Board Change • Aug 09
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. CEO & Director Rob Smith is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Jul 16
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. CEO & Director Rob Smith is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jun 04
Second quarter 2024 earnings released: US$0.03 loss per share (vs US$0.086 loss in 2Q 2023) Second quarter 2024 results: US$0.03 loss per share (improved from US$0.086 loss in 2Q 2023). Revenue: US$55.2k (up 2.9% from 2Q 2023). Net loss: US$120.2k (loss narrowed 55% from 2Q 2023). New Risk • Apr 09
New major risk - Revenue and earnings growth Earnings have declined by 3.3% 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 Less than 1 year of cash runway based on free cash flow trend (-US$364k free cash flow). Shares are highly illiquid. Earnings have declined by 3.3% per year over the past 5 years. Revenue is less than US$1m (US$145k revenue). Market cap is less than US$10m (CA$732.1k market cap, or US$539.0k). Minor Risk Shareholders have been diluted in the past year (19% increase in shares outstanding). Reported Earnings • Apr 02
Full year 2023 earnings released: US$0.05 loss per share (vs US$0.054 loss in FY 2022) Full year 2023 results: US$0.05 loss per share (improved from US$0.054 loss in FY 2022). Revenue: US$165.1k (up 53% from FY 2022). Net loss: US$1.65m (loss narrowed 1.0% from FY 2022). New Risk • Mar 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. 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 Shares are highly illiquid. Revenue is less than US$1m (US$181k revenue). Market cap is less than US$10m (CA$366.1k market cap, or US$270.2k). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Shareholders have been diluted in the past year (19% increase in shares outstanding). Annuncio • Jan 26
TUT Fitness Group Inc. Announces Resignation of Praveen Varshney as Director TUT Fitness Group Inc. announced that it has accepted the resignation of Praveen Varshney as a director of the Company. TUT Fitness would like to thank Mr. Varshney for his guidance and contributions to the Company in its formative stages and wishes him the best in his future endeavors. Annuncio • Jan 25
TUT Fitness Group Inc Announces CFO Changes TUT Fitness Group Inc. announced that it has appointed David Croom as Chief Financial Officer ("CFO") of the Company. David Croom is a seasoned CFO with over 25 years of experience at both public and private companies including Cannex Capital, Cray Supercomputers, Microsoft, Amazon and Chevron where he held senior roles in capital markets, M&A, tax and finance, and comptroller functions. He is an experienced financial executive who has led revenue, profitability and growth initiatives to deliver shareholder value. Board Change • Sep 15
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. CEO & Director Rob Smith is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. New Risk • Sep 01
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: -US$569k 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 (-US$569k free cash flow). Shares are highly illiquid. Revenue is less than US$1m (US$181k revenue). Market cap is less than US$10m (CA$1.10m market cap, or US$812.6k). Minor Risk Shareholders have been diluted in the past year (19% increase in shares outstanding). Reported Earnings • Sep 01
Third quarter 2023 earnings released: US$0.01 loss per share (vs US$0.01 loss in 3Q 2022) Third quarter 2023 results: US$0.01 loss per share (in line with 3Q 2022). Revenue: US$16.8k (up 94% from 3Q 2022). Net loss: US$169.2k (loss narrowed 45% from 3Q 2022). New Risk • Jul 24
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 19% 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 Shares are highly illiquid. Revenue is less than US$1m (US$173k revenue). Market cap is less than US$10m (CA$1.46m market cap, or US$1.11m). Minor Risk Shareholders have been diluted in the past year (19% increase in shares outstanding). Annuncio • Jul 01
