New Risk • Apr 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended July 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (25% average weekly change). Earnings have declined by 18% per year over the past 5 years. Market cap is less than US$10m (CA$2.18m market cap, or US$1.58m). Minor Risks Latest financial reports are more than 6 months old (reported July 2024 fiscal period end). Shareholders have been diluted in the past year (29% increase in shares outstanding). Revenue is less than US$5m (CA$5.4m revenue, or US$3.9m). Announcement • Mar 07
Blender Bites Limited Announces Resignation of Christopher Mackay from Board of Directors Blender Bites Limited announced the resignation of Mr. Christopher Mackay from its Board of Directors, effective March 4, 2025. New Risk • Sep 01
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 67% 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 Risks Shares are highly illiquid. Earnings have declined by 24% per year over the past 5 years. Shareholders have been substantially diluted in the past year (67% increase in shares outstanding). Market cap is less than US$10m (CA$9.30m market cap, or US$6.90m). Minor Risk Revenue is less than US$5m (CA$4.7m revenue, or US$3.5m). Announcement • Aug 30
Blender Bites Limited announced that it has received CAD 1.2 million in funding On August 29, 2024, Blender Bites Limited closed the transaction. Announcement • Aug 03
Blender Bites Limited announced that it expects to receive CAD 1.2 million in funding Blender Bites Limited announced a non-brokered private placement to issue 1,875,000 units at an issue price of CAD 0.64 per Unit to raise gross proceeds of up to CAD 1,200,000 on August 2, 2024. Each Unit will consist of one common share and one-quarter-of-one common share purchase warrant. Each Warrant will entitle the holder to purchase one common share of the Company at a price of CAD 0.80 at any time on or before that date which is thirty-six months after the closing date of the Offering. Closing of the Offering remains subject to the receipt of any required regulatory approvals. The Company may pay finders’ fees to eligible parties who have assisted in introducing subscribers to the Offering. Reported Earnings • Jul 01
Second quarter 2024 earnings released: CA$0.065 loss per share (vs CA$0.47 loss in 2Q 2023) Second quarter 2024 results: CA$0.065 loss per share (improved from CA$0.47 loss in 2Q 2023). Revenue: CA$1.47m (up CA$1.25m from 2Q 2023). Net loss: CA$549.2k (loss narrowed 75% from 2Q 2023). New Risk • Apr 16
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.5m (US$9.79m) 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$5.2m free cash flow). Earnings have declined by 29% per year over the past 5 years. Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Market cap is less than US$10m (CA$13.5m market cap, or US$9.79m). Minor Risk Revenue is less than US$5m (CA$3.5m revenue, or US$2.5m). Reported Earnings • Mar 01
Full year 2023 earnings released: CA$1.62 loss per share (vs CA$1.17 loss in FY 2022) Full year 2023 results: CA$1.62 loss per share (further deteriorated from CA$1.17 loss in FY 2022). Revenue: CA$3.34m (down 13% from FY 2022). Net loss: CA$8.48m (loss widened 83% from FY 2022). Announcement • Nov 18
Blender Bites Limited (CNSX:BITE) completed the acquisition of Advanced Sports Nutrition Inc. Blender Bites Limited (CNSX:BITE) entered into LOI to acquire Advanced Sports Nutrition Inc. on October 19, 2023. As of November 3, 2023, Blender Bites Limited entered into a share purchase agreement to acquire Advanced Sports Nutrition Inc. Pursuant to the agreement, the company will acquire all of the issued and outstanding common shares of Advanced Sports Nutrition in exchange for 2.013333 million common shares of the company. The LOI contemplates that the acquisition of ASN will proceed via share exchange, with the current shareholders of ASN receiving shares of the Company in exchange for all of the issued and outstanding share capital of ASN. Completion of the proposed acquisition of ASN remains subject to a number of conditions, including the satisfactory completion of due diligence, receipt of any required regulatory approvals and the negotiation of definitive documentation. The acquisition cannot be completed until these conditions have been satisfied.
