SEDAR Interim Financial Statements

[
  {
    "metadata": {
      "companyName": "EarthLabs Inc.",
      "reportingPeriodEnd": "2025-09-30",
      "reportStatus": "Unaudited",
      "auditorName": null,
      "auditorKeyMatters": []
    },
    "balanceSheet": {
      "cashAndCashEquivalents": 4789682,
      "dueFromBrokers": 2635213,
      "accountsReceivableNet": 309152,
      "investmentsAtFairValue": 60553876,
      "equityInvestment": 1757295,
      "salesTaxRecoverable": 21797,
      "incomeTaxReceivable": null,
      "prepaids": 753070,
      "totalCurrentAssets": 70820085,
      "propertyAndEquipmentNet": 144782,
      "rightOfUseAssetsNet": 858503,
      "intangibleAssets": 2737333,
      "goodwill": 624290,
      "totalAssets": 75184993,
      "accountsPayableAndAccruedLiabilities": 1116489,
      "dueToBrokers": 123987,
      "salesTaxPayable": 132243,
      "deferredRevenue": 6113649,
      "leaseLiabilitiesCurrent": 157152,
      "promissoryNote": 766950,
      "totalCurrentLiabilities": 8410470,
      "deferredTaxLiabilities": 2220060,
      "leaseLiabilitiesNonCurrent": 769678,
      "totalLiabilities": 11400208,
      "shareCapital": 46868758,
      "contributedSurplus": 5939523,
      "retainedEarningsDeficit": 10976504,
      "totalEquity": 63784785,
      "cashPerShare": 0.0347,
      "workingCapitalPerShare": 0.4516
    },
    "incomeStatement": {
      "advertisingAndSponsorships": 5379047,
      "subscriptions": 937661,
      "salesOfExplorationMaps": 118252,
      "netInvestmentGains": 31701678,
      "otherIncome": 902295,
      "totalRevenue": 39038933,
      "operatingGeneralAndAdministrative": 9323710,
      "researchAndDevelopment": 1648280,
      "financeExpenses": 93015,
      "totalExpenses": 11065005,
      "lossFromEquityInvestment": -25333,
      "incomeLossBeforeIncomeTaxes": 27948595,
      "incomeTaxExpenseRecovery": 2222083,
      "netIncomeLossAndComprehensiveIncomeLoss": 25726512,
      "earningsLossPerShareBasic": 0.19,
      "earningsLossPerShareDiluted": 0.19,
      "weightedAverageSharesOutstandingBasic": 138187373,
      "weightedAverageSharesOutstandingDiluted": 138428245
    },
    "cashFlowStatement": {
      "netIncomeLoss": 25726512,
      "netInvestmentGains": -31701678,
      "gainOnSaleOfPropertyAndEquipment": -774,
      "lossFromEquityInvestment": 25333,
      "nonCashInterestExpense": 19634,
      "stockBasedCompensationExpense": 53138,
      "amortizationAndDepreciation": 256577,
      "provisionForExpectedCreditLosses": 7968,
      "financeExpense": 93015,
      "deferredTaxExpense": 2220060,
      "acquisitionOfSocialMediaAccounts": null,
      "totalAdjustments": -3300215,
      "proceedsOnDispositionOfInvestments": 22752213,
      "purchasesOfInvestments": -18691983,
      "increaseInDueFromBrokers": -2218306,
      "decreaseIncreaseInAccountsReceivableNet": 202371,
      "decreaseIncreaseInSalesTaxRecoverable": 25990,
      "decreaseInIncomeTaxReceivable": 268362,
      "increaseInPrepaids": -471878,
      "increaseDecreaseInAccountsPayableAndAccruedLiabilities": -581458,
      "increaseInDueToBrokers": 123987,
      "increaseDecreaseInSalesTaxPayable": -65238,
      "increaseInDeferredRevenue": 2661605,
      "netChangeInNonCashWorkingCapital": 705450,
      "cashFlowsFromUsedInOperatingActivities": 667208,
      "proceedsPursuantToExerciseOfOptions": 180000,
      "principalPaymentsOfLeaseLiabilities": -176972,
      "cashFlowsFromUsedInFinancingActivities": 3028,
      "purchasesOfPropertyAndEquipment": -43881,
      "proceedsOnSaleOfPropertyAndEquipment": 2611,
      "cashFlowsUsedInInvestingActivities": -41270,
      "netIncreaseDecreaseInCashAndCashEquivalents": 667208,
