Northwire Canada EditionMonday, July 13, 2026
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SEDAR Interim Financial Statements

By The Northwire Desk — AI Analysis Apr 27, 2026 · 16:29 HPL · 0.13 Horizon Petroleum Ltd
HPL · Price

[ { "companyName": "Horizon Petroleum Ltd.", "reportingPeriodEnd": "2026-02-28", "reportStatus": "Unaudited", "auditorName": null, "auditorKeyMatters": [], "balanceSheet": { "cash": 191225, "prepaidExpenses": 160195, "receivables": 20310, "totalCurrentAssets": 371731, "accountsPayableAndAccruedLiabilities": 1360943, "shortTermDebt": 786161, "acquisitionCostPayable": 2699553, "totalCurrentLiabilities": 4846658, "decommissioningObligation": 9747, "longTermDebt": 304930, "totalLiabilities": 5161334, "shareCapital": 22245791, "stockOptionReserve": 396711, "warrants": 429142, "deficit": -27861247, "totalShareholdersDeficiency": -4789603, "totalLiabilitiesAndShareholdersDeficiency": 371731, "cashPerShare": 0.0033, "workingCapitalPerShare": -0.0769 }, "incomeStatement": { "salariesAndBenefits": 235414, "polandLicenses": 127080, "professionalFees": 87003, "office": 58380, "operationsAndDevelopment": 55435, "consultingFees": 49209, "stockBasedCompensation": 30848, "transferAgentAndRegulatoryFees": 18283, "managementFees": 16592, "shareholderCommunication": 9210, "travel": 8551, "bankCharges": 2574, "foreignExchangeGainLoss": -2538, "gainOnSettlementOfDebt": -31667, "totalExpenses": 664373, "interestExpense": 87040, "lossAndComprehensiveLoss": 751412, "basicAndDilutedLossPerCommonShare": -0.01, "weightedAverageNumberOfCommonSharesOutstandingBasic": 58206864, "weightedAverageNumberOfCommonSharesOutstandingDiluted": 58206864 }, "cashFlowStatement": { "lossForThePeriod": -751412, "stockBasedCompensation": 30848, "gainOnSettlementOfDebt": -31667, "interestAccretionOnShortTermDebt": 87040, "unrealisedForeignExchangeLoss": 29502, "changesInNonCashWorkingCapital": { "receivables": 11756, "prepaidExpenses": 31848, "accountsPayableAndAccruedLiabilities": 252172 }, "cashFlowUsedInOperatingActivities": -339913, "proceedsOnShareAndWarrantIssue": 0, "shareIssueCosts": 0, "proceedsOnWarrantsIssued": 0, "proceedsOnConvertibleDebenture": 445000, "convertibleDebentureIssueCosts": -25247, "cashFlowFromFinancingActivities": 419754, "changeInCashDuringThePeriod": 79840, "cashBeginningOfPeriod": 111385, "cashEndOfPeriod": 191225 }, "investmentsAndOtherAssets": [], "shareStructure": { "authorizedShares": "Unlimited common shares without par value and unlimited preferred shares without par value", "issuedShares": 58206864, "classesOfShares": [ "Common shares", "Preferred shares" ], "warrants": [ { "number": 3775000, "exercisePrice": 0.2, "expiryDate": "2026-05-20" }, { "number": 6530227, "exercisePrice": 0.3, "expiryDate": "2028-09-17" }, { "number": 2079182, "exercisePrice": 0.3, "expiryDate": "2028-10-31" }, { "number": 1538500, "exercisePrice": 0.3, "expiryDate": "2029-01-15" }, { "number": 70000, "exercisePrice": 0.1, "expiryDate": "2027-12-24" }, { "number": 140000, "exercisePrice": 0.1, "expiryDate": "2028-02-27" } ], "options": [ { "number": 1900000, "exercisePrice": 0.25, "expiryDate": "2028-05-25" }, { "number": 1040000, "exercisePrice": 0.075, "expiryDate": "2028-04-11" }, { "number": 1420000, "exercisePrice": 0.16, "expiryDate": "2029-12-05" }, { "number": 80000, "exercisePrice": 0.13, "expiryDate": "2029-12-26" } ], "rightsConvertibleInstruments": "Secured Convertible Debentures convertible into common shares and warrants" }, "managementCompensation": { "currency": "CAD", "periods": [ { "periodEnd": "2026-02-28", "duration": "6 months", "components": { "salary": 180000, "shareBased": 30848, "total": 210848 }, "namedIndividuals": [ { "name": "CEO, President, and CFO (aggregate)", "title": "Executive Officers", "period": "6 months ended February 28, 2026", "components": { "salary": 180000, "bonus": null, "total": 210848 } } ], "otherRelatedPartyTransactions": [] } ] }, "subsequentEvents": [ { "eventDate": "2026-03-20", "description": "Closed Secured Convertible Debenture Unit financing of 1,213 units for total proceeds of $1,213,000.", "impactValue": 1213000 }, { "eventDate": "2026-04-13", "description": "Closed first tranche of Secured Convertible Debenture Unit financing of 4,000 units for total proceeds of $4,000,000 on April 13 and April 24, 2026.", "impactValue": 4000000 }, { "eventDate": null, "description": "Prepayment of $720,000 debenture issued May 20, 2025, including accrued interest, for total payment of $828,000 in March and April 2026.", "impactValue": 828000 } ] } ]

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