers
- 20221231 — Fiscal Year End (Reporting period for the 20-F filing)
- 20241230 — Filing Date (Date the 20-F was submitted to the SEC)
Key Players & Entities
- Ehave, Inc. (company) — Filer of the 20-F report
- 2304101 Ontario Inc. (company) — Former name of Ehave, Inc.
- Oakville, Ontario, Canada (location) — Business and mailing address
FAQ
What is Ehave, Inc.'s primary business activity?
Ehave, Inc. operates in the SERVICES-COMPUTER PROGRAMMING SERVICES sector, with SIC code 7371.
When was Ehave, Inc. previously known by another name?
Ehave, Inc. was formerly known as 2304101 Ontario Inc., with a name change on 20150921.
What is the SEC file number for Ehave, Inc.?
The SEC file number for Ehave, Inc. is 000-56146.
Where is Ehave, Inc. located?
Ehave, Inc.'s business and mailing address is 2020 Winston Park Drive, Suite 201, Oakville, Ontario, L6H 6X7.
What period does this 20-F filing cover?
This 20-F filing covers the fiscal year ending December 31, 2022.
Filing Stats: 4,620 words · 18 min read · ~15 pages · Grade level 14.3 · Accepted 2024-12-30 16:32:32
Key Financial Figures
- $1 — e in this Annual Report on Form 20-F. $1 Canadian dollar equivalent in U.S. doll
- $5,091,470 — ated in 2011. We reported a net loss of $5,091,470 and $11,481,906 for the fiscal year end
- $11,481,906 — e reported a net loss of $5,091,470 and $11,481,906 for the fiscal year ended December 31,
- $34,167,210 — ively. We had an accumulated deficit of $34,167,210. We cannot anticipate when, if ever, ou
- $2,711,363 — and warrants. We raised an aggregate of $2,711,363 through loans and issuance of convertib
- $3,349,518 — ,210 and had a stockholders' deficit of $3,349,518 at December 31, 2022. As a result of ou
Filing Documents
- form20-f.htm (20-F) — 1309KB
- ex12-1.htm (EX-12.1) — 19KB
- ex12-2.htm (EX-12.2) — 18KB
- ex13-1.htm (EX-13.1) — 7KB
- ex13-2.htm (EX-13.2) — 7KB
- 0001493152-24-052506.txt ( ) — 4836KB
- ehvvf-20221231.xsd (EX-101.SCH) — 37KB
- ehvvf-20221231_cal.xml (EX-101.CAL) — 42KB
- ehvvf-20221231_def.xml (EX-101.DEF) — 176KB
- ehvvf-20221231_lab.xml (EX-101.LAB) — 308KB
- ehvvf-20221231_pre.xml (EX-101.PRE) — 231KB
- form20-f_htm.xml (XML) — 508KB
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 51 Item 12. Description of Securities Other Than Equity Securities 51 Item 13. Defaults, Dividend Arrearages and Delinquencies 51 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 51 Item 15.
Controls and Procedures
Controls and Procedures 52 Item 16. [Reserved] 53 Item 16A. Audit Committee Financial Expert 53 Item 16B. Code of Ethics 53 Item 16C. Principal Accountant Fees and Services 53 Item 16D. Exemptions from the Listing Standards for Audit Committees 54 Item 16E. Purchase of Equity Securities by the Issuer and Affiliated Purchases 54 Item 16F. Change in Registrant's Certifying Accountants 54 Item 16G. Corporate Governance 54 Item 16H. Mine Safety Disclosure 54 Item 17.
Financial Statements
Financial Statements 54 Item 18
Financial Statements
Financial Statements 54 Item 19. Exhibits 55
Financial Statements
Financial Statements 57 2 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This annual report contains "forward-looking statements". Forward-looking statements reflect the current view about future events. When used in this annual report, the words "anticipate," "believe," "estimate," "expect," "future," "intend," "plan," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward-looking statements. Such statements include, but are not limited to, statements contained in this annual report relating to our business strategy, our future operating results and liquidity and capital resources outlook. Forward-looking forward–looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, our ability to develop and commercialize new and improved products and services; our ability to raise capital to fund continuing operations; a continued decline in general economic conditions nationally and internationally; decreased demand for our products and services; market acceptance of our products and services; our ability to protect our intellectual property rights; the impact of any infringement actions or other litigation brought against us; competition from other providers and products; changes in government regulation; our ability to complete customer transactions and cap
Selected Financial Data
Selected Financial Data The selected financial data presented below for the three years ended December 31, 2022, is presented in U.S. dollars and is derived from our financial statements prepared in accordance with Generally Accepted Accounting Principles in the United States ("U.S. GAAP"). We have derived the selected financial data as of December 31, 2022, 2021, and 2020, and for the years ended December 31, 2022, 2021, and 2020, from our audited financial statements included elsewhere in this Annual Report on Form 20-F. The information set forth below should be read in conjunction with our financial statements (including notes thereto) included under Item 18 and "Operating and Financial Review and Prospects" included under Item 5 and other information provided elsewhere in this annual report on Form 20-F and our financial statements and related notes. The selected financial data in this section is not intended to replace the financial 2022 2021 2020 $ $ $ Net loss (5,091,470 ) (11,481,906 ) (3,514,736 ) Net comprehensive loss (5,043,597 ) (11,495,093 ) (3,528,589 ) Basic and diluted loss per share (1) (0.01 ) (0.07 ) (0.11 ) Total assets 1,357,770 2,528,826 1,955,607 Shareholders' deficit (3,349,518 ) (901,300 ) (398,409 ) Cash dividends declared per share (2) - - - Weighted average number of common shares outstanding 302,889,686 140,342,653 32,622,248 Note: (1) In 2022 we issued 101,373,125, in 2021 we issued 177,353,963, in 2020 we issued 40,980,848 shares of common stock (2) We have not declared or paid any dividends since incorporation. Exchange Rate Data The following table sets forth the exchange rates for Canadian dollars expressed in U.S. dollars that have been used in the audited financial $1 Canadian dollar equivalent in U.S. dollars At December 31, 2021 0.7901 At December 31
Risk Factors
Risk Factors Investment in our common shares involves a high degree of risk. You should carefully consider, among other matters, the following risk factors in addition to the other information in this Annual Report on Form 20-F when evaluating our business because these risk factors may have a significant impact on our business, financial condition, operating results or cash flow. If any of the material risks described below or in subsequent reports we file with the Securities and Exchange Commission ("SEC") actually occur, they may materially harm our business, financial condition, operating results or cash flow. Additional risks and uncertainties that we have not yet identified or that we presently consider to be immaterial may also materially harm our business, financial condition, operating results or cash flow. RISKS RELATED TO OUR BUSINESS AND INDUSTRY Our limited operating history makes evaluating our business and future prospects difficult and may increase the risk of your investment. We have a very limited operating history on which investors can base an evaluation of our business, operating results and prospects. We have no operating history with respect to commercializing our software applications and products. Consequently, it is difficult to predict our future revenues, if any, and appropriately budget for our expenses, and we have limited insight into trends that may emerge and affect our business. We began processes to develop relationships with potential customers and distribution partners in November 2016. Completion of our cognitive assessment and remediation tools and the further development and commercialization of our products is dependent upon the availability of sufficient funds. This limits our ability to accurately forecast the cost of the development of our products. If the markets and applications of our products do not develop as we expect or develop more slowly than we expect, our business, prospects, financial condition and op