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FRX Innovations Inc. (V:FRXI)

Business Focus: Specialty Chemicals (NEC)

Sector:  Basic Materials Industry:  Specialty Chemicals
 
Company Contact
Address: Ste. 1120 - 1040 West Georgia St
VANCOUVER BC M5H 1A1
Tel: N/A
Website: https://www.frx-innovations.com
IR: See website
Key People
Ross Haghighat
Chairman of the Board
Marc-Andre Lebel
President, Chief Executive Officer, Director
Mark Lotz
Chief Financial Officer, Corporate Secretary, Director
Ulrich Girrbach
Vice President - Fiber and Textiles
Xiudong Sun
Vice President - Research and Applications
Mike Goode
Chief Commercial Officer
Business Overview
FRX Innovations Inc. is a Canada-based global manufacturing company engaged in producing a family of sustainable flame-retardant products that serve several large markets spanning textiles, electronics, automotive, electric vehicles (EV), and medical devices. The Company manufactures polyphosphate polymers that are inherently flame retardant and sold under its Nofia product line. These polymers are intended to be used as additives by manufacturers that make products that have desirability or requirement for flame retardancy. Nofia flame retardants are comprised of three categories: Homo-polymers, its standard products for use in various applications, notably polyesters and ABS; Co-polymers, which are specially developed for use with polycarbonate and its blends (commonly used plastics in everyday electronics), and Oligomers, which is used in polyurethane, printed circuit boards, and as dispersions in coatings. It operates a manufacturing plant located on the Port of Antwerp, Belgium.
Financial Overview
For the nine months ended 30 September 2023, FRX Innovations Inc revenues decreased 2% to $2.7M. Net loss applicable to common stockholders decreased 57% to $4.8M. Revenues reflect Americas segment decrease of 47% to $36K. Lower net loss reflects Listing expense decrease of 100% to $11K (expense), Foreign currency gain (loss) increase from $516K (expense) to $102K (income).
Employees: 10 as of Dec 31, 2022
Reporting Currency: U.S. Dollars
Enterprise value: $22.12M as of Sep 30, 2023
Annual revenue (TTM): $4.24M as of Sep 30, 2023
EBITDA (TTM): -$6.18M as of Sep 30, 2023
Net annual income (TTM): -$11.19M as of Sep 30, 2023
Free cash flow (TTM): -$7.15M as of Sep 30, 2023
Net Debt Last Fiscal Year: $17.84M as of Sep 30, 2023
Shares outstanding: 99,457,659 as of Sep 30, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization