New Risk • Jun 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 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 Less than 1 year of cash runway based on free cash flow trend (-CA$1.0m free cash flow). Share price has been highly volatile over the past 3 months (35% average weekly change). Negative equity (-CA$798k). Earnings have declined by 69% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$2.02m market cap, or US$1.47m). Minor Risk Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). New Risk • Sep 04
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$2.0m 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$2.0m free cash flow). Share price has been highly volatile over the past 3 months (27% average weekly change). Negative equity (-CA$594k). Earnings have declined by 77% per year over the past 5 years. Revenue is less than US$1m (CA$257 revenue, or US$189). Market cap is less than US$10m (CA$3.06m market cap, or US$2.25m). New Risk • Jun 20
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 Canadian stocks, typically moving 17% 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 Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Negative equity (-CA$306k). Earnings have declined by 85% per year over the past 5 years. Revenue is less than US$1m (CA$11k revenue, or US$8.6k). Market cap is less than US$10m (CA$3.69m market cap, or US$2.80m). Minor Risks Less than 1 year of cash runway based on current free cash flow (-CA$742k). Shareholders have been diluted in the past year (9.1% increase in shares outstanding). Board Change • Jan 17
Less than half of directors are independent There are 3 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: 3 new directors. No experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Director Billy Page is the most experienced director on the board, commencing their role in 2021. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Board Change • Nov 16
High number of new directors Independent Director Billy Page was the last director to join the board, commencing their role in 2021. お知らせ • Sep 29
SpotLite360 IOT Solutions, Inc. announced that it has received CAD 0.35 million in funding SpotLite360 IOT Solutions, Inc. announced a non-brokered private placement of 3,500,000 units at a price of CAD 0.10 for gross proceeds of up to CAD 350,000 on September 28, 2022. Each unit comprise one common share and one half of transferable share purchase warrant, with each full warrant entitling the holder to purchase one common share at a price of CAD 0.20 per share for a period of twenty-four from the date of issuance. All securities issued are subject to a statutory four month and one day hold period that expires on January 24, 2023. In connection with the Private Placement, the company has paid cash finder’s fees of CAD 10,500 and it has issued 105,000 warrants on the same terms as noted above to qualified parties. お知らせ • Jul 26
SpotLite360 IOT Solutions, Inc., Annual General Meeting, Sep 23, 2022 SpotLite360 IOT Solutions, Inc., Annual General Meeting, Sep 23, 2022. Board Change • Apr 27
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. No experienced directors. No highly experienced directors. Independent Director Alex Somjen is the most experienced director on the board, commencing their role in 2019. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. お知らせ • Feb 24
SpotLite360 IOT Solutions, Inc. announced that it has received CAD 1.764073 million in funding On February 22, 2022, SpotLite360 IOT Solutions, Inc. closed the transaction. The company issued 17,640,725 units for gross proceeds of CAD 1,764,072.50. The company paid finder fees of finder’s fees of CAD 85,350 and it has issued 853,800 warrants. All securities issued are subject to a statutory four month and one day hold period that expires
on June 23, 2022. お知らせ • Feb 11
SpotLite360 IOT Solutions, Inc. announced that it expects to receive CAD 3 million in funding SpotLite360 IOT Solutions, Inc. announced a non-brokered private placement for up to 30,000,000 units at a price of CAD 0.10 per unit for gross proceeds of CAD 3,000,000 on February 10, 2022. Each unit consists of one common share and one-half of one transferable share purchase warrant, with each warrant entitling the holder to purchase an additional common share at a price of CAD 0.15 for a period of 36 months from the date of issuance. Finders’ fees may be paid in certain circumstances. All securities to be issued in connection with the private placement will be subject to a four-month-and-one-day hold period from issuance. お知らせ • Jul 14
Spotlite360 Announces Blockchain and IoT Solution for Healthcare Industry Supply Chains SPOTLITE360 TECHNOLOGIES, INC. announced that it has begun to commercialize its enterprise software solution in the healthcare industry to help overcome many of the common challenges in healthcare supply chains. The Company announced its pharmaceutical industry initiative to provide tracking, tracing, and sustainability solutions for stakeholders in the sourcing, production, transportation, and distribution of medications. With several operational and compliance nuances that are unique to healthcare supply chains, Spotlite360 has tailored its software solution which leverages blockchain, Internet-of-Things (“IoT”) sensors, and machine learning to align with the current and future requirements of healthcare firms across North America. The Company has started introducing this solution to prospective accounts in the healthcare industry. Recent events in the healthcare industry have highlighted several weak points in supply chains which could stand to be remedied by the Spotlite360 technologies. Global shortages in product categories such as personal protective equipment, concerns surrounding the authenticity of goods, and greater pressure to deliver orders with short lead times have created unfavourable situations for many firms in the healthcare industry. In the case of the latter, predatory healthcare supplier practices were an emerging problem in early 2020 as noted in a March 27, 2020 bulletin from the Federal Bureau of Investigation1. Because many of these practices sought to exploit “blind spots” in the supply chain (e.g., claiming that a shipment was delayed due to customs difficulties), purchasers had limited recourse in the absence of end-to-end supply chain visibility. The Spotlite360 technologies capture real-time and event-driven data through IoT and RFID sensors, which allow for healthcare firms to realize benefits that could include the following: Comprehensive visibility of the supply chain from point of origin to the end user in a healthcare setting (e.g., hospital, clinic); Detection of tampering, theft, loss, and damage to protect the supply chain’s integrity and prevent waste; Promote accountability among suppliers, distributors, and logistics partners; and Limit providers’ liability by taking a proactive and diligent approach to monitoring all relevant assets in their journey through the supply chain.