Board Change • 1h
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). Independent President of the Board Giuseppe Vittorio Moneta was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Sep 29
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended June 2023. This is considered a major 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. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported June 2023 fiscal period end). Revenue has declined by 45% over the past year. Shareholders have been substantially diluted in the past year (over 46789x increase in shares outstanding). Market cap is less than US$10m (€359.9k market cap, or US$401.8k). New Risk • Apr 16
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 Share price has been highly volatile over the past 3 months (49% average weekly change). Earnings have declined by 25% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 799x increase in shares outstanding). Market cap is less than US$10m (€94.0 market cap, or US$99.9). Minor Risk Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). New Risk • Nov 22
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 Share price has been highly volatile over the past 3 months (40% average weekly change). Earnings have declined by 30% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 797x increase in shares outstanding). Market cap is less than US$10m (€113.4k market cap, or US$123.9k). Minor Risk Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). New Risk • Aug 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 142x increase in shares outstanding. This is considered a major 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 (-€212k free cash flow). Share price has been highly volatile over the past 3 months (30% average weekly change). Earnings have declined by 30% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 142x increase in shares outstanding). Market cap is less than US$10m (€717.3k market cap, or US$782.7k). Board Change • Nov 16
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 7 new directors. 1 experienced director. No highly experienced directors. 1 independent director (5 non-independent directors). MD, Legal Representative & Director Pierpaolo Marziali is the most experienced director on the board, commencing their role in 2019. Independent Director Giuseppe Vittorio Moneta was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 05
First half 2022 earnings released: EPS: €0 (vs €0.075 loss in 1H 2021) First half 2022 results: EPS: €0. Revenue: €12.1m (up 7.6% from 1H 2021). Net loss: €955.6k (loss widened 52% from 1H 2021). Price Target Changed • Apr 27
Price target decreased to €0.45 Down from €0.56, the current price target is provided by 1 analyst. New target price is 386% above last closing price of €0.092. Stock is down 79% over the past year. Board Change • Apr 27
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 7 new directors. 2 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Vice President of the Board Andrea Mastagni is the most experienced director on the board, commencing their role in 2019. Independent Director Massimiliano Rega was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 06
First half 2021 earnings released The company reported a decent first half result with reduced losses and improved control over expenses, although revenues were weaker. First half 2021 results: Revenue: €11.3m (down 21% from 1H 2020). Net loss: €630.3k (loss narrowed 48% from 1H 2020). Is New 90 Day High Low • Jan 26
New 90-day low: €0.42 The company is down 18% from its price of €0.52 on 27 October 2020. The Italian market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 6.0% over the same period. Is New 90 Day High Low • Jan 04
New 90-day low: €0.47 The company is down 30% from its price of €0.66 on 06 October 2020. The Italian market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is down 8.0% over the same period. Is New 90 Day High Low • Dec 18
New 90-day low: €0.47 The company is down 12% from its price of €0.53 on 18 September 2020. The Italian market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is down 6.0% over the same period. Is New 90 Day High Low • Nov 24
New 90-day low: €0.47 The company is down 17% from its price of €0.56 on 26 August 2020. The Italian market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 6.0% over the same period. Reported Earnings • Oct 06
First half earnings released Over the last 12 months the company has reported total losses of €2.63m, with losses widening by 52% from the prior year. Total revenue was €29.6m over the last 12 months, up 5.2% from the prior year. Is New 90 Day High Low • Sep 30
New 90-day high: €0.68 The company is up 14% from its price of €0.60 on 02 July 2020. The Italian market is down 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Consumer Durables industry, which is up 20% over the same period.