New Risk • Sep 20
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 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 Less than 1 year of cash runway based on free cash flow trend (-CA$1.6m free cash flow). Share price has been highly volatile over the past 3 months (58% average weekly change). Negative equity (-CA$7.7m). Earnings have declined by 38% per year over the past 5 years. Market cap is less than US$10m (CA$3.11m market cap, or US$2.26m). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Shareholders have been diluted in the past year (15% increase in shares outstanding). Revenue is less than US$5m (CA$2.8m revenue, or US$2.1m). New Risk • Jul 16
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% 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 (-CA$1.6m free cash flow). Share price has been highly volatile over the past 3 months (53% average weekly change). Negative equity (-CA$7.7m). Earnings have declined by 38% per year over the past 5 years. Market cap is less than US$10m (CA$3.11m market cap, or US$2.27m). Minor Risks Shareholders have been diluted in the past year (15% increase in shares outstanding). Revenue is less than US$5m (CA$2.8m revenue, or US$2.1m). New Risk • Mar 24
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% 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 (-CA$1.6m free cash flow). Share price has been highly volatile over the past 3 months (35% average weekly change). Negative equity (-CA$7.7m). Earnings have declined by 38% per year over the past 5 years. Market cap is less than US$10m (CA$4.06m market cap, or US$2.84m). Minor Risks Shareholders have been diluted in the past year (16% increase in shares outstanding). Revenue is less than US$5m (CA$2.8m revenue, or US$2.0m). New Risk • Mar 11
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: CA$2.8m (US$2.0m) This is considered a minor risk. Companies with a small amount of revenue 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$1.6m free cash flow). Share price has been highly volatile over the past 3 months (34% average weekly change). Negative equity (-CA$7.7m). Earnings have declined by 38% per year over the past 5 years. Market cap is less than US$10m (CA$3.81m market cap, or US$2.65m). Minor Risk Revenue is less than US$5m (CA$2.8m revenue, or US$2.0m). Reported Earnings • Mar 04
Third quarter 2025 earnings released: CA$0.014 loss per share (vs CA$0.017 loss in 3Q 2024) Third quarter 2025 results: CA$0.014 loss per share (improved from CA$0.017 loss in 3Q 2024). Revenue: CA$543.7k (down 62% from 3Q 2024). Net loss: CA$2.56m (loss narrowed 11% from 3Q 2024). Board Change • Feb 25
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Chairman of the Board Neal Sample was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Dec 01
Second quarter 2025 earnings released: CA$0.005 loss per share (vs CA$0.018 loss in 2Q 2024) Second quarter 2025 results: CA$0.005 loss per share (improved from CA$0.018 loss in 2Q 2024). Revenue: CA$619.3k (down 95% from 2Q 2024). Net loss: CA$948.3k (loss narrowed 68% from 2Q 2024). Announcement • Nov 19
Wellfield Technologies Inc., Annual General Meeting, Jan 20, 2025 Wellfield Technologies Inc., Annual General Meeting, Jan 20, 2025. Reported Earnings • Sep 11
First quarter 2025 earnings released: CA$0.006 loss per share (vs CA$0.019 loss in 1Q 2024) First quarter 2025 results: CA$0.006 loss per share (improved from CA$0.019 loss in 1Q 2024). Revenue: CA$811.0k (down 98% from 1Q 2024). Net loss: CA$1.06m (loss narrowed 64% from 1Q 2024). Reported Earnings • Jul 30
Full year 2024 earnings released: CA$0.17 loss per share (vs CA$0.32 loss in FY 2023) Full year 2024 results: CA$0.17 loss per share (improved from CA$0.32 loss in FY 2023). Revenue: CA$52.2m (down 41% from FY 2023). Net loss: CA$28.8m (loss narrowed 25% from FY 2023). Announcement • Mar 13
Wellfield Technologies Inc. announced that it expects to receive CAD 5 million in funding Wellfield Technologies Inc. announced that it has entered into a purchase agreement for private placement of units for gross proceeds of up to $5,000,000 on March 12, 2024. The transaction will include participation from new investor Alumina Partners (Ontario) Ltd. The company will receive funding in 24 months period. The company will raise funding through equity line. Each unit will be comprised of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at an exercise price equal to a 25% premium to the unit price under such tranche, for a period of 36 months from the date of issuance thereof. The company may draw down in one or more tranches of up to CAD 200,000 per tranche. Each tranche of units issued under the investment agreement will be subject to the acceptance of the TSXV, and the securities issued thereunder will be subject to a four month and one day hold period pursuant to applicable securities laws. The investment agreement remains subject to the approval of the TSXV.
