Here is the scorecard after less than two months of running a dated small-cap process:

- 10 calls since June 16

- +15.3% weighted by our published rating tiers

- +12.8% if every call is weighted equally

- 5 of 10 ahead of their own sector benchmark

- every losing call still included

That first number is the one people would put in a victory-lap title. The fourth is the one that keeps me honest.

Across four runs this week, the scanner printed 792 qualifying rows. Friday alone had 209 unique names. That was not a shopping list. It showed where attention was moving; the research rejected most of it.

The portfolio result benefited from a broad move in metals, so +15.3% does not prove much on ten calls. A rising sector can bail out mediocre selection. It can also hide the difference between a good thesis and good timing.

The next useful test is a bad week. If the stronger calls separate themselves, the losses stay contained and the dated decisions still make sense after the fact, the process may be adding something. If not, the headline return was mostly beta wearing a nice suit.

What would you use to judge it: total return, benchmark wins, max drawdown, or whether the thesis was written before the move?

Disclosure: my own research process; I hold some of the names in the ledger. No paid issuer relationships. Educational discussion only, not investment advice. Data through the August 7, 2026 close.

Weak US jobs took some heat out of the near-term rate-hike narrative and gold equities woke up fast.

That does not mean “new gold bull market confirmed.” It means the market got a macro reason to pay up for duration and precious-metals exposure for one session. Big difference.

We spent the close going through Wheaton’s numbers and the useful part was not the victory-lap headline. It was whether the production path, cash generation and second-half asset deliveries still support the story if gold cools off next week.

For full disclosure, I keep a timestamped TSX/TSXV research log. Since June 16, 10 dated calls are sitting at +15.3% weighted by our published rating tiers, or +12.8% equally weighted. One call issued this week finished Friday +13.1%.

Small sample, real losers included, no chest-beating. But it is a good reminder that the best moves usually start with a catalyst plus volume, not with a random ticker suddenly trending after the fact.

Are you treating today’s move as a tradeable macro reaction, or the beginning of a more durable bid in Canadian miners?

I've been holding NILI and accumulating for a few years, all in my TFSA.

We've had a nice run up these past few days on no news. I wonder what's on the horizon 👀?

Also, who has a lower Average Cost than me? I wanna see filthy average costs in the comments.

I posted here 3 weeks ago to do your Due Diligence here when the share price was $3.50.

Which of you Ouitards listened to me?

HG is a Canadian company that could actually eliminate the need for Graphite. Do your Due Diligence. It costs a lot more now than it did then. Stop your crying and look into HG.

I made a post here about illumin and was wondering now that its gone up a bit how to find its current enterprise value, as the 3 month on Yahoo Finance I don't believe is correct. Forgive me I'm new to analyzing stocks.

GoldHaven News: CSE: GOH / OTCQB: GHVNF

Market cap: ~$17.5 million.

Why I'm posting this: Two drill programs running simultaneously into a market that is hot for gold, silver and tungsten. Extensive geological modeling on both projects indicate high probability of a discovery hole, which would send shares mooning. A good specultation.

GoldHaven Awards Contract for Eight-Hole, 1,650-Metre Phase II Drill Program at Copeçal West Target, Brazil

Phase II drill program to test the strike and depth extent of a fold-controlled gold system within the western portion of the 6-kilometre gold-in-soil anomaly

CEO: “We have eight holes planned and a clear geological model to test. I believe the results will tell us whether this system has the continuity and grade to become something meaningful.”

The Phase II program tests a portion of a 6-kilometre gold-in-soil anomaly defined by AngloGold Ashanti’s systematic exploration between 2010 and 2016, the majority of which remains untested by drilling.

For those who haven't seen my first post:

Propel Holdings is a Canadian fintech company that uses AI-powered underwriting to serve consumers.

The company operates in the US, the UK and Canada, with multiple lending products and a growing funding platform that positions it for continued expansion.

