New Risk • Jun 08
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 Polish 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 Risks Less than 1 year of cash runway based on free cash flow trend (-zł23k free cash flow). Earnings have declined by 28% per year over the past 5 years. Revenue is less than US$1m (zł50k revenue, or US$14k). Market cap is less than US$10m (zł3.65m market cap, or US$991.2k). Minor Risk Share price has been volatile over the past 3 months (8.3% average weekly change). Announcement • Jun 05
True Games Syndicate S.A., Annual General Meeting, Jun 30, 2026 True Games Syndicate S.A., Annual General Meeting, Jun 30, 2026. Announcement • Nov 10
True Games Syndicate S.A. to Report Q3, 2025 Results on Nov 12, 2025 True Games Syndicate S.A. announced that they will report Q3, 2025 results on Nov 12, 2025 New Risk • Aug 28
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 Polish stocks, typically moving 6.8% 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 (-zł7.1k free cash flow). Earnings have declined by 42% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (zł6.63m market cap, or US$1.82m). Minor Risk Share price has been volatile over the past 3 months (6.8% average weekly change). New Risk • Aug 18
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: -zł7.1k 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 (-zł7.1k free cash flow). Earnings have declined by 42% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (zł6.84m market cap, or US$1.88m). New Risk • Mar 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 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 (-zł215k free cash flow). Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 58% per year over the past 5 years. Revenue is less than US$1m (zł1.0k revenue, or US$247). Market cap is less than US$10m (zł10.4m market cap, or US$2.58m). Minor Risk Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Announcement • May 25
True Games Syndicate S.A., Annual General Meeting, Jun 18, 2024 True Games Syndicate S.A., Annual General Meeting, Jun 18, 2024. New Risk • May 20
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: -zł334k 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 (-zł334k free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 62% per year over the past 5 years. Revenue is less than US$1m (zł1.5k revenue, or US$383). Market cap is less than US$10m (zł9.12m market cap, or US$2.33m). New Risk • Nov 22
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: -zł368k 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 (-zł368k free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 68% per year over the past 5 years. Revenue is less than US$1m (zł1.5k revenue, or US$373). Market cap is less than US$10m (zł9.85m market cap, or US$2.45m). New Risk • Aug 14
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -zł378k This is considered a minor 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 Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 70% per year over the past 5 years. Revenue is less than US$1m (zł500 revenue, or US$123). Market cap is less than US$10m (zł9.03m market cap, or US$2.21m). Minor Risks Less than 1 year of cash runway based on current free cash flow (-zł378k). Shareholders have been diluted in the past year (29% increase in shares outstanding). Announcement • Jun 02
True Games Syndicate S.A., Annual General Meeting, Jun 26, 2023 True Games Syndicate S.A., Annual General Meeting, Jun 26, 2023, at 14:00 Central European Standard Time. Announcement • Jun 08
True Games Syndicate S.A., Annual General Meeting, Jun 30, 2022 True Games Syndicate S.A., Annual General Meeting, Jun 30, 2022, at 14:00 Central European Standard Time. Reported Earnings • Feb 14
Full year 2020 earnings released: zł0.059 loss per share (vs zł0.021 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: zł1.65m (down 20% from FY 2019). Net loss: zł438.3k (loss widened 189% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 96% per year but the company’s share price has increased by 132% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Jan 05
New 90-day high: zł2.16 The company is up 559% from its price of zł0.33 on 07 October 2020. The Polish market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Retail Distributors industry, which is up 3.0% over the same period. Is New 90 Day High Low • Dec 03
New 90-day high: zł0.39 The company is up 62% from its price of zł0.24 on 04 September 2020. The Polish market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Retail Distributors industry, which is down 4.0% over the same period. Is New 90 Day High Low • Sep 22
New 90-day high: zł0.38 The company is up 19% from its price of zł0.32 on 24 June 2020. The Polish market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Retail Distributors industry, which is up 14% over the same period. 
