Announcement • May 17
BikeExchange Intends to Proceed with its Removal from the Official List of Australian Securities Exchange at the Close of Trade on May 29, 2024 Further to ASX (Australian Securities Exchange) announcements on 28 February 2024, 15 March 2024, and 24 April 2024, BikeExchange Limited (BikeExchange or the Company) advised that the resolution for the company’s delisting was passed as a special resolution on 24 April 2024. Accordingly, the Company intends to proceed with its removal from the Official List of ASX at the close of trade on 29 May 2024. It is expected that trading in the Company’s Shares will be suspended from the close of trading on 24 May 2024. If Shareholders wish to sell their securities on ASX, they will need to do so before the Company is removed from the Official List. Following the delisting the Company’s Shares will only be capable of sale via off -market private transactions. The Company intends to engage a third-party private share trading platform service to facilitate periodic off-market sale and purchase of Shares by matching buyers and sellers who register their interest on the platform. However, there is no assurance that there will be sufficient liquidity on any such private share trading platform to allow Shareholders to sell their Shares. New Risk • May 06
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 14% 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 Negative equity (-AU$745k). Earnings have declined by 17% per year over the past 5 years. Shareholders have been substantially diluted in the past year (70% increase in shares outstanding). Market cap is less than US$10m (AU$5.72m market cap, or US$3.79m). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Announcement • Apr 10
BikeExchange Limited to Report Q3, 2024 Results on Apr 30, 2024 BikeExchange Limited announced that they will report Q3, 2024 results on Apr 30, 2024 Announcement • Mar 15
BikeExchange Limited, Annual General Meeting, Apr 24, 2024 BikeExchange Limited, Annual General Meeting, Apr 24, 2024. Announcement • Mar 01
BikeExchange Limited has filed a Follow-on Equity Offering in the amount of AUD 3.174677 million. BikeExchange Limited has filed a Follow-on Equity Offering in the amount of AUD 3.174677 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,741,825
Price\Range: AUD 0.5
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,354,787
Price\Range: AUD 0.5
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,252,740
Price\Range: AUD 0.5
Transaction Features: Rights Offering; Subsequent Direct Listing New Risk • Mar 01
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: -AU$8.9m 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 (-AU$8.9m free cash flow). Negative equity (-AU$1.6m). Earnings have declined by 43% per year over the past 5 years. Shareholders have been substantially diluted in the past year (61% increase in shares outstanding). Market cap is less than US$10m (AU$8.69m market cap, or US$5.66m). Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Revenue is less than US$5m (AU$6.4m revenue, or US$4.2m). Reported Earnings • Feb 29
First half 2024 earnings released: AU$0.001 loss per share (vs AU$1.70 loss in 1H 2023) First half 2024 results: AU$0.001 loss per share (improved from AU$1.70 loss in 1H 2023). Revenue: AU$4.32m (flat on 1H 2023). Net loss: AU$1.81m (loss narrowed 85% from 1H 2023). Announcement • Feb 15
BikeExchange Limited to Report First Half, 2024 Results on Feb 28, 2024 BikeExchange Limited announced that they will report first half, 2024 results on Feb 28, 2024 Announcement • Jan 18
BikeExchange Limited to Report Q2, 2024 Results on Jan 31, 2024 BikeExchange Limited announced that they will report Q2, 2024 results on Jan 31, 2024 Announcement • Oct 27
BikeExchange Limited, Annual General Meeting, Nov 28, 2023 BikeExchange Limited, Annual General Meeting, Nov 28, 2023, at 10:00 AUS Eastern Standard Time. Agenda: To consider Adoption of Remuneration Report; to consider Re-election of Andrew Ryan as Director; to consider Ratification of Prior Issue of Fully Paid Ordinary Shares under Placement; to consider Approval of Issue of Fully Paid Ordinary Shares to GTR Ventures Pty Ltd, an entity controlled by a related party of the Company; to consider of Issue of Fully Paid Ordinary Shares to Dominic O'Hanlon, Director of the Company; to consider other business matters. Announcement • Oct 19
BikeExchange Limited to Report Q1, 2024 Results on Oct 30, 2023 BikeExchange Limited announced that they will report Q1, 2024 results on Oct 30, 2023 Reported Earnings • Sep 01
