New Risk • Nov 05
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 30% 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 (-CA$122k free cash flow). Shares are highly illiquid. Negative equity (-CA$503k). Earnings have declined by 61% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$760.1k market cap, or US$537.8k). Minor Risk Shareholders have been diluted in the past year (30% increase in shares outstanding). 공지 • Feb 03
Hercules Resources Corp., Annual General Meeting, Mar 31, 2025 Hercules Resources Corp., Annual General Meeting, Mar 31, 2025. New Risk • Jan 19
New major risk - Negative shareholders equity The company has negative equity. Total equity: -CA$345k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. 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 (-CA$451k free cash flow). Share price has been highly volatile over the past 3 months (49% average weekly change). Negative equity (-CA$345k). Revenue is less than US$1m. Market cap is less than US$10m (CA$399.8k market cap, or US$276.4k). Board Change • Nov 06
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. 1 experienced director. No highly experienced directors. Corporate Secretary & Director Gordon Lam 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 board continuity. Lack of experienced directors. New Risk • Aug 18
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: -CA$538k 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 (-CA$538k free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (CA$2.78m market cap, or US$2.03m). Minor Risk Shareholders have been diluted in the past year (48% increase in shares outstanding). New Risk • Jan 30
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: -CA$424k 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 (-CA$424k free cash flow). Share price has been highly volatile over the past 3 months (31% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (CA$4.46m market cap, or US$3.32m). Minor Risk Shareholders have been diluted in the past year (38% increase in shares outstanding). 공지 • Dec 29
Hercules Resources Corp., Annual General Meeting, Mar 08, 2024 Hercules Resources Corp., Annual General Meeting, Mar 08, 2024. 공지 • Nov 23
Hercules Resources Corp. Announces Chief Financial Officer Changes Hercules Resources Corp. announced the appointment of Mr. Tyler P. Friesen as CFO, replacing Alan Tam. Mr. Tam has resigned as CFO but will remain with the Company as an advisor through the audit period. Mr. Friesen obtained a Bachelor of Arts degree from the University of Calgary and subsequently attained his chartered accountant designation in 2011. Mr. Friesen has acquired considerable experience in the areas of financial reporting, regulatory compliance, treasury and audit for publicly listed companies. He has international experience working on projects throughout the world and is well versed in the requirements of today's complex regulatory environments as well as the requirements of international financial reporting standards. Mr. Friesen has also acted as CFO and consulted on numerous other successful resource companies. 공지 • Nov 22
Hercules Resources Corp. Announces Management Appointments Hercules Resources Corp. announced the appointment of Mr. Tyler P. Friesen as Corporate Secretary of the Company. The Company also announced to welcome Mr. Jamie Lewin as an independent director. Mr. Friesen obtained a Bachelor of Arts degree from the University of Calgary and subsequently attained his chartered accountant designation in 2011. Mr. Friesen has acquired considerable experience in the areas of financial reporting, regulatory compliance, treasury and audit for publicly listed companies. He has international experience working on projects throughout the world and is well versed in the requirements of today's complex regulatory environments as well as the requirements of international financial reporting standards. Mr. Friesen has also acted as CFO and consulted on numerous other successful resource companies. Board Change • Oct 04
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, Corporate Secretary & Director Gordon Lam 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 board continuity. Lack of experienced directors. Board Change • Sep 30
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, Corporate Secretary & Director Gordon Lam 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 board continuity. Lack of experienced directors. 공지 • Sep 27
Hercules Resources Corp. announced that it has received CAD 0.4405 million in funding On September 26, 2023, Hercules Resources Corp. closed the transaction. The company issued 2,142,858 units for gross proceeds of CAD 150,000 in second and final tranche. The common share purchase warrant exercisable into one common share until September 25, 2025. All securities to be issued pursuant to the second and final tranche offering will be subject to a statutory holdperiod ending January 26, 2024. The transaction is oversubscribed. 공지 • Aug 22
Hercules Resources Corp. Appoints Brian G Thurston to Advisory Board Hercules Resources Corp. has appointed Brian G Thurston, HBSc, PGEO, to the Advisory Board. Brian G Thurston holds an Honours Bachelor of Science degree in Geology from the University of Western Ontario. Mr. Thurston has over 31 years' experience working as a geologist around the globe including North and South America, Africa and India. He has experience working on projects from grass roots to feasibility level. Mr. Thurston was instrumental in the initial exploration, land acquisition and development of Aurelian Resources Ecuador grass roots exploration and held the position of Country Manager. Kinross in 2008 acquired Aurelian Resources in a $1.2B friendly deal. Mr. Thurston transitioned from geologist to corporate positions in 2004 and has founded several public companies and held positions of director and officer, as well as served on multiple committees including audit, disclosure, and corporate governance. Mr. Thurston was President and CEO of Lion Energy Corp. from 2007 to 2011 raising over $30M before a friendly takeover was successfully completed by Lundin's Africa Oil Corp. New Risk • Aug 13
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: -CA$347k 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 (-CA$347k free cash flow). Shares are highly illiquid. Revenue is less than US$1m. Market cap is less than US$10m (CA$3.05m market cap, or US$2.27m). Minor Risk Less than 3 years of financial data is available.