New Risk • May 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.6% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (32% average weekly change). High level of non-cash earnings (42% accrual ratio). Market cap is less than US$10m (AU$2.58m market cap, or US$1.71m). Minor Risk Shareholders have been diluted in the past year (2.6% increase in shares outstanding). 공시 • Apr 05
Mighty Craft Limited Announces Changes of Company Secretary Mighty Craft Limited announced the appointments of Charly Duffy and Ben Malone as Joint Company Secretaries, upon the resignation of Andrew Syme as Company Secretary, effective immediately. Charly is a practising corporate and commercial lawyer who has comprehensive experience working with ASX-listed companies in both a legal and company secretarial capacity. Charly has completed the Graduate Diploma in Applied Corporate Governance with the Governance Institute of Australia and is a Fellow Member of Governance Institute of Australia and Chartered Governance Institute. Ben is a Chartered Accountant with extensive CFO experience at several ASX-listed entities. He is a Graduate Member of the Australian Institute of Company Directors. New Risk • Mar 01
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shares are highly illiquid. High level of non-cash earnings (42% accrual ratio). Market cap is less than US$10m (AU$5.11m market cap, or US$3.32m). Minor Risk Shareholders have been diluted in the past year (13% increase in shares outstanding). 공시 • Feb 15
Deale and Elisa-Stanley-Hunt, the original founders of Slipstream Brewing Co Pty Ltd agreed to acquire an unknown stake in Slipstream Brewing Co Pty Ltd. from Mighty Craft Limited (ASX:MCL). Deale and Elisa-Stanley-Hunt, the original founders of Slipstream Brewing Co Pty Ltd agreed to acquire an unknown stake in Slipstream Brewing Co Pty Ltd. from Mighty Craft Limited (ASX:MCL) on February 15, 2024. The consideration consists of AUD 0.85 million in cash. As part of the consideration, AUD 0.85 million was paid towards common equity. Board Change • Dec 28
No independent directors There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Sean Ebert is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. 공시 • Dec 16
Mighty Craft Limited has completed a Follow-on Equity Offering in the amount of AUD 5.2 million. Mighty Craft Limited has completed a Follow-on Equity Offering in the amount of AUD 5.2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 35,172,413
Price\Range: AUD 0.145
Discount Per Security: AUD 0.0087
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 689,655
Price\Range: AUD 0.145
Discount Per Security: AUD 0.0087
Transaction Features: Subsequent Direct Listing 공시 • Nov 29
Mighty Craft Limited Announces the Appointment of Grant Peck as Non-Executive Chair Mighty Craft Limited announced the appointment of Grant Peck to its Board of Directors as non-executive Chair, effective 27 November, 2023. Grant has been involved in the beverage industry over the last three decades and has had leadership roles with Lion Nathan in the 1990's, then Beringer Blass and then Foster's Group in the period between 2004 and 2016 including when it was owned by global brewer SAB Miller. Mr. Peck is a Chartered Accountant with extensive beverage experience in CFO roles with CUB, Beringer Blass and McCormick Foods - a NYSE listed consumer foods group. In addition, Grant managed the CUB supply chain for an extended period when the business was a multi-beverage model. Grant also has managed smaller enterprises with time in the Agrifoods space with Sunny Ridge Farms. Most recently Grant was CEO of the ASX listed small cap McPhersons Limited, where he had originally been in a Non-Executive Director role and head of the Audit and Risk Committee. New Risk • Nov 17
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 Australian stocks, typically moving 26% 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 (26% average weekly change). High level of non-cash earnings (24% accrual ratio). Market cap is less than US$10m (AU$4.37m market cap, or US$2.84m). Minor Risk Shareholders have been diluted in the past year (11% increase in shares outstanding). 공시 • Sep 20
Mighty Craft Limited, Annual General Meeting, Nov 14, 2023 Mighty Craft Limited, Annual General Meeting, Nov 14, 2023. Reported Earnings • Aug 30
Full year 2023 earnings released: EPS: AU$0.029 (vs AU$0.056 loss in FY 2022) Full year 2023 results: EPS: AU$0.029 (up from AU$0.056 loss in FY 2022). Revenue: AU$112.7m (up 80% from FY 2022). Net income: AU$9.73m (up AU$27.0m from FY 2022). Profit margin: 8.6% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. New Risk • Aug 29
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$8.5m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 43% per year over the past 5 years. Market cap is less than US$10m (AU$10.9m market cap, or US$7.04m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (11% increase in shares outstanding). 공시 • Aug 26
Mighty Craft Limited Announces the Resignation Of Trevor O'hoy from its Board of Directors Mighty Craft Limited announced the resignation Of Trevor O'Hoy from its Board of Directors effective 25 August. 공시 • Aug 10
Mighty Craft Limited to Report Fiscal Year 2023 Results on Aug 29, 2023 Mighty Craft Limited announced that they will report fiscal year 2023 results on Aug 29, 2023 New Risk • Aug 04
New major risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$15.3m (US$10.0m) This is considered a minor 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 Risks Less than 1 year of cash runway based on free cash flow trend (-AU$8.5m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 43% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (11% increase in shares outstanding). Market cap is less than US$100m (AU$15.3m market cap, or US$10.0m). 공시 • Jul 12
Mighty Craft Limited Provides Earnings Guidance for the Fourth Quarter 2023 Mighty Craft Limited provided earnings guidance for the fourth quarter 2023. The company expects sales to be in the range of $21.0 million - $22.0 million, representing approximately a 7.5% decline versus fourth quarter 2022 despite strong growth from Better Beer and delivery of the 10 million litre commitment in year 2023. New Risk • Jun 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. 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$8.5m free cash flow). Earnings have declined by 43% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (9.7% increase in shares outstanding). Market cap is less than US$100m (AU$25.2m market cap, or US$17.0m). Reported Earnings • Feb 28
First half 2023 earnings released First half 2023 results: Revenue: AU$45.2m (up 75% from 1H 2022). Net loss: AU$5.30m (loss widened 2.9% from 1H 2022). Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Hospitality industry in Australia. 공시 • Jan 24
Mighty Craft Limited to Report Q2, 2023 Results on Jan 30, 2023 Mighty Craft Limited announced that they will report Q2, 2023 results on Jan 30, 2023 Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Co-Founder, GM of Beer & Non-Executive Director Dan Wales was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 29
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Founder, GM of Beer & Non-Executive Director Dan Wales was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.