New Risk • May 29
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: -CA$1.6m 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 (-CA$1.6m free cash flow). Share price has been highly volatile over the past 3 months (21% average weekly change). Shareholders have been substantially diluted in the past year (46% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$6.36m market cap, or US$4.61m). Reported Earnings • May 24
Second quarter 2026 earnings released: CA$0.015 loss per share (vs CA$0.024 loss in 2Q 2025) Second quarter 2026 results: CA$0.015 loss per share (improved from CA$0.024 loss in 2Q 2025). Net loss: CA$706.1k (loss narrowed 9.7% from 2Q 2025). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has fallen by 53% per year, which means it is significantly lagging earnings. 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 Canadian stocks, typically moving 15% 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 Shareholders have been substantially diluted in the past year (46% increase in shares outstanding). Revenue is less than US$1m (CA$252k revenue, or US$183k). Market cap is less than US$10m (CA$4.71m market cap, or US$3.42m). Minor Risk Share price has been volatile over the past 3 months (15% average weekly change). Board Change • Apr 09
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Director Akshay D’Souza is the most experienced director on the board, commencing their role in 2026. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Feb 06
Independent Director recently bought CA$56k worth of stock On the 29th of January, Gregory Van Staveren bought around 521k shares on-market at roughly CA$0.11 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$440k more in shares than they have sold in the last 12 months. Duyuru • Feb 06
Scryb Inc., Annual General Meeting, Mar 31, 2026 Scryb Inc., Annual General Meeting, Mar 31, 2026. Reported Earnings • Feb 03
Full year 2025 earnings released: EPS: CA$0.14 (vs CA$0.53 loss in FY 2024) Full year 2025 results: EPS: CA$0.14 (up from CA$0.53 loss in FY 2024). Net income: CA$4.47m (up CA$18.8m from FY 2024). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 57% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Feb 01
Independent Director recently bought CA$56k worth of stock On the 29th of January, Gregory Van Staveren bought around 521k shares on-market at roughly CA$0.11 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$440k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Nov 07
President recently bought CA$313k worth of stock On the 30th of October, Daniel Proska bought around 25k shares on-market at roughly CA$12.53 per share. This transaction amounted to 1.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Daniel has been a buyer over the last 12 months, purchasing a net total of CA$331k worth in shares. New Risk • Oct 08
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 62% 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 (38% average weekly change). High level of non-cash earnings (168% accrual ratio). Shareholders have been substantially diluted in the past year (62% increase in shares outstanding). Revenue is less than US$1m (CA$727k revenue, or US$521k). Market cap is less than US$10m (CA$5.17m market cap, or US$3.71m). Duyuru • Sep 27
Scryb Inc. announced that it has received CAD 1.5 million in funding On September 26, 2025, the company closed the transaction. Duyuru • Sep 18
Scryb Inc. announced that it expects to receive CAD 0.6 million in funding Scryb Inc. announced a non-brokered private placement of up to 6,000,000 units at a price of CAD 0.10 per Unit, for gross proceeds of up to CAD 600,000 on September 17, 2025. Each Unit will consist of one common share (a "Common Share") and one half of one common share purchase warrant (each a full warrant a "Warrant"). Each Warrant entitles the holder to purchase one Common Share of the Company at a price of CAD 0.18 for a period of eighteen months after closing. The Company may pay a cash finder's fee to certain registered finders (each a "Finder") of up to 7% of the aggregate gross proceeds of subscriptions facilitated by such Finders; and (issue such number of finder's warrants (a "Finder's Warrant") that is equal to up to 7% of the number of Units sourced by the Finder, with each Finder's Warrant entitling the holder thereof to purchase one Common Share (a "Finder's Warrant Share") at an exercise price of CAD 0.18 per Finder's Warrant Share for a period of 18 months following the closing date of the Offering. The securities issued pursuant to the Offering will be subject to a hold period of four months plus one day from the date of closing in accordance with applicable securities laws and the policies of the Canadian Securities Exchange. Reported Earnings • Aug 31
Third quarter 2025 earnings released: CA$0.004 loss per share (vs CA$0.032 loss in 3Q 2024) Third quarter 2025 results: CA$0.004 loss per share. Revenue: CA$107.7k (up CA$99.4k from 3Q 2024). Net loss: CA$1.24m (loss widened 38% from 3Q 2024). New Risk • Jun 08