Full year 2023 earnings released: AU$0.008 loss per share (vs AU$0.048 loss in FY 2022) Full year 2023 results: AU$0.008 loss per share (improved from AU$0.048 loss in FY 2022). Revenue: AU$6.72m (up 2.2% from FY 2022). Net loss: AU$7.04m (loss narrowed 51% from FY 2022). New Risk • Aug 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 2022. 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 Less than 1 year of cash runway based on free cash flow trend (-AU$13m free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Earnings have declined by 60% per year over the past 5 years. Shareholders have been substantially diluted in the past year (87% increase in shares outstanding). Market cap is less than US$10m (AU$9.50m market cap, or US$6.17m). Minor Risk Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Announcement • Aug 30
BikeExchange Limited to Report Fiscal Year 2023 Results on Aug 31, 2023 BikeExchange Limited announced that they will report fiscal year 2023 results on Aug 31, 2023 Announcement • Jul 23
BikeExchange Limited has completed a Follow-on Equity Offering in the amount of AUD 2.3 million. BikeExchange Limited has completed a Follow-on Equity Offering in the amount of AUD 2.3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 188,888,886
Price\Range: AUD 0.009
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 66,666,666
Price\Range: AUD 0.009
Transaction Features: Subsequent Direct Listing Announcement • Jul 21
BikeExchange Limited to Report Q4, 2023 Results on Jul 28, 2023 BikeExchange Limited announced that they will report Q4, 2023 results on Jul 28, 2023 Announcement • May 19
BikeExchange Limited Announces Board Changes BikeExchange Limited announced that in accordance with ASX Listing Rule 3.16.1, Sam Salter has notified the Company of his resignation as an Executive Director of the Company and will be stepping down from the Board, effective 31 May 2023. Further, Ms Shelby Coleman has advised of her resignation as the Joint Company Secretary of the Company, effective 31 May 2023. Ms Pia Rasal will continue to serve as the Company Secretary. For the purpose of ASX Listing Rule 12.6, Ms Rasal will be the person responsible for communications between the Company and ASX. Recent Insider Transactions • Mar 09
Independent Non-Executive Director recently bought AU$69k worth of stock On the 6th of March, Dominic O'Hanlon bought around 5m shares on-market at roughly AU$0.014 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$98k more in shares than they have sold in the last 12 months. Reported Earnings • Mar 03
First half 2023 earnings released: AU$0.017 loss per share (vs AU$0.022 loss in 1H 2022) First half 2023 results: AU$0.017 loss per share. Revenue: AU$4.53m (up 84% from 1H 2022). Net loss: AU$11.8m (loss widened 81% from 1H 2022). Announcement • Feb 17
BikeExchange Limited to Report Q2, 2023 Results on Feb 28, 2023 BikeExchange Limited announced that they will report Q2, 2023 results on Feb 28, 2023 Announcement • Jan 17
BikeExchange Limited to Report Q2, 2023 Results on Jan 31, 2023 BikeExchange Limited announced that they will report Q2, 2023 results on Jan 31, 2023 Announcement • Nov 18
BikeExchange Limited Appoints Priyamvada (Pia) Rasal as Joint Company Secretary BikeExchange Limited announced that, in accordance with ASX Listing Rule 3.16.1, Ms. Priyamvada (Pia) Rasal from Automic Group has been appointed as joint company secretary, effective immediately. Over 12 years Pia has managed a portfolio of private companies, ASX listed entities and non-profit organizations in governance, corporate secretarial and legal roles. Ms Maggie Niewidok has advised of her resignation from Automic, and will step down as Joint Company Secretary of BikeExchange, to pursue a role in private legal practice. Board Change • Nov 16
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 Non-Executive Chairman Gregg Taylor is the most experienced director on the board, commencing their role in 2018. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 04
BikeExchange Limited has completed a Follow-on Equity Offering in the amount of AUD 0.5 million. BikeExchange Limited has completed a Follow-on Equity Offering in the amount of AUD 0.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 25,000,000
Price\Range: AUD 0.02 Announcement • Sep 29
BikeExchange Limited, Annual General Meeting, Oct 27, 2022 BikeExchange Limited, Annual General Meeting, Oct 27, 2022, at 10:00 AUS Eastern Standard Time. Agenda: To consider Financial statements and reports; to consider Adoption of Remuneration Report; to consider Ratification of Prior Issue of Fully Paid Ordinary Shares under Placementto consider Approval of Issue of Fully Paid Ordinary Shares to Dominic O'Hanlon, Director of the Company; to consider Election of Elizabeth Smith as Director; to consider Election of Dominic O'Hanlon as Director; to consider Approval of Issue of Shares to Dominic O'Hanlon, Director of the Company. Reported Earnings • Sep 01
