New Risk • Jul 29
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 65% 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 Negative equity (-US$56m). Earnings have declined by 15% per year over the past 5 years. Shareholders have been substantially diluted in the past year (65% increase in shares outstanding). Minor Risk Market cap is less than US$100m (CA$35.2m market cap, or US$24.9m). Annonce • Jul 21
Ionik Corporation Announces Management Changes Ionik Corporation announced that Jeff Collins will transition from his dual role as Chief Financial Officer and Chief Operating Officer to a dedicated Chief Financial Officer role. Operating responsibilities previously overseen through the corporate COO function were assumed by the respective leadership teams of SHIFT44 and Q1Media. Kevin Ferrell transitioned from his role as President to a strategic advisory role with the Company, supporting management on key initiatives and long-term growth opportunities. Day-to-day executive oversight of the operating businesses resided with the leadership teams of SHIFT44 and Q1Media. Veronica Colquhoun resigned from the Company, including her roles as Legal Counsel and Corporate Secretary. Ted Hastings, Chief Executive Officer, assumed the role of Corporate Secretary. Reported Earnings • May 06
Full year 2025 earnings released: US$0.095 loss per share (vs US$0.077 loss in FY 2024) Full year 2025 results: US$0.095 loss per share (further deteriorated from US$0.077 loss in FY 2024). Revenue: US$195.3m (up 9.1% from FY 2024). Net loss: US$33.9m (loss widened 52% from FY 2024). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. Annonce • Apr 14
Ionik Corporation, Annual General Meeting, Jun 25, 2026 Ionik Corporation, Annual General Meeting, Jun 25, 2026. New Risk • Mar 20
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$10.8m (US$7.86m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). Negative equity (-US$27m). Earnings have declined by 27% per year over the past 5 years. Market cap is less than US$10m (CA$10.8m market cap, or US$7.86m). Annonce • Feb 18
Ionik Corporation Announces Resignation of Natasha De Masi from the Board of Directors , Effective February 17, 2026 Ionik Corporation announced the resignation of Natasha De Masi from her position on the Board of Directors (the "Board"), effective February 17, 2026. Ms. De Masi has also stepped down from her role as a member of the Governance and Compensation Committee. Following Ms. De Masi's departure, the Board is comprised of four directors, three of whom are independent. The Board has appointed Ben Colabrese to the Governance and Compensation Committee, effective immediately, to fill the vacancy created by Ms. De Masi's resignation. The Company intends to consider the appointment of an additional director at its next annual general meeting of shareholders. New Risk • Feb 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 21% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). Negative equity (-US$27m). Earnings have declined by 27% per year over the past 5 years. Minor Risk Market cap is less than US$100m (CA$19.8m market cap, or US$14.6m). Reported Earnings • Nov 27
Third quarter 2025 earnings released: US$0.003 loss per share (vs US$0.012 loss in 3Q 2024) Third quarter 2025 results: US$0.003 loss per share (improved from US$0.012 loss in 3Q 2024). Revenue: US$48.9m (up 11% from 3Q 2024). Net loss: US$1.04m (loss narrowed 69% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 31
Second quarter 2025 earnings released: US$0.008 loss per share (vs US$0.001 profit in 2Q 2024) Second quarter 2025 results: US$0.008 loss per share (down from US$0.001 profit in 2Q 2024). Revenue: US$53.5m (up 20% from 2Q 2024). Net loss: US$2.79m (down US$2.93m from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. New Risk • Jul 18
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 19% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Negative equity (-US$24m). Earnings have declined by 38% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (23% increase in shares outstanding). Market cap is less than US$100m (CA$53.3m market cap, or US$38.9m). Reported Earnings • Jun 02
First quarter 2025 earnings released: US$0.01 loss per share (vs US$0.011 loss in 1Q 2024) First quarter 2025 results: US$0.01 loss per share. Revenue: US$41.8m (down 1.1% from 1Q 2024). Net loss: US$3.58m (loss widened 10.0% from 1Q 2024). New Risk • Apr 19
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 23% This is considered a minor 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 Negative equity (-US$3.6m). Earnings have declined by 47% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Shareholders have been diluted in the past year (23% increase in shares outstanding). Market cap is less than US$100m (CA$30.0m market cap, or US$21.7m). Annonce • Apr 15
