None
SEDAR Interim Financial Statements
AVNT · Price
[
{
"companyName": "Avant Brands Inc.",
"reportingPeriodEnd": "2026-02-28",
"reportStatus": "Unaudited",
"auditorName": null,
"auditorKeyMatters": [],
"balanceSheet": {
"cash": 763000,
"tradeAndOtherReceivables": 5185000,
"dueFromRelatedParty": 162000,
"prepaidExpensesAndDeposits": 342000,
"biologicalAssets": 4756000,
"inventory": 6001000,
"totalCurrentAssets": 17209000,
"propertyPlantAndEquipment": 28129000,
"intangibleAssets": 940000,
"totalAssets": 46278000,
"accountsPayableAndAccruedLiabilities": 8548000,
"legalProvision": 100000,
"leaseLiabilitiesCurrent": 1308000,
"securedCreditFacilityCurrent": 861000,
"convertibleDebentureBCurrent": 637000,
"dueToRelatedParty": 1521000,
"totalCurrentLiabilities": 12975000,
"leaseLiabilitiesNonCurrent": 10032000,
"securedCreditFacilityNonCurrent": 0,
"convertibleDebentureBNonCurrent": 1872000,
"totalLiabilities": 24879000,
"shareCapital": 110910000,
"contributedSurplus": 11813000,
"accumulatedDeficit": -101324000,
"totalShareholdersEquity": 21399000,
"totalLiabilitiesAndShareholdersEquity": 46278000,
"cashPerShare": 0.0669,
"workingCapitalPerShare": 0.3712
},
"incomeStatement": {
"revenue": 8361000,
"exciseTaxes": -1298000,
"netRevenue": 7063000,
"costOfSales": -5724000,
"grossProfitBeforeFairValueChanges": 1339000,
"unrealizedGainOnChangesInFairValueOfBiologicalAssets": 821000,
"changeInFairValueOfBiologicalAssetsRealizedThroughInventorySold": -2058000,
"grossProfit": 102000,
"administrationAndGeneral": 257000,
"businessFeesAndLicenses": 221000,
"consultingFees": 179000,
"brokerageAndCommissionFees": 558000,
"depreciationAndAmortization": 130000,
"marketingAndAdvertising": 19000,
"professionalFees": 228000,
"salariesAndWages": 1334000,
"shareBasedPayments": 34000,
"travel": 79000,
"totalOperatingExpenses": 3039000,
"netLossFromOperations": -2937000,
"financingCosts": -273000,
"interestAndAccretion": -151000,
"foreignExchangeLoss": -2000,
"provisionForLegalExpenses": -74000,
"interestOnRelatedPartyLoan": 3000,
"netLossBeforeIncomeTax": -3434000,
"netLossAndComprehensiveLoss": -3434000,
"lossPerCommonShareBasic": -0.30,
"lossPerCommonShareDiluted": -0.30,
"weightedAverageSharesOutstandingBasic": 11407934,
"weightedAverageSharesOutstandingDiluted": 11407934
},
"cashFlowStatement": {
"netLoss": -3434000,
"unrealizedGainOnChangesInFairValueOfBiologicalAssets": -821000,
"changeInFairValueOfBiologicalAssetsRealizedThroughInventorySold": 2058000,
"depreciationAndAmortization": 130000,
"interestAndAccretion": 151000,
"interestOnRelatedPartyLoan": -3000,
"financingCosts": 273000,
"shareBasedPayments": 34000,
"provisionForLegalExpenses": 74000,
"changesInWorkingCapitalTradeAndOtherReceivables": 1394000,
"changesInWorkingCapitalPrepaidExpensesAndDeposits": 70000,
"changesInWorkingCapitalBiologicalAssets": -358000,
"changesInWorkingCapitalInventory": 1511000,
"changesInWorkingCapitalAccountsPayableAndAccruedLiabilities": -1250000,
"changesInWorkingCapitalDueToRelatedParty": 489000,
"netCashFlowsFromOperatingActivities": 318000,
"purchaseOfPropertyPlantAndEquipment": -16000,
"proceedsFromLegalSettlement": 0,
"disposalOfPropertyAndEquipment": 0,
"proceedsFromSaleOfMarketableSecurities": 0,
"netCashFlowsFromInvestingActivities": -16000,
"leaseLiabilityPayments": -322000,
"repaymentOfSecuredCreditFacility": -365000,
"repaymentOfConvertibleDebentureA": 0,
"repaymentOfConvertibleDebentureB": -317000,
"loanIssuedToRelatedParty": -20000,
"netCashFlowsFromFinancingActivities": -1024000,
"decreaseInCash": -722000,
"cashBeginningOfPeriod": 1485000,
"cashEndOfPeriod": 763000
},
"investmentsAndOtherAssets": [
{
"type": "Subsidiary",
"description": "3PL Ventures Inc.",