TUT Fitness Group Inc. Appoints Anthony Dutton to Its Board of Directors TUT Fitness Group Inc. announced that the appointment of Anthony Dutton to its board of directors. Anthony has more than two decades of senior leadership in public and private companies with expertise in growth management, strategic planning, financing, M&A, operational restructuring and corporate governance. He has broad industry experience including transportation, advanced manufacturing and most recently, cannabis. He is currently a partner at HighMont Advisors Inc. advising early stage and high growth companies. He was previously CEO, co-Founder and a director of Cannex Capital Group Inc, a pioneering US cannabis company which merged with 4Front Ventures Inc. He is a board member of Flair Airlines, Sanatana Gold and BioVaxys Technologies . He has a BA (Econ) from the University of British Columbia, a Masters in Architecture from Dalhousie University and an MBA from the Cranfield School of Management in the UK. Annuncio • Jun 16
TUT Fitness Group Inc., Annual General Meeting, Aug 24, 2023 TUT Fitness Group Inc., Annual General Meeting, Aug 24, 2023. Annuncio • Jun 08
TUT Fitness Group Inc. announced that it expects to receive CAD 1 million in funding TUT Fitness Group Inc. announced a non-brokered private placement of up to 22,222,222 units at a price of CAD 0.045 per unit for gross proceeds of up to CAD 1,000,000 on June 7, 2023. Each unit is comprised of one common share and one-half of common share purchase warrant having an exercise price of CAD 0.08 per warrant and a term of 24 months from the date of closing of the transaction. As part of this transaction, company may enter into finder’s fee agreements with certain finders, paying to such finders up to 7% of the portion of the private placement raised via finders in cash and warrants. The private placement is subject to TSX Venture Exchange approval and all securities issued will be subject to a four month hold period. Reported Earnings • Jun 04
Second quarter 2023 earnings released: US$0.01 loss per share (vs US$0.012 loss in 2Q 2022) Second quarter 2023 results: US$0.01 loss per share (improved from US$0.012 loss in 2Q 2022). Revenue: US$53.7k (up 115% from 2Q 2022). Net loss: US$265.5k (loss narrowed 27% from 2Q 2022). Reported Earnings • Mar 30
Full year 2022 earnings released: US$0.054 loss per share (vs US$0.12 loss in FY 2021) Full year 2022 results: US$0.054 loss per share (improved from US$0.12 loss in FY 2021). Net loss: US$1.67m (loss narrowed 22% from FY 2021). Annuncio • Nov 17
TUT Fitness Group Inc. Announces Launch of TUT Infinite 8 TUT Fitness Group Inc. announced the launch of the TUT Infinite 8; a universal functional strength training program using the TUT Trainer micro gym, and TUT Rower and available as a free download to TUT Fitness customers. The TUT Infinite 8 training program features 8 powerful game-changing exercises that will bullet proof core, significantly boost your functional strength and body's ability to perform complex and ballistic power movements, while maximally recruiting both fast twitch and slow twitch muscle fibers. Performed just two to three times per week in 30 minute sessions the Infinite 8 can dramatically increase your efficiency in athletic performance. Utilizing the TUT Trainer 2.0 micro gym and TUT's proprietary stackable resistance band technology the TUT Infinite 8 program provides essential and natural extension to what the body needs to maintain and build functional strength, power and healthier movement. All key to restoring balance and avoiding injury. The Company is also announced it has signed New York based elite trainer Blake Holman to its TUT Athlete program. Blake Holman has been featured in a variety of fitness publications including bodybuilding.com. Blake brings a wealth of experience and social media reach as a new TUT Athlete partner. TUT Trainer Product Specs: High performance micro gym (11.6 lbs/5kg); Quick & easy set up 15 minutes; No power required; Footprint (<2 sq. ft.); Portability - Train Anywhere; Complements any gym setting (commercial /at home); Resistance load up to 200 lbs (90 kg); Less than ½ the price of leading home gym brands; and TUT Training App (300 + exercises & OnDemand Workout Classes). Annuncio • Nov 09
