Datavault AI Inc 2024年度报告

For the transition period from ___________ to ___________ Datavault AIInc.(Exact name of registrant as specified in its charter) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act. Yes☐No⌧ Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d)of the Act. Yes☐No⌧ Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Act of 1934 during thepreceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past90days.Yes⌧No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of Regulation S-T(§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required to submit such files).Yes⌧No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerginggrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule12b-2 of theExchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section13(a)of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control overfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect thecorrection of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of theregistrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act). Yes☐No⌧ As of June 30, 2024, the last business day of the registrant’s most recently completed second fiscal quarter, the aggregate market value of the common stock held bynon-affiliates of the registrant was $12,377,000based on the closing price of $2.57 for the registrant’s common stock as quoted on the Nasdaq Capital Market on thatdate. Shares of common stock held by each director, each officer and each person who owns 10% or more of the outstanding common stock have been excluded fromthis calculation in that such persons may be deemed to be affiliates. The determination of affiliate status is not necessarily conclusive. The registrant had64,202,635shares of its common stock outstanding as of March 27, 2025. None. TABLE OF CONTENTS PARTI Item 1.Business2Item1A.Risk Factors11Item1B.Unresolved Staff Comments11Item 1C.Cybersecurity11Item 2.Properties11Item 3.Legal Proceedings12Item 4.Mine Safety Disclosures12 PARTII Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases ofEquity Securities12Item 6.[Reserved]12Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations13Item 7A.Quantitative and Qualitative Disclosures about Market Risk16Item 8.Financial Statements and Supplementary Data16Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure16Item9A.Controls and Procedures16Item9B.Other Information17Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections17 PARTIII Item 10.Directors, Executive Officers and Corporate Governance18Item 11.Executive Compensation27Item 12.Security Ownership of Certain Beneficial Owners and Management and Related StockholderMatters33Item 13.Certain Relationships and Related Transactions, and Director Independence34Item 14.Principal Accountant Fees and Services37 Item 15.Exhibits and Financial Statement Schedules38 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K (this “Report”) contains “forward-looking statements” within the meaning ofSection 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the SecuritiesExchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements discuss matters that arenot historical facts. Because they discuss future events or conditions, forward-looking statements may includewords such