New Risk • Apr 29
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended December 2024. 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 December 2024 fiscal period end). Share price has been highly volatile over the past 3 months (26% average weekly change). Revenue is less than US$1m (€13k revenue, or US$16k). Market cap is less than US$10m (€5.21m market cap, or US$6.10m). Board Change • Jan 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Management Board Member Erlend Aune was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Nov 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 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 Share price has been highly volatile over the past 3 months (13% average weekly change). Revenue is less than US$1m (€13k revenue, or US$16k). Market cap is less than US$10m (€2.61m market cap, or US$3.03m). Minor Risk Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Board Change • Sep 08
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Management Board Member Erlend Aune was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jun 26
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Management Board Member Erlend Aune was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 29
Full year 2024 earnings released Full year 2024 results: Net loss: €153.7k (loss widened 331% from FY 2023). Board Change • Apr 24
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Management Board Member Erlend Aune was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 21
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Management Board Member Erlend Aune was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Mar 02
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 French stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Revenue has declined by 58% over the past year. Revenue is less than US$1m (€167k revenue, or US$174k). Market cap is less than US$10m (€2.38m market cap, or US$2.46m). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Share price has been volatile over the past 3 months (6.7% average weekly change). Board Change • Feb 11
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Management Board Member Erlend Aune was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Dec 31
New major risk - Revenue and earnings growth Revenue has declined by 58% over the past year. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Revenue has declined by 58% over the past year. Revenue is less than US$1m (€167k revenue, or US$173k). Market cap is less than US$10m (€3.06m market cap, or US$3.17m). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Share price has been volatile over the past 3 months (9.4% average weekly change). Shareholders have been diluted in the past year (14% increase in shares outstanding). Board Change • Dec 30
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Management Board Member Erlend Aune was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Nov 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 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 (26% average weekly change). Revenue is less than US$1m (€167k revenue, or US$177k). Market cap is less than US$10m (€3.34m market cap, or US$3.53m). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Shareholders have been diluted in the past year (20% increase in shares outstanding). Board Change • Nov 25
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Management Board Member Erlend Aune was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Aug 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of French stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Revenue is less than US$1m (€167k revenue, or US$186k). Market cap is less than US$10m (€1.04m market cap, or US$1.16m). Minor Risk Shareholders have been diluted in the past year (36% increase in shares outstanding). Reported Earnings • May 15
Full year 2023 earnings released Full year 2023 results: Net loss: €35.7k (loss narrowed 78% from FY 2022). New Risk • Mar 24
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended December 2022. 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 December 2022 fiscal period end). Share price has been highly volatile over the past 3 months (16% average weekly change). Revenue has declined by 51% over the past year. Revenue is less than US$1m (€128k revenue, or US$139k). Market cap is less than US$10m (€2.94m market cap, or US$3.17m). Minor Risk Shareholders have been diluted in the past year (20% increase in shares outstanding). New Risk • Feb 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of French stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Revenue has declined by 51% over the past year. Revenue is less than US$1m (€128k revenue, or US$139k). Market cap is less than US$10m (€2.20m market cap, or US$2.38m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (20% increase in shares outstanding). New Risk • Dec 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of French stocks, typically moving 9.6% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.6% average weekly change). Earnings have declined by 17% per year over the past 5 years. Revenue is less than US$1m (€128k revenue, or US$139k). Market cap is less than US$10m (€4.06m market cap, or US$4.42m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (13% increase in shares outstanding). New Risk • Oct 27
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 Earnings have declined by 17% per year over the past 5 years. Revenue is less than US$1m (€128k revenue, or US$136k). Market cap is less than US$10m (€5.64m market cap, or US$5.97m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Share price has been volatile over the past 3 months (9.3% average weekly change). Shareholders have been diluted in the past year (13% increase in shares outstanding). New Risk • Oct 26
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of French stocks, typically moving 9.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.3% average weekly change). Earnings have declined by 17% per year over the past 5 years. Revenue is less than US$1m (€128k revenue, or US$135k). Market cap is less than US$10m (€5.07m market cap, or US$5.34m). Minor Risk Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). New Risk • Oct 09
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. 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 Earnings have declined by 17% per year over the past 5 years. Revenue is less than US$1m (€128k revenue, or US$136k). Market cap is less than US$10m (€3.61m market cap, or US$3.82m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Share price has been volatile over the past 3 months (8.5% average weekly change). New Risk • Jul 02
New major risk - Revenue and earnings growth Earnings have declined by 17% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 17% per year over the past 5 years. Revenue is less than US$1m (€128k revenue, or US$140k). Market cap is less than US$10m (€2.69m market cap, or US$2.93m). Reported Earnings • Jun 02
Full year 2021 earnings released Full year 2021 results: Net loss: €428.1k (loss narrowed 17% from FY 2020). Reported Earnings • May 22
Full year 2020 earnings released Full year 2020 results: Net loss: €518.5k (down 491% from profit in FY 2019). Is New 90 Day High Low • Feb 07
New 90-day low: €1.22 The company is down 19% from its price of €1.50 on 09 November 2020. The French market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is flat over the same period. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment deteriorated over the past week After last week's 24% share price decline to €1.22, the stock is trading at a trailing P/E ratio of 62.7x, down from the previous P/E ratio of 82.3x. This compares to an average P/E of 28x in the Chemicals industry in France. Total return to shareholders over the past year is a loss of 48%. Valuation Update With 7 Day Price Move • Jan 15
Investor sentiment deteriorated over the past week After last week's 31% share price decline to €1.32, the stock is trading at a trailing P/E ratio of 67.9x, down from the previous P/E ratio of 97.7x. This compares to an average P/E of 28x in the Chemicals industry in France. Total return to shareholders over the past year is a loss of 45%. Is New 90 Day High Low • Nov 05
New 90-day low: €1.20 The company is down 51% from its price of €2.46 on 07 August 2020. The French market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is down 3.0% over the same period. Valuation Update With 7 Day Price Move • Nov 05
Market pulls back on stock over the past week After last week's 40% share price decline to €1.20, the stock is trading at a trailing P/E ratio of 61.7x, down from the previous P/E ratio of 102.9x. This compares to an average P/E of 28x in the Chemicals industry in France. Total return to shareholders over the past year is a loss of 64%.