Everyday People Stock Price, News & Analysis

Everyday People Financial Corp. (TSXV: EPF) (OTCQB: EPFCF) has completed the acquisition of CCS Group Holdings through its subsidiary BPO Collections The transaction involves a total cash payment of C$4,473,563, with C$4,247,625 paid at closing and C$225,938 held back for 90 days. Additionally, 2,233,565 common shares were issued at C$1.00 per share.

The deal includes a deferred payment of C$711,703 over 2 years and potential performance-based payments of up to C$711,703. The acquisition is funded through equity and debt, including a C$6.0 million bank loan with a 5-year term. CCS, founded in 1988, provides debt collection services in the UK and is regulated by the Financial Conduct Authority.

Everyday People Financial Corp. (TSXV: EPF) (OTCQB: EPFCF) has announced that its subsidiary, BPO Collections , will acquire CCS Group Holdings for approximately C$8.4 million. The acquisition includes a cash payment of C$5.4 million and the issuance of 2,233,564 Everyday People shares. CCS Group, founded in 1988, provides debt collection services in the UK and is regulated by the Financial Conduct Authority.

To fund the acquisition, BPO has secured a C$6.0 million (£3.3 million) loan from a leading UK bank with a 5-year term. The company expects CCS to contribute an annual EBITDA of C$1.1 million to C$1.4 million. The acquisition is set to close on October 29, 2024, subject to regulatory approvals.

Additionally, Everyday People has issued 969,257 common shares from RSU redemptions and appointed Maureen Griffiths as the new Corporate Secretary.

Everyday People Financial Corp. (TSXV: EPFCF) reported strong financial results for Q2 and H1 2024. Revenue increased 63% to $30.6 million in H1 2024, while net income before tax grew 212% to $2.0 million. Adjusted EBITDA surged 277% to $5.5 million. The company also reduced long-term debt by $2.5 million in H1 2024.

Key highlights include:

• Q2 2024 revenue up 46% to $15.8 million
• Q2 2024 Adjusted EBITDA up 142% to $2.4 million
• Q2 2024 net income before taxes up 192% to $0.6 million

The company's three business pillars - Revenue Cycle Management, EP Financial Services, and EP Homes - all contributed to growth. Everyday People anticipates further debt reduction and strong performance for the remainder of 2024.

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.