VentriPoint Diagnostics (VPT) AGM 2024 summary

Opening remarks and agenda

• Meeting provided a corporate update for Q3 2024, including financial results and strategic progress since the last update.

Financial performance review

• Q3 2024 sales were CAD 64,507 with a net loss of CAD 1,251,079, compared to nil sales and a net loss of CAD 1,174,285 in Q3 2023.

• G&A expenses increased due to higher share-based compensation and travel costs; R&D expenses decreased due to lower salaries and consulting fees.

• Sales and marketing expenses rose, mainly from increased compensation and advisory services.

• For the nine months ended September 2024, sales were CAD 95,172 and net loss CAD 3,858,523; deferred sales of CAD 76,772 will be recognized upon client acceptance.

• Cash used in operations decreased year-over-year; financing activities provided CAD 1,492,958, with insiders participating in convertible debenture financing.

Board and executive committee updates

• Recruitment of a senior marketing executive aimed at evolving the marketing function and product management.

• Board seat remains open, with outreach ongoing to attract senior industry talent; announcement expected in Q1.