Annuncio • 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. Annuncio • 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 • Aug 28
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 57% 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 (61% average weekly change). Earnings have declined by 31% per year over the past 5 years. Shareholders have been substantially diluted in the past year (57% increase in shares outstanding). Market cap is less than US$10m (CA$1.90m market cap, or US$1.41m). Reported Earnings • May 30
First quarter 2024 earnings released: CA$0.018 loss per share (vs CA$0.01 loss in 1Q 2023) First quarter 2024 results: CA$0.018 loss per share (further deteriorated from CA$0.01 loss in 1Q 2023). Revenue: CA$14.1m (down 31% from 1Q 2023). Net loss: CA$5.00m (loss widened 99% from 1Q 2023). New Risk • May 29
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 (23% 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 (CA$11.0m 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 01
Full year 2023 earnings: EPS misses analyst expectations 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). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 20%. Price Target Changed • Apr 28
Price target increased by 9.1% to CA$0.20 Up from CA$0.18, the current price target is provided by 1 analyst. New target price is 264% above last closing price of CA$0.055. Stock is down 78% over the past year. The company is forecast to post a net loss per share of CA$0.05 next year compared to a net loss per share of CA$0.051 last year. Annuncio • 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. Annuncio • 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. Annuncio • 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. Major Estimate Revision • Dec 04
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CA$79.4m to CA$76.4m. Losses expected to increase from CA$0.045 per share to CA$0.05. Chemicals industry in Canada expected to see average net income decline 14% next year. Consensus price target of CA$0.18 unchanged from last update. Share price was steady at CA$0.08 over the past week. Reported Earnings • Nov 28
Third quarter 2023 earnings: EPS in line with expectations, revenues disappoint 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, while revenues in the Chemicals industry in Canada are expected to remain flat. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 52% per year, which means it is significantly lagging earnings. Annuncio • 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 31
Second quarter 2023 earnings: EPS and revenues miss analyst expectations 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 missed analyst estimates by 4.8%. Earnings per share (EPS) also missed analyst estimates by 100%. Revenue is forecast to grow 3.4% p.a. on average during the next 2 years, while revenues in the Chemicals industry in Canada are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. New Risk • Aug 30
New major risk - Revenue and earnings growth Earnings have declined by 37% 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 Risk Earnings have declined by 37% per year over the past 5 years. Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$7.6m net loss next year). Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (CA$25.1m market cap, or US$18.5m). Annuncio • 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 Annuncio • 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. New Risk • Jul 07
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 12% 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: Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$8.6m net loss next year). Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (25% increase in shares outstanding). Market cap is less than US$100m (CA$36.2m market cap, or US$27.3m). Price Target Changed • Jul 06
Price target decreased by 27% to CA$0.20 Down from CA$0.28, the current price target is an average from 3 analysts. New target price is 74% above last closing price of CA$0.12. Stock is down 72% over the past year. The company is forecast to post a net loss per share of CA$0.04 next year compared to a net loss per share of CA$0.051 last year. Major Estimate Revision • Jul 01
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CA$89.8m to CA$87.0m. Losses expected to increase from CA$0.035 per share to CA$0.04. Chemicals industry in Canada expected to see average net income growth of 11% next year. Consensus price target down from CA$0.31 to CA$0.30. Share price fell 19% to CA$0.10 over the past week. Annuncio • 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. 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. Annuncio • 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. Major Estimate Revision • May 30
