image
Cipher Mining Inc. CIFR
Financial Services - Financial - Capital Markets - NASDAQ - US
Watchlist
$ 4.1261
1.13 %
$ 1.49 B
Market Cap
-29.47
P/E
1. INTRINSIC VALUE

This DCF valuation model was last updated on Mar, 3, 2025.

The intrinsic value of one CIFR stock under the worst case scenario is HIDDEN Compared to the current market price of 4.13 USD, Cipher Mining Inc. is HIDDEN

CIFR Intrinsic Value
HIDDEN
SHOW

This DCF valuation model was last updated on Mar, 3, 2025.

The intrinsic value of one CIFR stock under the base case scenario is HIDDEN Compared to the current market price of 4.13 USD, Cipher Mining Inc. is HIDDEN

CIFR Intrinsic Value
HIDDEN
SHOW

This DCF valuation model was last updated on Mar, 3, 2025.

The intrinsic value of one CIFR stock under the best case scenario is HIDDEN Compared to the current market price of 4.13 USD, Cipher Mining Inc. is HIDDEN

CIFR Intrinsic Value
HIDDEN
SHOW
2. FUNDAMENTAL ANALYSIS

Price Chart CIFR

image
1M -39%
6M 18%
1Y 44%
3Y 55.0%
5Y --%
All
FINANCIALS
127 M REVENUE
4076.56%
Growth Rates
1Year 4076.56%
3Years 0.00%
5Years 0.00%
7Years 0.00%
10Years 0.00%
-20.1 M OPERATING INCOME
72.96%
Growth Rates
1Year 72.96%
3Years -407.75%
5Years 0.00%
7Years 0.00%
10Years 0.00%
-25.8 M NET INCOME
33.99%
Growth Rates
1Year 33.99%
3Years -522.17%
5Years 0.00%
7Years 0.00%
10Years 0.00%
-94.2 M OPERATING CASH FLOW
-350.59%
Growth Rates
1Year -350.59%
3Years -564.19%
5Years 0.00%
7Years 0.00%
10Years 0.00%
52.8 M INVESTING CASH FLOW
130.33%
Growth Rates
1Year 130.33%
3Years 32.20%
5Years 0.00%
7Years 0.00%
10Years 0.00%
116 M FINANCING CASH FLOW
3843.17%
Growth Rates
1Year 3843.17%
3Years -12.32%
5Years 0.00%
7Years 0.00%
10Years 0.00%
24.1 M REVENUE
-34.52%
Growth Rates
1Year 4076.56%
3Years 0.00%
5Years 0.00%
7Years 0.00%
10Years 0.00%
-91.4 M OPERATING INCOME
-308.48%
Growth Rates
1Year 72.96%
3Years -407.75%
5Years 0.00%
7Years 0.00%
10Years 0.00%
-86.8 M NET INCOME
-467.35%
Growth Rates
1Year 33.99%
3Years -522.17%
5Years 0.00%
7Years 0.00%
10Years 0.00%
-6.54 M OPERATING CASH FLOW
74.18%
Growth Rates
1Year -350.59%
3Years -564.19%
5Years 0.00%
7Years 0.00%
10Years 0.00%
-133 M INVESTING CASH FLOW
-323.63%
Growth Rates
1Year 130.33%
3Years 32.20%
5Years 0.00%
7Years 0.00%
10Years 0.00%
56.6 M FINANCING CASH FLOW
-37.57%
Growth Rates
1Year 3843.17%
3Years -12.32%
5Years 0.00%
7Years 0.00%
10Years 0.00%
Balance Sheet Cipher Mining Inc.
image
Current Assets 155 M
Cash & Short-Term Investments 86.1 M
Receivables 867 K
Other Current Assets 68.5 M
Non-Current Assets 411 M
Long-Term Investments 35.3 M
PP&E 251 M
Other Non-Current Assets 124 M
Current Liabilities 33.8 M
Accounts Payable 4.98 M
Short-Term Debt 4.57 M
Other Current Liabilities 24.2 M
Non-Current Liabilities 41 M
Long-Term Debt 17.4 M
Other Non-Current Liabilities 23.6 M
EFFICIENCY
Earnings Waterfall Cipher Mining Inc.
image
Revenue 127 M
Cost Of Revenue 50.3 M
Gross Profit 76.5 M
Operating Expenses 96.6 M
Operating Income -20.1 M
Other Expenses 5.66 M
Net Income -25.8 M
RATIOS
60.34% GROSS MARGIN
60.34%
Averages
1Year 60.34%
3Years 45.24%
5Years 0.00%
7Years 0.00%
10Years 0.00%
-15.86% OPERATING MARGIN
-15.86%
Averages
1Year -15.86%
3Years -821.73%
5Years 0.00%
7Years 0.00%
10Years 0.00%
-20.32% NET MARGIN
-20.32%
Averages
1Year -20.32%
3Years -435.41%
5Years 0.00%
7Years 0.00%
10Years 0.00%
-5.25% ROE
-5.25%
Averages
1Year -5.25%
3Years -12.97%
5Years 0.00%
7Years 0.00%
10Years 0.00%
-4.55% ROA
-4.55%
Averages
1Year -4.55%
3Years -12.04%
5Years 0.00%
7Years 0.00%
10Years 0.00%
-4.35% ROIC
-4.35%
Averages
1Year -4.35%
3Years -15.66%
5Years 0.00%
7Years 0.00%
10Years 0.00%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis Cipher Mining Inc.
image
Net Income -25.8 M
Depreciation & Amortization 59.9 M
Capital Expenditures -55 M
Stock-Based Compensation 38.5 M
Change in Working Capital -10.7 M
Others -159 M
Free Cash Flow -149 M
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets Cipher Mining Inc.
image
Wall Street analysts predict an average 1-year price target for CIFR of $7.56 , with forecasts ranging from a low of $6 to a high of $9 .
CIFR Lowest Price Target Wall Street Target
6 USD 45.42%
CIFR Average Price Target Wall Street Target
7.56 USD 83.28%
CIFR Highest Price Target Wall Street Target
9 USD 118.12%
4. DIVIDEND ANALYSIS
5. COMPETITION

