Announcement • Aug 21
Illumisoft Lighting Corp. Announces CEO Changes Illumisoft Lighting Corp. announced that Ehsan Agahi, currently Executive Chairman of the Company, has been appointed Chief Executive Officer, effective August 19, 2026. Mr. Agahi will continue to serve as Chairman of the Board. As Executive Chairman since the completion of the Company's qualifying transaction, Mr. Agahi has been closely involved in Illumisoft's strategic direction, corporate strategy, financing, technology development, partnerships, business development and commercialization. His appointment as CEO expands that role, with Mr. Agahi assuming direct responsibility for the Company's operating priorities and execution strategy while continuing to lead the Board as Chairman. As part of the change, Brett Nicholds will move from Chief Executive Officer to Senior Strategic Advisor, where he will continue to provide strategic guidance and support key Company initiatives. Mr. Nicholds remains a director of the Company. Illumisoft thanks Mr. Nicholds for his leadership and contributions to the Company as CEO and looks forward to his continued involvement as the Company advances its technology development and commercialization programs. New Risk • Jun 23
New major risk - Negative shareholders equity The company has negative equity. Total equity: -CA$349k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. 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$618k free cash flow). Share price has been highly volatile over the past 3 months (23% average weekly change). Negative equity (-CA$349k). Revenue is less than US$1m (CA$711k revenue, or US$501k). Minor Risks Less than 3 years of financial data is available. Market cap is less than US$100m (CA$39.2m market cap, or US$27.6m). 
