New Risk • Aug 16
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$684k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$684k free cash flow). Share price has been highly volatile over the past 3 months (64% average daily change). Negative equity (-CA$1.7m). Earnings have declined by 46% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (€1.68m market cap, or US$1.85m). Minor Risk Shareholders have been diluted in the past year (3.0% increase in shares outstanding). Annuncio • Jun 15
Three Sixty Solar Ltd. Announces Board Changes Three Sixty Solar Ltd. announces the resignation of Scott McLeod from the board of directors and the audit committee with immediate effect. The Company thanks Mr. McLeod for his hard work and service, and wishes him well in his future endeavours. The Company has appointed its CEO Brian Roth as an interim member of the audit committee to fill the vacancy. The Company is relying on Section 3.5 of NI 52-110 Audit Committees in connection with the interim appointment of Mr. Roth. On Behalf of the Board of Directors, Brian Roth Chief Executive Officer & Director. Annuncio • May 01
Three Sixty Solar Ltd. announced that it expects to receive CAD 0.5 million in funding Three Sixty Solar Ltd. announced a private placement of 3,333,334 units at a price of CAD 0.15 per unit for the gross proceeds of CAD 500,000.1 on April 30, 2024. Each unit consists of one common share in the capital of the company and one-half of one share purchase warrant. Each warrant entitles the holder thereof to purchase one additional share at a price of CAD 0.50 per warrant share for a period of 24 months from the date of issuance. All securities issued in connection with the first tranche of the private placement are subject to a statutory hold period in accordance with applicable securities legislation. The private placement remains subject to final approval of the Cboe Canada Inc. stock exchange.
On the same date, the company has issued units at a price of CAD 0.15 per unit in its first tranche closing. Annuncio • Oct 18
Three Sixty Solar Appoints Keegan Lang to the Advisory Board Three Sixty Solar Ltd. announced that it has added Keegan Lang to the Company’s Advisory Board. Keegan Lang is a seasoned professional in the field of business development and consultancy with a track record of accomplishments. With a background in the oil and gas industry, Keegan transitioned into the renewables sector in 2018, where he has since thrived. Keegan has played a pivotal role in the growth of renewable energyprojects, leveraging his network of professionals in the sector. His commitment to customer satisfaction and a customer-focused approach have enabled him to deliver more than $200mm worth of installed projects over the last five years. Mr. Lang brings a wealth of experience in project development in the renewables space including managing the delivery of Engineering, Procurement, and Construction contracts in Canada and the United States. Annuncio • Oct 14
Three Sixty Solar Ltd., Annual General Meeting, Dec 15, 2023 Three Sixty Solar Ltd., Annual General Meeting, Dec 15, 2023. Location: 1500 - 1055 W. Georgia Street Vancouver British Columbia Canada New Risk • Aug 14
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$8.9m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$8.9m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 74% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (€15.5m market cap, or US$17.0m). Annuncio • Jul 13
Three Sixty Solar Appoints Mark Mukhija as Member of the Board of Directors Three Sixty Solar Ltd. announced the appointment of Mr. Mark Mukhija as a member of the board of directors with immediate effect. Mr. Mukhija brings over 15 years of industrial experience including roles with global mining companies such as Teck Resources, Barrick, BHP Billiton, and TransAlta. As of June 2023, Mark began a role as the Head of Sales – North America for Plotlogic, a mining technology company which utilises hyperspectral imaging and artificial intelligence technology aimed at sustainably increasing mineral production and reducing waste. From 2018 to 2023, Mark was the General Manager (Australia) for Motion Metrics, an industrial artificial intelligence and machine learning company catering to the mining industry with a specific focus on safety and productivity. Mr. Mukhija was responsible for the P&L, business development, project management, and logistics of the Motion Metrics (Australia) operations. Mr. Mukhija is a Professional Engineer and graduate from the University of British Columbia with a Bachelor of Applied Science in Mining Engineering (2003). Annuncio • Jun 27
Three Sixty Solar Ltd. announced that it has received CAD 1.514752 million in funding On June 26, 2023, Three Sixty Solar Ltd. closed the transaction. The company issued 2,524,587 Units for aggregate gross proceeds of CAD 1,514,752.20 in the transaction. The company issued 521,334 units for gross proceeds of CAD 312,800.40 in LIFE offering and 287,700 units for gross proceeds of CAD 172,620 in Concurrent Offering. The Company paid an aggregate cash commission of CAD 26,657.40 and issued 44,100 non-transferable broker warrants to certain finders. Each Broker Warrant is exercisable for one Share at the exercise price of CAD 0.60 until June 9, 2028, and is subject to a statutory hold period until October 10, 2023. Annuncio • Jun 09
