Announcement • May 29
Sharc International Systems Inc. announced that it has received CAD 2.5 million in funding On May 29, 2026, Sharc International Systems Inc. closed the transaction by closing its final tranche. The final tranche consists of fully-subscribing the 25% overallotment option for a principal amount of CAD 429,000. This brings total proceeds raised to CAD 2,500,000. In connection with the offering, the Company paid to a certain eligible non-arm’s length finder: (i) a cash fee of CAD 9,120 and (ii) issued to such finder, 72,960 compensation warrants of the Company. Each Compensation Warrant entitles the holder thereof to purchase one (1) Common Share of the Company at an exercise price of CAD 0.125 for a period of three (3) years following the date of issuance. Reported Earnings • May 05
Full year 2025 earnings released: CA$0.021 loss per share (vs CA$0.024 loss in FY 2024) Full year 2025 results: CA$0.021 loss per share (improved from CA$0.024 loss in FY 2024). Revenue: CA$3.04m (up 40% from FY 2024). Net loss: CA$3.48m (loss narrowed 6.4% from FY 2024). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Announcement • Feb 18
Sharc International Systems Inc. announced that it expects to receive CAD 2 million in funding Sharc International Systems Inc. announces a non-brokered private placement of unsecured convertible debentures for gross proceeds of CAD 2,000,000 on February 17, 2026. The Debentures will bear interest at a rate of 8% per annum calculated annually and paid on maturity and will mature 3 years from the date of issuance. will be convertible into common shares in the capital of the Company at a price of CAD 0.125 per Common Share at the option of the holder. The Offering will include an up to 25% over-allotment option, exercisable by the Company, which equates to an additional CAD 500,000 (“Greenshoe”). If fully exercised, the total proceeds of the Offering will be gross proceeds of CAD 2,500,000. The Company may pay a finder’s fee in connection with the Offering to eligible arm’s length finders in accordance with applicable securities laws and the policies of the Canadian Securities Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws. New Risk • Feb 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 22% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. 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$2.9m free cash flow). Share price has been highly volatile over the past 3 months (22% average weekly change). Negative equity (-CA$1.9m). Earnings have declined by 5.8% per year over the past 5 years. Market cap is less than US$10m (CA$10.7m market cap, or US$7.83m). Minor Risk Revenue is less than US$5m (CA$2.5m revenue, or US$1.8m). Board Change • Jan 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Dermot Sweeny was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jan 14
Sharc International Systems Inc. Appoints Kevin Hydes and Shane Dungey to Board of Directors SHARC International Systems Inc. announced the appointments of Kevin Hydes and Shane Dungey to its Board of Directors. Kevin Hydes is a globally recognized leader in sustainable building design and systems engineering, bringing over two decades of experience advancing high-performance, low-carbon buildings and communities. A LEED Fellow, Mr. Hydes has been at the forefront of some of the world’s most progressive sustainability initiatives, including LEED Platinum and net-zero projects. He is the founder of Integral Group, a globally respected deep-green engineering firm, and has held senior leadership roles at Stantec and Keen Engineering. Mr. Hydes’s influence extends beyond practice into policy and education. He has served as Chair of the Board for both the U.S. Green Building Council and the World Green Building Council, was a Co-Founder and Director of the Canada Green Building Council and has advised governments and institutions globally on sustainable building standards and codes. Shane Dungey brings more than 20 years of experience in global capital markets, spanning institutional asset management, sales and trading, business development, and corporate and capital markets strategy. Having worked across both the buy-side and sell-side, Mr. Dungey offers deep insight into navigating complex financial markets, executing high-value transactions, and advising companies on growth strategy and market positioning. Mr. Dungey has held senior roles at corporates, institutional investment firms, and brokerage houses, where he specialized in strategic initiatives and corporate development. In addition to his professional experience, Mr. Dungey has served on the Board of Directors of several publicly listed companies and currently serves as a Director on the Board of Lupus Canada, a national charity dedicated to improving the lives of those affected by lupus. Recent Insider Transactions • Dec 11
Independent Director recently bought CA$52k worth of stock On the 5th of December, Dermot Sweeny bought around 745k shares on-market at roughly CA$0.07 per share. This transaction amounted to 11% 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 CA$117k more in shares than they have sold in the last 12 months. Reported Earnings • Dec 03
Third quarter 2025 earnings released: CA$0.005 loss per share (vs CA$0.005 loss in 3Q 2024) Third quarter 2025 results: CA$0.005 loss per share (in line with 3Q 2024). Revenue: CA$829.9k (up 5.7% from 3Q 2024). Net loss: CA$735.1k (loss narrowed 12% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. Announcement • Sep 17
Sharc International Systems Inc., Annual General Meeting, Nov 28, 2025 Sharc International Systems Inc., Annual General Meeting, Nov 28, 2025. Reported Earnings • Aug 31
Second quarter 2025 earnings released: CA$0.005 loss per share (vs CA$0.005 loss in 2Q 2024) Second quarter 2025 results: CA$0.005 loss per share (in line with 2Q 2024). Revenue: CA$848.2k (up 8.7% from 2Q 2024). Net loss: CA$819.9k (loss widened 15% from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. Announcement • Aug 19
Sharc International Systems Inc. announced that it has received CAD 1.57 million in funding On August 18, 2025. Sharc International Systems Inc. announced that it has closed the transaction. It has issued unsecured convertible debentures for gross proceeds of CAD 1,570,000. Announcement • Aug 02
Sharc International Systems Inc. announced that it expects to receive CAD 1.5 million in funding Sharc International Systems Inc announced a non-brokered private placement to issue Secured convertible debentures in principal amount of CAD 1,500,000 on August 1, 2025. The debenture will bear an interest rate of 8% per annum and mature on the date that is 24 months from the date of issuance. All securities issued in connection with the offering will be subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws. New Risk • Jul 16