Blender Bites Limited (CNSX:BITE) completed the acquisition of Advanced Sports Nutrition Inc. on November 16, 2023. Announcement • Nov 01
Blender Bites Limited announced that it has received CAD 0.649998 million in funding On October 31, 2023, Blender Bites Limited closed the transaction. In connection with the closing of the offering, Canaccord Genuity Corp., as finder, received a cash commission of CAD 45,499.89, as well as 19,783 broker warrants Announcement • Oct 24
Blender Bites Limited announced that it expects to receive CAD 0.65 million in funding Blender Bites Limited announced a non-brokered private placement of up to 254,902 units of the company at a price of CAD 2.55 per unit to raise gross proceeds of up to CAD 650,000 on October 23, 2023. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share of the company at a price of CAD 3.20 at any time on or before that date which is 24 months after the closing date of the offering. The transaction is expected to close on or about October 30, 2023, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory approvals. The company may pay registrants and eligible finders who introduce investors who participate in the offering a finder's fee composed of a cash commission of 7% of gross proceeds raised from investors introduced by such registrants or finders and non-transferable finder warrants in such number as is equal to 7% of the number of units sold under the offering to investors introduced by such registrants or finders. Reported Earnings • Sep 30
Third quarter 2023 earnings released: CA$0.73 loss per share (vs CA$0.35 loss in 3Q 2022) Third quarter 2023 results: CA$0.73 loss per share (further deteriorated from CA$0.35 loss in 3Q 2022). Revenue: CA$1.28m (up 10% from 3Q 2022). Net loss: CA$4.28m (loss widened 200% from 3Q 2022). Announcement • Sep 02
Blender Bites Limited announced that it expects to receive $2.000001 million in funding Blender Bites Limited announced a non-brokered private placement of up to 666,667 units at a price of $3 per unit for the aggregate gross proceeds of $2,000,001 on September 1, 2023. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one share for a period of 5 years following the closing date of the financing at an exercise price of $3.30 per share. In connection with the financing, the company may pay finders' fees and issue finders' warrants on the same terms as the warrants, to eligible parties who have assisted by introducing subscribers to the financing. The company will issue common shares of the company to Amalfi Corporate Services Ltd., equal to 2% of the aggregate units issued, in consideration for administrative services rendered in support of the financing. Pursuant to applicable securities laws, all securities issued under the financing will be subject to a statutory hold period of four months and one day. The transaction is expected to close on or before October 8, 2023. New Risk • Aug 07
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 Risks Earnings have declined by 47% per year over the past 5 years. Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Minor Risks Revenue is less than US$5m (CA$2.5m revenue, or US$1.9m). Market cap is less than US$100m (CA$19.7m market cap, or US$14.7m). Reported Earnings • Jun 28
Second quarter 2023 earnings released: CA$0.47 loss per share (vs CA$0.21 loss in 2Q 2022) Second quarter 2023 results: CA$0.47 loss per share (further deteriorated from CA$0.21 loss in 2Q 2022). Revenue: CA$217.5k (down 82% from 2Q 2022). Net loss: CA$2.19m (loss widened 163% from 2Q 2022). New Risk • Jun 23
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 54% 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 Risks Earnings have declined by 61% per year over the past 5 years. Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Minor Risks Significant insider selling over the past 3 months (CA$67k sold). Revenue is less than US$5m (CA$3.5m revenue, or US$2.7m). Market cap is less than US$100m (CA$21.0m market cap, or US$15.9m). New Risk • Jun 16
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$67k 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 Risk Earnings have declined by 61% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (43% increase in shares outstanding). Significant insider selling over the past 3 months (CA$67k sold). Revenue is less than US$5m (CA$3.5m revenue, or US$2.7m). Market cap is less than US$100m (CA$20.0m market cap, or US$15.1m). Announcement • Jun 07
Blender Bites Launches 1-Step Frappe Products Hit Shelves At Midwest Us Grocery Chain Blender Bites Ltd. announced that its full line of 1-Step Frappe innovations has hit shelves at a large Midwest US grocer (the "Retailer") with retail locations across the Midwest, United States, and is reaching a new audience of health-conscious consumers. The Retailer, founded in 1939, is a family-owned grocery chain with over 100 stores in Missouri, Illinois, Indiana, Wisconsin, and Iowa. The Retailer is known for its commitment to quality and customer service and is a trusted source of fresh and healthy products for families throughout the Midwest, US. Establishing partnerships with mid-size grocers like the Retailer is a crucial step for Blender Bites as it cultivates its brand identity and strives to capture market share in the US, its newest retail and distribution market. While large retailers play a significant role in achieving