Ionik Corporation, Annual General Meeting, Jun 26, 2025 Ionik Corporation, Annual General Meeting, Jun 26, 2025. New Risk • Mar 30
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: CA$558k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$3.6m). Earnings have declined by 47% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Significant insider selling over the past 3 months (CA$558k sold). Market cap is less than US$100m (CA$25.4m market cap, or US$17.7m). New Risk • Mar 06
New major risk - Revenue and earnings growth Earnings have declined by 47% 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 Negative equity (-US$3.6m). Earnings have declined by 47% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (CA$28.6m market cap, or US$20.0m). Reported Earnings • Dec 01
Third quarter 2024 earnings released: US$0.012 loss per share (vs US$0.009 loss in 3Q 2023) Third quarter 2024 results: US$0.012 loss per share (further deteriorated from US$0.009 loss in 3Q 2023). Revenue: US$44.0m (up 17% from 3Q 2023). Net loss: US$3.39m (loss widened 39% from 3Q 2023). Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 3.7% growth forecast for the Media industry in North America. Buy Or Sell Opportunity • Oct 08
Now 24% undervalued Over the last 90 days, the stock has risen 17% to CA$0.17. The fair value is estimated to be CA$0.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Buy Or Sell Opportunity • Sep 10
Now 22% undervalued Over the last 90 days, the stock has risen 17% to CA$0.17. The fair value is estimated to be CA$0.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Reported Earnings • Aug 29
Second quarter 2024 earnings released: US$0.001 loss per share (vs US$0.018 loss in 2Q 2023) Second quarter 2024 results: US$0.001 loss per share (improved from US$0.018 loss in 2Q 2023). Revenue: US$44.8m (up 14% from 2Q 2023). Net loss: US$308.0k (loss narrowed 94% from 2Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 3.4% growth forecast for the Media industry in North America. Reported Earnings • Jun 04
First quarter 2024 earnings released: US$0.011 loss per share (vs US$0.015 loss in 1Q 2023) First quarter 2024 results: US$0.011 loss per share (improved from US$0.015 loss in 1Q 2023). Revenue: US$42.3m (up 16% from 1Q 2023). Net loss: US$3.25m (loss narrowed 23% from 1Q 2023). Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 8.4% growth forecast for the Entertainment industry in North America. New Risk • May 16
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.4% This is considered a minor 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 Share price has been highly volatile over the past 3 months (28% average weekly change). Earnings have declined by 54% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (2.4% increase in shares outstanding). Market cap is less than US$100m (CA$33.2m market cap, or US$24.4m). Recent Insider Transactions Derivative • May 10
President of Q1Media & CEO of Q1Media exercised options to buy CA$23k worth of stock. On the 9th of May, William Wiemann exercised options to buy 188k shares at a strike price of around CA$187,500, costing a total of CA$35b. This transaction amounted to 1.5% of their direct individual holding at the time of the trade. Since June 2023, William's direct individual holding has increased from 11.45m shares to 12.20m. Company insiders have collectively bought CA$70b more than they sold, via options and on-market transactions, in the last 12 months. New Risk • May 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 26% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (26% average weekly change). Earnings have declined by 54% per year over the past 5 years. Minor Risk Market cap is less than US$100m (CA$32.9m market cap, or US$24.1m). Reported Earnings • May 01
Full year 2023 earnings released: US$0.20 loss per share (vs US$0.11 loss in FY 2022) Full year 2023 results: US$0.20 loss per share (further deteriorated from US$0.11 loss in FY 2022). Revenue: US$140.6m (up 29% from FY 2022). Net loss: US$56.2m (loss widened 154% from FY 2022). Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 8.4% growth forecast for the Entertainment industry in Canada. Annonce • Apr 30
Phoenix Games Holding Uk Ltd completed the acquisition of Popreach Technologies Private Limited from PopReach Corporation (TSXV:INIK). Phoenix Games Holding Uk Ltd agreed to acquire Popreach Technologies Private Limited from PopReach Corporation (TSXV:INIK) for $1.5 million on April 26, 2024. The board of directors of PopReach Corporation (TSXV:INIK) approves the deal.
