Company: SVREW
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001013762-25-001028
Chunk: 78

Company: SaverOne 2014 Ltd.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 5
Chunk 78
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 have identified a material weakness in our internal control over financial reporting,
and we may not be able to successfully implement remedial measures” in our Annual Report.

As
a company with less than $1.235 billion in revenue for our last fiscal year, we qualify as an “emerging growth company”
pursuant to the JOBS Act. An emerging growth company may take advantage of specified reduced reporting and other requirements that are
otherwise applicable generally to public companies. These provisions include exemption from the auditor attestation requirement under
Section 404 of the Sarbanes-Oxley Act of 2002, in the assessment of the emerging growth company’s internal control over financial
reporting.

B.
Liquidity and Capital Resources

Overview

We
have financed our operations since our inception primarily from private and public offerings, equity bridge investment fully converted
in equity in previous years, government grants from the IIA and MOE and partial exercise of the equity line and promissory notes received
from YA. As of December 31, 2024, we had NIS 13.3 million (approximately $3.64 million) in cash and cash equivalents.

For
additional information, see below in this “ Item 5B. Operating and Financial Review and Prospects - Recent Offerings”.

We
are currently in the early commercialization stage and have not yet generated significant revenues from our operations. From inception
date and through December 31, 2024, we have not generated significant revenues and we have reported ongoing losses. As of December 31,
2024, we had an accumulated deficit of NIS 170.5 million (approximately $46.1 million) and we had comprehensive loss and negative cash
flow from operating activity in amounts of NIS 34.9 million (approximately $9.4 million) and NIS 34.4 million (approximately $9.4 million)
for the year ended December 31, 2024, respectively.

Our
primary contractual obligations consist of liabilities in respect of research and development grants received from the IIA, as well as
lease liabilities in respect of corporate facilities. For information about our contractual obligations, see Notes 9 and 11 to our audited
financial statements.

We
anticipate that we will continue to incur net losses for the foreseeable future as we continue the development and potential commercialization
of our products and incur additional costs associated with being a public company.

We
believe that our existing funds will not be sufficient