New Risk • Jun 11
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₩15.3b (US$9.99m) 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 (20% average weekly change). Shareholders have been substantially diluted in the past year (98% increase in shares outstanding). Market cap is less than US$10m (₩15.3b market cap, or US$9.99m). Board Change • May 11
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. 5 experienced directors. No highly experienced directors. 2 independent directors (3 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: Minority of independent directors. Insufficient board refreshment. New Risk • Apr 26
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). Shareholders have been substantially diluted in the past year (98% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩35.9b market cap, or US$24.3m). Announcement • Apr 21
Billions Co.,Ltd. announced that it has received KRW 24.999999675 billion in funding from Humasis Co. Ltd. On April 20, 2026, Billions Co.,Ltd. has closed the transaction. Announcement • Mar 20
Billions Co.,Ltd. announced that it expects to receive KRW 25.00000044 billion in funding Billions Co.,Ltd. has announced a private placement to issue common stock of 39,215,688 at the price of KRW 225 for the gross proceeds of KRW 10,000,000,440 and Zero Coupon Series 7 Unregistered Interest Unsecured Private Convertible Bonds due April 27, 2029 for gross proceeds of KRW 15,000,000,000; aggregate gross proceeds of KRW 25,000,000,440 on March 19, 2026. The transaction involves the new investor participation of Supi Value Up New Technology Fund for 19,607,844 shares, Supi Synergy New Technology Fund for 19,607,844 shares. The transaction will happen through third party allocation. The transaction has been approved by the board of directors of the company. All the securities issued under the offering is subject to a hold period of 1 year from the date of issuance. The transaction is expected to close on April 27, 2026.
Series 7 bonds - The transaction will include participation from new investor JK New Technology Investment Fund No. 5. The transaction has been approved by the board of directors of the company. All the securities issued under the offering is subject to a hold period of 1 year from the date of issuance. The transaction is expected to close on April 27, 2026, bears zero coupon rate, 4% maturity rate and matures on April 27, 2029, 100% convertible into 49,833,887 shares at a fixed conversion price of KRW 301 from April 27, 2027 to April 20, 2029. New Risk • Mar 17
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 Risk Shareholders have been substantially diluted in the past year (98% 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 (₩22.3b market cap, or US$14.9m). Announcement • Feb 26
Billions Co.,Ltd., Annual General Meeting, Mar 30, 2026 Billions Co.,Ltd., Annual General Meeting, Mar 30, 2026, at 08:30 Tokyo Standard Time. Location: conference room, 375, sowol-ro, yongsan-gu, seoul South Korea New Risk • Sep 24
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 98% 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 (25% average weekly change). Shareholders have been substantially diluted in the past year (98% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩36.3b market cap, or US$26.0m). Announcement • Sep 11
Billions Co.,Ltd. has completed a Follow-on Equity Offering in the amount of KRW 10.48 billion. Billions Co.,Ltd. has completed a Follow-on Equity Offering in the amount of KRW 10.48 billion.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 37,105,011
Price\Range: KRW 262
Discount Per Security: KRW 4.716
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 2,894,989
Price\Range: KRW 262
Discount Per Security: KRW 4.716
Transaction Features: Rights Offering New Risk • Aug 06
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 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 (₩16.0b market cap, or US$11.5m). Board Change • Aug 06
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. 5 experienced directors. No highly experienced directors. 2 independent directors (3 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: Minority of independent directors. Insufficient board refreshment. New Risk • Jun 13
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₩13.1b (US$9.59m) 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 Risk Market cap is less than US$10m (₩13.1b market cap, or US$9.59m). Minor Risk Share price has been volatile over the past 3 months (9.8% average weekly change). Announcement • Jun 13
Billions Co.,Ltd. has filed a Follow-on Equity Offering in the amount of KRW 11.6 billion. Billions Co.,Ltd. has filed a Follow-on Equity Offering in the amount of KRW 11.6 billion.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 40,000,000
Price\Range: KRW 290
Transaction Features: Rights Offering Reported Earnings • Mar 15
Full year 2024 earnings released: ₩325 loss per share (vs ₩583 profit in FY 2023) Full year 2024 results: ₩325 loss per share (down from ₩583 profit in FY 2023). Revenue: ₩41.7b (up 44% from FY 2023). Net loss: ₩12.5b (down 165% from profit in FY 2023). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 50% per year, which means it is significantly lagging earnings. Announcement • Mar 06
Billions Co.,Ltd., Annual General Meeting, Mar 20, 2025 Billions Co.,Ltd., Annual General Meeting, Mar 20, 2025, at 09:30 Tokyo Standard Time. Location: conference room, 375, sowal-ro, yongsan-gu, seoul South Korea New Risk • Nov 05
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 9.7% 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 Less than 1 year of cash runway based on free cash flow trend (-₩16b free cash flow). Earnings have declined by 0.7% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.7% average weekly change). Shareholders have been diluted in the past year (19% increase in shares outstanding). Market cap is less than US$100m (₩26.6b market cap, or US$19.3m). New Risk • Aug 31