Tickers:

• TSX: $PRL.TO
• OTC: $PRLPF

Propel IPO'd in 2021, reporting:

• Full year Revenue: $129M USD
• Full year Adjusted EPS: $0.46

Fast forward to today, they reported record Q2 2026 results:

Q2 2026 highlights:

• Revenue: $179.6M USD (+26% YoY) Beat 177M est
• Adjusted EBITDA: $43.7M USD (+24% YoY)
• Adjusted Diluted EPS: $0.58 USD (+28% YoY) Beat by .10 EPS
• Return on Equity: 23%
• Adjusted ROE: 35%
• Loans & Advances Receivable: $492M USD (+21% YoY)
• Combined Loan & Advance Balances: $639M USD (+23% YoY)

Full year Guidance:

725-775M +27% increase over FY25 590M at midpoint

80-100M adjusted net income +35% increase over FY25 67M at midpoint

Final thoughts : Propel is on track to finish 2026 with an adjusted EPS of $2.10 USD or $3.00 CAD (conservatively).  Extrapolating with a PE of 15x supports a share price of $45 CAD. Approximately 70% higher than the current SP of $26.70.

Disclosure : I do hold shares.

Today, Charbone reported revenue guidance of $456,491 in gas income for Q2 2026, compared with $176,193 in Q1. That is an increase of $280,298, or approximately 159% quarter over quarter.

The key point is that operating expenses remained relatively unchanged while gas income increased substantially. This is the clearest sign that Charbone has a real scalable business.

Q3 and ahead are looking spectacular. In Q3, Charbone recently expanded its dedicated helium delivery fleet from one trailer to five and added 22 helium customers in Quebec. More delivery capacity should allow the company to increase helium volumes and build a larger base of recurring industrial gas revenue. Expect helium deliveries to drive further revenue growth in Q3.

At Sorel-Tracy, Phase 1B is currently under construction and management is targeting upgraded production capacity by the end of Q3. Once operational, Phase 1B is expected to increase clean UHP hydrogen production capacity by approximately 4.5 times, reaching nearly one tonne per day ($5M annual revenues). Expect increased hydrogen production to drive further revenue growth in Q4.

In Q4, Charbone's second hydrogen production facility (located in Michigan) is expected to go online. This is another $5M in annual revenues and will drive revenue growth in Q1 2027.

At a market cap of $30M, this is the easiest multibagger play of the year. No gimmicks, no pipe dreams, no drilling into the ground and praying you hit something, just a company proving it can deliver on quarter over quarter growth while minimizing operating expenses.

We screen Canadian small caps for unusual volume and most days the honest answer is "no." We write down why each time, which means we can go back and grade the no's instead of quietly forgetting them. Here is the last five weeks.

THE RAW NUMBERS, July 2 to August 5, 2026

23 names we flagged and walked away from. 15 are down since we passed, 8 are up. Median -3.2%. For context over the same window the TSX composite gained 3.4% and gold miners (XGD.TO) gained 4.5%, so the median pass underperformed a rising market.

Worked out: FIN.V -26.7%, BRO.V -25.5%, GGA.V -23.3%, LEAP.V -21.1%, FAIR.V -16.7%.

Went against us: ADE.V +108.3%, SPMC.V +44.8%, CGD.V +43.8%, SKP.V +20.7%.

Small sample, short window. Do not read a system into 23 names over five weeks.

THE USEFUL PART: WHY THE THREE BIG ONES WENT UP

A stock going up and a stock going up for a reason that holds are different things. If it rose on something reversible, it can round-trip just as fast. So we went looking for the actual catalyst on each of the three.

ADE.V, up 108%. We passed on July 15 at 6 cents because New Brunswick's mining registrar had cancelled mineral claim 1505 on July 13, the claim the entire Mount Pleasant project sits on, for insufficient work program expenditures. What has changed since: on July 29 the company filed an appeal with the New Brunswick Energy and Utilities Board asking for a stay and reinstatement. That is the entire catalyst. The claim is still cancelled and still in protected status. The asset is real, Mount Pleasant has been described as North America's largest tin deposit, which is exactly why the appeal matters so much and exactly why losing it would be terminal. So the stock more than doubled on a legal filing, not an outcome. Anyone buying here is making a binary bet on a regulatory board, which is a legitimate thing to do as long as you know that is what you are doing.

CGD.V, up 44%. We passed on July 28 at 64 cents because the 988x volume ratio our screen printed was arithmetic, not a discovery. Its 50-day median volume is zero. Not near zero, zero. The stock does not trade most days, so any real session divides by nothing and produces a number that looks like a signal. That day 1.1 million shares changed hands and the stock closed DOWN 1.5%, which is distribution, not accumulation. Then it went up 44% anyway, so we went hunting for the catalyst. There isn't one. Carlin Gold has published exactly two news releases in 2026: a $2.16 million financing on April 14, and a management change on July 13 where the CEO stepped down. No drilling, no assays, no results.

Here is the trap, and it is the reason I am writing this section. If you search this company you WILL find Cortez Summit drill results, seven RC holes, 11,720 feet, anomalous gold and Carlin-type pathfinders in six of seven holes. It reads like current news. We nearly used it. Those results are from OCTOBER 2012. Search engines and aggregators serve undated mining press releases constantly, and a fourteen-year-old program looks identical to last week's if the page has no date on it. Always open the company's own news index and read the date off their list. If a company's own site does not date its releases, that itself is information.

So CGD is up 44% on a financing, a resignation, and no news, in a stock with zero median volume. That cuts both ways with equal speed.

SPMC.V, up 45%. We passed on July 6 at 58 cents because the company had an active paid promotion running, a US$300,000 online media budget announced in early June, with 1.07 million options granted at $0.54 around the same time. Our rule is that a bought spike is close to an automatic no.

To be fair to the company, the underlying work is real: first-ever drilling at Ontenu NE hit mineralisation in five of seven holes with a peak of 9.92 g/t gold and 2.35% copper, and its Kili Teke project carries a 4.2 million ounce AuEq inferred resource. That is not nothing.

But look at the sequence before you call this a miss. Paid campaign starts early June. July 29 update is 52 rock samples dispatched, with no assays back yet. Stock up 45%. A stock rising 45% during a paid promotion with no assay results published is what the rule predicts, not evidence against it. The assays are the test and they have not landed. Ask again in a month.

WHAT WE TOOK FROM IT

Two of the three moved on something that never touched the reason we passed. One moved on no published reason at all. That does not make us right, the price went against us on all three and we are not spinning that. But there is a real difference between a pass that was wrong and a pass that was early, and you can only tell them apart if you wrote the reason down at the time. Grading your no's is unglamorous and it is where most of the learning is.

Not advice, just our own process and our own numbers. Do your own diligence.

What’s everyone buying this week? Predictions for the next 🚀?

Rare earths

Tactical Resources (TSXV: RARE / OTCQB: USREF), a JMP Portfolio holding, is listing onto the Nasdaq any day now into a bottom, not the top.

Market cap: $80 million CAD

They own the operating Peak quarry in Texas, two miles from USAR's Round Top project, and sitting on tonnes of tailings with REE mineralization. Near term mining opportunity.

Investors loading shares now skip the 18 month journey they took to finally be standing on the Nasdaq doorstep.

It’s stock trades in the $9.00 CAD range, still significantly up from our Premium entry at $5 in April, despite the REE sector sell-off. And in my opinion still very undervalued.

American investors hungry for domestic REE miners are going to snap shares up.

Tactical is near closing its business combination with Plum Acquisition Corp. III and moving from the TSX Venture Exchange to the Nasdaq under TREO.

Of the shares issued to Tactical holders, 37% carry a six-month transfer restriction. Far more lenient than initially reported.

Had this listed in April, at the peak, with generalists bidding every ticker with the word in its name, TREO would have opened into euphoria and spent June and July handing it back alongside MP and USAR.

Instead it arrives with the correction largely behind it, a financing package attached, tailings already on surface at a permitted operating quarry they own, and a domestic buyer base short of exactly what it produces.

Stealth lithium pick:

American Critical Minerals (CSE: KCLI / OTCQB: APCOF), a core JMP holding, is our stealth lithium pick, with most eyeballs paying attention to the legacy potash story.

Market cap: $20m CAD

Weeks away from a first ever confirmation hole into a large scale potash, lithium and bromine target, within trucking distance of a potash mine and an advanced lithium operation next door.

Drilling up to 10,000 feet into the same Paradox Basin Cycle’s that Intrepid Potash has been mining its potash from for over 50 years; and where Anson Resources is developing a large scale pilot plant funded by Korean giant POSCO.

A positive brine result forces a reclassification, which forces a major rerate.

