Orion Digital Corp 40-F for FY2021
Orion Digital Corp. (ORIO)
40-F
2022-03-23
For: 2021-12-31
View Original
Added on
April 10, 2026
About this 40-F
Orion Digital Corp filed this 40-F on March 23, 2022, covering the fiscal year ended December 31, 2021 (FY2021).
Headline figures
Fiscal year ended December 31, 2021, as reported in this filing, compared with the same period a year earlier where the filing states it.
- Revenue
- 57.52M CAD
- up 30.0% from 44.25M CAD a year earlier
- Net loss
- 33.21M CAD
- compared with a net loss of 13.45M CAD a year earlier
- Diluted EPS
- -0.53 CAD
- compared with -0.47 CAD a year earlier
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 40-F
or
For the fiscal year ended: |
Commission File Number: |
(Exact name of registrant as specified in its charter)
Not Applicable | ||||
(Province or Other Jurisdiction of |
(Primary Standard Industrial Classification |
(I.R.S. Employer | ||
Incorporation or Organization) |
Code Number) |
Identification No.) |
, British Columbia V6B 5A1
(604 ) 659-4380
(Address and telephone number of registrant’s principal executive offices)
( |
Copies to: Steven B. Stokdyk, Esq. Latham & Watkins LLP 355 South Grand Avenue, Suite 100 Los Angeles, CA 90071 |
(Name, address (including zip code) and telephone number (including area code) of agent for service in the United States)
Securities registered or to be registered pursuant to Section 12(b) of the Act:
Title of Each Class: |
Trading Symbol |
Name of Each Exchange On Which Registered: | ||
Securities registered or to be registered pursuant to Section 12(g) of the Act: Not applicable
Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: Not applicable
For annual reports, indicate by check mark the information filed with this form:
Indicate the number of outstanding shares of each of the registrant’s classes of capital or common stock as of the close of the period covered by the annual report: As of December 31, 2021, there were 76,390,043 common shares outstanding.
Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. ☒ Yes ☐ No
Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation Yes ☐ No
S-T
(§232.405 of this chapter) during the preceding 12 months (or such shorter period that the Registrant was required to submit such files). ☒ Indicate by check mark whether the registrant is an emerging growth company as defined in Rule
12b-2
of the Exchange Act. Emerging growth company ☒
If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☐
Auditor Firm ID: |
Auditor Name: |
Auditor Location: |
DOCUMENTS INCORPORATED BY REFERENCE
The following documents of Mogo Inc. (the “Registrant” or the “Company”) are filed as exhibits to this Annual Report and are hereby incorporated by reference herein:
● |
||
● |
||
● |
EXPLANATORY NOTE
The Company is a Canadian issuer eligible to file its annual report pursuant to Section 13 of the United States Securities Exchange Act of 1934, as amended (the “Exchange Act”) on Form
40-F.
The Company is a “foreign private issuer” as defined in Rule 3b-4
under the Exchange Act and Rule 405 under the Securities Act of 1933, as amended. Accordingly, the Company’s equity securities are exempt from Sections 14(a), 14(b), 14(c), 14(f) and 16 of the Exchange Act pursuant to Rule 3a12-3.
The Company is permitted, under a multi-jurisdictional disclosure system adopted by the United States, to prepare this Annual Report on Form
40-F
in accordance with Canadian disclosure requirements, which are different from those of the United States. The Company prepares its financial statements in accordance with International Financial Reporting Standards as issued by the International Financial Accounting Boards, and they may be subject to Canadian auditing and auditor independence standards. Accordingly, the financial statements of the Company incorporated by reference in this Annual Report may not be comparable to financial statements of United States companies.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS
This Annual Report contains
forward-looking
statements that relate to the Company’s current expectations and views of future events. In some cases, these forward-looking
statements can be identified by words or phrases such as “may”, “might”, “will”, “expect”, “anticipate”, “estimate”, “intend”, “plan”, “indicate”, “seek”, “believe”, “predict” or “likely”, or the negative of these terms, or other similar expressions intended to identify forward-looking
statements. The Company has based these forward-looking
statements on its current expectations and projections about future events and financial trends that it believes might affect its financial condition, results of operations, business strategy and financial needs. These forward-looking
statements include, among other things, statements relating to the Company’s ability to navigate through the COVID-19 pandemic and the overall economic impact of same, the Company’s expectations regarding its revenue (including loan interest), expenses and operations, key performance indicators, provision for loan losses (net of recoveries) and delinquency ratios, the Company’s anticipated cash needs and its need for additional financing, funding costs, ability to extend or refinance any outstanding amounts under the Company’s credit facility, the Company’s ability to protect, maintain and enforce its intellectual property, third-party claims of infringement or violation of, or other conflicts with, intellectual property rights, the resolution of any legal matters, the Company’s plans for and timing of expansion of its product and services, the Company’s future growth plans, the Company’s ability to attract new members and develop and maintain existing customers, the Company’s ability to attract and retain personnel, the Company’s expectations with respect to advancement of its product offering, the Company’s competitive position and the regulatory environment in which the Company operates, anticipated trends and challenges in the Company’s business and the markets in which it operates, the Company’s historical investment approach, objectives and strategy, including its focus on specific sectors, the structuring of its investments and its plans to manage its investments, and the Company’s expectations regarding the performance of certain sectors in which it has invested. Forward-looking statements are based on certain assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate and are subject to risks and uncertainties. Although we believe that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and we cannot assure that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, any investors or users of this document should not place undue reliance on these forward-looking statements.
Whether actual results, performance or achievements will conform to the Company’s expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors described in the Annual Information Form incorporated by reference in this Annual Report.