Iris Energy Limited owns and operates bitcoin mining data centers. It also provides high performance computing solutions, including Al cloud services.

image
-222 USD
IREN
Overvalued 2849.37%

CleanSpark, Inc. provides bitcoin mining and energy technology solutions worldwide. It operates in two segments, Digital Currency Mining and Energy. The Digital Currency Mining segment engages in mining of bitcoin.

image
-459 USD
CLSK
Overvalued 5660.44%

Stronghold Digital Mining, Inc., a crypto asset mining company, focuses on mining Bitcoin in the United States. It also operates coal refuse power generation facilities.

image
-262 USD
SDIG
Overvalued 9173.15%

Bitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in North America. It owns and operates server farms that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees.

image
-11.1 USD
BITF
Overvalued 1054.48%

TeraWulf Inc., together with its subsidiaries, operates as a digital asset technology company in the United States. It develops, owns, and operates bitcoin mining facility sites.

image
-21.5 USD
WULF
Overvalued 644.84%

Argo Blockchain plc, together with its subsidiaries, engages in the bitcoin and other cryptocurrencies mining business worldwide. It engages in mining purpose-built computers for cryptographic algorithms.

image
9.52 USD
ARBK
Undervalued 1734.75%

Greenidge Generation Holdings Inc. operates as an integrated cryptocurrency datacenter and power generation company. The company owns and operates cryptocurrency datacenters in New York and South Carolina.

image
-39.6 USD
GREE
Overvalued 4600.23%

Hut 8 Mining Corp. operates as a cryptocurrency mining company in North America. The company engages in industrial scale bitcoin mining operations.

image
-45 USD
HUT
Overvalued 390.71%

HIVE Blockchain Technologies Ltd. operates as a cryptocurrency mining company in Canada, Sweden, and Iceland. It engages in the mining and sale of digital currencies, including Ethereum, Ethereum Classic, and Bitcoin.

image
-47.3 USD
HIVE
Overvalued 2414.91%

Bit Digital, Inc., together with its subsidiaries, engages in the bitcoin mining business. It is also involved in the treasury management activities.

