New Risk • Apr 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended July 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$173k free cash flow). Shares are highly illiquid. Negative equity (-CA$6.0m). Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Revenue is less than US$1m (CA$1.0 revenue, or US$1.0). Market cap is less than US$10m (CA$5.22m market cap, or US$3.77m). Minor Risk Latest financial reports are more than 6 months old (reported July 2024 fiscal period end). New Risk • Apr 17
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% 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 Less than 1 year of cash runway based on free cash flow trend (-CA$173k free cash flow). Shares are highly illiquid. Negative equity (-CA$6.0m). Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Revenue is less than US$1m (CA$1.0 revenue, or US$1.0). Market cap is less than US$10m (CA$5.59m market cap, or US$4.03m). Annonce • Jan 10
MYND Life Sciences Inc. Announces Colin Campbel Stepping Down as Chief Executive Officer MYND Life Sciences Inc. announced that with the successful retirement of the debenture, Colin Campbell has stepped down from his CEO role, having successfully completed the goal of repositioning the Company for future success. Mr. Campbell will be retaining his role as a Director and will be supporting the process to identify a new CEO that will be effective in continuing to move the Company forward through the clinical testing phase of the proprietary biomarker test for depression and to commercialization. The Board will provide further updates to the market regarding the appointment of a new CEO in due course. Annonce • Nov 23
MYND Life Sciences Inc. Appoints Lana Hoogenboom to Its Board of Directors MYND Life Sciences Inc. announced the appointment of Lana Hoogenboom to its board of directors. Throughout her career, Lana Hoogenboom has held key positions in the pharmaceutical industry and has spent the last 12 years with Otsuka Canada. With extensive experience in the pharmaceutical sector and a proven track record in fostering relationships in the Pharmaceutical industry, Lana Hoogenboom will play a pivotal role in advancing the company's commercialization strategies and partnership initiatives. Lana's deep understanding of the complexities of the pharmaceutical landscape and the ability to expand market presence and develop innovative solutions for unmet needs. Annonce • Apr 06
MYND Life Sciences Inc., Annual General Meeting, Jun 06, 2024 MYND Life Sciences Inc., Annual General Meeting, Jun 06, 2024. New Risk • Mar 05
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$198k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$198k free cash flow). Shares are highly illiquid. Negative equity (-CA$5.0m). Earnings have declined by 18% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$1.20m market cap, or US$880.4k). Minor Risk Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Buy Or Sell Opportunity • Feb 08
Now 26% overvalued Over the last 90 days, the stock has fallen 22% to CA$0.035. The fair value is estimated to be CA$0.028, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has declined by 9.3%. Board Change • Feb 05
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 3 experienced directors. No highly experienced directors. Independent Director Roslyn Ritchie-Derrien is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Annonce • Feb 01
MYND Life Sciences Inc. Appoints Laurie Bakke as an Independent Non-Executive Director MYND Life Sciences Inc. to welcome Ms. Laurie Bakke who was recently appointed to MYND's Board. Ms. Bakke joins as an independent non-executive director, bringing over 30 years of experience in the banking and finance industry to the Board. Ms. Bakke has extensive experience in domestic and international commercial finance with expertise in strategic direction, financial performance, risk and opportunity assessment, and business development. Ms. Bakke has led finance divisions for both privately held and publicly traded banks in the United States and Sweden. She possesses the ability to transform businesses, to generate targeted business and financial returns and to build high-performing teams. Buy Or Sell Opportunity • Jan 23
Now 33% undervalued The stock has been flat over the last 90 days, currently trading at CA$0.02. The fair value is estimated to be CA$0.03, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has declined by 9.3%. Buying Opportunity • Jan 12
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 56%. The fair value is estimated to be CA$0.026, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has declined by 9.3%. Buying Opportunity • Dec 14
Now 35% undervalued after recent price drop Over the last 90 days, the stock is down 33%. The fair value is estimated to be CA$0.031, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has declined by 9.3%. Board Change • Dec 12
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. 4 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Roslyn Ritchie-Derrien is the most experienced director on the board, commencing their role in 2020. Independent Director Scott Nicoll was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Annonce • Dec 07
MYND Life Sciences Inc. Appoints Mr. John Campbell as Chief Executive Officer MYND Life Sciences Inc. announced the immediate appointment of Mr. John Campbell as Chief Executive Officer. Mr. Campbell is distinguished for his expertise in financial services and brings a vast repertoire of experience in new business development, mergers, acquisitions, and corporate turnarounds. His pragmatic approach and strategic proficiency are evident in his guidance of professionals within competitive industries. Moreover, he was the President and Co-Founder of Odyssey Trust Company, a North American transfer agent that has effectively reshaped the industry's benchmarks for transfer agent and trust services. Mr. Campbell holds a Bachelor's Degree in Commerce, which he earned with distinction from the University of Alberta, and an ICD.D designation from the Institute of Corporate Directors. Annonce • Dec 06
MYND Life Sciences Inc. Appoints John Campbell as President MYND Life Sciences Inc. Announced the Appointment of Mr. John Campbell as President. Mr. Campbell is distinguished for his expertise in financial services and brings a vast repertoire of experience in new business development, mergers, acquisitions, and corporate turnarounds. His pragmatic approach and strategic proficiency are evident in his guidance of professionals within competitive industries. Moreover, he was the President and Co-Founder of Odyssey Trust Company, a North American transfer agent that has effectively reshaped the industry's benchmarks for transfer agent and trust services. Mr. Campbell holds a Bachelor's Degree in Commerce, which he earned with distinction from the University of Alberta, and an ICD.D designation from the Institute of Corporate Directors. Buying Opportunity • Nov 24
Now 35% undervalued Over the last 90 days, the stock is up 33%. The fair value is estimated to be CA$0.031, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has declined by 9.3%. Annonce • Oct 27
MYND Life Sciences Inc. (CNSX:MYND) entered into a non-binding letter of intent to acquire Cava Healthcare Inc. MYND Life Sciences Inc. (CNSX:MYND) entered into a non-binding letter of intent to acquire Cava Healthcare Inc. on October 25, 2023. The proposed merger will be preceded by independent third-party valuations of both companies. Arrangements within each company will be negotiated by subcommittees of unconflicted Directors from both CAVA and MYND and it will require affirmative votes by the Boards of Directors of both companies. It is anticipated the transaction will be completed in Q1 2024. Buying Opportunity • Oct 20
Now 63% undervalued after recent price drop Over the last 90 days, the stock is down 88%. The fair value is estimated to be CA$0.013, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has declined by 9.3%. New Risk • Jul 31
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.1% 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 (96% average weekly change). Negative equity (-CA$5.0m). Earnings have declined by 36% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$956.3k market cap, or US$722.6k). Minor Risk Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Buying Opportunity • Jul 26
Now 56% undervalued after recent price drop Over the last 90 days, the stock is down 33%. The fair value is estimated to be CA$0.045, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Annonce • Jan 10
MYND Life Sciences Inc., Annual General Meeting, Mar 09, 2023 MYND Life Sciences Inc., Annual General Meeting, Mar 09, 2023. Board Change • Dec 28
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. No experienced directors. No highly experienced directors. Independent Director Roslyn Ritchie-Derrien is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Nov 16
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. No experienced directors. No highly experienced directors. Independent Director Roslyn Ritchie-Derrien is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Oct 28
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. No experienced directors. No highly experienced directors. Independent Director Roslyn Ritchie-Derrien is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Apr 27
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. No experienced directors. No highly experienced directors. Independent Director Roslyn Ritchie-Derrien is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Annonce • Apr 22
MYND Lifesciencs Inc. announced that it expects to receive CAD 3.5 million in funding MYND Lifesciencs Inc. announced a non-brokered private placement of common shares for minimum gross proceeds of CAD 3,000,000 and maximum gross proceeds of CAD 3,500,000 on April 21, 2022. All the shares issued are subject to a statutory hold period of four months and one day from the date of issuance thereof. The transaction is subject to final acceptance by the Canadian Securities Exchange. The transaction will close immediately after (and subject to and conditional upon) closing of the purchase by the company of all of the issued and outstanding shares in the share capital of Tidal Care Inc. o/a Tidal Psychedelics. Annonce • Dec 16
MYND Lifesciencs Inc. Provides Update on Depression Gene Modulation Pathway Patent Application MYND Life Sciences Inc. announced it has completed the National Phase filing of its Patent Cooperation Treaty (PCT) patent application, following on previously submitted provisional patent applications that describe: "A Method of Immune Modulation by Modulating a Specific Gene." According to the World Health Organization, over 300,000,000 people globally suffer from depression and other psychiatric disorders. Major Depressive Disorder and Treatment Resistant Depression have a greater than 50% chance of relapse using conventional methods of treatment. Traditional treatments focus solely on symptom suppression, not the root cause. Covid-19 has accelerated the ongoing mental health crisis around the world. In a June 2020CDC survey, 31% of US respondents reported symptoms of anxiety or depression, 13% started/increased substance use, 26% reported stress-related symptoms, 11% reported serious thoughts of suicide in preceding 30 days. These numbers are double pre-pandemic levels. The Patent Cooperation Treaty (PCT) is an international treaty with more than 150 Contracting States. The PCT makes it possible to seek patent protection for an invention simultaneously in a large number of countries by filing a single "international" patent application instead of filing several separate national or regional patent applications. The granting of patents remains under the control of the national or regional patent offices in what is called the "national phase". Board Change • Dec 01
