Announcement • Dec 13
Fionic Canada Ltd. completed the acquisition of Auto Finance Business and Certain Assets of Axis Auto Finance Inc. (TSX:AXIS). Fionic Canada Ltd. signed a letter of intent to acquire Auto Finance Business and Certain Assets of Axis Auto Finance Inc. (TSX:AXIS) on May 15, 2024. As of October 21, 2024, Fionic Canada Ltd. entered into an asset purchase agreement to acquire Auto Finance Business and Certain Assets of Axis Auto Finance Inc. for a base purchase price of approximately CAD 114 million, subject to adjustments for changes in the composition of the auto loans assets and fair market value of inventory since December 31, 2023.
The deal is subject for approval of Merger Agreement by Target Board and Approval of Offer by Target Shareholders. The Board of Axis Auto Finance unanimously determined that the proposed transaction is in the best interests of the Axis Auto Finance Inc. and is fair to the Axis Auto Finance's securityholders. The transaction will require the approval of two-thirds of votes cast by shareholders of the Axis Auto Finance at a meeting scheduled for November 29, 2024. As of November 29, 2024, target shareholders approved the transaction with Fionic. The transaction is expected to close in the quarter ending December 31, 2024.
Evans & Evans, Inc. acted as Fairness opinion provider for the Special Committee and Board of Directors of Axis Auto Finance Inc.
Fionic Canada Ltd. completed the acquisition of Auto Finance Business and Certain Assets of Axis Auto Finance Inc. (TSX:AXIS) on May 15, 2024. The purchase price for the assets was approximately $78 million, after taking into account adjustments for changes in the composition of the auto loans assets and fair market value of inventory since December 31, 2023. Announcement • Dec 07
Axis Auto Finance Inc. announced that it expects to receive CAD 17.55 million in funding Axis Auto Finance Inc. announced a private placement that it will issue 7.50% Extendible Convertible Unsecured Subordinated Debentures for the principal amount of CAD 17,550,000 on December 6, 2024. The redemption taking place on the Redemption Date is conditional on the sale of the auto loan assets and undertaking of the Corporation pursuant to the asset purchase agreement entered into between the Corporation and Fionic Canada Ltd. Provided that the redemption occurs on the Redemption Date, the amount of the First Redemption
Payment will be CAD 11,147,906.25. Reported Earnings • Nov 15
First quarter 2025 earnings released: EPS: CA$0.015 (vs CA$0.019 loss in 1Q 2024) First quarter 2025 results: EPS: CA$0.015 (up from CA$0.019 loss in 1Q 2024). Net income: CA$1.83m (up CA$4.15m from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 15 percentage points per year, which is a significant difference in performance. Announcement • Oct 18
Axis Auto Finance Inc., Annual General Meeting, Nov 29, 2024 Axis Auto Finance Inc., Annual General Meeting, Nov 29, 2024. Reported Earnings • Sep 29
Full year 2024 earnings released: CA$0.19 loss per share (vs CA$0.21 loss in FY 2023) Full year 2024 results: CA$0.19 loss per share (improved from CA$0.21 loss in FY 2023). Net loss: CA$23.2m (loss narrowed 12% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 37 percentage points per year, which is a significant difference in performance. Reported Earnings • May 16
Third quarter 2024 earnings released: CA$0.017 loss per share (vs CA$0.039 loss in 3Q 2023) Third quarter 2024 results: CA$0.017 loss per share (improved from CA$0.039 loss in 3Q 2023). Net loss: CA$2.08m (loss narrowed 56% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Apr 15
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.1% to CA$0.065. The fair value is estimated to be CA$0.082, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 26% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Mar 25
Now 33% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to CA$0.055. The fair value is estimated to be CA$0.082, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 26% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Feb 14
Second quarter 2024 earnings released: CA$0.008 loss per share (vs CA$0.004 loss in 2Q 2023) Second quarter 2024 results: CA$0.008 loss per share (further deteriorated from CA$0.004 loss in 2Q 2023). Net loss: CA$970.2k (loss widened 107% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Feb 12
