Board Change • Jul 22
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director & Member of Advisory Council Sheila Schweitzer was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • May 09
New major risk - Revenue and earnings growth Earnings have declined by 0.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. 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 (-US$337k free cash flow). Shares are highly illiquid. Negative equity (-US$12m). Earnings have declined by 0.1% per year over the past 5 years. Market cap is less than US$10m (CA$3.56m market cap, or US$2.60m). Minor Risks Shareholders have been diluted in the past year (11% increase in shares outstanding). Revenue is less than US$5m (US$1.3m revenue). Reported Earnings • May 01
Third quarter 2024 earnings released: US$0.003 loss per share (vs US$0.003 loss in 3Q 2023) Third quarter 2024 results: US$0.003 loss per share (in line with 3Q 2023). Revenue: US$341.7k (up 12% from 3Q 2023). Net loss: US$443.7k (loss narrowed 13% from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Board Change • Apr 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director & Member of Advisory Council Sheila Schweitzer was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 28
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director & Member of Advisory Council Sheila Schweitzer was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Feb 02
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director & Member of Advisory Council Sheila Schweitzer was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Nov 28
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director & Member of Advisory Council Sheila Schweitzer was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 01
First quarter 2024 earnings released: US$0.003 loss per share (vs US$0.004 loss in 1Q 2023) First quarter 2024 results: US$0.003 loss per share (improved from US$0.004 loss in 1Q 2023). Revenue: US$366.2k (up 21% from 1Q 2023). Net loss: US$440.5k (loss narrowed 23% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. Board Change • Oct 30
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director & Member of Advisory Council Sheila Schweitzer was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 30
Full year 2023 earnings released: US$0.01 loss per share (vs US$0.017 loss in FY 2022) Full year 2023 results: US$0.01 loss per share (improved from US$0.017 loss in FY 2022). Revenue: US$1.27m (up 5.8% from FY 2022). Net loss: US$1.67m (loss narrowed 33% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings. Board Change • Sep 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director & Member of Advisory Council Sheila Schweitzer was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Aug 24
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director & Member of Advisory Council Sheila Schweitzer was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Jul 09
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.1% This is considered a minor 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 Less than 1 year of cash runway based on free cash flow trend (-US$1.1m free cash flow). Shares are highly illiquid. Negative equity (-US$10m). Market cap is less than US$10m (CA$5.92m market cap, or US$4.46m). Minor Risks Shareholders have been diluted in the past year (6.1% increase in shares outstanding). Revenue is less than US$5m (US$1.2m revenue). Recent Insider Transactions Derivative • Jun 07
Chairman exercised options to buy CA$83k worth of stock. On the 31st of May, Thomas Marreel exercised options to buy 3m shares at a strike price of around CA$0.11, costing a total of CA$359k. This transaction amounted to 28% of their direct individual holding at the time of the trade. Since March 2023, Thomas has owned 11.94m shares directly. Company insiders have collectively bought CA$384k more than they sold, via options and on-market transactions, in the last 12 months. Board Change • May 29
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director & Member of Advisory Council Sheila Schweitzer was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • May 03
Third quarter 2023 earnings released: US$0.003 loss per share (vs US$0.003 loss in 3Q 2022) Third quarter 2023 results: US$0.003 loss per share (in line with 3Q 2022). Revenue: US$304.6k (down 5.2% from 3Q 2022). Net loss: US$509.2k (loss widened 14% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 25% per year, which means it is performing significantly worse than earnings. Board Change • May 03
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director & Member of Advisory Council Sheila Schweitzer was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 20
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director & Member of Advisory Council Sheila Schweitzer was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Feb 18
Certive Solutions Inc., Annual General Meeting, Apr 26, 2023 Certive Solutions Inc., Annual General Meeting, Apr 26, 2023. Reported Earnings • Jan 28
Second quarter 2023 earnings released: US$0.003 loss per share (vs US$0.003 loss in 2Q 2022) Second quarter 2023 results: US$0.003 loss per share (in line with 2Q 2022). Revenue: US$332.8k (down 6.6% from 2Q 2022). Net loss: US$467.1k (loss widened 17% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Board Change • Jan 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director & Member of Advisory Council Sheila Schweitzer was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Aug 08
