Aankondiging • May 23
Forward Water Technologies Corp Announces Patent Allowance for New Forward Osmosis Technology Forward Water Technologies Corp. had been informed by the United States Patent and Trademark Office that its patent application for a new forward osmosis technology useful in the food and beverage sector has been allowed and issuance of the patent is anticipated in the next 3-4 weeks. Forward osmosis has long been known to enable the cold concentration of food and beverage products, which can include dairy, juices, caffeinated products and alcoholic beverages such as beer and wine. The resultant concentrates are known to be superior to those made using thermal evaporation and maintain the high quality of the original liquids. The challenge has been finding pathways to ensure this is an economically viable process. Forward Water in conjunction with Queen's University in Kingston Ontario Canada, has developed a new proprietary pathway to enable a cost-effective forward osmosis method to create these enhanced concentrates that could exceed the level of concentration previously achieved by others. New Risk • Mar 09
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$1.5m 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$1.5m free cash flow). Revenue is less than US$1m (CA$57k revenue, or US$42k). Market cap is less than US$10m (CA$2.75m market cap, or US$2.02m). New Risk • Mar 03
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$1.5m 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$1.5m free cash flow). Revenue is less than US$1m (CA$57k revenue, or US$42k). Market cap is less than US$10m (CA$2.25m market cap, or US$1.65m). Board Change • Dec 31
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Mike Liik was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Nov 17
Forward Water Technologies Corp., Annual General Meeting, Jan 07, 2026 Forward Water Technologies Corp., Annual General Meeting, Jan 07, 2026. Reported Earnings • Aug 02
Full year 2025 earnings released: CA$0.019 loss per share (vs CA$0.20 loss in FY 2024) Full year 2025 results: CA$0.019 loss per share (improved from CA$0.20 loss in FY 2024). Net loss: CA$702.8k (loss narrowed 68% from FY 2024). Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 59% per year, which means it is significantly lagging earnings. Aankondiging • Jul 31
Forward Water Technologies Corp. announced that it expects to receive CAD 0.75 million in funding Forward Water Technologies Corp. announced a non-brokered private placement to issue 14% convertible debentures for gross proceeds of up to CAD 750,000 on July 31, 2025.The convertible debentures will mature on the date that is 36 months from the date of issuance and bear interest at 14% per annum, payable annually. Until the principal and all interest owing are paid, a holder shall have the option to convert the principal and all accrued interest owing pursuant to the convertible debenture into common shares of the company at a conversion price of CAD 0.07 per share during the first year of the term, and at a conversion price of CAD 0.10 thereafter, subject to customary adjustments. Certain insiders of the company intend to participate in the private placement and are expected to subscribe for at least 25% of the offering. Closing of the private placement is subject to the company obtaining all necessary corporate and regulatory approvals, including approval of the TSXV. The private placement will be conducted in reliance upon certain prospectus exemptions. Pursuant to applicable Canadian securities laws, all securities issued in connection with the private placement will be subject to a statutory hold period of four months plus a day from the date of issuance. The company may pay finders’ fees in connection with the private placement and in accordance with the policies of the TSXV. Board Change • May 15
Less than half of directors are independent There are 5 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: 1 independent director. 6 non-independent directors. Independent Director John Koehle was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Board Change • Apr 24
Less than half of directors are independent There are 5 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: 1 independent director. 6 non-independent directors. Independent Director John Koehle was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. New Risk • Mar 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. 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 Shares are highly illiquid. Negative equity (-CA$506k). Earnings have declined by 0.3% per year over the past 5 years. Shareholders have been substantially diluted in the past year (315% increase in shares outstanding). Revenue is less than US$1m (CA$77k revenue, or US$54k). Market cap is less than US$10m (CA$4.43m market cap, or US$3.10m). Minor Risk Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Board Change • Mar 17
Less than half of directors are independent There are 5 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: 1 independent director. 6 non-independent directors. Independent Director John Koehle was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Aankondiging • Dec 11
Forward Water Technologies Corp Announces Completion of First Trials for the Production of Lithium Carbonate Forward Water Technologies Corp. in conjunction with CleanTech Lithium (CTL) and Conductive Energy Inc. have completed first trials for the production of lithium carbonate from brines sourced in Chile. CTL produced lithium brine eluate from their facilities in Chile and delivered these lithium rich brines to CE's operational site in Chicago, Illinois, USA. CE and FWTC then successfully processed the eluate brine to lithium carbonate using CE's chemical conversion technology and FWTC's proprietary iFO process for high strength brine concentration. Board Change • Nov 14
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Director John Koehle was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Oct 02