On the same day, the company issued 1,904,762 units at a price of CAD 0.0525 per unit for gross proceeds of CAD 100,000.005. Each warrant issued in the first tranche is exercisable into one common share at a price of CAD 0.0875 per common share for a period of 36 months from the date of issuance thereof. Announcement • Mar 01
Wellfield Updates on Its Bitcoin-Defi Strategy and Patent Status Wellfield Technologies Inc. is excited to announce progress in the patent application process for PCT/US2022/028228, now advancing into the late examination phase. This milestone reflects commitment to innovation in Bitcoin, particularly within the realm of enabling Decentralized Finance solutions connected to Bitcoin (Bitcoin DeFi). Wellfield's innovative technology, central to this patent application, unlocks new possibilities for securely leveraging Bitcoin's value across DeFi applications in a completely automated and decentralized way. As Wellfield moves closer to bringing this proprietary solution to market, it is positioned to capture strong demand to integrate Bitcoin's liquidity and value into DeFi, marking a pivotal moment in Wellfield's journey to monetize its technology and acquisitions. New Risk • Feb 21
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.0m (US$9.60m) 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$10m free cash flow). Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 60% per year over the past 5 years. Market cap is less than US$10m (CA$13.0m market cap, or US$9.60m). Minor Risk Shareholders have been diluted in the past year (11% increase in shares outstanding). New Risk • Jan 25
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$10m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 60% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (38% increase in shares outstanding). Market cap is less than US$100m (CA$19.0m market cap, or US$14.1m). Announcement • Dec 08
Wellfield Technologies Inc. Announces Planned Launch of Tokenized Gold Ecosystem Wellfield Technologies Inc. announced the upcoming launch of its Ethereum-based gold ecosystem, following the acquisition of Tradewind Markets. This move marks a significant step in Wellfield's pursuit to unlock the power of decentralized finance and extend blockchain's reach to global gold markets. Integration into the Decentralized Finance Ecosystem: Tokenized gold connects the tangible value of gold with decentralized finance, offering novel financial opportunities and diversification in investment portfolios. This integration transforms gold from an un productive asset class to a form of capital that. benefits from the opportunities on Ethereum. Reported Earnings • Dec 04
Second quarter 2024 earnings released: CA$0.018 loss per share (vs CA$0.24 loss in 2Q 2023) Second quarter 2024 results: CA$0.018 loss per share (improved from CA$0.24 loss in 2Q 2023). Revenue: CA$11.4m (down 41% from 2Q 2023). Net loss: CA$2.95m (loss narrowed 90% from 2Q 2023). Announcement • Aug 19
Wellfield Technologies Inc., Annual General Meeting, Oct 20, 2023 Wellfield Technologies Inc., Annual General Meeting, Oct 20, 2023. Board Change • Aug 18
Less than half of directors are independent There are 9 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 9 new directors. No experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Neal Sample is the most experienced director on the board, commencing their role in 2021. Independent Director Kristina Bates was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Aug 05
Wellfield Technologies Inc. announced that it has received $2.25 million in funding On August 04, 2023, Wellfield Technologies Inc. closed the transaction. The convertible debentures and the warrants comprising the units are subject to a four-month and one day statutory hold period under applicable Canadian securities laws, ending December 4, 2023.The company has received the conditional approval of the TSXV to list the common shares issuable upon conversion of the convertible debentures and exercise of the warrants on the TSXV. Announcement • Jul 27
Wellfield Technologies Inc. (TSXV:WFLD) signed a definitive agreement to acquire Brane Trust Company Ltd. from Brane Inc. for CAD 9.8 million. Wellfield Technologies Inc. (TSXV:WFLD) (Wellfield or the “Company”) signed a definitive agreement to acquire Brane Trust Company Ltd. from Brane Inc. for CAD 9.8 million on July 26, 2023. Brane Trust will operate independently under Wellfield's ownership, with a distinguished board of directors dedicated to ensuring custodial best practices, including industry-leading protection of client assets through regulatory compliance, strict segregation of duties, and secure technology.