image
-49.7 USD
BTBT
Overvalued 2116.06%
6. Ownership
Insider Ownership Cipher Mining Inc.
image
Sold
0-3 MONTHS
6.02 M USD 1
3-6 MONTHS
40 M USD 3
6-9 MONTHS
38 M USD 2
9-12 MONTHS
3.54 M USD 1
Bought
0 USD 0
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
Date Value Insider Amount Avg Price
2 months ago
Dec 17, 2024
Sell 23.6 K USD
Bitfury Top HoldCo B.V.
10 percent owner
- 3120
 7.55 USD
2 months ago
Dec 16, 2024
Sell 2.17 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 300000
 7.23 USD
2 months ago
Dec 17, 2024
Sell 1.86 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 250000
 7.42 USD
2 months ago
Dec 05, 2024
Sell 665 K USD
Bitfury Top HoldCo B.V.
10 percent owner
- 91982
 7.23 USD
2 months ago
Dec 06, 2024
Sell 1.31 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 177031
 7.38 USD
3 months ago
Nov 29, 2024
Sell 1.99 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 277618
 7.17 USD
3 months ago
Nov 20, 2024
Sell 48.3 K USD
Bitfury Top HoldCo B.V.
10 percent owner
- 6900
 7 USD
3 months ago
Nov 21, 2024
Sell 516 K USD
Bitfury Top HoldCo B.V.
10 percent owner
- 73500
 7.02 USD
3 months ago
Nov 08, 2024
Sell 381 K USD
Kelly Patrick Arthur
Co-President and COO
- 53161
 7.16 USD
3 months ago
Nov 07, 2024
Sell 1.98 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 300000
 6.6 USD
3 months ago
Nov 06, 2024
Sell 4.2 K USD
Iwaschuk William
Co-President and CLO
- 600
 7 USD
4 months ago
Oct 28, 2024
Sell 6.22 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 1000000
 6.22 USD
4 months ago
Oct 15, 2024
Sell 392 K USD
Kelly Patrick Arthur
Co-President and COO
- 89742
 4.373 USD
5 months ago
Sep 25, 2024
Sell 591 K USD
Iwaschuk William
Co-President and CLO
- 150000
 3.94 USD
5 months ago
Sep 06, 2024
Sell 3.9 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 1421663
 2.74 USD
5 months ago
Sep 06, 2024
Sell 1.32 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 479449
 2.75 USD
5 months ago
Sep 09, 2024
Sell 4.08 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 1421663
 2.87 USD
5 months ago
Sep 09, 2024
Sell 1.38 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 479449
 2.87 USD
5 months ago
Sep 10, 2024
Sell 4.22 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 1421663
 2.97 USD
5 months ago
Sep 10, 2024
Sell 1.7 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 575641
 2.96 USD
5 months ago
Sep 04, 2024
Sell 4.31 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 1421663
 3.03 USD
5 months ago
Sep 04, 2024
Sell 1.44 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 479449
 3.01 USD
5 months ago
Sep 05, 2024
Sell 4.15 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 1421663
 2.92 USD
5 months ago
Sep 05, 2024
Sell 1.4 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 479449
 2.93 USD
7 months ago
Jul 18, 2024
Sell 3.68 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 592980
 6.21 USD
7 months ago
Jul 18, 2024
Sell 117 K USD
Bitfury Top HoldCo B.V.
10 percent owner
- 16664
 7.01 USD
7 months ago
Jul 19, 2024
Sell 1.62 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 261847
 6.17 USD
8 months ago
Jun 27, 2024
Sell 2 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 478606
 4.17 USD
8 months ago
Jun 28, 2024
Sell 2.02 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 490275
 4.12 USD
8 months ago
Jun 24, 2024
Sell 1.92 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 443830
 4.33 USD
8 months ago
Jun 25, 2024
Sell 1.93 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 454073
 4.26 USD
8 months ago
Jun 26, 2024
Sell 2.01 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 466915
 4.3 USD
8 months ago
Jun 18, 2024
Sell 1.86 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 388167
 4.8 USD
8 months ago
Jun 20, 2024
Sell 2.18 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 394357
 5.54 USD
8 months ago
Jun 21, 2024
Sell 1.88 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 416793
 4.51 USD
8 months ago
Jun 13, 2024
Sell 1.73 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 349519
