Voxtur Analytics Corp - VXTRF STOCK NEWS

Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF), a North American real estate lending technology company, has announced that its Board of Directors has initiated a strategic review process. The company aims to explore various options to enhance value for shareholders, employees, and clients.

The strategic alternatives under consideration include recapitalization, sale of company assets, merger, or a combination of these options. A Special Committee of independent directors has been formed to oversee the process, with BMO Capital Markets serving as an advisor.

The company states it will not disclose developments regarding the strategic review until the Board approves a specific transaction or determines disclosure is necessary. Voxtur emphasizes that there are no guarantees that this process will result in any transaction or specific outcome.

Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) has announced amendments to its Q3 2024 Financial Statements and MD&A. The company disclosed non-compliance with financial covenants regarding its credit facilities as of September 30, 2024. As a result, $29,623 of non-current credit facilities has been reclassified as current liability, as Voxtur lacks the unconditional right to defer settlement for 12 months without obtaining a covenant violation 'cure'.

The amendments include removing an inadvertently included statement about October 2024 credit agreement amendments and correcting typographical errors in the comparative analysis sections of the MD&A, specifically in areas discussing net loss, comprehensive loss, and liquidity from continuing operations.

Voxtur Analytics reported Q3 2024 financial results showing revenue of $8,491,000, down from $10,137,000 in Q3 2023. Gross profit decreased to $4,925,000 from $6,510,000, with margins declining to 58% from 64%. The company completed the sale of its AMC business for $35,135,000 on November 1, 2023. The new CEO, Ryan Marshall, emphasized focus on debt reduction, operational streamlining, and achieving cash flow positivity. Management also announced plans to sell its controlling interest in Blue Water capital markets business unit, which is now classified as discontinued operations.

Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) has filed its amended and restated credit agreement with the Bank of Montreal, along with subsequent amendments. This filing was made at the request of the Ontario Securities Commission staff as part of a review process. The Credit Agreement is now available on the Company's SEDAR+ profile.

Voxtur is a North American real estate technology company focused on creating a more transparent and accessible lending ecosystem. The company offers targeted data analytics to simplify various aspects of the lending lifecycle for investors, lenders, government agencies, and servicers. Voxtur's proprietary platforms aim to more accurately and efficiently value assets, originate and service loans, and securitize portfolios.

Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) has released its financial results for Q2 2024. Revenue from continuing operations decreased to $8,530,000 from $9,644,000 in Q2 2023. Gross profit also declined to $4,631,000 from $5,188,000, while gross profit margin remained stable at 54%. CEO Ryan Marshall acknowledged challenges in Q2 but emphasized the company's commitment to long-term innovation and operational improvement.

Voxtur is implementing measures to enhance profitability and align operations with market demands. The company recently sold its appraisal management company business for $35,135,000 and is planning to sell its controlling interest in Blue Water Financial Technologies Holding Unit. An earnings call is scheduled for August 30th, 2024, to discuss the financial results in detail.

Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) has appointed Ryan Marshall as its new Chief Executive Officer, effective immediately. This leadership change marks a strategic pivot for the company, focusing on innovation, growth, and enhanced shareholder value. Marshall, formerly Voxtur's COO and CPO, brings extensive experience in the U.S. mortgage industry and a deep understanding of the company's operations.

The new CEO's vision, dubbed 'OneVoxtur', aims to unite business units, relationships, and experiences. Key principles include improving corporate governance, financial acumen, stakeholder management, innovation, talent development, and corporate social responsibility. Marshall also plans to enhance Voxtur's financial reporting model and implement rigorous executive reviews for new developments.

Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) has announced a strategic joint venture with University Bancorp, Inc. (OTCQB: UNIB). University Bancorp will lead a group of investors to acquire a 50.5% stake in Blue Water Financial Technologies, a Voxtur subsidiary, for $30 million USD upfront and a potential $9.5 million USD earnout. The deal aims to strengthen Voxtur's financial position by reducing debt owed to Bank of Montreal and enhancing operational flexibility. This partnership is expected to drive growth, technological advancements, and create new opportunities in the mortgage industry. The transaction, subject to regulatory approval, is anticipated to close by the end of Voxtur's third quarter.

Voxtur Analytics announced the results of its annual and special shareholder meeting held on June 28, 2024. All proposed items were approved by shareholders, including setting the number of directors at four, electing the nominated directors, appointing MNP LLP as the Company’s Auditor, and ratifying the Long-Term Incentive Plan. Notably, Gary Yeoman, Michael Harris, Ray Williams, and Allan Bezanson were elected as directors with over 99% of votes in favor. Post-meeting, Gary Yeoman was appointed Chairman, and Michael Harris as Lead Director.

Voxtur Analytics is urging shareholders to vote for the company's management nominees at the upcoming annual general meeting on June 28, 2024. The company raises concerns about a dissident group's lack of transparency and legal compliance, specifically highlighting that only Rice Park has complied with Canadian securities laws. Voxtur questions the dissident group's motives and capabilities, citing potential conflicts of interest and lack of experience in the Canadian market. The company stresses that the dissident group's actions could trigger a default on Voxtur's credit agreements, risking shareholder investments. Voxtur encourages shareholders to protect their investments by voting for its management nominees: Gary Yeoman, Michael Harris, Ray Williams, and Allan Bezanson.