SEDAR Interim Financial Statements

Pioneering Technology Corp. Unaudited Condensed Interim Consolidated Financial Statements For the three months ended December 31, 2025 and 2024 Pioneering Technology Corp. For the three months ended December 31, 2025, and 2024 2 | P a g e MANAGEMENT’S RESPONSIBILITY FOR FINANCIAL REPORTING NOTICE OF NO AUDITOR REVIEW OF INTERIM CONSOLIDATED FINANCIAL STATEMENTS Under National Instrument 51-102, Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of the condensed interim consolidated financial statements, they must be accompanied by a notice indicating that the condensed interim consolidated financial statements have not been reviewed by an auditor. The accompanying condensed interim consolidated financial statements of Pioneering Technology Corp. (the “Company”) have been prepared by and are the responsibility of the Company’s management. The condensed interim consolidated financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”) and reflect management’s best estimates and judgment based on information currently available. The Company’s independent auditor has not performed a review of these condensed interim consolidated financial statements. “Kevin Callahan” Kevin Callahan CEO March 2, 2026 Pioneering Technology Corp. Condensed Interim Consolidated Statements of Financial Position As at December 31, 2025 (Unaudited) Expressed in Canadian Dollars The accompanying are an integral part of these unaudited condensed interim consolidated financial statements. 3 | P a g e Note December 31, 2025 September 30, 2025 ASSETS CURRENT ASSETS Cash 10 12,332 $ 138,990 $ Trade and other receivables 6 287,469 444,116 Inventories 7 1,210,867 1,329,077 Prepaid expenses and deposits 70,288 40,011 Current portion of lease receivable 13 158,567 155,126 1,739,523 2,107,320 Property and equipment 8 272,730 306,120 Patents and intangibles 9 209,861 214,945 Lease receivable 13 265,372 306,059 TOTAL ASSETS 2,487,486 $ 2,934,444 $ LIABILITIES CURRENT LIABILITIES Trade payables and accrued liabilities 11 744,935 $ 936,196 $ Current portion of lease obligation 12 258,456 252,247 1,003,391 1,188,443 Long-term lease obligation 12 378,108 445,056 TOTAL LIABILITIES 1,381,499 $ 1,633,499 $ SHAREHOLDERS' EQUITY Common share capital 14 (a) 17,974,857 $ 17,974,857 $ Preferred shares 14 (a) 1 1 Contributed surplus 14 (c) 71,000 71,000 Accumulated other comprehensive loss (237,753) (209,575) Deficit (16,702,118) (16,535,338) TOTAL SHAREHOLDERS' EQUITY 1,105,987 1,300,945 TOTAL LIABILITIES & SHAREHOLDERS' EQUITY 2,487,486 $ 2,934,444 $ Commitments and contingencies 16 Approved by: Director Director Pioneering Technology Corp. Condensed Interim Consolidated Statements of Loss and Comprehensive Loss For three months ended December 31, 2025 and December 31, 2024 (Unaudited) Expressed in Canadian Dollars The accompanying are an integral part of these unaudited condensed interim consolidated financial statements. 4 | P a g e Note December 31, 2025 December 31, 2024 REVENUE 461,135 $ 713,485 $ COST OF GOODS SOLD 239,579 341,183 GROSS PROFIT 221,556 372,302 EXPENSES Sales and marketing 146,862 170,923 Administration 12 186,888 194,125 Warehousing, distribution and warranty costs 11,322 25,153 Foreign exchange loss (25,730) (71,286) Research and development costs 24,025 35,315 Depreciation of property and equipment 8 34,316 34,684 Amortization of patents and intangibles 9 746 1,066 TOTAL EXPENSES 378,429 389,979 OPERA --- TING LOSS (156,873) (17,677) Interest expenses 12 (16,959) (17,920) Interest income 13 7,053 9,382 LOSS BEFORE INCOME TAXES (166,779) (26,215) Income tax expense (recovery) 15 - - LOSS FOR THE PERIOD (166,779) $ (26,215) $ OTHER COMPREHENSIVE INCOME (LOSS) Currency translation differences (28,178) 145,037 COMPREHENSIVE LOSS FOR THE PERIOD (194,957) $ 118,822 $ Comprehensive loss per share - basic and diluted (0.00) $ 0.00 $ Weighted average number of common shares outstanding Outstanding - basic and diluted 56,041,746 56,041,746 Pioneering Technology Corp. Condensed Interim Consolidated Statements of Changes in Equity For the three months ended December 31, 2025 and December 31, 2024 (Unaudited) Expressed in Canadian Dollars The accompanying are an integral part of these unaudited condensed interim consolidated financial statements. 