New Risk • Aug 04
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended March 2023. This is considered a major 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. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported March 2023 fiscal period end). Share price has been highly volatile over the past 3 months (26% average weekly change). Revenue has declined by 19% over the past year. Revenue is less than US$1m (CA$459k revenue, or US$331k). Market cap is less than US$10m (€4.51m market cap, or US$4.93m). Minor Risk Shareholders have been diluted in the past year (2.6% increase in shares outstanding). Duyuru • Apr 10
Core One Labs Inc. announced that it expects to receive CAD 1.5 million in funding Core One Labs Inc. announced a non-brokered private placement of 10,000,000 units at a price of CAD 0.15 per unit for gross proceeds of up to CAD 1,500,000 on April 9, 2024. Each unit consists of one common share and one half of one transferable share purchase warrant. Each whole warrant entitles the holder thereof to purchase one additional share of the company for a period of five years from issuance, at a price of CAD 0.20 per share. Closing of the first tranche of the Private Placement is anticipated to occur on or about April 17, 2024. Pursuant to applicable securities laws, all securities issued under the Private Placement will be subject to restrictions on resale for a period of four months and one day. The company does not anticipate paying any finder’s fees related to the Private Placement. New Risk • Feb 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2023. 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 Share price has been highly volatile over the past 3 months (30% average weekly change). Earnings have declined by 17% per year over the past 5 years. Revenue is less than US$1m (CA$459k revenue, or US$340k). Market cap is less than US$10m (€7.62m market cap, or US$8.21m). Minor Risks Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). Shareholders have been diluted in the past year (14% increase in shares outstanding). Duyuru • Dec 07
Core One Labs' Akome Reveals Impressive Results for Its Psychedelic Bio- Compounds Designed to Target Alzheimer's and Parkinson's, Showing Potential to Outperform Current Treatment Methods Core One Labs Inc. share the exciting results of its first round of Stage 2 animal model studies, carried out in collaboration with the Universitat de Barcelona on behalf of the Company's wholly owned subsidiary, Akome Biotechnologies Inc. The results of the studies so far demonstrate promising outcomes, showing potential to outperform current treatment methods for Alzheimer's and Parkinson's, and marking a significant step forward in the Company's pursuit of innovative treatment alternatives for common neurodegenerative diseases and mental health conditions. These Stage 2 animal model studies mark the initial phase in the exploration of Akome's five plant bioactives (the "Bio-Compounds"), both individually and in conjunction with the psychedelic compound N, N-dimethyltryptamine ("DMT" or the "Psychedelic Compound"), in their ability to mitigate, or eliminate disrupted physiological processes associated with a variety of neurological and mental health disorders, including Alzheimer Disease ("Alzheimer's"), Parkinson's Disease ("Parkinson's"), Ischemic Stroke and Depression. These studies focus on the motility of a specific C. elegans strain known as "CL2006" (the " animal model" or the " model"). During the initial round of Stage 2 animal model study, five distinct dose-response assay sets were executed to investigate the effects on motility of the CL2006 strain of five bio-compounds when combined with DMT. The results showed a significant improvement in the motility of CL2006 C. elegans strain after exposure to combination of Bio-Compounds and DMT, surpassing the effects observed when they are administered individually. Moreover, the assays revealed a complete absence of toxicity in the model when the Bio-Compounds and the Psychedelic Compound were administered together. These results represent a significant milestone and mark a vital step toward identifying the optimal combination of Bio- Compounds and DMT for advanced animal studies using models like mice or rats. The compelling outcomes from these dose-response assays have ignited a profound sense of optimism within Core One's research team, prompting the decision to initiate further Stage 2 studies. These new studies will explore elevated concentration levels of Bio-Compounds while maintaining a consistent concentration of the Psychedelic Compound in order to decrease the potential of treatment-limiting side effects. Building on the preliminary results of today's first round of Stage 2 studies, Core One's researchers hypothesize that the reduction of motor dysfunction in the model will be further enhanced with increased concentrations of the patent-pending bio-compounds. The Company's investigators are also poised to conduct these dose-response assay studies with combination of Akome Bio-Compounds and additional psychedelic compounds in the coming months, continuing their scientific journey in hopes of bringing science closer to groundbreaking therapeutic breakthroughs, inspiring hope and opening doors to new horizons in the field of neuroscience. New Risk • Oct 13