Consensus revenue estimates fall by 13% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CA$105.0m to CA$91.2m. Forecast losses increased from -CA$0.02 to -CA$0.035 per share. Chemicals industry in Canada expected to see average net income growth of 13% next year. Consensus price target down from CA$0.39 to CA$0.29. Share price fell 15% to CA$0.17 over the past week. Reported Earnings • Apr 29
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind 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 exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 25%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 4.5% decline forecast for the Chemicals industry in Canada. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Annuncio • 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. Annuncio • 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. Annuncio • 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. Annuncio • Dec 14
good natured Products Inc. Appoints Keith Spencer to Board of Directors good natured Products Inc. announce the appointment of Keith Spencer to the good natured(R) board of directors, effective December 13, 2022. Major Estimate Revision • Nov 29
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 expected loss increased from -CA$0.03 to -CA$0.04 per share. Revenue forecast unchanged at CA$104.5m. Chemicals industry in Canada expected to see average net income growth of 14% next year. Consensus price target down from CA$0.93 to CA$0.74. Share price rose 6.1% to CA$0.26 over the past week. Reported Earnings • Nov 22
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, compared to a 3.2% decline forecast for the Chemicals industry in Canada. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Annuncio • Nov 16
good natured Products Inc. to Report Q3, 2022 Results on Nov 22, 2022 good natured Products Inc. announced that they will report Q3, 2022 results Pre-Market on Nov 22, 2022 Price Target Changed • Nov 16
Price target decreased to CA$0.93 Down from CA$1.27, the current price target is an average from 5 analysts. New target price is 272% above last closing price of CA$0.25. Stock is down 71% over the past year. The company is forecast to post a net loss per share of CA$0.03 next year compared to a net loss per share of CA$0.06 last year. Annuncio • Oct 28
Good Natured Products Inc. Provides Revenue Guidance for the Three Months Ended September 30, 2022 good natured Products Inc. announced revenue guidance for the three months ended September 30, 2022. For the period Preliminary revenue for Third Quarter 2022 is anticipated to be $25 million to $27 million, an increase of between 40% to 50% compared to $18 million for the three months ended September 30, 2021. Major Estimate Revision • Sep 05
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 expected loss increased from -CA$0.02 to -CA$0.03 per share. Revenue forecast unchanged at CA$105.4m. Chemicals industry in Canada expected to see average net income decline 18% next year. Consensus price target of CA$1.27 unchanged from last update. Share price was steady at CA$0.39 over the past week. Reported Earnings • Aug 30
Second quarter 2022 earnings: EPS misses analyst expectations 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). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 26%, compared to a 10% growth forecast for the Chemicals industry in Canada. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 37% per year, which means it is well ahead of earnings. Annuncio • Aug 24
good natured Products Inc. to Report Q2, 2022 Results on Aug 30, 2022 good natured Products Inc. announced that they will report Q2, 2022 results Pre-Market on Aug 30, 2022 Annuncio • Jul 20
Good Natured Products Inc. Provides Earnings Guidance for the Second Quarter Ended June 30, 2022 good natured Products Inc. provided earnings guidance for the second quarter ended June 30, 2022. For the quarter, the company's Preliminary revenue for Second Quarter 2022 is anticipated at $24.0 million to $26.0 million, an increase of approximately 95% to 110%, compared to $12.4 million for the three months ended June 30, 2021. The growth in revenue in Second Quarter 2022 was driven by strong organic growth with new customer additions, including a National U.S. food producer announced in October 2021, increases in average selling price per unit and contribution from the Ex-Tech Plastics acquisition completed in May 2021. Annuncio • Jul 05
