New Risk • May 06
New major risk - Revenue and earnings growth Earnings have declined by 6.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 6.1% per year over the past 5 years. Shareholders have been substantially diluted in the past year (145% increase in shares outstanding). Revenue is less than US$1m (CA$334k revenue, or US$245k). Market cap is less than US$10m (CA$2.57m market cap, or US$1.88m). New Risk • Jan 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 145% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (145% increase in shares outstanding). Revenue is less than US$1m (CA$371k revenue, or US$270k). Market cap is less than US$10m (CA$2.09m market cap, or US$1.53m). Board Change • Dec 26
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Garth Braun was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 30
Third quarter 2025 earnings released: CA$0.001 loss per share (vs CA$0 in 3Q 2024) Third quarter 2025 results: CA$0.001 loss per share (further deteriorated from CA$0 in 3Q 2024). Revenue: CA$75.4k (down 38% from 3Q 2024). Net loss: CA$35.9k (loss widened CA$33.8k from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 111 percentage points per year, which is a significant difference in performance. Annonce • Nov 26
Petrox Resources Corp. announced that it has received CAD 0.4 million in funding On November 25, 2025, Petrox Resources Corp. closed the transaction. The company announced that has received CAD 400,000. The corporation paid to Leede Financial Inc. cash commissions of CAD 3,500, to Haywood Securities Inc. cash commissions of CAD 2,275 and to EMD Financial Inc. cash commissions of CAD 17,925, and issued to EMD Financial compensation warrants entitling EMD Financial to purchase up to 404,000 common shares, as such common shares exist after completion of the consolidation, each such compensation warrant exercisable into one common share at a price of CAD 0.05 per share from the date of the consolidation to November 24, 2027. The debentures, compensation warrants, and the common shares issuable upon the conversion of the debentures and compensation warrants are subject to a four-month hold period. Alan Chan, Gerry Peacock and David Patterson of the corporation, participated in the private placement. Annonce • Oct 29
Petrox Resources Corp. Appoints David Patterson to the Corporation's Board of Directors Petrox Resources Corp. announced that David Patterson has been appointed to the Corporation's Board of Directors. David Patterson is the Cofounder and CEO of Vested Technology Corp., a startup equity crowdfunding portal. Mr. Patterson is a former CEO of Emerita Resources Corp., an exploration and development company listed on the TSX Venture Exchange. Mr. Patterson was also CFO of Donner Metals Ltd., a mineral exploration and development company listed on the TSX Venture Exchange. For more than 30 years, he has been involved in the administration and financing of exploration companies based in North America. He holds a Master's Degree in Business Administration from Simon Fraser University (1991). Annonce • Oct 07
Petrox Resources Corp. announced that it expects to receive CAD 0.35 million in funding Petrox Resources Corp. announces a non-brokered private placement to issue convertible debentures for an aggregate principal amount of a minimum of CAD 250,000 and a maximum of CAD 350,000 on October 6, 2025. The Debentures shall mature one year from the date of issue and shall bear no interest. The Corporation may prepay the indebtedness under the Debentures at any time upon 30 days prior written notice, without penalty. The Offering and the Consolidation are subject to the approval of the TSX Venture Exchange. Principal of the Debentures would automatically convert into Common Shares upon completion of the Consolidation at a conversion price of CAD 0.05 per share. Annonce • Apr 09
Petrox Resources Corp., Annual General Meeting, Jun 05, 2025 Petrox Resources Corp., Annual General Meeting, Jun 05, 2025. Annonce • Dec 20
M&L Renewable Technology International Ltd entered into a non-binding letter of intent to acquire Petrox Resources Corp. (TSXV:PTC) in a reverse merger transaction for CAD 6.4 million. M&L Renewable Technology International Ltd entered into a non-binding letter of intent to acquire Petrox Resources Corp. (TSXV:PTC) in a reverse merger transaction for CAD 6.4 million on December 14, 2023. In exchange for all of the outstanding shares of M&L, Petrox intends issue one post-Consolidation share in the share capital of Petrox at a deemed price of CAD 0.10 per share for each share of M&L issued and outstanding at the closing of the transaction, including any shares issued pursuant to the M&L Private Placement and the Concurrent Private Placement. Assuming the maximum amounts are raised under the M&L Private Placement and the Concurrent Private Placement, Petrox will issue an aggregate of 63,750,000 common shares pursuant to the proposed transaction, for a total purchase price of up to CAD $6,375,000. The shares to be issued to M&L shareholders under the proposed transaction will be the shares of Petrox post-consolidation. It is proposed that Petrox will consolidate its issued and outstanding common shares on a 5:1 basis or such other basis as may be agreeable to the Parties having regard to the listing requirements of the Exchange. M&L shall undertake two private placements. The initial private placement will be up to 33,500,000 Class “A” Common Shares in the share capital of M&L, at a price of CAD 0.10 per share, for total gross proceeds of up to CAD 3,350,000 (the “M&L Private Placement”). It is intended that the M&L Private Placement will be completed prior to closing. The second private placement will be up to 16,500,000 Class “A” Common Shares at a price of CAD 0.10 per common share, for gross proceeds of up to CAD 1,650,000 (the “Concurrent Private Placement”) which financing will close at, or immediately prior to, closing.
