None
SEDAR Interim Financial Statements
EWG · Price
[
{
"companyName": "Eat Well Investment Group Inc.",
"reportingPeriodEnd": "2024-06-30",
"reportStatus": "Unaudited",
"auditorName": null,
"auditorKeyMatters": [],
"balanceSheet": {
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"debenture": 1,
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"propertyPlantAndEquipmentNet": 11573554,
"intangibleAssetsNet": 16293138,
"goodwill": 13875298,
"privateInvestmentsAtFairValueThroughProfitOrLoss": 1166663,
"investmentsInMarketableSecurities": 1,
"totalAssets": 58325791,
"accountsPayable": 5025467,
"accruedLiabilities": 2383928,
"interestPayable": 1003617,
"loansPayableCurrentPortion": 11053546,
"totalCurrentLiabilities": 19466558,
"futureIncomeTaxLiability": 5630311,
"loansPayableLongTermPortion": 21732330,
"totalLiabilities": 46829199,
"shareCapital": 57763690,
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"contributedSurplus": 9350265,
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"deficit": -98370947,
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"nonControllingInterestInSubsidiary": 837949,
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"incomeStatement": {
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"grossMargin": {
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"wagesAndSalaries": {
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"employeeBenefits": {
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"professionalFees": {
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"salesAndMarketingExpenses": {
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"corporateInsurance": {
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"corporateDevelopment": {
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"shareholderCosts": {
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"shareBasedCompensation": {
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"depreciationExpense": {
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"amortizationExpense": {
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"totalOperatingExpenses": {
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"threeMonths2023": 3123866,
"sixMonths2024": 5228305,
"sixMonths2023": 7141204
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},
"netOperatingLoss": {
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"sixMonths2024": -3609447,
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},
"otherIncomeExpense": {
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"interestIncomeAndOtherIncome": {
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},
"interestExpense": {
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"gainOnSaleOfSubsidiary": {
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},
"financingAndTransactionCosts": {
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},
"totalOtherIncomeExpense": {
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}
},
"lossIncomeBeforeTaxes": {
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},
"provisionForIncomeTaxes": {
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"lossFromDiscontinuedOperations": {
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"netLossIncome": {
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},
"otherComprehensiveLoss": {
"itemsThatMayBeReclassifiedToIncomeAndLoss": {
"foreignCurrencyTranslation": {
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"sixMonths2023": -147345
},
"totalOtherComprehensiveLossIncome": {
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"sixMonths2024": 224990,
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}
}
},
"comprehensiveLossIncome": {
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"threeMonths2023": 1222249,
"sixMonths2024": -4729766,
"sixMonths2023": -987850
},
"attributableTo": {
"ownersOfTheParent": {
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"sixMonths2024": -5294564,
"sixMonths2023": -932192
},
"nonControllingInterest": {
"threeMonths2024": 177839,
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}
},
"earningsPerShare": {
"continuingOperations": {
"basic": {
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"sixMonths2023": -0.01
},
"diluted": {
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}
},
"discontinuedOperations": {
"basic": {
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"threeMonths2023": -0.00,
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"sixMonths2023": -0.00
},
"diluted": {
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"sixMonths2024": 0.00,
"sixMonths2023": -0.00
}
},
"total": {
"basic": {
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"threeMonths2023": 0.01,
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},
