Annonce • Sep 05
1498798 B.C. Ltd agreed to acquire 69.08% stake in Armada Data Corporation (TSXV:ARD) for CAD 0.5 million. 1498798 B.C. Ltd entered into an agreement to acquire 69.08% stake in Armada Data Corporation (TSXV:ARD) for CAD 0.5 million on September 4, 2024. The agreement was negotiated and entered into by the board of directors of Armada. The Board established a special committee comprised of directors independent from the transaction to review any proposal received from the 1498798 B.C. Ltd or any other person to acquire all of Armada’s issued and outstanding shares. The agreement also provides for a termination fee of CAD 0.05 million payable by Armada if the Acquisition Agreement is terminated in certain circumstances.
The transaction is subject to by regulatory approvals and other customary conditions, approval of merger agreement by target board, approval of offer by acquirer board and approval of offer by target shareholders. The Board of Directors of Armada Data Corporation formed a special committee for the transaction. Following its review and in consideration of, amongst other things, the Fairness Opinion, the Special Committee has unanimously recommended that the Board approve the transaction. The transaction is expected to close on or around the end of October of 2024, subject to satisfaction of all conditions to closing set out in the agreement.
Harris + Harris LLP acted as legal advisor for Armada Data Corporation and the Special Committee. Keyser Mason Ball LLP acted as legal advisor for 1498798 B.C. Ltd. Koger Valuations Inc. acted as the financial advisor and fairness opinion provider to Armada and the Special Committee. Reported Earnings • May 02
Third quarter 2024 earnings released: EPS: CA$0.001 (vs CA$0.002 loss in 3Q 2023) Third quarter 2024 results: EPS: CA$0.001 (up from CA$0.002 loss in 3Q 2023). Revenue: CA$573.4k (up 5.4% from 3Q 2023). Net income: CA$25.8k (up CA$66.2k from 3Q 2023). Profit margin: 4.5% (up from net loss in 3Q 2023). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 35% per year and the company’s share price has also fallen by 35% per year. Board Change • May 02
Less than half of directors are independent 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. 2 independent directors (3 non-independent directors). Independent Director Glenn Hrabovsky was the last independent director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Feb 28
Less than half of directors are independent 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. 2 independent directors (3 non-independent directors). Independent Director Glenn Hrabovsky was the last independent director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Jan 30
Second quarter 2024 earnings released: EPS: CA$0 (vs CA$0.006 loss in 2Q 2023) Second quarter 2024 results: EPS: CA$0 (improved from CA$0.006 loss in 2Q 2023). Revenue: CA$559.6k (up 3.8% from 2Q 2023). Net income: CA$8.1k (up CA$119.5k from 2Q 2023). Profit margin: 1.4% (up from net loss in 2Q 2023). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 35% per year, which means it has not declined as severely as earnings. Board Change • Jan 12
Less than half of directors are independent 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. 2 independent directors (3 non-independent directors). Independent Director Glenn Hrabovsky was the last independent director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 29
First quarter 2024 earnings released: CA$0.004 loss per share (vs CA$0.001 loss in 1Q 2023) First quarter 2024 results: CA$0.004 loss per share (further deteriorated from CA$0.001 loss in 1Q 2023). Revenue: CA$528.2k (down 7.3% from 1Q 2023). Net loss: CA$75.1k (loss widened CA$65.6k from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 49 percentage points per year, which is a significant difference in performance. Board Change • Oct 16
Less than half of directors are independent 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. 2 independent directors (3 non-independent directors). Independent Director Glenn Hrabovsky was the last independent director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Sep 29
Full year 2023 earnings released: CA$0.02 loss per share (vs CA$0.019 loss in FY 2022) Full year 2023 results: CA$0.02 loss per share (further deteriorated from CA$0.019 loss in FY 2022). Revenue: CA$2.17m (down 14% from FY 2022). Net loss: CA$349.6k (loss widened 4.4% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Annonce • Sep 15
Armada Data Corporation, Annual General Meeting, Nov 09, 2023 Armada Data Corporation, Annual General Meeting, Nov 09, 2023. Board Change • Sep 15
Less than half of directors are independent 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. 2 independent directors (3 non-independent directors). Independent Director Glenn Hrabovsky was the last independent director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Aug 18
Less than half of directors are independent 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. 2 independent directors (3 non-independent directors). Independent Director Glenn Hrabovsky was the last independent director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annonce • Aug 03
