SEDAR Interim Financial Statements

[ { "companyName": "SPIRIT BLOCKCHAIN CAPITAL INC.", "reportingPeriodEnd": "2025-09-30", "reportStatus": "Unaudited", "auditorName": "SRCO Professional Corporation", "auditorKeyMatters": [], "balanceSheet": { "assets": { "currentAssets": { "cash": 75676, "amountsReceivable": 0, "digitalAssets": 37425, "prepaidExpenses": 392137, "totalCurrentAssets": 505238 }, "nonCurrentAssets": { "investment": 69605, "convertibleNotesReceivable": 163543, "totalNonCurrentAssets": 233148 }, "totalAssets": 738386 }, "liabilities": { "currentLiabilities": { "accountsPayableAndAccruedLiabilities": 1602141, "currentPortionOfConvertibleDebentures": 0, "derivativeLiability": 0, "subscriptionDeposits": 0, "totalCurrentLiabilities": 1602141 }, "nonCurrentLiabilities": { "convertibleDebentures": 105055, "totalNonCurrentLiabilities": 105055 }, "totalLiabilities": 1707196 }, "shareholdersDeficiency": { "shareCapital": 23313565, "contributedSurplus": 6639453, "accumulatedOtherComprehensiveLoss": -63862, "deficit": -30857966, "totalShareholdersDeficiency": -968810 }, "derivedMetrics": { "cashPerShare": 0.0005, "workingCapitalPerShare": -0.0070 } }, "incomeStatement": { "period": "Three months ended September 30, 2025", "operatingExpenses": { "consultingFees": 207389, "filingFees": 2754, "generalAndAdministrative": 154099, "professionalFees": 321621, "researchAndDevelopment": 110007, "shareBasedCompensation": 422, "totalOperatingExpenses": 796292 }, "otherIncomeExpenses": { "accretionExpense": -2856, "changeInFairValueOfDigitalAssets": -2192, "foreignExchangeGainLoss": 4112, "gainOnSettlementOfAccountsPayableAndAccruedLiabilities": 0, "interestExpense": -2269, "otherIncome": 3477, "provisionForExpectedCreditLosses": -16791, "realizedGainLossOnSaleOfDigitalAssets": 1898, "totalOtherIncomeExpenses": -14621 }, "netLoss": -810913, "otherComprehensiveIncomeLoss": { "changeInFairValueOfDigitalAssets": 0, "changeInForeignCurrencyTranslation": -6828, "totalOtherComprehensiveIncomeLoss": -6828 }, "comprehensiveLoss": -817741, "netLossPerCommonShare": { "basicAndDiluted": -0.01 }, "weightedAverageNumberOfCommonShares": { "basicAndDiluted": 157448025 } }, "cashFlowStatement": { "period": "Nine months ended September 30, 2025", "operatingActivities": { "netLoss": -3167908, "adjustmentsFor": { "shareBasedCompensation": 1266, "accretionExpense": 8083, "changeInFairValueOfDigitalAssets": 1933, "unrealizedForeignExchangeLossGain": 7537, "gainOnSettlementOfAccountsPayableAndAccruedLiabilities": -151281, "interestExpense": 6732, "otherIncome": -10461, "provisionForExpectedCreditLosses": 98843, "realizedGainLossOnSaleOfDigitalAssets": -1898 }, "changesInNonCashWorkingCapitalItems": { "amountsReceivable": -96274, "dueFromRelatedParties": 0, "prepaidExpenses": -290200, "accountsPayableAndAccruedLiabilities": 809836 }, "cashUsedInOperatingActivities": -2783792 }, "investingActivities": { "loanReceivableProvidedToTroonTechnologies": 0, "convertibleNotesReceivableProvidedToCoinChange": 0, "proceedsFromRepaymentOfAmountsReceivableFromInvestDEFY": 0, "proceedsFromSalesOfDigitalAssets": 38600, "paymentForInvestmentInCryptoSlam": 0, "cashProvidedByInvestingActivities": 38600 }, "financingActivities": { "proceedsFromIssuanceOfUnitsInPrivatePlacement": 58096, "proceedsFromIssuanceOfUnitsInLIFEOffering": 2113274, "proceedsFromIssuanceOfConvertibleDebentures": 0, "proceedsFromExerciseOfWarrants": 11977, "repaymentOfInterestOnConvertibleDebentures": -4570, "shareIssuanceCostsPaidInCash": -271559, "cashProvidedByFinancingActivities": 1907218 }, "effectOfExchangeRateOnChangesInCash": -15544, "changeInCash": -853518, "cashBeginningOfPeriod": 929194, "cashEndOfPeriod": 75676 }, "investmentsAndOtherAssets": [ { "type": "SAFE", "description": "Investment in CryptoSlam via simple agreement for future equity", "ownershipPercentage": null, "value": 69605, "notes": "Invested $67,595 (US$50,000) on March 7, 2024. Converts to equity upon triggering events like equity financing or liquidation." }, { "type": "Convertible Note", "description": "Convertible notes receivable in CoinChange", "ownershipPercentage": null, "value": 163543, "notes": "Principal amount $133,310, accrues interest at 10% per annum, matures December 5, 2026. Convertible into common shares of CoinChange under conditions such as Qualified Financing, IPO, or Sale of Corporation." } ], "shareStructure": { "authorizedShares": "unlimited", "issuedShares": 157448025, "classesOfShares": ["common shares"], "warrants": [ { "number": 136150, "exercisePrice": 0.18, "expiryDate": "2025-12-05" }, { "number": 700000, "exercisePrice": 0.18, "expiryDate": "2026-03-28" }, { "number": 100000, "exercisePrice": 0.18, "expiryDate": "2026-10-02" }, { "number": 13760459, "exercisePrice": 0.05, "expiryDate": "2026-11-22" }, { "number": 3960272, "exercisePrice": 0.26, "expiryDate": "2026-12-17" }, { "number": 441505, "exercisePrice": 0.26, "expiryDate": "2027-01-16" }, { "number": 7210911, "exercisePrice": 0.25, "expiryDate": "2027-02-18" } ], "options": [ { "number": 1800378, "exercisePrice": 0.13, "expiryDate": "2026-07-31" }, { "number": 333333, "exercisePrice": 0.05, "expiryDate": "2027-11-01" }, { "number": 1127079, "exercisePrice": 0.15, "expiryDate": "2027-02-18" } ], "rightsConvertibleInstruments": null }, "managementCompensation": { "currency": "CAD", "periods": { "threeMonthsEndedSeptember302025": { "consultingFees": 194153, "shareBasedCompensation": 422 }, "nineMonthsEndedSeptember302025": { "consultingFees": 808995, "shareBasedCompensation": 1266 }, "threeMonthsEndedSeptember302024": { "consultingFees": 212400, "shareBasedCompensation": 2253 }, "nineMonthsEndedSeptember302024": { "consultingFees": 864625, "shareBasedCompensation": 11541 } }, "namedIndividuals": [], "otherRelatedPartyTransactions": [ { "counterparty": "Related parties", "description": "Accounts payable and accrued liabilities", "amount": 309407, "period": "As at September 30, 2025" } ] }, "subsequentEvents": [ { "eventDate": "2025-11-01", "description": "166,667 RSUs expired unexercised", "impactValue": null } ] } ]