TUT Fitness Group Inc. Launches Second Generation TUT TrainerTM 2.0 and TUT RowerTM 2.0 TUT Fitness Group Inc. announced that it is now shipping the second generation, TUT TrainerTM 2.0 and TUT RowerTM, as it continues deliver on its mission to make functional fitness training more affordable and available to everyone. TUT 2.0 features an internationally-patented sleek design, a full hardware revision and key upgrades, with a new graphite finish. TUT's industry-first patented resistance band technology (stackable TUT PlatesTM) is the backbone of the TUT TrainerTM micro gym; a high performance and convenient alternative to bulky exercise machines and free weights. The TUT TrainerTM provides progressive resistance to any movement and constant and incremental Time Under Tension (TUT) throughout the complete range of motion, while supporting form. Delivering all-in-one functional strength, prehab/rehab and cardio training and more than 300 exercises, the TUT TrainerTM replicates everything can do in the gym in less than 2 square feet of space, while weighing only 11.6 lbs. Leveraging TUT's resistance band technology the TUT RowerTM is great for demanding cardio yoga and pilates style resistance training, and weighs only 21 lbs. The company technology allows the customer to add progressive resistance to any movement and customize their workout in a way that simply isn't possible with free weights or other, bulkier, more expensive machines and connected fitness devices. The company now seeing top celebrity trainers, like Gunnar Petersen, and elite athletes and performance coaches integrate the TUT TrainerTM micro gym into their training precisely because of its versatile and intuitive design. Annuncio • Sep 16
TUT Fitness Group Inc. Secures 18Th Patent in Its Mission to Be the Leading Provider of High-Performance and Affordable Micro Gyms TUT Fitness Group Inc. announced that it has added an 18th patent to its growing worldwide IP portfolio, as it continues to deliver on its mission to make functional fitness training available for everyone. The stackable TUT PlatesTM are a safer and more convenient alternative to bulky and expensive gym equipment with heavy metal plates. Unlike free weights, TUT's stackable resistance bands maximize the amount of work being done and provide constant and incremental tension known as Time Under Tension (TUT) throughout the complete range of motion. The TUT TrainerTM micro gym uses patented resistance band technology to deliver a high-performance workout experience; improving form and targeting every muscle group without adding pressure to joints or tendons. The stackable TUT PlatesTM are a safer and more convenient alternative to bulky and expensive gym equipment with heavy metal plates. Unlike free weights, TUT's stackable resistance bands maximize the amount of work being done and provide constant and incremental tension known as Time Under Tension (TUT) throughout the complete range of motion. The TUT TrainerTMcore product features include: Lightweight: 11.6 lb/5kg TUT Trainer & 21 lbs. TUT Rower, Portable and easy to set up - it takes just 15 minutes, Compact, small footprint, less than 2 sq. ft., Complements any gym setting (commercial or at-home), Less than half the price of leading home gym brands, TUT PlatesTM replace 200 pounds of metal weights with just 48 ounces/1,360 g of calibrated resistance bands (2lb, 5lb, 10lb, 20lb & 40lb increments), TUT Training App features over 250 exercises and OnDemand Workout Classes. Reported Earnings • Sep 02
Third quarter 2022 earnings released Third quarter 2022 results: US$0.01 loss per share. Net loss: US$306.2k (flat on 3Q 2021). Reported Earnings • Jun 02
Second quarter 2022 earnings released Second quarter 2022 results: US$0.012 loss per share. Net loss: US$361.2k (flat on 2Q 2021). Annuncio • Nov 24
TUT Fitness Group Now Offers PayPlan by RBC™ At Its Canadian E-Commerce Website TUT Fitness GroupInc. announced that it is now offering PayPlan by RBC™, a pay-over-time option that allows customers to make purchases through equal monthly payments. TUT Fitness is offering the payment option at its Canadian e-commerce website. TUT Fitness customers can purchase the internationally-patented TUT Trainer™ or TUT Rower™ by leveraging a straightforward, transparent purchase loan. PayPlan by RBC™ is available for purchases larger than $300 and is designed to make payments more manageable for customers by helping them pay in a way that fits their budgets. The PayPlan by RBC™ offer appears as a link at the checkout page, and there is no impact to customers' credit score when customers check their eligibility, nor any obligation to buy. In addition, while many fitness equipment makers are struggling with supply chain issues, TUT Fitness Group has products stocked in inventory in both its USA and Canadian warehouses which are available for immediate shipping in plenty of time for holiday delivery. 