Armada Data Corporation Announces Resignation of Rob Montemarano, Director Armada Data Corporation announced that Rob Montemarano has resigned as a director of the Company effective July 27, 2023. Board Change • Jul 07
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. 6 highly experienced directors. Independent Director Glenn Hrabovsky 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 26
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. 6 highly experienced directors. Independent Director Glenn Hrabovsky 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 • May 01
Third quarter 2023 earnings released: CA$0.002 loss per share (vs CA$0.004 loss in 3Q 2022) Third quarter 2023 results: CA$0.002 loss per share (improved from CA$0.004 loss in 3Q 2022). Revenue: CA$543.9k (down 11% from 3Q 2022). Net loss: CA$40.4k (loss narrowed 40% from 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. Board Change • Apr 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. 6 highly experienced directors. Independent Director Glenn Hrabovsky 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 • Jan 29
Second quarter 2023 earnings released: CA$0.006 loss per share (vs CA$0.002 loss in 2Q 2022) Second quarter 2023 results: CA$0.006 loss per share (further deteriorated from CA$0.002 loss in 2Q 2022). Revenue: CA$539.1k (down 18% from 2Q 2022). Net loss: CA$111.4k (loss widened 260% from 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Board Change • Nov 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. 6 highly experienced directors. Independent Director Glenn Hrabovsky 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 • Oct 29
First quarter 2023 earnings released: CA$0.001 loss per share (vs CA$0 in 1Q 2022) First quarter 2023 results: CA$0.001 loss per share (further deteriorated from CA$0 in 1Q 2022). Revenue: CA$570.1k (down 14% from 1Q 2022). Net loss: CA$9.5k (down 299% from profit in 1Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 114 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 30
Full year 2022 earnings released: CA$0.019 loss per share (vs CA$0.001 profit in FY 2021) Full year 2022 results: CA$0.019 loss per share (down from CA$0.001 profit in FY 2021). Revenue: CA$2.53m (down 20% from FY 2021). Net loss: CA$334.7k (down CA$351.1k from profit in FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Board Change • Sep 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. 6 highly experienced directors. Independent Director Glenn Hrabovsky 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 • Sep 17
Armada Data Corporation, Annual General Meeting, Nov 17, 2022 Armada Data Corporation, Annual General Meeting, Nov 17, 2022. Board Change • Sep 01
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. 6 highly experienced directors. Independent Director Glenn Hrabovsky 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 • Aug 02
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. 6 highly experienced directors. Independent Director Glenn Hrabovsky 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 • Apr 27
Third quarter 2022 earnings released: CA$0.004 loss per share (vs CA$0.004 loss in 3Q 2021) Third quarter 2022 results: CA$0.004 loss per share (vs CA$0.004 loss in 3Q 2021). Revenue: CA$613.8k (down 3.6% from 3Q 2021). Net loss: CA$67.1k (loss narrowed 13% from 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. 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. 6 highly experienced directors. Independent Director Glenn Hrabovsky 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 • Jan 30
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: CA$0.002 loss per share (down from CA$0 in 2Q 2021). Revenue: CA$657.1k (down 18% from 2Q 2021). Net loss: CA$30.9k (down CA$38.4k from profit in 2Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Reported Earnings • Sep 28
Full year 2021 earnings released The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: CA$3.15m (down 4.0% from FY 2020). Net income: CA$16.4k (down 67% from FY 2020). Profit margin: 0.5% (down from 1.5% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 15% per year. Reported Earnings • May 03
Third quarter 2021 earnings released: CA$0.004 loss per share (vs CA$0.003 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: CA$636.8k (down 31% from 3Q 2020). Net loss: CA$76.8k (down 235% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 24
Upcoming dividend of CA$0.01 per share Eligible shareholders must have bought the stock before 29 April 2021. Payment date: 31 May 2021. Trailing yield: 6.5%. Within top quartile of Canadian dividend payers (4.7%). Higher than average of industry peers (2.3%). Reported Earnings • Oct 30
First quarter earnings released Over the last 12 months the company has reported total profits of CA$178.6k, with earnings increasing by CA$208.6k from the prior year. Total revenue was CA$3.51m over the last 12 months, up 20% from the prior year.