"ownershipPercentage": 100,
"value": null,
"notes": "Vernon, British Columbia"
},
{
"type": "Subsidiary",
"description": "Avant Craft Cannabis Inc.",
"ownershipPercentage": 100,
"value": null,
"notes": "Edmonton, Alberta"
},
{
"type": "Subsidiary",
"description": "Avant K1 Brands Inc.",
"ownershipPercentage": 100,
"value": null,
"notes": "Kelowna, British Columbia"
},
{
"type": "Subsidiary",
"description": "GreenTec Bio-Pharmaceuticals Corp.",
"ownershipPercentage": 100,
"value": null,
"notes": "Kelowna, British Columbia"
},
{
"type": "Subsidiary",
"description": "GreenTec Holdings Ltd.",
"ownershipPercentage": 100,
"value": null,
"notes": "Kelowna, British Columbia"
},
{
"type": "Subsidiary",
"description": "Grey Bruce Farms Incorporated",
"ownershipPercentage": 100,
"value": null,
"notes": "Tiverton, Ontario"
},
{
"type": "Subsidiary",
"description": "The Flowr Group (Okanagan) Inc.",
"ownershipPercentage": 100,
"value": null,
"notes": "Kelowna, British Columbia"
},
{
"type": "Subsidiary",
"description": "Tumbleweed Farms Corp.",
"ownershipPercentage": 100,
"value": null,
"notes": "Chase, British Columbia"
},
{
"type": "Marketable Securities",
"description": "Marketable securities",
"ownershipPercentage": null,
"value": null,
"notes": "Mentioned in cash flow statement with $0 proceeds from sale."
}
],
"shareStructure": {
"authorizedShares": "unlimited",
"issuedShares": 11407934,
"classesOfShares": ["common", "preference"],
"warrants": [
{
"number": 58333,
"exercisePrice": 9.00,
"expiryDate": "2026-07-14"
},
{
"number": 474613,
"exercisePrice": 3.60,
"expiryDate": "2027-06-03"
},
{
"number": 1300000,
"exercisePrice": 1.75,
"expiryDate": "2028-07-26"
},
{
"number": 125000,
"exercisePrice": 1.00,
"expiryDate": "2028-09-28"
}
],
"options": [],
"rightsConvertibleInstruments": "Convertible Debenture B (Note 12). Liability component carrying value: $2,509,000. Equity conversion option: $472,000."
},
"managementCompensation": {
"currency": "CAD",
"periods": {
"2026-02-28": {
"salariesAndWages": 119000,
"directorFees": 34000,
"shareBasedPayments": 9000,
"total": 162000
},
"2025-02-28": {
"salariesAndWages": 135000,
"directorFees": 45000,
"shareBasedPayments": 11000,
"total": 191000
}
},
"namedIndividuals": [],
"otherRelatedPartyTransactions": [
{
"counterparty": "Related party (directors)",
"description": "Accrued directors' fees",
"amount": 159000,
"period": "2026-02-28"
},
{
"counterparty": "Related party (officers)",
"description": "Accrued compensation",
"amount": 1362000,
"period": "2026-02-28"
},
{
"counterparty": "Related party",
"description": "Short-term loan issued, bearing 8.5% interest",
"amount": 150000,
"period": "2026-02-28"
},
{
"counterparty": "Third party",
"description": "Key management personnel services",
"amount": 45000,
"period": "2026-02-28"
}
]
},
"subsequentEvents": [
{
"eventDate": "2026-03-04",
"description": "Settled $495,000 due to related party balance in exchange for 605,493 shares at a deemed price of $0.817 per share.",
"impactValue": 495000
},
{
"eventDate": "2026-03-04",
"description": "Settled $200,000 of additional due to related party balance in exchange for 287,998 shares at a deemed price of $0.694 per share.",
"impactValue": 200000
},
{
"eventDate": "2026-03-05",
"description": "Settled $359,000 due to a vendor in exchange for 535,496 shares at a deemed price of $0.67 per share.",
"impactValue": 359000
},
{
"eventDate": "2026-03-09",
"description": "Extinguished $1,777,000 of Convertible Debenture B in exchange for 1,900,000 units. Each unit consists of one share and half a share purchase warrant exercisable at $0.935.",
"impactValue": 1777000
}
]
}
]
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