SEDAR Interim Financial Statements

[
  {
    "companyName": "PROGRESSIVE PLANET SOLUTIONS INC.",
    "reportingPeriodEnd": "2026-01-31",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cashAndCashEquivalents": 2148409,
      "accountsReceivable": 1277609,
      "inventories": 2540961,
      "prepaidExpensesAndOther": 312625,
      "totalCurrentAssets": 6279604,
      "investmentInPublicCompany": 1188300,
      "leaseReceivable": 245004,
      "investmentInPrivateCompany": 474000,
      "propertyPlantAndEquipment": 17369107,
      "mineralProperties": 1952120,
      "explorationAndEvaluationAssets": 88009,
      "totalAssets": 27596144,
      "accountsPayableAndAccruedLiabilities": 2348406,
      "otherCurrentLiabilities": 20000,
      "deferredGrantIncome": 160796,
      "leaseObligationsCurrent": 97382,
      "loansPayableCurrent": 254231,
      "totalCurrentLiabilities": 2880815,
      "longTermLeaseObligations": 1596133,
      "longTermLoansPayable": 5465115,
      "assetRetirementObligations": 245290,
      "deferredIncomeTaxLiability": 1509303,
      "totalLiabilities": 11696656,
      "shareCapital": 30017403,
      "shareBasedPaymentReserve": 6429778,
      "deficit": -20547693,
      "totalEquity": 15899488,
      "cashPerShare": 0.0196,
      "workingCapitalPerShare": 0.0310
    },
    "incomeStatement": {
      "revenue": 16695097,
      "costOfGoodsSold": 7533792,
      "freight": 2220934,
      "amortizationAndDepreciation": 695828,
      "depletion": 11923,
      "totalCostOfSales": 10462477,
      "grossProfit": 6232620,
      "advertisingAndOther": 1033033,
      "personnelSelling": 449196,
      "totalSellingExpenses": 1482229,
      "researchAndDevelopmentCosts": 915031,
      "officeAndAdministration": 840125,
      "personnelGeneralAndAdministrative": 844408,
      "shareBasedCompensation": 234802,
      "consultingFees": 0,
      "professionalFees": 439081,
      "totalGeneralAndAdministrativeExpenses": 2358416,
      "totalExpenses": 4755676,
      "incomeFromOperations": 1476944,
      "financeCosts": 278159,
      "grantIncome": -644274,
      "otherIncomeExpense": -482058,
      "writeOffOfExplorationAndEvaluationAsset": 1209349,
      "incomeLossBeforeIncomeTaxes": 1115768,
      "currentIncomeTaxRecoveryExpense": -83720,
      "deferredIncomeTaxRecoveryExpense": -8331,
      "incomeLossAndComprehensiveIncomeLossForThePeriod": 1207819,
      "basicAndDilutedIncomeLossPerShare": 0.01,
      "weightedAverageNumberOfCommonSharesOutstandingBasic": 109766182
    },
    "cashFlowStatement": {
      "netIncomeForThePeriod": 1207819,
      "reclamationWorkPerformedOnMineralProperties": -7481,
      "amortizationAndDepreciation": 695828,
      "depletionAndAssetRetirementObligationsAccretion": 11923,
      "shareBasedCompensation": 234802,
      "financeCosts": 278159,
      "gainOnSaleOfPropertyPlantAndEquipment": -47834,
      "gainLossOnForeignExchange": -31063,
      "gainOnSettlementOfLeaseLiability": -14166,
      "gainOnInvestmentInAPublicCompany": -161645,
      "gainLossOnInvestmentInAPrivateCompany": -234000,
      "writeOffOfExplorationAndEvaluationAssets": 1209349,
      "deferredIncomeTaxRecovery": -8331,
      "netChangeInNonCashOperatingWorkingCapital": -1009670,
      "netCashProvidedByOperatingActivities": 2123690,
      "purchaseOfPropertyPlantAndEquipment": -4928603,
      "grantIncomeRecognizedForThePurchaseOfPlantAndEquipment": 1068045,
      "proceedsFromDispositionsOfPropertyPlantAndEquipment": 56065,
      "mineralPropertyAdditions": -222239,
      "explorationAndEvaluationAssetsAcquisitionAndExpenditures": -88158,
      "purchaseOfSharesInAPublicCompany": -605955,
      "netCashProvidedByUsedInInvestingActivities": -4720845,
      "repurchasedSharesForCancellation": 0,
      "proceedsFromLoanFinancing": 5680000,
      "loanRepayments": -6323262,
      "repaymentOfBankIndebtedness": -62,
      "paymentsOnLeaseObligations": -143720,
      "leasePaymentsReceived": 29145,
      "proceedsFromTheExerciseOfStockOptions": 74950,
      "netCashUsedInFinancingActivities": -682949,
      "changeInCashDuringThePeriod": -3280104,
      "cashAndCashEquivalentsBeginningOfPeriod": 5428513,
      "cashAndCashEquivalentsEndOfPeriod": 2148409
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Public Company Investment",
        "description": "Investment in a Canadian public company, measured at FVTPL",
        "ownershipPercentage": null,
        "value": 1188300,
        "notes": "Shares purchased in open market. Fair value adjustment of $161,645 gain in period."