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Negative equity (-CA$696k). Earnings have declined by 6.9% per year over the past 5 years. Market cap is less than US$10m (CA$12.2m market cap, or US$8.91m). Minor Risk Revenue is less than US$5m (CA$2.4m revenue, or US$1.8m). New Risk • Jul 08
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.0m (US$9.53m) This is considered a major 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 Negative equity (-CA$696k). Earnings have declined by 6.9% per year over the past 5 years. Market cap is less than US$10m (CA$13.0m market cap, or US$9.53m). Minor Risks Share price has been volatile over the past 3 months (18% average weekly change). Revenue is less than US$5m (CA$2.4m revenue, or US$1.8m). Announcement • Jun 21
Sharc International Systems Inc. announced that it expects to receive CAD 1.5 million in funding Sharc International Systems Inc. announced a non-brokered private placement to issue unsecured convertible debenture with a principal amount of CAD 1,500,000 for gross proceeds of CAD 1,500,000 on June 20, 2025. The offering will include an up to 15% over-allotment which equates to an additional 225 units and CAD 225,000. If fully exercised, the total proceeds of the offering will be an aggregate of 1,725 units and gross proceeds of CAD 1,725,000. The debentures will bear interest at a rate of 10% per annum and mature on the date that is 24 months from the date of issuance. The conversion price will be of CAD 0.15 per common share. The company may pay a finder’s fee in connection with the offering to eligible arm’s length finders in accordance with applicable securities laws and the policies of the Canadian Securities Exchange. All securities issued in connection with the offering will be subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws. New Risk • Jun 02
New major risk - Negative shareholders equity The company has negative equity. Total equity: -CA$696k 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$1.9m free cash flow). Negative equity (-CA$696k). Earnings have declined by 6.9% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Revenue is less than US$5m (CA$2.4m revenue, or US$1.7m). Market cap is less than US$100m (CA$17.9m market cap, or US$13.1m). Announcement • May 06
Sharc International Systems Inc. Announces Board Changes Sharc International Systems Inc. announced that Fred Andriano has been named Chairman of the Board of Directors (“BOD”) and Executive Officer. Mr. Andriano replaces SHARC Energy’s founder Lynn Mueller as Executive Chairman. Mr. Mueller will remain on the Board as Vice Chairman and Executive Officer of the Company. Mr. Andriano has extensive experience and expertise in finance, accounting, corporate governance, mergers and acquisitions. He has been in the heating and cooling energy sector for 20 years. He formally was the Vice President of Finance and Administration - NIBE North America for NIBE Industrier AB. Prior to that he was Chief Financial Officer, Treasurer and Secretary for WaterFurnace International Inc. Furthermore, he spent 6 years as Chief Financial Officer of a regional M&A firm. The appointment will strategically accelerate the Company’s growth and improve its ability to expand its markets, products and geographical reach. The Company anticipates future strategic moves enabling SHARC Energy to grow revenue and improve profitability. The Company also has the bittersweet task of announcing the BOD has accepted the retirement and resignation of Eleanor Chiu. Mrs. Chiu has been a director for just shy of six years, consistently adding valued insight, business acumen and astute counsel to both management and the Board. She leaves SHARC Energy as a strong believer and long-term shareholder, holding 5% of the Company. Mr.Andriano will take over Mrs. Chiu role as Chairman of the Audit Committee going forward. New Risk • Apr 16
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.8m (US$9.87m) This is considered a major 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 Less than 1 year of cash runway based on free cash flow trend (-CA$1.9m free cash flow). Earnings have declined by 5.0% per year over the past 5 years. Market cap is less than US$10m (CA$13.8m market cap, or US$9.87m). Minor Risks Share price has been volatile over the past 3 months (17% average weekly change). Revenue is less than US$5m (CA$2.2m revenue, or US$1.6m). New Risk • Feb 13
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: CA$98k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. 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$1.9m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 5.0% per year over the past 5 years. Minor Risks Significant insider selling over the past 3 months (CA$98k sold). Revenue is less than US$5m (CA$2.2m revenue, or US$1.5m). Market cap is less than US$100m (CA$23.2m market cap, or US$16.2m). New Risk • Dec 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. 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$1.9m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 5.0% per year over the past 5 years. Minor Risks Revenue is less than US$5m (CA$2.2m revenue, or US$1.5m). Market cap is less than US$100m (CA$24.0m market cap, or US$16.7m). Recent Insider Transactions • Dec 13
Executive Chairman recently sold CA$98k worth of stock On the 6th of December, Lynn Mueller sold around 750k shares on-market at roughly CA$0.13 per share. This transaction amounted to 53% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Lynn's only on-market trade for the last 12 months. Announcement • Dec 12
Sharc International Systems Inc. Announces CEO Changes SHARC International Systems Inc. announced the appointment of Michael Albertson as the Company’s new Chief Executive Officer. Lynn Mueller has led SHARC Energy as CEO, President and Chairman of the Board since 2014 and will stay on as Executive Chairman of SHARC Energy’s Board of Directors. Michael Albertson brings a wealth of experience and a forward-thinking approach to his new role as CEO, President and Director. With a proven track record evidenced by his involvement in the $364 million acquisition of WaterFurnace International by NIBE group in 2014, Mr. Albertson has a long history as a renewable thermal energy expert and fostering growth. Michael is poised to lead SHARC Energy into its next chapter as his vision for SHARC Energy aligns perfectly with the Company’s commitment to offering sustainable energy solutions that decarbonize our customers and communities. Mr. Mueller’s tenure as CEO and President has been marked by significant accomplishments, shaping the product portfolio and driving growth for SHARC Energy. Under his leadership, the Company has expanded its footprint, enhanced its technological capabilities, and solidified its position as the leader in the WET energy sector. Lynn’s vision and dedication have been instrumental in not only advancing SHARC Energy but also building a viable industry—Wastewater Energy Transfer. Recent Insider Transactions Derivative • Dec 10