good natured Products Inc. (TSXV:GDNP) completed the acquisition of All of the business and operating assets of FormTex Plastics Corporation. good natured Products Inc. (TSXV:GDNP) entered into a definitive asset purchase agreement to acquire All of the business and operating assets of FormTex Plastics Corporation for $4.8 million on May 4, 2022. GDNP anticipates arranging up to a $1.8 million term loan and $3.0 million in cash from net proceeds of the Offering to finance the acquisition. GDNP has entered into an agreement with a syndicate of underwriters co-led by Beacon Securities Limited and National Bank Financial Inc. pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 22,500,000 units at an issue price of $0.40 per Unit to raise aggregate gross proceeds of $9,000,000 (the “Offering”). good natured Products Inc. announced a non-brokered private placement of 15,000,000 of special warrants at an issue price of CAD 0.40 ($0.31) per special warrant for gross proceeds of CAD 6,000,000 ($4.68 million) on May 17, 2022. good natured Products Inc. will use the proceeds from the placement to fund the acquisition. GDNP may complete the Acquisition with cash from treasury if circumstances warrant. The current management team operating FormTex will be joining the good natured team. Each full Warrant will entitle the holder thereof to acquire one common share of good natured Products at a price per Warrant Share of $0.52 for a period of 24 months from the closing of the Offering. The expiry date of the Warrants will be subject to acceleration upon 30 days notice by the Company if the volume weighted average trading price of the common shares of good natured Products exceeds $0.65 for a period of 20 consecutive trading days ending at any time following the date which is 9 months following the Closing Date of the Offering. In connection with the Offering, good natured Products has granted the Underwriters an option (the “Over-Allotment Option”), exercisable in whole or in part by the Underwriters, at any time and from time to time up to 30 days following the closing of the Offering, to purchase up to an additional number of: (i) Units at the Issue Price; or (ii) additional common shares only at a price per Additional Share of $0.38 per Additional Share; or (iii) additional warrants comprising the Units at a price per Additional Warrant of $0.04; or (iv) any combination of Additional Shares and/or Additional Warrants so long as the aggregate number of Additional Units, Additional Shares and/or Additional Warrants which may be issued under the Over-Allotment Option does not exceed 15% of the aggregate number of Unit Shares and Warrants comprising the Units sold pursuant to the base Offering to cover over-allotments, if any, and for market stabilization purposes. In consideration for the services to be provided by the Underwriters in connection with the Offering, the Company has also agreed to pay the Underwriters a cash commission equal to 6.0% of the aggregate gross proceeds of the Offering and issue that number of compensation options to the Underwriters equal to 6.0% of the aggregate number of Units issued pursuant to the Offering. Each Compensation Option shall entitle the holder thereof to acquire one common share of the Company at the Issue Price for a period of 24 months from the closing of the Offering. The current management team operating FormTex will be joining the good natured® team. The Acquisition is subject to customary closing conditions.
Acquisition is scheduled to close on May 12, 2022. Outside date for closing of the transaction is July 31, 2022, which can be extended beyond that subject to mutual consent of the parties. The deal is scheduled to close on May 31, 2022. Highly strategic and synergistic acquisition that is expected to be immediately accretive to shareholders on an adjusted EBITDA basis.
good natured Products Inc. (TSXV:GDNP) completed the acquisition of All of the business and operating assets of FormTex Plastics Corporation on July 4, 2022. Annuncio • Jun 02
good natured Products Inc. announced that it has received CAD 6.561 million in funding On June 1, 2022, good natured Products Inc. closed the transaction. The company has issued 16,402,500 special warrants on commercially reasonable efforts at an issue price of CAD 0.40 per special warrant for gross proceeds of CAD 6,561,000. The transaction has received 40,000 special warrants for insiders of the company. Annuncio • Jun 01
good natured Products Inc., Annual General Meeting, Jul 22, 2022 good natured Products Inc., Annual General Meeting, Jul 22, 2022. Annuncio • May 25
good natured Products Inc. to Report Q1, 2022 Results on May 31, 2022 good natured Products Inc. announced that they will report Q1, 2022 results Pre-Market on May 31, 2022 Annuncio • May 10
good natured Products Inc. Revenue Earnings Guidance for the First Quarter of 2022 good natured Products Inc. reaffirmed revenue guidance for the first quarter of 2022. For the quarter, the company expects to report revenue to be in $24.0 million to $26.0 million range, an increase of approximately 200% to 230%, compared to $7.9 million for the three months ended March 31, 2021. Major Estimate Revision • May 09