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: CA$1.1m (US$807k) This is considered a major 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 (49% average weekly change). High level of non-cash earnings (71% accrual ratio). Revenue is less than US$1m (CA$1.1m revenue, or US$807k). Market cap is less than US$10m (CA$3.23m market cap, or US$2.36m). New Risk • Jun 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: -CA$4.8m 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 (-CA$4.8m free cash flow). Share price has been highly volatile over the past 3 months (51% average weekly change). Earnings have declined by 2.4% per year over the past 5 years. Market cap is less than US$10m (CA$3.23m market cap, or US$2.36m). Minor Risk Revenue is less than US$5m (CA$1.9m revenue, or US$1.4m). Reported Earnings • Jun 02
Second quarter 2025 earnings released: CA$0.002 loss per share (vs CA$0.003 profit in 2Q 2024) Second quarter 2025 results: CA$0.002 loss per share (down from CA$0.003 profit in 2Q 2024). Net loss: CA$781.7k (down 201% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 59% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 04
First quarter 2025 earnings released: CA$0.005 loss per share (vs CA$0.011 loss in 1Q 2024) First quarter 2025 results: CA$0.005 loss per share (improved from CA$0.011 loss in 1Q 2024). Revenue: CA$224.9k (down 54% from 1Q 2024). Net loss: CA$1.62m (loss narrowed 44% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 56% per year, which means it is significantly lagging earnings. New Risk • Jan 29
New major risk - Negative shareholders equity The company has negative equity. Total equity: -CA$1.7m 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 Share price has been highly volatile over the past 3 months (40% average weekly change). Negative equity (-CA$1.7m). Earnings have declined by 11% per year over the past 5 years. Market cap is less than US$10m (CA$4.81m market cap, or US$3.33m). Minor Risks Shareholders have been diluted in the past year (25% increase in shares outstanding). Revenue is less than US$5m (CA$1.8m revenue, or US$1.3m). Duyuru • Jan 06
Scryb Inc. announced that it expects to receive CAD 2 million in funding Scryb Inc. announced a non-brokered private placement on January 5, 2025. The company will issue secured convertible debentures for gross proceeds of up to CAD 2,000,000. The Debentures will bear interest at an annual rate of 12% and the outstanding principal and interest can be converted into common shares of the Company at a conversion price of CAD 0.05 per Share. The Debentures will mature two years from the date of issuance, except for the debenture issued to an affiliate of Plaza Capital, the lead investor in the Offering, which will mature one year from the date of issuance. The Company may pay a cash finder's fee to certain eligible finders of up to 7% of the aggregate gross proceeds of the Offering facilitated by such finders. All securities issued will be subject to a four month and one day hold as required under applicable securities laws. Duyuru • Dec 11
An unknown buyer acquired an unknown stake in Fionet Rapid Response Group Inc. from Scryb Inc. (CNSX:SCYB) for CAD 4.3 million. An unknown buyer acquired an unknown stake in Fionet Rapid Response Group Inc. from Scryb Inc. (CNSX:SCYB) for CAD 4.3 million on December 6, 2024.
An unknown buyer completed the acquisition of an unknown stake in Fionet Rapid Response Group Inc. from Scryb Inc. (CNSX:SCYB) on December 6, 2024. Duyuru • Nov 07
Scryb Inc. announced that it has received CAD 0.7424 million in funding On November 6, 2024, Scryb Inc. closed the transaction. The company issued 29,696,000 units at a price of CAD 0.025 per unit for gross proceeds of CAD 742,400. Reported Earnings • Sep 01
Third quarter 2024 earnings released: CA$0.003 loss per share (vs CA$0.019 loss in 3Q 2023) Third quarter 2024 results: CA$0.003 loss per share (improved from CA$0.019 loss in 3Q 2023). Revenue: CA$8.2k (down 98% from 3Q 2023). Net loss: CA$894.4k (loss narrowed 81% from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 55% per year, which means it is significantly lagging earnings. Duyuru • Aug 07
Scryb Inc. announced that it expects to receive CAD 1 million in funding Scryb Inc. announced a non brokered private placement financing to issue 40,000,000 units at an issue price of CAD 0.025 per Unit for the gross proceeds of CAD 1,000,000 on August 6, 2024. Each Unit shall be comprised of one common share and one whole Common Share purchase warrant. Each Warrant entitles the holder thereof to acquire one Common Share at a price of CAD 0.05 per Common Share until the date that is eighteen months from the date of issuance. Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of Canadian Securities Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. Reported Earnings • Jun 04
Second quarter 2024 earnings released: CA$0.016 loss per share (vs CA$0.007 loss in 2Q 2023) Second quarter 2024 results: CA$0.016 loss per share (further deteriorated from CA$0.007 loss in 2Q 2023). Revenue: CA$492.8k (down 23% from 2Q 2023). Net loss: CA$4.05m (loss widened 153% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 50% per year, which means it is significantly lagging earnings. New Risk • Jun 03
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 13% 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 Share price has been highly volatile over the past 3 months (28% average weekly change). Earnings have declined by 20% per year over the past 5 years. Market cap is less than US$10m (CA$7.28m market cap, or US$5.34m). Minor Risks Shareholders have been diluted in the past year (13% increase in shares outstanding). Revenue is less than US$5m (CA$2.0m revenue, or US$1.5m). Duyuru • Apr 02
Scryb Inc. announced that it expects to receive CAD 1.5 million in funding Scryb Inc. announced a non-brokered private placement financing to issue 60,000,000 units at an issue price of CAD 0.025 per unit for the gross proceeds of CAD 1,500,000 on April 1, 2024. Each Unit shall be comprised of one common share and one whole Common Share purchase warrant. Each Warrant entitles the holder thereof to acquire one Common Share at a price of CAD 0.05 per Common Share until the date that is eighteen months from the date of issuance. Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of Canadian Securities Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. Duyuru • Mar 13
Scryb Inc. Announces Board of Directors Changes Scryb Inc. announced the appointment of Yoav Raiter to its Board of Directors, effective immediately. Yoav remains the Chief Executive Officer of Scryb. In addition, the Company announced that Mr. Medhanie Tekeste has resigned as a Director of Scryb. Reported Earnings • Mar 03
First quarter 2024 earnings released: CA$0.011 loss per share (vs CA$0.036 loss in 1Q 2023) First quarter 2024 results: CA$0.011 loss per share (improved from CA$0.036 loss in 1Q 2023). Revenue: CA$485.2k (up 343% from 1Q 2023). Net loss: CA$2.90m (loss narrowed 66% from 1Q 2023). Board Change • Mar 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 11 experienced directors. 1 highly experienced director. President & Director W. Kent was the last 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: Insufficient board refreshment. Duyuru • Feb 29
Scryb Inc., Annual General Meeting, Apr 23, 2024 Scryb Inc., Annual General Meeting, Apr 23, 2024. Reported Earnings • Feb 05
Full year 2023 earnings released: CA$0.08 loss per share (vs CA$0.046 loss in FY 2022) Full year 2023 results: CA$0.08 loss per share (further deteriorated from CA$0.046 loss in FY 2022). Revenue: CA$1.59m (up 138% from FY 2022). Net loss: CA$19.8m (loss widened 77% from FY 2022). New Risk • Oct 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 Canadian stocks, typically moving 12% 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 (-CA$15m free cash flow). Earnings have declined by 21% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (7.3% increase in shares outstanding). Revenue is less than US$5m (CA$1.6m revenue, or US$1.1m). Market cap is less than US$100m (CA$14.2m market cap, or US$10.3m). New Risk • Oct 01
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$12.9m (US$9.47m) 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$15m free cash flow). Earnings have declined by 21% per year over the past 5 years. Market cap is less than US$10m (CA$12.9m market cap, or US$9.47m). Minor Risks Shareholders have been diluted in the past year (7.3% increase in shares outstanding). Revenue is less than US$5m (CA$1.6m revenue, or US$1.2m). Reported Earnings • Sep 03
Third quarter 2023 earnings released: CA$0.019 loss per share (vs CA$0.018 loss in 3Q 2022) Third quarter 2023 results: CA$0.019 loss per share (further deteriorated from CA$0.018 loss in 3Q 2022). Net loss: CA$4.71m (loss widened 11% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings. New Risk • Jul 09
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 Canadian stocks, typically moving 12% 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 21% per year over the past 5 years. Revenue is less than US$1m (CA$1.3m revenue, or US$964k). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (7.2% increase in shares outstanding). Market cap is less than US$100m (CA$23.1m market cap, or US$17.4m). Reported Earnings • Jun 02
Second quarter 2023 earnings released: CA$0.007 loss per share (vs CA$0.011 loss in 2Q 2022) Second quarter 2023 results: CA$0.007 loss per share (improved from CA$0.011 loss in 2Q 2022). Net loss: CA$1.60m (loss narrowed 38% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Duyuru • May 11
Scryb Inc. announced that it has received CAD 2.165 million in funding On May 10, 2023, Scryb Inc. closed the transaction. The company amended the terms of the transaction. The company issued 6,765,000 units at an issue price of CAD 0.125 per unit for gross proceeds of CAD 845,625 in its second and final tranche. The company has issued 17,320,000 units for gross proceeds of CAD 2,165,000. The company paid finder's fees of CAD 7,500 and issued 60,000 units. Duyuru • Dec 10
Scryb Inc., Annual General Meeting, Feb 22, 2023 Scryb Inc., Annual General Meeting, Feb 22, 2023. Board Change • Nov 16
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 3 experienced directors. 1 highly experienced director. Independent Director Mike Minder is the most experienced director on the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Apr 27
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 4 experienced directors. No highly experienced directors. Independent Director Mike Minder is the most experienced director on the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Duyuru • Apr 07
Scryb Inc. Appoints Bob Lyle as Chief Revenue Officer Scryb Inc. announced the appointment of Mr. Bob Lyle, as chief revenue officer (CRO) of the company's Cybeats cybersecurity platform. As CRO, Bob is responsible for leading sales initiatives related to both Cybeats product lines and his appointment is effective immediately. For over 25 years, Mr. Lyle has led high-performing sales teams and fast-growing companies in the US and international, holding executive leadership positions at cybersecurity companies including Absolute Software Corporation. Bob recently served as Senior Vice President at SpyCloud. Duyuru • Mar 03
Scryb Inc. Appoints Nicolas Chaillan as Special Advisor Scryb Inc. announced the appointment of Mr. Nicolas Chaillan, former Chief Architect for Cyber.gov of the Department of Homeland Security (DHS) and Chief Software Officer for the U.S. Air Force and Space Force, as a Special Advisor to the Company. Mr. Chaillan comes to the Company with over 22 years of international technology, entrepreneurial and management experience spanning both public and private sectors. While at DHS, he designed Cyber.gov, the new robust, innovative and holistic '.gov' cybersecurity architecture that sought to mitigate cyber threats. Chaillan created and deployed the large Zero Trust implementation in the U.S government and brought DevSecOps DoD-wide, saving 100-years of time within 18 months and billions of taxpayer money. Nicolas has extensive experience securing complex networks and driving innovative digital transformation. At the U.S. Air Force, Mr. Chaillan was responsible for establishing force-wide DevSecOps capabilities and best practices, including continuous Authority to Operate processes and faster streamlined technology adoption. Duyuru • Aug 26
Relay Medical Corp Develops Home and Small Business Mobile Testing Solution Relay Medical Corp. reported on the development of a new home and small business testing system based on the Company’s Pharmatrac platform. The universal device and mobile app allow for use of lateral flow diagnostic kits, including COVID-19 antigen and antibody tests. The new mobile application and device shares the intellectual property and technology synergies between Relay’s medication management device, Pharmatrac, and FRR’s rapid testing and tracking platform, Fionet, which has recently been deployed in a wide variety of settings including Airports1, Sporting Events2, and with USAID to 144 remote locations in Africa.3 The Company is now involved in discussions and early-stage engagements with potential strategic partners while continuing product development, conducting demos, small pilots, and internal trials to refine custom applications specific to industry and regional integrations. Relay brings together the capabilities of its medication management device, Pharmatrac, with FRR’s Fionet cloud-based rapid testing and tracking platform to introduce an inexpensive and user-friendly home, small business, and community testing system accessible by mobile app or Pharmatrac device. The new mobile and device application utilizes the core machine vision and AI functionalities of Pharmatrac to improve testing compliance and quality in moderate throughput settings. In many regions, home testing is not approved due to concerns from health authorities over compliance to testing protocols by users. Relay and FRR bring together the complementary technologies to minimize compliance risk, ensure adherence to proper Instructions For Use (IFU) of the test, and deliver lab-quality results in remote locations. The platform also enables remote healthcare professionals to review and interpret results while increasing patient accessibility and guidance if further action is required. This compliments the Fionet high throughput solution based on the Deki device, which is designed to process large volumes at the capacity of 60 tests an hour for high density settings such as testing centers, large workplaces, entertainment events and travel ports. How the Home Testing Platform Works: Users receive a package to their home or small business containing the test kit(s) with instructions, The kit includes a home appliance that is used to capture the image of the lateral flow test, Users scan a QR code with their mobile device to open a web portal that walks them through the process of self-administering the test, Users then place the lateral flow test in the appliance and an image is captured, The image is analyzed using a proprietary machine vision algorithm to determine the result which is then confirmed by a trained healthcare professional, Users receive a notification of the test result and information if any further action is required, Users can use the electronic receipt to show their result as needed and Results can also be reported to appropriate health authorities with advanced data analytics. Duyuru • May 22
Relay Medical Corp. Completes Integration of Cybeats Cybersecurity Platform and Commences Scale-up of Commercial Operations Relay Medical Corp. reported on completing the integration of its newly acquired Cybeats Technologies, and commences commercial scale-out. Relay completed the acquisition of Cybeats in late March 2021, and has since been engaged in the integration of the Company and scale-up of the platform solution to address market interest. Significant to this transaction, there has been increased global attention to SBOM and the need to track and monitor the supply chain of software, as mandated by the May 12, 2021 Whitehouse EO. The Company has quickly expanded the development team to accelerate the commercialization of Cybeats and increased business development resources to support sales activities. The Cybeats platform is now commercially available with three pilots underway. Initial pilots include two mid-sized companies based in North America, and a multinational IoT company, from different market segments. Cybeats’ SBOM Studio™ product allows for the monitoring and analysis of cybersecurity on all components during the design and manufacturing stage ensuring connected devices have been developed with secure software components (“Security by Design”) and at the top level of security before it is introduced commercially to the market. Once devices are deployed the Cybeats agent continues to monitor and protect the health of the device to ensure that future attacks are identified and nullified automatically. Cybeats’ advanced security platform had been designed to protect high-valued connected IoT and operational technology (OT) including medical, critical infrastructure, industrial equipment, aerospace, telecom, and automotive devices. Cybeats’ solution is integrated within the device, and combines threat intelligence expertise with situational awareness to detect and eliminate attacks within seconds and warn security professionals in real time, all while ensuring critical operation of the breached device continues without disruption. The Cybeats IoT security platform’s capabilities span across detecting and mitigating attacks instantly, to enabling device makers to identify and fix security flaws during the product’s design phase, and empowering end users with fleet management tools such as secure firmware updates. The platform is centered around an easy-to-use dashboard for early discovery of vulnerabilities during development and supports delivering a reliable device aligned with principles of security by design. Manufacturers can seamlessly integrate the platform in a way that allows them to monetize cybersecurity services and provide valuable security insights to front line security professionals, reducing overhead and automating forensics data collection for remote analysis of malicious attacks. This allows Cybeats’ customers to build a high level of security into the device in a timely and cost-efficient manner. High-profile cyber attacks such as those on the Colonial Pipeline,6 SolarWinds,7 and on Tesla8 from recent headline news have struck a chord. The SolarWinds breach alone affected at least 100 U.S companies, 9 federal agencies, and 6 EU institutions; highlights the urgent need for effective cybersecurity enforcement for business and critical infrastructure worldwide. The FDA has indicated that cybersecurity of medical devices will be a key aspect of approvals moving forward to protect patients and privacy. Further to that, with the advance of telehealth and remote diagnostic devices during COVID-19, the market for medical cybersecurity is expected to grow significantly. In an urgent and necessary response, Joe Biden set forth an Executive Order to protect the Nation’s cybersecurity. The mandate marks cybersecurity as a top priority to the Federal Government, leading all Federal Information Systems to exceed the standards and minimum requirements set forth by the order. The Order’s primary mandate is to enhance the integrity of software supply chains by requiring a Software Bill of Materials (SBOM); a solution that is already at the core of the Cybeats’ platform.11 Following the lead of the Biden administration, regulatory bodies in Europe are also accelerating the pace of requirements adoption; pushing manufacturers of IoT devices to secure ‘smart’ consumer products connected to the Internet, like televisions, cameras, wearable fitness trackers, smart home assistants, and household appliances. A new regulatory requirement of the UK government obligates IoT manufacturers to inform customers about the duration of time for which a smart device will receive necessary security software updates.12 The rapidly growing IoT security market is on course for $73 Billion at a 31% CAGR,13 further fueled by the May 12Whitehouse mandate. The pace of adopting IoT connected devices is expected to triple to 55 billion by 2025.14 Many of these connected devices are built with vulnerabilities to malware attacks because they are not designed with SBOM or modern attacks in mind. Cybeats is poised to capitalize on the immediate market need and newly mandated security requirements. Duyuru • Mar 19
Relay Medical Corp. (CNSX:RELA) completed the acquisition of Cybeats Technologies Inc. Relay Medical Corp. (CNSX:RELA) entered into a binding share exchange agreement to acquire Cybeats Technologies Inc. for CAD 15.5 million on March 3, 2021. On close of the transaction Cybeats will become a wholly owned subsidiary of Relay. In conjunction with the transaction, Cybeats Co-Founder and Chief Executive Officer, Dmitry Raidman, will be appointed Chief Technology Officer of Cybeats. At the time of closing, Relay Medical shall pay an amount of $500,000 in cash, and the issuance of 9,311,475 common shares of Relay Medical. On the date that is 120 days after closing, Relay shall have the option to satisfy $1,000,000 of the remaining purchase price either by way of issuance of 1,639,344 common shares of Relay Medical at a deemed price of $0.61 (together with the shares issued on closing, the or by way of cash, or a combination of both. In addition to the purchase price described above, Relay Medical shall also issue to Cybeats shareholders a number of additional common shares for a maximum aggregate value of up to $6,720,000 on the 18, 30 and 42 month anniversaries of the closing date provided that Cybeats meets certain gross revenue milestones in accordance with the terms of the share exchange agreement.
Relay Medical Corp. (CNSX:RELA) completed the acquisition of Cybeats Technologies Inc. on March 18, 2021. Duyuru • Mar 12
Relay Medical Corp. & Fio Corporation Execute Agreement to Provide COVID-19 Rapid Testing at Toronto Pearson International Airport Relay Medical Corp. (Relay or the Company) and Fio Corporation (Fio) – together through their joint venture company Fionet Rapid Response Group Inc. (FRR) announced that further to its press release on February 24, FRR and the Greater Toronto Airports Authority (GTAA) have executed the aforementioned agreement which sees the Fionet Pandemic Management Platform deployed for on-site COVID-19 rapid testing and real-time reporting at Toronto - Lester B. Pearson International Airport (“Toronto Pearson”). This multi-million-dollar program, with direct application to testing staff and restoring flights departing Toronto Pearson, is funded by the Government of Canada through the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP). Under the agreement, the Fionet Platform has been deployed at Toronto Pearson to manage COVID-19 testing for airport employees and international departing passengers. Employee antigen testing commenced on March 8, 2021. The commercial terms of Fionet’s deployment include a per-test charge. The US CDC (Centers for Disease Control and Prevention) announced an Order requiring all air passengers arriving to the US from a foreign country to get tested before their flight departs and to present the negative result to the airline before boarding the flight. Similar orders have been announced in multiple international destinations. The Fionet Platform will enable meeting this requirement. To provide professional healthcare staff to administer tests and operate diagnostic devices, FRR has entered into an agreement with OnPoint1 Health. For certain medical oversight of the project, FRR has entered into an agreement with Medevaq Inc. The testing program utilizes Fionet’s high-throughput testing solution, including multiple mobile point-of-need devices connected in real-time to cloud data services, processing high quantities of rapid antigen tests per hour and capable of turning around test results within 20 minutes. The Fionet Platform will also manage passenger scheduling, rapid test processing, real-time results reporting, integration with LuminUltra PCR devices, Response Biomedical antigen rapid diagnostic tests (RDTs) and devices, Abbott Panbio antigen RDTs, and all corresponding data and messaging flows. The Fionet Platform will enable easy passenger scheduling and registration from mobile phones followed by coordinated mass testing, while continuously capturing and securely transmitting test results, with full privacy protection. With this project, FRR is well-positioned to capitalize on the growing demand for mass scale rapid COVID-19 testing solutions in industries that have been crippled by restrictions due to the pandemic. There is growing pressure to ramp up rapid testing capacity at places like airports, border crossings, cruise ships, arenas, workplaces, and schools. This has become increasingly important with multiple reports of a new, faster spreading COVID-19 variant making its ways around the world. Duyuru • Feb 27
Relay Medical Corp., Annual General Meeting, Apr 27, 2021 Relay Medical Corp., Annual General Meeting, Apr 27, 2021. Duyuru • Feb 25
Relay Medical & Fio Corporation to Deploy Fionet Covid-19 Rapid Testing Platform At Toronto Pearson International Airport Relay Medical Corp. announced that the Greater Toronto Airports Authority (GTAA) has engaged FRR to deploy the Fionet Platform for on-site COVID-19 rapid testing and real-time reporting at Toronto - Lester B. Pearson International Airport ("Toronto Pearson"). The testing program is set to commence March 1, 2021 in support of multiple research studies supported in part by funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP). Under the terms of the engagement, starting March 1, 2021 the Fionet digital workflow, testing, and data infrastructure will be deployed at Toronto Pearson to help manage COVID-19 testing for both passengers and employees. Commercial terms have been agreed to and the parties expect to execute definitive agreements by the announced start date. A further announcement will be made upon execution of the definitive agreements. The Fionet Platform will manage patient scheduling, rapid test processing, real-time results reporting, integration with LuminUltra PCR devices, Response Biomedical antigen rapid diagnostic tests (RDTs) and devices, Abbott Panbio antigen RDTs, and all corresponding data and messaging flows. Fionet's high-throughput testing solution, including multiple mobile point-of-need devices connected in real-time to cloud data-services, the deployment will be capable of supporting mass testing in a high-volume commercial environment. The program will use Abbott's Panbio rapid antigen test, provided by the Province of Ontario. The Fionet Platform will enable easy passenger scheduling and registration from mobile phones followed by coordinated mass testing, while continuously capturing and securely transmitting test results, with full privacy protection. To provide professional healthcare staff to administer tests and operate diagnostic devices, FRR is contracting OnPoint1 Health. For medical oversight of the project, FRR is contracting Medevaq Inc., headed Dr. Eddie Wasser, Chief Medical Officer of the GTAA. Duyuru • Feb 09
Relay Medical Corp. Announces Board Changes Relay Medical Corp. provided an update on new appointments and operations related to its Fionet Rapid Response Group ("FRR") venture and Pharmatrac product lines. Relay Medical announced the appointment of Ian Fine as Vice-President of R&D of Relay Medical and Chief Technology Officer of Fionet Rapid Response Group. The Company announced the joining of W. Clark Kent to the Relay Medical Board of Directors. Since January 2018 Clark has served as the President of the Company, and additionally acts as CEO of Glow LifeTech Ltd. In conjunction with Mr. Kent's appointment, Gerard Edwards will step down from the Relay Medical Board of Directors. Warren Smulowitz Joins Strategic Advisory Board. Mr. Smulowitz will advise on corporate finance and business development matters. In 2013 Mr. Smulowitz relocated back to Toronto from New York City to lead a Wealth Management and Investment Banking practice at the Bank of Montreal. He specialized in a hybrid investment banking while concentrating on alternative asset allocations, private equity investments, cash management and investment due diligence. Is New 90 Day High Low • Jan 28
New 90-day high: CA$0.37 The company is up 64% from its price of CA$0.23 on 29 October 2020. The Canadian market is up 18% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Medical Equipment industry, which is up 74% over the same period. Duyuru • Jan 22
Relay Medical and Fio Corporation Announce Launch of High-Throughput COVID-19 Rapid Testing Solution Relay Medical Corp. and Fio Corporation (Fio) together Fionet Rapid Response Group (FRR) announced the launch of its high-throughput COVID-19 rapid testing solution, using its Fionet technology, to administer on-site COVID-19 rapid testing and real-time tracking in high-volume settings like airports, sports & entertainment events, workplaces and schools. Fionet’s high-throughput COVID-19 testing & tracking solution is a complete toolkit enabling rapid testing in high-volume settings using antigen-based rapid diagnostic tests (RDTs). The high-throughput toolkit acts as a “mobile testing lab”, enabling efficient onsite processing of RDTs, data capture and reporting in a variety of community-settings. A single modular processing setup, with optimized workflows, requires two Fionet mobile testing devices, 2 personnel, and tabletop accessories to process up to 100 rapid antigen tests per hour. The flexibility of Fionet allows output to easily be scaled to handle over 1,000 tests per hour with additional devices and personnel, making it a solution for nearly any type of RDT testing program. In addition, the solution is designed to turn around test results in as little as 20 minutes, for minimal wait times and disruptions to travel journeys. With this solution, FRR is well positioned to capitalize on the growing opportunity for rapid COVID-19 testing solutions in industries that have been crippled by restrictions due to the pandemic. There is growing pressure to ramp up rapid testing capacity at places like airports, cruise ships, arenas, workplaces, and schools. This has become increasingly important with multiple reports of a new, faster spreading COVID-19 variant making its ways around the world. Is New 90 Day High Low • Dec 30
New 90-day high: CA$0.27 The company is up 10.0% from its price of CA$0.24 on 30 September 2020. The Canadian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 21% over the same period. Duyuru • Dec 23
Relay Medical Corp. Appoints Derek Ivany to Strategic Advisory Board Relay Medical Corp. announced the appointment of Derek Ivany to the company's Advisory Board. Mr. Ivany will advise Relay on corporate development, mergers, acquisitions, and other strategic initiatives. Mr. Ivany was most recently the President and CEO of a publicly traded company that, during his tenure, expanded in valuation from $2 million in market capitalization to over $250 million at its zenith while generating significant investor liquidity along the way. Over the last year he has raised an additional $10 million in both the biotech space where he launched a publicly traded company Pilz BioScience focused on Autism Spectrum Disorder research and is a strategic capital advisor and CEO of Holy Crap Brands where he recently advised VEGN. Is New 90 Day High Low • Nov 28
New 90-day low: CA$0.20 The company is down 15% from its price of CA$0.24 on 28 August 2020. The Canadian market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 17% over the same period. Duyuru • Nov 24
Relay Medical Corp. and Fio Corporation Announces the Signing of an MOU with Lonestar Life Sciences to Bring COVID-19 Rapid Diagnostic Testing to Rural Hospitals in Texas Relay Medical Corp. and Fio Corporation together Fionet Rapid Response Group (FRR) announced the signing of an MOU with Lonestar Life Sciences on November 19, 2020 to bring COVID-19 rapid diagnostic testing to rural hospitals in Texas. The engagement with Lonestar Life Sciences (LS), targets 10 rural hospitals surrounding the Austin, TX area. At each hospital, the Fionet system combined with approved lateral flow rapid diagnostic tests (RDTs) will offer a complete COVID-19 screening and surveillance solution that can effectively test 20-40 people per hour with lab-based equivalency. Fionet is a first-of-its-kind mobile testing & tracking platform designed to administer widespread rapid testing, for infectious diseases including COVID-19, and capture real-time data & insights. This engagement will also involve approaching various college football teams surrounding the Austin, TX area with the Fionet system. COVID-19 has dramatically disrupted college football and the surrounding economies that rely upon it. Fionet could be a solution to help keep staff, students and visitors safe. Duyuru • Nov 19
Relay Medical & Fio Corporation to Bring Fionet Mobile COVID-19 Testing & Tracking Platform to Private School Campus and Hockey Rink in the Greater Toronto Area Relay Medical Corp. and Fio Corporation together Fionet Rapid Response Group ("FRR"), report on an agreement with King Heights Academy and Paramount Ice in the Greater Toronto Area to bring the Fionet COVID-19 mobile testing and tracking platform to their facilities for pilot deployments. King Heights Academy has engaged FRR to assist in providing technologies, services and protocols for safer attendance and participation in school curriculum at their campuses. Paramount Ice is proactively pursuing potential solutions for improving protocols for safer attendance and participation in activities attheir Hockey rink locations in the GTA. FRR will work with the two partners to first establish pilot demonstrations of an FRR solution at their facilities and then for full deployment. The Fionet system combined with approved lateral flow rapid diagnostic tests (RDTs) offers a complete COVID-19 community screening and surveillance solution that can effectively test 20-40 people per hour with lab-based equivalency. The system can be deployed to increase the confidence and safety of citizens at home, work and recreation during the COVID-19 pandemic by organizing and executing rapid diagnostic testing in community-based settings as part of surveillance and screening testing programs. Duyuru • Nov 13
Relay Medical Corp. & Fio Corporation Announces Over CAD 500,000 in Contracts for Fionet Mobile COVID-19 Testing & Tracking Platform, Provides Operational Update Relay Medical Corp. and Fio Corporation, together Fionet Rapid Response Group (FRR) are provided an update on contracts exceeding CAD 500,000. In an alliance with South Korean rapid diagnostic test (RDT) maker, IVD Lab Co, FRR announces a contract with funding assistance provided by the National Research Council Canada (NRC) to bring to market a new type of RDT that can greatly ease the burden on hospitals and save lives. Validation of this innovative RDT has started at UHN in Toronto, North America’s teaching and research hospital. Fio Corporation holds the IP on the combination of biomarkers that made this test possible. South Korea is a country noted for outstanding production quality of RDTs. This innovative RDT, for use alongside rapid tests that diagnose infectious diseases, is a simple blood test designed to distinguish those infected patients who are at great risk to become critically ill (and hence will need hospitalization) from those who will safely recover at home. US hospital capacity is now capped, yet the number of COVID-infected people is growing. To prevent death toll skyrocketing, it will be indispensable to keep hospital beds for those that will really need them. This test is designed to predict critical illness, or sepsis, in infectious diseases, and will be paired to the Fionet Device. In Kenya, FRR has completed the deployment of Fionet in 10 primary care healthcare facilities in Kenya. The Fionet Patient manager is used for reception, triage, clinical consultation, lab, and pharmacy, including a COVID-19 screening module. FRR team provided configuration services, training, and support to the local teams and currently, the Fionet platform is currently producing reports for the Meru department of health to submit to the Kenya ministry of health. In addition, FRR is in negotiation with several other leading healthcare organizations around the world to pilot and/or deploy Fionet to support rapid testing programs for COVID-19 and other infectious diseases. Duyuru • Sep 24
Relay Medical Corp. Announces Board Appointments Relay Medical Corp. announced formation of a Clinical Advisory Board. The Clinical Advisory Board consists of: Dr. Murray Berall. Dr. Berall is a Nephrologist and Sleep Medicine Specialist at the Vaughan Heart Institute and Humber River Hospital. Dr. Murray Berall. Dr. Berall is a Nephrologist and Sleep Medicine Specialist at the Vaughan Heart Institute and Humber River Hospital. Dr. Tejal Patel. Dr. Patel is a clinical associate professor at the University of Waterloo. Dr. Michael M. Greenberg. Michael co-founded and leads Fio Corporation. Duyuru • Sep 18
Relay Medical Corp. announced that it expects to receive CAD 1.833316 million in funding Relay Medical Corp. (CNSX:RELA) announced a non-brokered private placement of 10,185,089 units at a price of CAD 0.18 per share for gross proceeds of CAD 1,833,316.02 on September 17, 2020. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at an exercise price of CAD 0.20 on or before September 17, 2022. The securities issued in the transaction are subject to a hold period until January 18, 2021. The company paid a cash commission equal to 8% of the proceeds raised from subscribers introduced to the company to finder and also issue an aggregate of 129,644 finder warrants. Each finder warrant entitling the holder to acquire one common share at a price of CAD 0.20 for a period of 24 months from the date of issuance. 