Chairman exercised options to buy CA$116k worth of stock. On the 5th of December, Lynn Mueller exercised options to buy 750k shares at a strike price of around CA$0.075, costing a total of CA$56k. This transaction amounted to 112% of their direct individual holding at the time of the trade. Since June 2024, Lynn has owned 671.64k shares directly. Company insiders have collectively bought CA$2.5m more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Nov 28
Third quarter 2024 earnings released: CA$0.005 loss per share (vs CA$0.006 loss in 3Q 2023) Third quarter 2024 results: CA$0.005 loss per share (improved from CA$0.006 loss in 3Q 2023). Revenue: CA$785.0k (up 44% from 3Q 2023). Net loss: CA$832.0k (loss narrowed 8.1% from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Recent Insider Transactions Derivative • Nov 21
CFO & Corporate Secretary exercised options to buy CA$142k worth of stock. On the 12th of November, Hanspaul Pannu exercised options to buy 675k shares at a strike price of around CA$0.075, costing a total of CA$51k. This transaction amounted to 75% of their direct individual holding at the time of the trade. Since June 2024, Hanspaul has owned 1.63m shares directly. Company insiders have collectively bought CA$2.5m more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions • Nov 18
Independent Director recently bought CA$224k worth of stock On the 13th of November, Dermot Sweeny bought around 2m shares on-market at roughly CA$0.12 per share. This transaction amounted to 39% 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 CA$2.2m more in shares than they have sold in the last 12 months. New Risk • Nov 16
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 Canadian 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 Risk Earnings have declined by 3.9% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Revenue is less than US$5m (CA$2.0m revenue, or US$1.4m). Market cap is less than US$100m (CA$22.2m market cap, or US$15.8m). Announcement • Nov 08
SHARC International Systems Inc. Announces Board Changes SHARC International Systems Inc. announced the appointment of Fred Andriano to its Board of Directors. With over 40 years of experience in finance, renewable energy, and corporate governance, Mr. Andriano’s extensive background will be invaluable to SHARC Energy as it continues its growth in sustainable and energy-efficient solutions. Mr. Andriano began his career with Uniroyal Plastics Products Group, where he rapidly advanced through key financial roles. His tenure included positions such as Divisional Manager of Budgets and Forecasting, and ultimately, Divisional Controller for a $600 million division. In 1990, Mr. Andriano moved to Dreyer's Grand Ice Cream as Eastern Division Finance Manager, where he further refined his expertise in financial oversight. In 2005, Mr. Andriano joined WaterFurnace International, as Chief Financial Officer. His leadership at WaterFurnace was marked by strategic acquisitions, international joint ventures, and impressive growth, with revenues doubling from $65 million to $130 million culminating in a $364 million acquisition by NIBE Group in 2014. He continued as CFO and eventually rose to Vice President of Financial and Administrative Services for NIBE North America. During this time, Mr. Andriano played a pivotal role in securing major acquisitions, such as Enertech and The Climate Control Group, expanding NIBE's footprint in the renewable energy space. Mr. Andriano’s experience also includes revitalizing finance and accounting departments, implementing strategic planning processes, and driving substantial profit increases. As CFO of Fireplace International, he led sales growth from $68 million to $110 million and significantly boosted pre-tax profits. Fred Andriano’s wealth of experience and strategic vision will support SHARC Energy's mission to deliver innovative solutions that reduce energy consumption and promote environmental stewardship worldwide. Finally, the Company announced Daryle Anderson, member of the board, steps down to make room for Mr. Andriano. Reported Earnings • Aug 30
Second quarter 2024 earnings released: CA$0.005 loss per share (vs CA$0.011 loss in 2Q 2023) Second quarter 2024 results: CA$0.005 loss per share (improved from CA$0.011 loss in 2Q 2023). Revenue: CA$780.2k (up 72% from 2Q 2023). Net loss: CA$714.7k (loss narrowed 56% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Announcement • Jun 25
Sharc International Systems Inc. announced that it expects to receive CAD 2 million in funding Sharc International Systems Inc. announced a non-brokered private placement of up to 2,000 debenture units at a price of CAD 1,000 per debenture unit for aggregate gross proceeds of up to CAD 2,000,000 on June 24, 2024. Each debenture unit will be comprised of a CAD 1,000 principal amount of 8% unsecured debenture of the company and 5,000 common share purchase warrants of the company. Each warrant will entitle the holder thereof to acquire one common share in the capital of the company at an exercise price of CAD 0.20 per share for a period of 36 months from the date of issuance. In connection with the Offering, the company may pay finders’ fees in cash or securities, or a combination thereof, to certain finders, as permitted by the policies of the Canadian Securities Exchange. There is no minimum number of debenture units or minimum aggregate proceeds required to close the Offering and the company may, at its discretion, elect to close the Offering in one or more tranches. The securities issued pursuant to the Offering are subject to a statutory hold period of four months plus one day from the issue date of the applicable Debenture Unit in accordance with applicable securities legislation. Closing of the Offering and the issuance of the securities described hereunder are subject to several conditions, including receipt of all necessary regulatory and corporate approvals, including approval from the Exchange. Announcement • May 09
