None
SEDAR Interim Financial Statements
SFI · Price
[
{
"companyName": "Solution Financial Inc.",
"reportingPeriodEnd": "2026-01-31",
"reportStatus": "Unaudited",
"auditorName": null,
"auditorKeyMatters": [],
"balanceSheet": {
"2026-01-31": {
"cashAndCashEquivalents": 1819872,
"restrictedCash": 1738490,
"accountsReceivable": 548267,
"depositsAndOtherCurrentAssets": 161284,
"currentPortionOfReceivableUnderFinanceLease": 10197922,
"inventory": 527249,
"totalCurrentAssets": 14993084,
"rightOfUseAssets": 33395,
"receivableUnderFinanceLeases": 21965955,
"propertyUnderOperatingLeases": 166591,
"propertyAndEquipment": 252794,
"totalAssets": 37411819,
"bankIndebtedness": 6997979,
"accountsPayableAndAccruedLiabilities": 366425,
"deferredRevenue": 5421,
"leaseLiabilities": 18216,
"shortTermPortionOfSecuritizationFinancing": 5535791,
"customersDepositsAndAdvances": 537810,
"totalCurrentLiabilities": 13461642,
"leaseLiabilitiesNonCurrent": 15420,
"deferredTaxLiability": 738500,
"customersDepositsNonCurrent": 2026760,
"securitizationFinancingNonCurrent": 9056973,
"totalLiabilities": 25299295,
"shareCapital": 9171643,
"warrantsReserve": 167778,
"contributedSurplus": 792009,
"retainedEarnings": 1981094,
"totalShareholdersEquity": 12112524,
"cashPerShare": 0.0215,
"workingCapitalPerShare": 0.0181
},
"2025-10-31": {
"cashAndCashEquivalents": 1985833,
"restrictedCash": 1599604,
"accountsReceivable": 306197,
"depositsAndOtherCurrentAssets": 176654,
"currentPortionOfReceivableUnderFinanceLease": 9921038,
"inventory": 545116,
"totalCurrentAssets": 14534442,
"rightOfUseAssets": 12201,
"receivableUnderFinanceLeases": 22602356,
"propertyUnderOperatingLeases": 181456,
"propertyAndEquipment": 269844,
"totalAssets": 37600299,
"bankIndebtedness": 8813651,
"accountsPayableAndAccruedLiabilities": 646549,
"deferredRevenue": 8839,
"leaseLiabilities": 0,
"shortTermPortionOfSecuritizationFinancing": 4718337,
"customersDepositsAndAdvances": 484840,
"totalCurrentLiabilities": 14672216,
"leaseLiabilitiesNonCurrent": 13235,
"deferredTaxLiability": 745000,
"customersDepositsNonCurrent": 2004675,
"securitizationFinancingNonCurrent": 7893450,
"totalLiabilities": 25328576,
"shareCapital": 9193065,
"warrantsReserve": 167778,
"contributedSurplus": 792009,
"retainedEarnings": 2118871,
"totalShareholdersEquity": 12271723,
"cashPerShare": 0.0231,
"workingCapitalPerShare": -0.0157
}
},
"incomeStatement": {
"2026-01-31": {
"vehicleSales": 2324938,
"leasingIncome": 849307,
"brokerageCommissions": 10243,
"totalSales": 3184488,
"costOfVehicleSales": 2260831,
"amortizationOfLeasedAssets": 14865,
"grossProfit": 908792,
"salesAndMarketing": 135638,
"generalAndAdministration": 477543,
"provisionForCreditLosses": 0,
"interest": 304391,
"amortization": 26517,
"totalExpenses": 944089,
"netLossBeforeOtherItems": -35297,
"otherIncome": 10954,
"lossBeforeTax": -24343,
"incomeTaxesRecovery": -6500,
"lossAndComprehensiveLoss": -17843,
"basicAndDilutedEarningsPerCommonShare": 0,
"weightedAverageNumberOfCommonSharesOutstanding": 84718031
},
"2025-01-31": {
"vehicleSales": 1555291,
"leasingIncome": 910077,
"brokerageCommissions": 9106,
"totalSales": 2474474,
"costOfVehicleSales": 1473949,
"amortizationOfLeasedAssets": 60438,
"grossProfit": 940087,
"salesAndMarketing": 209467,
"generalAndAdministration": 476542,
"provisionForCreditLosses": 26026,
"interest": 293255,
"amortization": 25839,
"totalExpenses": 1031129,
"netLossBeforeOtherItems": -91042,
"otherIncome": 14447,
"lossBeforeTax": -76595,
"incomeTaxesRecovery": -13000,
"lossAndComprehensiveLoss": -63595,
"basicAndDilutedEarningsPerCommonShare": -0.001,
"weightedAverageNumberOfCommonSharesOutstanding": 85929909
}
},
"cashFlowStatement": {
"2026-01-31": {
"netIncomeLoss": -17843,
"amortizationOfPropertyAndEquipment": 26517,
"accretionExpenseOnLeaseLiabilities": 568,
"deferredIncomeTaxes": -6500,
"amortizationOfPropertyUnderOperatingLease": 14865,
"amortizationOfRightOfUseAssets": 15238,
"provisionForCreditLosses": 0,
"changeInAccountsReceivable": -242070,
"changeInDepositsAndOtherCurrentAssets": 15370,
"changeInInventory": 17867,
