Annonce • Nov 17
TSX Venture Exchange Provides Notice to Delist the Common Shares of Good Natured Products and All Common Shares to be Delisted from the NEX board of the TSX Venture Exchange On November 15, 2024, Good Natured Products Inc. closed the previously disclosed transaction pursuant to which HUK 149 Ltd. (the purchaser), a private United Kingdom limited company, an affiliate of United Kingdom-based turnaround investor Hilco Capital, acquired the company and its subsidiaries, other than certain excluded assets and liabilities which were transferred directly or indirectly to 1508538 B.C. Ltd. (the residual company), pursuant to a reverse vesting order granted under the Companies' Creditors Arrangement Act (the CCAA) by the Supreme Court of British Columbia. In addition, the TSX Venture Exchange has provided a notice to delist the common shares of the company to Alvarez & Marsal Canada Inc. (the monitor) and all common shares of the company will be delisted from the NEX board of the TSX Venture Exchange after Nov. 22, 2024, without further notice. Annonce • Nov 03
Good Natured Products's Common Shares Expects to Delist from the NEX Board of the TSX Venture Exchange The Supreme Court of British Columbia has approved, pursuant to an approval and reverse vesting order granted under the Companies' Creditors Arrangement Act (CCAA), the previously announced transaction whereby HUK 149 Ltd., a private United Kingdom limited company (Hilco), an affiliate of United Kingdom-based turnaround investor Hilco Capital, will acquire Good Natured Products Inc. and its subsidiaries (other than certain excluded assets and liabilities to be transferred directly or indirectly to a newly incorporated entity) pursuant to the terms of a subscription agreement entered into between the company and Hilco. The company will seek recognition of the court approval in the company's Chapter 15 proceedings in the United States Court on or about Nov. 8, 2024. Subject to receipt of approval of the United States Court, among other closing conditions set out in the agreement being satisfied or waived, the transaction is anticipated to close on or about Nov. 12, 2024. Upon the completion of the transaction, the business and operations of the company are expected to continue in ordinary course. Upon the closing of the transaction, all current directors of the board of directors of the company, other than Paul Antoniadis, will resign from their positions. Additionally, on or before the closing of the transaction, the common shares of the company are expected to be suspended from the NEX Board of the TSX Venture Exchange and delisted within 30 days. Trading in the common shares of the company has been halted on the NEX Board of the TSX Venture Exchange and will remain halted as confirmed by the TSX Venture Exchange. Reported Earnings • Aug 30
Second quarter 2024 earnings released: CA$0.003 loss per share (vs CA$0.015 loss in 2Q 2023) Second quarter 2024 results: CA$0.003 loss per share (improved from CA$0.015 loss in 2Q 2023). Revenue: CA$16.0m (down 13% from 2Q 2023). Net loss: CA$966.0k (loss narrowed 73% from 2Q 2023). New Risk • May 30
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 51% 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 Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 31% per year over the past 5 years. Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Market cap is less than US$10m (€7.39m market cap, or US$7.99m). Minor Risk Currently unprofitable and not forecast to become profitable next year (CA$9.3m net loss next year). Reported Earnings • May 02
Full year 2023 earnings released: CA$0.059 loss per share (vs CA$0.051 loss in FY 2022) Full year 2023 results: CA$0.059 loss per share (further deteriorated from CA$0.051 loss in FY 2022). Revenue: CA$76.6m (down 24% from FY 2022). Net loss: CA$15.5m (loss widened 34% from FY 2022). Annonce • Apr 17
Good Natured Products Inc. Unveils Advanced Electrostatic Protection for Tech and Pharma Packaging Good Natured Products Inc. announced advancements in the realm of bio-based plastic extrusion, specifically for value-added material properties and services that are critically important in the electronics, automotive and pharmaceutical sectors. The Company's specialty coating and blending capabilities, honed through 20+ years of experience formulating and extruded bioplastic materials, positions it uniquely to set new benchmarks for advanced, high value product options in its Industrial business group. Customizable Solutions for Electronics. In the electronics industry, the prevention of electrostatic discharge is crucial. good natured®? now offers the ability for enhanced electrostatic discharge ("ESD") on bio-based rigid extruded sheets. The Company offers one of the highest ranges of ESD protection in the industry with surface resistivity of 107 to 1010 ohm per square for the containment, transport and long-term storage of microchips, printed circuit boards and other ESD-sensitive components. Using extruded sheets with enhanced ESD ensures the protection of sensitive electronic components from static electricity, which can cause significant damage and data loss. This high value