Breakeven Date Change • 1h
No longer forecast to breakeven The 7 analysts covering Better Home & Finance Holding no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$38.8m in 2027. New consensus forecast suggests the company will make a loss of US$7.94m in 2027. Recent Insider Transactions • Jun 12
Independent Director recently bought US$125k worth of stock On the 11th of June, Hugh Frater bought around 5k shares on-market at roughly US$24.34 per share. This transaction increased Hugh's direct individual holding by 4x at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth US$9.0m. Insiders have collectively bought US$10m more in shares than they have sold in the last 12 months. Recent Insider Transactions • May 20
Founder recently bought US$388k worth of stock On the 18th of May, Vishal Garg bought around 16k shares on-market at roughly US$24.87 per share. This transaction amounted to 22% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$619k. Vishal has been a buyer over the last 12 months, purchasing a net total of US$1.6m worth in shares. Board Change • May 20
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. No experienced directors. No highly experienced directors. Director Prabhu Narasimhan is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • May 09
Better Home & Finance Holding Company Provides Earnings Guidance for the Second Quarter of 2026 Better Home & Finance Holding Company provided earnings guidance for the second quarter of 2026. For the quarter, the company expects total net revenues of $53.0 million to $56.0 million. Announcement • May 04
Better Home & Finance Holding Company, Annual General Meeting, Jun 10, 2026 Better Home & Finance Holding Company, Annual General Meeting, Jun 10, 2026. Announcement • Apr 23
Better Home & Finance Holding Company to Report Q1, 2026 Results on May 07, 2026 Better Home & Finance Holding Company announced that they will report Q1, 2026 results Pre-Market on May 07, 2026 Announcement • Apr 10
Better Home & Finance Holding Company has filed a Follow-on Equity Offering. Better Home & Finance Holding Company has filed a Follow-on Equity Offering.
Security Name: Class A Common Stock
Security Type: Common Stock Announcement • Apr 09
Better Home & Finance Holding Company has completed a Follow-on Equity Offering in the amount of $60 million. Better Home & Finance Holding Company has completed a Follow-on Equity Offering in the amount of $60 million.
Security Name: Class A Common Stock
Security Type: Common Stock
Securities Offered: 1,875,000
Price\Range: $32
Discount Per Security: $1.36 Announcement • Mar 26
Better Home & Finance Holding Company Appoints Hugh Frater to Board of Directors, Effective March 23, 2026 Better Home & Finance Holding Company announced that Hugh Frater, a founding partner and former managing director of BlackRock and former CEO of Fannie Mae, has been appointed to its Board of Directors, effective March 23, 2026. Frater brings decades of experience across capital markets, housing finance, and corporate leadership to help guide Better’s long-term strategy as it scales the Tinman AI Platform. Frater was a founding partner of BlackRock, where he helped build the global leader in fixed income and mortgage-backed securities into the world's largest asset management company. His early work played a key role in shaping the modern mortgage capital markets ecosystem, connecting institutional investors to US housing finance. He later served as Chief Executive Officer and Board Member at the Federal National Mortgage Association (Fannie Mae) from 2018 to 2022, where he guided the organization through one of the most volatile periods in the US mortgage market. Prior to his role at Fannie Mae, he served as CEO and Chairman of Berkadia Commercial Mortgage LLC, a leading commercial and agency real estate lending and investment sales platform. Frater currently serves on the boards of directors of Hippo Holdings Inc. (NYSE: HIPO), Vessel Technologies, Findigs, and the Bipartisan Policy Center. He has spent his career at the intersection of global capital, housing finance, and corporate leadership. Frater’s appointment reflects Better’s continued focus on strengthening its board to guide the Company’s next phase of growth as an AI platform bringing the entire industry forward. Announcement • Mar 03
Better Home & Finance Holding Company to Report Q4, 2025 Results on Mar 13, 2026 Better Home & Finance Holding Company announced that they will report Q4, 2025 results Pre-Market on Mar 13, 2026 Announcement • Dec 19
