Fintechwerx International acquires tech assets despite CA$2.4M losses and audit doubts; stock drops 83% YTD. Key catalyst: BCIT student presentation on AI-Werx platform.
The tension is hard to miss: Fintechwerx International is buying technology assets at a brisk pace while auditors cast doubt on whether the company can stay afloat. Cumulative losses have reached nearly CA$2.4 million since inception, and a going-concern warning now accompanies its financial statements. Yet management is ploughing ahead with a three-pronged expansion strategy that includes an AI platform, a fraud-detection tool and an entry into digital SME lending.
Shareholders have not rewarded the ambition. The stock closed at CA$0.58 on 14 May,…
