공시 • Mar 28
Orexplore Technologies Limited, Annual General Meeting, May 31, 2024 Orexplore Technologies Limited, Annual General Meeting, May 31, 2024. Agenda: To elect directors. Reported Earnings • Mar 01
Full year 2023 earnings released: AU$0.065 loss per share (vs AU$0.10 loss in FY 2022) Full year 2023 results: AU$0.065 loss per share (improved from AU$0.10 loss in FY 2022). Revenue: AU$3.43m (up 183% from FY 2022). Net loss: AU$8.19m (loss narrowed 22% from FY 2022). Board Change • Feb 13
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Non-Executive Director Stefan Sädbom was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jan 23
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Non-Executive Director Stefan Sädbom was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 공시 • Nov 01
Orexplore Technologies Limited Announces Resignation of Stuart Carmichael as a Non-Executive Director The Board of Orexplore Technologies Limited advised that Stuart Carmichael has stepped down as a Non-Executive Director of the Company to focus on his other business interests. Mr. Carmichael joined the Orexplore Board in February 2021 and played a key role in the initial public offering and ASX listing of the Company in February 2022 as well as making an important contribution to the establishment of robust commercial and governance standards at both Board and management levels. New Risk • Oct 06
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 65% 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 Less than 1 year of cash runway based on free cash flow trend (-AU$7.0m free cash flow). Share price has been highly volatile over the past 3 months (47% average weekly change). Earnings have declined by 32% per year over the past 5 years. Shareholders have been substantially diluted in the past year (65% increase in shares outstanding). Market cap is less than US$10m (AU$7.01m market cap, or US$4.47m). Minor Risk Revenue is less than US$5m (AU$2.5m revenue, or US$1.6m). New Risk • Sep 16
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor 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 Less than 1 year of cash runway based on free cash flow trend (-AU$7.0m free cash flow). Shares are highly illiquid. Earnings have declined by 32% per year over the past 5 years. Market cap is less than US$10m (AU$5.60m market cap, or US$3.60m). Minor Risks Shareholders have been diluted in the past year (15% increase in shares outstanding). Revenue is less than US$5m (AU$2.5m revenue, or US$1.6m). Reported Earnings • Sep 05
First half 2023 earnings released: AU$0.045 loss per share (vs AU$0.036 loss in 1H 2022) First half 2023 results: AU$0.045 loss per share (further deteriorated from AU$0.036 loss in 1H 2022). Revenue: AU$1.49m (up AU$1.25m from 1H 2022). Net loss: AU$4.68m (loss widened 26% from 1H 2022). New Risk • Aug 31
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 (-AU$7.1m free cash flow). Shares are highly illiquid. Earnings have declined by 25% per year over the past 5 years. Revenue is less than US$1m (AU$1.2m revenue, or US$785k). Market cap is less than US$10m (AU$6.01m market cap, or US$3.89m). Minor Risk Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Board Change • Jul 13
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). Non-Executive Chairman Alan Bye is the most experienced director on the board, commencing their role in 2020. Independent Non-Executive Director Stefan Sädbom was the last independent director to join the board, commencing their role in 2021. 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. Board Change • Jun 21
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). Non-Executive Chairman Alan Bye is the most experienced director on the board, commencing their role in 2020. Independent Non-Executive Director Stefan Sädbom was the last independent director to join the board, commencing their role in 2021. 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. Board Change • May 01
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). Non-Executive Chairman Alan Bye is the most experienced director on the board, commencing their role in 2020. Independent Non-Executive Director Stefan Sädbom was the last independent director to join the board, commencing their role in 2021. 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. Board Change • Mar 15
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). Non-Executive Chairman Alan Bye is the most experienced director on the board, commencing their role in 2020. Independent Non-Executive Director Stefan Sädbom was the last independent director to join the board, commencing their role in 2021. 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. Reported Earnings • Mar 04
Full year 2022 earnings released: AU$0.10 loss per share (vs AU$0.051 loss in FY 2021) Full year 2022 results: AU$0.10 loss per share (further deteriorated from AU$0.051 loss in FY 2021). Revenue: AU$1.55m (up AU$1.54m from FY 2021). Net loss: AU$10.5m (loss widened 177% from FY 2021). Board Change • Feb 28
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). Non-Executive Chairman Alan Bye is the most experienced director on the board, commencing their role in 2020. Independent Non-Executive Director Stefan Sädbom was the last independent director to join the board, commencing their role in 2021. 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. 공시 • Jan 23
Orexplore Technologies Limited Appoints Will Randall as Non-Executive Director Orexplore Technologies Limited announce the appointment of Mr. Will Randall as a Non-Executive Director, with immediate effect. Mr. Randall has over 25 years of operational and executive experience in the Global Commodity and Mining Industry, operating across cultures, geographies, products andsupply chains. Mr. Randall was based in Asia from 1997 to 2020 with a critical focus on business development and supply chain strategies. He has served on the boards of various listed and private companies over this period. He will be representing his family company Circle 5 Management, a major shareholder in Orexplore, with a 19% holding. Mr. Randall holds a Bachelor of Business, majoring in Marketing & International Trade fromthe Australian Catholic University. Board Change • Jan 05
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, 2 were independent directors. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Non-Executive Chairman Alan Bye is the most experienced director on the board, commencing their role in 2020. Independent Non-Executive Director Stefan Sädbom was the last independent director to join the board, commencing their role in 2021. 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. Recent Insider Transactions • Dec 24
Non-Executive Director recently bought AU$108k worth of stock On the 21st of December, Kent Swick bought around 1m shares on-market at roughly AU$0.095 per share. This transaction amounted to 7.9% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$350k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Nov 16
Non-Executive Director recently bought AU$87k worth of stock On the 8th of November, Kent Swick bought around 1m shares on-market at roughly AU$0.083 per share. This transaction amounted to 8.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months.