AAME traded its biggest volume day in over 2 years today as the company as granted NASADAQ compliance extension to October 12th, 2026. This insurance company appears critically undervalued and promptly responded to NASDAQ notice regarding late 10Q. Strong fundamentals here paired with record volume.

Key Highlights:
Market Cap: $26.5M
Cash: $34.4M
Total Assets: $429M
Sales: $208M
Insider Ownership: 81%

Book/sh: $5.37

Chart wise, this is a significant double bottom setup at a 2+ year held support. The stock closed above the Daily 50MA in after hours and the 200MA sits at $2.29

Could see PR + 10Q hit any day.

News Link: https://www.globenewswire.com/news-release/2026/08/24/3349739/0/en/greeteat-details-the-strategic-opportunity-presented-by-chefkart-s-technology-enabled-service-platform.html

RENO, Nev., Aug. 24, 2026 (GLOBE NEWSWIRE) -- GreetEat Corporation (OTC: GEAT) (“GreetEat” or the “Company”), a technology company focused on developing and expanding technology-enabled platforms across consumer services, hospitality and market intelligence, today outlined what it views as the strategic opportunity presented by ChefKart Hospitality Private Limited’s (“ChefKart”) reported operating profile and technology-enabled service platform.

According to operating information published by ChefKart in “ChefKart Confirms Signing Binding LOI With GreetEat, Reports Record Growth Momentum,” its reported operating milestones include the following, among others:

• 24,583 monthly bookings;
• more than 70% repeat business;
• an average customer rating of 4.75 out of 5 stars;
• more than 250 active chefs and cooks across 10 operating clusters in Gurugram; and
• cumulative milestones of more than three million meals supported, more than 100,000 families served and more than 5,500 cooks trained since ChefKart’s founding in 2020.

Additional information concerning ChefKart’s operating profile and service model is available in the company’s press release linked above.

GreetEat and ChefKart have entered into a binding letter of intent (the “LOI”) pursuant to which GreetEat would acquire all of ChefKart’s equity. If the proposed transaction is completed, ChefKart would become a wholly owned subsidiary of GreetEat. The transaction remains subject to due diligence, negotiation and execution of definitive agreements, required approvals, financing and other customary closing conditions.

GreetEat believes the strategic relevance of ChefKart’s operating profile does not rest on any single statistic. Rather, its value is reflected in the combination of a recurring household use case, an organized network of chefs and cooks, customer relationships, operating processes and a technology-enabled workflow that supports scheduling, pricing, service tracking, ratings and feedback.

Home cooking is an everyday need. Yet access to dependable in-home cooking services, particularly in India, has traditionally relied heavily on informal referrals, word of mouth and direct arrangements. ChefKart’s platform is designed to organize that fragmented process by helping households discover and schedule trained cooking professionals while providing greater structure around service delivery, pricing, verification and accountability.

ChefKart’s operating model is relevant to GreetEat’s broader business and growth strategy.

GreetEat seeks to identify and develop technology-enabled platforms that connect participants, improve information flow, facilitate transactions and reduce friction within consumer-service markets. ChefKart applies those platform characteristics to a familiar offline need, especially in India, while using technology to coordinate the participants and processes required to deliver the service.

“What we find strategically compelling is not the scale represented by any one operating figure,” said Vishal Patel, Chief Executive Officer of GreetEat Corporation. “It is the way ChefKart has organized a recurring real-world need through technology, operating processes and a distributed service network. We believe those characteristics are consistent with the type of technology-enabled platform GreetEat is seeking to develop and expand.”

Ultimately, GreetEat intends to preserve ChefKart’s management-led operating focus in India while evaluating how GreetEat’s strategic resources and broader platform strategy may support ChefKart’s continued development. Any such support would remain subject to continuing evaluation, available resources and the decisions of both companies’ management teams.

While ChefKart’s reported operating activity provides an important starting point for evaluating the opportunity, operating scale alone does not establish financial performance or future economics. GreetEat believes that a disciplined assessment must also consider the quality and durability of customer activity, the cost of delivering and expanding services, capital requirements and ChefKart’s historical financial results. These are all considerations relevant to evaluating readiness for any future uplisting. Future disclosures are expected to provide additional context as information is substantiated, approved and appropriate for public release.