Sharc International Systems Inc. Announces PIRANHA Receives Unanimous Approval from Massachusetts Plumbing and Gas Fitting Board for State Expansion Sharc International Systems Inc. announced that it has received unanimous approval from the Massachusetts Board of State Examiners of Plumbers and Gas Fitters for ten PIRANHA pilot sites in the state. This pilot project aims to demonstrate the efficacy of WET across multiple sectors and building types. The Company's application to the Massachusetts Plumber and Gas Fitter Board garnered strong backing from the United Association of Journeymen and Apprentices ("UA") of Massachusetts, an influential union representing approximately 375,000 skilled plumbers, pipe fitters, and other industry professionals across the state. The UA brings the immense promise of WET heat pump systems such as the PIRANHA and Thermal Energy Networks ("TENs") facilitated by SHARC WET systems in creating transitional job opportunities for these 375,000 tradespeople. As North America advances towards decarbonization and diminishes its reliance on fossil fuels, these innovative technologies are poised to play a pivotal role in reshaping the landscape of sustainable energy solutions. SHARC Energy is already collaborating with a real estate investment trust on a PIRANHA retrofit project, leveraging a 50% cost share from Eversource Energy for a PIRANHA feasibility study under the Massachusetts Save Technical Assistance Program. The State of Massachusetts is an early adopter of decarbonization strategies and policy, making it an ideal state to expand SHARC Energy's growing footprint. The 2023 legislative session's Future of Clean Heat bill proposes several provisions to authorize, incentive, and finance the transition from gas to non-combusting renewable thermal energy. The bill would allow gas companies to sell thermal energy, install associated infrastructure, meet the "obligation to serve" with thermal energy, establish a thermal transition fund, disallow post-2050 depreciation of new gas infrastructure, and mandate gas utilities to create transition plans to non-combusting thermal energy. Geo-exchange and WET systems are two technologies that stand to benefit the most from the development of non-combusting TENs. SHARC Energy's WET systems, either standalone or paired with geo-exchange systems, provide for cost-effective, fossil-fuel reducing, resilient, and sustainable solutions in the development of TENs across the state and continent. Moreover, SHARC Energy's systems can qualify for up to 40% in investment tax credits under the Inflation Reduction Act. It is recommended to discuss potential projects with a tax professional to ensure eligibility. The Company believes these tailwinds will facilitate the widespread adoption of WET in the New England region, given the growing awareness of the Company's solutions among New England utilities. HTS New England, a leading HVAC (Heating, Ventilation, and Air Conditioning) representative in the New England market, is SHARC Energy's representative in the region, providing a strong partner to support the market. As a pioneering force in the WET industry, SHARC Energy views these developments in Massachusetts as highly encouraging signs for the future growth and profitability of the Company. The Company remains committed to demonstrating its value to both prospective and existing investors as it capitalizes on the expanding opportunities in the WET sector. Reported Earnings • May 01
Full year 2023 earnings released: CA$0.03 loss per share (vs CA$0.046 loss in FY 2022) Full year 2023 results: CA$0.03 loss per share (improved from CA$0.046 loss in FY 2022). Revenue: CA$1.59m (down 18% from FY 2022). Net loss: CA$3.90m (loss narrowed 19% from FY 2022). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Dec 18
Independent Director recently bought CA$1.6m worth of stock On the 14th of December, Eleanor Chiu bought around 7k shares on-market at roughly CA$235 per share. This transaction amounted to less than 1% 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 CA$2.2m more in shares than they have sold in the last 12 months. Reported Earnings • Nov 30
Third quarter 2023 earnings released: CA$0.006 loss per share (vs CA$0.009 loss in 3Q 2022) Third quarter 2023 results: CA$0.006 loss per share (improved from CA$0.009 loss in 3Q 2022). Revenue: CA$545.4k (up CA$463.6k from 3Q 2022). Net loss: CA$905.1k (loss narrowed 6.4% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Nov 15
SHARC International Systems Inc. Announces Piranha Wastewater Energy Transfer System Has Successfully Completed Testing in Compliance with CSA/UL Standards 60335-2-40, and NSF 5 SHARC International Systems Inc. announced that the PIRANHA Wastewater Energy Transfer system has successfully completed testing in compliance with CSA/UL Standards 60335-2-40, and NSF 5. The PIRANHA series will now bear the Electrical Testing Laboratories listed mark indicating to distributors and customers that the product is compliant to North American standards and provides a pathway for the PIRANHA series to gain compliance in key North American markets requiring state approval. The award of the ETL listed mark to the PIRANHA series is more than a symbol of compliance; it is a testament to SHARC Energy's commitment to delivering quality and safety in its innovative products. This mark is widely recognized across the United States and Canada, not only by authorities and code officials as evidence of adherence to industry standards, but also by customers and consumers as an assurance of safety and reliability. The attainment of this certification opens doors for SHARC Energy, facilitating market penetration in North America and serving as a valuable credential in expanding to other global markets with stringent product compliance requirements. Furthermore, the ETL listed mark equips SHARC Energy with a trusted mark, enhancing the marketability of the PIRANHA series. This certification is expected to boost customer confidence, leading to increased demand. It also positions SHARC Energy as a leader in the WET industry, reflecting the company's dedication to innovation, safety, and environmental stewardship. With the receipt of this mark, the Company is now eligible to file for approval in other key markets with their own product compliance regulations such as Massachusetts and California. The Company is shifting its focus to receiving these approvals. Announcement • Oct 19