 4.95 USD
8 months ago
Jun 14, 2024
Sell 1.83 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 366042
 5 USD
8 months ago
Jun 17, 2024
Sell 1.81 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 376320
 4.82 USD
8 months ago
Jun 13, 2024
Sell 315 K USD
GROSSMAN CARY M
Director
- 65000
 4.8529 USD
8 months ago
Jun 10, 2024
Sell 1.35 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 319747
 4.21 USD
8 months ago
Jun 11, 2024
Sell 1.26 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 308506
 4.07 USD
8 months ago
Jun 12, 2024
Sell 1.54 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 336377
 4.58 USD
8 months ago
Jun 04, 2024
Sell 1.14 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 302841
 3.77 USD
8 months ago
Jun 05, 2024
Sell 1.17 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 299953
 3.91 USD
8 months ago
Jun 06, 2024
Sell 1.24 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 298950
 4.16 USD
9 months ago
May 30, 2024
Sell 1.11 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 298778
 3.73 USD
9 months ago
May 31, 2024
Sell 1.12 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 303006
 3.69 USD
9 months ago
Jun 03, 2024
Sell 1.15 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 308973
 3.72 USD
9 months ago
May 24, 2024
Sell 1.2 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 294811
 4.08 USD
9 months ago
May 28, 2024
Sell 1.18 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 296357
 3.99 USD
9 months ago
May 29, 2024
Sell 1.16 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 300552
 3.85 USD
1 year ago
Nov 09, 2023
Sell 29.5 M USD
Bitfury Top HoldCo B.V.
10 percent owner
- 10000000
 2.95 USD
1 year ago
Aug 16, 2023
Sell 49.8 K USD
Kelly Patrick Arthur
Co-President and COO
- 15000
 3.32 USD
1 year ago
Aug 17, 2023
Sell 112 K USD
Kelly Patrick Arthur
Co-President and COO
- 35000
 3.19 USD
1 year ago
Aug 10, 2023
Sell 288 K USD
GROSSMAN CARY M
Director
- 79039
 3.64 USD
1 year ago
Aug 10, 2023
Sell 21.2 K USD
GROSSMAN CARY M
Director
- 5961
 3.55 USD
1 year ago
Aug 10, 2023
Sell 358 K USD
Iwaschuk William
Co-President and CLO
- 100000
 3.58 USD
2 years ago
Dec 01, 2022
Sell 28.7 K USD
Page Tyler
Chief Executive Officer
- 35000
 0.8194 USD
2 years ago
Sep 08, 2022
Bought 35.7 K USD
GROSSMAN CARY M
Director
+ 25000
 1.4287 USD
4 years ago
Mar 05, 2021
Sell 4.39 M USD
GLAZER CAPITAL, LLC
10 percent owner
- 400000
 10.98 USD
4 years ago
Feb 24, 2021
Sell 105 K USD
GLAZER CAPITAL, LLC
10 percent owner
- 10000
 10.5 USD
4 years ago
Jan 20, 2021
Sell 56 K USD
GLAZER CAPITAL, LLC
10 percent owner
- 5460
 10.25 USD
4 years ago
Jan 21, 2021
Sell 205 K USD
GLAZER CAPITAL, LLC
10 percent owner
- 20000
 10.25 USD
4 years ago
Jan 22, 2021
Sell 206 K USD
GLAZER CAPITAL, LLC
10 percent owner
- 20000
 10.3 USD
4 years ago
Jan 13, 2021
Sell 43 K USD
GLAZER CAPITAL, LLC
10 percent owner
- 4219
 10.2 USD
4 years ago
Jan 14, 2021
Sell 204 K USD
GLAZER CAPITAL, LLC
10 percent owner
- 20000
 10.2 USD
4 years ago
Jan 08, 2021
Sell 20 K USD
GLAZER CAPITAL, LLC
10 percent owner
- 1972
 10.15 USD
4 years ago
Jan 11, 2021
Sell 203 K USD
GLAZER CAPITAL, LLC
10 percent owner
- 20000
 10.15 USD
4 years ago
Jan 12, 2021
Sell 204 K USD
GLAZER CAPITAL, LLC
10 percent owner
- 20000
 10.2 USD
4 years ago
Dec 24, 2020
Sell 59.3 K USD
GLAZER CAPITAL, LLC
10 percent owner
- 5933
 10 USD
4 years ago
Dec 28, 2020
Sell 201 K USD
GLAZER CAPITAL, LLC
10 percent owner
- 20000
 10.05 USD
4 years ago
Oct 21, 2020
Sell 54 K USD
GLAZER CAPITAL, LLC
10 percent owner
- 5010
 10.77 USD
7. News
Is Cipher Mining (CIFR) Stock Outpacing Its Business Services Peers This Year? Here is how Cipher Mining Inc. (CIFR) and Gambling.com Group Limited (GAMB) have performed compared to their sector so far this year. zacks.com - 2 weeks ago
Wall Street Analysts Think Cipher Mining (CIFR) Could Surge 39.77%: Read This Before Placing a Bet The consensus price target hints at a 39.8% upside potential for Cipher Mining (CIFR). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term. zacks.com - 2 weeks ago