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to CA$0.065. The fair value is estimated to be CA$0.082, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jan 22
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 20% to CA$0.06. The fair value is estimated to be CA$0.077, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Dec 27
Now 35% undervalued after recent price drop Over the last 90 days, the stock is down 55%. The fair value is estimated to be CA$0.077, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Meanwhile, the company became loss making. Announcement • Dec 22
Axis Auto Finance Inc. Appoints Arlene O'neill as Director Axis Auto Finance Inc. announced that at the AGM was held on December 21, 2023, the company approved the appointment of Arlene O'Neill as director. Buying Opportunity • Dec 12
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 40%. The fair value is estimated to be CA$0.077, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Nov 17
First quarter 2024 earnings released: CA$0.019 loss per share (vs CA$0.007 loss in 1Q 2023) First quarter 2024 results: CA$0.019 loss per share (further deteriorated from CA$0.007 loss in 1Q 2023). Net loss: CA$2.33m (loss widened 156% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance. Buying Opportunity • Nov 03
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 63%. The fair value is estimated to be CA$0.077, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.4% over the last 3 years. Meanwhile, the company became loss making. Announcement • Sep 17
Axis Auto Finance Inc. Reports Impairment Charges for the Fourth Quarter Ended June 30, 2023 Axis Auto Finance Inc. reported impairment charges for the fourth quarter ended June 30, 2023. For the quarter, the company reported goodwill impairment expense of $17,810,702. The company incurred a non-cash, goodwill impairment expense related to its automotive cash generating unit (“CGU”), as compared to nil in the comparable quarter of prior year. Announcement • Sep 12
Axis Auto Finance Inc. announced that it has received CAD 2.67 million in funding Axis Auto Finance Inc. announced a private placement of non-convertible debentures for proceeds of CAD 2.67 million on September 11, 2023. The debentures mature on September 30, 2025 and carry an annual interest rate of 12%, accrued and payable quarterly in arrears on each March 31, June 30, September 30 and December 31, in cash. Subject to certain conditions, the company will have the right to prepay any or part of the debentures at any time prior to the maturity date by paying the principal amount and accrued and unpaid interest. The principal amount of the debentures is not convertible into common shares or any other securities of the company. The company also issued an aggregate of 12,015,000 common share purchase warrants, each of which entitles the holder thereof to purchase one common share of the company at an exercise price of CAD 0.16 per share for a period of three years from the date of issuance. The debentures, warrants and warrant shares are subject to a four-month statutory hold period commencing on the date of their issuance. As part of the transaction, an aggregate of CAD 600,000 principal amount of the debentures and 2,700,000 Warrants were purchased by officers and directors of the company. New Risk • Aug 17
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 17% 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 Risk Share price has been highly volatile over the past 3 months (17% average weekly change). Minor Risk Market cap is less than US$100m (CA$18.1m market cap, or US$13.4m). Reported Earnings • May 14
Third quarter 2023 earnings released: CA$0.039 loss per share (vs CA$0.002 profit in 3Q 2022) Third quarter 2023 results: CA$0.039 loss per share (down from CA$0.002 profit in 3Q 2022). Net loss: CA$4.71m (down CA$5.01m from profit in 3Q 2022). Revenue is forecast to grow 77% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Consumer Finance industry in Canada. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Price Target Changed • Feb 16
Price target decreased by 9.7% to CA$0.70 Down from CA$0.78, the current price target is an average from 2 analysts. New target price is 56% above last closing price of CA$0.45. Stock is down 27% over the past year. The company is forecast to post a net loss per share of CA$0.002 compared to earnings per share of CA$0.012 last year. Reported Earnings • Feb 15