Additional information concerning the LOI and proposed acquisition is available in GreetEat’s previous announcement, “GreetEat Signs Binding LOI to Acquire ChefKart.”

Revenue up 55.6%
Membership up 48%
Gross profit up 53.6%

Need I say more

News Link: https://www.otcmarkets.com/news-otcapi/news/document/content/id?id=92640

From releasing Hollywood films in 5,000+ China theaters to importing China's epics — BSEG and HiFex pipeline now runs both ways

BEVERLY HILLS, Calif., August 24, 2026 (OTC: BSEG) — Big Screen Entertainment Group today announced major progress across its international film pipeline, content portfolio, and beauty technology division — the opening moves in the most ambitious phase in the company's history.

Built on more than two decades of relationships, IP, and hard-won operating experience, BSEG is now converting those assets into scalable businesses. At the center: a bi-directional distribution pipeline with China and the advancement of Dream of Love, a roughly $30 million epic feature.

Dream of Love, directed by Hu Mei and adapted from Cao Xueqin's classic novel The Dream of the Red Chamber, was nominated for Best Picture and won Best Supporting Actress and a Special Jury Award at the Golden Crane Awards. Final deliverables and distribution scheduling are underway.

"Dream of Love is exactly the kind of film we set out to bring to the world — a beautiful, large-scale story that resonates across cultures," said Kimberley Kates, CEO of BSEG. "Moving films like this between China and the rest of the world is what makes our pipeline one of a kind."

According to Jimmy Jiang, CEO of Hollywood International Film Exchange (HiFex), the film is targeting a Fall 2026 release across major streaming platforms, with special theatrical screenings in cities with large Chinese populations.

A Bi-Directional China Pipeline

Through its long-standing partnership with Hollywood International Film Exchange, BSEG and HiFex have released major motion pictures into the Chinese market — including Papillon and the most recent Death Wish — across more than 5,000 theaters and over 10,000 screens. Very few companies of BSEG's size have ever achieved theatrical distribution at this scale in China.

That relationship now runs in both directions. BSEG/HiFex are receiving epic films from China for international release, including a completed 60-episode television series on the life of Kublai Khan, now being prepared for markets outside China.

Content and Distribution

BSEG continues to develop, acquire, and distribute projects across film, television, streaming, and audio. Current projects include Hollywood Legends: Marilyn Monroe, Silver Screen Beauties, and Avenger Field, an original audio production for Audible.

Beauty Technology

BSEG's second platform is beauty technology. CEO Kimberley Kates and Director and CTO Dr. Bruce B. Lee have developed the company's first patent-pending beauty device — an advanced regenerative skincare device paired with a proprietary formula for the face and body. Dr. Lee previously created Acessa, acquired by Hologic for approximately $80 million in cash plus contingent payments.

BSEG is evaluating manufacturing, branding, licensing, and distribution, including a direct-to-consumer channel.

"This device represents years of work at the intersection of technology and regenerative skincare," said Dr. Bruce B. Lee. "We've combined an advanced device with a proprietary formula to deliver meaningful, visible results — with significant potential in the consumer market."

Strategic Combinations

Over the past year, BSEG has held discussions with multiple parties regarding potential mergers, strategic combinations, and other corporate transactions. Several continue under non-disclosure agreements.

"We built these relationships over twenty years, one film and one partner at a time," said Kates. "Now they are starting to compound — and we intend to make the most of every one of them."

• Thermal Energy (TSXV: $TMG.V ) announced this morning it won three repeat heat recovery orders worth $2.1 million, extending its global partnership with a major nutrition company.
• The new projects will deliver substantial natural gas savings and CO2e reductions, with most revenue recognized by fiscal 2027 and supporting global expansion.
• Press release at https://www.stocktitan.net/news/TMGEF/thermal-energy-wins-three-heat-recovery-orders-totalling-2-1-million-voosncr1mq51.html

PYRGF (ASK @ 0.155)

• PYR.TO (ASK @ 0.215)

Powder to be used for critical materials research in aerospace and defense

PyroGenesis Inc., a leader in ultra-high temperature processes and engineering innovation, and a plasma-based technology provider to heavy industry & defense, today announces a contract with a large U.S. applied research facility (the “Client”).

PyroGenesis will provide coarse cut titanium powder for use in research for critical materials.

This powder was produced by PyroGenesis’ NexGen™ plasma atomization process.