5 | P a g e Common Shares Preferred Shares Contributed comprehensive Total Note Number Amount Number Amount Surplus loss Deficit Equity Balance, October 1, 2025 56,041,746 17,974,857 $ 20,533,133 1 $ 71,000 $ (209,575) $ (16,535,338) $ 1,300,945 $ Stock options expired for the period 14 - - - Comprehensive (loss) income for the period. - - - - - (28,178) (166,779) (194,957) Balance, December 31, 2025 56,041,746 17,974,857 $ 20,533,133 1 $ 71,000 $ (237,753) $ (16,702,117) $ 1,105,987 $ Accumulated other Common Shares Preferred Shares Contributed comprehensive Total Note Number Amount Number Amount Surplus loss Deficit Equity Balance, October 1, 2024 56,041,746 17,974,857 $ 20,533,133 1 $ 541,029 $ (154,218) $ (16,370,939) $ 1,990,730 $ Stock-based compensation expense 14 - Comprehensive (loss) income for the period - - - - - 145,037 (26,217) 118,820 Balance, December 31, 2024 56,041,746 17,974,857 $ 20,533,133 1 $ 541,029 $ (9,181) $ (16,397,156) $ 2,109,550 $ Pioneering Technology Corp. Condensed Interim Consolidated Statements of Cash Flows For the three months ended December 31, 2025 and December 31, 2024 (Unaudited) Expressed in Canadian Dollars The accompanying are an integral part of these unaudited condensed interim consolidated financial statements. 6 | P a g e Note December 31, 2025 December 31, 2024 OPERATING ACTIVITIES Loss for the period (166,779) $ (26,215) $ Items not affecting cash Depreciation of property and equipment 8 34,316 34,684 Amortization of patents and intangibles 9 746 1,066 Interest expense on lease obligation 12 15,568 17,022 Unrealized foreign exchange loss (gain) (15,428) 17,728 Stock-based compensation expense 14 (c) - - (131,577) 44,285 Change in non-cash working capital balances Trade and other receivables 156,647 (145,889) Inventories 118,210 (335,566) Prepaid expenses and deposits (30,277) (221,066) Trade payables and accrued liabilities (191,261) 532,665 (78,258) (125,571) INVESTING ACTIVITIES Lease receivable 13 37,246 34,044 Purchase of property and equipment 8 (8,655) (4,513) 28,591 29,531 FINANCING ACTIVITIES Repayment of long-term lease obligation 12 (60,739) (61,897) (60,739) (61,897) NET CHANGE IN CASH IN THE PERIOD (110,406) (157,937) Foreign currency movement in cash balances (16,252) 17,140 CASH - BEGINNING OF PERIOD 138,990 655,534 CASH - END OF PERIOD 12,332 $ 514,738 $ SUPPLEMENTAL DISCLOSURE Interest paid 16,959 $ 17,920 $ Pioneering Technology Corp. Condensed Interim Notes to the Consolidated Financial Statements For the three months ended December 31, 2025 and 2024 (Unaudited) (Expressed in Canadian Dollars) 7 | P a g e 1. NATURE OF OPERATIONS Pioneering T --- echnology Corp. (“Pioneering” or the “Company”) is incorporated under the laws of Ontario, Canada and is an energy smart technology and consumer products company focused on developing advanced thermo-based technology solutions for opportunities that exist to improve the safety and/or energy efficiency of some of the most common household products and appliances. Pioneering is a public company listed on the Toronto Venture Stock Exchange (TSX-V: PTE). The Company’s principal place of business is located at 13-2785 Skymark Ave. in Mississauga, ON L4W 4Y3. The Company`s website is www.pioneeringtech.com. 2. BASIS OF PREPARATION AND CHANGE IN ACCOUNTING POLICY The consolidated financial statements have been prepared on the historical cost basis except for certain financial instruments, which are measured at fair value, as explained in the material accounting policies set out in Note 3. These consolidated financial statements include the accounts of the Company and its subsidiary. All intercompany balances, transactions, income and expenses, and gains or losses have been eliminated on consolidation. The consolidated financial statements have been prepared on a going concern basis which assumes the Company will be able to meet its minimum obligations as they come due for a period of at least 12 months. As at December 31, 2025, the Company had not achieved profitable operations, had negative cash flows and had an accumulated deficit of $16,702,118 since inception. The Company has concluded that no events and conditions rise to the level of material uncertainties and that its current cash, inventory and available capacity in its credit facility, combined with its forecasted cash flows will provide sufficient cash to meet its minimum obligations as they come due for a period of at least 12 months from December 31, 2025. In making this significant judgement the Company has prepared a cash flow forecast with the most significant assumptions in making this forecast being its forecasted revenues, forecasted gross margin and forecasted operating costs. As at December 31, 2025, the Company had current assets of $1,739,523, including cash of $12,332 and inventories of $1,210,867. Net working capital (current assets less current liabilities) was $736,132. In addition, the Company has an available credit facility of $250,000, with $70,00 drawn on the facility as at period-end (note 10). The credit facility does not have any quantitative or qualitative covenants that may impact the Company’s ability to access the funds. Based on these factors, management continues to have a reasonable expectation that the Company has adequate resources to continue in operation for the at least the next 12 months and that the going concern basis of accounting remains appropriate. No assurance can be given that the Company will be able to generate profits from operations to be able to realize its assets and discharge its liabilities in the normal course of business without having to draw further on the existing credit facility or other forms of financing. 