공시 • Mar 28
Legible Inc. announced that it expects to receive CAD 4 million in funding Legible Inc. announced a non-brokered private placement of 133,333,333 units at a price of CAD 0.03 per unit for the gross proceeds of CAD 3,999,999.99 on March 27, 2025. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional Common Share at an exercise price of CAD 0.05. The offering is expected to have a first close on or about April 3, 2025, subject to customary closing conditions, and may be completed in tranches. A finder’s fee of up to 8% in cash may be paid on all or a portion of the Offering. In addition, the Company may issue finders’ warrants equal to up to 8% of the number of units sold, with each finder’s warrant exercisable at $0.05 for two years, subject to the same acceleration terms noted above. Board Change • Dec 30
No independent directors There are 4 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: 4 new directors. 5 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Director Shannon Klaustinen is the most experienced director on the board, commencing their role in 2022. 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 • Oct 28
Legible Releases FrankensteinAI with Spellbinding AI Chat Feature Legible announced the release of FrankensteinAI, the third in its groundbreaking AI Classics series. This innovative "Living Book" seamlessly blends Mary Shelley’s iconic novel with state-of-the-art technology, offering readers an unparalleled interactive experience. The classic horror tale releases in three volumes beginning October 28th. FrankensteinAI breathes new life into Shelley's masterpiece through stunning interactive artwork by renowned
digital artist Mr. Remo Camerota. Each animated illustration is a dynamic fusion of Camerota’s vivid imagination and advanced AI technology, capturing the eerie atmosphere of Victor Frankenstein's creation and enhancing the storytelling in a visually captivating manner. Mr. Camerota’s collaboration with AI technology results in visuals that not only complement but also elevate the storytelling, making every image an integral part of the narrative journey. FrankensteinAI also introduces a revolutionary AI chat feature that allows readers to engage in real-time conversations with the novel’s characters. Victor Frankenstein and his Creature serve as AI-driven guides, enabling readers to delve deeper into their fears, desires, and motivations as they explore the narrative. This unique interactive feature allows readers to ask questions, unravel plot intricacies, and explore themes in a way that traditional reading cannot, blending classic literature with modern technology for a uniquely immersive experience. In addition to FrankensteinAI, Legible’s other AI Classics and groundbreaking original publications, such as the My Model Kitchen Living Cookbooks by former supermodel and NYT-bestselling author Ms. Cristina Ferrare, with their embedded Sous Chef AI, are exclusively available to Legible Unbound members. Join now and gain access to these innovations plus millions of eBooks and audiobooks for only US$9.99 per month, unlocking a new world of enriched reading experiences. Reported Earnings • Sep 01
Second quarter 2024 earnings released: CA$0.007 loss per share (vs CA$0.007 loss in 2Q 2023) Second quarter 2024 results: CA$0.007 loss per share (in line with 2Q 2023). Revenue: CA$9.2k (down 50% from 2Q 2023). Net loss: CA$952.7k (loss widened 42% from 2Q 2023). 공시 • Jul 17
Legible Inc. announced that it has received CAD 1.05 million in funding On July, 16, 2024, Legible Inc. closed the transaction. Jaret Wilson subscribed for 90 convertible debentures of a principal amount of CAD 630,000 convertible into 9,000,000 common shares of the company at a deemed price of CAD 0.07 per Common Share and 9,000,000 Common Share purchase warrants entitling the investor to acquire 9,000,00 Common Shares at CAD 0.08 per Common Share for a period of 2 years. Immediately prior to July 16, 2024, the investor held 2,083,333 Common Shares, 8,083,333 whole Common Share purchase warrants and debentures convertible into 6,000,000 Common Shares equal to 1.56% of the issued and outstanding Common Shares on an un-diluted basis and 10.96% of the outstanding Common Shares on a partially diluted basis. After July 16, 2024, the investor has 2,083,333 Common Shares, 17,083,333 whole Common Share purchase warrants and debentures convertible into 15,000,000 Common Shares equal to 1.56% of the issued and outstanding Common Shares on an un-diluted basis and 20.65% of the outstanding Common Shares on a partially diluted basis. All securities issued in connection with the Offering are subject to a hold period that expires on November 17, 2024. There were no finders fees paid with respect to the closing of the Private Placement. Reported Earnings • Jun 04