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director & Member of Advisory Council Sheila Schweitzer was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • May 01
Third quarter 2022 earnings released: US$0.003 loss per share (vs US$0.004 loss in 3Q 2021) Third quarter 2022 results: US$0.003 loss per share (up from US$0.004 loss in 3Q 2021). Revenue: US$321.4k (down 22% from 3Q 2021). Net loss: US$447.7k (loss narrowed 17% from 3Q 2021). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director & Member of Advisory Council Sheila Schweitzer was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 01
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: US$0.003 loss per share (down from US$0.002 loss in 2Q 2021). Revenue: US$356.4k (down 15% from 2Q 2021). Net loss: US$399.8k (loss widened 68% from 2Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Board Change • Jan 15
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Sheila Schweitzer was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 30
First quarter 2022 earnings released: US$0.004 loss per share (vs US$0.004 loss in 1Q 2021) The company reported a soft first quarter result with weaker revenues and control over costs, although losses reduced. First quarter 2022 results: Revenue: US$263.8k (down 38% from 1Q 2021). Net loss: US$523.6k (loss narrowed 1.3% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Board Change • Oct 21
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Sheila Schweitzer was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Executive Departure • Oct 12
Independent Director Jack Saltich has left the company On the 6th of October, Jack Saltich's tenure as Independent Director ended after 3.2 years in the role. We don't have any record of a personal shareholding under Jack's name. Jack is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 3.58 years. Reported Earnings • Oct 06
Full year 2021 earnings released: US$0.015 loss per share (vs US$0.018 loss in FY 2020) The company reported a solid full year result with improved revenues and control over costs, although losses increased. Full year 2021 results: Revenue: US$1.76m (up 25% from FY 2020). Net loss: US$2.04m (loss widened 2.2% from FY 2020). Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 01
Third quarter 2021 earnings released: US$0.004 loss per share (vs US$0.004 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: US$413.0k (down 1.3% from 3Q 2020). Net loss: US$541.0k (loss widened 7.0% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • Mar 11
Certive Solutions Inc. Announces Tim Bricker as New Advisory Council Member Certive Solutions Inc. (‘Certive’ or the ‘Company’) announce the following: Additions to Advisory Council - Certive has recently added a new member to its Advisory Council. Certive's Advisors are charged with providing strategic guidance, referring business development leads and taking on special projects to assist in achieving Certive's Goals. Advisors generally have a broad network of other talented and highly competent executives who are available to assist Certive at the right time, for the right purpose. All Advisors are investors in Certive, which illustrates confidence in Certive's progress toward making inroads and connections throughout the U.S. healthcare market on a national level, with a focus on serving hospitals. Certive is proud to announce that Tim Bricker is now an Advisor. Mr. Bricker has served as a senior executive in leading hospitals and health systems in the western United States for 25 years. He spent 12 years with Intermountain Healthcare in Salt Lake City, Utah, as both a hospital CEO and as a senior operational leader across the multihospital region. While with Intermountain, Mr. Bricker led the planning and programming for three new greenfield hospitals, including the system's flagship, Intermountain Medical Center, in Salt Lake City. Most recently, Mr. Bricker served as Regional Chief Executive for MultiCare Health System in Tacoma, WA, where he led significant financial, growth, and operational improvement initiatives across the five-hospitals in the Puget Sound Region. Reported Earnings • Jan 30
Second quarter 2021 earnings released: US$0.002 loss per share (vs US$0.007 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: US$419.0k (up 25% from 2Q 2020). Net loss: US$237.7k (loss narrowed 66% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 04
First quarter 2021 earnings released: US$0.004 loss per share The company reported a solid first quarter result with reduced losses and improved revenues and control over expenses. First quarter 2021 results: Revenue: US$422.9k (up 28% from 1Q 2020). Net loss: US$530.6k (loss narrowed 33% from 1Q 2020). 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 26% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 31
First quarter earnings released Over the last 12 months the company has reported total losses of US$1.74m, with losses widening by 34% from the prior year. Total revenue was US$1.50m over the last 12 months, up 21% from the prior year. Announcement • Oct 03
Certive Solutions Inc. announced that it has received $1.2 million in funding On September 28, 2020, Certive Solutions Inc. (CNSX:CBP) closed the transaction. The company raised $1,200,000 in the transaction. As of the same date, the company received $217,949 in its forth tranche. Reported Earnings • Sep 30
Full year earnings released - CA$0.018 loss per share Over the last 12 months the company has reported total losses of US$2.00m, with losses widening by 80% from the prior year. Total revenue was US$1.41m over the last 12 months, up 27% from the prior year. 