AVAX ONE TECHNOLOGY LTD. current report, 22 November 2023

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Business Context and Reporting Period

This Form 8-K was filed by AgriForce Growing Systems, Ltd. on November 27, 2023, reporting an event dated November 22, 2023. The filing does not present quarterly or annual financial results. The request metadata identifies Avax One Technology Ltd., but the filing names AgriForce Growing Systems, Ltd.; this discrepancy should be verified.

Key Financial Metrics

  • Revenue, profit, cash flow, margins, debt, liquidity, and other financial metrics: the filing text does not provide clear values.
  • The filing does not include financial statements or a discussion of operating performance.

Material Changes Versus Prior Period

On November 22, 2023, the board approved a clawback policy for executive officers. The policy applies if the company later restates financial information and was adopted in accordance with Exchange Act Rule 10D-1. No other material operating or financial changes are disclosed.

Guidance, Outlook, Risks, and Unusual Items

  • The filing contains standard forward-looking statement disclaimers, including risks related to the company’s industry, operations, results, acquisitions, uncertainties, and management assumptions.
  • The company states that actual results may differ materially from forward-looking statements and generally does not undertake to update them except as required by law.
  • The clawback policy is the principal unusual governance item reported.
  • Exhibit 99.1 contains the clawback policy.

Important Facts to Verify

  • Confirm the correct registrant: the filing identifies AgriForce Growing Systems, Ltd., while the request metadata identifies Avax One Technology Ltd.
  • Review Exhibit 99.1 for the scope, triggering events, repayment requirements, and covered executives under the clawback policy.
  • Confirm the company’s current trading status and securities: common shares trade under AGRI and Series A warrants under AGRIW on Nasdaq Capital Market, as stated in the filing.
  • Review subsequent filings for any financial restatement, clawback demand, or related governance developments.