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: CA$0.004 loss per share (down from CA$0.002 profit in 2Q 2022). Revenue: CA$4.25m (down 16% from 2Q 2022). Net loss: CA$467.9k (down 306% from profit in 2Q 2022). Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) also missed analyst estimates by 100%. Revenue is forecast to grow 63% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Consumer Finance industry in Canada. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Jan 27
Axis Auto Finance Inc. (TSX : AXIS) entered into an agreement to acquire portfolio of auto loans from an Ontario based competitor. Axis Auto Finance Inc. (TSX : AXIS) entered into an agreement to acquire portfolio of auto loans from an Ontario based competitor on January 26, 2023. The CAD 17.2 million in principal balances represent approximately 1,100 loan contracts. Funded through cash on closing and a holdback to be released over 36 months subject to portfolio performance. The transaction is scheduled to close on January 31, 2023. Reported Earnings • Nov 17
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: CA$0.007 loss per share (down from CA$0.007 profit in 1Q 2022). Revenue: CA$3.64m (down 32% from 1Q 2022). Net loss: CA$908.3k (down 240% from profit in 1Q 2022). Revenue missed analyst estimates by 5.3%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 56% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Consumer Finance industry in Canada. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Nov 16
Consensus EPS estimates fall by 84% The consensus outlook for earnings per share (EPS) in 2023 has deteriorated. 2023 revenue forecast decreased from CA$50.8m to CA$48.0m. EPS estimate also fell from CA$0.06 per share to CA$0.01 per share. Net income forecast to shrink 22% next year vs 8.2% decline forecast for Consumer Finance industry in Canada. Consensus price target of CA$0.78 unchanged from last update. Share price was steady at CA$0.51 over the past week. Announcement • Oct 18
Axis Auto Finance Inc., Annual General Meeting, Dec 15, 2022 Axis Auto Finance Inc., Annual General Meeting, Dec 15, 2022. Major Estimate Revision • Sep 21
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in 2023 has deteriorated. 2023 revenue forecast decreased from CA$53.4m to CA$50.8m. EPS estimate also fell from CA$0.07 per share to CA$0.06 per share. Net income forecast to grow 418% next year vs 9.2% decline forecast for Consumer Finance industry in Canada. Consensus price target up from CA$0.80 to CA$0.82. Share price was steady at CA$0.52 over the past week. Reported Earnings • Sep 15
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: CA$0.013 (down from CA$0.024 in FY 2021). Revenue: CA$20.7m (up 9.8% from FY 2021). Net income: CA$1.48m (down 36% from FY 2021). Profit margin: 7.2% (down from 12% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 19%. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • May 16
Consensus EPS estimates fall by 23% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CA$41.4m to CA$40.8m. EPS estimate also fell from CA$0.02 per share to CA$0.02 per share. Net income forecast to grow 221% next year vs 14% decline forecast for Consumer Finance industry in Canada. Consensus price target of CA$0.97 unchanged from last update. Share price was steady at CA$0.70 over the past week. Reported Earnings • May 10
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: CA$0.002 (down from CA$0.006 in 3Q 2021). Revenue: CA$4.98m (up 7.9% from 3Q 2021). Net income: CA$293.4k (down 51% from 3Q 2021). Profit margin: 5.9% (down from 13% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) also missed analyst estimates by 67%. Over the next year, revenue is forecast to grow 143%, compared to a 77% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target increased to CA$0.97 Up from CA$0.70, the current price target is an average from 2 analysts. New target price is 35% above last closing price of CA$0.72. Stock is up 140% over the past year. The company is forecast to post earnings per share of CA$0.024 for next year compared to CA$0.024 last year. Announcement • Apr 20
