ONEnergy loses $138,000 in Q3

Executive Summary

• ONEnergy Inc. reported financial results for the three- and nine-month periods ended September 30, 2025, showing a net loss for both periods compared to a net income in the prior year period.
• The nine-month 2024 net income of $10.48 million was primarily driven by a one-time gain on the settlement of unsecured liabilities related to a Division I proposal under the Bankruptcy and Insolvency Act.
• The company received $60,500 in secured grid promissory note advances from director and chairman Stephen J.J. Letwin between August 29, 2025, and November 25, 2025.

Key Details

• Three-Month Period Ended Sept. 30, 2025:
  • Net loss and comprehensive loss: $138,000.
  • Comparison: Net loss of $97,000 for the same period in 2024.
• Nine-Month Period Ended Sept. 30, 2025:
  • Net loss and comprehensive loss: $435,000.
  • Comparison: Net income of $10,005,000 for the same period in 2024.
• 2024 Comparative Context:
  • The 2024 nine-month net income included a gain on settlement of unsecured liabilities of $10.48 million.
  • This gain was related to a Division I proposal implemented pursuant to the Bankruptcy and Insolvency Act (Canada) on June 26, 2024.
• Secured Grid Promissory Note Financing:
  • Lender: Stephen J.J. Letwin (Director and Chairman of the Board).
  • Total Advances: $60,500.
  • Period: Between August 29, 2025, and November 25, 2025.
  • Terms:
    • Not convertible into securities.
    • Secured by a first-ranking security over the company's assets.
    • Permits repayments and additional drawdowns.
    • Annual interest rate: 10%.
• Company Information:
  • Shares listed on the NEX board of the TSX Venture Exchange under symbol OEG.H.
  • Financial statements and MD&A available on SEDAR+.