Phoenix Games Holding Uk Ltd completed the acquisition of Popreach Technologies Private Limited from PopReach Corporation (TSXV:INIK) on April 29, 2024. Annonce • Jan 23
PopReach Corporation Announces Director Resignations PopReach Corporation announced the resignations of Jon Walsh and Christopher Locke from their positions on the Board of Directors. The Board is actively conducting a process of identifying and evaluating new directors to fill the vacancies left by the departures of Mr. Walsh and Mr. Locke. Annonce • Jan 09
PopReach Corporation announced that it has received $0.127522 million in funding On January 9, 2024, PopReach Corporation closed the transaction. The transaction included participation from a single investor. Reported Earnings • Nov 29
Third quarter 2023 earnings released Third quarter 2023 results: US$0.009 loss per share. Net loss: US$2.45m (flat on 3Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Entertainment industry in Canada. Annonce • Nov 21
PopReach Corporation (TSXV:INIK) acquired Substantially all of the assets of S44 LLC for approximately $40.2 million. PopReach Corporation (TSXV:INIK) entered into an agreement to acquire Substantially all of the assets of S44 LLC for approximately $40.2 million on November 20, 2023. The aggregate consideration of approximately $40.0 million, being comprised of $17.75 million in cash (the "Cash Consideration"), the issuance of 4,790 Class B non-voting shares of Acquisition Subsidiary (the "Class B Shares"), and the issuance of a convertible debenture in the aggregate principal amount of $16.75 million (the "Debenture"). The Purchaser is also assuming up to $1.0 million in current liabilities on SHIFT44’s balance sheet. The Class B Shares are exchangeable at the option of the Seller into common shares of the Company (the "Ionik Shares") at any time following Closing on the basis of 9,238 Ionik Shares for every 1 Class B Share, entitling the Seller to an aggregate of 44.25002 million Ionik Shares, with an approximate value of $5.5 million based on the November 20, 2023.The Bank of Montreal, as the sole arranger, sole bookrunner and administrative agent, and National Bank of Canada, Export Development Canada and Toronto Dominion Bank, as syndicate lenders, under Ionik’s $115 million syndicated credit facility previously announced on May 25, 2023.
PopReach Corporation (TSXV:INIK) completed the acquisition of Substantially all of the assets of S44 LLC on November 20, 2023. New Risk • Oct 27
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 55% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (3.1% increase in shares outstanding). Market cap is less than US$100m (CA$45.1m market cap, or US$32.6m). Price Target Changed • Sep 03
Price target decreased by 14% to CA$0.50 Down from CA$0.58, the current price target is an average from 3 analysts. New target price is 144% above last closing price of CA$0.20. Stock is down 36% over the past year. The company posted a net loss per share of US$0.11 last year. Reported Earnings • Sep 01
Second quarter 2023 earnings released: US$0.018 loss per share (vs US$0.007 loss in 2Q 2022) Second quarter 2023 results: US$0.018 loss per share (further deteriorated from US$0.007 loss in 2Q 2022). Revenue: US$39.1m (up 89% from 2Q 2022). Net loss: US$4.98m (loss widened 245% from 2Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Entertainment industry in Canada. New Risk • Aug 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 56% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (23% increase in shares outstanding). Market cap is less than US$100m (CA$71.3m market cap, or US$53.1m). Annonce • Jul 15
PopReach Corporation Announces CFO Changes, Effective August 1, 2023 PopReach Corporation announced the appointment of Jeff Collins as interim CFO effective August 1, 2023. Mr. Collins will replace Greg Donaldson who has resigned for personal reasons with effect on that same date. A formal search for a new CFO is underway. Mr. Collins has more than 20 years of experience managing private and public companies with extensive financial, strategic, operational and transaction experience in software, technology, and digital media industries. He co-founded Federated Foundry and has previously served as the CFO of two TSX listed companies. Jeff is also a CPA and a graduate of Wilfrid Laurier University. Annonce • Jun 08