"changeInReceivableUnderFinanceLeases": 359517,
"changeInAccountsPayableAndAccruedLiabilities": -280124,
"changeInCustomersDepositsAndAdvances": 75055,
"changeInDeferredRevenue": -3418,
"cashFromOperatingActivities": -24958,
"acquisitionOfPropertyAndEquipment": -9467,
"proceedsFromSaleOfPropertyUnderOperatingLeaseNet": 0,
"interestPaymentOnLeaseLiabilities": -568,
"cashFromInvestingActivities": -10035,
"proceedsRepaymentsFromBankIndebtedness": -1815672,
"proceedsFromSecuritizationFinancing": 3277992,
"loanRepaymentsFromSecuritizationFinancing": -1297015,
"purchaseOfCommonSharesForCancellation": -56440,
"paymentOfLeaseLiabilities": -16031,
"paymentOfDividends": -84916,
"cashFromFinancingActivities": 7918,
"netDecreaseInCashAndCashEquivalents": -27075,
"cashAndCashEquivalentsAndRestrictedCashBeginning": 3585437,
"cashAndCashEquivalentsAndRestrictedCashEnd": 3558362
},
"2025-01-31": {
"netIncomeLoss": -63595,
"amortizationOfPropertyAndEquipment": 25838,
"accretionExpenseOnLeaseLiabilities": 1369,
"deferredIncomeTaxes": -13000,
"amortizationOfPropertyUnderOperatingLease": 60438,
"amortizationOfRightOfUseAssets": 15164,
"provisionForCreditLosses": 26026,
"changeInAccountsReceivable": -20357,
"changeInDepositsAndOtherCurrentAssets": -20657,
"changeInInventory": -168847,
"changeInReceivableUnderFinanceLeases": -2563652,
"changeInAccountsPayableAndAccruedLiabilities": -172536,
"changeInCustomersDepositsAndAdvances": 109500,
"changeInDeferredRevenue": -11901,
"cashFromOperatingActivities": -2796210,
"acquisitionOfPropertyAndEquipment": -21455,
"proceedsFromSaleOfPropertyUnderOperatingLeaseNet": 275434,
"interestPaymentOnLeaseLiabilities": -1369,
"cashFromInvestingActivities": 252610,
"proceedsRepaymentsFromBankIndebtedness": 2341579,
"proceedsFromSecuritizationFinancing": 2968645,
"loanRepaymentsFromSecuritizationFinancing": -1893642,
"purchaseOfCommonSharesForCancellation": -145157,
"paymentOfLeaseLiabilities": -14919,
"paymentOfDividends": -86188,
"cashFromFinancingActivities": 3170318,
"netDecreaseInCashAndCashEquivalents": 626718,
"cashAndCashEquivalentsAndRestrictedCashBeginning": 2187250,
"cashAndCashEquivalentsAndRestrictedCashEnd": 2813968
}
},
"investmentsAndOtherAssets": [
{
"type": "Finance Lease Receivables",
"description": "Conditional sales contracts secured by vehicles, terms 3-72 months, with guaranteed residual values",
"ownershipPercentage": null,
"value": 32163877,
"notes": "Net of allowance for credit losses of $318,966. Aging: Current $32,295,604, 31-60 days $171,568, Over 60 days $15,671."
},
{
"type": "Property under Operating Leases",
"description": "Vehicles leased to customers under operating leases",
"ownershipPercentage": null,
"value": 166591,
"notes": "Net carrying amount. Future minimum lease payments: Within 1 year $38,489, 1-3 years $9,620."
}
],
"shareStructure": {
"authorizedShares": "Unlimited common shares without par value",
"issuedShares": 84506273,
"classesOfShares": ["Common shares"],
"warrants": [],
"options": [],
"rightsConvertibleInstruments": null
},
"managementCompensation": {
"currency": "CAD",
"periods": {
"2026-01-31": {
"remunerationOfDirectorsAndKeyManagement": 95450,
"financingFeesToRelatedParty": 9000,
"legalFeesToRelatedParty": 0
},
"2025-01-31": {
"remunerationOfDirectorsAndKeyManagement": 145462,
"financingFeesToRelatedParty": 9000,
"legalFeesToRelatedParty": 3717
}
},
"namedIndividuals": [],
"otherRelatedPartyTransactions": [
{
"counterparty": "Solution Lease Club (controlled by CEO)",
"description": "Office lease and promotional services - $400 per transaction fee",
"amount": 28500,
"period": "2026-01-31"
},
{
"counterparty": "Solution Lease Club (controlled by CEO)",
"description": "Office lease and promotional services - $400 per transaction fee",
"amount": 45000,
"period": "2025-01-31"
},
{
"counterparty": "Two Directors",
"description": "Automobile lease agreements under standard commercial terms",
"amount": null,
"period": "Ongoing"
}
]
},
"subsequentEvents": []
}
]
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Jun 12, 2026 · 14:57