Board Change • May 26
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. 3 experienced directors. No highly experienced directors. Independent Director William Schubin was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Mar 18
Centaurus Energy Inc., Annual General Meeting, May 25, 2026 Centaurus Energy Inc., Annual General Meeting, May 25, 2026. Board Change • Dec 05
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. 3 experienced directors. No highly experienced directors. Independent Director William Schubin was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 21
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. 3 experienced directors. No highly experienced directors. Independent Director William Schubin was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jan 14
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Steven Balsam was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jun 18
Centaurus Energy Inc., Annual General Meeting, Aug 15, 2024 Centaurus Energy Inc., Annual General Meeting, Aug 15, 2024. Valuation Update With 7 Day Price Move • May 03
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CA$2.12, the stock trades at a trailing P/E ratio of 2.6x. Average trailing P/E is 9x in the Oil and Gas industry in Canada. Total loss to shareholders of 79% over the past three years. Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improves as stock rises 103% After last week's 103% share price gain to CA$2.50, the stock trades at a trailing P/E ratio of 3.1x. Average trailing P/E is 10x in the Oil and Gas industry in Canada. Total loss to shareholders of 75% over the past three years. Reported Earnings • Nov 16
Third quarter 2023 earnings released: US$0.15 loss per share (vs US$3.55 profit in 3Q 2022) Third quarter 2023 results: US$0.15 loss per share (down from US$3.55 profit in 3Q 2022). Net loss: US$195.0k (down 105% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has fallen by 58% per year, which means it is significantly lagging earnings. Board Change • Sep 15
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Steven Balsam was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Aug 09
-Centaurus Energy Announces Appointment of Jeffrey Borack as Interim CFO Centaurus Energy Inc. and its board of directors are announced that Mr. Jeffrey Borack has been appointed interim Chief Financial Officer. Mr. Borack has more than thirteen years of experience in finance, strategy, and operations. He previously served as founder and CEO of Angels' Cup Coffee. After six years of leading the team and growing the business by more than 30% per year, he effectuated the sale of the business. Prior to his time at Angels' Cup, he held roles as an investment analyst and portfolio manager with NYC-based investment partnerships Kerrisdale Capital and Marathon Partners. There he gained experience with GAAP accounting, financial analysis, and business modeling, and he was able to develop strong relationships with company management, investor relations, and other members of the buy-side and sell-side communities. He received both an MBA and a BS in Bioengineering from the State University of New York at Binghamton. Reported Earnings • Aug 08
First half 2023 earnings released: EPS: US$1.16 (vs US$35.47 in 1H 2022) First half 2023 results: EPS: US$1.16 (down from US$35.47 in 1H 2022). Net income: US$1.23m (down 97% from 1H 2022). Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has fallen by 39% per year, which means it is significantly lagging earnings. New Risk • Jun 21
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 42% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. High level of non-cash earnings (42% accrual ratio). Revenue is less than US$1m. Market cap is less than US$10m (CA$1.28m market cap, or US$966.8k). Minor Risk Profit margins are more than 30% lower than last year (-9.3% net profit margin). Reported Earnings • May 06
Full year 2022 earnings released Full year 2022 results: Revenue: US$56.4m (up 189% from FY 2021). Net income: US$40.2m (up US$45.0m from FY 2021). Profit margin: 71% (up from net loss in FY 2021). The move to profitability was primarily driven by higher revenue. Board Change • May 06
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Steven Balsam was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Dec 01
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: US$3.41m (down 28% from 3Q 2021). Net income: US$3.87m (up 104% from 3Q 2021). Board Change • Nov 16
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Interim CEO, Interim CFO & Director David Tawil is the most experienced director on the board, commencing their role in 2020. Independent Director Steven Balsam was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Reported Earnings • Aug 30
Second quarter 2022 earnings released: EPS: US$0.002 (vs US$0.005 in 2Q 2021) Second quarter 2022 results: EPS: US$0.002 (down from US$0.005 in 2Q 2021). Revenue: US$1.47m (down 67% from 2Q 2021). Net income: US$883.0k (down 66% from 2Q 2021). Profit margin: 60% (up from 58% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 55% per year, which means it is significantly lagging earnings. Announcement • Jul 07