      "cashAndCashEquivalentsBeginningOfPeriod": 4122474,
      "cashAndCashEquivalentsEndOfPeriod": 4789682,
      "incomeTaxesPaid": null,
      "interestPaid": 25712
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Equity Investment",
        "description": "Golden Planet Mining Corp. (GPM)",
        "ownershipPercentage": 27.5,
        "value": 1757295,
        "notes": "Equity method, 27.5% ownership, shared management, board representation"
      },
      {
        "type": "Marketable Securities",
        "description": "Investments in public companies (Level 1)",
        "ownershipPercentage": null,
        "value": 32671625,
        "notes": "Quoted prices in active markets"
      },
      {
        "type": "Marketable Securities",
        "description": "Investments with restrictions (Level 2)",
        "ownershipPercentage": null,
        "value": 18546010,
        "notes": "Warrants and restricted common stock of public issuers"
      },
      {
        "type": "Private Equity Investments",
        "description": "Unlisted private equities (Level 3)",
        "ownershipPercentage": null,
        "value": 9336241,
        "notes": "Valued using non-observable market inputs, recent transaction calibration"
      },
      {
        "type": "Investment",
        "description": "Sterling Metals Corp.",
        "ownershipPercentage": null,
        "value": 6352546,
        "notes": "Mineral exploration company, CIO is director and CEO"
      },
      {
        "type": "Investment",
        "description": "Kirkland Lake Discoveries Corp. (KLDC)",
        "ownershipPercentage": null,
        "value": 3944238,
        "notes": "Mineral exploration company, CEO and President are directors of KLDC"
      }
    ],
    "shareStructure": {
      "authorizedShares": "unlimited",
      "issuedShares": 138799095,
      "classesOfShares": ["common"],
      "warrants": [],
      "options": [
        {
          "number": 275000,
          "exercisePrice": 0.68,
          "expiryDate": "2026-04-27"
        },
        {
          "number": 2035000,
          "exercisePrice": 0.485,
          "expiryDate": "2027-05-31"
        },
        {
          "number": 12533333,
          "exercisePrice": 0.2,
          "expiryDate": "2028-09-08"
        },
        {
          "number": 827600,
          "exercisePrice": 0.2,
          "expiryDate": "2028-12-15"
        }
      ],
      "rightsConvertibleInstruments": null
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "nineMonthsEnded2025": {
          "salariesAndConsultingFees": 843750,
          "directorsFees": 60000,
          "stockBasedCompensationExpense": 53138,
          "employeeBenefits": 16887,
          "total": 920637
        },
        "nineMonthsEnded2024": {
          "salariesAndConsultingFees": 843750,
          "directorsFees": 60000,
          "stockBasedCompensationExpense": 233014,
          "employeeBenefits": 15300,
          "total": 966991
        }
      },
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "Harfang Exploration Inc.",
          "description": "Other revenue from Harfang",
          "amount": 5850,
          "period": "Nine months ended September 30, 2025"
        },
        {
          "counterparty": "Officers of the Company",
          "description": "Accounts payable due to officers for reimbursement of expenses",
          "amount": 5076,
          "period": "As at September 30, 2025"
        }
      ]
    },
    "subsequentEvents": [
      {
        "eventDate": null,
        "description": "159,334 options exercisable at prices between $0.20 and $0.485 per share expired",
        "impactValue": null
      }
    ]
  }
]