Cipher Mining Announces Date of Fourth Quarter and Full Year 2024 Business Update Conference Call NEW YORK, Feb. 10, 2025 (GLOBE NEWSWIRE) -- Cipher Mining Inc.  (NASDAQ: CIFR) (“Cipher” or the “Company”) today announced it will provide a business update and release its fourth quarter and full year 2024 financial results before U.S. markets open on Tuesday, February 25, 2025. Cipher will host a conference call and webcast that day at 8:00 a.m. Eastern Time. globenewswire.com - 3 weeks ago
Cipher Mining Inc. (CIFR) Increases Despite Market Slip: Here's What You Need to Know In the most recent trading session, Cipher Mining Inc. (CIFR) closed at $5.82, indicating a +1.57% shift from the previous trading day. zacks.com - 4 weeks ago
Cipher Mining Announces January 2025 Operational Update NEW YORK, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ:CIFR) (“Cipher” or the “Company”) today released its unaudited production and operations update for January 2025. globenewswire.com - 4 weeks ago
SoftBank Just Supercharged Cipher Mining's Pivot Beyond Crypto Cipher Mining Inc. received a $50 million investment from SoftBank, boosting its expansion into high-performance computing (HPC) data centers and increasing its stock by 22%. Despite a -20.97x P/E ratio, CIFR's 63.47% jump in adjusted operating earnings signals rapid transformation, attracting growth investors' attention. The balance sheet shows CIFR's financial prudence with $25 million cash against $23 million debt, and low power costs, ensuring resilience against Bitcoin price drops. seekingalpha.com - 4 weeks ago
Cipher Mining Stock Climbs on SoftBank Investment. Analysts Say It's ‘Sign of Things to Come. Cipher Mining unveils a $50 million investment to support the development of data centers. barrons.com - 1 month ago
Cipher Mining Announces $50 Million PIPE Investment from SoftBank Group SoftBank to purchase approximately 10.4 million shares of Cipher common stock for $50 million SoftBank to purchase approximately 10.4 million shares of Cipher common stock for $50 million globenewswire.com - 1 month ago
Cipher Mining Inc. (CIFR) Stock Sinks As Market Gains: Here's Why Cipher Mining Inc. (CIFR) concluded the recent trading session at $4.49, signifying a -0.44% move from its prior day's close. zacks.com - 1 month ago
Cipher Mining Inc. (CIFR) Rises Yet Lags Behind Market: Some Facts Worth Knowing In the latest trading session, Cipher Mining Inc. (CIFR) closed at $5.53, marking a +0.36% move from the previous day. zacks.com - 1 month ago
Cipher Mining Announces December 2024 Operational Update NEW YORK, Jan. 06, 2025 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ:CIFR) (“Cipher” or the “Company”) today released its unaudited production and operations update for December 2024. globenewswire.com - 1 month ago
Is Cipher Mining (CIFR) a Buy as Wall Street Analysts Look Optimistic? Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter? zacks.com - 2 months ago
8. Profile Summary

Cipher Mining Inc. CIFR

image
COUNTRY US
INDUSTRY Financial - Capital Markets
MARKET CAP $ 1.49 B
Dividend Yield 0.00%
Description Cipher Mining Inc., a technology company, operates in the bitcoin mining ecosystem in the United States. It engages in developing and growing a cryptocurrency mining business that specializes in bitcoin. The company was incorporated in 2021 and is based in New York, New York.
Contact 1 Vanderbilt Avenue, New York, NY, 10017 https://www.ciphermining.com
IPO Date Oct. 20, 2020
Employees 35
Officers Ms. Courtney Knight Head of Investor Relations Mr. Samy Biyadi Head of Power Mr. Edward John Farrell CPA Chief Financial Officer Mr. Patrick Arthur Kelly Co-President & Chief Operating Officer Mr. Bryan Keller Chief Technology Officer Ms. Courtney Frazier Head of Corporate Operations Chris Totin Chief Construction Officer Ms. Olivia Stennett Chief Administrative Officer Mr. Rodney Tyler Page Chief Executive Officer & Director Mr. William Iwaschuk Co-President, Chief Legal Officer & Corporate Secretary