"diluted": {
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}
}
},
"weightedAverageNumberOfSharesOutstanding": {
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},
"diluted": {
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}
}
},
"cashFlowStatement": {
"operatingActivities": {
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"sixMonths2023": -840505
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"itemsNotInvolvingCash": {
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},
"depreciationAndAmortization": {
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"financeAndTransactionCosts": {
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},
"gainOnSaleOfSubsidiary": {
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},
"unrealizedFX": {
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}
},
"changesInNonCashOperatingWorkingCapitalItems": {
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},
"inventory": {
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"prepaidExpensesAndOtherCurrentAssets": {
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},
"deferredTaxLiability": {
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},
"accountsPayable": {
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},
"accruedExpenses": {
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},
"interestPayable": {
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}
},
"cashFlowsUsedInOperatingActivitiesOfContinuingOperations": {
"sixMonths2024": -616648,
"sixMonths2023": -830993
},
"cashFlowsUsedInOperatingActivitiesOfDiscontinuingOperations": {
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},
"cashFlowsUsedInOperatingActivities": {
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}
},
"investingActivities": {
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"sixMonths2023": -893407
},
"disposalOfPropertyPlantAndEquipment": {
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},
"saleOfSubsidiary": {
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},
"cashFlowsUsedInInvestingActivities": {
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"sixMonths2023": -383432
}
},
"financingActivities": {
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},
"proceedsFromLoans": {
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"sixMonths2023": 39484158
},
"feesFromLoans": {
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},
"proceedsFromExerciseOfWarrants": {
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"sixMonths2023": 1068915
},
"repurchaseOfCommonShares": {
"sixMonths2024": 0,
"sixMonths2023": -39750
},
"cashFlowsUsedInFinancingActivitiesOfContinuingOperations": {
"sixMonths2024": -1216722,
"sixMonths2023": -1571099
},
"cashFlowsProvidedByFinancingActivitiesOfDiscontinuingOperations": {
"sixMonths2024": 0,
"sixMonths2023": 52925
},
"cashFlowsUsedInFinancingActivities": {
"sixMonths2024": -1216722,
"sixMonths2023": -1518174
}
},
"effectsOfChangesInForeignExchangeRatesOnCash": {
"sixMonths2024": 224992,
"sixMonths2023": 190088
},
"netChangeInCash": {
"sixMonths2024": -1695009,
"sixMonths2023": -2597397
},
"cashBeginningOfThePeriod": {
"sixMonths2024": 4276888,
"sixMonths2023": 6536199
},
"cashEndOfThePeriod": {
"sixMonths2024": 2581879,
"sixMonths2023": 3938802
},
"supplementalCashFlowInformation": {
"cashPaidForInterest": {
"sixMonths2024": 711164,
"sixMonths2023": 1048849
},
"cashPaidForTaxes": {
"sixMonths2024": 489347,
"sixMonths2023": 1216969
}
}
},
"investmentsAndOtherAssets": [
{
"type": "Private Investment",
"description": "Investment in Amara (Pata Foods, Inc. dba Amara) - Series A preferred shares",
"ownershipPercentage": 28,
"value": 1166663,
"notes": "Carried at fair value through profit or loss. Ownership reverted to 28% due to missed payments on promissory note. See Note 11."
},
{
"type": "Marketable Securities",
"description": "Investment in TRxADE Inc. Series B Preferred Stock",
"ownershipPercentage": null,
"value": 1,
"notes": "Fair value assessed at nominal value due to impairment. See Note 10."
}
],
"shareStructure": {
"authorizedShares": "Unlimited common shares without par value",
"issuedShares": 169661148,
"classesOfShares": [
"Common shares"
],
"warrants": [
{
"number": 1000000,
"exercisePrice": 0.58,
"expiryDate": "2026-07-30"
},
{
"number": 3345333,
"exercisePrice": 1.00,
"expiryDate": "2025-02-15"
},
{
"number": 5201995,
"exercisePrice": 0.75,
"expiryDate": "2024-12-23"
},
{
"number": 558847,
"exercisePrice": 0.55,
"expiryDate": "2024-12-23"
}
],
"options": [
{
"number": 4100000,
"exercisePrice": 0.56,
"expiryDate": "2026-02-26"
}
],
"rightsConvertibleInstruments": "Commitment to issue shares (NPI Consideration) of up to 65,031,826 common shares, convertible at holder's option, no expiry date."
