Welcome to our dedicated page for Reklaim news (Ticker: MYIDF), a resource for investors and traders seeking the latest updates and insights on Reklaim stock.
Reklaim Ltd (MYIDF) operates a pioneering platform enabling consumers to control and monetize their personal data through privacy-compliant solutions. This news hub provides investors and stakeholders with timely updates on the company’s strategic initiatives in the evolving data privacy sector.
Access official press releases covering earnings announcements, technology developments, and partnership agreements. Our curated collection includes updates on Reklaim’s zero-party data innovations, compliance milestones, and operational expansions within digital advertising ecosystems.
Key content categories include financial performance disclosures, product enhancement announcements, and analyses of market positioning strategies. Users benefit from centralized access to verified information supporting informed decision-making about this data empowerment leader.
Bookmark this page for ongoing insights into Reklaim’s progress in bridging consumer privacy rights with enterprise data needs. Regularly updated material ensures you stay informed about critical developments affecting the company’s trajectory in regulated digital markets.
Reklaim (MYIDF) reported strong financial results for fiscal year 2024, with revenue increasing 24% to $5,079,714 from $4,111,927 in 2023. The company achieved positive EBITDA of $831,250 and net income of $373,353, while maintaining a robust gross margin of 82%.
Operating cash flow surged 282% to $223,617, with cash reserves showing a 258% increase year-over-year. The company's 'Deals' segment revenue grew significantly by 233%. Additionally, Reklaim implemented a share repurchase program (NCIB), cancelling 104,000 common shares, and granted 1,498,000 stock options at $0.075 per share.
The company also launched a Shares for Redemption Trial program, allowing users to convert platform points into equity, retiring $1,800 in debt through the issuance of 16,380 common shares to 36 test users in Q1 2025.
Reklaim (OTC Pink: MYIDF) (TSXV: MYID) has announced two key developments. First, the company has extended the maturity date of CEO Neil Sweeney's senior secured debenture from February 24, 2025, to February 12, 2027. The amended debenture is valued at $205,000, reflecting previous repayments made by the company. All other holders of 2022 debentures have been repaid.
This extension qualifies as a related party transaction under TSXV Policy 5.9 and MI 61-101, but Reklaim was exempt from formal valuation and minority shareholder approval requirements as the transaction value is below 25% of the company's market capitalization.
Additionally, Reklaim has received TSXV approval to issue 16,380 common shares to Canadian platform users who participated in beta testing for a new product feature. These shares will be subject to a four-month and one-day statutory hold period.
Reklaim (OTCQB: MYIDF) has announced an 18% reduction in overall debt, funded through existing cash flow, demonstrating the company's disciplined financial management. Additionally, Reklaim completed a non-brokered private placement of convertible debenture units totaling $465,400 to accredited investors, which replaces an existing facility rather than creating new debt.
The debentures feature a 12% annual interest rate, payable semi-annually with maturity in 2027. Each debenture unit includes one senior secured convertible debenture and half a warrant. The warrants allow holders to purchase common shares at C$0.14 per share within 24 months, with 2,216,190 warrants issued. Reklaim maintains a forced conversion right if shares trade at a VWAP of $0.20 or higher for ten consecutive trading days.
Reklaim reported strong Q3 2024 financial results with revenue reaching $1,487,321, up 61% year-over-year. The company achieved positive EBITDA of $359,978, marking a 106% increase from Q3 2023. Nine-month revenue totaled $3,315,204, showing a 23% increase from 2023. Key performance metrics include improved gross margins at 82% for Q3, and positive year-to-date cash flow of $260,062, representing a 1020% increase compared to the prior year. The 'Deals' segment revenue surged by 3403% in Q3 2024. The company also converted $100,000 of debt into shares at $0.09 per share.
Reklaim (OTCQB: MYIDF) (TSXV: MYID) has announced a strategic debt reduction initiative, reducing its outstanding debt by approximately 11%. The company has agreed to satisfy $100,000 of indebtedness through the issuance of 1,111,111 common shares at a deemed price of $0.09 per share. This move follows a year of consistent profitability for Reklaim, including a positive EBITDA of $154,290 in Q2 2024.
The debt settlement aligns with Reklaim's commitment to enhance shareholder value and improve financial stability. All securities issued are subject to a statutory hold period of four months plus one day. The transaction requires final approval from the TSX.
Additionally, Reklaim has appointed Stuart Pasternak as its new CFO, bringing over 30 years of expertise in financial and strategic planning to the company.
Reklaim (TSXV: MYID) (OTC Pink: MYIDF), a leading platform for consumer data reclamation, has announced its participation in the 2024 Cantech Letter Investment Conference on October 9, 2024 in Toronto, Ontario. Neil Sweeney, Founder & CEO of Reklaim, will deliver an investor presentation and engage in one-on-one meetings with investors at the event.
The conference will take place at the Arcadian Loft, 8th floor, 401 Bay Street, Toronto, ON. Interested parties can register by contacting tara@cantechletter.com. More information is available at the Cantech Letter website.
Sweeney expressed enthusiasm about the opportunity, stating that the conference provides an excellent platform to strengthen connections within capital markets, enhance visibility, showcase achievements, and increase Reklaim's profile among investor communities.
Reklaim (TSXV: MYID) (OTC: MYIDF) has announced a Normal Course Issuer Bid (NCIB) to repurchase up to 7,789,020 of its common shares, representing 10% of its public float. The NCIB, approved by the TSX Venture Exchange, will run from September 30th, 2024, to September 30th, 2025. Reklaim believes this move will protect shareholder value amid growing demand for consumer data privacy solutions.
The company, which allows consumers to view, edit, add, and option their data to brands for direct compensation, currently has 116,738,379 common shares issued and outstanding. Purchases will be made through the TSXV or alternative Canadian trading platforms at prevailing market prices, with Clarus Securities Inc. acting as the broker for the NCIB. All repurchased shares will be canceled and returned to the treasury.
Reklaim (TSXV: MYID, OTC: MYIDF) reported strong Q2-2024 financial results, achieving positive EBITDA of $154,290 and record Q2 revenue of $1,099,696, a 5% increase year-over-year. The company's year-to-date positive cash flow from operations reached $258,350, significantly improving from $612 in the same period last year. Reklaim maintained robust gross margins at 80% and saw a 6% increase in Deals revenue for Q2 and a 31% increase year-to-date. These results highlight Reklaim's strategic growth, diversification of revenue streams, and operational efficiency. CEO Neil Sweeney emphasized the company's commitment to empowering consumers and driving innovation in the data privacy sector.
Reklaim (TSXV: MYID) (OTC: MYIDF) announced robust Q1 2024 results, with key financial metrics demonstrating significant improvement. Gross margins increased to 82%, up from 71% in Q1 2023, and the company achieved a positive cash flow from operations of $463,645, an increase of $595,814 over Q1 2023. The cash position rose to $554,618 as of March 31, 2024, compared to $57,806 on March 31, 2023. The company reported consistent revenue in line with expectations and growth in its 'Deals' revenue stream. CEO Neil Sweeney emphasized the company's focus on operational efficiencies and cost controls. Additionally, Dean Wood was appointed as the new CFO, succeeding Ira Levy.
