Everyday People Stock Price, News & Analysis

Everyday People Financial Corp. (TSXV: EPF) (OTCQB: EPFCF) held its annual and special meeting of shareholders on July 25, 2024. The meeting resulted in the following key outcomes:

1. Election of Directors: Seven director nominees were elected to hold office until the next annual meeting.

2. Appointment of Auditors: RSM Canada LLP was reappointed as the Company's auditor.

3. Approval of Omnibus Share Incentive Plan: The plan, which includes options, restricted share units, performance share units, and deferred share units, was ratified and approved by a majority of disinterested shareholders. It sets a maximum of 10% of issued and outstanding common shares for all awards, with a 5,000,000 share limit for Share Units and DSUs.

Everyday People Financial Corp. (TSXV: EPF) (OTCQB: EPFCF) has appointed Alasdair Skeoch as Chief Operating Officer of its Revenue Cycle Management (RCM) division. The company, a financial services provider, views this appointment as a significant step forward. Graham Rankin, Co-CEO, emphasized Skeoch's extensive experience and track record of success in the industry, stating it will be instrumental in driving accelerated growth of the RCM business line. Gordon Reykdal, Executive Chairman, expressed confidence that Skeoch's leadership and expertise will be invaluable as the company aims to become a global leader in the collection services sector.

Everyday People Financial Corp. (TSXV: EPF) (OTCQB: EPFCF) has announced a new business strategy for its EP Homes division. The company aims to eliminate its long-term debt of approximately $11.4 million by the end of 2024 and drive growth through a fee-based, non-leveraged platform. The key component of this strategy is the launch of the Borrowed Down Payment Program (BDPP), which allows qualified homebuyers to borrow up to 5% of their new home's value as a down payment loan.

The BDPP is designed to make homeownership more accessible, offering flexible repayment terms, low interest rates, and no hidden fees or early payment penalties. This shift is expected to reduce the company's overall debt, strengthen its balance sheet, and increase current and future earnings. The new model aligns EP Homes with the company's other business pillars and expands its market potential across Canada.

Everyday People Financial Corp. (TSXV: EPF, OTCQB: EPFCF) announced record financial results for Q1 2024.

Revenue surged by 85% to $14.8 million, up from $8.0 million in Q1 2023. Net income before tax increased by 223%, reaching $1.5 million, compared to a net loss before tax of $1.2 million last year.

Adjusted EBITDA skyrocketed by 559% to $3.1 million, a significant rise from $0.5 million in the same period in 2023. The company's success is attributed to the implementation of its strategic growth strategy.

Executive Chairman Gordon Reykdal credited the team for their hard work and dedication in increasing shareholder value. The company remains optimistic for the rest of the year.

Everyday People Financial Corp. (TSXV: EPF, OTCQB: EPFCF), a financial services provider, will hold its annual and special meeting of shareholders virtually on Thursday, July 25, 2024. The record date to determine shareholders eligible to vote is June 10, 2024. Those eligible will receive a notice by June 25, 2024, detailing how to access the virtual meeting and obtain meeting materials. Only shareholders listed on the register by the record date can participate in the meeting.

Everyday People Financial Corp. (EPFCF) reported strong fourth quarter and year-end financial results with revenue reaching $9.7 million and $37.9 million, respectively. The company showed significant improvement in net loss before tax and achieved positive Adjusted EBITDA for both periods. Strategic acquisitions in 2023 boosted revenue, positioning the company as a leader in revenue cycle management. Key appointments were made to strengthen the leadership team.