New Risk • Jun 24
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₩14.7b (US$9.52m) 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 Share price has been highly volatile over the past 3 months (31% average weekly change). Earnings have declined by 37% per year over the past 5 years. Market cap is less than US$10m (₩14.7b market cap, or US$9.52m). Minor Risk Revenue is less than US$5m (₩5.2b revenue, or US$3.4m). New Risk • Apr 25
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: ₩6.3b (US$4.3m) 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 Share price has been highly volatile over the past 3 months (25% average weekly change). Earnings have declined by 39% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (25% increase in shares outstanding). Revenue is less than US$5m (₩6.3b revenue, or US$4.3m). Market cap is less than US$100m (₩30.6b market cap, or US$20.7m). Announcement • Apr 16
Ameridge Corporation announced that it expects to receive KRW 7 billion in funding Ameridge Corporation announced a private placement of Unregistered interest-bearing Unsecured Convertible Bonds of the company for gross proceeds of CAD 7,000,000,000 on April 14, 2026. The transaction involves participation from new investor Meta77 Fund. The Bonds are 100% convertible into 12,773,722 Common Shares of the company at a price of KRW 548 and the conversion billing period will start from April 30, 2027 till March 30, 2029. The Bonds carry 3% surface interest rate and 5% maturity interest rate and has a maturity date of April 30, 2029. The transaction has been approved by Board of Directors of the company. The securities being issued in this transaction are on a hold period for 1 year. The transaction is expected to close April 30, 2026. Announcement • Apr 15
Ameridge Corporation, Annual General Meeting, Apr 30, 2026 Ameridge Corporation, Annual General Meeting, Apr 30, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 9, secho-daero 73-gil, seocho-gu, seoul South Korea New Risk • Mar 17
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 25% 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 Risk Earnings have declined by 23% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (25% increase in shares outstanding). Market cap is less than US$100m (₩22.4b market cap, or US$15.0m). Announcement • Feb 27
Ameridge Corporation has completed a Follow-on Equity Offering in the amount of KRW 699.999308 million. Ameridge Corporation has completed a Follow-on Equity Offering in the amount of KRW 699.999308 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 1,605,503
Price\Range: KRW 436
Transaction Features: Subsequent Direct Listing Reported Earnings • Dec 03
Third quarter 2025 earnings released: ₩57.00 loss per share (vs ₩108 loss in 3Q 2024) Third quarter 2025 results: ₩57.00 loss per share (improved from ₩108 loss in 3Q 2024). Revenue: ₩1.05b (down 76% from 3Q 2024). Net loss: ₩2.31b (loss narrowed 51% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 33% per year whereas the company’s share price has fallen by 35% per year. Announcement • Nov 29
Ameridge Corporation announced that it has received KRW 2.4 billion in funding On November 28, 2025, Ameridge Corporation closed the transaction. New Risk • Sep 30
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 South Korean stocks, typically moving 12% 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 Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 10% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩43.2b market cap, or US$30.8m). Announcement • Sep 08
Ameridge Corporation announced that it has received KRW 4.999999739 billion in funding On September 8, 2025 Ameridge Corporation closed its transactions KRW 4.999999739 billion in funding. Reported Earnings • Sep 03
Second quarter 2025 earnings released: ₩100.00 loss per share (vs ₩121 loss in 2Q 2024) Second quarter 2025 results: ₩100.00 loss per share (improved from ₩121 loss in 2Q 2024). Revenue: ₩1.96b (down 67% from 2Q 2024). Net loss: ₩4.92b (loss narrowed 3.3% from 2Q 2024). New Risk • Aug 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 8.0% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.0% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (₩44.4b market cap, or US$32.0m). Announcement • Aug 14
Ameridge Corporation has filed a Follow-on Equity Offering in the amount of KRW 999.999168 million. Ameridge Corporation has filed a Follow-on Equity Offering in the amount of KRW 999.999168 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 912,408
Price\Range: KRW 1096
Transaction Features: Subsequent Direct Listing New Risk • Jun 09
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% 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: Minor Risks Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (₩52.7b market cap, or US$38.9m). Reported Earnings • Jun 05
First quarter 2025 earnings released: ₩73.00 loss per share (vs ₩93.00 loss in 1Q 2024) First quarter 2025 results: ₩73.00 loss per share (improved from ₩93.00 loss in 1Q 2024). Revenue: ₩2.44b (down 57% from 1Q 2024). Net loss: ₩3.27b (loss narrowed 5.2% from 1Q 2024). Announcement • Apr 16
Ameridge Corporation, Annual General Meeting, Apr 30, 2025 Ameridge Corporation, Annual General Meeting, Apr 30, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 18, seolleung-ro 91-gil, gangnam-gu, seoul South Korea Announcement • Apr 03
