None
SEDAR Interim Financial Statements
EPIC · Price
[
{
"companyName": "1CM INC.",
"reportingPeriodEnd": "2025-11-30",
"reportStatus": "Unaudited",
"auditorName": null,
"auditorKeyMatters": [],
"balanceSheet": {
"cash": 5633867,
"shortTermInvestments": 669799,
"accountsReceivableAndOtherReceivables": 1114853,
"inventories": 1358934,
"prepaidExpensesAndDeposits": 757404,
"assetsHeldForSale": 25997351,
"totalCurrentAssets": 35532208,
"investment": 25000,
"goodwillAndIntangibles": 4611587,
"rightOfUseAssets": 1424732,
"propertyPlantAndEquipment": 1208446,
"totalAssets": 42801973,
"accountsPayableAndAccruedLiabilities": 1722343,
"salesTaxPayable": 1513530,
"incomeTaxPayable": 834475,
"bridgeLoan": 1849650,
"currentPortionOfLeaseLiabilities": 88311,
"liabilitiesAssociatedWithAssetsHeldForSale": 5174614,
"totalCurrentLiabilities": 11182923,
"deferredTaxLiabilities": 517275,
"leaseLiabilities": 1484187,
"totalLiabilities": 13184385,
"shareCapital": 65946030,
"optionsReserve": 3134538,
"accumulatedDeficit": -39462980,
"totalShareholdersEquity": 29617588,
"cashPerShare": 0.0479,
"workingCapitalPerShare": 0.2069
},
"incomeStatement": {
"sales": 19193324,
"costOfSales": 15082914,
"grossProfit": 4110410,
"salariesWagesAndConsultingFees": 1698490,
"officeAndGeneral": 591380,
"professionalFees": 593607,
"operationalAndUtilities": 134744,
"interestOnLeaseLiabilities": 192971,
"shareBasedCompensation": 185059,
"amortizationOfRightOfUseAssets": 40952,
"amortizationOfIntangibleAssets": 42013,
"depreciation": 37140,
"interestExpense": 20663,
"investorsRelationsAndFees": 19436,
"totalExpenses": 3556455,
"incomeBeforeIncomeTax": 553955,
"deferredTaxRecovery": 11133,
"netIncome": 565088,
"weightedAverageSharesOutstandingBasic": 117736935,
"basicEarningsPerShare": 0.0
},
"cashFlowStatement": {
"netIncome": 565088,
"addBackNonCashItems": {
"interestOnLeaseLiability": 192971,
"shareBasedCompensation": 185059,
"amortizationOfRightOfUseAssets": 40952,
"amortizationOfIntangibleAssets": 42013,
"depreciation": 37140,
"interestExpense": 20663,
"deferredTaxRecovery": -11133
},
"changesInNonCashWorkingCapital": {
"accountsReceivablesAndOtherReceivables": -488763,
"prepaidExpensesAndDeposits": 5531,
"salesTaxPayable": 219586,
"inventories": -190333,
"accountsPayableAndAccruedLiabilities": 75337
},
"cashFlowsFromOperatingActivities": 694111,
"cashFlowsFromFinancingActivities": -303618,
"cashFlowsFromInvestingActivities": -236372,
"increaseInCash": 154121,
"cashBeginningOfPeriod": 5479746,
"cashEndOfPeriod": 5633867
},
"investmentsAndOtherAssets": [
{
"type": "Structured note",
"description": "Structured note issued by a Canadian Schedule I bank maturing August 2032, redeemable at any time without significant penalty.",
"ownershipPercentage": null,
"value": 669799,
"notes": "Measured at fair value through profit or loss (Level 2)."
},
{
"type": "Other investment",
"description": "Investment in an unidentified entity.",
"ownershipPercentage": null,
"value": 25000,
"notes": "Not further described in the financial statements."
}
],
"shareStructure": {
"authorizedShares": "Unlimited",
"issuedShares": 117736935,
"classesOfShares": ["Common shares"],
"warrants": [],
"options": [
{
"number": 1000000,
"exercisePrice": 0.82,
"expiryDate": "2026-03-21"
},
{
"number": 500000,
"exercisePrice": 0.95,
"expiryDate": "2026-06-03"
},
{
"number": 1535000,
"exercisePrice": 1.50,
"expiryDate": "2034-01-09"
}
],
"rightsConvertibleInstruments": null
},
"managementCompensation": {
"currency": "CAD",
"periods": [
{
"periodEnd": "2025-11-30",
"salariesWagesAndConsultingFees": 359250,
"shareBasedCompensation": 185059,
"total": 544309
},
{
"periodEnd": "2024-11-30",
"salariesWagesAndConsultingFees": 199117,
"shareBasedCompensation": 206760,
"total": 405877
}
],
"namedIndividuals": [],
"otherRelatedPartyTransactions": [
{
"counterparty": "Company owned by CEO Tanvi Bhandari",
"description": "Management fee (1.5% of sales plus monthly fee)",
"amount": 281750,
"period": "2025-11-30"
},
{
"counterparty": "Smiths Falls Property Inc. (owned by CEO)",
"description": "Lease payments for properties in Kenora, Cochrane, and Sioux Lookout",
"amount": 24615,
"period": "2025-11-30"
},
{
"counterparty": "Shareholder (bridge loan)",
"description": "Unsecured bridge loan, 10% interest, due on demand",
"amount": 1849650,
"period": "2025-11-30"
}
]
},
"subsequentEvents": [
{
"eventDate": "2025-12-15",
"description": "Amended arrangement with SNDL Inc. to sell 32 cannabis retail stores. First closing of 5 stores in Alberta and Saskatchewan for $5,000,000 expected January 2026. Second closing of 27 Ontario stores for $27,200,000 by May 31, 2026. Non-refundable deposit of $2,000,000 received.",
"impactValue": 2000000
},
{
"eventDate": "2025-12-18",
"description": "Repaid outstanding bridge loan in full.",
"impactValue": -1849650
},
{
"eventDate": "2026-01-07",
"description": "Completed first closing of the sale of 5 cannabis retail stores to SNDL Inc.",
"impactValue": 5000000
}
]
}
]
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