AgriFORCE Growing Systems Ltd.
3.2500+0.08 (+2.52%)
Oct 29, 4:00:02 PM EDT · NasdaqCM · AGRI · USD
Key Stats
Market Cap
13.42MP/E (TTM)
0.00Basic EPS (TTM)
2119.77Dividend Yield
0%Recent Filings
8-K
AgriForce issues equity for conversions
AgriForce Growing Systems issued restricted common shares on September 15 and 17, 2025, to partially convert debentures held by Pioneer Capital Anstalt (156,155 shares) and Anson entities (248,000 shares combined). The board also approved equity grants on September 17 for director compensation and bonuses, including 42,194 shares each to four directors and 105,485 to two executives for prior services. These unregistered issuances, locked up from January 2025, strengthen insider alignment but dilute existing shareholders.
10-Q
Q2 FY2025 results
AgriFORCE Growing Systems ramped up its sustainable Bitcoin mining in Q2 FY2025 ended June 30, 2025, posting revenue of $452K, up sharply from $41K a year earlier, driven by the Bald Eagle acquisition that boosted hash rate over 600%. Yet operating loss widened to $1.5M from $1.2M y/y, with costs climbing on repairs, wages, and depreciation for new miners, while net loss ballooned to $8.1M from $4.2M due to a $4.6M debt extinguishment hit and $904K RCS disposal loss—net exceeding operating by over 20% from those items plus $966K interest accretion. Cash dipped to $185K amid $3.1M operating burn, offset by $8.5M fresh debenture proceeds; free cash flow not disclosed in the 10-Q. The Bald Eagle deal closed January 2025 for $4.8M cash, adding $1.5M goodwill and intangibles amortized over undisclosed lives, with no synergies stated. Debt totals $8.6M maturing mostly 2026 at 5-8%, plus a $200K 11% loan secured by 3 BTC. Bitcoin volatility poses a key risk.
8-K
Amends equity agreement, upsizes to $8M
AgriFORCE Growing Systems amended its September 2024 equity distribution agreement with Maxim Group LLC on August 4, 2025, boosting the aggregate offering price for common shares from US$3.08 million to US$8 million. This upsized facility enables greater capital access via at-the-market sales. Yet risks linger in forward-looking assumptions.
8-K
Shareholders approve key financing measures
AgriForce Growing Systems held a special stockholder meeting on June 6, 2025, where 55.75% of voting shares participated. Shareholders approved the January 2025 debt financing and related share issuance, a reverse stock split ranging from 1:15 to 1:100, and an increase in the 2024 equity incentive plan shares to 3 million. These moves bolster capital access while addressing Nasdaq compliance risks. Votes passed handily, yet broker non-votes hit 650,581.
10-Q
Q1 FY2025 results
AgriFORCE kicked off Q1 FY2025 with $344.4K revenue, all from new Bitcoin mining and hydroxyl device sales—up from zero last year—yielding a 23.0% gross margin while operating expenses climbed 59% y/y to $2.1M on R&D and staffing for expansions. Net loss narrowed to $0.1M from $3.3M y/y, thanks to a $3.0M gain on derivative fair value changes, though operating loss widened to $2.1M (derived). Bitcoin mining drove $272.7K of revenue, with the January Bald Eagle acquisition adding $1.5M goodwill and scaling capacity to 1,120 miners across sites in Canada and Ohio. Cash swelled to $1.4M after $8.2M in debenture proceeds funded the $4.8M deal, but total debt hit $10.2M with maturities through 2026. Free cash flow not disclosed in the 10-Q. Ongoing litigation risks could strain resources further.
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