performance not only enhances the reliability of electronic products but also extends their lifespan, offering a competitive technological edge in the market beyond the sustainability benefits of the bio-based rigid rollstock itself. Innovative Applications in Pharmaceuticals. For the pharmaceutical sector, extruded sheets play a vital role in creating secure and sterile packaging. ESD protection is instrumental in preventing static buildup, ensuring that pharmaceutical products are not compromised during manufacturing and packaging processes. good natured®? can supply certified bio-based rigid extruded Sheet that complies with FDA standards for the packaging of sensitive medical components such as catheters and syringes and is compatible with form, fill, and seal processes, aligning with stringent industry regulations. Advanced Extrusion Techniques and Renewable Materials. The Company's extrusion processes cater to a broad range of bio-based materials and bio-recycled blends, reflecting the Company's commitment to reducing environmental impact by sourcing and commercializing the latest viable bio-based options on the market that also remove chemicals of concern such as BPAs, PFAS and phthalates. With highly customizable capabilities, good natured®? is adaptable to a variety of specialized requirements across industries and equipment. Whether it's creating precise widths and thicknesses or incorporating specialized coatings, the Company's commitment to customization and service is designed to make it as easy as possible for businesses to reduce their reliance on fossil fuels and non-renewable resources. The integration of post-consumer recycled plastics into good natured®? Bio-PET material blends underscores the Company's dedication to the principles of a circular economy and the latest in certain regulatory requirements seeking to promote curbside recyclability and a minimum percentage of post-consumer recycled content. With dedicated extrusion facilities in North America, the Company prioritizes US and Canada manufacturing, both to increase local job opportunities and to manage carbon footprints related to overseas shipping. This strategic approach enhances the ability for rapid turnaround times, order flexibility, and helps to minimize transportation emissions, aligning with core values to be purposeful to maximize positive environmental and social impact. Annonce • Feb 15
good natured Products Inc. announced that it expects to receive CAD 2 million in funding good natured Products Inc. announced a non-brokered private placement financing to issue 33,333,333 units at an issue price of CAD 0.06 per Unit for the gross proceeds of CAD 1,999,999.98 on February 14, 2024. Each Unit will consist of one common share and one common share purchase warrant. Each Warrant will entitle the holder thereof to acquire one common share at an exercise price per Warrant Share of CAD 0.08 for a period of 30 months from the closing of the Offering. In connection with the Offering, the Company may pay certain finders a fee comprised of cash, finder's warrants, or both, based on the proceeds raised from the sale of securities to purchasers introduced to the Company by such finders. All securities to be issued pursuant to the above referenced Offering will be subject to a statutory four month hold period. The Offering is subject to a number of conditions, including without limitation, approval of the TSX Venture Exchange. n order to accommodate potential demand from existing and/or new shareholders as outlined below, the Offering is also subject to an over-allotment option, allowing the Company to issue an additional 50,000,000 Units for gross proceeds of CAD 3,000,000. Annonce • Jan 05
good natured Products Inc. Appoints Mark Munford to the Board of Directors, Effective January 8, 2024 good natured Products Inc. announced the appointment of Mark Munford to the its board of directors, effective January 8, 2024. Having served as President of Natural Chemistry for over 30 years and CEO of NC Brands from 2015, Mr. Munford is known for building and expanding multiple natural product brands in both Canada and the United States. Using a combined approach of developing and commercializing unique and patentable green chemistry technology, along with a robust acquisition strategy to grow quickly to profitability, NC Brands was ultimately acquired in 2019 by leading North American chemical manufacturer, KIK Custom Products Inc. Mr. Munford has demonstrated his strong support of the Company's long term strategic goals as the lead investor in private placements announced in May 2022 and June 2023. Reported Earnings • Nov 28
Third quarter 2023 earnings released: CA$0.012 loss per share (vs CA$0.009 loss in 3Q 2022) Third quarter 2023 results: CA$0.012 loss per share (further deteriorated from CA$0.009 loss in 3Q 2022). Revenue: CA$19.4m (down 26% from 3Q 2022). Net loss: CA$3.24m (loss widened 57% from 3Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 3.3% growth forecast for the Chemicals industry in Germany. Annonce • Nov 17
good natured Products Inc. to Report Q3, 2023 Results on Nov 28, 2023 good natured Products Inc. announced that they will report Q3, 2023 results on Nov 28, 2023 Reported Earnings • Aug 30