Pursuant to the Definitive Agreement, the Company will acquire the Purchased Assets in exchange for the issuance by the Company of: (i) a CAD 8,400,000 convertible debenture (the "First Convertible Debenture"), convertible at any time, at the option of the Company (the "Conversion Right"), into such number of common shares in the capital of the Company (the "Common Shares") equal to the quotient obtained by dividing (a) the principal amount to be converted by (b) the conversion price, at the sole direction of the Company, of either: CAD 0.25 per Common Share; or the maximum applicable discounted market price according to the policies of the TSX Venture Exchange (the "TSXV"); (ii) a CAD 1,350,000 convertible debenture (the "Second Convertible Debenture", and together with the First Convertible Debenture, the "Convertible Debentures") convertible at any time pursuant to the Conversion Right, according to the same terms as the First Convertible Debenture; (iii) cash payment of CAD 150,000; and (iv) the assumption and payment of approximately CAD 90,000 outstanding liabilities of Brane Trust (collectively, the "Consideration"). The Consideration represents an agreed upon value of approximately CAD 9,990,000.
Closing of the Transaction is subject to a number of customary conditions, including receipt of all necessary corporate and regulatory approvals, in particular the approval of the Alberta Government and the TSXV. The Convertible Debentures will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. INFOR Financial Inc. and Front Financial Inc. acted as financial advisors to the Vendors in connection with the Transaction. Announcement • May 19
Wellfield Technologies Inc. Announces Reduction of Approximately Half of Its Workforce Wellfield Technologies Inc. announced reorganization of core business operations for Coinmama, including enhancing and deepening the utilization of operational partnerships and a reduction of approximately half of its workforce. These improvements are expected to create sustainable gross profit enhancements without impeding Coinmama's ability to service its existing customers and grow its business. As part of the reorganization, the Company is continuing to evaluate each business with the goal to improve margins while maintaining the opportunity for continued growth. Announcement • Jan 24
Wellfield Technologies Inc. announced that it expects to receive CAD 3 million in funding Wellfield Technologies Inc. announced a non-brokered private placement of up to 15,000,000 units at a price of CAD 0.20 per unit for gross proceeds of up to CAD 3,000,000 on January 23, 2023. Each unit is comprised of one common share without par value in the capital of the Company and one purchase warrant to purchase a common share. Each warrant is exercisable at any time for a period of three years from the date on which such warrants are issued and at a price of CAD 0.45 per share. Under the terms of the Warrants, in the event that if the volume-weighted average price of its common shares over 10 consecutive days traded on the TSXV is at or more than CAD 0.75, the Company has the option to accelerate the expiration date of the warrants to a date that is not less than 30 days from the date of written notice from the Company to the Warrant holders. The Private Placement is expected to close on or around January 27, 2023, subject to adjustment at the discretion of the company and the rules and policies of the TSXV. Closing of the private placement is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, in particular approval of the TSXV. All securities issued in connection with the transaction will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. No finder's fees will be paid and no control person has been created with respect to this Private Placement. The transaction will include participation from One of the Company's directors for acquire 680,000 units. Recent Insider Transactions • Jan 14
Executive Chairman recently bought CA$122k worth of stock On the 5th of January, Marc Lustig bought around 620k shares on-market at roughly CA$0.20 per share. This transaction amounted to 8.3% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Marc has been a buyer over the last 12 months, purchasing a net total of CA$561k worth in shares. Board Change • Nov 16
Less than half of directors are independent There are 9 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 9 new directors. No experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Christie Henderson is the most experienced director on the board, commencing their role in 2021. Independent Director Neal Sample was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Jun 09
Wellfield Technologies Inc., Annual General Meeting, Jul 20, 2022 Wellfield Technologies Inc., Annual General Meeting, Jul 20, 2022. Announcement • May 29
Wellfield Technologies Inc. (TSXV:WFLD) completed the acquisition of New Bit Ventures Ltd. Wellfield Technologies Inc. (TSXV:WFLD) signed a definitive agreement to acquire New Bit Ventures Ltd. for $38.4 million on March 24, 2022. Pursuant to the Definitive Agreement and subject to customary closing adjustments, Wellfield will acquire all of the issued and outstanding securities of New Bit Ventures in exchange for total aggregate consideration of $3 million payable in cash and the issuance of 22,988,467 common shares in the capital of Wellfield. In the year ending 2021, New Bit Ventures generated revenues of $130 million. Upon completion New Bit Ventures will become a wholly owned subsidiary of Wellfield. The transaction is subject to regulatory and customary closing condition and third party approval.
