SEDAR Interim Financial Statements

[
  {
    "companyName": "Vencanna Ventures Inc.",
    "reportingPeriodEnd": "2025-07-31",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "assets": {
        "currentAssets": {
          "cashAndCashEquivalents": [317161, 598215],
          "accountsReceivable": [310341, 347138],
          "inventory": [347272, 529509],
          "otherReceivables": [585, 27909],
          "prepaidExpenses": [81572, 77941],
          "totalCurrentAssets": [1056931, 1580712]
        },
        "nonCurrentAssets": {
          "deposits": [319825, 339832],
          "investments": [2278, 2283],
          "propertyAndEquipment": [3391501, 3486539],
          "intangibleAssets": [196000, 201600],
          "totalNonCurrentAssets": [3907604, 4029254]
        },
        "totalAssets": [4966535, 5610966]
      },
      "liabilities": {
        "currentLiabilities": {
          "accountsPayableAndAccruedLiabilities": [1445495, 1388616],
          "leaseLiabilitiesCurrentPortion": [389143, 356669],
          "totalCurrentLiabilities": [1834638, 1745285]
        },
        "nonCurrentLiabilities": {
          "leaseLiabilities": [1688441, 1713639],
          "deferredTaxLiability": [113000, 113000],
          "totalNonCurrentLiabilities": [1801441, 1826639]
        },
        "totalLiabilities": [3636079, 3571924]
      },
      "equity": {
        "shareCapital": [19804026, 19804026],
        "warrantReserve": [41445, 41445],
        "contributedSurplus": [4890031, 4890031],
        "accumulatedOtherComprehensiveIncomeLoss": [-62583, -59017],
        "accumulatedDeficit": [-21527011, -20965327],
        "equityAttributedToShareholders": [3145908, 3711158],
        "nonControllingInterest": [-1815452, -1672116],
        "totalShareholdersEquity": [1330456, 2039042]
      },
      "derivedMetrics": {
        "cashPerShare": [0.0014, 0.0027],
        "workingCapitalPerShare": [-0.0035, -0.0007]
      }
    },
    "incomeStatement": {
      "revenues": [560345, 1254315],
      "costOfSales": [-812301, -1168343],
      "grossProfit": [-251956, 85972],
      "expenses": {
        "amortizationAndDepreciation": [45200, 343210],
        "consultingFees": [14661, 0],
        "corporateCommunication": [6119, 9264],
        "developmentAndLicences": [800, 18475],
        "interestAndBankCharges": [2357, 11896],
        "interestAndAccretionOnLeases": [81420, 120501],
        "marketingAndSelling": [35437, 35530],
        "officeAndMiscellaneous": [44497, 20488],
        "professionalFees": [71775, 121340],
        "propertyTaxesAndUtilities": [12261, 52984],
        "salariesBenefitsAndBonuses": [137540, 314988],
        "travelMealsAndEntertainment": [1393, 5167],
        "totalExpenses": [-453460, -1053843]
      },
      "otherIncomeAndExpenses": {
        "interestIncome": [396, 13190],
        "foreignExchange": [0, -939],
        "totalOtherIncome": [396, 12251]
      },
      "netLoss": [-705020, -955620],
      "netLossAttributedTo": {
        "vencannaVenturesInc": [-561684, -786669],
        "nonControllingInterest": [-143336, -168951]
      },
      "otherComprehensiveIncomeLoss": {
        "foreignExchange": [-3566, 162611],
        "totalOtherComprehensiveIncomeLoss": [-3566, 162611]
      },
      "totalComprehensiveLoss": [-708586, -793009],
      "weightedAverageSharesOutstanding": [222644952, 222644952]
    },
    "cashFlowStatement": {
      "operatingActivities": {
        "netLoss": [-705020, -955620],
        "adjustmentsForNonCashItems": {
          "amortizationAndDepreciation": [45200, 343210],
          "interestAndAccretionOnLeaseLiabilities": [81420, 120501]
        },
        "changesInWorkingCapital": {
          "prepaidExpenses": [-3631, 25954],
          "receivables": [64849, 72213],
          "inventory": [284445, -323638],
          "deposits": [0, 2042],
          "accountsPayableAndAccruedLiabilities": [56020, 185284]
        },
        "netCashUsedInOperatingActivities": [-176717, -529954]
      },
      "investingActivities": {
        "purchaseOfPropertyPlantAndEquipment": [-34367, 0],
        "netCashProvidedByInvestingActivities": [-34367, 0]
      },
      "financingActivities": {
        "leasePayments": [-52887, -187670],
        "netCashUsedInFinancingActivities": [-52887, -187670]
      },
      "effectOfExchangeRateChanges": [-17083, 166530],
      "changeInCashAndCashEquivalents": [-281054, -551094],
      "cashAndCashEquivalentsBeginning": [598215, 2554578],
      "cashAndCashEquivalentsEnd": [317161, 2003484]
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Marketable Securities",
        "description": "Investments at fair value through profit or loss",
        "ownershipPercentage": null,
        "value": 2278,
        "notes": "FVTPL, level 1 inputs"
      },
      {
        "type": "Controlled Entity",
        "description": "The Cannavative Group LLC (Cannavative) - licensed manufacturer and distributor of cannabis flower and extracted products in Nevada",
        "ownershipPercentage": 100,
        "value": null,
        "notes": "Acquired on April 30, 2024, wholly owned."
      },
      {
        "type": "Controlled Entity",
        "description": "TGC New Jersey LLC (TGC)",
        "ownershipPercentage": 0,
        "value": null,
        "notes": "Controlled entity, no direct ownership, 100% non-controlling interest, Class 1 Annual Cultivation License, Class 2 Annual Manufacturing License, and Class 5 Conditional Retail License."
      },
      {
        "type": "Controlled Entity",
        "description": "CGT New Jersey LLC (CGT)",
        "ownershipPercentage": 0,
        "value": null,
        "notes": "Controlled entity, no direct ownership, 100% non-controlling interest, Conditional Retail License."
      },
      {
        "type": "Controlled Entity",
        "description": "October Gold LLC (OG)",
        "ownershipPercentage": 0,
        "value": null,
        "notes": "Controlled entity, no direct ownership, 100% non-controlling interest, Conditional Retail License."
      },
      {
        "type": "Intangible Asset",
        "description": "Brand",
        "ownershipPercentage": null,
        "value": 196000,
        "notes": "Acquired as part of Cannavative acquisition, useful life 10 years, carrying amount $196,000 as at July 31, 2025."
      },
      {
        "type": "Intangible Asset",
        "description": "Licenses",
        "ownershipPercentage": null,
        "value": 0,
        "notes": "Acquired as part of Cannavative acquisition, indefinite life, impaired to $0 as at April 30, 2025."
      }
    ],
    "shareStructure": {
      "authorizedShares": "Unlimited common shares; 550,000,000 shares for Vencanna Acquisition Inc. (100,000 Class A and 549,900,000 Class B Exchangeable Shares)",
      "issuedShares": 278619556,
      "classesOfShares": ["Common Shares", "Exchangeable Shares"],
      "warrants": [
        {
          "number": 12330554,
          "exercisePrice": 0.13,
          "expiryDate": "2025-10-31",
          "currency": "CAD"
        }
      ],
      "options": [],
      "rightsConvertibleInstruments": "Exchangeable Shares are convertible into Common Shares on a 1:1 basis."
    },
    "managementCompensation": {
      "currency": "USD",
      "periods": ["2025", "2024"],
      "namedIndividuals": [
        {
          "name": "CEO",
          "title": "CEO",
          "period": "2025",
          "components": {
            "salary": 36617,
            "bonus": null,
            "total": 36617
          }
        },
        {
          "name": "CEO",
          "title": "CEO",
          "period": "2024",
          "components": {
            "salary": 33222,
            "bonus": null,
            "total": 33222
          }
        },
        {
          "name": "CFO and Chairman",
          "title": "CFO and Chairman",
          "period": "2025",
          "components": {
            "salary": 23885,
            "bonus": null,
            "total": 23885
          }
        },
        {
          "name": "CFO and Chairman",
          "title": "CFO and Chairman",
          "period": "2024",
          "components": {
            "salary": 23348,
            "bonus": null,
            "total": 23348
          }
        }
      ],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "Directors and executives",
          "description": "Amounts outstanding to directors and executives",
          "amount": 4363,
          "period": "2025-07-31"
        }
      ]
    },
    "subsequentEvents": []
  }
]