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 356% 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 Shares are highly illiquid. Negative equity (-CA$506k). Earnings have declined by 0.3% per year over the past 5 years. Shareholders have been substantially diluted in the past year (356% increase in shares outstanding). Revenue is less than US$1m (CA$77k revenue, or US$57k). Market cap is less than US$10m (CA$5.90m market cap, or US$4.38m). Aankondiging • Jul 30
Forward Water Technologies Corp., Annual General Meeting, Sep 23, 2024 Forward Water Technologies Corp., Annual General Meeting, Sep 23, 2024. Reported Earnings • Jul 28
Full year 2024 earnings released: CA$0.02 loss per share (vs CA$0.022 loss in FY 2023) Full year 2024 results: CA$0.02 loss per share (improved from CA$0.022 loss in FY 2023). Net loss: CA$2.20m (loss narrowed 3.9% from FY 2023). Board Change • Jun 13
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Independent Director John Koehle is the most experienced director on the board, commencing their role in 2019. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Jun 13
Forward Water Technologies Corp. Announces Resignation of Andrew Pasternak as Board of Director Forward Water Technologies Corp. announced the resignation of Andrew Pasternak from the board of directors of the company. Mr. Pasternak has been aiding FWTC prior to its listing on the TSXV and well afterward. Aankondiging • Nov 01
Forward Water Technologies Corp. announced that it expects to receive CAD 3.326289 million in funding Forward Water Technologies Corp. announced a private placement of a minimum of 20,000,000 units a maximum of 40,000,000 units at a price of CAD 0.05 per unit and 26,525,774 units at a price of CAD 0.05 per unit as LIFE offering for the gross proceeds of CAD 1,326,288.70 for the gross proceeds of CAD 3,326,289 on October 31, 2023. Each unit will consist of one common share of the company and one share purchase warrant of the company. Each warrant will entitle the holder to purchase one share at a price of CAD 0.075 per warrant share. At the closing of the LIFE offering and concurrent private placement, the company shall pay to the agents a cash commission equal to 10.0% of the gross proceeds of the LIFE offering and concurrent private placement and will issue to the agents a number of non-transferable warrants of the company equal to 10.0% of the number of units sold under the LIFE offering and concurrent private placement. The LIFE offering and Concurrent Private Placement are scheduled to close on or around November 27, 2023. All securities issued in connection with the Concurrent Private Placement will, where applicable, be subject to a statutory hold period of four months and one day. All the securities are are subject to certain conditions including, but not limited to, receipt of all necessary approvals including satisfaction of listing conditions of the TSX Venture Exchange. Aankondiging • Oct 24
Forward Water Technologies Corp. announced that it has received CAD 0.462 million in funding On October 23, 2023, Forward Water Technologies Corp. closed the transaction. The company amended the terms of the transaction and issued 9,240,000 units at a price of CAD 0.05 per unit for the gross proceeds of CAD 462,000. Firstline Venture Partners Corporation subscribed for a total of 3,000,000 units pursuant to the offering, Lea Ray subscribed for a total of 180,000 units pursuant to the offering and Grant Thornley subscribed for a total of 60,000 units pursuant to the offering. New Risk • Oct 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.0% 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 Shares are highly illiquid. Earnings have declined by 17% per year over the past 5 years. Revenue is less than US$1m (CA$43k revenue, or US$32k). Market cap is less than US$10m (CA$5.41m market cap, or US$3.96m). Minor Risk Shareholders have been diluted in the past year (2.0% increase in shares outstanding). Aankondiging • Sep 28
Forward Water Technologies Corp. announced that it expects to receive CAD 0.5 million in funding Forward Water Technologies Corp. announced a non brokered private placement of up to 10,000,000 units at an issue price of CAD 0.05 per unit for the gross proceeds of CAD 500,000 on September 27, 2023. Each Unit will consist of one common share and one warrant each Warrant entitling the holder thereof to acquire an additional common share at an exercise price of CAD 0.075 per Warrant Share for a period of 36 months from the date of issuance. The transaction may include participation from certain insiders. The Private Placement is subject to the approval of the TSX Venture Exchange. The securities issued in connection with the Private Placement will be subject to a four month and one day hold period, in accordance with applicable securities laws. New Risk • Aug 30
New major risk - Revenue and earnings growth Earnings have declined by 17% 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$2.0m free cash flow). Shares are highly illiquid. Earnings have declined by 17% per year over the past 5 years. Revenue is less than US$1m (CA$43k revenue, or US$32k). Market cap is less than US$10m (CA$6.47m market cap, or US$4.77m). Aankondiging • Jul 26
Forward Water Technologies Corp., Annual General Meeting, Sep 21, 2023 Forward Water Technologies Corp., Annual General Meeting, Sep 21, 2023. New Risk • Jul 24
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.1% 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$2.0m free cash flow). Shares are highly illiquid. Revenue is less than US$1m (CA$40k revenue, or US$30k). Market cap is less than US$10m (CA$7.01m market cap, or US$5.30m). Minor Risk Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Board Change • Jul 10
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Jun 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • May 05
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Aankondiging • Jul 30
Forward Water Technologies Corp., Annual General Meeting, Sep 29, 2022 Forward Water Technologies Corp., Annual General Meeting, Sep 29, 2022. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Gerry Goldberg was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 02
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: CA$0.02 loss per share. Net loss: CA$1.94m (flat on 3Q 2021). Revenue was in line with analyst estimates.