widespread exposure, collaborating with mid-size retailers like the Retailer offers a unique advantage--the opportunity to provide a more personalized and community-oriented shopping experience that is often absent in larger stores. The Retailer has traditionally been a leader when it comes to the listing of innovative items and they are an important piece of the Blender Bites launch strategy, as many other larger retailers look to them when making a purchasing decision. Blender Bites' 1-Step Frappe is a convenient and health-conscious option designed to delight taste buds and support overall well-being. This refreshing beverage is available in three enticing flavors: Mindful Mocha™?, infused with Lion's Mane Mushroom and Vitamin D for focus and memory support; Caramel Collagen™?, enriched with Bovine Collagen and Biotin for skin and joint health; and Vanilla Bean-Bio™?, featuring 3 billion CFU probiotics and chia for optimal gut function. Each serving is thoughtfully formulated with essential vitamins and minerals, providing a nourishing morning boost with just 90mg of caffeine. Announcement • Jun 01
Blender Bites Ltd. Announces Its Newest Innovation, 1-Step Frappe Blender Bites Ltd. announced its newest innovation, 1-Step Frappe. This new addition to their product lineup is intended to revolutionize the way people start their mornings, offering a nutritious, delicious and convenient beverage packed with both essential nutrients and the energizing goodness of coffee. Crafted with a combination of functional and high-quality organic ingredients, Blender Bites' 1-Step Frappe offers a refreshing and healthy improvement without compromising on taste. Each serving is carefully formulated to provide a morning boost, with 90mg of caffeine and a range of therapeutic benefits. What sets 1-Step Frappe apart from the competition is that it contains half the amount of sugar, calories and carbohydrates found in leading blended iced coffee drinks, making it a guilt-free indulgence for health-conscious individuals. Blender Bites' commitment to quality and health is evident in all their products. All Blender Bites items, including the new 1-Step Frappe, are made with organic ingredients, and are Non-GMO, gluten-free, dairy-free, and soy-free, ensuring that individuals with dietary restrictions can enjoy their delicious offerings without compromise. 1-Step Frappe will be available in three delicious flavours designed to deliver a range of therapeutic benefits and contain 12 vitamins & minerals: Mindful MochaTM - featuring Lion's Mane Mushroom and Vitamin D for focus and memory support. Caramel CollagenTM - featuring Bovine Collagen and Biotin for skin and joint support. Vanilla Bean-BioTM - featuring 3 billion CFU probiotics and chia for gut support. Blender Bites 1-Step Frappe is simple to make and contains no inner plastic - just add milk or milk alternative and blend until smooth. Announcement • May 31
Blender Bites Limited announced that it expects to receive CAD 5.000002 million in funding Blender Bites Limited announced that it has entered into an agreement with lead agent Canaccord Genuity Corp. and sole bookrunner on behalf of a syndicate of agents to issue 1,428,572 units of the Company at a price of CAD 3.50 per Unit for gross proceeds of up to CAD 5,000,002 on May 29, 2023. Each Unit will consist of one common share and one-half of one common share purchase warrant. Each Warrant will entitle the holder thereof to purchase one additional Common Share at a price of CAD 4.55 per Common Share, subject to adjustment in certain events, for a period of thirty-six months following the closing date of the Offering. Upon closing of the Offering, the Company shall pay to the Agents a cash commission equal to up to 7.0% of the aggregate gross proceeds of the Offering payable in cash or Units, or any combination of cash or Units at the option of the Lead Agent, non-transferrable warrants of the Company exercisable at any time prior to the date that is 24 months from the Closing Date to acquire that number of Units equal to 7.0% of the number of Units issued under the Offering, at an exercise price equal to the Issue Price, subject to adjustment in certain events. The Company shall pay the Lead Agent a corporate finance fee equal to that number of Common Shares which is equal to 3.0% of the aggregate number of Units issued pursuant to the Offering. The Company may pay finders’ fees to eligible parties who have assisted in introducing subscribers to the Offering as permitted by the policies of the Canadian Securities Exchange (the “CSE”) and applicable securities laws. The Company expects to close the Offering on or about June 15, 2023, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals. All securities not issued pursuant to the Listed Issuer Financing Exemption will be subject to a hold period in accordance with applicable Canadian securities law, expiring four months and one day following the closing date of the Offering. Reported Earnings • Mar 31
First quarter 2023 earnings released: CA$0.12 loss per share (vs CA$0.40 loss in 1Q 2022) First quarter 2023 results: CA$0.12 loss per share (improved from CA$0.40 loss in 1Q 2022). Revenue: CA$439.3k (down 42% from 1Q 2022). Net loss: CA$470.8k (loss narrowed 68% from 1Q 2022). Reported Earnings • Mar 02