2.1 Statement of compliance These consolidated financial statements, including comparative balances for the period ended December 31, 2025, have been prepared in accordance with and using policies in compliance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). The consolidated financial statements were approved and authorized by the Board of Direct --- ors of the Company on February 26, 2026. 2.2 Functional currency The Company’s functional currency is U.S. dollars based on the primary economic environment in which the Company operates. The Company’s presentation currency is Canadian dollars which is different from its functional Pioneering Technology Corp. Condensed Interim Notes to the Consolidated Financial Statements For the three months ended December 31, 2025 and 2024 (Unaudited) (Expressed in Canadian Dollars) 8 | P a g e 2. BASIS OF PREPARATION AND CHANGE IN ACCOUNTING POLICY (CONT’D) currency due to the listing on the TSX-V and presentation of consolidated financial statements in Canadian dollars is considered to be beneficial for current and potential shareholders in Canada. In February 2021, the IASB amended IAS 1, Presentation of Financial Statements, and IFRS Practice Statement 2, Making Materiality Judgements, to require entities to disclose material accounting policies rather than significant accounting policies. Further amendments to IAS 1 were made to explain how an entity can identify a material accounting policy. The amendments did not have a material impact on the Company's consolidated financial statements. 3. MATERIAL ACCOUNTING POLICIES The significant accounting policies used in the preparation of these condensed interim financial statements are consistent with those for the year ended September 30, 2025 Use of estimates and judgments The preparation of consolidated financial statements in accordance with IFRS requires the use of certain critical accounting estimates and assumptions. It also requires management to exercise judgment in applying the Company’s accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements, are outlined below. Actual results may differ from those estimates. The following are management’s key estimates and judgements: • Subsidiary - The subsidiary is an entity controlled by the Company. The Company ‘controls’ an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of the subsidiary are included in the consolidated financial statements from the date on which control commences until the date on which control ceases. • Inventory valuation – inventories are valued at the lower of cost, using FIFO, and net realizable value, which requires the Company to utilize estimates related to future sell-through of units and costs necessary to sell the inventory. The Company records a write-down to reflect management’s best estimate of the net realizable value of inventory based on the above factors; • Trade receivable valuation – expected credit losses associated with accounts receivable require management to assess certain forward looking and macroeconomic factors to determine whether there is a significant increase in credit risk as well as the expected provision on the balance outstanding as at period-end (refer to note 6); • Functional currency – judgment is required in determining the Company’s functional currency based on the economic environment in which it primarily generates and expends cash; • Stock-based compensation – the amounts recorded for stock-based compensation are based on estimates. The Black Scholes model is used to estimate the fair value of stock options at --- the date of grant based on estimates of assumptions for share price, expected volatility, expected number of options to vest, dividend yield, risk-free interest rate, and expected life of the options. Changes in these assumptions may result in a material change to the amounts recorded for the issuance of stock options (refer to note 14); • Determination of variable consideration – judgment is exercised in estimating variable consideration which is determined having regard to past experience with respect to the product returned to the Company Pioneering Technology Corp. Condensed Interim Notes to the Consolidated Financial Statements For the three months ended December 31, 2025 and 2024 (Unaudited) (Expressed in Canadian Dollars) 9 | P a g e 3. MATERIAL ACCOUNTING POLICIES (CONT’D) where the customer maintains a right of return pursuant to the customer contract or where the product has a variable component. Revenue will only be