The forward-looking statements made in this Annual Report relate only to events or information as of the date of this Annual Report and are expressly qualified in their entirety by this cautionary statement. Except as required by law, we do not assume any obligation to update or revise any of these forward-looking statements to reflect events or circumstances after the date of this Annual Report, including the occurrence of unanticipated events. An investor should read this Annual Report with the understanding that our actual future results may be materially different from what we expect.
DISCLOSURE CONTROLS AND PROCEDURES
The required disclosure is included in Management’s Discussion and Analysis, which is incorporated herein by reference to Exhibit 99.2.
MANAGEMENT’S ANNUAL REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
The required disclosure is included in Management’s Discussion and Analysis, which is incorporated herein by reference to Exhibit 99.2.
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Not applicable
.
CHANGES IN INTERNAL CONTROLS OVER FINANCIAL REPORTING
During the period covered by this Annual Report, no changes occurred in the Company’s internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.
NOTICES PURSUANT TO REGULATION BTR
There were no notices required by Rule 104 of Regulation BTR that the Company sent during the year ended December 31, 2021 concerning any equity security subject to a blackout period under Rule 101 of Regulation BTR.
AUDIT COMMITTEE AND AUDIT COMMITTEE FINANCIAL EXPERT
The Registrant’s Board of Directors (the “Board”) has a separately designated standing audit committee (the “Audit Committee”) established for the purpose of overseeing the accounting and financial reporting processes of the Company and audits of the financial statements of the Company in accordance with Section 3(a)(58)(A) of the Exchange Act. As of the date of this Annual Report, the Company’s Audit Committee is comprised of Christopher Payne, Michael Wekerle and Wendy Rudd as members of the Audit Committee, each of whom the Board has determined is independent, as that term is defined in the listing standards of the NASDAQ Global Market (“Nasdaq”) and Rule
10A-3
of the Exchange Act. The Board has determined that two of the Audit Committee’s members, Christopher Payne and Michael Wekerle qualify as an audit committee financial expert as defined in paragraph (8)(b) of General Instruction B of Form
40-F.
A description of Mr. Christopher Payne and Mr. Michael Wekerle’s qualifications are included in the Annual Information Form, under the headings “Information on the Audit Committee” and “Directors and Officers – Biographies”, which is incorporated herein by reference to Exhibit 99.3. CODE OF ETHICS
The Registrant has adopted a code of ethics that applies to all members of the Board, as well as its officers and employees. A copy of the code of ethics is posted on the Registrant’s Internet website at www.mogo.ca, and is available in print to any person without charge, upon written request to the Chief Legal Officer of the Registrant at the principal executive offices of the Registrant provided above. If there are any amendments to the code of ethics, the Registrant intends to provide a brief description of the amendment and a copy of the amendment via its website. No waivers of the code of ethics have been granted to any principal officer of the Registrant or any person performing similar functions during the year ended December 31, 2021.
PRINCIPAL ACCOUNTANT FEES AND SERVICES
The required disclosure is included in the Annual Information Form, under the heading “Audit Committee Oversight,” which is incorporated herein by reference to Exhibit 99.3.
OFF-BALANCE
SHEET ARRANGEMENTS The required disclosure is included under the heading
“Off-Balance
Sheet Arrangements & Contractual Obligations” in Management’s Discussion and Analysis, which is incorporated herein by reference to Exhibit 99.2. CONTRACTUAL OBLIGATIONS
The required disclosure is included under the heading
“Off-Balance
Sheet Arrangements & Contractual Obligations” in Management’s Discussion and Analysis, which is incorporated herein by reference to Exhibit 99.2. NASDAQ CORPORATE GOVERNANCE
The Registrant’s common shares are listed on Nasdaq. Nasdaq Marketplace Rule 5615(a)(3) permits a foreign private issuer, such as the Registrant, to follow its home country practice in lieu of most of the requirements of the 5600 Series of the Nasdaq Marketplace Rules. For a discussion of the significant differences between our corporate governance practices and those required to be followed by U.S. domestic issuers under Nasdaq’s corporate governance requirements, please refer to our website at
www.mogo.ca
.
MINE SAFETY DISCLOSURE
Not applicable.
DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS
None.
UNDERTAKING
The Company undertakes to make available, in person or by telephone, representatives to respond to inquiries made by the Commission staff, and to furnish promptly, when requested to do so by the Commission staff, information relating to: the securities registered pursuant to Form
40-F;
the securities in relation to which the obligation to file an annual report on Form 40-F
arises; or transactions in said securities. CONSENT TO SERVICE OF PROCESS
The Company has previously filed with the Commission a written consent to service of process on Form
F-X.
Any change to the name or address of the Company’s agent for service shall be communicated promptly to the Commission by amendment to the Form F-X
referencing the file number of the Company. EXHIBIT INDEX
The following documents are being filed with the Commission as exhibits to this Annual Report on Form
40-F.
Exhibit |
Description | |||||
99.1 |
||||||
99.2 |
||||||
99.3 |
||||||
99.4 |
||||||
99.5 |
||||||
99.6 |
||||||
99.7 |
||||||
99.8 |
||||||
SIGNATURES
Pursuant to the requirements of the Exchange Act, the Registrant certifies that it meets all of the requirements for filing on Form
40-F
and has duly caused this Annual Report to be signed on its behalf by the undersigned, thereto duly authorized. MOGO INC. | ||
Date: March 23, 2022 |
By: /s/ Gregory Feller | |
Name: Gregory Feller | ||
Title: President and Chief Financial Officer | ||