None
SEDAR Interim Financial Statements
PNP · Price
[
{
"companyName": "Pinetree Capital Ltd.",
"reportingPeriodEnd": "2025-09-30",
"reportStatus": "Unaudited",
"auditorName": null,
"auditorKeyMatters": [],
"balanceSheet": {
"cashAndCashEquivalents": {
"2025-09-30": 8698,
"2024-12-31": 5127
},
"investmentsAtFairValue": {
"2025-09-30": 81309,
"2024-12-31": 73077
},
"prepaidsAndOtherReceivables": {
"2025-09-30": 62,
"2024-12-31": 66
},
"totalAssets": {
"2025-09-30": 90069,
"2024-12-31": 78270
},
"accountsPayableAndAccruedLiabilities": {
"2025-09-30": 1395,
"2024-12-31": 571
},
"totalLiabilities": {
"2025-09-30": 1395,
"2024-12-31": 571
},
"shareCapital": {
"2025-09-30": 342289,
"2024-12-31": 342289
},
"contributedSurplus": {
"2025-09-30": 108177,
"2024-12-31": 108177
},
"deficit": {
"2025-09-30": -361792,
"2024-12-31": -372767
},
"totalEquity": {
"2025-09-30": 88674,
"2024-12-31": 77699
},
"cashPerShare": 0.9264,
"workingCapitalPerShare": null
},
"incomeStatement": {
"netInvestmentGains": {
"2025-09-30 (3 months)": 1854,
"2024-09-30 (3 months)": 4966,
"2025-09-30 (9 months)": 10937,
"2024-09-30 (9 months)": 15104
},
"otherIncome": {
"2025-09-30 (3 months)": 544,
"2024-09-30 (3 months)": 37,
"2025-09-30 (9 months)": 1657,
"2024-09-30 (9 months)": 386
},
"operatingGeneralAndAdministrative": {
"2025-09-30 (3 months)": 493,
"2024-09-30 (3 months)": 171,
"2025-09-30 (9 months)": 1285,
"2024-09-30 (9 months)": 507
},
"financeExpenses": {
"2025-09-30 (3 months)": 4,
"2024-09-30 (3 months)": 3,
"2025-09-30 (9 months)": 11,
"2024-09-30 (9 months)": -3
},
"foreignExchangeLossGain": {
"2025-09-30 (3 months)": 0,
"2024-09-30 (3 months)": 4,
"2025-09-30 (9 months)": -3,
"2024-09-30 (9 months)": 12
},
"incomeBeforeTaxes": {
"2025-09-30 (3 months)": 1901,
"2024-09-30 (3 months)": 4825,
"2025-09-30 (9 months)": 11301,
"2024-09-30 (9 months)": 14974
},
"incomeTaxExpense": {
"2025-09-30 (3 months)": -82,
"2024-09-30 (3 months)": 1,
"2025-09-30 (9 months)": 326,
"2024-09-30 (9 months)": 7
},
"netIncome": {
"2025-09-30 (3 months)": 1983,
"2024-09-30 (3 months)": 4824,
"2025-09-30 (9 months)": 10975,
"2024-09-30 (9 months)": 14967
},
"earningsPerShareBasic": {
"2025-09-30 (3 months)": 0.21,
"2024-09-30 (3 months)": 0.51,
"2025-09-30 (9 months)": 1.17,
"2024-09-30 (9 months)": 1.59
},
"weightedAverageSharesOutstanding": {
"2025-09-30 (3 months)": 9387000,
"2024-09-30 (3 months)": 9387000,
"2025-09-30 (9 months)": 9387000,
"2024-09-30 (9 months)": 9387000
}
},
"cashFlowStatement": {
"netIncome": {
"2025-09-30 (9 months)": 10975,
"2024-09-30 (9 months)": 14967
},
"netInvestmentGains": {
"2025-09-30 (9 months)": -10937,
"2024-09-30 (9 months)": -15104
},
"proceedsOnDisposalOfInvestments": {
"2025-09-30 (9 months)": 27944,
"2024-09-30 (9 months)": 16828
},
"purchaseOfInvestments": {
"2025-09-30 (9 months)": -26576,
"2024-09-30 (9 months)": -14990
},
"decreaseInPrepaidsAndOtherReceivables": {
"2025-09-30 (9 months)": 4,
"2024-09-30 (9 months)": 77
},
"increaseDecreaseInAccountsPayableAndAccruedLiabilities": {
"2025-09-30 (9 months)": 824,
"2024-09-30 (9 months)": -16
},
"netCashFromOperatingActivities": {
"2025-09-30 (9 months)": 3571,
"2024-09-30 (9 months)": 1762
},
"netIncreaseInCashAndCashEquivalents": {
"2025-09-30 (9 months)": 3571,
"2024-09-30 (9 months)": 1762
},
"cashAndCashEquivalentsBeginningOfPeriod": {
"2025-09-30 (9 months)": 5127,
"2024-09-30 (9 months)": 2168
},
"cashAndCashEquivalentsEndOfPeriod": {
"2025-09-30 (9 months)": 8698,
"2024-09-30 (9 months)": 3930
}
},
"investmentsAndOtherAssets": [
{
"type": "Equities",
"description": "Investments in publicly traded companies, primarily in the technology sector",
"ownershipPercentage": null,
"value": 81309,
"notes": "As at September 30, 2025. Level 1 fair value hierarchy. Includes top five equity investments representing 68% of total assets."
},
{
"type": "Private Company Investments",
"description": "Investments in private companies and other instruments such as loans to investees and convertible debentures",
"ownershipPercentage": null,
"value": 1000,
"notes": "As at September 30, 2025. Level 3 fair value hierarchy. Measured using non-observable inputs; sensitivity +/- 25%."
}
],
"shareStructure": {
"authorizedShares": "unlimited",
"issuedShares": 9387000,
"classesOfShares": ["Common shares", "Class C preferred shares"],
"warrants": [],
"options": [],
"rightsConvertibleInstruments": null
},
"managementCompensation": {
"currency": "CAD",
"periods": {
"2025-09-30 (3 months)": {
"salariesAndBonus": 352,
"directorFees": 19,
"officeRent": 6,
"total": 377
},
"2024-09-30 (3 months)": {
"salariesAndBonus": 30,
"directorFees": 15,
"officeRent": 6,
"total": 51
},
"2025-09-30 (9 months)": {
"salariesAndBonus": 801,
"directorFees": 57,
"officeRent": 18,
"total": 876
},
"2024-09-30 (9 months)": {
"salariesAndBonus": 90,
"directorFees": 45,
"officeRent": 18,
"total": 153
}
},
"namedIndividuals": [
{
"name": "Damien Leonard",
"title": "Director",
"period": "2025-09-30 (9 months)",
"components": {
"salary": null,
"bonus": null,
"total": null
}
},
{
"name": "Howard Riback",
"title": "Director",
"period": "2025-09-30 (9 months)",
"components": {
"salary": null,
"bonus": null,
"total": null
}
}
],
"otherRelatedPartyTransactions": [
{
"counterparty": "L6 Holdings",
"description": "Office rent paid to an entity jointly controlled by the President of the Company",
"amount": 6,
"period": "2025-09-30 (3 months)"
},
{
"counterparty": "L6 Holdings",
"description": "Office rent paid to an entity jointly controlled by the President of the Company",
"amount": 18,
"period": "2025-09-30 (9 months)"
}
]
},
"subsequentEvents": []
}
]
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