Israeli Technology Company BYND Cannasoft Enterprises Inc. Announces Financial Results For The Year Ended December 31, 2023

(TheNewswire)

Vancouver, British Columbia (April 2, 2024) –TheNewswire – BYNDCannasoft Enterprises Inc. (Nasdaq: BCAN) (“BYND” or the “Company”), hasreleased its financial results for year ended December 31, 2023. Fullversions of BYND’s audited consolidated financial statements andmanagement discussion and analysis for the period, can be found onwww.sedarplus.ca

2023 Year-End Financial Highlights:

• Revenue decreased 4% to $1,076,861 for the year endedDecember 31, 2023 from $1,123,072 for the same period in2022. 

• Gross Profit decreased to 37% for the year endedDecember 31, 2023 from 55% for the same period in 2022. 

• Net loss increased 1,011% to $18,495,121 for the yearended December 31, 2023 from $1,664,684 for the same period in2022. 

• Working capital decreased to 2,441,703 for December 31,2023 from $2,987,975 for December 31,2022. 

• Total assets decreased to $36,801,368 for December 31,2023 from $49,903,208 for December 31,2022. 

• Total shares outstanding as of December 31, 2023 were42,553,166 (223,964 post reverse split). 

Summary of Quarterly Comparison ofRevenue, Gross Profit and Net Loss

*Includes impairments of intangible assets and assetunder construction in the amount of $13,142,481.

Mr. Yftah Ben Yaackov, BYND’s CEO noted that“Despite the fact that the company went through a difficult year,starting with changes in the core areas of its activities in Israeland ending with the difficult war in Gaza, we were able to raisesignificant funds that will allow us to further develop the strategicchange we are working on, the goal of which is penetration into theglobal FemTech market through the EZ-G device that will be launchedthis year to the public and through other devices in the field ofwellness based on our technology-based patent pending smart deliverysystem. We believe that we have the knowledge and technology requiredto bring to the market high-quality products that will make asignificant difference.”

About BYND Cannasoft EnterprisesInc.  

BYND Cannasoft Enterprises is an Israeli-basedintegrated software and cannabis company. BYND Cannasoft owns andmarkets "Benefit CRM," a proprietary customer relationshipmanagement (CRM) software product enabling small and medium‐sizedbusinesses to optimize their day‐to‐day business activities suchas sales management, personnel management, marketing, call centeractivities, and asset management. Building on our 20 years ofexperience in CRM software, BYND Cannasoft is developing an innovativenew CRM platform to serve the needs of the medical cannabis industryby making it a more organized, accessible, and price-transparentmarket. The Cannabis CRM System will include a Job Management(BENEFIT) and a module system (CANNASOFT) for managing farms andgreenhouses with varied crops.

 BYND Cannasoft owns the patent-pending intellectualproperty for the EZ-G device. This therapeutic device uses proprietarysoftware to regulate the flow of low concentrations of CBD oil, hempseed oil, and other natural oils into the soft tissues of the femalereproductive system to potentially treat a wide variety of women'shealth issues. The EZ-G device includes technological advancements asa sex toy with a more realistic experience and the prototype utilizessensors to determine what enhances the users' pleasure. The user cancontrol the device through a Bluetooth app installed on a smartphoneor other portable device. The data will be transmitted and receivedfrom the device to and from the secure cloud using artificialintelligence (AI). The data is combined with other antonymic userpreferences to improve its operation by increasing sexualsatisfaction. Commercialization of the EZ-G device is subject toreceipt of regulatory approvals.

For further information please refer to informationavailable on the Company’s website: www.cannasoft-crm.com, and onSEDAR+: www.sedarplus.ca.

Gabi Kabazo

Chief Financial Officer

Tel: (604) 833-6820

e‐mail: ir@cannasoft-crm.com

Cautionary Note RegardingForward-Looking Statements

This press release includes certain statements that maybe deemed “forward-looking statements” within the meaning ofSection 27A of the U.S. Securities Act of 1933, as amended, andSection 21E of the U.S. Securities Exchange Act of 1934, as amendedand under Canadian securities laws. When used in this press release,the words “may”, “would”, “could”, “will”,“intend”, “plan”, “anticipate”, “believe”,“estimate”, “expect” and similar expressions are intended toidentify forward‐looking statements. Such statements are subject tocertain risks and uncertainties, and actual circumstances, events orresults may differ materially from those projected in suchforward-looking statements.

Although the Company believes the expectationsexpressed in such forward-looking statements are based on reasonableassumptions, such statements are not guarantees of future performance,and actual events or developments may differ materially from those inforward-looking statements. Such forward-looking statementsnecessarily involve known and unknown risks and uncertainties, whichmay cause the Company’s actual performance and financial results infuture periods to differ materially from any projections of futureperformance or results expressed or implied by such forward-lookingstatements. Such statements reflect the Company's current views withrespect to future events and are subject to such risks anduncertainties. Many factors could cause actual results to differmaterially from the statements made, including future financialperformance, unanticipated regulatory requests and delays, finalpatents approval, and those factors discussed in filings made by thecompany with the Canadian securities regulatory authorities, including(without limitation) in the company's management's discussion andanalysis for the year ended December 31, 2023 and annual informationform dated April 2, 2024, which are available under the company'sprofile at www.sedarplus.ca, and in the Company’s Annual Report onForm 20-F for the year then ended that was filed with the U.S.Securities and Exchange Commission on April 2, 2024. Should one ormore of these factors occur, or should assumptions underlying theforward-looking statements prove incorrect, actual results may varymaterially from those described herein as intended, planned,anticipated, or expected. We do not intend and do not assume anyobligation to update these forward‐looking statements, except asrequired by law. Any such forward-looking statements representmanagement's estimates as of the date of this press release. While wemay elect to update such forward-looking statements at some point inthe future, we disclaim any obligation to do so, even if subsequentevents cause our views to change. Shareholders are cautioned not toput undue reliance on such forward‐looking statements.

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