Second quarter 2023 earnings released: CA$0.015 loss per share (vs CA$0.013 loss in 2Q 2022) Second quarter 2023 results: CA$0.015 loss per share (further deteriorated from CA$0.013 loss in 2Q 2022). Revenue: CA$18.3m (down 28% from 2Q 2022). Net loss: CA$3.58m (loss widened 19% from 2Q 2022). Revenue is forecast to grow 3.4% p.a. on average during the next 2 years, compared to a 2.2% growth forecast for the Chemicals industry in Germany. Annonce • Aug 18
good natured Products Inc. to Report Q2, 2023 Results on Aug 29, 2023 good natured Products Inc. announced that they will report Q2, 2023 results on Aug 29, 2023 Annonce • Jul 15
good natured Products Inc. Appoints Karl Sanft to its Board of Directors good natured Products Inc. announced the appointment of Karl Sanft to the company's board of directors, effective July 14, 2023. Karl Sanft to view an enhanced version of this graphic. Karl currently serves as President & CEO of 24 Hour Fitness having originally joined in April 2019 as COO. He is known for his track record of delivering significant business growth, leadership and expertise in sales, operational effectiveness and P&L management. Starting his career at K-Mart and Office Depot, Mr. Sanft later joined Best Buy and rose to Senior Vice President of U.S. Retail Operations over his 20-year tenure with the company. He currently resides in California and is a graduate from Arizona State University with a degree in Business Administration &Management. Annonce • Jun 22
good natured Products Inc. announced that it has received CAD 5 million in funding good natured Products Inc. announced a private placement of 35,714,285 units at a price of CAD 0.14 per unit for aggregate gross proceeds of approximately CAD 5,000,000 on June 21, 2023. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share at an exercise price per warrant share of CAD 0.19 for a period of 30 months from the closing of the offering. Notably, an existing strategic investor Mark Munford subscribed as the lead order in the offering, for total of 21,428,570 units and total gross proceeds of CAD 2,999,999.80, each warrant is exercisable until December 21, 2025. Insiders of the company prior to closing the offering, subscribed for a total of 779,000 Units for total gross proceeds of CAD 109,060 under the offering. The agents received a cash commission of CAD 210,525 and 1,503,750 compensation options. Each compensation option shall entitle the holder thereof to acquire one common share of the company at the issue price for a period of 30 months from the date hereof. The company has also paid the agents a corporate finance fee of CAD 79,000, plus applicable taxes, and issued to the Agents 567,679 corporate finance fee compensation options, to purchase an equal number of common shares at the issue price for a period of 30 months from the date hereof. The offering remains subject to a number of customary conditions, including the final approval of the TSX Venture Exchange. New Risk • Jun 16
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 German stocks, typically moving 11% 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 Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks Less than 1 year of cash runway based on current free cash flow (-CA$12m). Currently unprofitable and not forecast to become profitable next year (CA$7.9m net loss next year). Shareholders have been diluted in the past year (8.3% increase in shares outstanding). Market cap is less than US$100m (€22.5m market cap, or US$24.7m). Board Change • Jun 15
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Joel Marsh was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • Jun 07
good natured Products Inc. Announces Executive Changes good natured Products Inc. announced the appointment of Tami Kozikowski, CPA, to the good natured® board of directors and as Chair of the Audit Committee, effective June 5, 2023. Ms. Kozikowski began her career as a certified public accountant and qualifies as a financial expert under SEC and New York Stock Exchange requirements. She brings significant public company experience with profit and loss responsibilities for businesses ranging from $60 million to $5 billion, as well as extensive real estate experience. From 2018 to present, Ms. Kozikowski has been with The Waters Senior Living Group, and has held the role of Chief Executive Officer and President since early 2020. She previously served as Executive Vice President, Real Estate and Development & LifeSpa at Lifetime Fitness from 2012 to 2016. From 2009 to 2012, Ms. Kozikowski was EVP & Chief Development Officer for Advance Auto Parts, a NYSE listed company and automotive aftermarket parts provider that serves both professional and consumers markets across nearly 5,000 retail locations. Ms. Kozikowski holds an MBA in Finance and Marketing from the UCLA Anderson School of Business. She serves on two non-profit boards and resides in Wayzata, Minnesota. Concurrent with this announcement, the Company would like to announce that Mr. Jim Zadra is stepping down from the Company's board of directors, effective June 5, 2023. Reported Earnings • Apr 28
