Reported Earnings • Nov 02
Full year 2024 earnings released: US$0.006 loss per share (vs US$0.006 loss in FY 2023) Full year 2024 results: US$0.006 loss per share (in line with FY 2023). Revenue: US$31.1m (down 3.6% from FY 2023). Net loss: US$13.1m (loss widened 13% from FY 2023). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Board Change • Sep 06
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). Non-Executive Director Vincent Akomeah was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Aug 03
Third quarter 2024 earnings released: US$0.002 loss per share (vs US$0.002 loss in 3Q 2023) Third quarter 2024 results: US$0.002 loss per share (in line with 3Q 2023). Revenue: US$10.5m (up 26% from 3Q 2023). Net loss: US$3.24m (loss narrowed 11% from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • May 03
Second quarter 2024 earnings released: US$0.002 loss per share (vs US$0.001 loss in 2Q 2023) Second quarter 2024 results: US$0.002 loss per share (further deteriorated from US$0.001 loss in 2Q 2023). Revenue: US$6.13m (down 26% from 2Q 2023). Net loss: US$3.18m (loss widened 50% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Board Change • Apr 25
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). Non-Executive Director Vincent Akomeah was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Dec 01
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). Non-Executive Director Vincent Akomeah was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. New Risk • Nov 23
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$1.1m 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$1.1m free cash flow). Shares are highly illiquid. Earnings have declined by 17% per year over the past 5 years. Market cap is less than US$10m (GH₵40.8m market cap, or US$3.42m). New Risk • Aug 06
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. 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 (-US$4.1m free cash flow). Shares are highly illiquid. Negative equity (-US$69m). Earnings have declined by 26% per year over the past 5 years. Market cap is less than US$10m (GH₵40.8m market cap, or US$3.74m). Minor Risk Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Board Change • Jun 09
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (8 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • May 19
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (8 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Apr 28
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (8 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Feb 04
First quarter 2023 earnings released: US$0.002 loss per share (vs US$0.001 loss in 1Q 2022) First quarter 2023 results: US$0.002 loss per share (further deteriorated from US$0.001 loss in 1Q 2022). Revenue: US$7.57m (down 46% from 1Q 2022). Net loss: US$3.39m (loss widened 13% from 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Board Change • Jan 18
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (8 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Nov 30
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 03
Full year 2022 earnings released: US$0.007 loss per share (vs US$0.007 loss in FY 2021) Full year 2022 results: US$0.007 loss per share (in line with FY 2021). Revenue: US$43.5m (up 4.0% from FY 2021). Net loss: US$13.9m (loss widened 5.0% from FY 2021). Board Change • Sep 07
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Aug 01
Third quarter 2022 earnings released: US$0.002 loss per share (vs US$0.002 loss in 3Q 2021) Third quarter 2022 results: US$0.002 loss per share (vs US$0.002 loss in 3Q 2021). Revenue: US$8.14m (down 10% from 3Q 2021). Net loss: US$2.87m (loss narrowed 18% from 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • May 02
Second quarter 2022 earnings released: US$0.002 loss per share (vs US$0.001 loss in 2Q 2021) Second quarter 2022 results: US$0.002 loss per share (down from US$0.001 loss in 2Q 2021). Revenue: US$9.97m (down 5.3% from 2Q 2021). Net loss: US$3.99m (loss widened 43% from 2Q 2021). Board Change • Apr 29
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Apr 01
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Feb 18
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Feb 01
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: US$0.001 loss per share (vs US$0.001 loss in 1Q 2021). Revenue: US$13.9m (up 88% from 1Q 2021). Net loss: US$3.00m (loss widened 43% from 1Q 2021). Revenue was in line with analyst estimates. Board Change • Jan 05
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Dec 14
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Nov 10
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 01
Full year 2021 earnings released: US$0.006 loss per share (vs US$0.005 loss in FY 2020) The company reported a solid full year result with improved revenues and control over costs, although losses increased. Full year 2021 results: Revenue: US$41.8m (up 207% from FY 2020). Net loss: US$13.3m (loss widened 44% from FY 2020). Board Change • Oct 19
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Aug 02
Third quarter 2021 earnings released: US$0.002 loss per share (vs US$0.001 loss in 3Q 2020) The company reported a solid third quarter result with improved revenues and control over costs, although losses increased. Third quarter 2021 results: Revenue: US$9.05m (up 228% from 3Q 2020). Net loss: US$3.51m (loss widened 136% from 3Q 2020). Reported Earnings • May 06
Second quarter 2021 earnings released: US$0.001 loss per share (vs US$0.001 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: US$10.5m (up 182% from 2Q 2020). Net loss: US$2.79m (loss widened 109% from 2Q 2020). Reported Earnings • Feb 06
First quarter 2021 earnings released: US$0.001 loss per share (vs US$0.001 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: US$7.42m (up 99% from 1Q 2020). Net loss: US$2.11m (loss widened 58% from 1Q 2020).