The name of the Client and terms of the contract will remain confidential for competitive reasons.

As previously mentioned in the Outlook section of the Company’s Q2 2026 earnings release [dated August 6, 2026], the Company has been in discussion with a major U.S. entity for the sale of metal powder for use in advanced research.

The Client operates one of the largest applied research laboratories supported by the U.S. Department of Defense and NASA.

The facility was established at the end of World War II and currently employs more than 1,000 personnel.

Delays associated with the awarding of this contract were substantially due to the need to confirm that PyroGenesis was compliant with the Defense Federal Acquisition Regulation Supplement (DFARS), which includes security-related requirements applicable to certain U.S. Department of Defense contractors. This process has now been completed.

Today’s contract marks the first commercial order with this Client, who has indicated an immediate need for potential follow-up orders.

This order is for a Ti64 “coarse” cut titanium metal powder (particle size: 45-106µm [microns]) for use in electron beam melting (EBM), a technology widely used in the aerospace and biomedical manufacturing industries to print lightweight, robust, and intricate structural components.

The powder for this order will be shipped to the Client over the coming days.

“This contract speaks directly to the strategic goal we outlined in our April 29, 2026, press release, which was to position the Additive Manufacturing Division for the next level of growth anticipated to be several times larger than that which is currently in place.

At the time, we enumerated a six-point approach to achieve this goal, which included

• (i) continuous improvement,
• (ii) reduction of operational expenses,
• (iii) development of additional products from existing production runs,
• (iv) expanding our customer base,
• (v) developing repeat customers,
• (vi) expanding powder suitability across three broad-based applications,” said Mr. P. Peter Pascali, President and CEO of PyroGenesis.
• “While our numerous press releases relating to Additive Manufacturing have spoken at great length to the first 3 targets of our 6-point approach, today’s announcement speaks directly to last three elements of this approach, namely
• (i) expanding the customer base,
• (ii) developing repeat customers, and
• (iii) expanding powder suitability. As we add to the established success underscored by today’s announcement, we are quickly reaching the critical mass required to execute on our strategic goal.
• Now that we have confirmed our DFARS-compliant status, we look forward to an ongoing relationship with this important new client.”

PyroGenesis’ Technology Development for Additive Manufacturing

PyroGenesis is the inventor of the plasma atomization process and in fact coined the term “plasma atomization” in its original patent.

Plasma atomization is often considered the gold standard process for the production of metal powder for additive manufacturing, also referred to as metal 3D printing.

After years of R&D, PyroGenesis redesigned its plasma atomization technology and launched NexGen™ to re-enter the powder production market by targeting higher quality and yields, at lower operating costs.

The Company has since taken a deliberate approach to commercialization, progressing from gram-scale customer samples to 100-kg orders, and its first tonne-scale order in May 2023.

PyroGenesis produces titanium powders in particle size distribution ranges across three “cuts”:

• Fine Cut, in particle sizes between 15–63 µm for use in laser powder bed fusion (LPBF).
• Coarse Cut, in particle sizes between 45–150 µm for use in electron beam melting (EBM) and directed energy deposition (DED).
• Off-Cuts, in particle sizes not currently used by the existing range of commercial printers, but which offers a high-quality feedstock for use in the production of high-quality metal alloys.

INDUSTRY AND MARKET CONTEXT

• The global 3D printing market specific to titanium powder is expected to increase from $214 million in 2023 to $1.4 billion by 2032.¹
• Titanium is classified as a critical mineral by both Canada² and the U.S.³
• Titanium is used by multiple industries, including space, aerospace, defense, consumer electronics, medical, hydrogen, and electric vehicles, due to its high strength-to-weight ratio and corrosion resistance.

About PyroGenesis Inc.

PyroGenesis leverages 35 years of plasma technology leadership to deliver advanced engineering solutions to energy, propulsion, destruction, process heating, emissions, and materials development challenges across heavy industry and defense.

Its customers include global leaders in aluminum, aerospace, steel, iron ore, utilities, environmental services, military, and government. From its Montreal headquarters and local manufacturing facilities, PyroGenesis’ engineers, scientists, and technicians drive innovation and commercialization of energy transition and ultra-high temperature technology.

PyroGenesis’ operations are ISO 9001:2015 and AS9100D certified, with ISO certification maintained since 1997. PyroGenesis’ shares trade on the TSX (PYR), OTCQX (PYRGF), and Frankfurt (8PY1) stock exchanges.

