Table of Contents As filed with the U.S. Securities and Exchange Commission on November 27, 2023 Registration No. 333-275503 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM F-1 Amendment No. 2 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 VISION MARINE TECHNOLOGIES INC. (Exact name of registrant as specified in its charter) incorporation or organization) Classification Code Number) Identification Number) Québec 3730 N/A (State or other jurisdiction of (Primary Standard ...

Financial Performance - Total revenues for the year ended August 31, 2023, were $5,651,502, a decrease of 23% compared to $7,350,946 in 2022[15]. - Gross profit for 2023 was $1,536,426, down from $3,285,565 in 2022, indicating a significant decline in profitability[15]. - The net loss for the year was $20,877,186, compared to a net loss of $13,111,785 in 2022, representing a 59% increase in losses[15]. - The company reported a basic and diluted loss per share of $2.25 for 2023, compared to $1.58 in 2022, indicating worsening financial performance on a per-share basis[15]. - Cash used in operating activities was $14,007,923, compared to $10,996,819 in the previous year[17]. - The company experienced a net decrease in cash of $2,465,459 during the year, compared to a decrease of $12,323,105 in 2022[19]. - The company’s cash flows from operations have been negative for three consecutive years[27]. - The company has expressed substantial doubt about its ability to continue as a going concern due to recurring losses from operations[5]. Assets and Liabilities - Total assets decreased to $24,046,512 as of August 31, 2023, down from $29,100,209 in 2022, indicating a reduction in the company's asset base[11]. - Total liabilities increased significantly to $12,482,075 in 2023, compared to $5,071,613 in 2022, highlighting a growing financial burden[11]. - Shareholders' equity fell to $11,564,437 in 2023, down from $24,028,596 in 2022, reflecting the impact of ongoing losses[11]. - Cash reserves decreased to $3,359,257 in 2023 from $5,824,716 in 2022, suggesting liquidity challenges[11]. - Trade payables rose significantly to $1,107,310 in 2023 from $737,946 in 2022, representing an increase of approximately 50.1%[13]. - Lease liabilities closed at $2,641,794 in 2023, up from $2,415,549 in 2022, indicating an increase of about 9.4%[15]. - Long-term debt increased to $305,329 in 2023 from $227,349 in 2022, reflecting a rise of approximately 34.3%[16]. Revenue Breakdown - Sales of boats decreased to $1,287,979 in 2023 from $2,459,365 in 2022, representing a decline of 48%[182]. - Boat rental and boat club membership revenue was $4,038,803 in 2023, down from $4,793,860 in 2022, a decrease of 16%[182]. - The geographical distribution of revenue shows that the USA contributed $5,116,927 in 2023, accounting for the majority of total revenue[182]. Research and Development - Research and development expenses increased to $5,704,912 in 2023, up 154% from $2,242,794 in 2022, reflecting a strong focus on innovation[15]. - The Company has available Canadian federal non-refundable investment tax credits of $642,000 for research and development expenditures, up from $240,000 in 2022, which may reduce future income taxes payable[190]. Impairments and Losses - The company recorded an impairment of $2,637,000 on debentures due to Limestone's bankruptcy filing[137]. - The fair value change of the debentures resulted in a loss of $88,866 for 2023, compared to a loss of $670,000 in 2022[138]. - The Company recorded an impairment loss on Debentures during the three months ended February 28, 2023, based on the estimated recoverable amount of the financial asset[199]. Financing Activities - The company raised net proceeds of $12,437,523 from the issuance of shares during the year[27]. - Cash provided by financing activities was $12,079,484, a significant increase from cash used in financing activities of $361,783 in 2022[17]. - The company is actively pursuing additional financing to fund operations and commercialize its E-Motion powertrain business[27]. - The company is evaluating strategies to increase liquidity, including cost savings initiatives and seeking additional financing[29]. Taxation - The income tax expense for the Company for 2023 was $(280,875), compared to a recovery of $258,343 in 2022, reflecting a significant change in tax status and adjustments in deferred income tax assets[23]. - The total income tax expense for 2023 included a change in recognition of deferred income tax assets amounting to $5,328,487, compared to $2,816,417 in 2022[23]. - The balance of unrecognized deferred tax assets increased to $(11,478,990) as of August 31, 2023, from $(6,016,278) in 2022[23]. Capital Management - The Company manages its capital structure by considering economic conditions and may issue debt or new shares as needed[192]. - The Company does not have any externally imposed capital compliance requirements as of August 31, 2023[193].

Table of Contents As filed with the U.S. Securities and Exchange Commission on November 20, 2023 Registration No. 333-________ Québec 3730 N/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM F-1 Amendment No. 1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 VISION MARINE TECHNOLOGIES INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (Primary Standard Industrial (I.R.S. Employer incorporation or organization) Classification Code ...

(Exact name of registrant as specified in its charter) Table of Contents As filed with the U.S. Securities and Exchange Commission on November 13, 2023 Registration No. 333-________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 VISION MARINE TECHNOLOGIES INC. incorporation or organization) Classification Code Number) Identification Number) (State or other jurisdiction of (Primary Standard Industrial (I.R.S. Employer Q ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of February 2023 Commission File No. 001-39730 VISION MARINE TECHNOLOGIES INC. (Translation of registrant's name into English) 730 Boulevard du Curé-Boivin Boisbriand, Québec, J7G 2A7, Canada (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual repo ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (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 August 31, 2022 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 EX ...

INVESTOR PRESENTATION VISIONMARINETECHNOLOGIES.COM P O W E R I N G NEXT-GEN FOWERTRA POWERTRAIN ELECTRIC MARINE TECHNOLOGIES VMAR | Nasdaq Listed INVESTOR PRESENTATION This presentation includes statements that are, or may be deemed, ''forward-looking statements'' under applicable securities laws. In some cases, these forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "plans," "intends," "may," "could ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F [ ] REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) or 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended August 31, 2021 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ OR [ ] SHELL CO ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ¨ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) or 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended August 31, 2020 OR ¨ TRANSITION 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 S ...