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from CA$92.3m to CA$98.7m. Forecast EPS reduced from -CA$0.01 to -CA$0.02 per share. Chemicals industry in Canada expected to see average net income growth of 53% next year. Consensus price target down from CA$1.55 to CA$1.39. Share price fell 13% to CA$0.40 over the past week. 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. Annuncio • May 06
good natured Products Inc. (TSXV:GDNP) entered into a definitive asset purchase agreement to acquire All of the business and operating assets of FormTex Plastics Corporation for $4.8 million. good natured Products Inc. (TSXV:GDNP) entered into a definitive asset purchase agreement to acquire All of the business and operating assets of FormTex Plastics Corporation for $4.8 million on May 4, 2022. GDNP anticipates arranging up to a $1.8 million term loan and $3.0 million in cash from net proceeds of the Offering to finance the acquisition. GDNP has entered into an agreement with a syndicate of underwriters co-led by Beacon Securities Limited and National Bank Financial Inc. pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 22,500,000 units at an issue price of $0.40 per Unit to raise aggregate gross proceeds of $9,000,000 (the “Offering”). GDNP may complete the Acquisition with cash from treasury if circumstances warrant. The current management team operating FormTex will be joining the good natured team. Each full Warrant will entitle the holder thereof to acquire one common share of good natured Products at a price per Warrant Share of $0.52 for a period of 24 months from the closing of the Offering. The expiry date of the Warrants will be subject to acceleration upon 30 days notice by the Company if the volume weighted average trading price of the common shares of good natured Products exceeds $0.65 for a period of 20 consecutive trading days ending at any time following the date which is 9 months following the Closing Date of the Offering. In connection with the Offering, good natured Products has granted the Underwriters an option (the “Over-Allotment Option”), exercisable in whole or in part by the Underwriters, at any time and from time to time up to 30 days following the closing of the Offering, to purchase up to an additional number of: (i) Units at the Issue Price; or (ii) additional common shares only at a price per Additional Share of $0.38 per Additional Share; or (iii) additional warrants comprising the Units at a price per Additional Warrant of $0.04; or (iv) any combination of Additional Shares and/or Additional Warrants so long as the aggregate number of Additional Units, Additional Shares and/or Additional Warrants which may be issued under the Over-Allotment Option does not exceed 15% of the aggregate number of Unit Shares and Warrants comprising the Units sold pursuant to the base Offering to cover over-allotments, if any, and for market stabilization purposes. In consideration for the services to be provided by the Underwriters in connection with the Offering, the Company has also agreed to pay the Underwriters a cash commission equal to 6.0% of the aggregate gross proceeds of the Offering and issue that number of compensation options to the Underwriters equal to 6.0% of the aggregate number of Units issued pursuant to the Offering. Each Compensation Option shall entitle the holder thereof to acquire one common share of the Company at the Issue Price for a period of 24 months from the closing of the Offering. The Acquisition is subject to customary closing conditions.
Acquisition is scheduled to close on May 12, 2022. Outside date for closing of the transaction is July 31, 2022, which can be extended beyond that subject to mutual consent of the parties. Highly strategic and synergistic acquisition that is expected to be immediately accretive to shareholders on an adjusted EBITDA basis. 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. Price Target Changed • May 03
Price target decreased to CA$1.45 Down from CA$1.63, the current price target is an average from 4 analysts. New target price is 219% above last closing price of CA$0.46. Stock is down 56% over the past year. The company is forecast to post a net loss per share of CA$0.02 next year compared to a net loss per share of CA$0.06 last year. Reported Earnings • May 03
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: CA$0.06 loss per share (down from CA$0.058 loss in FY 2020). Revenue: CA$61.1m (up 266% from FY 2020). Net loss: CA$12.7m (loss widened 77% from FY 2020). Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) missed analyst estimates by 20%. Over the next year, revenue is forecast to grow 57%, compared to a 38% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 63% per year, which means it is well ahead of earnings. Recent Insider Transactions • Feb 18
Insider recently sold CA$77k worth of stock On the 11th of February, James Harvey sold around 112k shares on-market at roughly CA$0.69 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$212k more than they bought in the last 12 months. Annuncio • Feb 17