Better Home & Finance Holding Company Appoints Barry Feierstein as Chief Operating Officer Better Home & Finance Holding Company announced the appointment of Barry Feierstein as Chief Operating Officer. Mr. Feierstein will oversee Better’s core Corporate Operations to help drive alignment and efficiency across the organization. Mr. Feierstein brings over 30 years of deep experience in leading and scaling operations across private and public companies in residential housing finance, small business lending, student lending and higher education sectors. Mr. Feierstein will partner closely with the executive team to support Better’s continued evolution into the nation’s leading AI-native home finance company. In his role, he’ll streamline the organization and translate strategic priorities into clear operational plans that support long-term growth. Prior to joining the Company, Mr. Feierstein served as Chief Operating Officer of Hamilton Insurance Agency, from January 2025 until December 2025, where he led a strategic review that culminated in the sale of the company to NFP, a division of AON. From March 2024 until December 2025, he served as Founding Chief Operating Officer of Open Castle Inc., where he will maintain a role as a strategic advisor. Mr. Feierstein served as Chief Operating Officer of EasyKnock Inc., from January 2021 until September 2024, and as a transitional advisor from February 2024 to September 2024. He also served as Chief Business Operating Officer of University of Phoenix (a business unit of Apollo Education Group) and then as the Chief Commercial Officer of Apollo Education Group. Mr. Feierstein previously held positions at SLM Corporation (formerly Sallie Mae Inc.), including managing its private credit business and then as its Executive Vice President of Sales and Marketing. Early in his career, Barry spent five years at McKinsey & Company. Mr. Feierstein holds a B.A., summa cum laude, from Tufts University and an M.B.A. from Harvard Business School. Announcement • Oct 29
Better Home & Finance Holding Company to Report Q3, 2025 Results on Nov 13, 2025 Better Home & Finance Holding Company announced that they will report Q3, 2025 results Pre-Market on Nov 13, 2025 Announcement • Oct 24
NEO Home Loans Appoints Bri Lees as Head of Marketing NEO Home Loans has appointed Bri Lees as Head of Marketing, advancing the company’s next phase of growth and deepening the connection between its advisor-led model and Better’s digital platform. Lees will lead NEO’s brand, communications, and marketing growth strategy—building the systems that connect how the company operates, shows up, and scales. Her focus is ensuring that the story and experience of working with NEO reflect the excellence of the advisors who represent it. A recognized voice in modern mortgage marketing, Lees has led growth initiatives across mortgage and fintech organizations, with published thought leadership and frameworks adopted by executive teams and field advisors' industry wide. She joins NEO’s executive team to integrate brand and growth strategy as the company expands its national advisor network.
With Lees leading brand and marketing growth strategy, NEO continues building an advisor platform designed for scale and long-term trust. Announcement • Oct 23
Better Home & Finance Holding Company Launches Wholesale HelOC and CES Platform to Offer Higher Approvals and Lower Interest Rates for Customers of Traditional Mortgage Brokers Better Home & Finance Holding Company announced the launch of their Wholesale HELOC and CES Platform powered by Tinman®? AI. The platform supports both Home Equity Line of Credit (HELOC) and Closed End Second (CES) liens under one streamlined application flow giving originators flexibility to price out variable and fixed rate loans in minutes ranging in value from $50,000 to $500,000. Better has originated over a billion dollars in HELOCs and CES liens directly to consumers and over $110 billion in mortgages through its direct to consumer, retail, and private label partnerships to date. Through the launch of the Wholesale Platform, Better will reach an even wider group of originators allowing consumers to tap equity in their homes for home improvement costs or to consolidate expensive credit card debt and manage life's expenses with lower monthly payments. Mortgage brokers will also have the flexibility to offer their customers debt-payoff, no-fee pricing and discounted rates with paid points. In addition, they'll be able to offer 12 & 24-month bank statement approval options for small business owners across a variety of investor products and pricing -- all in one easy flow without the need to switch from one lender to another. As a part of this offering, wholesale originators can share a link with new customers to set up an online account and complete simple tasks to lock a rate, finish an application, and One Day HELOC eligible customers can close in as little as one day with funding taking place in as little as five days. Better's product experience allows brokers and their customers to easily interact in the Tinman AI platform with Better Mortgage processors and underwriters who provide end-to-end support for the entire origination process. Announcement • Oct 04