Full year 2022 earnings released: AU$0.048 loss per share (vs AU$0.053 loss in FY 2021) Full year 2022 results: AU$0.048 loss per share. Revenue: AU$6.80m (up 48% from FY 2021). Net loss: AU$14.3m (loss widened 31% from FY 2021). Announcement • Aug 29
BikeExchange Limited to Report Fiscal Year 2022 Results on Aug 31, 2022 BikeExchange Limited announced that they will report fiscal year 2022 results on Aug 31, 2022 Announcement • Aug 12
BikeExchange Limited Announces Change of Joint Company Secretary BikeExchange Limited announced that Ms. Maggie Niewidok from Automic Group has been appointed as Joint Company Secretary, effective immediately. Ms. Niewidok is an admitted lawyer and Company Secretary who works at Automic Group, which provides market leading, cloud-based share registry technology, compliance and governance solutions, supported by a tailored range of professional services. She works closely with a number of boards of both listed and unlisted public companies. Ms. Niewidok holds a double degree, Bachelor of Laws and Bachelor of Commerce majoring in Finance and a Graduate Diploma of Applied Corporate Governance from the Governance Institute. Further to this appointment, Mr. David Hwang from Automic Group will step down as Joint Company Secretary effective immediately. The Board wishes to thank Mr. Hwang for his services to the Company. Announcement • Jul 01
BikeExchange Limited to Report Q4, 2022 Results on Jul 29, 2022 BikeExchange Limited announced that they will report Q4, 2022 results on Jul 29, 2022 Buying Opportunity • Jun 30
Now 34% undervalued after recent price drop Over the last 90 days, the stock is down 51%. The fair value is estimated to be AU$0.045, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last year. Earnings per share has declined by 143%. Revenue is forecast to grow by 482% in 2 years. Earnings is forecast to grow by 78% in the next 2 years. Announcement • Jun 29
BikeExchange Limited Announces Change of Joint Company Secretary BikeExchange Limited announced that Ms. Shelby Coleman from the Automic Group has been appointed as Joint Company Secretary of the Company, effective immediately. Ms. Coleman holds a Bachelor of Laws and a Bachelor of Arts from Victoria University of Wellington. She is experienced in ASX and ASIC compliance, providing advice on corporate governance and compliance issues as well as other regulatory matters for ASX listed companies across a range of industries. Further to this appointment, Ms. Ashlee Zileski will step down as Joint Company Secretary of the Company effective immediately. Announcement • Jun 17
BikeExchange Limited Appoints Dominic O'Hanlon as Non-Executive Director BikeExchange Limited announced the appointment of Mr. Dominic O'Hanlon as a Non-Executive Director of the Company, effective immediately. Mr. O'Hanlon is a technology entrepreneur, business executive, professional director andinvestor with extensive experience and knowledge of the Information Technology industry built up over a career spanning over 30 years. Mr. O'Hanlon was Managing Director and CEO of rhipe Limited for over 7 years and led the sale of RHP to Norwegian based Crayon in November 2021 for AUD 408 million. During Mr. O'Hanlon's time as CEO of RHP, the business grew sales from AUD 74.5 million to AUD 377.4 million (26.6% CAGR) and EBITDA from AUD 1.5 million to AUD 16.6 million (41% CAGR). At the time of sale, RHP had approximately 600 staff across 10 countries. Prior to RHP, Mr. O'Hanlon had multiple technology build, scale and exit experiences including as CEO of Haley Limited (sold to Oracle in 2008) and as Chief Strategy Officer of MYOB (sold to Bain Capital in 2011). Breakeven Date Change • Jun 03
Forecast to breakeven in 2024 The analyst covering BikeExchange expects the company to break even for the first time. New forecast suggests losses will reduce by 21% per year to 2023. The company is expected to make a profit of AU$100.0k in 2024. Average annual earnings growth of 71% is required to achieve expected profit on schedule. Price Target Changed • Jun 01
Price target decreased to AU$0.27 Down from AU$0.33, the current price target is an average from 2 analysts. New target price is 1,241% above last closing price of AU$0.02. Stock is down 92% over the past year. The company is forecast to post a net loss per share of AU$0.014 next year compared to a net loss per share of AU$0.053 last year. Board Change • Apr 27
