Tenet Fintech Group Inc Stock Price, News & Analysis

Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) has appointed Dr. George Krucik to its Board of Directors. Dr. Krucik, a Silicon Valley veteran with nearly 40 years of experience, brings expertise in medicine, computer science, and AI. He is the founder and CTO of iTreatMD, an AI-powered Electronic Medical Record platform. Dr. Krucik's appointment aligns with Tenet's increased focus on AI, data analysis, and U.S. expansion.

Dr. Krucik will contribute to the development of Tenet's Equity Insider product, which aims to infer public company financial results before they are officially released. He replaces Mr. Sanjay Sharma on the Board, who resigned to reduce his workload and spend more time with family.

Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) reported its Q2 2024 financial results, showing revenue of $713,943, EBITDA of ($10,685,055), and a net loss of $13,451,547. The company's performance reflects a significant decrease compared to Q2 2023, with revenue dropping from $16,776,714. Tenet delayed resuming regular activity on its Chinese platforms due to the postponed delivery of Business Hub modules in Canada and the establishment of a new data science subsidiary in China. The company also pushed back the release of Networking and Advertising modules in Canada to enhance user experience. Despite challenges, Tenet is focusing on aligning its upgraded platform and marketing strategy to support the commercialization of its ie-Pulse product offering.

Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) has announced a strategic partnership with Altitude Capital Consultants Inc., led by Michael Wekerle, a prominent Canadian capital markets expert. The one-year agreement focuses on capital markets strategy, analysis of strategic opportunities, and advice on funding sources. Altitude will also provide guidance on the commercialization of Tenet's data-driven ie-Pulse product for capital market professionals.

Michael Wekerle, co-founder and Managing Partner of Altitude, brings over 30 years of experience in investment banking and capital markets. His career highlights include key roles in Rogers Communications' takeover of Maclean-Hunter and the IPO of Research in Motion (BlackBerry). Wekerle expressed enthusiasm for Tenet's product offering, stating his belief in its potential success within the industry.

Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF), owner of the Cubeler® Business Hub, has initiated the process to list its shares on the OTCQB Market in the U.S. This move aims to remove trading restrictions for U.S. investors and pave the way for a future listing on a senior national stock exchange in the country. Currently listed on the OTC Pink Market, Tenet must demonstrate current reporting and disclosure compliance to qualify for the OTCQB upgrade. The company's shares previously traded on OTCQB in September 2020, followed by OTCQX listing until September 2021, and a brief stint on the NASDAQ Capital Market Exchange.

Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) has signed a strategic alliance agreement with Elite Times CPA Inc. to bring approximately 1,000 small and medium-sized enterprise (SME) clients to the Cubeler® Business Hub. The agreement also aims to implement automated bookkeeping on the platform.

Key points of the alliance include:

• Times CPA's services will be featured throughout the Business Hub
• Business Hub members will be encouraged to use Times CPA's services
• Times CPA will promote the Business Hub to potential new clients
• The addition of Times CPA's clients is expected to enable Tenet to launch its ie-Pulse indexes product later this year
• Automated bookkeeping will be implemented as a standard offering for Business Hub members

This strategic alliance aims to simplify operations for SMEs and provide them with new insights to improve their businesses.

Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF), owner of the Cubeler® Business Hub, has updated its website to reflect a significant shift in its business model and operational focus. The company is transitioning from a transaction fee-based revenue model centered on China to a subscription-based model targeting North America. This new approach emphasizes a diverse data-derived product offering.

The updated website at www.tenetfintech.com now features a revised investor presentation, accessible at https://www.tenetfintech.com/en-ca/investors-ressources. This change signifies Tenet's strategic pivot towards the North American market and its shift from transaction fees to subscription-based revenue streams.

Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) has provided an update on the credit activity of its Cubeler® Business Hub platform in Canada. Between July 2023 and June 2024, the platform facilitated $976,500 in loans and credit to small and medium-sized enterprises (SMEs) across various sectors. The professional, scientific and technical services sector led with 46.08% of the total amount, followed by construction at 36.97%. Loan amounts ranged from $7,500 to $300,000.

Evrard Nkwemi, Director of Financial Institution Relationships at Cubeler, expressed satisfaction with the platform's performance, noting that they are on track to surpass the total credit facilitated in 2023. He also highlighted the valuable insights gained from the platform's data, which will be further enhanced with the upcoming release of the Networking and Advertising modules.

Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) has secured a credit facility of up to $5 million from Petiana Capital Inc. (PCI) and terminated its ongoing private placement financing. The credit facility allows Tenet to drawdown up to $5 million over 12 months, with a 10% annual interest rate and 24 months to repay each drawdown. PCI will receive one warrant per dollar advanced, exercisable at $0.25 or a 25% premium to Tenet's share price.

Tenet plans to use the funds to market its Business Hub, complete the ie-Pulse platform, and launch a marketing campaign for ie-Pulse data plans. CEO Johnson Joseph views this as a significant win for the company and shareholders, avoiding potential dilution from the terminated financing. Tenet aims to achieve its first Canadian data plan sales in the second half of 2023.

Tenet Fintech Group, an analytics service provider, has updated its private placement financing efforts, extending the deadline to close on $5M-$10M to August 15, 2024. A minimum first tranche of $2.5M is set to close by July 19, 2024. This extension accommodates strategic investors. All financing terms remain unchanged despite a share price drop. President and CEO Johnson Joseph noted the delay was beyond the company's control but emphasized ongoing communication and transparency with shareholders about this vital financing for 2024 objectives.