New Risk • May 05
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shares are highly illiquid. Negative equity (-US$569k). Shareholders have been substantially diluted in the past year (198% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$3.24m market cap, or US$2.38m). New Risk • Feb 20
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 198% 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 (-US$2.1m). Earnings have declined by 7.9% per year over the past 5 years. Shareholders have been substantially diluted in the past year (198% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$3.24m market cap, or US$2.37m). Announcement • Feb 20
Plantify Foods, Inc. announced that it has received CAD 1.764 million in funding from N2OFF, Inc. On February 18, 2026, the Plantify Foods, Inc. closed the transaction. In connection with the Private Placement, the Company will pay,upon receipt of TSXV acceptance, a finder’s fee of 2,450,000 Shares and CAD 145,530 cash to Amir Uziel Economic Consultant Ltd. All securities issued in connection with the Private Placement are subject to a four-month hold period. Transaction involves participation of N2OFF Inc as an investor. 