It is intended that the board of directors of Petrox will be changed on closing so as to be constituted by the nominees of M&L, provided that such change does not require a shareholders’ meeting prior to the completion of the proposed transaction. Post-closing, it is intended that the current management of Petrox will continue to oversee the management of Petrox’s current oil production property in Fletwode, Saskatchewan until such time as the property is divested. The proposed transaction is subject to a number of conditions including the satisfactory completion of Petrox’s due diligence, completion of the M&L Private Placement and the Concurrent Private Placement and such approvals as may be necessary including approval of the shareholders and directors of Petrox and M&L. The transaction will also be subject to TSX Venture Exchange review and approval. Currently, it is not expected that approval from the shareholders of Petrox will be required for the proposed transaction. The LOI will terminate on May 31, 2024, unless extended by the parties by mutual consent. Reported Earnings • Nov 24
Third quarter 2023 earnings released: EPS: CA$0.001 (vs CA$0 in 3Q 2022) Third quarter 2023 results: EPS: CA$0.001 (up from CA$0 in 3Q 2022). Revenue: CA$171.6k (up 19% from 3Q 2022). Net income: CA$47.3k (up CA$55.9k from 3Q 2022). Profit margin: 28% (up from net loss in 3Q 2022). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Board Change • Sep 12
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. Independent Director Yunyan Zheng was the last director to join the board, commencing their role in 2013. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jul 28
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. Independent Director Yunyan Zheng was the last director to join the board, commencing their role in 2013. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jul 14
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. Independent Director Yunyan Zheng was the last director to join the board, commencing their role in 2013. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jun 23
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. Independent Director Yunyan Zheng was the last director to join the board, commencing their role in 2013. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • May 05
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. Independent Director Yunyan Zheng was the last director to join the board, commencing their role in 2013. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 19
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. Independent Director Yunyan Zheng was the last director to join the board, commencing their role in 2013. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Mar 21
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. Independent Director Yunyan Zheng was the last director to join the board, commencing their role in 2013. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Feb 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. Independent Director Yunyan Zheng was the last director to join the board, commencing their role in 2013. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 06
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. Independent Director Yunyan Zheng was the last director to join the board, commencing their role in 2013. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 22
Third quarter 2022 earnings released: EPS: CA$0 (vs CA$0.001 in 3Q 2021) Third quarter 2022 results: EPS: CA$0 (down from CA$0.001 in 3Q 2021). Revenue: CA$144.4k (down 11% from 3Q 2021). Net loss: CA$8.5k (down 125% from profit in 3Q 2021). Board Change • Nov 22
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. Independent Director Yunyan Zheng was the last director to join the board, commencing their role in 2013. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 14
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. Independent Director Yunyan Zheng was the last director to join the board, commencing their role in 2013. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 31
Second quarter 2022 earnings released: EPS: CA$0.003 (vs CA$0 in 2Q 2021) Second quarter 2022 results: EPS: CA$0.003 (up from CA$0 in 2Q 2021). Revenue: CA$270.5k (up 81% from 2Q 2021). Net income: CA$158.2k (up CA$143.8k from 2Q 2021). Profit margin: 59% (up from 9.7% in 2Q 2021). Buying Opportunity • Jun 13
Now 29% undervalued after recent price drop Over the last 90 days, the stock is down 20%. The fair value is estimated to be CA$0.028, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.5% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • May 29
First quarter 2022 earnings released: EPS: CA$0.001 (vs CA$0.001 loss in 1Q 2021) First quarter 2022 results: EPS: CA$0.001 (up from CA$0.001 loss in 1Q 2021). Revenue: CA$218.6k (up 107% from 1Q 2021). Net income: CA$66.0k (up CA$107.4k from 1Q 2021). Profit margin: 30% (up from net loss in 1Q 2021). Reported Earnings • Apr 29
Full year 2021 earnings released: EPS: CA$0.002 (vs CA$0.008 loss in FY 2020) Full year 2021 results: EPS: CA$0.002 (up from CA$0.008 loss in FY 2020). Revenue: CA$581.0k (up 91% from FY 2020). Net income: CA$111.5k (up CA$530.4k from FY 2020). Profit margin: 19% (up from net loss in FY 2020). Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. Independent Director Yunyan Zheng was the last director to join the board, commencing their role in 2013. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • Mar 31
Petrox Resources Corp., Annual General Meeting, Jun 08, 2022 Petrox Resources Corp., Annual General Meeting, Jun 08, 2022. Board Change • Feb 18
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. Independent Director Yunyan Zheng was the last director to join the board, commencing their role in 2013. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 27
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: EPS: CA$0.001 (up from CA$0.001 loss in 3Q 2020). Revenue: CA$161.9k (up 79% from 3Q 2020). Net income: CA$33.9k (up CA$88.1k from 3Q 2020). Profit margin: 21% (up from net loss in 3Q 2020). The move to profitability was primarily driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Board Change • Oct 06
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. Independent Director Yunyan Zheng was the last director to join the board, commencing their role in 2013. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 04
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. Independent Director Yunyan Zheng was the last director to join the board, commencing their role in 2013. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jun 01
First quarter 2021 earnings released: CA$0.001 loss per share (vs CA$0.001 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: CA$105.5k (up 5.2% from 1Q 2020). Net loss: CA$41.4k (loss narrowed 38% from 1Q 2020). Reported Earnings • May 29
First quarter 2021 earnings released: CA$0.001 loss per share (vs CA$0.001 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: CA$105.5k (up 5.2% from 1Q 2020). Net loss: CA$41.4k (loss narrowed 38% from 1Q 2020). Reported Earnings • Apr 09
Full year 2020 earnings released: CA$0.008 loss per share (vs CA$0.002 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: CA$304.5k (down 48% from FY 2019). Net loss: CA$419.0k (loss widened 304% from FY 2019). Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 19
Third quarter 2020 earnings released: CA$0.001 loss per share The company reported a poor third quarter result with increased losses and weaker revenues and control over expenses. Third quarter 2020 results: Revenue: CA$90.4k (down 33% from 3Q 2019). Net loss: CA$54.2k (loss widened 16% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings.