Board Change • Nov 16
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). Director Ricardo De Barros is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Reported Earnings • Oct 01
Third quarter 2022 earnings released: US$0.002 loss per share (vs US$0.001 loss in 3Q 2021) Third quarter 2022 results: US$0.002 loss per share (further deteriorated from US$0.001 loss in 3Q 2021). Revenue: US$249.2k (down 59% from 3Q 2021). Net loss: US$146.6k (loss widened US$124.9k from 3Q 2021). Reported Earnings • Jul 01
Second quarter 2022 earnings released: US$0.014 loss per share (vs US$0.024 loss in 2Q 2021) Second quarter 2022 results: US$0.014 loss per share. Revenue: US$88.2k (down 90% from 2Q 2021). Net loss: US$1.02m (loss widened 44% from 2Q 2021). Reported Earnings • May 01
First quarter 2022 earnings released: EPS: US$0.001 (vs US$0.012 loss in 1Q 2021) First quarter 2022 results: EPS: US$0.001 (up from US$0.012 loss in 1Q 2021). Revenue: US$530.5k (down 61% from 1Q 2021). Net income: US$41.4k (up US$377.2k from 1Q 2021). Profit margin: 7.8% (up from net loss in 1Q 2021). Board Change • Apr 27
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Director Ricardo De Barros is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Duyuru • Mar 03
PeakBirch Commerce Inc. Announces Executive Changes PeakBirch Commerce Inc. announced that Kang Yau will be stepping down from his role as director of the company, effective immediately. The vacancy created by Mr. Yau's resignation will be filled by Mohsen Rahimi. Mr. Rahimi studied at UBC in the department of Land and Food Systems, formerly known as the department of Food, Nutrition and Health. Duyuru • Feb 26
PeakBirch Logic Inc. (CNSX:PKB) completed the acquisition of Greenlite Crowdfunding Corp. for CAD 0.409 million. PeakBirch Logic Inc. (CNSX:PKB) agreed to acquire Greenlite Crowdfunding Corp. for CAD 1.1 million on October 28, 2021. Concurrently with the closing of the Acquisition, PeakBirch will, as a closing condition to the Acquisition, complete an offering of Common Shares for aggregate gross proceeds of not less than CAD 250,000 (the "Concurrent Financing"). The Acquisition is also subject to certain post-closing conditions, including an obligation of PeakBirch to complete a private placement financing for aggregate gross proceeds of not less than CAD 500,000 within one month of the closing of the Acquisition. As a condition of closing, Greenlite must have at least CAD 250,000 in cash at the time of closing. The Acquisition will be subject to closing conditions typical of a transaction of this nature, as well as the consolidation of the Common Shares ("Consolidation") on such ratio that the trading price of the Common Shares on the Canadian Securities Exchange ("CSE") following the Consolidation will be CAD 0.05. In connection with the Consolidation, PeakBirch will hold a special meeting of its shareholders to approve the Consolidation. It is expected that the Acquisition will close within five business days of PeakBirch giving effect to the Consolidation.
As of February 22, 2022 PeakBirch Logic Inc. (CNSX:PKB) announced that it will consolidate all of its issued and outstanding common shares on the basis of 1 post-consolidation Common Share for every 3.3 pre-consolidation Common Shares. Concurrently with the Consolidation, it will file a notice of alteration to change its name from "PeakBirch Logic Inc." to "PeakBirch Commerce Inc." The Consolidation and Name Change were approved by shareholders of PeakBirch at its special meeting held on December 13, 2021.
PeakBirch Logic Inc. (CNSX:PKB) completed the acquisition of Greenlite Crowdfunding Corp. for CAD 0.409 million on February 24, 2022. PeakBirch Logic amending the share exchange agreement and In accordance with the terms and conditions of the amending agreement, the parties agreed to amend the number of PeakBirch shares to be issued to the Greenlite Vendors in consideration for the Greenlite shares from 36,000,000 PeakBirch shares to 27,272,727 PeakBirch shares. The transaction is also subject to certain post-closing conditions, including an obligation of PeakBirch to complete a private placement financing for aggregate gross proceeds of not less than CAD 500,000 within one month of the closing of the acquisition. Duyuru • Feb 25
PeakBirch Commerce Inc. announced that it has received CAD 0.25 million in funding PeakBirch Commerce Inc. announced that it has received CAD 250,000 in equity funding on February 24, 2022. Reported Earnings • Jun 30
Second quarter 2021 earnings released: US$0.007 loss per share (vs US$0.003 loss in 2Q 2020) The company reported a decent second quarter result with improved revenues, although losses increased and control over costs was weaker. Second quarter 2021 results: Revenue: US$871.9k (up 209% from 2Q 2020). Net loss: US$708.9k (loss widened 314% from 2Q 2020). Reported Earnings • Mar 06
Full year 2020 earnings released: US$0.43 loss per share (vs US$0.046 loss in FY 2019) The company reported a mediocre full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: US$1.50m (up 34% from FY 2019). Net loss: US$28.5m (loss widened US$25.7m from FY 2019). Duyuru • Feb 19
PeakBirch Logic Inc. Announces Partnership with Halo Collective Inc. to Develop Functional Mushroom Line PeakBirch Logic Inc. and Halo Collective Inc. announced a partnership to bring new line of nutraceutical, non-psychoactive mushroom products to market. They combine the functional attributes of mushrooms and cannabinoids without the hallucinogenic properties. This collaboration will provide the means to manufacture and distribute the highest quality cGMP functional mushroom products. The initial product line, Hushrooms, will include three unique products, Rise, Mellow, and Tranquil. They combine terpenes, CBD, CBG, CBN, non-psychedelic cannabinoids, and mushroom extract in different combinations for each product. These unique functional benefits allow a targeted and non-psychoactive experience for consumers. The Hushrooms line of products will be available via PeakBirch's specialist mushroom sales channel, 'Shroommart.com'. Duyuru • Feb 05
Halo Collective Inc. Enters into Partnership with Nightingale Remedies (Nightingale) and PeakBirch Logic Inc Halo Collective Inc. (Halo or the Company) announced the entering into of a partnership with Nightingale Remedies (Nightingale) and PeakBirch Logic Inc. (PeakBirch), leveraging the group's formulation, manufacturing, and e-commerce expertise to develop and launch a line of products combining functional, health and wellness attributes of mushrooms, without psychoactive or psychedelic properties. Formulations will be spearheaded by Halo's wholly-owned subsidiary, Halo Peripherals, and Nightingale—a premier consumer-driven, non-psychoactive, cannabinoid product development and manufacturing company. Together with leading e-commerce retailer PeakBirch, the combined efforts are expected to deliver exceptionally high quality, cGMP, functional mushroom products to individuals seeking alternative therapies and increased wellness and quality of life options. The partnership group intends to leverage Halo's top-selling brand Hush to launch the innovative mushroom line known as Hushrooms. The combination of terpenes, non-psychoactive cannabinoids and mushroom extract is anticipated to deliver an uplifting yet non-psychoactive experience for consumers in easily ingested vegan capsules. Duyuru • Nov 07
PeakBirch Logic Adds CBD Items to Product Listing PeakBirch Logic Inc. announced that one of its niche e-commerce brands, Namaste Vaporizers, will now offer a range of CBD-infused items as part of the brand's product
listing. Namaste Vaporizers, an e-commerce platform which previously specialized in vaporizers and cannabis accessories, has reached an agreement with a number of brands to carry CBD tinctures, topicals, edibles, and other products. Namaste Vaporizers' new partners include prominent brands such as Mary's Nutritionals, Martha Stewart CBD (a collaboration with Canopy Growth), Dr. Kerklaan Therapeutics, and Select CBD. Namaste Vaporizers will feature its partners' range of products on NamasteVapes.com, an e-commerce platform targeting the U.S., Canadian, and European markets. Reported Earnings • Sep 30
Third quarter earnings released Over the last 12 months the company has reported total losses of US$953.0k, with losses narrowing by 60% from the prior year. Total revenue was US$1.55m over the last 12 months, up 40% from the prior year. Duyuru • Sep 26
Canndora Delivery Ltd./Greeny Collaboration Group (Canada) Inc./PeakBirch Logic Inc. announced that it has received CAD 1.5 million in funding On September 8, 2020, PeakBirch Logic Inc. closed the transaction. Duyuru • Sep 25
Canndora Delivery Ltd./Greeny Collaboration Group (Canada) Inc./PeakBirch Logic Inc. announced that it expects to receive CAD 1 million in funding PeakBirch Logic Inc. announced a private placement of a minimum of 434,783 units for CAD 1.15 per unit for a minimum gross proceeds of CAD 500,000.45 and a maximum of 869,565 units for maximum gross proceeds of CAD 999,999.75 on May 18, 2020. Each Unit will consist of 1 common share and 1 share purchase warrant, entitling the holder thereof to acquire 1 common at a price of CAD 1.40 for a period of 3 years from the closing of the transaction. The company may pay a finder's fees consisting of 6% units and 6% cash will be paid in respect of subscriptions from investors introduced by finders. Securities issued under the transaction will be subject to a hold period of 4 months plus 1 day from the date of closing. Duyuru • Sep 20
PeakBirch Logic Inc. Auditor Raises 'Going Concern' Doubt PeakBirch Logic Inc. filed its Annual on Sep 08, 2020 for the period ending Oct 31, 2019. In this report its auditor, Meyers Norris Penny LLP - MNP LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern. 