New Risk • Aug 11
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 30% 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 (-zł128k free cash flow). Earnings have declined by 54% per year over the past 5 years. Shareholders have been substantially diluted in the past year (30% increase in shares outstanding). Revenue is less than US$1m (zł50k revenue, or US$13k). Market cap is less than US$10m (zł5.93m market cap, or US$1.59m). Minor Risk Share price has been volatile over the past 3 months (9.8% average weekly change). 공고 • Jun 09
Foothills S.A., Annual General Meeting, Jun 30, 2026 Foothills S.A., Annual General Meeting, Jun 30, 2026. 공고 • Nov 10
Foothills S.A. to Report Q3, 2025 Results on Nov 12, 2025 Foothills S.A. announced that they will report Q3, 2025 results on Nov 12, 2025 New Risk • Aug 14
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 Polish stocks, typically moving 10% 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 Less than 1 year of cash runway based on free cash flow trend (-zł132k free cash flow). Share price has been highly volatile over the past 3 months (10% average weekly change). Negative equity (-zł348k). Earnings have declined by 31% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (zł4.30m market cap, or US$1.18m). 공고 • Apr 11
Foothills S.A., Annual General Meeting, May 08, 2025 Foothills S.A., Annual General Meeting, May 08, 2025. New Risk • Aug 14
New major risk - Revenue and earnings growth Earnings have declined by 8.4% 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 (-zł87k free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Negative equity (-zł263k). Earnings have declined by 8.4% per year over the past 5 years. Revenue is less than US$1m (zł500 revenue, or US$128). Market cap is less than US$10m (zł1.87m market cap, or US$479.9k). New Risk • Nov 22
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 Polish stocks, typically moving 8.4% 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 Risks Negative equity (-zł170k). Revenue is less than US$1m (zł1.5k revenue, or US$379). Market cap is less than US$10m (zł4.96m market cap, or US$1.24m). Minor Risk Share price has been volatile over the past 3 months (8.4% average weekly change). New Risk • Jul 12
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 Polish stocks, typically moving 7.4% 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 Risks Negative equity (-zł135k). Revenue is less than US$1m (zł517 revenue, or US$128). Market cap is less than US$10m (zł3.56m market cap, or US$881.3k). Minor Risk Share price has been volatile over the past 3 months (7.4% average weekly change). 공고 • Jun 02
Foothills S.A., Annual General Meeting, Jun 28, 2023 Foothills S.A., Annual General Meeting, Jun 28, 2023, at 13:00 Central European Standard Time. 공고 • Jun 02
Optizen Labs S.A., Annual General Meeting, Jun 27, 2022 Optizen Labs S.A., Annual General Meeting, Jun 27, 2022, at 15:00 Central European Standard Time. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorated over the past week After last week's 29% share price decline to zł1.20, the stock trades at a trailing P/E ratio of 54.2x. Average trailing P/E is 17x in the IT industry in Poland. Total returns to shareholders of 532% over the past three years. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorated over the past week After last week's 17% share price decline to zł1.70, the stock trades at a trailing P/E ratio of 76.7x. Average trailing P/E is 15x in the IT industry in Poland. Total returns to shareholders of 795% over the past three years. Reported Earnings • Nov 18
Third quarter 2021 earnings released The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: zł115.0k (down 25% from 3Q 2020). Net loss: zł55.0k (loss widened 139% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has increased by 172% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 19
Second quarter 2021 earnings released The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: zł122.0k (down 25% from 2Q 2020). Net loss: zł4.0k (down 167% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has increased by 127% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Mar 03
New 90-day high: zł1.75 The company is up 18% from its price of zł1.48 on 03 December 2020. The Polish market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 8.0% over the same period. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improved over the past week After last week's 17% share price gain to zł1.52, the stock is trading at a trailing P/E ratio of 66.5x, up from the previous P/E ratio of 56.9x. This compares to an average P/E of 17x in the IT industry in Poland. Total returns to shareholders over the past three years are 1,167%. Is New 90 Day High Low • Feb 01
New 90-day low: zł1.04 The company is down 13% from its price of zł1.20 on 03 November 2020. The Polish market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 4.0% over the same period. Is New 90 Day High Low • Dec 28
New 90-day low: zł1.18 The company is down 2.0% from its price of zł1.20 on 29 September 2020. The Polish market is up 10.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the IT industry, which is down 7.0% over the same period. Is New 90 Day High Low • Sep 28
New 90-day high: zł0.98 The company is up 77% from its price of zł0.56 on 30 June 2020. The Polish market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 5.0% over the same period.