Canadian Halal Investor.

TSX Shariah screener · September 2026

Is dynaCERT Inc. (DYA) Halal?

PASS

dynaCERT Inc. · TSX: DYA · Industrials

The short answer

dynaCERT Inc. (TSX: DYA) is a PASS. The business gate passes: the company designs and sells HydraGEN hydrogen-generator retrofit systems for diesel engines plus HydraLytica telematics — a permissible manufacturing activity with no prohibited segments. The debt gate passes: total interest-bearing debt of C$10.996M at June 30, 2026 (leases included) is about 22.8% of the ~C$48.3M market cap (508,286,682 shares × C$0.095, September 30, 2026) — under the ~33% ceiling; cash of C$5.055M is about 10.5% of market cap — under the ~33% guideline. The income gate passes: the interim statements disclose no interest or finance income (interest expense is reported separately, not netted), effectively 0% of C$207,299 H1 2026 revenue — under the ~5% ceiling. Zoya, Musaffa, and ShariaPortfolio do not cover this ticker as of September 2026. This is a rules-based screening of published figures, not a religious ruling — consult a qualified scholar for personal guidance.

Gate 1 — Business activity: PASS

dynaCERT Inc. is a Canadian cleantech manufacturer: it designs, engineers, manufactures and distributes the HydraGEN™ line of patent-pending transportable hydrogen-generator retrofit units (HG1 for 10–15 litre diesel engines, HG2 for 1–8 litre engines, HG4C/HG6C for large mining and stationary-generator engines) that inject hydrogen and oxygen into the air-intake manifold to improve fuel efficiency and cut emissions, plus the HydraLytica™ telematics software. It also holds a 15% equity stake in Cipher Neutron Inc. (green-hydrogen AEM electrolysers) and is advancing a carbon-credit project. There are no alcohol, gambling, weapons, tobacco, cannabis, conventional-lending/insurance, or pork segments. Servicing the trucking, mining and oil & gas industries as customers does not make the company's own manufacturing activity prohibited. The business gate passes. It trades as TSX: DYA (also OTCQB: DYFSF and Frankfurt: DMJ). Facts only, no fatwa.

Gate 2 — Debt and cash: PASS

Total interest-bearing debt at June 30, 2026 was C$10.996M: loans payable C$3.223M, convertible-note liability C$5.434M (current C$2.552M + non-current C$2.883M, including the C$5M 6% notes issued June 24, 2026), and lease obligations C$2.338M (current C$0.428M + non-current C$1.911M — this site counts leases as debt), per the Q2 2026 interim financial statements. Against a market cap of ~C$48.3M (508,286,682 shares outstanding × C$0.095, September 30, 2026), that is about 22.8% — under the ~33% ceiling. Cash and cash equivalents of C$5.055M (no marketable securities on the balance sheet) are about 10.5% of market cap — under the ~33% guideline. Both measures pass.

Gate 3 — Non-compliant income: PASS

The interim statement of loss discloses no interest or finance income line at all — interest expense (C$161,812 for the six months) is reported separately, so nothing is netted away. Against H1 2026 revenue of C$207,299, non-compliant interest income is effectively 0% — well under the ~5% ceiling. The income gate passes. Note the company remains loss-making with a going-concern warning and an accumulated deficit of C$120.7M, but that is a business-risk observation, not a Shariah-gate input.

Key figures used

Frequently asked questions

Is dynaCERT (DYA) stock halal?

Our September 2026 screen gives dynaCERT Inc. (TSX: DYA) a PASS. All three gates pass: the HydraGEN hydrogen-generator business has no prohibited segments, total interest-bearing debt (about C$11.0M including leases) is about 22.8% of the ~C$48.3M market cap (under the ~33% ceiling), cash of C$5.055M is about 10.5% of market cap (under the ~33% guideline), and no interest income is disclosed (0% of C$207,299 H1 2026 revenue, under the ~5% ceiling). This is a rules-based screening of published figures, not a religious ruling.

What does dynaCERT do?

dynaCERT is a Toronto-based cleantech manufacturer. Its core product is the HydraGEN line of hydrogen-generator retrofit units for diesel engines — HG1 for heavy Class 6–8 trucks, HG2 for smaller engines, and HG4C/HG6C for mining vehicles and stationary generators — plus HydraLytica telematics software that tracks fuel savings and emissions reductions. It also holds a 15% stake in Cipher Neutron Inc. (green-hydrogen electrolysers) and is advancing a carbon-credit project. None of these are prohibited business segments.

How much debt does dynaCERT have compared to its market value?

At June 30, 2026, dynaCERT carried total interest-bearing debt of about C$10.996M: C$3.223M of loans payable, C$5.434M of convertible-note liability (including the C$5M 6% notes issued June 24, 2026), and C$2.338M of lease obligations (leases are counted as debt in this screen). Against a ~C$48.3M market cap (508,286,682 shares at C$0.095 on September 30, 2026), that is about 22.8% — under the ~33% ceiling.

Does dynaCERT earn any interest income?

No interest or finance income is disclosed in dynaCERT's Q2 2026 interim financial statements — the statement of loss shows no such income line, while interest expense (C$161,812 for the six months) is reported separately rather than netted. Non-compliant interest income is therefore effectively C$0 against H1 2026 revenue of C$207,299, or 0% — well under the ~5% ceiling.

Do Zoya, Musaffa, or ShariaPortfolio cover dynaCERT?

No. Searches of Zoya, Musaffa, and ShariaPortfolio in September 2026 found no screening page or rating for dynaCERT (TSX: DYA) — none of the three services covers this ticker, so there is no third-party Shariah rating to report or corroborate. The result above is based solely on dynaCERT's published Q2 2026 financial statements and MD&A.

Sources

Screened 2026-09-30 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.