Tenet Fintech Group Inc Stock Price, News & Analysis

Tenet Fintech Group (CSE: PKK) (OTCQB: PKKFF) has announced that its subsidiary Cubeler has signed a referral agreement with Uncapped Technologies, a UK-based global technology lender. The partnership will integrate Uncapped's lending services into the Cubeler® Business Hub platform.

Uncapped specializes in providing working capital to e-commerce brands and retailers, offering loans and lines of credit up to USD $10M. The company utilizes technology to assess applicants' sales data and provides lending decisions within 24 hours, serving businesses in the UK, US, and Canada.

Through this integration, Uncapped will input its loan qualification criteria directly into the Business Hub interface to match with qualified SME members. The partnership aims to expand financing options for Canadian SME members and will support the platform's planned expansion into the US market early next quarter.

Tenet Fintech Group (CSE: PKK) (OTCQB: PKKFF) has announced plans to expand the compatibility of its Cubeler Business Hub by adding support for at least three new accounting software packages. The platform currently supports the top three accounting software packages used by Canadian small businesses, which represent approximately 70% market share according to Codat

With Statistics Canada reporting that 97.8% of Canada's 1.23M businesses are small businesses, Tenet aims to remove entry barriers for SMEs by supporting additional accounting software packages, particularly those used by medium-sized businesses and specific industries. This expansion also aligns with the recent launch of Tenet's ie-Pulse macroeconomic data platform, potentially accelerating the introduction of new indexes, including coverage of the manufacturing sector.

Tenet Fintech Group (CSE: PKK) (OTCQB: PKKFF) has launched its ie-Pulse macroeconomic data platform, designed to provide economic activity insights using SME financial data collected through the Cubeler® Business Hub platform.

The platform currently features one index - the Canada Professional, Scientific and Technical Services Sales Index. The company plans to expand by launching new indexes monthly and aims to leverage daily SME data through Dext bookkeeping automation software integration.

To qualify for index inclusion, SMEs must maintain current bookkeeping records and have at least one year of complete accounting data. Tenet plans to collaborate with capital market advisors, economists, government representatives, and academics to enhance the platform's value proposition.

Tenet Fintech Group (CSE: PKK) (OTCQB: PKKFF) has signed a Strategic Alliance Agreement with Bankeo, a platform connecting businesses with accounting specialists. The partnership aims to enhance the service offerings of Tenet's Cubeler® Business Hub by providing SMEs access to Bankeo's network of over 1,500 accounting specialists.

The alliance will enable SMEs to efficiently find accounting professionals for various services including tax reports, advice, and bookkeeping through both platforms. Bankeo's President Brian Bergeron emphasized that the partnership creates a win-win situation, particularly for Canadian SMEs, who can access these matching services and value-added features at no cost.

Tenet Fintech Group (CSE: PKK) (OTCQB: PKKFF) has achieved a significant milestone with the onboarding of nearly 400 small and medium-sized enterprises (SMEs) to its Cubeler Business Hub in a single day, making the launch of its first macroeconomic indicator indexes viable. The company had initially planned to launch its ie-Pulse macroeconomic indicator indexes by the end of 2024, but insufficient SME data delayed the initiative.

To accelerate SME registrations, Tenet collaborated with bookkeeping service partners and updated its platform to allow for multiple simultaneous SME registrations with client consent, moving away from the previous individual connection model. Following a two-to-three-week internal testing period, Tenet plans to release the initial version of the ie-Pulse indexes.

Tenet Fintech Group (CSE: PKK) (OTCQB: PKKFF) announced that CFO Jean Landreville will retire at the end of 2024 due to health reasons. Landreville, who served as CFO since January 2018, helped scale the company's annual revenue from CAD$1.6M to over CAD$100M in less than 4 years, leading to a CAD$1.1B market capitalization in summer 2021.

Maxime Couturier, who joined as Director of Finance in September 2024, will succeed Landreville as CFO starting January 1, 2025. Couturier, a CPA, brings experience from KPMG, Triton Advisory Services, and has held fractional CFO roles in software companies. Landreville will remain as a consultant through April 2025 to support the transition.

Tenet Fintech Group (CSE: PKK) (OTCQB: PKKFF) announced that its CEO, Johnson Joseph, faces charges from l'Autorité des marchés financiers (AMF) following an investigation into possible market manipulation of company securities from April 2020 to November 2021. The investigation, which began in December 2021, could result in fines and prevent Joseph from serving as an officer and director if found guilty. Joseph denies any wrongdoing and maintains the support of Tenet's Board of Directors. He has retained counsel and plans to fight the charges, stating he has always acted with integrity and in shareholders' best interests.

Tenet Fintech Group (CSE: PKK) (OTCQB: PKKFF) has begun onboarding the first SME clients from its partner Elite Times CPA to the Cubeler® Business Hub platform. This follows Tenet's granting of a master license of Dext Software's bookkeeping automation platform to Times CPA, enabling them to offer both the software and Business Hub membership to their SME clients.

Times CPA is actively promoting these services with the goal of registering most of their SME clients on the Business Hub by the end of 2024. This initiative is expected to expand the SME data pool on the platform, supporting the launch of Tenet's first ie-Pulse macroeconomic indicator indexes.

Tenet Fintech Group has awarded the first free master license of Dext Software's bookkeeping automation platform to Elite Times CPA. This follows their strategic partnership announced in August 2024. The software will enable Times CPA to eliminate manual data entry and serve more clients efficiently, while providing their SME clients with automated invoice processing and daily business performance tracking through a user-friendly dashboard.

The master license allows Times CPA to not only use the software for existing SME clients but also offer sub-licenses to attract new clients with a comprehensive package including their services, the automation software, and membership on the Cubeler Business Hub.