First quarter 2024 earnings released: CA$0.008 loss per share (vs CA$0.014 loss in 1Q 2023) First quarter 2024 results: CA$0.008 loss per share (improved from CA$0.014 loss in 1Q 2023). Revenue: CA$19.9k (up 89% from 1Q 2023). Net loss: CA$1.10m (loss narrowed 9.5% from 1Q 2023). Reported Earnings • Apr 30
Full year 2023 earnings released: CA$0.044 loss per share (vs CA$0.13 loss in FY 2022) Full year 2023 results: CA$0.044 loss per share (improved from CA$0.13 loss in FY 2022). Revenue: CA$53.4k (up 159% from FY 2022). Net loss: CA$4.80m (loss narrowed 45% from FY 2022). 공시 • Apr 07
Legible Inc. announced that it expects to receive CAD 1.17 million in funding Legible Inc. announced a private placement of convertible debenture units at a price of CAD 0.09 per unit for the gross proceeds of CAD 1,170,000 on April 6, 2024. Each debenture unit consists of a 14% unsecured convertible debenture of the company in the principal amount of CAD 9,000; and 100,000 common share purchase warrants. The debentures mature on the date that is two years following the closing and are convertible at the holder's option into common shares of the company at a conversion price of CAD 0.09 per common share. The debentures bear simple interest at a rate of fourteen percent (14%) per annum, payable quarterly in arrears. The holders of debentures shall be entitled to convert the principal amount, in whole or in part, at any time after the date that is four months and one day following the closing date, into common shares at a conversion price of CAD 0.09 per common share. Each warrant entitles the holder to purchase one common share at a price of CAD 0.10 for a period of two years from closing, provided that if, at any time, after the date that is four months and one day following the closing, New Risk • Mar 26
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.15m (US$8.85m) 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 Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Negative equity (-CA$2.4m). Revenue is less than US$1m (CA$46k revenue, or US$34k). Market cap is less than US$10m (€8.15m market cap, or US$8.85m). Minor Risk Shareholders have been diluted in the past year (48% increase in shares outstanding). 공시 • Jan 27
Legible Launches AI-Powered Version of Animal Farm by George Orwell Legible Inc. announced the launch of Animal Farm AI, the latest in its series of interactive classic novels. This innovative release marks a new era in reading, offering Legible readers the extraordinary opportunity to engage in dialogue with the book, elevating both educational and entertainment values. As readers traverse the narrative of Animal Farm AI, they encounter strategically placed interactive AI elements, prompting in-depth discussions about the story's pivotal events and underlying themes. This feature connects Orwell's renowned dystopian novel with both its historical context and enduring relevance. Legible's AI-powered Classics series is available on iOS and Android and is currently offered exclusively to members of Legible "Unbound", Legible's monthly membership service. Legible Unbound delivers a vast selection of eBooks and audiobooks as a bundled service, with a growing catalog comprised of millions of titles. The "AI Classics" series debuted in December 2023 with A Christmas Carol AI, to glowing reviews. Legible is scheduling monthly releases of "AI Classics" eBooks to Unbound members. Highlights of the Animal Farm AI experience include: Conversational Characters: Real-time dialogues with characters within the eBook, offering fresh perspectives on the narrative and multifaceted character development. Plot Discussions: Delve deeper into the plot by discussing pivotal events, character motivations, and thematic elements, enriching understanding and appreciation. Interactive Learning: Ideal for education, the interactive AI-powered eBooks allow questions about literary themes, historical context, and symbolism, catering to students, multilingual audiences, and lifelong learners. Exclusive Access: Exclusively available to Legible customers, the AI-powered book series is part of the Legible Unbound membership, providing unlimited access to a diverse library of eBooks and audiobooks for a low monthly fee. Original Artwork: Each book in the series features original artwork produced by a professional artist in collaboration with AI, reflecting the style and colors of its period, and accompanied by a creative statement from the artist. Experience the future of reading by subscribing to Legible Unbound at legible.com. Download the Legible app to access this original content and extensive collection of eBooks and audiobooks from any smart device worldwide. Reported Earnings • Nov 28