PopReach Corporation Launches PAYDAY Crime War Worldwide PopReach Corporation announced the worldwide launch of PAYDAY Crime War on the Google Play and Apple App Stores. Officially licensed from Starbreeze Studios AB ("Starbreeze"), PAYDAY Crime War is the first PAYDAY game on mobile platforms, as well as the first free-to-play version of one the world's most successful PC game franchises. Key GAME FEATURES: First mobile free-to-play version. Take on other heisters in co-op PvP (Player vs. Player) "Cash Grab" mode. Team up with friends and form a 4 person crew to pull off the most epic heists in co-op PvE (Player vs. Enemy) mode. Collect an arsenal of weapons and gear to customize heister for each mission. Earn dozens of iconic characters with unique specialties to choose from. Annonce • Feb 08
PopReach Corporation, Annual General Meeting, Apr 24, 2023 PopReach Corporation, Annual General Meeting, Apr 24, 2023. Annonce • Nov 17
Popreach Announces Executive Changes PopReach Corporation announced the following leadership appointments effective as of December 1, 2022: Jeff Collins, currently Chief Development Officer, will succeed Mr. Ferrell and assume the role of Chief Operating Officer. Mr. Collins has more than 15 years' experience in executive roles with technology companies and 20 years of experience managing private and public companies with extensive financial, strategic, operational and transaction experience in software, technology, and digital media industries. He co-founded Federated Foundry, acting as CFO and is also the current CFO of Crucial Interactive Holdings Inc. ("CIHI"). Prior to that, he served as CEO and COO of CIHI and has served as CFO of publicly traded companies, such as, Perk Inc. and Cyberplex. Jeff is also a CPA and a graduate of Wilfrid Laurier University. Kevin Ferrell, currently Chief Operating Officer, will become President of the Company succeeding Christopher Locke. Mr. Ferrell has more than 10 years' experience in executive roles with digital technology companies and 25 years' experience advising private and public companies in the technology space in the areas of finance, operations, M&A and tax. Prior to co-founding Federated Foundry, acting as COO, he was President of System1 Canada and President of System1's (NYSE:SST) Publishing and Agency operations. Prior to that he was President and co-founder of Qool Media, a performance publisher and marketing agency which was acquired by System1 in March 2017. He also currently serves on several boards and advisory committees of both public and private companies. Annonce • Nov 16
PopReach Corporation to Report Q3, 2022 Results on Nov 29, 2022 PopReach Corporation announced that they will report Q3, 2022 results at 9:30 AM, US Eastern Standard Time on Nov 29, 2022 Board Change • Nov 16
No independent directors There are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. No independent directors (7 non-independent directors). Director Iain Klugman is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Annonce • Oct 17
PopReach Announces Christopher Locke to Step Down as President, Effective from November 30, 2022 PopReach Corporation announced that Christopher Locke will step down from his role as President of the Company, effective November 30, 2022, for personal reasons. To help ensure an orderly transition, Mr. Locke has entered into a consulting agreement with the Company beginning on December 1, 2022, to advise on matters related to strategy, corporate development, and PopReach's portfolio of games. Mr. Locke will continue to serve as a member of Company's Board of Directors (the "Board"). Annonce • Sep 10
PopReach Corporation (TSXV:POPR) acquired Ubiquity Innovations B.V. for USD 44.3 million. PopReach Corporation (TSXV:POPR) acquired Ubiquity Innovations B.V. for USD 44.3 million on September 9, 2022. The aggregate consideration is comprised of US$18.7M in cash, the issuance of 41,000,000 PopReach common shares, the issuance of a convertible debenture in the aggregate principal amount of US$13.75M and the assumption of US$1.25M of existing liabilities on Ubiquity's balance sheet.
PopReach Corporation (TSXV:POPR) completed the acquisition of Ubiquity Innovations B.V. on September 9, 2022.