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    Amendment: SEC Form 20-F/A filed by Femto Technologies Inc.

    5/2/25 10:11:46 AM ET
    $FMTO
    Computer Software: Prepackaged Software
    Technology
    Get the next $FMTO alert in real time by email
    true FY 0001888151 0001888151 2024-01-01 2024-12-31 0001888151 dei:BusinessContactMember 2024-01-01 2024-12-31 0001888151 2024-12-31 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

     

     

     

    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

    [email protected]

    (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

     

     

     

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