Editing HEVO

In short, its wireless charging standard will enable the company to create a durable, scalable network that supports widespread EV and autonomous vehicle adoption.

HEVO's software product for end users also works like a replacement for Maps and Waze, and includes route planning, pricing, reservations, and other travel features. This integrated approach allows the company to build its user base and community, acting as a lead generation tool.

Its certified partners are the installers of EV charging infrastructure for charging networks in the US, EU and Australia. Certified partners purchase EV wireless charging systems from HEVO wholesale, and then sell those systems retail to their customers. Please see the business model section for additional information.

While EV drivers and fleets are the ultimate end-users of HEVO products, its direct customers are its certified distributors and Automotive OEMs.

HEVO introduced a certified, commercial-ready product and software platform. '''Hevo began shipping certified units in mid-2021.'''

In August 2020, Hevo completed UL 2750 certification, the required global safety certification for any commercializing SAE J2954 technology.

In 2022, Hevo aims to:

'''Global crises, such as COVID-19, can have a significant effect on its business operations and revenue projections.'''

A significant outbreak of contagious diseases, such as COVID-19, in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, including the United States where Hevo principally operates, resulting in an economic downturn that could reduce the demand for its products and services and impair its business prospects, including as a result of being unable to raise additional capital on acceptable terms to us, if at all. To the extent the COVID-19 pandemic adversely affects its business and financial results, it may also have the effect of heightening many of the other risks described in this Form C. The ultimate extent to which COVID-19 impacts its results will depend on future developments, which are highly uncertain and cannot be predicted, including new information which may emerge concerning the severity of COVID-19 and the actions taken to contain it or treat its impact.

'''Its future growth and success are dependent upon consumers’ willingness to adopt electric vehicles.'''  

Its growth and future demand for its products is highly dependent upon the adoption by consumers of alternative fuel vehicles in general and electric vehicles in particular. The market for new energy vehicles is still rapidly evolving, characterized by rapidly changing technologies, competitive pricing and competitive factors, evolving government regulation and industry standards, and changing consumer demands and behaviors. If the market for electronic vehicles in general does not develop as expected, or develops more slowly than expected, its business, prospects, financial condition and operating results could be harmed.

'''Hevo may not be able to establish supply relationships for necessary materials, components or equipment or may be required to pay more than anticipated for components or equipment, which could delay the introduction of its product and negatively impact its business.'''  

Hevo relies on third-party suppliers for components and equipment necessary to develop and manufacture its power stations, power pads, adapters, and chargers. Hevo is collaborating with existing suppliers but have not yet entered into long-term supply agreements for production quantities of these materials. To the extent that Hevo is unable to enter into commercial agreements with these suppliers on beneficial terms, or these suppliers experience difficulties ramping up their supply of materials to meet its requirements, the commercialization of its wireless charging product will be delayed. To the extent its suppliers experience any delays in providing or developing the necessary materials, Hevo could experience delays in delivering on its timelines. Hevo expects to incur significant costs related to procuring materials required to manufacture and assemble the various components of its wireless charging product offering. Hevo expects to need various materials in its wireless charging product that will require the company to negotiate purchase agreements and delivery lead-times on advantageous terms. Hevo may not be able to control fluctuation in the prices for these materials or negotiate agreement with suppliers on terms that are beneficial to us. Its business depends on the continued supply of certain proprietary materials for its products. Hevo is exposed to multiple risks relating to the availability and pricing of such materials and components. Substantial increases in the prices for its raw materials or components would increase its operating costs and negatively impact its prospects. Any disruption in the supply of components, equipment or materials could temporarily disrupt research and development activities or production of its various wireless charging products until an alternative supplier is able to supply the required material. Changes in business conditions, unforeseen circumstances, governmental changes, and other factors could result in an inability for the company to obtain the components and materials and components needed for its products on a timely basis. Any of the foregoing could materially and adversely affect its results of operations, financial condition and prospects.

'''Hevo faces significant challenges in its on-going efforts to further develop and fully commercialize its electric vehicle wireless charging product and to produce it at high volumes with acceptable performance, yields and costs. The pace of development in the electric vehicle market is ultimately not predictable. Delays or failures in accomplishing particular further development objectives may delay or prevent successful commercialization of its product offering.'''  

