Eva Live Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Eva Live Inc. (Nevada) on May 31, 2025, with the earliest event reported on that date. The company is an emerging growth company with its principal executive offices in Los Angeles, California. Its common stock trades under the symbol "GOAI" on the OTC Markets.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and executive compensation arrangements rather than financial performance results.
Material Changes
- Executive Appointment: On May 31, 2025, the Company entered into an Employment Agreement with David Boulette to serve as Chief Executive Officer.
- Board Expansion: On June 2, 2025, the Board of Directors increased its size from five to six members and appointed Ali Shadman as an independent Director.
Management Commentary, Risks, and Unusual Items
Compensation Arrangements:
- CEO (David Boulette): Annual base salary of $552,000; performance bonus equal to 5% of net profit before tax; stock options to purchase 20,000,000 shares at $0.10 per share with a five-year vesting schedule.
- Director (Ali Shadman): Annual compensation of $50,000 payable in quarterly installments, plus reimbursement for reasonable expenses.
Director Background: Mr. Shadman brings experience in technology advisory, digital transformation, and corporate governance, having previously served as CEO of Genimous Interactive Investment Co., Ltd. and Founder of Davidan Systems Inc.
Risks and Contingencies: The filing does not disclose specific new risks or contingencies beyond standard employment and director agreement provisions.
Investor Verification Checklist
- Verify the vesting schedule and exercise conditions for the 20,000,000 CEO stock options.
- Confirm the impact of the new CEO's 5% net profit bonus on future earnings dilution or cash flow.
- Review the full Independent Director Agreement (Exhibit 10.2) for any additional governance terms.
- Assess the strategic fit of Mr. Shadman's background in digital transformation with the Company's current business model.