Sharc Energy Appoints Dermot Sweeny to Board of Directors, Strengthening its Commitment to Sustainable Design Sharc International Systems Inc. announced the appointment of Dermot Sweeny, President and Founder of Sweeny&Co Architects Inc. (“Sweeny&Co”), to its Board of Directors. Mr. Sweeny’s extensive experience and dedication to sustainable architectural design directly aligns with SHARC Energy’s mission of advancing environmentally responsible energy solutions. Mr. Sweeny has an impressive track record of advocating for sustainable building practices, emphasizing the reduction of carbon footprints, and promoting health and wellness within architectural spaces. His firm, Sweeny&Co, has achieved numerous awards from reputable institutions, like the Canadian Green Building Council and the Urban Land Institute, for their sustainable building designs. This strategic appointment highlights SHARC Energy's ongoing commitment to creating significant value for shareholders by bringing together industry experts who passionately embrace vision of advancing sustainability. Collaborating with industry partners seeking cutting-edge technology to enhance the economics of sustainable development. Mr. Sweeny's extensive expertise and industry knowledge make him a valuable addition to team, propelling the Company towards becoming the premier solution in the sustainable energy sector. His contribution will play a pivotal role in advancing mission and establishing SHARC Energy as the leading choice for sustainable energy solutions, delivering unparalleled ROI within the industry. With a strong background in mixed-use, residential, commercial, and institutional architecture, Mr. Sweeny brings a wealth of knowledge that will be instrumental in guiding the Company’s strategic direction. His understanding of real estate development, sustainability, and development consulting will be invaluable as the Company continues to grow and seeks to enhance shareholder value through sustainable initiatives. Some of Mr. Sweeny’s notable projects include Queen Richmond Centre West, Waterfront Innovation Centre, and One York-Sunlife’s HQ in Toronto, showcasing his ability to blend innovative systems with high-performance, sustainable designs. Many of the Class AAA office buildings designed by Sweeny&Co are LEED Platinum or Gold and have won numerous sustainability awards. These projects reflect a synergy with SHARC Energy's goals of optimizing value while adhering to a responsible environmental ethos. Currently, Sweeny&Co has designed Wastewater Energy Transfer (“WET”) equipment, for the purposes of sustainable heating, cooling and hot water, into as many as ten upcoming projects. Architectural designs represent the earliest opportunity to introduce SHARC Energy equipment to a project and fostering the adoption of SHARC Energy products by Architects is crucial to the Company’s success. Announcement • Sep 21
Sharc International Systems Inc. Appointed Peter Busby to the Board of Directors SHARC International Systems Inc. appointed Peter Busby, C.M., FRAIC, LEED Fellow, to its board of directors, as voted by shareholders at the recently held Annual General Meeting on September 12, 2023. Mr. Busby is a principal at Perkins & Will, a global design practice founded in 1935, with over 28 offices and over 2,500 employees. Mr. Busby has been an Architect based in Vancouver for 40 years. He has built approximately 150 buildings across Canada including 3 at Simon Fraser University and 4 at the University of British Columbia, and many other residential and mixed-use commercial projects across Vancouver. He is best known for his development of sustainable design in Canada, founding the Canada Green Building Council in 2002 that brought LEED to Canada. He has won many design awards, including 6 Governor Generals Awards, 11 Lieutenant Governor Awards, and the RAIC Gold medal. He was awarded the Order of Canada in 2015 for creating and pushing the green building movement in Canada. He also has many built buildings outside Canada, including South Korea, Italy, the USA, Saudi Arabia, and Hong Kong. Peter is still active in the industry, currently designing projects in Ottawa, Toronto, Vancouver, Seattle, and Texas. Finally, the Company would like to advise that Tom MacDonald, who was nominated to stand in for election as a director, removed his consent to act prior to the Annual General Meeting due to an unforeseen personal commitment. Reported Earnings • Aug 30
Second quarter 2023 earnings released: CA$0.011 loss per share (vs CA$0.012 loss in 2Q 2022) Second quarter 2023 results: CA$0.011 loss per share. Revenue: CA$454.5k (up 173% from 2Q 2022). Net loss: CA$1.64m (loss widened 32% from 2Q 2022). Announcement • Jul 15
Sharc International Systems Inc., Annual General Meeting, Sep 12, 2023 Sharc International Systems Inc., Annual General Meeting, Sep 12, 2023. New Risk • Jun 22
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 51% 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 Risk Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Minor Risks Revenue is less than US$5m (CA$1.8m revenue, or US$1.4m). Market cap is less than US$100m (CA$44.0m market cap, or US$33.4m). Reported Earnings • Jun 03
First quarter 2023 earnings released: CA$0.006 loss per share (vs CA$0.008 loss in 1Q 2022) First quarter 2023 results: CA$0.006 loss per share (improved from CA$0.008 loss in 1Q 2022). Revenue: CA$733.7k (down 17% from 1Q 2022). Net loss: CA$754.6k (loss narrowed 9.8% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • May 13
Independent Director recently bought CA$168k worth of stock On the 9th of May, Eleanor Chiu bought around 600k shares on-market at roughly CA$0.28 per share. This transaction amounted to 11% 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 CA$415k more in shares than they have sold in the last 12 months. Reported Earnings • May 01
Full year 2022 earnings released: CA$0.046 loss per share (vs CA$0.033 loss in FY 2021) Full year 2022 results: CA$0.046 loss per share (further deteriorated from CA$0.033 loss in FY 2021). Revenue: CA$1.94m (down 28% from FY 2021). Net loss: CA$4.82m (loss widened 58% from FY 2021). Over the last 3 years on average, earnings per share has increased by 28% per year whereas the company’s share price has increased by 32% per year. Recent Insider Transactions Derivative • Jan 27
Independent Director exercised options to buy CA$69k worth of stock. On the 25th of January, Eleanor Chiu exercised options to buy 250k shares at a strike price of around CA$0.20, costing a total of CA$50k. This transaction amounted to 5.6% of their direct individual holding at the time of the trade. Since March 2022, Eleanor's direct individual holding has increased from 2.41m shares to 4.45m. Company insiders have collectively bought CA$1.1m more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Dec 01