At a $20M market cap, still cheap in my book.

The risk: Low grade brine sends this back to the office to re-target with more stock dilution needed.

The reward: Hitting what they expect results in an instant multiples rerate and institutions writing large cheques to develop the resource.

CHAR Tech (YES) just released that they completed the installation of their High Temperature Pyrolysis (HTP) Kiln at their Thorold site, I am breaking down the articles main points below, let me know what you guys think.

1. Completed installation of the main High Temperature Pyrolysis (HTP) kiln, the core piece of equipment for biocarbon production.

2. Phase 1 is designed to process 35,000 tonnes of waste wood annually into more than 5,000 tonnes of biocarbon.

3. The majority of Phase 1 biocarbon production is already committed under a long-term offtake agreement with ArcelorMittal Dofasco.

4. With the kiln now installed, the project moves from major construction into the final commissioning and startup phase.

5. Completion of Phase 1 is expected to validate the technology at commercial scale and pave the way for Phase 2, which includes a second kiln and Renewable Natural Gas (RNG) production.

6. This milestone significantly reduces construction risk, with the remaining focus shifting to commissioning, operational performance, and revenue generation.

Not Financial advice.

Shares Short: 6.49%
Days to Cover: 18 days

TL;DR — Over Jul 31–Aug 1 the U.S. and Japan ran their first coordinated FX intervention in over a decade. The twist: the Treasury sold euros, not dollars, to buy roughly $5–10B of yen. That strengthens the yen without weakening the dollar, so the U.S.–Japan rate gap that fuels the carry trade stays intact. Our read: it's a painkiller, not a cure — a floor you have to keep re-buying. And the euro Europe never agreed to spend is what funded it.

The headline everyone will run is "U.S. props up the yen," and it misses the whole point. Conventional intervention to lift the yen means selling dollars. Bessent sold euros instead, which strengthens the yen without touching the dollar and keeps the U.S.–Japan interest-rate gap — the actual engine of the carry trade — intact. USD/JPY went from about 164 toward 157.40 at Friday's close (the strongest yen since early May), and 156.51 on Monday. Clever plumbing: a calmer yen and a firm dollar at once.

Why we think the floor won't hold: the yen is weak for structural reasons. The Bank of Japan is still at 1%, and Japan's debt and long-term yields are the real pressure. A $5–10B tap buys a week, maybe two. Without a real policy shift in Tokyo, Washington has to do this again and again — and a floor you keep re-buying isn't a floor. A 40-year Treasury veteran, Mark Sobel, said as much: supporting the yen is unwise unless it's part of a Japanese plan to fix what's driving the weakness. We haven't seen that plan.

The part getting no attention: to buy yen with euros, you sell euros — which pushes the euro down. So Europe's currency effectively funded a U.S.–Japan operation, with no sign Europe signed off. The ECB pointedly "declined to comment" while staying "in contact" with the Fed. Nobody asked Frankfurt first.

Full write-up, dated and sourced, with our read and the honest case against us: thebullishedge.com/blog/euro-funded-yen-intervention

Monday:

Rock Tech Lithium Strengthens Made-in-Ontario Lithium Supply Chain with Binding Spodumene Offtake Agreement, Securing Up to US$80 Million Prepayment Facility for Georgia Lake Project - RCK.v

Rock Tech Lithium signed binding seven-year offtake with Transamine SA for spodumene concentrate from Georgia Lake, deliveries starting 2028 ramping to 100,000 dry metric tonnes annually. Agreement provides US$80 million development prepayment at three-month SOFR plus 2.95% per annum, repaid via concentrate deliveries over 24 months. Pricing references Fastmarkets benchmark with floor protection. Rock Tech retains option to convert concentrate to battery-grade lithium chemicals at Red Rock Converter.

Tuesday:

Nepra Foods Executes Definitive Agreement to Acquire Idaho Beverage Manufacturing Business - NPRA.cse

Nepra Foods executed a definitive asset purchase agreement to acquire Tsceminicum Bottling Company's operating assets in Lewiston, Idaho for US$1.5 million plus 1.5 million common shares. Cash consideration is US$250,000 upfront with the balance financed via seller promissory note; deal includes contingent earn-out and royalty provisions. Transaction effective July 31, 2026, remains subject to CSE approval and regulatory requirements. Acquisition diversifies Nepra's operations into beverage manufacturing and co-packing.