Developing the equipment and components necessary to meet the requirements for use, and potential wide adoption, by automotive OEMs is a difficult undertaking. Hevo continues to attempt to refine and improve its product offering, and face significant challenges in continuing to improve and enhance the technology and components necessary to commercialize its wireless charging equipment and related technology in commercial volumes. Even if Hevo achieves volume production of the components necessary for its wireless charging product, if the cost, performance characteristics or other specifications of its equipment and technology falls short of its targets, its sales, product pricing and margins would likely be adversely affected. In addition, any delays in the manufacturing scale-up of its wireless charging product would negatively impact its business as it will hamper its revenues and negatively impact its commercial relationships. Delays in the full commercialization of its product would materially damage its business, prospects, financial condition, operating results and brand.

'''If any component of the equipment necessary for its wireless charging solution fails to perform as expected, its ability to further develop, market, and sell and promote its product could be harmed.'''  

Once commercial distribution of its wireless charging product commences, various equipment and components of the product may contain defects in design and manufacture that may cause them to not perform as expected or that may require repairs, recalls, and design changes. The equipment and components of its wireless charging product is inherently complex and incorporate technology and components that have not been used for other applications and that may contain defects and errors, particularly when first introduced. Hevo has a limited frame of reference from which to evaluate the long-term performance of its wireless charging product. There can be no assurance that Hevo will be able to detect and fix any defects in any component of its wireless charging prior to the sale (or other distribution) to potential consumers. If its product fails to perform as expected, Hevo could lose design wins and customers may delay deliveries, terminate further orders or initiate product recalls, each of which could adversely affect its sales and brand and could adversely affect its business, prospects, and results of operations.

'''A failure to effectively expand the Company’s marketing and sales capabilities could harm its ability to initiate and increase its customer base and achieve broader market acceptance of its products.'''  

'''Changes in federal, state or local laws and government regulation could adversely impact its business.'''

The Company is subject to legislation and regulation at the federal and local levels and, in some instances, at the state level. New laws and regulations may impose new and significant disclosure obligations and other operational, marketing and compliance-related obligations and requirements, which may lead to additional costs, risks of non-compliance, and diversion of its management's time and attention from strategic initiatives. Additionally, federal, state and local legislators or regulators may change current laws or regulations which could adversely impact its business. Further, court actions or regulatory proceedings could also change its rights and obligations under applicable federal, state and local laws, which cannot be predicted. Modifications to existing requirements or imposition of new requirements or limitations could have an adverse impact on its business.

'''Hevo operates in a highly regulated environment, and if Hevo is found to be in violation of any of the federal, state, or local laws or regulations applicable to us, its business could suffer.'''

Hevo is also subject to a wide range of federal, state, and local laws and regulations. The violation of these or future requirements or laws and regulations could result in administrative, civil, or criminal sanctions against us, which may include fines, a cease and desist order against the subject operations or even revocation or suspension of its license to operate the subject business. As a result, Hevo may incur capital and operating expenditures and other costs to comply with these requirements and laws and regulations.

The legal, regulatory, and contractual environment surrounding information security, privacy, and fraud is constantly evolving and companies that collect and retain such information are under increasing attack by cybercriminals around the world. The Company is dependent on information technology networks and systems, including the Internet, to process, transmit, and store electronic information and, in the normal course of business, the Company collects and retain certain information, including financial information, from and pertaining to its customers (and their customers). Security measures put in place by the Company cannot guarantee security, and the Company’s information technology infrastructure may be vulnerable to criminal cyber-attacks or data security incidents due to employee or third-party negligence, error, malfeasance, or other vulnerabilities. Cyber security attacks are increasingly sophisticated, change frequently, and often go undetected until after an attack has been launched. The Company may fail to identify these new and complex methods of attack, or fail to invest sufficient resources in security measures.

Recruiting and retaining highly qualified personnel is critical to its success. These demands may require the company to hire additional personnel and will require its existing management and other personnel to develop additional expertise. Hevo faces intense competition for personnel, making recruitment time-consuming and expensive. The failure to attract and retain personnel or to develop such expertise could delay or halt the development and commercialization of its product candidates. If Hevo experiences difficulties in hiring and retaining personnel in key positions, Hevo could suffer from delays in product development, loss of customers and sales and diversion of management resources, which could adversely affect operating results. Its consultants and advisors may be employed by third parties and may have commitments under consulting or advisory contracts with third parties that may limit their availability to us, which could further delay or disrupt its product development and growth plans.

'''Its business could be negatively impacted by cyber security threats, attacks and other disruptions.'''