      },
      {
        "type": "Private Company Investment",
        "description": "Investment in ZS2 Technologies Ltd. (common shares and warrants), measured at FVTPL",
        "ownershipPercentage": null,
        "value": 474000,
        "notes": "450,000 common shares and 300,000 warrants. Fair value based on private placement price of $1.00 per share."
      },
      {
        "type": "Mineral Property",
        "description": "Red Lake Mine (diatomaceous earth), 100% owned",
        "ownershipPercentage": 100,
        "value": 937698,
        "notes": "Located near Kamloops, BC."
      },
      {
        "type": "Mineral Property",
        "description": "Bud Bentonite Mine, 100% owned",
        "ownershipPercentage": 100,
        "value": 400233,
        "notes": "Located near Princeton, BC."
      },
      {
        "type": "Mineral Property",
        "description": "Bromley Creek Mine (zeolite), 32.1% interest",
        "ownershipPercentage": 32.1,
        "value": 614189,
        "notes": "Located near Princeton, BC. Subject to royalty of $4.50 per metric tonne."
      },
      {
        "type": "Exploration and Evaluation Asset",
        "description": "Ferguson Creek Property (pozzolan mineral property)",
        "ownershipPercentage": 100,
        "value": 61785,
        "notes": "Acquired in June 2025. Additional payments contingent on permit issuance."
      },
      {
        "type": "Exploration and Evaluation Asset",
        "description": "Other exploration properties",
        "ownershipPercentage": null,
        "value": 26224,
        "notes": "Various exploration assets."
      }
    ],
    "shareStructure": {
      "authorizedShares": "unlimited",
      "issuedShares": 110151943,
      "classesOfShares": ["Common shares without par value"],
      "warrants": [],
      "options": [
        {
          "number": 300000,
          "exercisePrice": 0.35,
          "expiryDate": "2026-03-27"
        },
        {
          "number": 300000,
          "exercisePrice": 0.35,
          "expiryDate": "2026-05-11"
        },
        {
          "number": 1875000,
          "exercisePrice": 0.275,
          "expiryDate": "2026-06-13"
        },
        {
          "number": 100000,
          "exercisePrice": 0.29,
          "expiryDate": "2028-10-20"
        },
        {
          "number": 3415000,
          "exercisePrice": 0.18,
          "expiryDate": "2029-03-14"
        },
        {
          "number": 2610000,
          "exercisePrice": 0.18,
          "expiryDate": "2030-05-09"
        }
      ],
      "rightsConvertibleInstruments": null
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "nineMonthsEndedJan312026": {
          "sellingExpensesPersonnel": 76067,
          "generalAndAdministrativePersonnel": 389471,
          "professionalFees": 78867,
          "shareBasedCompensation": 162800,
          "total": 707205
        },
        "nineMonthsEndedJan312025": {
          "sellingExpensesPersonnel": 111655,
          "generalAndAdministrativePersonnel": 374900,
          "professionalFees": 68325,
          "shareBasedCompensation": 0,
          "total": 554880
        }
      },
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": []
    },
    "subsequentEvents": [
      {
        "eventDate": "March 2026",
        "description": "Received second tranche of SDTC grant ($1,112,509) and ICE grant ($268,715) for PozGlass™ Pilot Plant development.",
        "impactValue": 1381224
      }
    ]
  }
]