Better Home & Finance Holding Company Announces Retirement of Kevin Ryan as Chief Financial Officer, Effective September 30, 2025 On September 30, 2025, Kevin Ryan, the Chief Financial Officer of Better Home & Finance Holding Company (the “Company”), announced that he would retire from the Company to pursue other opportunities. The Company has commenced a comprehensive search process to identify the next Chief Financial Officer. To ensure leadership continuity, Mr. Ryan will assist in the smooth and orderly transition of the Chief Financial Officer duties. This transition is without cause and Mr. Ryan has informed the Company that it is not due to any disagreement with the Board, the Company or management on any matter relating to the Company's operations, policies or practices. Announcement • Jul 18
Better Home & Finance Holding Company to Report Q2, 2025 Results on Aug 07, 2025 Better Home & Finance Holding Company announced that they will report Q2, 2025 results Pre-Market on Aug 07, 2025 Announcement • Jun 10
Better Home & Finance Holding Company Appoints Leah Price to Lead Tinman AI Platform — Tinman to Disrupt Encompass and Entire Mortgage Software Stack Better Home & Finance Holding Company announced it has hired Leah Price to lead the Tinman AI Platform as it offers its technology platform and software to lenders across the country. Price joins Better and the Tinman team from the Federal Housing Finance Agency (FHFA) where she led the Office of Fintech and the Office of the Chief AI Officer. One of the driving forces behind the Agency’s regulatory TechSprint on Generative AI, Leah established the FHFA as a forward-thinking leader on GenAI in the mortgage industry and among regulatory peers. Prior to the FHFA, Price worked at Figure Technologies as Vice President of Lending Ecosystem, and at Fannie Mae she led product development for Day 1 Certainty pilots, led a technology distribution team, and founded the Sales Engineer Center of Excellence. Leah is a frequent speaker at industry conferences, appearing at Mortgage Bankers Association, MISMO, DC Fintech Week, Women in Housing Finance, Five Star and Digital Mortgage conferences, covering topics such as AI and blockchain, and has served MISMO as a Senior Advisor and as Co-Chair of the Emerging Technology Community of Practice. Leah received her BA from Georgetown University and her MBA from New York University Stern School of Business. Announcement • May 11
Better Home & Finance Holding Company announced that it has received CAD 0.775 million in funding On May 9, 2025, Better Home & Finance Holding Company closed the transaction. Announcement • May 01
Better Home & Finance Holding Company, Annual General Meeting, Jun 10, 2025 Better Home & Finance Holding Company, Annual General Meeting, Jun 10, 2025. Announcement • Apr 08
Better Home & Finance Holding Company to Report Q1, 2025 Results on May 12, 2025 Better Home & Finance Holding Company announced that they will report Q1, 2025 results at 4:00 PM, US Eastern Standard Time on May 12, 2025 Announcement • Mar 20
Better Home & Finance Holding Company Announces Resignation of Riaz Valani as A Member of the Board of Directors On March 11, 2025, Riaz Valani, a member of the Board of Directors (the “Board”) of Better Home & Finance Holding Company (the “Company”) since its inception, informed the Company of his resignation as a director, effective immediately. Mr. Valani’s decision to resign as a director was not due to any disagreements with the Company on any matter relating to the Company’s operations, policies or practices but rather due to anticipated time commitments that conflict with Board responsibilities. Announcement • Mar 07
Better Home & Finance Holding Company to Report Q4, 2024 Results on Mar 18, 2025 Better Home & Finance Holding Company announced that they will report Q4, 2024 results at 4:00 PM, US Eastern Standard Time on Mar 18, 2025 Announcement • Jan 24
Better Home & Finance Holding Company (NasdaqGM:BETR) announces an Equity Buyback for $25 million worth of its shares. Better Home & Finance Holding Company (NasdaqGM:BETR) announces a share repurchase program. Under the program, the company will repurchase up to $25 million worth of its shares. The program is valid till December 31, 2025. Announcement • Oct 18
Better Home & Finance Holding Company to Report Q3, 2024 Results on Nov 13, 2024 Better Home & Finance Holding Company announced that they will report Q3, 2024 results at 9:30 AM, US Eastern Standard Time on Nov 13, 2024 Announcement • Aug 21
Better Home & Finance Holding Announces Completion of 1-For-50 Reverse Stock Split to Regain Compliance with the Minimum Bid Price Requirement Better Home & Finance Holding Company announced that on August 16, 2024, it filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation (the 'Certificate of Amendment'), with the Secretary of State of the State of Delaware, effecting its previously-announced 1-for-50 reverse stock split of the Company's common stock for the primary purpose of increasing the per share trading price of the Company's Class A common stock to enable the Company to regain compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market. The Company's Class A common stock began trading on a split-adjusted basis on the Nasdaq upon the market open on Monday, August 19, 2024, under the existing ticker symbol 'BETR' with a new CUSIP number, which is 08774B508. The Company's public warrants continue to trade on Nasdaq under the ticker symbol 'BETRW' with the same CUSIP number. Announcement • Jul 27