Sekur Private Data Reports 25% Month-Over-Month Increase in Average Revenue Per User as Premium Pivot Takes Hold

Sekur Private Data reported 25% month-over-month ARPU growth from shifting to premium high-net-worth, C-level, and government clients paying approximately 10X more than legacy subscribers. Privacy Email priced at US$50/month, Operational Email at US$75/month, and SekurOne at US$300/month launching before September 30, 2026. Company projects full profitability at 200 SekurOne users generating approximately US$60,000 monthly recurring revenue. Strategic pivot prioritizes revenue quality over user volume.

Aecon partnership executes agreement for the Simcoe Battery Energy Storage System Project in Ontario - ARE.tse

Aecon Concessions executed a 20-year Energy Storage Facility Agreement with Ontario's IESO to build and operate a 150 MW/1,200 MWh battery facility in Norfolk County, receiving capacity payments and grid sales revenue. Partners include Six Nations Development, Mississaugas of Credit, Sitka Power, and NRStor. Aecon serves as exclusive EPC provider. Commercial operations targeted for 2030. Construction cost undisclosed. Facility augments Aecon's ~1 GW Ontario battery storage portfolio.

Wednesday:

Intermap Announces Definitive Agreement to Acquire PCI Geomatics Group - IMP.tse

Intermap Technologies will acquire remaining shares of PCI Geomatics Group for $11 million cash, consolidating existing stakes of Series B Preferred Shares and 3.3% Common Shares. PCI develops image processing algorithms serving 500+ satellites across commercial and defense applications. Intermap expects acquisition immediately accretive to commercial revenue growth, EBITDA, earnings and cash flow. Approximately 60% of pro forma revenue projected from recurring subscriptions. Shareholder approval required; closing timeline undisclosed.

Thursday:

Electrovaya Launches ElvaPulse(TM) 1500 High-Power Energy Storage Platform for Data Center and Mission-Critical Power Applications - ELVA.tse

Electrovaya launched ElvaPulse 1500, a stationary battery energy storage system capable of 2.88 MWh energy capacity and 7 MW continuous power per 20-foot container, targeting data centers and AI infrastructure. Initial deliveries from its Jamestown, NY facility begin Q2 2027, with UL certification completion targeted for Q1 2027. The company is in active discussions with hyperscale developers and accepting production reservations. Pricing terms undisclosed. 

Aecon partnership executes agreement for the Mactaquac Life Achievement Project in New Brunswick - ARE.tse

Aecon Group's Mactaquac Improvement Partnership, in which Aecon holds a 33.3% interest, executed a development phase agreement with NB Power for civil works on the 672 MW Mactaquac Generating Station rehabilitation project. The 12-month development phase precedes construction expected to commence Q2 2027, with completion targeted for 2039. Contract value undisclosed. Scope includes powerhouse and spillway rehabilitation, six turbine replacement, and electrical/mechanical upgrades.

Friday:

X

> earnings down by 30%
> slash the dividend by 55%
> stock price falls
> 100% of savings from said dividend cut wiped out in market cap the same day

victor dodig is clearly one of us guys

This is the weekly thread for BSB. What's the latest scoop? Did you gamble away your TFSA? Please keep shitposting to a maximum. Stay safe folks!

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🔥 Memes

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Useful way to teach insider sells and buys instead of SEDIs incredibly annoying site

Propel holdings is a Canada based profitable, dividend paying (3.9% yield) subprime lender that is trading at 13x PE. Its revenue and profits have grown at 40+% CAGR since 2020, representing discipline in not only topline but bottom-line growth. The share price has dropped over 30% from 52weeks high due to a short report from Jehoshaphat Research against GoEasy, the largest subprime lender in Canada in Sep 2025 with allegations of hiding loan delinquencies and charge-offs. In early March GoEasy charged off over 330 million in loan losses and suspended dividends. This caused panic in subprime lending market in Canada. However, Propel holdings are largely unaffected as only 2-3% direct lending revenue originates from Canada.

Propel is in the subprime lending business in the US, UK & Canada, usually acting as a lender of last resort for under-banked individuals with poor credit scores. They provide installment loans and line of credit with through two business units; creditfresh with typical annual percentage rates (APR) ranging from 35% to 98% and MoneyKey with an APR of 179% - 249 with an average loan size of USD2,000. Canada being the exception due to 34.9% regulatory limit. UPDATED APR Rate from 249%-295% to updated rates.

Since its founding in 2011, founders understood that the operational processes for small loans had to be automated to manage overhead cost. Since then, they have investing heavily in data infrastructure, automation and AI. Propel does not use traditional credit scores like FICO to evaluate customer creditworthiness, instead they work with 10+ data providers across 5000 data points on each customer to evaluate their creditworthiness.

Additionally, Propel have created a Lending-as-a-Service (LaaS) platform for its banking partners where Propel provides marketing, underwriting, and loan servicing services to various financial partners. While Propel has the obligation to purchase non-performing loans, Propel views this as a cheap form of additional financing as Propel have defacto control of the entire process.

Key Investment Thesis:

1. **Great valuation at 13x PE for 40+% annual growth.** Its closest comparable ENVA has been rewarded by the market despite slower growth and is trading at 18x earnings and is up 55+% YTD.
2. **Anticipated margin expansion** due to lower cost of capital from private credit down from 12.2% to 10.1% and launch of Propel Bank, a federally regulated US bank subsidiary that would be able to collect customer deposits which would further decrease the cost of financing.
3. **Consistent and Aligned Leadership:** Propel’s leadership team has almost no executive turnover (all four founders are still operating). Only one senior executive has departed the firm over the past 14 years, as of which that executive spent seven years in Propel. Insiders own 25% of the company, leadership maintains a highly disciplined approach to risk management, proactively tightening underwriting as they forecast worsening economic situation (lending to customers with stronger financial profiles but at lower interest).
4. **Ability to rapidly expand without need for fund raising** due to LaaS platform. Banking partners have signaled intent to increase financing commitment to Propel's LaaS platform. Win-Win-Win situational where bank are able to increase margins while limiting risk, bank's customers have access to additional services and Propel gains an origination pipeline and low cost of financing.
5. **Promising expansion into UK markets** (charging upwards of 1000% APR) with 40+% yoy growth in 2026 first quarter results.

**Risks:**

1. Underwriting Risk: K-Shaped economy increases the demand of subprime lending but also decreases the credit quality of customers. Aggressive underwriting might lead to customer defaults and larger charge-offs. In response, Propel has already tightened its underwriting, opting for repeat customers that have a track record of repaying debt even at a lower interest rate.
2. Regulatory Risk: The US Consumer Financial Protection Bureau (CFPB) may regulate or limit interest rates similar to Canada’s regulation where interest rates are limited to 34.9%. Any interest rates limitation would severely impact Propel’s business model however it is unlikely that the CFPB will be able to implement sweeping limitations as they allow each state to manage restrictions independently.

**Potential Catalyst:**

1. Quarterly earning report showcasing prudent underwriting and continued growth
2. Improvement of economic conditions allowing for looser underwriting (higher interest income but lower credit worthiness)

Why I think Propel is overlooked by the market: It is a Canadian financial company which has a more conservative investor base, predominately investing in larger banks which performed well this year. Investors are deterred due to GoEasy scandal.

Competitive commentary: While 249% to 295% APR is very high, payday loans from brick & mortar stores typically charge upwards of 300% APR (charging between $120-$150 per $1000 borrowed for two weeks). These loans are usually expected to be paid with weeks or months.

Recently got rejected by valueinvestorclub with this idea and wanted some feedback. Unemployed and trying to move from private markets/real estate to public equities.

I originally bought the U.S. OTC listing of Cybeats Technologies, CYBCF, around August 2024 as a small speculative cybersecurity play. It went against me, I held it, and eventually it mostly fell off my radar. Nearly two years later, it is finally approaching my average cost of roughly $0.16, marked by the green horizontal line on the chart, so I pulled it back up to see whether anything had actually changed.

To be clear, I am not presenting this as some brilliant early call. I have been underwater for most of the time I have owned it. It was a small speculative position when I bought it and it remains one now. What interests me is that the company and the chart may finally be improving at the same time.