Full year 2022 earnings released: CA$0.051 loss per share (vs CA$0.06 loss in FY 2021) Full year 2022 results: CA$0.051 loss per share (improved from CA$0.06 loss in FY 2021). Revenue: CA$101.0m (up 65% from FY 2021). Net loss: CA$11.6m (loss narrowed 8.8% from FY 2021). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 1.7% growth forecast for the Chemicals industry in Germany. Annonce • Feb 09
good natured Products Inc. Announces Its Distribution Through Sustainable Island Products good natured Products Inc. announced its distribution through Sustainable Island Products, the primary distributor of compostable packaging products in Hawaii. Plant-based, BPI-certified compostable1 products from good natured® are up to 99% plant-based and comply with single use packaging regulations that started going into effect across many counties in Hawaii in 2022. Having readily available choices for local businesses is crucial as regulations have caused a predictable rise in demand for viable alternatives to fossil-fuel based packaging. The relationship between Sustainable Island Products and good natured® is a strategic growth opportunity for both companies to expand their customer base in Hawaii as businesses are needing to comply with recent regulations. Bringing on good natured® BPI-certified compostable containers opens a whole new range of customer profiles for Sustainable Island Products-especially within the grocery segment. Sustainable Island Products currently distributes to resorts, hotels, and grocers in Hawaii. Annonce • Feb 01
good natured Products Inc. Provides Revenue Guidance for the Fourth Quarter and Full Year Ended December 31, 2022 good natured Products Inc. provided revenue guidance for the fourth quarter and full year ended December 31, 2022. Revenue for fourth quarter 2022 is anticipated to be $20.9 million to $22.9 million, which is flat to a decrease of 8.6% compared to $22.9 million for the three months ended December 31, 2021.Revenue for fiscal year 2022 is anticipated to be $98.6 million to $100.6 million, an increase of approximately 61% to 65%, compared to $61.1 million for the year ended December 31, 2021. Annonce • Jan 10
good Natured Products Inc. Announces Appointment of Kerry Biggs as Chief Financial Officer good natured Products Inc. announced the appointment of Kerry Biggs to the position of Chief Financial Officer, effective January 9, 2023. Kerry's appointment is the culmination of an extensive search process initiated to address the planned retirement of the Company's current CFO, Kevin Leong, who has been part of the good natured® team since 2017. Kevin will be supporting an orderly transition of responsibilities in the role of Vice President, Finance and Accounting for the remainder of the current fiscal year. With over 25 years of finance and business experience, Kerry has held a variety of senior roles in both early-stage and established public companies across diverse industries from transportation to apparel. He has held two CFO positions with companies listed on both the Toronto Venture Exchange and Canadian Securities Exchange and was previously Vice President, Treasurer at lululemon athletica with responsibility for capital markets, liquidity, treasury, insurance and risk activities for the NASDAQ-listed company. Kerry has also served as Vice President, Finance of GCT Global Container Terminals Inc. and was responsible for all finance related activities for GCT's container terminal operations. He previously held senior roles at Finning International Inc. with responsibilities for corporate finance, financial risk management, financial planning and analysis, cash and banking, and corporate tax initiatives for the company's global operations. Reported Earnings • Nov 23
Third quarter 2022 earnings released: CA$0.009 loss per share (vs CA$0.013 loss in 3Q 2021) Third quarter 2022 results: CA$0.009 loss per share (improved from CA$0.013 loss in 3Q 2021). Revenue: CA$26.2m (up 45% from 3Q 2021). Net loss: CA$2.07m (loss narrowed 29% from 3Q 2021). Revenue is forecast to grow 17% p.a. on average during the next 2 years, while revenues in the Chemicals industry in Germany are expected to remain flat. Reported Earnings • Aug 31
Second quarter 2022 earnings released: CA$0.013 loss per share (vs CA$0.017 loss in 2Q 2021) Second quarter 2022 results: CA$0.013 loss per share (up from CA$0.017 loss in 2Q 2021). Revenue: CA$25.5m (up 107% from 2Q 2021). Net loss: CA$3.01m (loss narrowed 19% from 2Q 2021). Over the next year, revenue is forecast to grow 26%, compared to a 2.3% growth forecast for the Chemicals industry in Germany. Breakeven Date Change • May 06
No longer forecast to breakeven The 6 analysts covering good natured Products no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of CA$2.31m in 2023. New consensus forecast suggests the company will make a loss of CA$1.70m in 2023. Breakeven Date Change • May 04
Forecast to breakeven in 2023 The 6 analysts covering good natured Products expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 81% to 2022. The company is expected to make a profit of CA$896.3k in 2023. Average annual earnings growth of 123% is required to achieve expected profit on schedule.