New Risk • May 24
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 Bulgarian stocks, typically moving 7.3% 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 Risk Market cap is less than US$10m (€4.52m market cap, or US$5.25m). Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). Revenue is less than US$5m (лв1.7m revenue, or US$1.0m). New Risk • Mar 26
Current risks Currently, the following risks have been identified for the company:
Major Risks:
Share price has been highly volatile over the past 3 months (37% average weekly change).
Revenue is less than US$1m. Market cap is less than US$10m.
Minor Risks:
Shareholders have been diluted in the past year (17% increase in shares outstanding). Buy Or Sell Opportunity • Feb 02
Now 21% undervalued Over the last 90 days, the stock has risen 9.7% to €0.79. The fair value is estimated to be €0.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 52% over the last 3 years. Meanwhile, the company has become profitable. New Risk • Jan 01
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 Bulgarian stocks, typically moving 16% 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 (16% average weekly change). Revenue is less than US$1m (лв1.2m revenue, or US$697k). Market cap is less than US$10m (лв10.0m market cap, or US$6.03m). Minor Risk Shareholders have been diluted in the past year (19% increase in shares outstanding). Buy Or Sell Opportunity • Sep 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.5% to лв1.50. The fair value is estimated to be лв1.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 52% over the last 3 years. Meanwhile, the company has become profitable. New Risk • Sep 16
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 19% 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 Revenue is less than US$1m (лв1.2m revenue, or US$701k). Market cap is less than US$10m (лв10.7m market cap, or US$6.44m). Minor Risk Shareholders have been diluted in the past year (19% increase in shares outstanding). Buy Or Sell Opportunity • Aug 21
Now 21% undervalued Over the last 90 days, the stock has risen 1.3% to лв1.52. The fair value is estimated to be лв1.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Buy Or Sell Opportunity • Aug 06
Now 22% undervalued The stock has been flat over the last 90 days, currently trading at лв1.50. The fair value is estimated to be лв1.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. 공시 • May 16
ImPulse Growth AD, Annual General Meeting, Jun 16, 2025 ImPulse Growth AD, Annual General Meeting, Jun 16, 2025, at 10:00 FLE Standard Time. Location: sofia at 5 lachezar stanchev, sopharma business towers ground floor, sopharma event center, Bulgaria Buy Or Sell Opportunity • Mar 21
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.3% to лв1.45. The fair value is estimated to be лв1.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. New Risk • Mar 16
New major risk - Revenue and earnings growth Revenue has declined by 21% over the past year. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Revenue has declined by 21% over the past year. Revenue is less than US$1m (лв1.3m revenue, or US$733k). Market cap is less than US$10m (лв8.59m market cap, or US$4.78m). New Risk • Mar 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 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 Revenue is less than US$1m (лв757k revenue, or US$421k). Market cap is less than US$10m (лв8.23m market cap, or US$4.58m). Minor Risk Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). 