Better Home & Finance Holding Company to Report Q2, 2024 Results on Aug 08, 2024 Better Home & Finance Holding Company announced that they will report Q2, 2024 results Pre-Market on Aug 08, 2024 Announcement • May 12
Better Home & Finance Holding Company Appoints Chad Smith to Serve as the President and Chief Operating Officer On May 8, 2024, the board of directors of Better Home & Finance Holding Company (appointed Chad Smith to serve as the President and Chief Operating Officer of Better Mortgage Corporation, a subsidiary of the Company (“Better Mortgage”), effective retroactively as of May 6, 2024. Prior to joining Better Mortgage, Mr. Smith, 49, served as Chief Executive Officer of Mission Loans LLC, an online mortgage lender, from December 2020 to May 2024, and as the Executive Vice President, Consumer Direct and Portfolio Retention, of Caliber Home Loans Inc., a mortgage lender and mortgage loan servicer, from May 2018 to September 2020. Announcement • Apr 29
Better Home & Finance Holding Company to Report Q1, 2024 Results on May 14, 2024 Better Home & Finance Holding Company announced that they will report Q1, 2024 results at 9:30 AM, US Eastern Standard Time on May 14, 2024 Announcement • Apr 11
The Nasdaq Stock Market Grants Better Home & Finance Holding's Request for an Additional 180-Day Period, or Until October 7, 2024 to Evidence Compliance with the $1.00 Per Share Requirement On April 9, 2024, Better Home & Finance Holding Company (the ‘Company’) received formal notice that the Listing Qualifications Staff of The Nasdaq Stock Market LLC (‘Nasdaq’) granted the Company’s request for an additional 180-day period, or until October 7, 2024, (the ‘Extension Notice’) to evidence compliance with the $1.00 per share requirement for continued inclusion on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the ‘Bid Price Rule’). If at any time before October 7, 2024, the bid price of the Company’s Class A common stock, par value $0.0001 per share (the ‘Class A Common Stock’) closes at $1.00 per share or more for a minimum of ten consecutive business days, Nasdaq will provide the Company with written confirmation of compliance with the Bid Price Rule. As previously disclosed, on October 12, 2023, the Company received a letter from Nasdaq notifying the Company that it was no longer in compliance with the Bid Price Rule. In accordance with Listing Rule 5810(c)(3)(A), the Company was provided 180 calendar days, or until April 9, 2024, to regain compliance with the Bid Price Rule. In response, the Company filed an application to transfer the listing of its Class A Common Stock from the Nasdaq Global Market to the Nasdaq Capital Market. On March 7, 2024, the Company received approval from Nasdaq to transfer the listing of its Class A Common Stock, which transfer became effective on March 13, 2024. On March 11, 2024, the Company applied for an extension of the compliance period for an additional 180 days. The Company subsequently provided notice of its intention to cure the deficiency during the extended compliance period by effecting a reverse stock split, if necessary. If the Company fails to regain compliance with the Bid Price Rule during the additional compliance period, then Nasdaq will notify the Company of its determination to delist the Class A Common Stock, at which point the Company would have an opportunity to appeal the delisting determination to a Nasdaq Hearings Panel (the ‘Panel’). A timely request for a hearing will stay any suspension or delisting action pending the issuance of the Panel’s decision. The Extension Notice has no effect at this time on the listing of the Company’s Class A Common Stock, which will continue to trade on The Nasdaq Capital Market under the symbol ‘BETR.’ The Company intends to continue to actively monitor the listing of its Class A Common Stock and, as appropriate, will consider available options to resolve any deficiencies and regain compliance, including seeking stockholder approval at its annual meeting of stockholders to declare and effect one or more reverse stock splits. There can be no assurance that the Company will be able to maintain compliance with other Nasdaq listing obligations. Failure to maintain other Nasdaq listing requirements could result in the delisting of the Class A Common Stock from Nasdaq. Announcement • Apr 03
Better Home & Finance Holding Company announced delayed annual 10-K filing On 04/02/2024, Better Home & Finance Holding Company announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • Mar 20