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, 1 was an independent director. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Chairman Gregg Taylor is the most experienced director on the board, commencing their role in 2018. Independent Non-Executive Director Bryan Zekulich 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. Lack of experienced directors. Announcement • Apr 04
BikeExchange Announces Appointment of Elizabeth Smith as Independent Non-Executive Director BikeExchange Limited announced the appointment of Elizabeth Smith (Liz) as Non-Executive Director, effective 4 April 2022. Liz has over 25 years experience as a Chartered Accountant, is a Corporate Advisory Director atWilliam Buck and a former Corporate Finance Partner of Grant Thornton. She is also a Director of Hub Australia and a member of the Finance Committee of the Australian Red Cross. Announcement • Apr 01
BikeExchange Limited to Report Q3, 2022 Results on Apr 28, 2022 BikeExchange Limited announced that they will report Q3, 2022 results on Apr 28, 2022 Announcement • Jan 30
BikeExchange Limited to Report First Half, 2022 Results on Jan 28, 2022 BikeExchange Limited announced that they will report first half, 2022 results on Jan 28, 2022 Major Estimate Revision • Dec 30
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from AU$7.48m to AU$8.45m. EPS estimate unchanged from -AU$0.032 at last update. Online Retail industry in Australia expected to see average net income growth of 283% next year. Consensus price target of AU$0.32 unchanged from last update. Share price rose 6.9% to AU$0.15 over the past week. Board Change • Dec 30
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Non-Executive Chairman Gregg Taylor is the most experienced director on the board, commencing their role in 2018. Independent Non-Executive Director Bryan Zekulich 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 experienced directors. Major Estimate Revision • Dec 25
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from AU$7.48m to AU$8.45m. EPS estimate unchanged from -AU$0.028 at last update. Online Retail industry in Australia expected to see average net income growth of 283% next year. Consensus price target of AU$0.32 unchanged from last update. Share price was steady at AU$0.14 over the past week. Announcement • Dec 23
BikeExchange Limited (ASX:BEX) acquired Kitzuma LLC from Taylor Essick, Chris Cosgrove, Tony Eggers and others for $3.2 million. BikeExchange Limited (ASX:BEX) acquired Kitzuma LLC from Taylor Essick, Chris Cosgrove, Tony Eggers and others for $3.2 million on December 23, 2021. 67% of the consideration will be paid as deferred shares and 33% of the consideration will be paid in cash on completion. The consideration comprises of issuance of 19.93 million deferred shares of BikeExchange Limited and a cash component of $1.113 million. The deferred shares will be issued to the vendors over a period of up to 5 years. The vendors can receive up to 50% of the BEX deferred shares 12 months after completion, with the remaining 50% to be received no earlier than 24 months after completion. The cash payment will be funded by existing cash reserves of AUD 11.5 million ($8.3 million). Three co-founders and majority shareholders, Taylor Essick, Chris Cosgrove and Tony Eggers will all remain in the business as Key Executives.
BikeExchange Limited (ASX:BEX) completed the acquisition of Kitzuma LLC from Taylor Essick, Chris Cosgrove, Tony Eggers and others on December 23, 2021. Executive Departure • Mar 13
Company Secretary has left the company On the 12th of March, Andrew Whitten's tenure in the role of Company Secretary ended. We don't have any record of a personal shareholding under Andrew's name. Andrew is the only executive to leave the company over the last 12 months. Announcement • Mar 12
BikeExchange Limited Announces Executive Changes BikeExchange Limited announced that David Hwang and Ashlee Zileski from the Automic Group have been appointed as Joint Company Secretaries of the Company, effective immediately. David is an experienced corporate lawyer specialising in listings on ASX (IPOs and reverse listings), equity capital markets, mergers & acquisitions and providing advice on corporate governance and compliance issues. Ashlee is a corporate lawyer with over 6 years' experience advising both listed and unlisted companies on an array of corporate transactions, corporate governance compliance and general commercial matters. Further to these appointments, Mr. Andrew Whitten will step down as Company Secretary of the Company effective immediately. The Board wishes to thank Mr. Whitten for his services to the Company. 