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. 2 experienced directors. No highly experienced directors. Independent Director Roslyn Ritchie-Derrien is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Annonce • Sep 10
MYND Lifesciencs Inc. announced that it has received CAD 2.7 million in funding On September 9, 2021, MYND Lifesciencs Inc. closed the transaction. The company issued CAD 3,000,000 aggregate principal amount of convertible debenture units for gross proceeds of CAD 2,700,000 in the transaction. Annonce • Aug 27
MYND Lifesciencs Inc. announced that it expects to receive CAD 3 million in funding MYND Lifesciencs Inc. announced that it has entered into a binding term sheet with a new strategic institutional investor for non-brokered private placement of debenture units for gross proceeds of CAD 3,000,000 on August 26, 2021. Each unit consists of CAD 1,000 par value of senior unsecured convertible debentures and 1,000 common share purchase warrants exercisable at CAD 1 per share for a period of 24 months from from the date of issuance. The debentures will be issued at a discount equal to 10% of the aggregate principal amount of debentures. The debentures will mature in 24 months of issuance. The debentures bear interest at a rate of 5% per annum, payable on the maturity date. The debentures are convertible into common shares at a price of CAD 0.75 per share. The company may force the conversion of all of the principal amount of the then outstanding debentures at the conversion price prior to the maturity, if the daily volume weighted average trading price is greater than a 50% premium to the conversion price for any 15 trading days during any period of 30 consecutive trading days. All securities issued are subject to a statutory hold period of four months and one day from issuance. The transaction is is subject to final acceptance by the Canadian Stock Exchange. Annonce • Jun 24
MYND Life Sciences Expands Intellectual Portfolio to Target Alzheimer's disease MYND Life Sciences Inc. announce that it has expanded its intellectual property portfolio for diseases of the central nervous system, including methods for treating or delaying Alzheimer's disease and related forms of dementia. The company's research team has shown significant progress in advancing its proprietary technologies that may impact central nervous system diseases including Alzheimer's disease and other forms of dementia by possibly delaying or in some instances potentially reversing the progress of these forms of diseases. The company has bolstered its novel drug discovery pipeline by commencing preclinical testing of chemical subclasses of psilocybin analogues with the goal to enter clinical trials to treat Alzheimer's disease and other related forms of dementia. Annonce • Jun 11
MYND Lifesciencs Inc. Announces Patent Applications for Depression and Neuropsychiatric Disorder Drugs MYND Life Sciences Inc. announced it has filed additional provisional patents that utilize various psilocybin analogs to target clinical depression. Major Depressive Disorder (MDD) is a common and severe illness that is estimated to affect approximately 264 million people globally. MYND has two drugs in the development pipeline; MYND-604 and MYND-778. MYND-604 is the lead candidate being developed as a novel oral dosage to treat MDD and brings much needed innovation to the Selective Serotonin Reuptake Inhibitor (SSRI) market. Patent Filing Highlights: The patent application targets regulation of inflammation and immune responses by modulating the Human Mycogene by turning a pro-inflammatory state into an anti-inflammatory state. The patent application addresses methods of inhibiting neuroinflammation to potentially treat a wide variety of neuropsychiatric disorders, including but not limited to; Major Depressive Disorder, schizophrenia, anxiety, bipolar disorder, obsessive-compulsive disorder (OCD), and posttraumatic stress disorder (PTSD), among others. The patent application strengthens MYND's IP Portfolio and establishes the foundation of the Company's novel drug development platform as it moves towards commercialization. The patent covers a wide variety of molecules including psychedelics such as all analogs of psilocybin, LSD, mescaline and DMT. The MYND-604 provisional patent helps advance the Company's drug development pipeline. The Company anticipates the commencement of clinical trials in Fourth Quarter of 2021, or early 2022. Annonce • Jun 02
MYND Life Sciences Announces Depression Biomarker Diagnostic Program MYND Lifesciencs Inc. announced the expansion of the intellectual property portfolio to more precisely diagnose and then monitor the treatment regime for patients with Major Depressive Disorder (MDD) and other diseases of inflammation. Stable Isotope Standards and Capture by Anti-Peptide Antibodies (SISCAPA) is a patented sample preparation methods platform for diagnostics that improves the performance of mass spectrometry (MS) for measurement of pre-selected protein targets. It is a method that will assist the research team with the proprietary panel of biomarkers aimed at diagnosing and monitoring Major Depressive Disorder. MYND aims to commercialize this panel by the first quarter of 2022. MYND continues to execute upon its multi-phase drug development strategy to create a novel drug discovery platform and research on the potential efficacy of psychedelic molecules to address unmet mental health needs; dosing control for enhanced drug delivery; and a potential novel diagnostic and treatment regimen. 