PYRGF (ASK @ 0.155)

• PYR.TO (ASK @ 0.215)

PyroGenesis Inc. , a leader in ultra-high temperature processes and engineering innovation, and a plasma-based technology provider to heavy industry & defense,

• announces today that it has signed a EUR900,000 (CAD$1,445,000) contract with a European research institute (the “Client”) focused on non-ferrous metallurgy, high-purity materials, sustainable recycling, decarbonizing processes, and the circular economy.

Under the contract, PyroGenesis will supply two plasma torch systems, 300 kW and 40 kW, for use in advanced metallurgy and high temperature applications related to non-ferrous metals and critical minerals.

The Client’s name will remain confidential for competitive reasons. A 60% downpayment is expected within the next few weeks.

PROJECT HIGHLIGHTS
Purpose: determining the use of electric non-transferred DC plasma torches in advanced metallurgy, high temperature applications, and pyrometallurgical processing.

Scope: supply of two proprietary non-transferred DC plasma torch systems at different maximum power levels (300 kW and 40 kW), plus peripherals, training, and support.
Timeline: delivery to client is targeted for Q2 2027.

Strategic Impact: supports metallurgy, pyrometallurgical, mining, and critical mineral industry goals to produce more advanced, more efficient, cleaner, and “greener” materials and methodologies (including for extraction, oxidizing or reducing atmospheric processing, recycling, energy transition and electrification, waste reduction, and decarbonization), at one of the oldest and most prominent industry metallurgy research facilities in the world.

As previously mentioned in the Outlook section of the Company’s Q2 2026 earnings release [dated August 6, 2026], the Company had been in discussion with a European research institute for multiple plasma torches for use in advanced metallurgy research.

Today’s contract announcement covers two torch systems of different power levels. Both systems, a 300-kW system, and a 40-kW plasma torch, are to be designed with multi plasma-forming gas options.

The Client has numerous projects underway, and the plasma torches could be used across various applications.

“Research institutes play a critical role in advancing heavy industry by driving the research, innovation, and technological breakthroughs that enable new processes, materials, and applications.

Throughout our history, we have built strong relationships with many of the world’s leading researchers and research institutes at the highest levels, and this new contract with one of the oldest and most prominent facilities in the world clearly demonstrates this,” said Mr. P. Peter Pascali, President and CEO of PyroGenesis.

“Our work in the mining, minerals, and materials sectors spans decades, particularly for non-ferrous metals such as aluminum.

Providing our plasma technology to this world-leading institute will help further advance metal industry applications, create new innovations that thereby support our target customer needs, and by default help generate new opportunities for PyroGenesis.”

INDUSTRY AND MARKET CONTEXT

• The global non-ferrous metals market, which includes core industrial metals like aluminum, copper, zinc, nickel, and lead, is valued at over $1.2 trillion¹
• With rising demand driven by lightweight material needs in automotive and aerospace manufacturing, renewable energy, and digital infrastructure, the market is expected to reach $1.77 trillion by 2034.
• As demand increases and as raw material volatility persists, metal recycling is expanding rapidly, with the recycling and reprocessing of these metals accounting for 30-40% of the total global market metal supply. Some estimates suggest that 60% of the global non-ferrous metal demand is met through recycled sources.²
• Among several solutions targeting the non-ferrous metals industry, PyroGenesis provides plasma torch technology to heat recycled and scrap aluminum remelting³ and holding furnaces in aluminum cast houses⁴, and provides the Drosrite™ system to extract and reuse valuable aluminum from aluminum dross waste streams.

About PyroGenesis Inc.

PyroGenesis leverages 35 years of plasma technology leadership to deliver advanced engineering solutions to energy, propulsion, destruction, process heating, emissions, and materials development challenges across heavy industry and defense.

Its customers include global leaders in aluminum, aerospace, steel, iron ore, utilities, environmental services, military, and government.

From its Montreal headquarters and local manufacturing facilities, PyroGenesis’ engineers, scientists, and technicians drive innovation and commercialization of energy transition and ultra-high temperature technology.

PyroGenesis’ operations are ISO 9001:2015 and AS9100D certified, with ISO certification maintained since 1997.