Wellfield Technologies Inc. (TSXV:WFLD) completed the acquisition of New Bit Ventures Ltd. on May 27, 2022. Board Change • Apr 27
Less than half of directors are independent There are 4 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: 4 new directors. 5 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Member of Advisory Board Amir Shpilka is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Recent Insider Transactions • Apr 07
Executive Chairman recently bought CA$148k worth of stock On the 5th of April, Marc Lustig bought around 100k shares on-market at roughly CA$1.48 per share. This was the largest purchase by an insider in the last 3 months. Marc has been a buyer over the last 12 months, purchasing a net total of CA$296k worth in shares. Announcement • Feb 03
Wellfield Technologies Appoints Marshall M. Ball as Member of Advisory Board Wellfield Technologies Inc. announced that it has named Marshall Ball, a globally recognized professor and researcher, as the fourth member of the Company's advisory board. Marshall Ball is currently an Assistant Professor of Computer Science at NYU Courant. His research is focused on theoretical computer science, particularly the foundations of cryptography and computational complexity. Announcement • Jan 07
Wellfield Technologies Inc. Provides Investors with A Review of Some of the Company's 2022 Business Focuses Wellfield Technologies Inc. provided investors with a review of some of the Company's 2022 Business focuses, as it begins to accelerate its goal to unlock the power of DeFi and make adoption easy for everyone, consumers and institutions alike. During 2021, Wellfield put the foundation in place for rapid expansion during 2022 a business combination that formed Wellfield was successfully completed, which resulted in the operation of two brands: MoneyClip and Seamless. Together, these brands build bridges from traditional finance to DeFi and set the foundation for DeFi services for all. During 2022, Wellfield's Seamless brand will begin to further its solutions designed to address the following needs in the DeFi ecosystem. Making Bitcoin compatible with DeFi Wellfield has witnessed a shift in the Bitcoin investment community, where holding for capital appreciation is no longer satisfactory. Investors are beginning to look for ways to make their Bitcoin more productive. Seamless plans to launch a solution that is designed to enable Bitcoin to be compatible with DeFi without requiring the owner to give up custody to an intermediary. This solution has the potential to unlock liquidity for Bitcoin investors and to transform Bitcoin into a productive, cash flowing asset as part of the broader DeFi ecosystem. Cross Blockchain Trading:Currently, DeFi infrastructure gaps force users to rely on even more intermediaries cryptocurrency exchanges when they want and need to trade assets across blockchains. The core promise of DeFi is decentralization, and demand is growing for Ethereum-based decentralized exchanges. Wellfield has plans to extend the services that today's decentralized exchanges offer for one blockchain, to all chains. Decentralized Prime Broker Capabilities Currently, DeFi lacks the robust selection of liquidity optimization and risk mitigation products that conventional prime brokers offer institutional clients in traditional capital markets. Wellfield believes that the introduction of these services within DeFi are necessary to scale and attract significant capital. Seamless has plans to launch an initial selection of services focused on addressing some of these gaps, and to build on these solutions over a multi-year period. Wellfield has built MoneyClip ("MoneyClip or the "App") with the vision of creating an everyday financial application powered by blockchain, that can act as a primary point for consumers to secure and utilize their money. The App currently offers P2P payment functionality, and Wellfield has a multi-year plan to integrate new blockchain infrastructure, as it becomes available, to provide consumers with access to a full range of DeFi and traditional finance services. On December 24, 2021, Wellfield announced that it had concluded its initial period of rigorous testing in partnership with early users of the App and launched an intensive engagement program, focused on growing its user base and signing retail partners as it prepares for the introduction of additional functionality. MoneyClip will be launching an upgraded user interface and new connectivity features in First Quarter 2022, to support enhanced usability, brand awareness and scalability as new blockchain infrastructure is integrated over the next 12 months. Recent Insider Transactions • Dec 26
Executive Chairman recently bought CA$149k worth of stock On the 22nd of December, Marc Lustig bought around 115k shares on-market at roughly CA$1.30 per share. This was the largest purchase by an insider in the last 3 months. This was Marc's only on-market trade for the last 12 months.