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) is a consumer privacy and data company whose news flow centers on product innovation, privacy tools, and financial performance. The company operates the Reklaim Rewards and Reklaim Protect platforms, enabling consumers to view, protect, and monetize their personal data while offering brands and platforms access to compliant, permissioned data.
News updates for Reklaim commonly cover financial results, such as year-over-year revenue growth, profitability milestones, and changes in capital structure. Releases have highlighted multiple consecutive quarters of revenue increases, periods of positive operating cash flow, and actions like the elimination of a secured debenture, reductions in outstanding warrants, and share repurchases under a normal course issuer bid.
Another major category of Reklaim news involves product launches and feature expansions. The company regularly announces enhancements to Reklaim Protect, including automated removal from California’s data broker registry, opt-outs from enterprise and DSP platforms, people-finder site removal, dark web and breach monitoring, Vermont data broker opt-outs, and real-time Breaking Breach Alerts. News has also detailed the global expansion of Protect as a stand-alone product and the introduction of tools such as a personal AI Privacy Assistant and family-wide monitoring.
Reklaim’s news feed also features updates on consumer engagement programs like the Reklaim Jackpot, the Shares for Redemption (S4R) program, and the Invest beta program, which link user rewards to potential equity ownership. In addition, the company issues releases on financing transactions, such as convertible debenture offerings, and corporate events, including conference presentations and key leadership hires to support the growth of Reklaim Protect.
Investors and observers can use the Reklaim news page to follow developments in its privacy products, regulatory-aligned data offerings, capital structure, and strategic initiatives across both consumer and enterprise markets.
Reklaim Ltd. (MYIDF) has launched Reklaim Protect, a new subscription-based privacy service that enables consumers to remove their personal data from over 80 data brokers and people finder sites. The service includes dark web monitoring and a 24/7 AI-powered privacy assistant, complementing Reklaim's existing data monetization business.
The launch comes amid escalating digital threats, with breached accounts increasing from 730 million in 2023 to 5.5 billion in 2024. Reklaim Protect targets privacy-focused consumers who prefer to opt out of the data economy rather than monetize their information. The service is available in Canada and the United States with a 14-day free trial, integrated into Reklaim's existing mobile and web applications.
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.
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