Universal Digital refiles FY 2025, Q1 FY 2026 results

Executive Summary

• Universal Digital Inc. has amended, restated, and refiled its audited consolidated financial statements for the fiscal year ended January 31, 2025, and its unaudited interim financial statements for the three-month period ended April 30, 2025, along with corresponding Management’s Discussion and Analysis (MD&A).
• The restatement was triggered by a continuous disclosure review by the British Columbia Securities Commission (BCSC), which identified the need to revise assumptions regarding the fair value of common shares issued in connection with a December 2024 debt settlement transaction and an April 2025 acquisition of 19% of Geometric Galaxy Ltd.
• The company states that the restatements do not impact its continuing operations or cash position, and the previous financial documents are no longer valid or relied upon.

Key Details

• Filings Amended:
  • Audited consolidated financial statements for the fiscal year ended January 31, 2025.
  • Unaudited condensed consolidated financial statements for the three-month period ended April 30, 2025.
  • Corresponding Management’s Discussion and Analysis (MD&A) for both periods.
• Reason for Restatement:
  • Result of a continuous disclosure review by the BCSC.
  • Management and auditors determined that assumptions under International Financial Reporting Standards (IFRS) for calculating the fair value of common shares needed revision.
• Specific Transactions Affected:
  • Debt settlement transaction completed in December 2024.
  • Acquisition of 19% of the issued and outstanding shares of Geometric Galaxy Ltd. in April 2025.
• Financial Impact:
  • No impact on continuing operations.
  • No impact on cash position.
  • Further details are located in Note 15 of the annual financial statements and Note 17 of the interim financial statements.
• Regulatory Status:
  • Restated documents are available under the company's profile on SEDAR+.
  • Previous documents are replaced and should no longer be relied upon.