Full year 2022 earnings released: CA$1.17 loss per share (vs CA$7.57 loss in FY 2021) Full year 2022 results: CA$1.17 loss per share (improved from CA$7.57 loss in FY 2021). Revenue: CA$3.85m (up 308% from FY 2021). Net loss: CA$4.63m (loss narrowed 71% from FY 2021). Board Change • Nov 16
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 1 experienced director. No highly experienced directors. Independent Director Pat Morris is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Oct 14
Blender Bites Ltd. Expands Product Portfolio with Introduction of New Superfood Smoothie Innovation Daily Defen-C Blender Bites Ltd. announced that it is expanding its product offerings with the introduction of its latest immune supporting smoothie innovation, Daily Defen-C. Daily Defen-CTM contains a blend of organic fruits and functional ingredients including 2 billion plant-based probiotics per puck, camu camu, ginger, turmeric and a blend of 15 vitamins and minerals derived from organic whole foods. This immunity boosting smoothie is high in Vitamin A which naturally supports immune system function and high in Antioxidant Vitamins C and E. Probiotics are a natural way to enhance and support healthy digestion and balance gut microbes which has been shown to increase immune system response. Like all of Blender Bites’ 1-step smoothie innovations, the Company’s latest innovation is certified organic, vegan, non-GMO, gluten free, dairy free, soy free and contains no added sugar. Reported Earnings • Sep 30
Third quarter 2022 earnings released: CA$0.35 loss per share (vs CA$9.37 loss in 3Q 2021) Third quarter 2022 results: CA$0.35 loss per share. Revenue: CA$1.16m (up CA$974.4k from 3Q 2021). Net loss: CA$1.43m (loss widened CA$1.20m from 3Q 2021). Announcement • Sep 02
Blender Bites Limited, Annual General Meeting, Nov 04, 2022 Blender Bites Limited, Annual General Meeting, Nov 04, 2022. Location: 800-1199 West Hastings Street Vancouver British Columbia Canada Announcement • Jul 19
Blender Bites Limited Announces That Canada's Largest Chain of Retail Grocery Stores, Will Be Carrying All Three Flavours of Blender Bites Blender Bites Limited announce that Canada's largest chain of retail grocery stores, will be carrying all three flavours of Blender Bites' superfood smoothie pucks in its Canadian stores nationwide, across all of its divisions and banner stores. As a result of Blender Bites' growing brand popularity and increasing consumer demand, the Chain has now increased the number of Blender flavour varieties to include the Green D-Tox flavour alongside Vita-Smoothie and Power Berry superfood pucks, thereby availing their customers to Blender's full line of superfood smoothie pucks. Once Green D-Tox becomes available on shelves in August, the Chain will feature all three flavours in their banner stores, including its exclusive high-end banner retailers, across the country. Reported Earnings • Jun 30
Second quarter 2022 earnings released: CA$0.021 loss per share (vs CA$0.39 loss in 2Q 2021) Second quarter 2022 results: CA$0.021 loss per share. Revenue: CA$1.22m (up CA$1.07m from 2Q 2021). Net loss: CA$835.2k (loss widened CA$742.6k from 2Q 2021). Announcement • Jun 17
Blender Bites Ltd. Announces Appointment of Lorna R. Vanderhaeghe to its Advisory Board Blender Bites Ltd. announced the appointment of Lorna R. Vanderhaeghe, Natural Health Expert and one of Canada's Top 100 Female Entrepreneurs, to the Company's Advisory Board, effective immediately. Lorna R. Vanderhaeghe has over 35 years in the nutrition industry and has been voted one of Canada's Top 100 Female Entrepreneurs for several years in a row. Lorna was the founder, CEO, and creator of a top-selling line of women's nutritional supplements under her own brand "Lorna Vanderhaeghe Health Solutions", which in four short years made Canada's Fastest Growing Companies list and was acquired by Jamieson Wellness, the largest nutritional supplement company, for 8 figures. Lorna holds a Master of Science degree from Simon Fraser University. Board Change • Apr 27
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 1 experienced director. No highly experienced directors. Independent Director Pat Morris is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Apr 01
First quarter 2022 earnings released: CA$0.04 loss per share (vs CA$0.45 loss in 1Q 2021) First quarter 2022 results: CA$0.04 loss per share. Revenue: CA$759.6k (up CA$703.3k from 1Q 2021). Net loss: CA$1.47m (loss widened CA$1.36m from 1Q 2021). Reported Earnings • Mar 03
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: CA$0.95 loss per share (down from CA$0.50 loss in FY 2020). Revenue: CA$941.9k (up 113% from FY 2020). Net loss: CA$16.0m (loss widened CA$15.8m from FY 2020). Revenue was in line with analyst estimates. Announcement • Jan 27
Blender Bites To Be Deleted From Other OTC Blender Bites Limited Ordinary Shares will be deleted from Other OTC effective January 27, 2022. The deletion is due to Inactive Security. Reported Earnings • Dec 04
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: CA$1.17 loss per share. Revenue: CA$183.4k (flat on 3Q 2020). Net loss: CA$222.5k (flat on 3Q 2020). Revenue was in line with analyst estimates. Board Change • Nov 25
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Independent Director Pat Morris is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Oct 31
High number of new directors Independent Director Grant Smith was the last director to join the board, commencing their role in 2021. 