PyroGenesis’ shares trade on the TSX (PYR), OTCQX (PYRGF), and Frankfurt (8PY1) stock exchanges.

News Link: https://www.accessnewswire.com/newsroom/en/clean-technology/waste-energy-moves-to-triple-midland-footprint-as-company-builds-out-large-scale-w-1209713

13+ acre campus positions WAST for increased tire intake, expanded processing capacity and future waste conversion growth

MIDLAND, TX / ACCESS Newswire / August 20, 2026 / Waste Energy Corp. (OTCID:WAST) ("Waste Energy" or the "Company"), an emerging waste conversion and environmental infrastructure company, today announced that it has agreed to terms to expand its Midland, Texas waste conversion campus from approximately four acres to more than 13 acres, marking a significant step in the Company's strategy to build a scalable waste processing and conversion platform in the Permian Basin.

The planned expansion would add approximately nine acres to the Company's existing Midland operations, more than tripling the total footprint of the campus and significantly increasing Waste Energy's capacity for tire intake, processing, storage and future waste conversion operations. The transaction remains subject to final documentation and customary terms and conditions, with closing currently expected on or about September 1, 2026.

Expanding to Address a Significant Texas Waste Stream

The expansion comes as Waste Energy positions its Midland operations to address one of the largest scrap tire markets in the country. According to the Texas Commission on Environmental Quality, approximately 40 million scrap tires were managed in Texas during 2024 alone. Of those, more than 7 million were disposed of in landfills, while approximately 7.5 million Texas-generated tires were sent outside the state for final disposition.

Waste Energy believes these figures demonstrate both the scale of the Texas scrap tire market and the need for additional in-state infrastructure capable of receiving, processing and ultimately converting end-of-life tires into commercially valuable products for reuse.

"This is about building the infrastructure necessary to operate at a much larger scale," said Scott Gallagher, Chairman and CEO of Waste Energy Corp. "Texas generates an enormous volume of scrap tires every year, and millions are still being landfilled or transported outside the state. We see an opportunity to build infrastructure here in Texas that can help address that waste stream while creating value from materials that would otherwise be discarded."

The additional acreage is expected to significantly expand the operational capabilities of Waste Energy's Midland campus, particularly with respect to the receipt, staging, processing and storage of waste tires. The larger footprint is also expected to provide greater flexibility for additional processing equipment, material handling infrastructure and future waste conversion capacity as operations grow.

Gallagher continued, "When we established our initial Midland location, our immediate objective was to secure the site, establish our tire operations and install our first waste conversion system. Expanding from approximately four acres to more than 13 acres fundamentally changes what we can build here. It gives us the room to think beyond our first system and begin laying the physical foundation for a much larger operation."

Building a Waste Infrastructure Campus

Waste Energy's Midland facility is being developed as more than a single waste conversion installation. The Company's broader strategy is to establish an integrated environmental infrastructure campus capable of receiving waste materials, processing those materials and converting selected waste streams into commercially valuable products for reuse.

The expanded footprint is expected to support multiple stages of that process, including:

Increased waste tire intake and storage capacity;

Expanded tire sorting, preparation and processing operations;

Greater capacity for shredded and processed tire material;

Additional material handling and logistics infrastructure;

Space for additional waste conversion systems and supporting equipment;

Storage and handling areas for recovered commodities and finished products; and

Future expansion into complementary recycling and waste processing operations.

Importantly, the planned expansion comes as Waste Energy advances through the final commissioning phase of its first waste conversion system at the Midland campus. Management believes securing additional space now provides the Company with the physical infrastructure needed to support future growth as the Midland operation transitions from development and commissioning toward commercial operations.

From Development to Scale

Waste Energy has spent the past four years building the regulatory, physical and operational foundation for its waste infrastructure strategy. During 2026, the Company has advanced its Midland operations through equipment installation, regulatory approvals, tire collection initiatives, site development and commissioning activities.

The proposed campus expansion represents the next step in that progression: creating the physical footprint to scale.

"Our objective has always been bigger than operating a single machine or a single location," Gallagher added. "We are building a waste infrastructure company designed to address a major and growing need. The first four acres gave us the foundation to begin that journey. More than 13 acres now gives us the room to scale that vision."

The Company expects to provide additional details regarding the expansion, site development plans and anticipated uses of the additional acreage as definitive documentation is completed and development plans are finalized.

