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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Amendment No. 1 to

 

FORM 20-F

20-F/A

 

REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934

 

OR

 

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the fiscal year ended December 31, 2024

 

OR

 

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from _______________ to _______________

 

OR

 

SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

Commission File Number: 001-41408

 

FEMTO TECHNOLOGIES INC.

(Exact name of Registrant as specified in its charter)

 

British Columbia, Canada

(Jurisdiction of incorporation or organization)

 

7000 Akko Road

Kiryat Motzkin

Israel

24334 

(Address of principal executive offices)

 

Gabi Kabazo

2264 East 11th Avenue, Vancouver, B.C.

Canada V5Z 1N6

604-833-6820

gabi@femtocorp.com

(Name, telephone, e-mail and/or facsimile number and address of company contact person)

 

Securities registered or to be registered pursuant to section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Subordinate Voting Shares   FMTO   Nasdaq

 

Securities registered or to be registered pursuant to Section 12(g) of the Act:

 

None

(Title of Class)

 

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act:

 

None

(Title of Class)

 

Indicate the number of outstanding shares of each of the issuer’s classes of capital or subordinate voting stock as of the close of the period covered by the annual report: 2,926,526

 

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes ☐ No ☒

 

If this report is an annual or a transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Yes ☐ No

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☒ No ☐

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☒ No ☐

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of “accelerated filer, large accelerated filer” and emerging growth company in Rule 12b-2 of the Exchange Act. (Check one):

 

Large accelerated filer ☐   Accelerated filer ☐   Non-accelerated filer
        Emerging growth company

 

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b) by the registered public accounting firm that prepared or issued its audit report.

 

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.

 

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

 

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:

 

U.S. GAAP ☐  

International Financial Reporting Standards

by the International Accounting Standards Board ☒

  Other ☐

 

If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow.

Item 17 ☐ Item 18 ☐

 

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No

 

 

 

 
 

 

EXPLANATORY NOTE

 

This is Amendment No. 1 (the “Amendment”) to the Annual Report on Form 20-F for the year ended December 31, 2024 (the “Annual Report”), by Femto Technologies Inc., a British Columbia corporation (the “Company”).

 

The sole purpose of the Amendment is to add to the Exhibit Index included in Item 19 of the Annual Report the Company’s Clawback Policy and to incorporate it by reference into the Annual Report. No other changes are being made herewith to the Annual Report.

 

 
 

 

ITEM 19 EXHIBITS

 

The following exhibits are included in the Annual Report on Form 20-F:

 

EXHIBIT INDEX

 

Exhibit

Number

  Exhibit Description
     
1.1   Form of Underwriting Agreement (1)
     
2.1   Certificate of Amalgamation (2)
     
2.2   Business Combination Agreement (2)
     
2.3   First Amendment to Business Combination Agreement (2)
     
2.4   Second Amendment to Business Combination Agreement (2)
     
3.1   Notice of Articles of the Company (2)
     
3.2   Amended and Restated Articles of the Company (3)
     
4.1   Form of March 2024 Series A Warrant (1)
     
4.2   Form of March 2024 Series B Warrant (1)
     
4.3   Form of March 2024 Pre-funded Warrant (1)
     
4.4   Form of Series A Warrant to Purchase Common Shares (8)
     
4.5   Form of Series B Warrant to Purchase Common Shares (8)
     
4.6   Form of PIPE Pre-funded Warrant to Purchase Common Shares (8)
     
10.5   Lease dated May 1, 2020, between Dalia Bzizinsky and Cannasoft Pharma Ltd. (2)
     
10.6   Trust Declaration dated as of October 1, 2020 (2)

 

 
 

 

10.8   Escrow Agreement dated March 29, 2021 among the Company, Computershare Investor Services and certain stockholders (2)
     
10.10   Stock Option Plan (7)
     
10.12   Share Purchase Agreement dated September 18, 2022, by and between the Company and Carmel Zigdon (4)
     
10.13   Shareholders Rights Plan dated January 24, 2024, by and between the Company and Computershare Investor Services Inc. (6)
     
10.14   Form of Exchange Agreement (8)
     
10.15   Form of Securities Purchase Agreement (8)
     
10.16   Form of Registration Rights Agreement (8)
     
10.17   Form of Placement Agent Agreement (8)
     
10.18   Clawback Policy (9)
     
16.1   Letter from Dale Matheson Carr -Hilton Labonte LLP (2)
     
16.2   Letter from BF Borgers CPA PC (5)
     
16.3   Letter from Reliant CPA PC (5)
     
99.1   Authorization for Dealing in Controlled Substances Issued by the Ministry of Health dated October 12, 2020 (2)
     
99.2   Cultivation Farm license (7)
     
99.3   License to deal with a Controlled Substance without Contact Issued by the Ministry of Health, Israeli Medical Cannabis Agency dated February 5, 2023 (4)

 

(1) Incorporated by reference to the Company’s Amendment No. 1 to its Registration Statement on Form F-1 filed on March 7, 2024
(2) Incorporated by reference to the Company’s Form 20-F/A filed on July 1, 2024.
(3) Incorporated by reference to the Company’s Form 6-K filed on February 12, 2024
(4) Incorporated by reference to the Company’s Annual Report on Form 20-F filed on April 27, 2023
(5) Incorporated by reference to the Company’s Form 6-K filed on January 17, 2023
(6) Incorporated by reference to the Company’s Form 6-K filed on January 24, 2024
(7) Incorporated by reference to the Company’s Registration Statement on Form F-1 filed on February 28, 2024
(8) Incorporated by reference to the Company’s Form 6-K filed on February 28, 2025
(9) Incorporated by reference to the Company’s Form 6-K filed on November 17, 2023

 

 
 

 

SIGNATURES

 

The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the undersigned to sign this Annual Report on its behalf.

 

  FEMTO TECHNOLOGIES INC.
     
  By: /s/ Yftah Ben Yaackov
  Name: Yftah Ben Yaackov
  Title: Chief Executive Officer

 

Date: May 2, 2025