good natured Products Inc. Provides Revenue Guidance for the Full Year Ended December 31, 2021 good natured Products Inc. provided revenue guidance for the full year ended December 31, 2021. Fiscal year 2021 revenue expected to range between $59.3 million to $61.3 million. Annuncio • Jan 22
good natured Products Inc. Provides Preliminary Earnings Guidance for the Fourth Quarter and Full Year Ending December 31, 2021 good natured Products Inc. provided preliminary earnings guidance for the fourth quarter and full year ending December 31, 2021. For the quarter, the company'spreliminary revenue is anticipated at $21.0 million to $23.0 million, an increase of approximately 300% to 330%, compared to $5.3 million for the three months ended December 31, 2020. Revenue for fiscal year 2021 is expected in the range of $59.3 million and $61.3 million, an increase of approximately 255% to 270%, compared to $16.7 million for the twelve-month period ended December 31, 2020. Recent Insider Transactions Derivative • Jan 08
Executive Chair & CEO exercised options to buy CA$211k worth of stock. On the 31st of December, Paul Antoniadis exercised options to buy 281k shares at a strike price of around CA$0.74, costing a total of CA$208k. This transaction amounted to 4.4% of their direct individual holding at the time of the trade. Since March 2021, Paul's direct individual holding has increased from 6.43m shares to 6.44m. Company insiders have collectively bought CA$533k more than they sold, via options and on-market transactions, in the last 12 months. Breakeven Date Change • Jan 02
Forecast to breakeven in 2024 The 6 analysts covering good natured Products expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of CA$4.00m in 2024. Average annual earnings growth of 73% is required to achieve expected profit on schedule. Major Estimate Revision • Dec 06
Consensus EPS estimates fall to -CA$0.05 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from CA$57.6m to CA$56.9m. Losses expected to increase from -CA$0.045 to -CA$0.05. Chemicals industry in Canada expected to see average net income growth of 36% next year. Consensus price target broadly unchanged at CA$1.71. Share price fell 9.8% to CA$0.83 over the past week. Reported Earnings • Dec 01
Third quarter 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2021 results: CA$0.013 loss per share (up from CA$0.014 loss in 3Q 2020). Revenue: CA$18.0m (up 286% from 3Q 2020). Net loss: CA$2.92m (loss widened 71% from 3Q 2020). Revenue missed analyst estimates by 3.8%. Earnings per share (EPS) exceeded analyst estimates by 100%. Earnings per share (EPS) surpassed analyst estimates by 100%. Over the next year, revenue is forecast to grow 87%, compared to a 20% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 104% per year, which means it is well ahead of earnings. Breakeven Date Change • Nov 25
No longer forecast to breakeven The 5 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$2.49m in 2022. New consensus forecast suggests the company will make a loss of CA$946.7k in 2022. Price Target Changed • Oct 30
Price target decreased to CA$1.84 Down from CA$2.01, the current price target is an average from 5 analysts. New target price is 133% above last closing price of CA$0.79. Stock is up 151% over the past year. The company is forecast to post a net loss per share of CA$0.045 next year compared to a net loss per share of CA$0.058 last year. Recent Insider Transactions • Sep 05
Independent Director recently sold CA$163k worth of stock On the 3rd of September, Michael Thomson sold around 175k shares on-market at roughly CA$0.93 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$301k more than they bought in the last 12 months. Reported Earnings • Aug 27
Second quarter 2021 earnings released: CA$0.017 loss per share (vs CA$0.013 loss in 2Q 2020) The company reported a solid second quarter result with improved revenues and control over costs, although losses increased. Second quarter 2021 results: Revenue: CA$12.4m (up 237% from 2Q 2020). Net loss: CA$3.70m (loss widened 144% from 2Q 2020). Annuncio • Aug 18
good natured Products Inc. Expands Line of Plant-based Kitchen Products good natured Products Inc. announced the launch of its plant-based Bin Bags, Zipper Bags, and retail-packed Compostable Tableware. This launch highlights the Company's ongoing diversification into a broad range of plant-based materials including fiber and flexible film, which is underpinned by its increasingly robust technical and supply chain capabilities in the sustainable materials market. good natured focuses its consumer product development on creating frequently used, everyday household items that make it easy and affordable for people to switch to plant-based and make a positive environmental impact. The Company continues to build its range of earth-friendly consumer products and carve out its share