Three Sixty Solar Ltd. Presents to Yereq Geo Energy at International Sales Conference in Las Vegas Three Sixty Solar Ltd. present to more than 260 of Yereq Geo Energy's sales team, educating them on Three Sixty's solar tower technology. Yereq Geo Energy brought together more than 260 members of their sales team for a sales conference this week in Las Vegas, NV. Three Sixty CEO Brian Roth was invited to educate the team on solar tower technology and the sales process. The geographic reach of the sales team represents states from coast to coast, as well as countries including Mexico, the Philippines, and more. Annuncio • May 13
Three Sixty Solar Ltd. announced that it expects to receive CAD 2 million in funding Three Sixty Solar Ltd. announced a non-brokered private placement of minimum 1,587,301 units and up to 3,174,603 units at a price of CAD 0.63 per unit for gross proceeds of minimum CAD 1,000,000 and up to CAD 2,000,000 on May 12, 2023. Each unit consists of one common share and one non-transferable common share purchase warrant. Each warrant can be exercised to acquire one common share at a price of CAD 0.78 per share for a period of two years from the date of closing. The transaction may close in tranches. The securities issued will be subject to a four month plus a day hold period under applicable securities laws in Canada. A finders’ fees of 7% cash commission may be paid by the company in conjunction with the completion of the transaction in accordance with the TSX Venture Exchange policies. The company reserves the right to accept, reject or partially fill any subscriptions received up to the aggregate amount permitted by the Cboe
Canada. The transaction is expected to close on or before May 26, 2023. Board Change • Apr 26
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Rob Birmingham is the most experienced director on the board, commencing their role in 2019. Independent Director Scott McLeod was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Annuncio • Jan 28
Three Sixty Solar Receives Positive Review of Technology Patentability Three Sixty Solar Ltd. announced that the African Regional Intellectual Property Organization (ARIPO) has completed their preliminary review of the Company’s patent application and declared the key claims pass the tests for patentability: being novel, inventive, and having industrial applicability. Three Sixty Solar has received notification from ARIPO that the organization has completed their initial review of the Company's patent application. According to their review, the four primary claims that differentiate Three Sixty Solar's technology all pass the three tests for patentability; the claims are novel, inventive, and have industrial applicability. These three patentability tests are the same ones considered by all the jurisdictions where Three Sixty has filed for patent protection and each jurisdiction is required to perform similar global searches for prior art. The Company is encouraged that the US PTO and other patent offices will reach the same positive conclusion as ARIPO regarding patentability of the primary claims. Annuncio • Jan 27
Three Sixty Solar Ltd. Receives Positive Review of Technology Patentability Three Sixty Solar Ltd. announced that the African Regional Intellectual Property Organization (ARIPO) has completed their preliminary review of the Company’s patent application and declared the key claims pass the tests for patentability: being novel, inventive, and having industrial applicability. Following a period of technical development and engineering, Three Sixty Solar applied for PCT patent protection with the World Intellectual Property Organization. In April of 2021 the Company’s PCT filing was internationally published, giving Three Sixty until April 2022 to choose which countries and jurisdictions to file patent applications with local offices. In March and April of 2022, Three Sixty submitted patent applications in each of the markets where the Company expects to operate commercially in the years ahead, including the United States, Canada, the European Union, and others. Three Sixty Solar has received notification from ARIPO that the organization has completed their initial review of the Company’s patent application. According to their review, the four primary claims that differentiate Three Sixty Solar’s technology all pass the three tests for patentability; the claims are novel, inventive, and have industrial applicability. These three patentability tests are the same ones considered by all the jurisdictions where Three Sixty has filed for patent protection and each jurisdiction is required to perform similar global searches for prior art. The Company is encouraged that the US PTO and other patent offices will reach the same positive conclusion as ARIPO regarding patentability of the primary claims. The Company’s original application was written with several broader claims that must now be narrowed to focus on the four novel and inventive claims for the patent application to go through secondary review and approval. Three Sixty expects to submit these revised claims, focused on the patentable claims in the coming weeks, well ahead of a June deadline set for response by ARIPO. Board Change • Nov 16
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 2 experienced directors. No highly experienced directors. Independent Director Kyle Stevenson is the most experienced director on the board, commencing their role in 2017. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. 