},
"managementCompensation": {
"currency": "CAD",
"periods": {
"sixMonthsEndedJune302024": {
"salaries": 579750,
"benefits": 6919,
"professionalFees": 114534,
"legalFees": 59907,
"rent": 9984,
"shareBasedCompensation": 0,
"total": 771094
},
"sixMonthsEndedJune302023": {
"salaries": 575969,
"benefits": 32959,
"professionalFees": 408973,
"legalFees": 616695,
"rent": 9702,
"shareBasedCompensation": 99800,
"total": 1744098
}
},
"namedIndividuals": [
{
"name": "Marc Aneed",
"title": "Former CEO",
"period": "sixMonthsEndedJune302024",
"components": {
"salary": 284614,
"bonus": null,
"total": 284614
}
},
{
"name": "Marc Aneed",
"title": "Former CEO",
"period": "sixMonthsEndedJune302023",
"components": {
"salary": 306578,
"bonus": null,
"total": 306578
}
},
{
"name": "Daniel Brody",
"title": "CEO and Director",
"period": "sixMonthsEndedJune302024",
"components": {
"salary": 124518,
"bonus": null,
"total": 124518
}
},
{
"name": "Daniel Brody",
"title": "CEO and Director",
"period": "sixMonthsEndedJune302023",
"components": {
"salary": 122798,
"bonus": null,
"total": 122798
}
},
{
"name": "Nick Grafton",
"title": "Director",
"period": "sixMonthsEndedJune302024",
"components": {
"salary": 97500,
"bonus": null,
"total": 97500
}
},
{
"name": "Nick Grafton",
"title": "Director",
"period": "sixMonthsEndedJune302023",
"components": {
"salary": 97500,
"bonus": null,
"total": 97500
}
},
{
"name": "Pat Dunn",
"title": "CFO (via Dunn, Pariser & Peyrot)",
"period": "sixMonthsEndedJune302024",
"components": {
"salary": 208592,
"bonus": null,
"total": 208592
}
},
{
"name": "Pat Dunn",
"title": "CFO (via Dunn, Pariser & Peyrot)",
"period": "sixMonthsEndedJune302023",
"components": {
"salary": 450761,
"bonus": null,
"total": 450761
}
}
],
"otherRelatedPartyTransactions": [
{
"counterparty": "McMillan LLP",
"description": "Legal services",
"amount": 59907,
"period": "sixMonthsEndedJune302024"
},
{
"counterparty": "McMillan LLP",
"description": "Legal services",
"amount": 616695,
"period": "sixMonthsEndedJune302023"
},
{
"counterparty": "Dunn, Pariser & Peyrot",
"description": "Accounting and administration services",
"amount": 208592,
"period": "sixMonthsEndedJune302024"
},
{
"counterparty": "Dunn, Pariser & Peyrot",
"description": "Accounting and administration services",
"amount": 450761,
"period": "sixMonthsEndedJune302023"
},
{
"counterparty": "Daniel Brody (Director)",
"description": "Loan received (consolidated)",
"amount": 443465,
"period": "sixMonthsEndedJune302023"
}
]
},
"subsequentEvents": [
{
"eventDate": "2024-10-18",
"description": "Amendment to Cortland Credit Facility – non-revolving term facility maximum principal reduced to $3,302,529; revolving line of credit maximum reduced to $8,500,000; maturity extended to December 15, 2024.",
"impactValue": null
},
{
"eventDate": "2025-02-01",
"description": "Cortland Credit Facility maturity extended from December 15, 2024 to March 31, 2025.",
"impactValue": null
},
{
"eventDate": "2025-04-28",
"description": "Cortland Credit Facility amended – non-revolving term facility maximum increased to $4,252,723; no further draws; interest rate changed; maturity extended to September 30, 2025.",
"impactValue": null
},
{
"eventDate": "2025-06-26",
"description": "BDC Loan #1 maturity extended to August 25, 2044; interest rate changed to 6.20%. BDC Loan #2 maturity extended to November 25, 2030; interest rate changed to 9.25%.",
"impactValue": null
},
{
"eventDate": "2025-03-01",
"description": "Sale of remaining 158,855 Amara shares for gross proceeds of US$1,250,189 (CAD $1,788,145).",
"impactValue": 1788145
},
{
"eventDate": "2025-01-06",
"description": "Filed lawsuit against TRxADE Health, Inc. (Scienture Holdings) to recover proceeds from Sapientia sale. Outcome uncertain.",
"impactValue": null
},
{
"eventDate": "2025-06-24",
"description": "Completed non-brokered private placement of 9,000,000 units at $0.10 per unit for gross proceeds of $900,000. Each unit includes one common share and one warrant (exercise $0.12, expiry June 24, 2028).",
"impactValue": 900000
}
]
}
]
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Jun 01, 2026 · 14:48