of the US $150 billion fast moving consumer goods ("FMCG") market, 25% of which is now made up of sustainable goods. As always, good natured® has developed these latest products to look and perform just like traditional petroleum-based options with the added benefit of being made from annually renewable resources and without BPAs, phthalates and other chemicals of concern. Designed to replace petroleum-based trash liners and offered in the most popular size in North America, good natured® Plant-based Tall Bin Bags are made of USDA Certified Bio-based LDPE that is manufactured with annually renewable sugarcane. In the US market alone, household trash liners represent a $1.7+ billion annual opportunity with 50% of the US population using 25 or more bags per month. Similarly, good natured Plant-based Zipper Bags, in the most popular freezer and sandwich formats, are made of Bio-LDPE offering the same strength and durability of traditional brand-name zipper bags and contain no chemicals of concern that are potentially harmful to humans and the planet. With almost 75% of the US population using 3-5 zipper bags per week, these are exactly the type of fast-moving products that retailers embrace to drive frequent repeat visits to their stores and higher spend per customer. Complementing these items to offer a more complete assortment for retailers, good natured® also launched a collection of Compostable Tableware, which includes all the most popular household party and picnic items, including plates, bowls, hot cups and cutlery. Made from tree-free fiber, heat-resistant PLA and SFI paperboard, this assortment fulfills the need for holiday and seasonal partyware, which is rebounding quickly as COVID restrictions are lifting. Of note, the premium, heavy duty cutlery is certified compostable, 97% plant-based and can even withstand multiple runs through the dishwasher, making what's often a disposable item into something reusable and even more eco-friendly. Demand for environmentally friendly tableware is particularly high amongst millennials as upwards of 61% are willing to pay more for a more sustainable alternative. Annuncio • Jun 10
good natured® Develops Canada's First Compostable Microwavable To Go Containers good natured® has developed Canada's first compostable, Microwavable To Go Containers. good natured® boasts 400 different products and services, and this new environmentally friendly packaging will be vital for consumers and businesses acclimating to Canada's impending single-use plastic regulations. The compostable Microwavable To Go Containers are made from 97% plant-based materials and are manufactured without chemicals of concern that are potentially dangerous to public health and the planet. The durable, leak resistant containers are compostable, consistent with a zero waste focus. good natured® is one of the largest North American suppliers of eco-conscious products made without petroleum and made free from BPAs, phthalates and other chemicals of concern. Reported Earnings • Jun 01
First quarter 2021 earnings released: CA$0.01 loss per share (vs CA$0.008 loss in 1Q 2020) The company reported a solid first quarter result with improved revenues and control over costs, although losses increased. First quarter 2021 results: Revenue: CA$7.90m (up 159% from 1Q 2020). Net loss: CA$1.90m (loss widened 136% from 1Q 2020). Annuncio • May 29
good natured Products Inc. (TSXV:GDNP) completed the acquisition of All of the Operating Assets of Ex-Tech Plastics Inc. good natured Products Inc. (TSXV:GDNP) entered into definitive agreement to acquire All of the Operating Assets of Ex-Tech Plastics Inc. on May 4, 2021. The good natured Products Inc. (TSXV:GDNP) also acquired real estate assets of ETP Inc. along with this transaction. The total consideration for both assets acquisitions paid in cash $14.1 million, and $3.25 million in net working capital acquired at closing. The current management team operating Ex-Tech will be joining the good natured team. The company anticipates arranging the following financing to complete the Acquisition and related integration costs: $5 million term loan from a Canadian financial institution; $2.8 million mortgage with a US regional bank to support the acquisition of the real estate at Ex-Tech; and $6.3 million in cash from the company's treasury. This acquisition is expected to be immediately accretive to shareholders on an adjusted EBITDA basis. Paul Antoniadis, Chief Executive Officer stated that acquisition of Ex-Tech Plastics Inc. positions good natured for further strong revenue growth and improved profitability. The acquisition is subject to customary closing conditions, including TSX Venture Exchange approval and is expected to close in June 30, 2021, subject to extension by mutual consent of the parties. As per filing on May 18, 2021, The deal is anticipated to close later in May.
