공시 • Oct 08
Listing of ARHT Media's Shares to Transfer from Tier 2 to NEX, Effective October 9, 2024 Effective at opening on October 9, 2024, trading in the shares of the ARHT Media Inc. will be suspended for failure to maintain Exchange requirements. In accordance with TSX Venture Policy 2.5, the Company has not maintained the requirements for a TSX Venture Tier 2 company. Therefore, effective at the opening on October 9, 2024, the Company's listing will transfer to NEX, the Company's Tier classification will change from Tier 2 to NEX, and the Filing and Service Office will change from Vancouver to NEX. As of October 9, 2024, the Company is subject to restrictions on share issuance and certain types of payments as set out in NEX policies. The trading symbol for the Company will change from ART to ART.H. There is no change in the Company name, no change in its CUSIP number and no consolidation of capital. The symbol extension differentiates NEX symbols from Tier 1 or Tier 2 symbols within the TSX Venture market. New Risk • Sep 10
New major risk - Revenue and earnings growth Earnings have declined by 29% per year over the past 5 years. 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 profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings 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 Less than 1 year of cash runway based on free cash flow trend (-CA$3.6m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Negative equity (-CA$5.0m). Earnings have declined by 29% per year over the past 5 years. Market cap is less than US$10m (€1.98m market cap, or US$2.18m). Minor Risks Shareholders have been diluted in the past year (2.5% increase in shares outstanding). Revenue is less than US$5m (CA$4.6m revenue, or US$3.4m). Reported Earnings • Aug 30
Second quarter 2024 earnings released: CA$0.007 loss per share (vs CA$0.011 loss in 2Q 2023) Second quarter 2024 results: CA$0.007 loss per share (improved from CA$0.011 loss in 2Q 2023). Revenue: CA$1.41m (down 32% from 2Q 2023). Net loss: CA$1.44m (loss narrowed 31% from 2Q 2023). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in Germany. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 43% per year, which means it is performing significantly worse than earnings. New Risk • Jul 26
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 Share price has been highly volatile over the past 3 months (26% average weekly change). Negative equity (-CA$3.8m). Market cap is less than US$10m (€7.89m market cap, or US$8.57m). Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$5.3m net loss next year). Shareholders have been diluted in the past year (2.6% increase in shares outstanding). Revenue is less than US$5m (CA$5.2m revenue, or US$3.8m). 공시 • Jun 18
ARHT Media Inc. announced that it has received CAD 1 million in funding On June 17, 2024, ARHT Media Inc. closed the transaction. The company has received CAD 175,000 in its second tranche, bringing the funds raised in the transaction to CAD 1,000,000. The company has paid CAD 3,750 in cash as finders' fees to finders in accordance with TSX Venture Exchange policies. New Risk • Jun 15
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$4.0m 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$4.0m free cash flow). Share price has been highly volatile over the past 3 months (28% average weekly change). Negative equity (-CA$3.8m). Market cap is less than US$10m (€8.59m market cap, or US$9.20m). Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$5.3m net loss next year). Revenue is less than US$5m (CA$5.2m revenue, or US$3.8m). 