Hevo may face advanced and persistent attacks on its information infrastructure where Hevo manages and store various proprietary information and sensitive/confidential data relating to its operations. These attacks may include sophisticated malware (viruses, worms, and other malicious software programs) and phishing emails that attack its products or otherwise exploit any security vulnerabilities. These intrusions sometimes may be zero-day malware that are difficult to identify because they are not included in the signature set of commercially available antivirus scanning programs. Experienced computer programmers and hackers may be able to penetrate its network security and misappropriate or compromise its confidential information or that of its customers or other third-parties, create system disruptions, or cause shutdowns. Additionally, sophisticated software and applications that Hevo produces or procure from third-parties may contain defects in design or manufacture, including “bugs” and other problems that could unexpectedly interfere with the operation of the information infrastructure. A disruption, infiltration or failure of its information infrastructure systems or any of its data centres as a result of software or hardware malfunctions, computer viruses, cyber-attacks, employee theft or misuse, power disruptions, natural disasters or accidents could cause breaches of data security, loss of critical data and performance delays, which in turn could adversely affect its business.

'''Security breaches of confidential customer information, or confidential employee information may adversely affect its business.'''

Its business requires the collection, transmission and retention of personally identifiable information, in various information technology systems that Hevo maintains and in those maintained by third parties with whom Hevo contracts to provide services. The integrity and protection of that data is critical to us. The information, security and privacy requirements imposed by governmental regulation are increasingly demanding. Its systems may not be able to satisfy these changing requirements and customer and employee expectations, or may require significant additional investments or time in order to do so. A breach in the security of its information technology systems or those of its service providers could lead to an interruption in the operation of its systems, resulting in operational inefficiencies and a loss of profits. Additionally, a significant theft, loss or misappropriation of, or access to, customers’ or other proprietary data or other breach of its information technology systems could result in fines, legal claims or proceedings.

'''The use of individually identifiable data by its business, its business associates and third parties is regulated at the state, federal and international levels.'''

The regulation of individual data is changing rapidly, and in unpredictable ways. A change in regulation could adversely affect its business, including causing its business model to no longer be viable. Costs associated with information security – such as investment in technology, the costs of compliance with consumer protection laws and costs resulting from consumer fraud – could cause its business and results of operations to suffer materially. Additionally, the success of its online operations depends upon the secure transmission of confidential information over public networks, including the use of cashless payments. The intentional or negligent actions of employees, business associates or third parties may undermine its security measures. As a result, unauthorized parties may obtain access to its data systems and misappropriate confidential data. There can be no assurance that advances in computer capabilities, new discoveries in the field of cryptography or other developments will prevent the compromise of its customer transaction processing capabilities and personal data. If any such compromise of its security or the security of information residing with its business associates or third parties were to occur, it could have a material adverse effect on its reputation, operating results and financial condition. Any compromise of its data security may materially increase the costs Hevo incurs to protect against such breaches and could subject the company to additional legal risk.

'''Changes in employment laws or regulation could harm its performance.'''  

Various federal and state labor laws govern its relationship with its employees and affect operating costs. These laws include minimum wage requirements, overtime pay, healthcare reform and the implementation of the Patient Protection and Affordable Care Act, unemployment tax rates, workers’ compensation rates, citizenship requirements, union membership and sales taxes. A number of factors could adversely affect its operating results, including additional government- imposed increases in minimum wages, overtime pay, paid leaves of absence and mandated health benefits, mandated training for employees, increased tax reporting and tax payment requirements for employees who receive tips, a reduction in the number of states that allow tips to be credited toward minimum wage requirements, changing regulations from the National Labor Relations Board and increased employee litigation including claims relating to the Fair Labor Standards Act.

You should not rely on the fact that its Form C is accessible through the U.S. Securities and Exchange Commission’s EDGAR filing system as an approval, endorsement or guarantee of compliance as it relates to this Offering. The U.S. Securities and Exchange Commission has not reviewed this Form C, nor any document or literature related to this Offering.

'''There is no present market for the Securities and Hevo has arbitrarily set the price.'''

The Offering price was not established in a competitive market. Hevo has arbitrarily set the price of the Securities with reference to the general status of the securities market and other relevant factors. The Offering price for the Securities should not be considered an indication of the actual value of the Securities and is not based on its asset value, net worth, revenues or other established criteria of value. Hevo cannot guarantee that the Securities can be resold at the Offering price or at any other price.