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.27m (US$9.73m) 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 (17% average weekly change). Earnings have declined by 17% per year over the past 5 years. Revenue is less than US$1m (CA$459k revenue, or US$336k). Market cap is less than US$10m (€9.27m market cap, or US$9.73m). Minor Risk Shareholders have been diluted in the past year (38% increase in shares outstanding). New Risk • Sep 20
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 51% 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 (20% average weekly change). Earnings have declined by 17% per year over the past 5 years. Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Revenue is less than US$1m (CA$459k revenue, or US$342k). Minor Risk Market cap is less than US$100m (€12.0m market cap, or US$12.8m). Duyuru • Sep 20
Core One Labs Inc. announced that it has received CAD 0.2 million in funding On September 18, 2023, Core One Labs Inc. closed the transaction. The company issued 625,000 units at a price of CAD 0.32 per unit for gross proceeds of CAD 200,000. Each unit consists of one share and one transferable share purchase warrant. Each warrant entitles the holder thereof to purchase one additional share of the company for a period of five years at a price of CAD 0.43 per share. In connection with closing, the Company issued 12,500 Shares ("Administrative Shares") to Amalfi Corporate Services Ltd., in consideration for administrative services rendered in connection with the Private Placement. Pursuant to applicable securities laws, all securities issued under the Private Placement are subject to a statutory hold period of four months and a day expiring on January 19, 2024. Duyuru • Sep 12
Core One Labs Inc. announced that it expects to receive CAD 1 million in funding Core One Labs Inc. announced a non-brokered private placement to issue 3,125,000 units at an issue price of CAD 0.32 per Unit, for gross proceeds of CAD 1,000,000 on September 11, 2023. Each Unit will consist of one common share and one common share purchase warrant. Each Warrant will entitle the holder, on exercise, to purchase one Share for a period of five years at an exercise price of CAD 0.43 per Share. In connection with the Financing, the Company may pay finders’ fees and/or issue finders’ warrants on the same terms as the Warrants, to eligible parties who have assisted by introducing subscribers to the Financing. Pursuant to applicable securities laws, all securities issued under the Financing will be subject to a statutory hold period of four months and one day. Closing of the proposed Financing is anticipated to occur on or about September 18, 2023. Duyuru • Aug 05
Core One's Akome Reveals Positive Results from its Second Round of Stage 1 Animal Model Studies for Bio-Compounds Targeting Alzheimer’s and Parkinson's Disease Core One Labs Inc. announced the receipt of additional positive results from its second round of Stage 1 animal model studies. The studies were conducted in collaboration with esteemed research partners at the Universitat de Barcelona, Spain, and were carried out on behalf of Core One's wholly owned subsidiary, Akome Biotechnologies Inc. (Akome). These additional positive results come from the animal model studies that tested five carefully selected bioactive compounds based on their ability to mitigate, or eliminate disrupted physiological processes associated with a variety of neurological and mental health disorders, including Alzheimer's Disease ("Alzheimer's"), Parkinson's Disease ("Parkinson's"), Ischemic Stroke ("Stroke") and Depression. The fact that Akome is testing five compounds (Bio-Compounds A-E) speaks to the Company's diversified drug pipeline, which will allow Core One to potentially develop a number of different pharmaceuticals targeting a wide range of diseases, thereby increasing the company's revenue potential in the long term. On July 24, 2023, Akome unveiled the initial findings from the first round of Stage 1 animal model studies. These results showcased the potential of the plant bio-active compound referred to as "Bio-Compound A," the first among five bio-compounds being investigated in the Company's five United States Patent and Treaty Office applications. The data from this animal model demonstrated that Bio-Compound A exhibits promising properties in significantly reducing motor dysfunction. This animal model motor dysfunction could be considered a proxy of the motor dysfunction observed in Parkinson's disease and prevalent in the late stages of Alzheimer's disease. Building on this promising foundation, Core One's investigators have now received positive