New Risk • Feb 25
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: AU$1.4m (US$987k) This is considered a major risk. Companies with a small amount of revenue 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 Earnings have declined by 30% per year over the past 5 years. Revenue is less than US$1m (AU$1.4m revenue, or US$987k). Minor Risk Market cap is less than US$100m (AU$44.8m market cap, or US$31.8m). Announcement • Oct 17
Thorney Technologies Ltd, Annual General Meeting, Nov 17, 2025 Thorney Technologies Ltd, Annual General Meeting, Nov 17, 2025. Announcement • Jun 28
OSL Group Limited (SEHK:863) entered into arrangement agreement to acquire Banxa Holdings Inc. (TSXV:BNXA) from Carosa Corporation B.V., Dominet Digital Investments Pty Ltd, Thorney Omega Pty Ltd ,Thorney Technologies Ltd and others for $81.7 million. OSL Group Limited (SEHK:863) entered into arrangement agreement to acquire Banxa Holdings Inc. (TSXV:BNXA) from Carosa Corporation B.V., Dominet Digital Investments Pty Ltd, Thorney Omega Pty Ltd ,Thorney Technologies Ltd and others for $81.7 million on June 27, 2025. A cash consideration of CAD 1.6 million and of CAD 1.9 million will be paid by OSL Group Limited. As part of consideration, CAD 81.7 million is paid towards common equity, CAD 1.9 million is paid towards options and CAD 1.6 million is paid towards warrants of Banxa Holdings Inc. In case of termination of transaction, OSL Group Limited will pay a termination fee of CAD 4.25 million and NGC Ventures, Thorney Investment Group Australia Pty. Ltd., Dominet Digital Corporation Pty. Ltd., Tembusu Partners Pte Ltd., Carosa Corporation B.V., Dominet Digital Investments Pty Ltd., Thorney Omega Pty Ltd and Thorney Technologies Ltd will pay a termination fee of CAD 4.25 million.
The transaction is subject to approval by regulatory board / committee and subject to shareholder approval.
Architect Partners acted as financial advisor for Banxa Holdings Inc. Evans & Evans, Inc. acted as financial advisor for Banxa Holdings Inc. Cassels Brock & Blackwell LLP acted as legal advisor for Banxa Holdings Inc. Kirkland & Ellis acted as legal advisor for Banxa Holdings Inc. Stikeman Elliott LLP acted as legal advisor for OSL Group Limited. Han Kun Law Offices LLP acted as legal advisor for OSL Group Limited. 