good natured Products Inc. (TSXV:GDNP) completed the acquisition of All of the Operating Assets of Ex-Tech Plastics Inc. on May 28, 2021. Annuncio • May 12
good natured Products Inc. Announces Canada's First Compostable & Microwavable Plant-Based Packaging to Address Proposed Ban on Single-Use Take Out Containers good natured Products Inc. to launch Canada's first innovative assortment of compostable Microwavable To Go Containers as a viable alternative for businesses faced with the impending single-use plastic ban in Canada. The Canadian Federal government has announced plans to regulate and/or ban certain single-use plastic items starting in December 2021, including a proposed ban on foodservice ware made from "problematic plastic that is hard to recycle", such as black take-out containers used frequently by restaurants and grocers. The proposed ban also recognizes "innovative technologies to improve the environmental outcomes of some single-use products. For example, the use of compostable, bio-based, or biodegradable plastics. Minimizing waste and environmental impact is top of mind for both consumers and organizations, yet at the same time the widespread effect of COVID-19 has led to higher requirements to protect food in grocery stores and increased demand for take-out from restaurants due to rolling restrictions on in-restaurant dining. This, in combination with growing government and corporate mandates, is driving demand for innovative packaging solutions that do less harm to the planet and human health. Packaging made from renewable materials that can be commercially composted at the end of its useful life is considered a viable option to create a closed loop, zero-waste solution. This is especially true in foodservices applications, where traces of food and oils on packaging can make them problematic for easy recycling, regardless of the material they're made from. Compounding the recylability issue, some traditional petroleum-based plastics have been found to contain chemicals of concern, like BPAs and phthalates, which pose the risk of leaching when heated. Heat resistant plant-based options with no chemicals of concern were not previously viable due to high price points. In an environment where restaurants are fighting to survive, absorbing substantially higher costs in operations is simply not an option. Working with its recently acquired in-house manufacturing facilities, Shepherd and IPF, along with company team members across engineering, packaging and product development, the company announced it will be presenting its new and innovative Microwavable To Go Containers at the Grocery and Specialty Foods West virtual tradeshow. These containers are designed to be compostable, are made from 97% plant-based materials and contain no chemicals of concern that are potentially harmful to human health and the environment. With leak resistance and durability in line with traditional plastic options, good natured® Microwavable To Go Containers are suitable for hot foods and microwave re-heating. This is one of the first available hot food packaging options on the market that combines the zero-waste benefits of commercial composting with affordable price points, and has Canadian innovation written all over it. The Company is launching the most popular 16, 24 and 32 oz formats in a variety of trending 2021 colours with interchangeable leak-resistant lids – a crystal clear lid for grocers to maximize product visualization and a translucent lid suitable for microwave heating, which is particularly appealing for restaurant and take-out applications. Annuncio • May 07
good natured Products Inc. (TSXV:GDNP) entered into definitive agreement to acquire All of the Operating Assets of Ex-Tech Plastics Inc. for approximately $14.1 million. good natured Products Inc. (TSXV:GDNP) entered into definitive agreement to acquire All of the Operating Assets of Ex-Tech Plastics Inc. for approximately $14.1 million on May 4, 2021. Consideration paid in cash $14.1 million, and $3.25 million in net working capital acquired at closing. The current management team operating Ex-Tech will be joining the good natured team. The company anticipates arranging the following financing to complete the Acquisition and related integration costs: $5 million term loan from a Canadian financial institution; $2.8 million mortgage with a US regional bank to support the acquisition of the real estate at Ex-Tech; and $6.3 million in cash from the company's treasury. This acquisition is expected to be immediately accretive to shareholders on an adjusted EBITDA basis. The acquisition is subject to customary closing conditions, including TSX Venture Exchange approval and is expected to close in June 30, 2021, subject to extension by mutual consent of the parties. Reported Earnings • May 04
Full year 2020 earnings released: CA$0.058 loss per share (vs CA$0.035 loss in FY 2019) The company reported a mediocre full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: CA$16.7m (up 66% from FY 2019). Net loss: CA$7.19m (loss widened 107% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 98% per year, which means it is well ahead of earnings. 