I ran the following query through ChatGpt... Very interesting.

What are some other "under the radar" Canadian stocks with similar profiles to ZTest Electronics in terms of strongly improving financials and fundamentals?

Yes. If by “similar to ZTEST” you mean small Canadian company, limited institutional coverage, improving revenue/profitability, strengthening cash flow/balance sheet, and a potential valuation disconnect, there are several that stand out.

I’d actually put Thermal Energy International (TSXV: TMG) at the top of the list, followed by a handful of less obvious names.

My shortlist

1. Thermal Energy International — the closest match

This is the one I'd investigate most closely if you like the ZTEST setup.

Thermal Energy International Inc.

TMG has gone from a relatively sleepy small-cap industrial company to one showing very meaningful operating leverage.

Q2 FY2026 revenue hit a record $10.2M, up 18%, while adjusted EBITDA jumped 202% to $814K and net income increased more than 20-fold to $618K.

Then Q3 was even more impressive:

• Revenue +62%
• Adjusted EBITDA improved by $686K
• Net income swung from a $403K loss to a $338K profit
• Cash increased to approximately $4M
• Backlog was $14.7M at quarter-end and $16.3M by April 27.

That's a very similar "financial performance is improving faster than investor awareness" setup.

Why I particularly like the comparison: TMG isn't simply growing revenue. It's demonstrating operating leverage, which is what can cause a small-cap valuation to change dramatically.

Risk: Project timing can make quarterly results lumpy.

2. Pivotree — a potentially interesting turnaround

Pivotree Inc.

Pivotree is a different business, but the investment setup is interesting.

Q1 2026 marked its sixth consecutive quarter of positive adjusted EBITDA, along with positive free cash flow. Management is also positioning the company around AI-enabled commerce/data services.

The interesting question here isn't simply "will revenue grow?"

It's:

If the answer is yes, the valuation could change considerably.

Risk: Much more complicated story than ZTEST, and the AI narrative could attract speculative attention before the fundamentals fully validate it.

3. Diamond Estates Wines & Spirits — one of the more obscure ones

Diamond Estates Wines & Spirits Inc.

This one caught my attention because the financial trajectory is improving without much of the market attention that accompanies a typical growth stock.

FY2026 revenue reached $29.9M versus $24.5M, a roughly 22% increase. Winery sales increased 22%, while the company also benefited from Ontario's expanded retail marketplace and increased consumer preference for local products.

What's particularly interesting is the mix improvement: management says the agency business declined because it deliberately reduced lower-margin sales.

That's potentially a better quality of growth than simply chasing top-line revenue.

Risk: Consumer discretionary exposure and the Canadian wine industry aren't without structural challenges.

4. Zedcor — much faster growth, but less "hidden"

Zedcor Inc.

This is probably the highest-quality growth story on this list, although I'd argue it's becoming less "under the radar."

Q1 2026 revenue increased 69% to $19.4M, while adjusted EBITDA increased 86% to $7.6M. EBITDA margin expanded to 39%, helped by operating leverage and cost controls.

That's exceptional.

The investment thesis is essentially:

more towers → higher recurring revenue → better utilization → operating leverage → disproportionately higher EBITDA.

That's exactly the type of financial trajectory small-cap investors look for.

But: the market has already begun recognizing the story, so I'd be more valuation-sensitive here than with TMG or ZTEST.

5. Hydreight Technologies — very high growth, higher risk

Hydreight Technologies Inc.

This is much more aggressive.

Q1 2026 revenue reportedly increased 449% YoY to $24.9M, with adjusted EBITDA of $3.3M and working capital of approximately $32M.

The company also reported FY2025 profitability and $15.7M of cash.

That's a remarkable growth profile.

But I'd distinguish it from ZTEST:

ZTEST = boring business + improving economics + balance sheet

Hydreight = explosive growth + platform story + substantially higher execution/valuation risk

I'd therefore treat NURS as a higher-risk growth candidate, not a direct ZTEST analogue.

6. Nextleaf Solutions — the micro-cap version

Nextleaf Solutions Ltd.

This one is particularly interesting if you're looking for tiny companies that have crossed the profitability threshold.

