New Risk • Jun 11
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 16% 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 (16% average weekly change). Earnings have declined by 1.0% per year over the past 5 years. Shareholders have been substantially diluted in the past year (71% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩49.3b market cap, or US$32.2m). Announcement • May 06
CrowdWorks, Inc. has completed a Follow-on Equity Offering in the amount of KRW 999.99946 million. CrowdWorks, Inc. has completed a Follow-on Equity Offering in the amount of KRW 999.99946 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 297,265
Price\Range: KRW 3364
Transaction Features: Subsequent Direct Listing Announcement • Apr 29
CrowdWorks, Inc. has filed a Follow-on Equity Offering in the amount of KRW 999.99946 million. CrowdWorks, Inc. has filed a Follow-on Equity Offering in the amount of KRW 999.99946 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 297,265
Price\Range: KRW 3364
Transaction Features: Subsequent Direct Listing New Risk • Apr 14
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 13% 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: Major Risks Earnings have declined by 2.2% per year over the past 5 years. Shareholders have been substantially diluted in the past year (74% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (₩51.4b market cap, or US$34.9m). New Risk • Apr 03
New major risk - Revenue and earnings growth Earnings have declined by 2.2% 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 Earnings have declined by 2.2% per year over the past 5 years. Shareholders have been substantially diluted in the past year (74% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩38.1b market cap, or US$25.2m). Announcement • Mar 17
CrowdWorks, Inc., Annual General Meeting, Mar 31, 2026 CrowdWorks, Inc., Annual General Meeting, Mar 31, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 309, teheran-ro, gangnam-gu, seoul South Korea New Risk • Dec 16
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 8.3% 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: Major Risk Shareholders have been substantially diluted in the past year (52% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (8.3% average weekly change). Market cap is less than US$100m (₩65.4b market cap, or US$44.3m). 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: 64% 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 Share price has been highly volatile over the past 3 months (14% average weekly change). Shareholders have been substantially diluted in the past year (64% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩79.4b market cap, or US$57.0m). New Risk • Apr 04
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 14% 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 (-₩11b free cash flow). Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 7.7% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩60.9b market cap, or US$42.1m). New Risk • Mar 28
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: -₩11b 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 (-₩11b free cash flow). Earnings have declined by 7.7% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.1% average weekly change). Market cap is less than US$100m (₩55.4b market cap, or US$37.8m). Announcement • Mar 15
Crowdworks, Inc., Annual General Meeting, Mar 28, 2025 Crowdworks, Inc., Annual General Meeting, Mar 28, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 309, teheran-ro, gangnam-gu, seoul South Korea Board Change • Jan 24
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. New Risk • Sep 17
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 Risks No financial data reported. Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risks Shareholders have been diluted in the past year (4.0% increase in shares outstanding). Market cap is less than US$100m (₩47.6b market cap, or US$36.2m). Announcement • Aug 27
Crowdworks, Inc. announced that it has received KRW 3.00000157 billion in funding from Do Ri Yoon Co., Ltd. and other investors On August 26, 2024, Crowdworks, Inc. closed the transaction. Announcement • Aug 07
Crowdworks, Inc. announced that it expects to receive KRW 3.00000157 billion in funding from Do Ri Yoon Co., Ltd. and other investors Crowdworks, Inc. announced a private placement to issue 252,313 common shares at an issue price of KRW 11,890 per share for the gross proceeds of KRW 3,000,001,570 on August 6, 2024. The transaction will include participation from new and returning investors Park Min-woo 105,134 shares, Do Ri Yoon Co., Ltd. 84,104 shares, Kim Woo Seung 16,820 shares, Song In-su 16,820 shares, Seo Hee-na 16,820 shares and Chung Sang-myeon 12,615 shares. The transaction has been approved by shareholders, restricted to a hold period and is expected to close on August 26, 2024. New Risk • Jun 10
New major risk - Revenue and earnings growth Earnings have declined by 16% 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 Risk Earnings have declined by 16% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.5% average weekly change). Market cap is less than US$100m (₩88.6b market cap, or US$64.2m). New Risk • Apr 02
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩134.0b (US$99.2m) This is considered a minor 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 Risk Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risk Market cap is less than US$100m (₩134.0b market cap, or US$99.2m). New Risk • Oct 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩127.7b (US$94.9m) This is considered a minor 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 No financial data reported. Shares are highly illiquid. Minor Risk Market cap is less than US$100m (₩127.7b market cap, or US$94.9m). New Risk • Oct 01
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 Risks No financial data reported. Shares are highly illiquid. New Risk • Sep 19
New major risk - Negative shareholders equity The company has negative equity. Total equity: -₩26b This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Negative equity (-₩26b). Minor Risk Less than 3 years of financial data is available.