Board Change • Mar 26
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Non-Executive Director Qinglong Zeng 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. Insufficient board refreshment. Announcement • Mar 11
Mindax Limited has completed a Follow-on Equity Offering in the amount of AUD 0.13 million. Mindax Limited has completed a Follow-on Equity Offering in the amount of AUD 0.13 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 4,333,333
Price\Range: AUD 0.03
Transaction Features: Subsequent Direct Listing Announcement • Mar 10
Mindax Limited has filed a Follow-on Equity Offering in the amount of AUD 0.13 million. Mindax Limited has filed a Follow-on Equity Offering in the amount of AUD 0.13 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 4,333,333
Price\Range: AUD 0.03
Transaction Features: Subsequent Direct Listing New Risk • Mar 03
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 Australian stocks, typically moving 13% 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 Earnings have declined by 34% per year over the past 5 years. Revenue is less than US$1m (AU$1.1k revenue, or US$773). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (AU$82.6m market cap, or US$58.0m). Announcement • Feb 11
Mindax Limited has completed a Follow-on Equity Offering in the amount of AUD 0.1 million. Mindax Limited has completed a Follow-on Equity Offering in the amount of AUD 0.1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,702,703
Price\Range: AUD 0.037
Transaction Features: Subsequent Direct Listing Announcement • Feb 10
Mindax Limited has filed a Follow-on Equity Offering in the amount of AUD 0.1 million. Mindax Limited has filed a Follow-on Equity Offering in the amount of AUD 0.1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,702,703
Price\Range: AUD 0.037
Transaction Features: Subsequent Direct Listing New Risk • Dec 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% 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 Earnings have declined by 34% per year over the past 5 years. Revenue is less than US$1m (AU$1.1k revenue, or US$739). Minor Risks Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (AU$106.0m market cap, or US$71.2m). Announcement • Dec 13
Mindax Limited has filed a Follow-on Equity Offering in the amount of AUD 0.1 million. Mindax Limited has filed a Follow-on Equity Offering in the amount of AUD 0.1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,631,579
Price\Range: AUD 0.038
Transaction Features: Subsequent Direct Listing Announcement • Nov 27
Mindax Limited has filed a Follow-on Equity Offering in the amount of AUD 0.2 million. Mindax Limited has filed a Follow-on Equity Offering in the amount of AUD 0.2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 4,878,049
Price\Range: AUD 0.041
Transaction Features: Subsequent Direct Listing New Risk • Sep 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 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 Earnings have declined by 24% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Market cap is less than US$100m (AU$124.5m market cap, or US$82.2m). Announcement • Sep 27
Mindax Limited, Annual General Meeting, Nov 14, 2025 Mindax Limited, Annual General Meeting, Nov 14, 2025. Announcement • Jul 10
Mindax Limited has filed a Follow-on Equity Offering in the amount of AUD 1.59961 million. Mindax Limited has filed a Follow-on Equity Offering in the amount of AUD 1.59961 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 12,440,299
Price\Range: AUD 0.0482
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 20,894,022
Price\Range: AUD 0.04786
Transaction Features: Subsequent Direct Listing New Risk • May 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$153.7m (US$99.0m) This is considered a minor risk. Companies with a small market capitalization 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 24% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$153.7m market cap, or US$99.0m). Reported Earnings • Mar 19
First half 2025 earnings released: EPS: AU$0 (vs AU$0.001 loss in 1H 2024) First half 2025 results: EPS: AU$0 (improved from AU$0.001 loss in 1H 2024). Net loss: AU$1.01m (loss narrowed 20% from 1H 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Announcement • Mar 05
Mindax Limited has filed a Follow-on Equity Offering in the amount of AUD 0.3 million. Mindax Limited has filed a Follow-on Equity Offering in the amount of AUD 0.3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,941,176
Price\Range: AUD 0.034
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 6,060,606
Price\Range: AUD 0.033
Transaction Features: Subsequent Direct Listing Board Change • Feb 19
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Non-Executive Director Qinglong Zeng 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. Insufficient board refreshment. New Risk • Dec 04
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 Australian stocks, typically moving 12% 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 Less than 1 year of cash runway based on free cash flow trend (-AU$4.4m free cash flow). Earnings have declined by 13% per year over the past 5 years. Revenue is less than US$1m (AU$3.0k revenue, or US$1.9k). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Significant insider selling over the past 3 months (AU$7.6m sold). Market cap is less than US$100m (AU$86.0m market cap, or US$55.2m). Announcement • Oct 03
Mindax Limited, Annual General Meeting, Nov 21, 2024 Mindax Limited, Annual General Meeting, Nov 21, 2024. New Risk • Sep 27
New major risk - Revenue and earnings growth Earnings have declined by 13% 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 (-AU$1.8m free cash flow). Earnings have declined by 13% per year over the past 5 years. Revenue is less than US$1m (AU$37k revenue, or US$25k). Minor Risk Market cap is less than US$100m (AU$96.3m market cap, or US$66.2m). Reported Earnings • Sep 27
Full year 2024 earnings released: AU$0.001 loss per share (vs AU$0.003 loss in FY 2023) Full year 2024 results: AU$0.001 loss per share (improved from AU$0.003 loss in FY 2023). Net loss: AU$2.28m (loss narrowed 59% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 13
First half 2024 earnings released: AU$0.001 loss per share (vs AU$0.001 loss in 1H 2023) First half 2024 results: AU$0.001 loss per share (in line with 1H 2023). Net loss: AU$1.26m (loss narrowed 21% from 1H 2023). New Risk • Oct 17
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 Australian stocks, typically moving 12% 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 Risk Revenue is less than US$1m (AU$2.0 revenue, or US$1.0). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (4.5% increase in shares outstanding). Market cap is less than US$100m (AU$114.6m market cap, or US$72.7m). Announcement • Sep 27
Mindax Limited, Annual General Meeting, Nov 16, 2023 Mindax Limited, Annual General Meeting, Nov 16, 2023. Agenda: To consider the re-election and appointment of directors. Board Change • Mar 06
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. 2 non-independent directors. Independent Non-Executive Director Qinglong Zeng 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.