results for the remaining four bio-compounds, namely Bio-Compounds B through E, in the recently concluded Round 2 Stage 1 animal model studies. These studies were meticulously designed, following the exact testing criteria employed during Round 1. The animal models were individually exposed to various concentrations of the respective Bio-Compounds, and their motility was closely evaluated compared to a control sample of animal models not exposed to the Bio-Compounds. The data from Round 2 studies for each of Bio-Compounds B, C, D, and E demonstrated significant improvement in the animal models' motility when compared to the control sample. Additionally, investigators observed that as the dose concentration of the respective Bio-Compounds increased, the improvement in the model's motility also increased, further underlining the significant potential therapeutic value of the patent pending Bio-Compounds. The combined significance of the previously reported Round 1 and the current Round 2 Stage 1 animal model studies underscores the enormous promise of all five bio-compounds currently under investigation. As Core One continues its dedication to drug development and pre-clinical testing, these compounds stand as strong contenders for further evaluation and potential breakthroughs in treating motor dysfunction related to neurological disorders like Parkinson's and Alzheimer's. Reported Earnings • Aug 04
Full year 2023 earnings released: CA$0.49 loss per share (vs CA$1.40 loss in FY 2022) Full year 2023 results: CA$0.49 loss per share (improved from CA$1.40 loss in FY 2022). Net loss: CA$16.0m (loss narrowed 36% from FY 2022). Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has fallen by 55% per year, which means it is significantly lagging earnings. Duyuru • Jul 29
Core One Labs Inc.'s Akome Receives Positive Preliminary Stage 1 Animal Model Study Results for Bio-Compound Targeting Alzheimer’s and Parkinson’s Disease Core One Labs Inc. announced positive results from its first round of Stage 1 animal model studies, conducted by its research partners at the Universitat de Barcelona ("University of Barcelona" or the "University" or the "Investigators"), Barcelona, Spain, on behalf of the company's wholly owned subsidiary, Akome Biotechnologies Inc. (Akome). Akome's Stage 1 animal model studies (in vivo, or within living organisms) use the nematode Caenorhabditis elegans ("C. elegans" or the "model") animal model, and evaluate Akome's carefully selected and various bio-compounds individually in their ability to mitigate, or eliminate disrupted physiological processes associated with a variety of neurological and mental health disorders, including Alzheimer Disease ("Alzheimer's"), Parkinson's Disease ("Parkinson's"), Ischemic Stroke ("Stroke") and Depression, (collectively the "Targeted Diseases"). The first round of these Stage 1 animal model studies focused on examining the pharmacological effects of justone (1) of Akome's five (5) selected plant bioactive compounds ("Bio-Compound A"), after exposure to the central nervous system of the model. Investigators assessed the impact of Bio-Compound A on the motility of a specific C. elegans strain ("CL2006") - a nematode strain containing a transgene responsible for progressive, adult-onset paralysis (which is widely used for Alzheimer's and Parkinson's drug discovery research) and are pleased to share the positive preliminary results. The preliminary results from Bio-Compound A Stage 1 studies have shown favourable effects supporting Akome's hypothesis that Bio-Compound A has the potential to significantly reduce motor dysfunction, a dysfunction associated with Parkinson's, and prevalent in late stages of Alzheimer's. This effect by Bio-Compound A on the CL2006 C. elegans strain model is showing effects similar to those observed in the same model with drugs currently approved for the treatment of Parkinson's disease. The significance of Bio-Compound A having similar results to that of currently approved Parkinson's drug treatments, is that Bio-Compound A is a natural plant derivative. These extremely promising and positive initial results from the Stage 1 animal model study for Bio-Compound A holds substantial significance for Akome's further progression toward advanced animal model studies. In the upcoming weeks, the Company anticipates presenting results from additional Stage 1 animal model studies for the remaining Akome bio-compounds, and targeted diseases which are the subject of the Company's patent-pending psychedelic drug formulations. Following results from the remaining Akome bio-compound Stage 1 studies, Investigators will proceed with Stage 2 animal model studies, examining the synergistic effect of the bio-compounds in combination with N, N-dimethyltryptamine ("DMT") and other psychedelic compounds. Duyuru • Jan 25