Axis Auto Finance Inc. Announces the Appointment of Ian Anderson, President of Westlake Financial, to the Board of Directors Axis Auto Finance Inc. announced the appointment of Ian Anderson, President of Westlake Financial, to the Board of Directors. NowLake has invested CAD 15 million into Axis’ common shares in November 2021 and owns approximately 24% of the Company. Investment proceeds are being used to develop and roll out digital loan origination channels as well as general corporate purposes. Ian Anderson joined Westlake in 2005 as Director of Risk Management and was appointed Group President in 2008. His primary focus is the development and execution of business strategy for Westlake Financial and its six subsidiaries with emphasis on improving shareholder value and promoting the use of technology. Under his stewardship, Westlake’s portfolio grew from $400 million in 2008 to over $15 billion currently, while maintaining above a 30% Return on Equity. Prior to joining Westlake, Mr. Anderson held positions at Bayview Acceptance, Wells Fargo and Triad Financial. He holds a bachelor’s degree in Economics from the University of California and is a recipient of multiple industry awards. Announcement • Apr 07
Axis Auto Finance Inc.(TSXV:AXIS) dropped from S&P/TSX Venture Composite Index Axis Auto Finance Inc.(TSXV:AXIS) dropped from S&P/TSX Venture Composite Index Announcement • Apr 01
Axis Auto Finance Inc. Announces Executive Changes Axis Auto Finance Inc. announced the appointment of Jim Nikopoulos to the Board of Directors. Mr. Nikopoulos will replace Gerry Thom who has retired from the Board. Mr. Nikopoulos is an entrepreneur and business executive focused on the finance, technology, consumer and healthcare sectors. Jim is the Founder and CEO of MJ Holdings Corp., an investment company that has made numerous investments in early-stage companies across various industries. He was the Founder & CEO of Core Data Centers Inc., a data center and connectivity services company, prior to a sales exit transaction. Mr. Nikopoulos was previously the President of ECN Capital Corp. Jim co-led the transformation of ECN from a tradition finance company to an asset manager with over $31 billion assets. Major Estimate Revision • Feb 22
Consensus EPS estimates fall by 36% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CA$43.3m to CA$41.6m. EPS estimate also fell from CA$0.04 per share to CA$0.03 per share. Net income forecast to grow 193% next year vs 14% decline forecast for Consumer Finance industry in Canada. Consensus price target of CA$0.80 unchanged from last update. Share price was steady at CA$0.64 over the past week. Reported Earnings • Feb 16
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: EPS: CA$0.002 (down from CA$0.004 in 2Q 2021). Revenue: CA$5.08m (up 18% from 2Q 2021). Net income: CA$227.4k (down 44% from 2Q 2021). Profit margin: 4.5% (down from 9.5% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.4%. Earnings per share (EPS) also missed analyst estimates by 78%. Over the next year, revenue is forecast to grow 139%, compared to a 80% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Dec 01
Independent Director recently bought CA$305k worth of stock On the 26th of November, Wes Neichenbauer bought around 609k shares on-market at roughly CA$0.50 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$1.1m more in shares than they have sold in the last 12 months. Reported Earnings • Nov 25
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: CA$0.007 (down from CA$0.008 in 1Q 2021). Revenue: CA$5.33m (up 10% from 1Q 2021). Net income: CA$650.7k (down 17% from 1Q 2021). Profit margin: 12% (down from 16% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) also missed analyst estimates by 46%. Earnings per share (EPS) missed analyst estimates by 46%. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Sep 16
Full year 2021 earnings released: EPS CA$0.024 (vs CA$0.007 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: CA$18.9m (up 21% from FY 2020). Net income: CA$2.32m (up CA$3.00m from FY 2020). Profit margin: 12% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Jul 10
Independent Chairman of the Board recently bought CA$59k worth of stock On the 7th of July, Paul Stoyan bought around 123k shares on-market at roughly CA$0.48 per share. This was the largest purchase by an insider in the last 3 months. Paul has been a buyer over the last 12 months, purchasing a net total of CA$65k worth in shares. Major Estimate Revision • Jun 02
Consensus EPS estimates fall to CA$0.03 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from CA$39.6m to CA$38.0m. EPS estimate also fell from CA$0.043 to CA$0.03. Net income forecast to grow 91% next year vs 6.4% growth forecast for Consumer Finance industry in Canada. Consensus price target down from CA$0.65 to CA$0.60. Share price fell 5.3% to CA$0.27 over the past week. Reported Earnings • May 29