Third quarter 2023 earnings released: CA$0.013 loss per share (vs CA$0.035 loss in 3Q 2022) Third quarter 2023 results: CA$0.013 loss per share (improved from CA$0.035 loss in 3Q 2022). Revenue: CA$10.4k (down 11% from 3Q 2022). Net loss: CA$1.59m (loss narrowed 33% from 3Q 2022). 공시 • Oct 07
Legible Inc. announced that it expects to receive CAD 1 million in funding Legible Inc. announced a non-brokered private placement of units at a price of CAD 0.12 per unit for the gross proceeds of CAD 1 million on October 6, 2023. Each unit will consist of one common share of the company and one common share purchase warrant, with each warrant entitling the holder to purchase one additional common share at a price of CAD 0.15 on the date that is one year from the closing date. The transaction is expected to on or about October 16, 2023, subject to customary closing conditions and may be closed in tranches. As a part of the transaction the company will pay a finder’s fee of up to 8% of the gross proceeds of the offering and finder’s warrants may be issued in an amount up to 8% of the number of common shares sold under the offering. 공시 • Sep 15
Legible Inc. to Launch 'Unbound' Membership Service Legible Inc. announced a series of transformative product launches set for September 29th. The launch will consolidate the Company's position as a leader in digital reading and publishing as Legible executes on its strategic plan to generate and scale monthly recurring revenue along with a-la-carte sales of eBooks and audiobooks. Legible Unbound Membership Plan: At a competitive monthly fee of $12.99, Legible Unbound represents a strategic entry into the subscription-based digital content market. Unlimited Access: Members will have unlimited access to the latest and best in published and recorded content via an extensive curated catalogue of audiobooks and eBooks. AI & Multimedia Content: Legible's Unbound membership service will include access to brand-new digital reading entertainment products featuring enriched multimedia content and interactive AI within new eBooks published exclusively by Legible. Stan Lee Comics: Unbound members will also be offered preferred access to upcoming enriched multimedia comics, based on never-before-seen Stan Lee characters, to which Legible has world-wide exclusive print and digital publishing and distribution rights. Personalized Experience: Legible Unbound offers attractive perks for the modern reader, including offline reading, the ability to create bookshelves of favourite books, post reviews, and receive monthly tokens for premium content access. The Legible Mobile App: Legible will also be launching the Company's Mobile App designed to cater to reader needs and preferences and complement its new Unbound membership service. Always Connected: The Legible App will ensure that users always have access to great reading entertainment, whether online browsing the catalogue, or offline revisiting a favorite book. A Library in Your Pocket: The power of the Legible platform is condensed into the App, giving users consistent mobile access to everything from age-old classics that have shaped literary history to the latest bestsellers and exclusive content. L library in Your Pocket: The App features Legible's proprietary AI-powered book recommendation engine, the L libraryAI, which offers personalized suggestions based on user reading habits, preferences, and provides links to eBooks and audiobooks for instant access on Legible. User-centric Design and Features: The App's design prioritizes user experience, with fun features such as easy-to-make personalized bookshelves and the ability to categorize, rate, and review books. Enhanced Accessibility: Recognizing the diverse needs of readers, the App is equipped with an array of accessibility features. Its additional car mode ensures that audiobook enthusiasts can safely enjoy listening on the move. Frictionless Access and Purchasing: Whether users want to buy a new release or use their monthly membership tokens for premium catalog access, the process is straightforward, accessible, and user-friendly. Reported Earnings • Aug 30
Second quarter 2023 earnings released: CA$0.007 loss per share (vs CA$0.039 loss in 2Q 2022) Second quarter 2023 results: CA$0.007 loss per share (improved from CA$0.039 loss in 2Q 2022). Revenue: CA$18.4k (up CA$17.7k from 2Q 2022). Net loss: CA$670.3k (loss narrowed 73% from 2Q 2022). Board Change • Jul 26
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. 5 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Director Shannon Kaustinen is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors.