Eva Live (GOAI) Registration filing summary

Company overview and business model

• Operates an AI-driven digital marketing and media monetization platform, leveraging big data to optimize ad campaigns and conversion rates for clients, primarily advertising agencies and businesses in North America.

• Revenue is currently generated through a principal-based model, where the company buys media inventory, repackages it, and sells to clients, recognizing total ad spend as revenue.

• Developed the Eva XML Platform, integrating with major ad networks to automate ad creation and arbitrage media buying.

• Acquired AdFlare, a leader in header bidding technology, enhancing capabilities in programmatic advertising and publisher revenue optimization.

Financial performance and metrics

• For the three months ended March 31, 2025, revenue was $3.68M with net income of $2.0M, up from $2.24M revenue and $0.2M net income in the prior year period.

• Fiscal year 2024 revenue was $9.33M, with a net loss of $3.75M, an improvement from a $6.61M loss in 2023.

• As of March 31, 2025, cash was $316,578, working capital surplus was $3.55M, and accumulated deficit was $26.47M.

• Top three customers accounted for 88% of receivables as of March 31, 2025, indicating high customer concentration risk.

• Auditors included a going concern paragraph due to recurring losses and negative cash flows.

Use of proceeds and capital allocation

• Net proceeds from the IPO are intended for inventory ($2.6M), R&D ($750K), salaries and wages ($580K), professional services ($420K), and capital expenditures ($250K).

• Management has broad discretion over use of proceeds and may reallocate based on business needs.