Better Home & Finance Holding Company Announces the Launch of One Day HELOC (Home Equity Line of Credit) Better Home & Finance Holding Company announced the launch of One Day HELOC (Home Equity Line of Credit) which will provide approval decisions to consumers within 24 hours of locking their rate. Speed matters when it comes to customers accessing funds from their home equity -- especially as they look to renovations their properties, consolidate debt, or fund a major expense. One-Day HELOC will offer the speed and convenience that customers get from personal loans typically at a lower interest rate. Building on the success of the One Day Mortgage™?, program, which has made it possible for homebuyers to receive a Commitment Letter from Better Mortgage within a 24-hour turnaround time, One Day HELOC will give homeowners who complete their tasks within 4 hours of locking their HELOC rate an approval decision within 24 hours. The One Day HELOC will empower its customers with the financial tools they need to seize opportunities and achieve their homeownership goals with optimum efficiency. Announcement • Mar 14
Better Home & Finance Receives Approval from Nasdaq to Transfer the Listing of its Class A Common Stock from the Nasdaq Global Market to the Nasdaq Capital Market On March 7, 2024, Better Home & Finance Holding Company (the ‘Company’) received approval from the Listing Qualifications Staff of The Nasdaq Stock Market LLC (‘Nasdaq’) to transfer the listing of its Class A common stock, par value $0.0001 per share (the ‘Class A Common Stock’), from the Nasdaq Global Market to the Nasdaq Capital Market (the ‘Approval’). The Class A Common Stock will be transferred to the Nasdaq Capital Market effective as of the opening of business on March 13, 2024 and will continue to trade under the symbol ‘BETR.’ The Nasdaq Capital Market operates in substantially the same manner as the Nasdaq Global Market, and listed companies must meet certain financial requirements and comply with Nasdaq’s corporate governance requirements. The Company’s warrants, which are exercisable for one share of Class A Common Stock at an exercise price of $11.50, continue to trade on the Nasdaq Capital Market under the symbol ‘BETRW’. As previously disclosed, on October 12, 2023, the Company received a letter from Nasdaq notifying the Company that the bid price of its Class A Common Stock had closed at less than $1.00 per share over the previous 30 consecutive business days, and, as a result, it was no longer in compliance with Listing Rule 5450(a)(1) (the ‘Bid Price Rule’). Therefore, in accordance with Listing Rule 5810(c)(3)(A), the Company was provided 180 calendar days, or until April 9, 2024, to regain compliance with the Bid Price Rule. In response, the Company filed an application to transfer the listing of its Class A Common Stock from the Nasdaq Global Market to the Nasdaq Capital Market. As a result of the Approval, the Company is eligible to request an additional 180-day compliance period, or until October 6, 2024, to regain compliance with the Bid Price Rule. The Company applied for such additional 180-day compliance period on March 11, 2024 and has provided Nasdaq with written notice of its intention to cure the deficiency. Should Nasdaq grant an additional compliance period, the minimum bid price per share of Class A Common Stock must be at least $1.00 for at least ten consecutive business days during such additional 180-day compliance period in order to regain compliance with the Bid Price Rule. If the Company fails to regain compliance during the additional compliance period, then Nasdaq will notify the Company of its determination to delist the Class A Common Stock, at which point the Company would have an opportunity to appeal the delisting determination to a Nasdaq Hearings Panel. The Company intends to continue to actively monitor the listing of its Class A Common Stock and, as appropriate, will consider available options to resolve any deficiencies and regain compliance, including seeking stockholder approval at its annual meeting of stockholders to declare and effect one or more reverse stock splits. There can be no assurance that Nasdaq will approve an additional 180-day compliance period, or that the Company will be able to maintain compliance with other Nasdaq listing obligations. Failure to maintain other Nasdaq listing requirements could result in the delisting of the Class A Common Stock from Nasdaq. Announcement • Feb 24
Better Home & Finance Holding Company to Report Q4, 2023 Results on Mar 28, 2024 Better Home & Finance Holding Company announced that they will report Q4, 2023 results at 9:30 AM, US Eastern Standard Time on Mar 28, 2024 Announcement • Feb 17