Centaurus Energy Inc. Announces Changes to Board of Directors Centaurus Energy Inc. announced the appointment of William A. Schubin to its Board of Directors. Mr. Schubin is a private investor with experience in a variety of industries including financial services/insurance, real estate, technology and energy. Earlier in his career he was an investment banker with Bear Stearns and Rothschild and served as a Bank Examiner with the Federal Reserve Bank of New York. Mr. Schubin replaces Steven (Shlomo) Azarbad, who has resigned as a director of the Corporation. The Corporation thanks Mr. Azarbad for his contributions to the Corporation and wishes him well on his future endeavours. Announcement • May 21
Centaurus Energy Inc., Annual General Meeting, Jul 20, 2022 Centaurus Energy Inc., Annual General Meeting, Jul 20, 2022. Board Change • Apr 27
No independent directors There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Interim CEO & Director David Tawil is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Announcement • Feb 26
Crown Point Energy Inc. (TSXV:CWV) cancelled the acquisition to acquire Centaurus Energy Inc. (TSXV:CTA). Crown Point Energy Inc. (TSXV:CWV) entered into a letter of intent to acquire Centaurus Energy Inc. (TSXV:CTA) on January 7, 2021. Consideration will be paid in cash. It is currently intended that the proposed transaction be a 60/40 combination in favour of Crown Point, subject to adjustment following due diligence. The parties have agreed that the combined company would have a combined management team and Board of Directors, which would include: two co-Chief Executive Officers, one of whom would be David Tawil, the current interim Chief Executive Officer of Centaurus, and the other would be appointed by Crown Point; a Chief Financial Officer and Chief Operation Officer who would be appointed by Crown Point; a seven member Board of Directors, four of whom would be appointed by Crown Point and three of whom would be appointed by Centaurus; a Chairman of the Board who would be appointed by Crown Point; and a Vice-Chairman of the Board, who would be appointed by Centaurus. The proposed transaction is subject to a number of conditions, including the satisfactory completion of due diligence by both parties, the negotiation of a mutually satisfactory arrangement agreement, and the receipt of shareholder, TSX Venture Exchange and court approval. The signing of the term sheet has been unanimously approved by Crown Point’s and Centaurus’ Board of Directors. If the proposed transaction proceeds, it would be expected to close early in the second quarter of 2021.
Euro-Latin Capital is acting as the financial advisor to Centaurus. TingleMerrett LLP and Victoria Bengochea, Ignacio Meggiolaro and Martina Caunedo of MBP Partners are acting as legal counsel to Centaurus. Burnet, Duckworth & Palmer LLP is acting as legal counsel to Crown Point.
Crown Point Energy Inc. (TSXV:CWV) cancelled the acquisition to acquire Centaurus Energy Inc. (TSXV:CTA) on February 25, 2021. Announcement • Jan 09
Crown Point Energy Inc. (TSXV:CWV) entered into a letter of intent to acquire Centaurus Energy Inc. (TSXV:CTA). Crown Point Energy Inc. (TSXV:CWV) entered into a letter of intent to acquire Centaurus Energy Inc. (TSXV:CTA) on January 7, 2021. It is currently intended that the Proposed Transaction be a 60/40 combination in favour of Crown Point, subject to adjustment following due diligence. The parties have agreed that the Combined Company would have a combined management team and Board of Directors, which would include: two co-Chief Executive Officers, one of whom would be David Tawil, the current interim Chief Executive Officer of Centaurus, and the other would be appointed by Crown Point; a Chief Financial Officer and Chief Operation Officer who would be appointed by Crown Point; a seven member Board of Directors, four of whom would be appointed by Crown Point and three of whom would be appointed by Centaurus; a Chairman of the Board who would be appointed by Crown Point; and a Vice-Chairman of the Board, who would be appointed by Centaurus. The Proposed Transaction is subject to a number of conditions, including the satisfactory completion of due diligence by both parties, the negotiation of a mutually satisfactory arrangement agreement, and the receipt of shareholder, TSX Venture Exchange and court approval. The signing of the Term Sheet has been unanimously approved by Crown Point’s and Centaurus’ board of directors. If the Proposed Transaction proceeds, it would be expected to close early in the second quarter of 2021.
Euro-Latin Capital is acting as the financial advisor to Centaurus. TingleMerrett LLP and MBP Partners are acting as legal counsel to Centaurus. Burnet, Duckworth & Palmer LLP is acting as legal counsel to Crown Point. Announcement • Oct 28
Centaurus Energy Inc. to Report Q3, 2020 Results on Nov 03, 2020 Centaurus Energy Inc. announced that they will report Q3, 2020 results on Nov 03, 2020 Announcement • Oct 08
Centaurus Energy Inc. to Report Q2, 2020 Results on Oct 08, 2020 Centaurus Energy Inc. announced that they will report Q2, 2020 results at 5:00 PM, Eastern Standard Time on Oct 08, 2020