Cybeats Converts $1.2 Million Scryb Debt Into Equity to Bolster Balance Sheet

An update from Scryb ( (TSE:SCYB) ) is now available.

Cybeats Technologies Corp. and its major shareholder Scryb Inc. have agreed to settle a $1.2 million secured debenture through the issuance of 10 million Cybeats common shares at a deemed price of $0.12 per share, a move intended to strengthen Cybeats’ balance sheet and support its planned growth. The share-based debt settlement, which is subject to Canadian Securities Exchange approval and will not create a new control person, is classified as a related-party transaction under Canadian securities rules, but both companies are relying on exemptions from valuation and minority approval requirements because the deal size is below 25% of their respective market capitalizations, limiting governance friction while improving Cybeats’ financial flexibility.

Spark’s Take on TSE:SCYB Stock

According to Spark, TipRanks’ AI Analyst, TSE:SCYB is a Neutral.

Scryb’s overall stock score is primarily influenced by its financial performance challenges, particularly in profitability and cash flow. Technical analysis provides some positive signals, and the valuation appears attractive due to a low P/E ratio. However, the lack of earnings call data and corporate events limits additional insights.

To see Spark’s full report on TSE:SCYB stock, click here.

More about Scryb

Cybeats Technologies Corp. is a cybersecurity company specializing in Software Bill of Materials (SBOM) management and software supply chain intelligence solutions, helping organizations manage risk, meet compliance requirements and secure software throughout its lifecycle. Scryb Inc. operates as an investment and support platform for a portfolio of high-upside technology ventures across the broader tech sector.

Average Trading Volume: 55,437

Technical Sentiment Signal: Sell

Current Market Cap: C$3.56M

For a thorough assessment of SCYB stock, go to TipRanks’ Stock Analysis page.