SEDAR Interim Financial Statements

[
  {
    "companyName": "PreveCeutical Medical Inc.",
    "reportingPeriodEnd": "2025-09-30",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cash": 103677,
      "accountsReceivable": 18806,
      "prepaidAndDeposits": 172152,
      "totalCurrentAssets": 294635,
      "equipment": 3542,
      "intangibleAssets": 157864,
      "totalAssets": 456041,
      "accountsPayableAndAccruedLiabilities": 3252835,
      "callableDebt": 643274,
      "convertibleDebtShortTerm": 3888090,
      "loanCurrent": 0,
      "totalCurrentLiabilities": 7784199,
      "loanLongTerm": 65096,
      "totalLiabilities": 7849295,
      "shareCapital": 20843351,
      "shareBasedCompensationReserve": 1923401,
      "reserves": 1971682,
      "accumulatedOtherComprehensiveIncome": 156763,
      "deficit": -32340689,
      "equityAttributableToOwnersOfParent": -7445492,
      "equityAttributableToNonControllingInterest": 52238,
      "totalShareholdersDeficiency": -7393254,
      "totalLiabilitiesAndShareholdersDeficiency": 456041,
      "cashPerShare": 0.0002,
      "workingCapitalPerShare": -0.0134
    },
    "incomeStatement": {
      "threeMonths2025": {
        "amortization": 3607,
        "businessDevelopmentAndInvestorRelations": -54712,
        "officeAndGeneral": 32766,
        "professionalFees": 263543,
        "rentUtilitiesRepairAndMaintenance": 1221,
        "researchAndDevelopment": 67338,
        "salariesAndWages": 346930,
        "shareBasedCompensation": 44685,
        "transferAgentAndFilingFees": 66383,
        "totalExpenses": 771761,
        "lossFromOperations": -771761,
        "foreignExchangeGainLoss": -5948,
        "interestExpense": -80407,
        "netLoss": -858116,
        "foreignCurrencyTranslationAdjustment": -45762,
        "netLossAndComprehensiveLoss": -903878,
        "basicAndDilutedLossPerCommonShare": -0.001,
        "weightedAverageNumberOfOutstandingShares": 572134983
      },
      "threeMonths2024": {
        "amortization": 2540,
        "businessDevelopmentAndInvestorRelations": 24104,
        "officeAndGeneral": 69253,
        "professionalFees": 81069,
        "rentUtilitiesRepairAndMaintenance": 1337,
        "researchAndDevelopment": 20393,
        "salariesAndWages": 31603,
        "shareBasedCompensation": 0,
        "transferAgentAndFilingFees": 11188,
        "totalExpenses": 241487,
        "lossFromOperations": -241487,
        "foreignExchangeGainLoss": -11873,
        "interestExpense": -82386,
        "netLoss": -335746,
        "foreignCurrencyTranslationAdjustment": -2599,
        "netLossAndComprehensiveLoss": -338345,
        "basicAndDilutedLossPerCommonShare": -0.001,
        "weightedAverageNumberOfOutstandingShares": 536938915
      },
      "nineMonths2025": {
        "amortization": 10789,
        "businessDevelopmentAndInvestorRelations": 493951,
        "officeAndGeneral": 46789,
        "professionalFees": 555371,
        "rentUtilitiesRepairAndMaintenance": 3536,
        "researchAndDevelopment": 141653,
        "salariesAndWages": 587095,
        "shareBasedCompensation": 707277,
        "transferAgentAndFilingFees": 98780,
        "totalExpenses": 2645241,
        "lossFromOperations": -2645241,
        "foreignExchangeGainLoss": 10437,
        "interestExpense": -241739,
        "netLoss": -2876543,
        "foreignCurrencyTranslationAdjustment": -27634,
        "netLossAndComprehensiveLoss": -2904177,
        "basicAndDilutedLossPerCommonShare": -0.005,
        "weightedAverageNumberOfOutstandingShares": 560286809
      },
      "nineMonths2024": {
        "amortization": 7561,
        "businessDevelopmentAndInvestorRelations": 78877,
        "officeAndGeneral": 74988,
        "professionalFees": 285950,
        "rentUtilitiesRepairAndMaintenance": 3538,
        "researchAndDevelopment": 61232,
        "salariesAndWages": 99260,
        "shareBasedCompensation": 0,
        "transferAgentAndFilingFees": 47732,
        "totalExpenses": 659138,
        "lossFromOperations": -659138,
        "foreignExchangeGainLoss": -28715,
        "interestExpense": -245255,
        "netLoss": -993108,
        "foreignCurrencyTranslationAdjustment": -5827,
        "netLossAndComprehensiveLoss": -938935,
        "basicAndDilutedLossPerCommonShare": -0.002,
        "weightedAverageNumberOfOutstandingShares": 536112150
      }
    },
    "cashFlowStatement": {
      "nineMonths2025": {
        "netLossForThePeriod": -2876543,
        "adjustmentsForNetLoss": {
          "amortization": 10789,
          "shareBasedCompensation": 707277,
          "accruedInterest": 233880
        },
        "changeInCashOnWorkingCapitalItems": {
          "accountsReceivable": 9928,
          "prepaidAndDeposits": -138883,
          "accountsPayableAndAccruedLiabilities": 868059
        },
        "netCashUsedInOperatingActivities": -1185493,
        "purchaseOfPropertyAndEquipment": -2960,
        "acquisitionOfIntangibleAssets": -2546,
        "netCashProvidedUsedByInvestingActivities": -5506,
        "proceedsReceivedOnThePlacementOfUnitsNetOfIssuanceCosts": 1230599,
        "fairValueAllocatedToWarrantsIssuedInPrivatePlacementUnits": 80813,
        "repaymentOfShortTermDebtAndLoans": 0,
        "proceedsFromShortTermDebtAndLoans": -98000,
        "proceedsFromTheExerciseOfSecurities": 50000,
        "netCashProvidedByFinancingActivities": 1263412,
        "effectOfChangeInForeignCurrency": -27875,
        "changeInCashDuringThePeriod": 44538,
        "cashBeginningOfPeriod": 59139,
        "cashEndOfPeriod": 103677
      },
      "nineMonths2024": {
        "netLossForThePeriod": -933108,
        "adjustmentsForNetLoss": {
          "amortization": 7561,
          "shareBasedCompensation": 0,
          "accruedInterest": 245255
        },
        "changeInCashOnWorkingCapitalItems": {
          "accountsReceivable": -20429,
          "prepaidAndDeposits": -5824,
          "accountsPayableAndAccruedLiabilities": 345760
        },
        "netCashUsedInOperatingActivities": -360785,
        "purchaseOfPropertyAndEquipment": -1077,
        "acquisitionOfIntangibleAssets": 0,
        "netCashProvidedUsedByInvestingActivities": -1077,
        "proceedsReceivedOnThePlacementOfUnitsNetOfIssuanceCosts": 105800,
        "fairValueAllocatedToWarrantsIssuedInPrivatePlacementUnits": null,
        "repaymentOfShortTermDebtAndLoans": -73000,
        "proceedsFromShortTermDebtAndLoans": 239210,
        "proceedsFromTheExerciseOfSecurities": 90000,
        "netCashProvidedByFinancingActivities": 362010,
        "effectOfChangeInForeignCurrency": -1344,
        "changeInCashDuringThePeriod": -1196,
        "cashBeginningOfPeriod": 1432,
        "cashEndOfPeriod": 236
      }
    },
    "investmentsAndOtherAssets": [],
    "shareStructure": {
      "authorizedShares": "unlimited",
      "issuedShares": 586811959,
      "classesOfShares": ["Common Class A voting shares"],
      "warrants": [
        {
          "number": 2668000,
          "exercisePrice": 0.05,
          "expiryDate": "2026-05-29"
        },
        {
          "number": 11406686,
          "exercisePrice": 0.05,
          "expiryDate": "2027-04-28"
        },
        {
          "number": 3062052,
          "exercisePrice": 0.05,
          "expiryDate": "2027-05-22"
        },
        {
          "number": 8671250,
          "exercisePrice": 0.06,
          "expiryDate": "2027-09-05"
        }
      ],
      "options": [
        {
          "number": 2000000,
          "exercisePrice": 0.03,
          "expiryDate": "2025-11-25"
        },
        {
          "number": 2000000,
          "exercisePrice": 0.03,
          "expiryDate": "2027-02-17"
        },
        {
          "number": 1000000,
          "exercisePrice": 0.03,
          "expiryDate": "2027-03-16"
        },
        {
          "number": 8000000,
          "exercisePrice": 0.025,
          "expiryDate": "2027-07-18"
        },
        {
          "number": 2000000,
          "exercisePrice": 0.03,
          "expiryDate": "2027-12-11"
        },
        {
          "number": 2000000,
          "exercisePrice": 0.03,
          "expiryDate": "2029-01-31"
        },
        {
          "number": 2000000,
          "exercisePrice": 0.03,
          "expiryDate": "2029-03-25"
        },
        {
          "number": 5000000,
          "exercisePrice": 0.045,
          "expiryDate": "2029-05-27"
        },
        {
          "number": 5000000,
          "exercisePrice": 0.045,
          "expiryDate": "2029-06-02"
        },
        {
          "number": 5000000,
          "exercisePrice": 0.045,
          "expiryDate": "2029-06-27"
        }
      ],
      "rightsConvertibleInstruments": null
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "threeMonths2025": {
          "salariesAndWages": 0,
          "managementConsulting": -25007,
          "directorsFees": 346930,
          "total": 321923
        },
        "threeMonths2024": {
          "salariesAndWages": 30233,
          "managementConsulting": 34506,
          "directorsFees": 1370,
          "total": 66109
        },
        "nineMonths2025": {
          "salariesAndWages": 0,
          "managementConsulting": 70844,
          "directorsFees": 587095,
          "total": 657939
        },
        "nineMonths2024": {
          "salariesAndWages": 95093,
          "managementConsulting": 76131,
          "directorsFees": 4053,
          "total": 175277
        }
      },
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "Certain officers and employees",
          "description": "Wages, benefits and consulting fees",
          "amount": 79942,
          "period": "nineMonths2025"
        },
        {
          "counterparty": "Certain officer and past officer",
          "description": "Accrued loan interest payable",
          "amount": 235418,
          "period": "nineMonths2025"
        },
        {
          "counterparty": "Certain officers and directors",
          "description": "Stock options and warrants issued",
          "amount": 92398,
          "period": "nineMonths2025"
        }
      ]
    },
    "subsequentEvents": [
      {
        "eventDate": "2025-10-30",
        "description": "Closed second tranche of $1,200,000 non-brokered private placement, issuing 11,375,000 units at $0.04 per unit for gross proceeds of $455,000. Each unit consists of one common share and one-half of one common share purchase warrant exercisable at $0.06 per share for 24 months, subject to acceleration.",
        "impactValue": 455000
      },
      {
        "eventDate": "2025-11-25",
        "description": "Plan of arrangement with BioGene Therapeutics Inc. became effective. Each existing common share was exchanged for one new common share of PreveCeutical and 0.02 common share of BioGene.",
        "impactValue": null
      },
      {
        "eventDate": "2025-11-24",
        "description": "Lawsuit filed in Supreme Court of British Columbia by Mr. Louis Lapointe and others seeking payment of professional services fees. Company intends to defend.",
        "impactValue": null
      }
    ]
  }
]