Ameridge Corporation announced that it expects to receive KRW 5.095 billion in funding Ameridge Corporation announced a private placement to issue 5,000,000 shares at an issue price of KRW 1,019 per share for gross proceeds of KRW 5,095,000,000 on April 1, 2025. The transaction will include participation from new investor The Bon Holdings Fund. The transaction has been approved by shareholders, restricted to a hold period and is expected to close on April 15, 2025. New Risk • Mar 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Market cap is less than US$100m (₩41.7b market cap, or US$28.7m). New Risk • Dec 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risks Share price has been volatile over the past 3 months (10.0% average weekly change). Shareholders have been diluted in the past year (8.4% increase in shares outstanding). Market cap is less than US$100m (₩43.9b market cap, or US$30.5m). Announcement • Dec 12
Ameridge Corporation announced that it has received KRW 3 billion in funding On December 11, 2024, Ameridge Corporation closed the transaction and raised gross proceeds KRW 3,000,000,000. Interest rate of bonds is 3% and yield to maturity rate is 5% and will matures on December 10, 2027. The bonds will be 100% converted into 2,606,429 common shares at a fixed conversion price of KRW 1,151 per share. The conversion period is from December 11, 2025 to November 11, 2027. The transaction includes participation from individual investor, Park Jong-hee for KRW 2,000,000,000 and Kim Sang Moon for KRW 1,000,000,000. The issuance is subject to 1-year ban on events and divisions through private placement. New Risk • Dec 09
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (8.4% increase in shares outstanding). Market cap is less than US$100m (₩44.6b market cap, or US$31.3m). Reported Earnings • Dec 03
Third quarter 2024 earnings released: ₩108 loss per share (vs ₩182 loss in 3Q 2023) Third quarter 2024 results: ₩108 loss per share (improved from ₩182 loss in 3Q 2023). Revenue: ₩4.44b (down 50% from 3Q 2023). Net loss: ₩4.68b (loss narrowed 31% from 3Q 2023). New Risk • Sep 02
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₩6.5b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. 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 (-₩6.5b free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Minor Risks Shareholders have been diluted in the past year (7.9% increase in shares outstanding). Market cap is less than US$100m (₩80.3b market cap, or US$60.0m). Reported Earnings • Sep 02
Second quarter 2024 earnings released: ₩121 loss per share (vs ₩65.00 loss in 2Q 2023) Second quarter 2024 results: ₩121 loss per share (further deteriorated from ₩65.00 loss in 2Q 2023). Revenue: ₩5.91b (down 45% from 2Q 2023). Net loss: ₩5.08b (loss widened 99% from 2Q 2023). Announcement • Jan 31
Ameridge Corporation has completed a Follow-on Equity Offering in the amount of KRW 999.998748 million. Ameridge Corporation has completed a Follow-on Equity Offering in the amount of KRW 999.998748 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 602,772
Price\Range: KRW 1659 Announcement • Jan 16
Ameridge Corporation announced that it has received KRW 3.942 billion in funding from EK Line Inc. Ameridge Corporation announced a private placement of series 28 bearer-type unsecured private placement convertible bonds for a gross proceeds of KRW 3,942,000,000 on January 16, 2024. The transaction will include participation from The bonds will mature on January 16, 2027. The bonds will be 100% converted into 1,843,779 common shares at a fixed conversion price of KRW 2,138 per share for an equity stake of 4.52%. The conversion period is from January 16, 2025 to December 16, 2026. The securities issued in the transaction are subject to a lock up period of one year. The transaction has been approved by the board of directors of the company. Reported Earnings • Dec 03
Third quarter 2023 earnings released: ₩182 loss per share (vs ₩38.00 profit in 3Q 2022) Third quarter 2023 results: ₩182 loss per share (down from ₩38.00 profit in 3Q 2022). Revenue: ₩8.93b (down 47% from 3Q 2022). Net loss: ₩6.79b (down ₩7.85b from profit in 3Q 2022). Reported Earnings • Sep 01
Second quarter 2023 earnings released: ₩65.00 loss per share (vs ₩74.00 profit in 2Q 2022) Second quarter 2023 results: ₩65.00 loss per share (down from ₩74.00 profit in 2Q 2022). Revenue: ₩10.7b (down 42% from 2Q 2022). Net loss: ₩2.56b (down 217% from profit in 2Q 2022). Reported Earnings • Jun 02
First quarter 2023 earnings released: ₩128 loss per share (vs ₩12.00 profit in 1Q 2022) First quarter 2023 results: ₩128 loss per share (down from ₩12.00 profit in 1Q 2022). Revenue: ₩8.58b (down 38% from 1Q 2022). Net loss: ₩4.54b (down ₩4.88b from profit in 1Q 2022). Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩2,130, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 12x in the Auto Components industry in South Korea. Total loss to shareholders of 41% over the past three years. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₩2,635, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 9x in the Auto Components industry in South Korea. Total loss to shareholders of 41% over the past three years. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improved over the past week After last week's 18% share price gain to ₩2,410, the stock trades at a trailing P/E ratio of 12x. Average trailing P/E is 9x in the Auto Components industry in South Korea. Total loss to shareholders of 48% over the past three years. Reported Earnings • Oct 26
Third quarter 2022 earnings released: EPS: ₩38.00 (vs ₩23.00 in 3Q 2021) Third quarter 2022 results: EPS: ₩38.00 (up from ₩23.00 in 3Q 2021). Revenue: ₩17.0b (down 3.9% from 3Q 2021). Net income: ₩1.06b (up 36% from 3Q 2021). Profit margin: 6.2% (up from 4.4% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings.