EHAVE, Inc.

What they do

Ehave, Inc. is incorporated in Ontario, Canada, with principal executive offices in Miami, Florida. It operates in the SIC industry of Services-Computer Programming Services. Its SEC filing is a Form 20-F/A for the fiscal year ended December 31, 2025, but the excerpted business section does not describe specific products or services.

Revenue drivers

• Reported annual revenue — The company reported $2,183 in annual revenue for 2025, following $0 in 2016 and $78,260 in 2017. The filing excerpts do not identify a product line or segment generating this revenue.

Recent performance

Ehave reported annual revenue of $2,183 in 2025, down from $78,260 in 2017 and effectively zero in 2015 and 2016. Net loss was $2.5 million in 2025, compared with $2.1 million in 2024, $2.0 million in 2023, $4.2 million in 2022 and $10.2 million in 2021. Diluted EPS was negative $0.002 in 2025 versus negative $0.006 in 2024 and 2023. Operating cash flow was negative $264,202 in 2025, after negative $248,407 in 2024 and negative $323,628 in 2023. At December 31, 2025, total assets were $3.7 million, total liabilities were $13.1 million, and shareholder equity was negative $7.1 million.

Strategy

The filing excerpt includes forward-looking language about developing and commercializing new and improved products and services, raising capital to fund continuing operations, and gaining market acceptance for products and services. Management also cites risks related to keeping pace with rapid technological changes in its field and competition from better-established competitors. No specific investments, product roadmap, or capital commitments are described in the provided excerpt.

Risks

• Going concern — The independent auditors have expressed concern about Ehave's ability to continue as a going concern, according to the filing's risk disclosures.
• History of operating losses — Ehave reported net losses every year from 2021 through 2025, totaling roughly $21 million, and expects to continue incurring losses for the foreseeable future.
• Funding shortfall — The company states that if it is unable to obtain additional funding, its business operations will be harmed.
• OTC eligibility and liquidity — The filing warns that failure to regain or maintain eligibility for quotation on OTC Markets could unfavorably affect the company's stock price and liquidity.

Outlook

Management cautions that forward-looking statements involve uncertainties and that actual results may differ materially. The risk disclosures describe a continued need to raise capital, address going-concern concerns, and achieve market acceptance of its products and services. Ehave does not, in the excerpted filing, provide specific revenue or earnings guidance. No update is given for the $1.0 million cash and equivalents reported at December 31, 2023.