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: -₩16b 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 (-₩16b free cash flow). Earnings have declined by 0.7% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (19% increase in shares outstanding). Market cap is less than US$100m (₩27.9b market cap, or US$20.9m). Announcement • May 22
Humasis Co. Ltd. (KOSDAQ:A205470) completed the acquisition of 34.80% stake in BLADE Entertainment CO.,LTD. (KOSDAQ:A044480) from Metaplex Co., Ltd. and Flake Co., Ltd. Humasis Co. Ltd. (KOSDAQ:A205470) entered into an agreement to acquire 34.80% stake in BLADE Entertainment CO.,LTD. (KOSDAQ:A044480) from Metaplex Co., Ltd. and Flake Co., Ltd for KRW 48 billion on May 17, 2024. Transaction is expected to complete on May 21, 2024. Humasis Co. Ltd. (KOSDAQ:A205470) completed the acquisition of 34.80% stake in BLADE Entertainment CO.,LTD. (KOSDAQ:A044480) from Metaplex Co., Ltd. and Flake Co., Ltd on May 21, 2024. New Risk • May 17
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 10% 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 Earnings have declined by 23% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Shareholders have been diluted in the past year (5.4% increase in shares outstanding). Market cap is less than US$100m (₩45.7b market cap, or US$33.6m). Reported Earnings • Mar 30
Full year 2023 earnings released: ₩200 loss per share (vs ₩41.73 profit in FY 2022) Full year 2023 results: ₩200 loss per share (down from ₩41.73 profit in FY 2022). Revenue: ₩97.0b (up 37% from FY 2022). Net loss: ₩6.66b (down ₩8.01b from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. New Risk • Jul 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.4% 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 33% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (5.4% increase in shares outstanding). Market cap is less than US$100m (₩45.0b market cap, or US$35.3m). Announcement • Jul 06
BLADE Entertainment CO.,LTD. announced that it has received KRW 1.999999596 billion in funding On July 4, 2023, BLADE Entertainment CO.,LTD. closed the transaction. Announcement • Jun 22
BLADE Entertainment CO.,LTD. announced that it expects to receive KRW 1.999999596 billion in funding BLADE Entertainment CO.,LTD. announced that it will issue 1,536,098 common shares of par value, KRW 500 at a price of KRW 1,302 per share for gross proceeds of KRW 1,999,999,596 on June 21, 2023. The transaction will include participation from individual investor Sim, Hwa Seok. The company will issue shares through third party allocation increase. The payment date for shares is July 4, 2023. The dividend date for new shares is January 1, 2023. The transaction has been approved by board of directors of the company. The shares are subject to a mandatory hold period of one year. The total number of shares issued prior to transaction are 32,555,844 shares. Board Change • Nov 16
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. 5 experienced directors. No highly experienced directors. 2 independent directors (3 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: Minority of independent directors. Insufficient board refreshment. Board Change • Apr 27
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. 5 experienced directors. No highly experienced directors. 2 independent directors (3 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: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 16
Blueberry NFT CO.,LTD. announced that it has received KRW 9.999999625 billion in funding from Jangsan Co., Ltd. On April 15, 2021, Blueberry NFT CO.,LTD. (KOSDAQ:A044480) closed the transaction. Announcement • Mar 11
Kyung Nam Biopharma CO.,LTD. announced that it expects to receive KRW 9.999999625 billion in funding from Jangsan Co., Ltd. Kyung Nam Biopharma CO.,LTD. (KOSDAQ:A044480) announced a private placement of 5,194,805 common shares at an issue price of KRW 1,925 per share for gross proceeds of KRW 9,999,999,625 on March 10, 2021. The transaction will involve participation from existing investor, Jangsan Co., Ltd. The shares have face value of KRW 500. The shares are issued at a discount of 10%. The company will issue shares through third-party allotment method. Post the closing, the total number of shares issued by the company will increase from 20,127,806 shares to 25,322,611 shares. The shares will have one-year retention period. The payment date is April 15, 2021. The listing date is May 3, 2021. The transaction has been approved by the board of directors of the company. Is New 90 Day High Low • Mar 09
New 90-day low: ₩2,140 The company is down 39% from its price of ₩3,515 on 09 December 2020. The South Korean market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Personal Products industry, which is up 8.0% over the same period. Is New 90 Day High Low • Jan 29
New 90-day low: ₩3,000 The company is down 5.0% from its price of ₩3,170 on 30 October 2020. The South Korean market is up 33% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Personal Products industry, which is up 18% over the same period. Is New 90 Day High Low • Dec 16
New 90-day high: ₩3,895 The company is up 2.0% from its price of ₩3,815 on 17 September 2020. The South Korean market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Personal Products industry, which is up 8.0% over the same period. Is New 90 Day High Low • Oct 20
New 90-day low: ₩3,220 The company is down 41% from its price of ₩5,450 on 22 July 2020. The South Korean market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Personal Products industry, which is up 4.0% over the same period.