Third quarter 2022 earnings released Third quarter 2022 results: CA$0.009 loss per share. Revenue: CA$81.8k (down 94% from 3Q 2021). Net loss: CA$967.5k (loss widened 139% from 3Q 2021). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has increased by 59% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. Independent Director Eleanor Chiu was the last 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: Insufficient board refreshment. Reported Earnings • Aug 30
Second quarter 2022 earnings released: CA$0.012 loss per share (vs CA$0.011 loss in 2Q 2021) Second quarter 2022 results: CA$0.012 loss per share (down from CA$0.011 loss in 2Q 2021). Revenue: CA$166.8k (up 56% from 2Q 2021). Net loss: CA$1.24m (loss widened 22% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has increased by 71% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Jun 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. Independent Director Eleanor Chiu was the last 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: Insufficient board refreshment. Reported Earnings • May 26
First quarter 2022 earnings released: CA$0.008 loss per share (vs CA$0.01 loss in 1Q 2021) First quarter 2022 results: CA$0.008 loss per share (up from CA$0.01 loss in 1Q 2021). Revenue: CA$884.0k (up 365% from 1Q 2021). Net loss: CA$836.6k (loss narrowed 1.6% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • May 18
Independent Director recently bought CA$90k worth of stock On the 13th of May, Eleanor Chiu bought around 300k shares on-market at roughly CA$0.30 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold CA$407k more in shares than they bought in the last 12 months. Recent Insider Transactions Derivative • May 05
Independent Director exercised options to buy CA$469k worth of stock. On the 2nd of May, Eleanor Chiu exercised options to buy 2m shares at a strike price of around CA$0.32, costing a total of CA$500k. This transaction amounted to 65% of their direct individual holding at the time of the trade. Since June 2021, Eleanor's direct individual holding has increased from 620.00k shares to 3.98m. Company insiders have collectively bought CA$941k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Apr 21
Full year 2021 earnings released: CA$0.033 loss per share (vs CA$0.051 loss in FY 2020) Full year 2021 results: CA$0.033 loss per share. Revenue: CA$2.70m (up 328% from FY 2020). Net loss: CA$3.04m (loss widened 5.2% from FY 2020). Recent Insider Transactions • Feb 17
Independent Director recently bought CA$159k worth of stock On the 11th of February, Eleanor Chiu bought around 532k shares on-market at roughly CA$0.30 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold CA$509k more in shares than they bought in the last 12 months. Recent Insider Transactions • Feb 10
Independent Director recently bought CA$67k worth of stock On the 4th of February, Eleanor Chiu bought around 231k shares on-market at roughly CA$0.29 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold CA$668k more in shares than they bought in the last 12 months. Recent Insider Transactions Derivative • Jan 09
CFO & Corporate Secretary exercised options and sold CA$67k worth of stock On the 4th of January, Hanspaul Pannu exercised 1m options at a strike price of around CA$0.25 and sold these shares for an average price of CA$0.061 per share. This trade did not impact their existing holding. Hanspaul currently holds 1.11m shares (0.011022271820900754 of the company). Company insiders have collectively bought CA$189k more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions Derivative • Dec 24
Nominee Director exercised options to buy CA$1.3m worth of stock. On the 22nd of December, Daryle Anderson exercised options to buy 4m shares at a strike price of around CA$0.25, costing a total of CA$982k. This transaction amounted to 183% of their direct individual holding at the time of the trade. Since June 2021, Daryle has owned 6.07m shares directly. Company insiders have collectively bought CA$256k more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions • Dec 24
Nominee Director recently sold CA$1.2m worth of stock On the 21st of December, Daryle Anderson sold around 4m shares on-market at roughly CA$0.31 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$735k more than they bought in the last 12 months. Reported Earnings • Nov 18
Third quarter 2021 earnings released: CA$0.004 loss per share (vs CA$0.017 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: CA$1.42m (up 234% from 3Q 2020). Net loss: CA$405.1k (loss narrowed 61% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Sep 21
International Systems Inc. Provides an Update on the National Western Center, Trico Livingwell and 303 Battery Projects International Systems Inc. provided an update on the National Western Center, Trico LivingWell and 303 Battery projects. The Company has shipped and delivered the units to each of the respective sites for installation and commissioning scheduled in the first half of 2022. These projects showcase a 3.8 megawatt (MW) district energy system, the largest wastewater heat recovery project in North America to date, a forward-thinking senior-living facility and one of the first Zero Net Energy certified residential building complex in Colorado, Alberta and Washington, respectively. Each of these installations highlight the variety of target verticals for SHARC Energy's technology and brings increases awareness of SHARC Energy products as reliable, cost-effective and consistent solutions for reducing greenhouse gas emissions and creating fresh water savings. National Western Center, a Denver, Colorado, 250-acre academic campus development of indoor and outdoor spaces designed to host innovation and research labs, farmers markets, international conferences, outdoor festivals and everything in between, is a 3.8 MW district energy project currently considered the largest wastewater heat recovery project in North America and potentially the world. The system will supply 90% of the campus heating and cooling needs and help National Western Center avoid emitting an estimated 2,600 metric tonnes of CO2 annually. This project is a marquee demonstration in the United States of the power of wastewater and provides example to the legitimacy of wastewater district energy projects for the purposes of low carbon heating and fresh water saving cooling. Trico LivingWell in Calgary, Alberta will be installing two PIRANHA T15's in two thoughtfully-planned residences. The PIRANHA T15's will reduce up to 100% of the CO2 emissions involved in the hot water production for the residences. These two units represent the 2nd and 3rd installation of a PIRANHA system in Alberta. Reported Earnings • Aug 21
Second quarter 2021 earnings released: CA$0.011 loss per share (vs CA$0.001 loss in 2Q 2020) The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: CA$107.0k (down 5.1% from 2Q 2020). Net loss: CA$1.01m (loss widened CA$980.3k from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Jul 16
Independent Director recently bought CA$107k worth of stock On the 14th of July, Eleanor Chiu bought around 265k shares on-market at roughly CA$0.40 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$233k more in shares than they have sold in the last 12 months. Reported Earnings • May 29
First quarter 2021 earnings released: CA$0.01 loss per share (vs CA$0.019 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: CA$190.2k (up 248% from 1Q 2020). Net loss: CA$850.1k (loss narrowed 2.4% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 04
Full year 2020 earnings released: CA$0.051 loss per share (vs CA$0.085 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: CA$630.6k (up 339% from FY 2019). Net loss: CA$2.89m (loss narrowed 12% from FY 2019). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Mar 27
Independent Director recently bought CA$112k worth of stock On the 24th of March, Eleanor Chiu bought around 200k shares on-market at roughly CA$0.56 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$98k more in shares than they have sold in the last 12 months. Is New 90 Day High Low • Feb 06
New 90-day high: CA$0.51 The company is up 57% from its price of CA$0.33 on 06 November 2020. The Canadian market is up 14% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Machinery industry, which is up 76% over the same period. Announcement • Jan 28
Sharc International Systems Inc. announced that it has received CAD 0.45 million in funding Sharc International Systems Inc. (CNSX:SHRC) announced a non-brokered private placement of 1,500,000 common shares at price of CAD 0.30 per share for gross proceeds of CAD 450,000 on January 26, 2021. The company paid eligible finders an aggregate cash fee of CAD 22,500 and issued 150,000 compensation warrants to eligible finders. Each compensation warrant entitles the holder thereof to purchase one share of the company at an exercise price of CAD 0.45 for a period of two years following the date of issuance. All securities issued in the transaction will be subject to a statutory hold period lasting four months and one day following the issue date. Announcement • Jan 21
SHARC International Systems Inc. Announces Colorado Project to Capture Energy in Wastewater Resulting in Significant GHG-Reduction SHARC International Systems Inc. announced a landmark deal to install its GHG-reducing wastewater energy-recovery technology in what will be North America's largest District Energy System. Colorado's National Western Center, an innovation hub being built in the heart of Denver to pioneer food and agricultural research, will use SHARC Energy's technology to recover the heat in wastewater that would otherwise go down the drain every day. By recovering the energy in that wastewater, SHARC Energy systems will dramatically reduce fossil fuel use for heating and cooling, reducing energy costs and GHG emissions. The National Western Center is pioneering the largest scale wastewater district-energy innovation in North America to date. The National Western Center will rely on two SHARCTM wastewater recovery systems placed in the heart of its 3.8-megawatt (MW) district energy system, creating a low-carbon campus that is sustainable and regenerative. The first phase of development is expected to recover the thermal energy from 3,000 gallons of wastewater that would otherwise be wasted and go down the drain every minute. 2021, as governments and business look to reduce energy costs and the reliance on fossil fuels -- and reduce their carbon footprints -- by tapping into the wastewater that goes down the drain every day." The National Western Center's wastewater heat recovery system has already received widespread attention as an innovation to help developers align with the GHG reduction goals set in Denver's Climate Action Plan. The Denver Post recently reported the National Western Center system will "prevent 2,600 metric tons of carbon dioxide from being emitted into the atmosphere each year by circumventing the need to burn fossil fuels." District Energy Systems are a quickly growing global opportunity that SHARC Energy is targeting as the world looks for low-carbon technologies for greater energy efficiency. As of January 19, 2021, SHARC Energy's Sales Order Backlog 1 is $1.3 million. During 2021, the Company is focused on increasing the Sales Pipeline2 and working on moving projects through to Sales Order Backlog. The growth of these figures not only indicates the growth of SHARC Energy but the growth of the wastewater heat recovery industry. The Wastewater Heat Recovery District Energy System for the 250-acre National Western Center campus will be owned and operated by EAS Energy Partners, a consortium of Enwave USA Holdings LLC, AECOM Technical Services Inc. and Saunders Construction. The district energy system is scalable to accommodate future phases of the National Western Center development and may require additional SHARC systems to meet capacity. Upon shipment of the wastewater heat recovery system -- expected in Third Quarter 2021 -- the Sales Order Backlog associated with the project will be recognized as Revenue in the Company's published financial statements. Is New 90 Day High Low • Jan 20
New 90-day high: CA$0.42 The company is up 16% from its price of CA$0.36 on 21 October 2020. The Canadian market is up 13% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Machinery industry, which is up 76% over the same period. Announcement • Dec 23
Sharc International Systems Inc. announced that it has received CAD 3.0003 million in funding On December 21, 2020, Sharc International Systems Inc. (CNSX:SHRC) closed the transaction. The company issued 10,001,000 common shares for gross proceeds of CAD 3,000,300. The transaction included participation from insiders including directors and/or officers of the company for CAD 186,000. The company paid eligible finders an aggregate cash fee of CAD 150,015 and issued 1,000,100 compensation warrants to eligible finders. Each compensation warrant entitles the holder thereof to purchase one share of the company at an exercise price of CAD 0.45 for a period of two years following the date of issuance. Reported Earnings • Dec 04
Third quarter 2020 earnings released: CA$0.017 loss per share The company reported a solid third quarter result with improved revenues and control over expenses, though losses increased. Third quarter 2020 results: Revenue: CA$426.5k (up 443% from 3Q 2019). Net loss: CA$1.04m (loss widened 15% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Dec 03