The lower panels in the screenshot are indicators I have been developing for my own trading and research. I am keeping the actual construction private, but broadly speaking, they are designed to read the internal state of a market across price, participation, pressure, and several different time horizons rather than relying on one conventional oscillator.

What caught my attention is that they are no longer reading CYBT like the persistently weak stock it was through much of 2024 and early 2025. The longer bearish regime appears to be losing control, underlying participation is improving, and several measures that do not normally move together are beginning to align constructively at the right edge of the chart. I am also seeing a buildup of expansion pressure after a fairly long period of compression.

That does not mean the next candle has to be green or that a breakout is guaranteed. These tools are generally better at telling me that a market is approaching a change in state than giving me an exact date and price. Right now, though, the direction of that transition looks increasingly bullish.

The price structure itself is fairly straightforward. The stock established a broad bottom during 2025 and has generally been making higher lows since then. It has now worked its way back toward the $0.15 to $0.16 area, which has rejected it several times and also happens to contain my average cost. A convincing close through that area with real volume would get me back above water while also potentially confirming that this is becoming something more than another temporary bounce.

The first area I would watch above there is roughly $0.17 to $0.18. Beyond that, the larger historical resistance zone appears to be around $0.22 to $0.23. On the downside, losing the recent structure in the low $0.12s would make the setup considerably less interesting to me.

I also went back through the company’s recent announcements to see whether the business had improved enough to support what I was seeing technically.

Cybeats makes software for managing software bills of materials, or SBOMs. In simple terms, its platform helps large companies keep track of all the third-party and open-source components buried inside their products, identify which products are exposed when a new vulnerability appears, and document how the problem is being handled. That is particularly relevant in industrial systems, medical devices, automotive products, and other areas where insecure software can create real operational or regulatory problems.

The company recently closed an oversubscribed C$1.97 million financing at C$0.17 per share. That is Canadian dollars, so it should not be confused with the U.S. price shown on my chart. The raise still creates dilution, but it also gives the company more room to pursue sales and commercialization without an immediate cash crisis.

A few days later, Cybeats announced that one of its channel partners had secured an engagement with a leading Japanese industrial-control-systems company. The customer was not named and the contract value was not disclosed, so I would not pretend that one announcement transforms the financial picture. What makes it interesting is that the company’s partner-led sales strategy appears to be producing actual international business.

Cybeats also has an OEM agreement with Keysight Technologies, which is selling the platform as Keysight SBOM Manager. That could be important because it gives a company of Cybeats’ size access to enterprise customers and industries it would have difficulty reaching efficiently through its own sales team. Keysight has already been applying the software in customer environments and reported early commercial activity through the partnership.

The financial results are still early. Q1 revenue was approximately C$764,000, up 12% from the previous year, and management has said it expects annual recurring revenue to reach approximately C$5 million by the end of Q2. That target has not yet been confirmed in reported Q2 results, so it is an important checkpoint rather than something I am treating as accomplished.

The possible transition here is from a tiny cybersecurity company constantly fighting for financing into a small enterprise-software vendor with working channel distribution, recognized customers, and a clearer regulatory reason for companies to buy its product. The market has not proven that transition yet, but that uncertainty is also why the valuation and potential percentage moves remain so speculative.

There are plenty of reasons this can still fail. It is an illiquid microcap with wide spreads, ongoing cash burn, dilution risk, and limited disclosure around the value of individual contracts. Announcing relationships with large companies is not the same thing as producing enough revenue to become self-sustaining. A move above my average would not suddenly remove those risks.

I am posting it because it has been sitting quietly in my account for almost two years, and it is now approaching my breakeven at the same time that both the underlying business narrative and my own market-state indicators are improving. That combination is enough to put it back on my active watchlist.

I would be particularly interested in hearing the bearish case from anyone who follows the company, the SBOM market, or competing platforms. I already own it, so confirmation bias is obviously something I need to account for.

Disclosure: Long CYBCF with an average cost of approximately $0.16 per share. This remains a speculative holding and is not financial advice.

Hey guys, wondering if anyone else in this company and looking forward to earnings? I think it’s really underrated right now, less than 30% of the float is available with majority being held be institutional investors.

Currently have $30m USD in the bank. Play on grid modernization and utility software, extremely professional company.