Gross profit increased 43% over the prior year Reports significant advancement in robotic service and AI capabilities expected to enhance market leadership and propel growth NEW YORK, April 29, 2024 (GLOBE NEWSWIRE) -- Guardforce AI Co., Limited ("Guardforce AI" or the "Company") (NASDAQ:GFAI, GFAIW))), an integrated security, AI and Robot-as-a-Service (RaaS) provider, today announced financial results and provided a business update for the year ended December 31, 2023. Lei (Olivia) Wang, Chairwoman and Chi ...

Exhibit 99.1 CORRECTION: Guardforce AI Reports Revenue of $34.5 Million for 2022; Robotics AI Solutions Revenue Increases 245.1% This release acts as a correction to the release posted on 04/21/2023 from Guardforce AI to certain figures in the financial statements including consolidated balance sheets and statements of cash flows NEW YORK, NY / April 21, 2023 / Guardforce AI Co., Limited ("Guardforce AI" or the "Company") (NASDAQ:GFAI, GFAIW), an integrated security provider specializing in secured logistic ...

Financial Performance - Net loss for 2022 was $18,666,058, compared to $5,491,654 in 2021 and $3,142,255 in 2020[469] - Adjusted EBITDA for 2022 was $(11,408,965), compared to $(207,037) in 2021 and $3,033,349 in 2020[469] - Cash and cash equivalents were $8.2 million as of December 31, 2022, down from $15.9 million in 2021 and $10.1 million in 2020[473] - Net cash outflows from operating activities were $19,190,237 for 2022, compared to inflows of $979,164 in 2021 and $4,907,501 in 2020[475] - Net cash outflows from investing activities were $9,405,629 for 2022, compared to $5,224,439 in 2021 and $1,431,506 in 2020[475] - Net cash inflows from financing activities were $20,937,985 for 2022, compared to $10,653,312 in 2021 and outflows of $1,132,964 in 2020[475] Capital and Financing - The company completed two private placements in 2022, raising $10.3 million in January and $10.0 million in April[479] - The company has a long-term loan of $13.42 million with WK Venture Success Limited, due on December 31, 2024[481] Research and Development - Research and development expenses for 2022 were $99,947, primarily for upgrading robot features in China[483] - The company paid $3,000,000 in 2022 for the development of the GFAI Intelligent Cloud Platform V2.0 (ICP)[483] Executive and Director Compensation - Total cash compensation and benefits paid to officers for fiscal year 2022 was approximately $925,654[499] - Total cash compensation and benefits paid to directors for fiscal year 2022 was approximately $632,901[500] - CEO Lei Wang received $351,344 in compensation for 2022[502] - CFO Yu-Heng Ma received $65,137 in compensation for 2022[502] - COO Kee Yun Kwan received $248,431 in compensation for 2022[502] - President Lin Jia received $73,086 in compensation for 2022[502] - Independent directors each received $53,710 in compensation for 2022[502] Corporate Governance - The board consists of four directors, with three being independent[505] - The Audit Committee is composed of three independent directors: Donald Duane Pangburn, John Fletcher, and David Ian Viccars[510] - The Compensation Committee assists in reviewing and approving compensation structures for directors and executive officers[513] - The company has entered into indemnification agreements with its directors and executive officers to protect them against certain liabilities and expenses[524] - The company's directors are not subject to a term of office and hold their positions until removed by shareholders or due to specific conditions such as death or bankruptcy[521] - The company's board of directors has the power to borrow money, mortgage or charge its property, and issue debentures, bonds, and other securities[520] - The company's directors have a fiduciary duty to act honestly, in good faith, and in the best interests of the company under Cayman Islands law[519] Employee and Labor Relations - The company has 1,755 full-time employees as of December 31, 2022, with 1,610 in operations and 145 in supporting functions[526] - The company has two trade unions, Cash in Transit Union and Cash in Transit Officer Labour Union, which help protect employee rights and mediate disputes[527] - The company conducts regular meetings with trade unions to discuss the Employee Benefit Agreement (EBA) annually, as required by Thai Labour Laws[528] - All employees undergo a police criminal record check, address proof check, and references check during the recruitment process[531] Shareholder Information - The CEO, Lei Wang, holds 21,333 ordinary shares, representing 1.10% of the total shares[532] - Guardforce AI Technology Ltd is the largest shareholder with 204,166 ordinary shares, representing 10.54% of the total shares[532]

Guardforce AI Co., Ltd (NASDAQ:GFAI) Q4 2021 Earnings Conference Call March 31, 2022 8:30 AM ET Company Participants Terence Yap – Chairman Olivia Wang – Chief Executive Officer Cynthia Ng – Chief Financial Officer Conference Call Participants Mike Albanese – EF Hutton Hunter Diamond – Diamond Equity Operator Good morning, ladies and gentlemen. Thank you for standing by. Welcome to the Guardforce AI Year-End 2021 Corporate Update Conference Call. During today’s presentation, all parties will be in a listen- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...

Exhibit 99.1 FINANCIAL STATEMENTS GUARDFORCE AI CO., LIMITED AND SUBSIDIARIES UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30, 2021 and 2020 | Contents | Page(s) | | --- | --- | | Unaudited Interim Condensed Consolidated Statements of Financial Position | F-2 | | Unaudited Interim Condensed Consolidated Statements of Profit or Loss | F-3 | | Unaudited Interim Condensed Consolidated Statements of Comprehensive Income Loss | F-4 | | Unaudited Interim Condensed Co ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report ___________ For the trans ...

Exhibit 99.1 The year 2020 was an extraordinary one of uncertainty and turbulence. The COVID-19 pandemic has had a profound and significant impact on all of us. Our 1,786 colleagues located within 21 branch offices throughout Thailand have had to quickly adjust and adapt. Sadly, some have lost friends and loved ones, so I would like to extend my deepest sympathy to all of those who have suffered during the pandemic. We now live, work and play in a different world. A resilient financial performance by a resi ...