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 generated mainly through a principal-based model, buying media inventory, repackaging, and selling to clients, with all revenues currently from this model.

• The Eva XML Platform automates ad buying/selling, integrates with major ad networks, and manages arbitrage opportunities.

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

• Top three customers account for a significant portion of receivables, indicating high client concentration risk.

Financial performance and metrics

• For the six months ended June 30, 2025, revenue was $7.8M, up from $4.4M in the prior year period, with net income of $4.6M compared to a net loss of $163K.

• Fiscal year 2024 revenue was $9.3M, up from $5.1M in 2023, with a net loss of $3.75M, improved from a $6.6M loss in 2023.

• As of June 30, 2025, cash was $261K, working capital surplus $6.1M, and accumulated deficit $23.8M.

• General and administrative expenses decreased as a percentage of revenue due to operational efficiency.

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

Use of proceeds and capital allocation

• Net proceeds of ~$4.5M ($5.2M if over-allotment exercised) will be allocated to acquisitions ($2.5M), R&D ($750K), salaries ($580K), professional services ($420K), and capital expenditures ($250K).

• Management has broad discretion over use of proceeds; funds are expected to support operations for at least 12 months.