New Risk • May 11
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.87m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (US$9.87m market cap). Minor Risk Share price has been volatile over the past 3 months (15% average weekly change). Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to US$1.28, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 37x in the Transportation industry in the US. Buy Or Sell Opportunity • Feb 25
Now 21% overvalued Over the last 90 days, the stock has fallen 43% to US$1.19. The fair value is estimated to be US$0.98, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last year. Earnings per share has grown by 60%. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to US$1.21, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 32x in the Transportation industry in the US. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to US$1.64, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 34x in the Transportation industry in the US. New Risk • Jan 10
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 American 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 Risk Share price has been highly volatile over the past 3 months (17% average weekly change). Minor Risk Market cap is less than US$100m (US$14.3m market cap). Buy Or Sell Opportunity • Jan 06
Now 24% overvalued Over the last 90 days, the stock has fallen 51% to US$1.23. The fair value is estimated to be US$0.99, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last year. Earnings per share has grown by 60%. Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to US$1.24, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 31x in the Transportation industry in the US. Reported Earnings • Dec 12
First half 2026 earnings released: EPS: US$0.054 (vs US$0.052 in 1H 2025) First half 2026 results: EPS: US$0.054 (up from US$0.052 in 1H 2025). Revenue: US$27.2m (up 28% from 1H 2025). Net income: US$575.3k (up 6.5% from 1H 2025). Profit margin: 2.1% (down from 2.5% in 1H 2025). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Dec 10
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to US$1.75, the stock trades at a trailing P/E ratio of 11.8x. Average trailing P/E is 31x in the Transportation industry in the US. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to US$2.97, the stock trades at a trailing P/E ratio of 20.1x. Average trailing P/E is 24x in the Transportation industry in the US. Board Change • Sep 02
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. CEO & Chairman Albert Wong is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.