Better Launches Fully Digital VA Loans Powered by Tinman to Improve the Homebuying Experience for Us Veterans Better Home & Finance Holding Company launched Better Mortgage VA Loans, a fully digital VA loan program available to eligible US Veterans, service members, National Guard and Reserve members, and in some cases Veterans spouses are able to qualify in all 50 states. This offering allows qualified Veterans to secure a home loan for up to 100% of their purchase price with no down payment requirement, improving the homeownership experience for individuals who served their country. With Better Mortgage, Veterans can leverage a fully digital platform to achieve their homeownership dreams faster and easier than the traditional mortgage process. Better’s VA loan will have no minimum down payment requirement for qualified borrowers, opening the door for aspiring Veteran homebuyers that may have previously been priced out. Veterans can use a Better VA Loan to purchase a primary residence and will allow them to borrow up to 100% of the purchase price (dependent on available eligibility and borrower qualification). Recent Insider Transactions Derivative • Feb 08
CFO & President exercised options and sold US$674k worth of stock On the 1st of February, Kevin Ryan exercised options to acquire 1m shares at no cost and sold these for an average price of US$0.62 per share. This trade did not impact their existing holding. Since September 2023, Kevin's direct individual holding has decreased from 712.47k shares to 630.08k. Company insiders have collectively sold US$703k more than they bought, via options and on-market transactions in the last 12 months. Announcement • Feb 07
Better Home & Finance Holding Company, Annual General Meeting, Jun 04, 2024 Better Home & Finance Holding Company, Annual General Meeting, Jun 04, 2024. Announcement • Oct 25
Better Home & Finance Holding Company to Report Q3, 2023 Results on Nov 14, 2023 Better Home & Finance Holding Company announced that they will report Q3, 2023 results at 9:30 AM, US Eastern Standard Time on Nov 14, 2023 Announcement • Oct 15
Better Home & Finance Holding Receives Non-Compliance Notice From Nasdaq On October 12, 2023, Better Home & Finance Holding Company (the “Company”) received a letter (the “Notice”) from the listing qualifications staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1) (the “Bid Price Rule”) for continued listing. The Bid Price Rule requires listed securities to maintain a minimum bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) (the “Compliance Period Rule”) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. The Notice has no immediate effect on the listing of the Company’s Class A common stock, par value $0.0001 per share (the “Common Stock”), which continues to trade on The Nasdaq Global Market. In accordance with the Compliance Period Rule, the Company has 180 calendar days to regain compliance. If, at any time before the end of this 180-day period, or through April 9, 2024, the closing bid price of the Common Stock closes at or above $1.00 per share for a minimum of 10 consecutive business days, subject to the Staff’s discretion to extend this period pursuant to Nasdaq Listing Rule 5810(c)(3)(H), the Staff will provide written notification that the Company has achieved compliance with the Bid Price Rule. If the Company does not regain compliance during this 180-day period, then the Company may be eligible to transfer to The Nasdaq Capital Market and the Staff may grant the Company a second 180 calendar day period to regain compliance pursuant to the Compliance Period Rule, provided the Company meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement. In addition, the Company would be required to notify Nasdaq of its intent to cure the minimum bid price deficiency during the second compliance period by effecting a reverse stock split if necessary. The Company will continue to monitor the closing bid price of its Common Stock and seek to regain compliance with all applicable Nasdaq requirements within the allotted compliance periods. The Company is evaluating options for regaining compliance with the Bid Price Rule, including seeking shareholder approval to declare and effect a reverse stock split. If the Company does not regain compliance within the allotted compliance periods, including any extensions that may be granted by the Staff, the Staff will provide notice that the Common Stock will be subject to delisting. The Company would then be entitled to appeal that determination to a Nasdaq hearings panel. There can be no assurance that the Company will regain compliance with the minimum bid price requirement during the 180-day compliance period, secure a second period of 180 days to regain compliance or maintain compliance with the other Nasdaq listing requirements. New Risk • Aug 31
New major risk - Negative shareholders equity The company has negative equity. Total equity: -US$293m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (48% average daily change). Negative equity (-US$293m). Earnings have declined by 75% per year over the past 5 years. Minor Risk Revenue is less than US$5m (US$1.3m revenue). Board Change • Aug 28
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Director Prabhu Narasimhan is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. 