Sharc International Systems Inc. announced that it expects to receive CAD 3 million in funding Sharc International Systems Inc. (CNSX:SHRC) announced a non brokered private placement of up to 10,000,000 common shares at a price of CAD 0.30 per share for gross proceeds of up to CAD 3,000,000 on December 2, 2020. The transaction is anticipated to close on or about December 10, 2020. The shares are subject to a statutory hold period lasting four months and one day following the closing Date. The transaction is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the CSE. Reported Earnings • Dec 02
Third quarter 2020 earnings released: CA$0.017 loss per share The company reported a solid third quarter result with improved revenues and control over expenses, though losses increased. Third quarter 2020 results: Revenue: CA$426.5k (up 443% from 3Q 2019). Net loss: CA$1.04m (loss widened 28% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Nov 20
SHARC International Systems Inc. Supports King County and Seattle Pioneering Wastewater Energy Recovery SHARC International Systems Inc. announced plans are proceeding to apply its wastewater energy recovery technology to the King County sewer system, the 12 most populous county in the US, which includes the city of Seattle. SHARC Energy participated in the opportunity that King County provided for public consultation with regards to the development of the template contract that could be used for agreements with private parties (users) for sewer heat recovery. On September 15, King County Council unanimously approved legislation allowing three wastewater heat recovery projects. The approved program proposes up to three pilot projects in King County, including Seattle, which will operate without paying the energy transfer fee for three years in exchange for sharing data with King County Water Treatment Division, which provides wastewater treatment services to 17 cities, 17 local sewer districts and more than 1.8 million residents across a 420-square-mile area in King, Snohomish and Pierce counties, including Seattle. SHARC Energy's system has been accepted by a US national developer which has a Seattle project that is potentially one of the pilot King County wastewater recovery projects. Details of the application involving SHARC Energy are being withheld for commercial reasons. Final development applications for one or potentially more of the pilot project proposals closes December 18, 2020. This initiative highlights one of two opportunities for Smart Cities, municipalities, wastewater authorities and other owners of city wastewater and sewer infrastructure to monetize a previously forgotten resource and cost center while helping achieve the goals of government climate action plans. King County WTD is showcasing the ability to sell the wastewater flowing within their current sewer infrastructure through transfer fee agreements with the private sector. In Vancouver, the City of Vancouver Neighbourhood Energy Utility is powered by a sewer heat recovery district energy system, utilizing two SHARC 880 systems for superior wastewater filtration, to sell 3 megawatts (MW) of heating and cooling to 5,750,000 square feet of residential, commercial and institutional floor area and has approval for a Federal and Provincial government subsidized 5-MW expansion to heat over 20,000,000 square feet of the city slated to begin in 2021. This expansion represents one of two sewer heat recovery district energy projects within the Greater Vancouver area being funded by the Federal and Provincial government. King County is now at the forefront of wastewater heat recovery. They are now the first county or municipality in Washington State and the first in North America to establish a clear framework for private-
sector partners to tap into the wastewater sewer system, a previously unutilized publicly-owned renewable energy resource. The King County Strategic Plan has also set out an aggressive Healthy Environment plan to reduce
countywide greenhouse gas emissions by 50% by 2030. The proposed legislation also furthers its Strategic Climate Action Plan goal of reducing countywide sources of greenhouse gas emissions by supporting development of renewable energy resources. Is New 90 Day High Low • Oct 15
New 90-day high: CA$0.37 The company is up 28% from its price of CA$0.29 on 17 July 2020. The Canadian market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 9.0% over the same period. Is New 90 Day High Low • Sep 23
New 90-day high: CA$0.34 The company is up 66% from its price of CA$0.20 on 25 June 2020. The Canadian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 3.0% over the same period. Announcement • Sep 19
Sharc International Systems Inc. Completes the Three-Month Demonstration Project of the Incubatenergy© Labs 2020 Startup Services Agreement Sharc International Systems Inc. announced that the Company has completed the three-month demonstration project of the Incubatenergy© Labs 2020 Startup Services Agreement ("SSA"), demonstrating the PIRANHATM HC's ability to improve the sustainable energy profile of buildings while providing hot water and air conditioning from the thermal energy recycled from wastewater that would normally be lost down the drain. SHARC Energy and its demonstration partners Ameren Corporation, Con-Edison, Southern California Edison, Tennessee Valley Authority have presented the findings of the demonstration conducted with the Electric Power Research Institute ("EPRI") to EPRI members and the participating utilities in preparation for the free and open to the public Incubatenergy Labs and Ameren Accelerator Demo Day, scheduled for October 14, 2020, where SHARC Energy will be presenting to utilities, investors and other key stakeholders. The registration for Demo Day is open now and shareholders and other stakeholders are encouraged to join. Feedback from participating and partner utilities has been overwhelmingly positive. The goal of the project was to demonstrate the performance of the PIRANHA HC a self-contained central heat pump that uses a specifically designed direct expansion heat exchanger to extract thermal energy from a building's wastewater for domestic hot water production and beneficial air conditioning and quantify the overall energy savings and the associated greenhouse gas ("GHG") reduction. To date, the PIRANHA HC has been successfully running for the three months and demonstrated the capacity to completely offset the natural gas boilers at the site of the project in North Vancouver, British Columbia, at a 60-unit apartment complex. 