Third quarter 2021 earnings released: EPS CA$0.006 (vs CA$0.007 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CA$4.61m (up 48% from 3Q 2020). Net income: CA$596.2k (up CA$1.29m from 3Q 2020). Profit margin: 13% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Mar 04
New 90-day low: CA$0.29 The company is down 11% from its price of CA$0.33 on 03 December 2020. The Canadian market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Finance industry, which is up 40% over the same period. Major Estimate Revision • Mar 03
Analysts update estimates The 2021 consensus earning per share (EPS) estimate was lowered from CA$0.05 to CA$0.043. Revenue estimate was approximately flat at CA$39.6m. Net income is expected to grow by 274% next year compared to 20% growth forecast for the Consumer Finance industry in Canada. The consensus price target of CA$0.65 was unchanged from the last update. Share price is up 1.6% to CA$0.33 over the past week. Reported Earnings • Feb 27
Second quarter 2021 earnings released: EPS CA$0.004 (vs CA$0.005 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CA$4.31m (up 13% from 2Q 2020). Net income: CA$407.5k (up CA$870.5k from 2Q 2020). Profit margin: 9.5% (up from net loss in 2Q 2020). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 27
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) missed analyst estimates by 64%. Over the next year, revenue is forecast to grow 148%, compared to a 40% growth forecast for the Consumer Finance industry in Canada. Reported Earnings • Dec 02
First quarter 2021 earnings released: EPS CA$0.008 The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CA$4.83m (up 21% from 1Q 2020). Net income: CA$787.3k (up CA$1.32m from 1Q 2020). Profit margin: 16% (up from net loss in 1Q 2020). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Dec 02
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 4.5%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Recent Insider Transactions • Nov 06
CEO & Director recently bought CA$54k worth of stock On the 3rd of November, Todd Hudson bought around 143k shares on-market at roughly CA$0.38 per share. In the last 3 months, they made an even bigger purchase worth CA$97k. Todd has been a buyer over the last 12 months, purchasing a net total of CA$436k worth in shares. Is New 90 Day High Low • Nov 04
New 90-day low: CA$0.33 The company is down 17% from its price of CA$0.40 on 06 August 2020. The Canadian market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Finance industry, which is up 22% over the same period. Announcement • Oct 10
Axis Auto Finance Inc. Appoints Lesley Gallinger to Board of Directors Lesley Gallinger appointed to the Axis Auto Finance Inc. Board of Directors. Lesley Gallinger is the President and CEO of Elexicon Energy ("Elexicon"). Based in Ajax, Elexicon is the 4th largest municipally owned Local Distribution Company in Ontario. Elexicon services 170,000 electricity customers in Pickering, Ajax, Whitby, Clarington, Belleville, Gravenhurst and surrounding communities. Prior to joining Elexicon in 2019, Ms. Gallinger was the Chief Strategy and Financial Officer for the Electrical Safety Authority. Earlier in her career, Ms. Gallinger served as CFO in other energy and pharmaceutical organizations. She is active in the industry and currently serves as a Director and Committee Chair for several energy organizations. Reported Earnings • Oct 03
Full year earnings released - CA$0.007 loss per share Over the last 12 months the company has reported total losses of CA$674.9k, with losses narrowing by 83% from the prior year. Total revenue was CA$15.6m over the last 12 months, up 9.4% from the prior year. Announcement • Sep 19
Axis Auto Finance Inc. Announces Resignation of Jordan Zinberg from It's Board of Directors Axis Auto Finance Inc. announced that Jordan Zinberg has resigned from it's Board of Directors. The Company is expecting to announce a replacement in the near future. Recent Insider Transactions • Sep 18
CEO & Director recently bought CA$97k worth of stock On the 15th of September, Todd Hudson bought around 243k shares on-market at roughly CA$0.40 per share. This was the largest purchase by an insider in the last 3 months. Todd has been a buyer over the last 12 months, purchasing a net total of CA$499k worth in shares. 