Core One Labs Inc. Announces Management Changes Core One Labs Inc. announced the appointment of Dr. Santiago Ferro, Chief Executive Officer of Akome, to the Company's board of directors. Dr. Ferro is a world-renowned physician with over 20 years' experience in pharmaceuticals, biologicals and biotech industries. Dr. Ferro has held many prestigious senior research and development positions with global responsibilities for clinical development programs, design, implementation, and analysis of clinical trials data, and has a proven record of generating and building relationships, managing projects from concept to completion, as well as designing clinical plans to meet market targets and bringing products to success. A graduate of Javeriana University Medical School in his native Bogotá, Colombia, Dr. Ferro specialized in Internal Medicine, and later received his sub-specialty training in Infectious Diseases at the University of Toronto. Following completion of his medical and specialty training, he returned to Bogotá and established a private practice in both Internal Medicine and Infectious Diseases, while at the same time holding academic positions at different teaching hospitals. Over the years, Dr. Ferro built a distinguished reputation in his fields of study, having over twenty-five scientific publications in peer reviewed journals and medical textbooks; and being featured in multiple international scientific conferences. Dr. Ferro will continue in his role as Chief Execute Officer of Akome as well as Chief Medical Officer of Core One. The Company also announced that, effective immediately, Dr. Robert E.W. Hancock, OC, PhD, OBC, will step down as Chairman and Director from the Company's board of directors, and dedicate his time in a new appointment as Head of Scientific Development for Vocan Biotechnologies Inc. ("Vocan"), a wholly-owned subsidiary of Core One. In this capacity, Dr. Hancock will continue to build and nurture Vocan's growth through his invaluable expertise and insight into the psychedelics industry. Duyuru • Jan 15
Core One Labs Inc. (CNSX:COOL) acquired GMP Drug Inc. for CAD 3.5 million. Core One Labs Inc. (CNSX:COOL) acquired GMP Drug Inc. for CAD 3.5 million on January 13, 2023. The acquisition was completed pursuant to a share purchase agreement among the company, GMP Drug and the shareholders of GMP Drug (the “Definitive Agreement”) dated January 13, 2022. Pursuant to the definitive agreement, and in consideration for the acquisition of GMP Drug, Core One issued 4,117,647 common shares (the “Consideration Shares”) at a deemed price of CAD 0.68 per consideration share for a total purchase price of CAD 2,800,000. In addition to the consideration shares, the existing shareholders of GMP Drug are entitled to receive a bonus of 1,029,412 common shares of Core One (the “Bonus Shares”). The bonus shares will be issuable upon successful completion of a trial production run of a psychedelic compound at the facility. In connection with the completion of the acquisition, the company has issued 82,353 shares to Amalfi Corporate Services Ltd. (the “Administrative Fee Shares”) who assisted with facilitating the acquisition and provided administrative support for its completion. The consideration shares, administrative shares and bonus shares are not subject to restrictions on resale. GMP Drug holds the rights to operate from the facility for a twelve-month term ending November 30, 2023.
Core One Labs Inc. (CNSX:COOL) completed the acquisition of GMP Drug Inc. on January 13, 2023. Duyuru • Dec 10
Core One Labs Inc., Annual General Meeting, Feb 08, 2023 Core One Labs Inc., Annual General Meeting, Feb 08, 2023. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. 1 independent director (3 non-independent directors). Independent Director Pat Morris is the most experienced director on the board, commencing their role in 2020. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Pat Morris is the most experienced director on the board, commencing their role in 2020. Independent Director Ryan Hoggan was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Recent Insider Transactions • Aug 05
Executive Chairman recently sold €55k worth of stock On the 3rd of August, Robert Hancock sold around 15k shares on-market at roughly €3.77 per share. This was the largest sale by an insider in the last 3 months. Robert has been a seller over the last 12 months, reducing personal holdings by €128k. Executive Departure • Jul 14
Chief Science Officer & Director John Sanderson has left the company On the 7th of July, John Sanderson's tenure as Chief Science Officer & Director ended after 3.4 years in the role. As of March 2021, John still personally held 179.17k shares (€130k worth at the time). John is the only executive to leave the company over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Recent Insider Transactions • Feb 06
Executive Chairman recently sold €65k worth of stock On the 4th of February, Robert Hancock sold around 99k shares on-market at roughly €0.66 per share. This was the largest sale by an insider in the last 3 months. This was Robert's only on-market trade for the last 12 months. 