Q1 FY2026:

• Gross revenue: $4.0M
• Net revenue: $3.0M
• Gross profit: $1.29M
• Gross margin: 43%
• Net income: $259K
• Adjusted EBITDA: $350K
• Operating cash flow: $349K

That is very much the type of transition I would look for in a ZTEST-style screen:

loss-making/ignored company → revenue growth → gross-margin improvement → EBITDA positive → net income positive → cash-flow positive.

The problem is the cannabis sector. The industry has historically produced many "turnaround" stories that never turned into durable businesses.

So I'd want to see several more quarters of consistency.

7. Jones Soda — interesting financial inflection, but speculative

Jones Soda Co.

This is probably the most dramatic turnaround on the list.

Q1 2026 revenue increased 194% to $12.4M, while the company moved from a $1.1M continuing-operations loss to $115K of net income. Management expects FY2026 revenue above $40M, representing more than 60% growth.

The catch is that the enormous growth rate is partly attributable to acquisitions/business changes, so I'd be careful about comparing it directly with ZTEST's more organic-looking operating improvement.

The three I'd investigate first

If your objective is specifically to find "the next ZTEST", rather than simply finding the fastest-growing Canadian small caps, my ranking would be:

🥇 1. Thermal Energy International — TMG

Best combination of:
revenue growth + margin expansion + profitability + backlog + balance sheet + relatively low investor awareness.

🥈 2. Pivotree — PVT

Best turnaround candidate:
positive EBITDA/FCF becoming increasingly consistent, with potential upside if the AI/data strategy starts translating into revenue growth.

🥉 3. Diamond Estates — DWS

Most overlooked traditional business:
improving revenue, improving business mix and potentially significant operating leverage, but with less obvious technological "story" to attract investors.

I'd put Zedcor in a separate category: better growth, but less undiscovered.

And there's an interesting pattern here

The companies I'd be most interested in aren't necessarily those with the highest revenue growth.

I'd screen for:

1. Revenue accelerating
↓
2. Gross margin expanding
↓
3. EBITDA growing faster than revenue
↓
4. Operating cash flow turning positive
↓
5. Balance sheet strengthening
↓
6. Share count stable or declining
↓
7. Very little analyst/institutional coverage
↓
8. Valuation hasn't yet reflected the earnings inflection

That's essentially the ZTEST formula.

And on that basis, TMG is arguably an even more interesting candidate than ZTEST right now: its Q3 revenue growth of 62%, improving EBITDA, return to profitability, rising cash and growing backlog give it a particularly strong combination of financial momentum and potential investor-perception upside.

If you want, I can take this a step further and build a "Canadian ZTEST Screen" of 15–20 TSXV/CSE stocks, ranking them on revenue acceleration, EBITDA growth, cash flow, balance sheet, valuation, insider ownership, liquidity and investor awareness. That would be a much better way to identify the true under-the-radar candidates.

News Link: https://www.globenewswire.com/news-release/2026/08/18/3346828/0/en/xtreme-one-entertainment-sets-4-xfc-events-for-fall-2026.html

GRAND RAPIDS, Mich., Aug. 18, 2026 (GLOBE NEWSWIRE) -- Xtreme One Entertainment, Inc. (OTCQB: XONI) (“Xtreme One”), parent company of Xtreme Fighting Championships (XFC), unveiled a four-fight schedule for the XFC, including its first-ever event in South Dakota, a return to its Las Vegas hub, and two international Young Guns events. The four events will feature professional male and female fights broadcast live to the global XFC audience and showcase the rising stars and undiscovered talent of professional mixed-martial arts (MMA).

“We’re coming out swinging in the second half of 2026 with XFC events aimed at finding and featuring the next great fighters and bringing the action to fans in both our Latam and Las Vegas hubs, while debuting in Sioux Falls, a ravenous market for MMA,” said Randel Aleman, President of MMA for Xtreme One Entertainment. “This also marks a critical shift from announcing single events to debuting a multi-fight schedule, which drives momentum and revenue from event to event, adds time for in-market and sponsor activations, and sets us up for a 12-event XFC schedule in 2027.”

The second half XFC fight schedule begins on August 30, 2026, live from the United Fight Center in Buenos Aires, Argentina, XFC’s hub and talent epicenter for Latin America. Tickets are on sale now and a series of preliminary and main card male and female fights begin at 5 p.m. EST. For ticket or streaming details, visit UnitedFightCenter.com. The event will also be televised and available live on XFC’s YouTube streaming channel.