Company: SVREW
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001013762-25-001028
Chunk: 47

Company: SaverOne 2014 Ltd.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 3
Chunk 47
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 incur significant legal, accounting and other expenses that we did not
incur as a private company. We are subject to the reporting requirements of the Exchange Act, the other rules and regulations of the
SEC, and the rules and regulations of Nasdaq and provisions of the Companies Law that apply to public companies such as us. The expenses
that are required in order to be a public company are material and compliance with the various reporting and other requirements applicable
to public companies require considerable time and attention of management. For example, the Sarbanes-Oxley Act and the rules of the SEC
and national securities exchanges have imposed various requirements on public companies, including requiring establishment and maintenance
of effective disclosure and financial controls. Our management and other personnel devote a substantial amount of time to these compliance
initiatives. These rules and regulations will continue to increase our legal and financial compliance costs and will make some activities
more time-consuming and costly. For example, we expect these rules and regulations to make it more difficult and more expensive for us
to obtain director and officer liability insurance, and we may be required to accept reduced policy limits on coverage or incur substantial
costs to maintain the same or similar coverage. The impact of these events could also make it more difficult for us to attract and retain
qualified personnel to serve on our board of directors, our board committees, or as executive officers.

We
have identified a material weakness in our internal control over financial reporting, and we may not be able to successfully implement
remedial measures.

We
have identified control deficiencies in our financial reporting process that constitute material weaknesses for the years ended December
31, 2024, 2023, and 2022 (which were primarily due to the fact that we were a private company prior to June 2, 2022). In 2024, the material
weakness was related to the segregation of duties and consequent lack of sufficient internal controls. For additional information see
“ Item 15 - Controls And Procedures”.

Although
we have taken certain measures to address the identified material weakness such as appointing in 2024 a SOX consultant to assist us with
assessment of Sarbanes-Oxley compliance requirements and improvement of overall internal controls, implementing internal policies and
procedures related to internal control over financial reporting and hiring additional internal accounting and financial staff with appropriate
public company experience and technical accounting knowledge, we will need to retain additional qualified personal in order to fully
address our material weakness. However, we cannot