recognized to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognized under the contract will not occur when the uncertainty associated with the variable consideration is subsequently resolved; • Recovery of deferred income tax assets – assessing whether the realization of tax losses against future taxable income is probable (refer to note 15); • Discount rate of lease liability – the lease liability is measured at the present value of expected lease payments and discounted using the interest rate implicit in the lease, unless this is not readily determinable, in which case the Company’s incremental borrowing rate on commencement of the lease is used. The Company determines its incremental borrowing rate as the rate of interest it would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of similar value to the right-of-use asset in a similar economic environment (refer to note 12); • Discount rate of lease receivable – lease receivable is measured at the present value of lease payments and discounted using the rate implicit in the sub-lease, unless this is not readily available, in which case the Company uses the discount rate that it uses for the head lease, adjusted for any initial direct costs associated with the sub-lease (refer to note 13); • Term of lease liability – judgement is required in assessing whether the company will exercise options to extend a lease agreement. The company determines whether it is reasonably certain to exercise an option to extend the lease at the commencement date. The company reassesses whether it is reasonably certain to exercise an option to extend the lease when a significant event or a significant change in circumstance occurs that is within the control of the company, and affects whether it is reasonably certain to exercise those options. • Warranties – significant judgements and assumptions may be involved in the determination of future obligations associated with product sales recognized in the current period. Additionally, management has assessed that all warranties associated with products sold are “assurance-type” warranties, as defined within IFRS 15, and therefore, recognized and measured in accordance with IAS 37, Provisions, contingent liabilities and contingent assets; • Useful lives of assets – significant estimates are involved in the determination of the useful lives of property and equipment and patents and intangible assets to determine their ex --- pected depreciation and amortization rates. Revenue recognition Revenue is derived primarily from the sales of product, the Company’s only performance obligation, which is comprised of fire safety cooking equipment. Revenue is measured at the transaction price agreed to under the contract and excludes any amounts collected on behalf of third parties. The Company allocates the transaction price to the performance obligation in the contract which is the product sold. The transaction price is adjusted for variable consideration such as allowance for returns, early payment discounts and rebates based on volume shipped to the customer. Such estimates are determined using either the ‘expected value’ or ‘most likely amount’ method. The measurement of variable consideration is subject to a constraining principle whereby revenue will only be recognized to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur. The measurement constraint continues until the uncertainty associated with the variable consideration is subsequently resolved. For performance obligations satisfied at a point in time, revenue is recognized when the Company has a present right to payment, the buyer has legal title to the asset, physical possession of the asset has transferred to the buyer, the Pioneering Technology Corp. Condensed Interim Notes to the Consolidated Financial Statements For the three months ended December 31, 2025 and 2024 (Unaudited) (Expressed in Canadian Dollars) 10 | P a g e 3. MATERIAL ACCOUNTING POLICIES (CONT’D) buyer has the significant risks and rewards of ownership and the buyer has accepted the asset. Generally, the buyer obtains control at the time goods are shipped, the product is delivered or services are rendered. Lease liabilities Pioneering recognizes a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured at cost. Subsequent to initial application, the right-of-use asset is measured at cost less any accumulated depreciation and impairment losses and adjusted for certain remeasurements of the lease liability. In comparison, the lease liability is increased by the interest cost on the lease liability and decreased by lease payments made. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, a change in the estimate of the amount expected to be payable under a residual value guarantee, or as appropriate, changes in the assessment of whether a purchase or extension option is reasonably certain to be exercised or a termination option is reasonably certain to be exercised or a termination option is reasonably certain not to be exercised. Pioneering has applied judgment to determine the lease term for lease contracts in which it is a lessee that includes renewal options. The assessment of whether Pioneering is reasonably certain to exercise such options impacts the lease term, which significantly affects the amount of lease liabilities and right-of-use assets recognized. The Company has elected not to recognize right-of-use assets and lease liabilities for short-term leases that have a lease term of 12 months or less and do not contain a purchase option, and for leases of low-value assets. These types of leases are not recognized on the Company’s statement of financial position and payments to lessors are recorded in the statement of loss and comprehensive lo --- ss on a straight-line basis over the term of the lease. Lease receivable When Pioneering acts as a sub-lessor, it determines at the lease inception whether each lease is a financing or an operating lease. To classify each lease, the Company makes an overall assessment of whether the lease transfers substantially all of the risks and rewards incidental to ownership of the underlying asset. If this is the case, then the lease is a finance lease; if not, then it is an operating lease. As part of this assessment, the Company considers indicators such as whether the sublease is for the major of the head lease. At inception of the sub-lease, the company assesses whether the sublease constitutes a significant change in circumstance triggering a reassessment of the term for the head lease. The Company accounts for its interest in the head lease and the sub-lease separately. It assesses the lease classification of the sub-lease with reference to the right-of-use asset arising from the head lease, not with reference to the underlying asset. At the commencement date of the sub-lease, if the Company is unable to readily determine the rate implicit in the sub-lease, then it uses the discount rate that it uses for the head lease, adjusted for any initial direct costs associated with the sub-lease, to account for the sub-lease. Subsequently, the Company applies the derecognition and impairment requirements under IFRS 9 to the net investment in the lease. The Company recognises lease payments received under operating leases as income on a straight-line basis over the lease term. Pioneering Technology Corp. Condensed Interim Notes to the Consolidated Financial Statements For the three months ended December 31, 2025 and 2024 (Unaudited) (Expressed in Canadian Dollars) 11 | P a g e 3. MATERIAL ACCOUNTING POLICIES (CONT’D) Stock-based compensation The fair value of all stock options granted to employees (including directors and senior executives) is determined using the Black-Scholes option pricing model and incorporates a number of assumptions. The resulting value is charged to operations over the vesting period of the underlying options. A corresponding increase in contributed surplus is recorded when employee stock options are expensed. The amount recognized as an expense is adjusted to reflect the number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognized as an expense is based on the number of awards that meet the related service and non-market performance conditions at the vesting date. Where equity instruments are granted to non-employees, they are recorded at the fair value of the goods or services received in the statement of loss and comprehensive loss, unless the fair value of the goods or services received cannot be estimated reliably. Amounts related to the issuance of shares are recorded as a reduction of share capital. When the value of goods or services received in exchange for the share-based payment cannot be reliably estimated, the goods or services received, and the corresponding increase in equity are measured, indirectly, by reference to the fair value of the equity instruments granted, measured at the date the entity obtains the goods or the counterparty renders service. For stock-based compensation with non-vesting conditions, the grant date fair value of the stock-based payment is measured to reflect such conditions and there is no adjustment f --- or differences between expected and actual outcomes. When a stock option is exercised, share capital is recorded at the sum of the proceeds received plus the amount previously recorded in contributed surplus relating to the options exercised. Inventories Inventories are valued at the lower of cost and net realizable value. Cost is determined on a first-in, first-out basis. The cost is comprised of the purchase price plus the direct costs incurred in bringing the inventories to their present location and condition. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs necessary to make the sale. A provision for obsolescence is calculated based on historical experience and management’s sales expectations. Property and equipment Property and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is calculated on a declining balance basis based on the following rates: Computer hardware and software 45% Equipment, small tools and molds 30% Fixtures and fittings 30% Automobiles 30% Leasehold improvements Straight-line over the initial term of the lease Residual value and estimated useful lives are reviewed at least annually. Pioneering Technology Corp. Condensed Interim Notes to the Consolidated Financial Statements For the three months ended December 31, 2025 and 2024 (Unaudited) (Expressed in Canadian Dollars) 12 | P a g e 3. MATERIAL ACCOUNTING POLICIES (CONT’D) Research and development costs Expenditure on research activities is recognized as an expense in the period in which it is incurred. Internally developed intangibles assets are capitalized as intangible assets when the Company can demonstrate that the technical feasibility of the project has been established; the Company intends to complete the asset for use or sale and has the ability to do so; the asset can generate probable future economic benefits; the technical and financial resources are available to complete the development; and the Company can reliably measure the expenditure attributable to the intangible asset during its development. The amount initially recognized for internally-generated intangibles is the sum of the expenditure incurred from the date when the intangibles first meets the recognition criteria listed above. Where no internally-generated intangibles can be recognized, development costs are recognized in profit or loss in the period in which it is incurred. Subsequent to initial recognition, internally-generated intangibles are reported at cost less accumulated depreciation and accumulated impairment losses, on the same basis as intangibles that are acquired separately. Patents and intangibles Costs directly related to the acquisition of patents and intangibles are capitalized and then amortized over their estimated useful life on a declining balance basis based on the following rates: Safe-T-Sensor 30% Trademarks 30% Patents 30% Website 30% Impairment Property and equipment and intangible assets with a finite useful life Property and equipment and intangible assets with a finite life are assessed for indications of impairment at the end of each reporting period. If such indications exist, then the recoverable amount of the cash generating unit (“CGU”) is compared to the carrying value of the CGU. An impairment loss is recognized when the carrying amount of the CGU exceeds its recoverable amount. The recoverable amount of the CGU is the greater of i --- ts value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and risks specific to the asset. Impairment losses are recognized in operations for the period in which they are identified. Intangible assets not yet available for use are tested for impairment annually by comparing its carrying amount with its recoverable amount. This impairment test may be performed at any time during an annual period, provided it is performed at the same time every period. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss has been recognized. Pioneering Technology Corp. Condensed Interim Notes to the Consolidated Financial Statements For the three months ended December 31, 2025 and 2024 (Unaudited) (Expressed in Canadian Dollars) 13 | P a g e 3. MATERIAL ACCOUNTING POLICIES (CONT’D) Current income tax Current income tax assets and liabilities for the current and prior years are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted on the date of the statement of financial position. Deferred income tax Deferred income tax is provided using the liability method on temporary differences at the date of the statement of financial position between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred income tax assets are recognized for all deductible temporary differences, and the carry forward of unused tax losses, to the extent that it is probable that taxable income will be available against which the deductible temporary differences and the carry forward of unused tax losses can be utilized. The carrying amount of deferred income tax assets is reviewed at each date of the statement of financial position and reduced to the extent that it is no longer probable that sufficient taxable income will be available to allow all or part of the deferred income tax asset to be utilized. Unrecognized deferred income tax assets are reassessed at each date of the statement of financial position and are recognized to the extent that it has become probable that future taxable income will allow the deferred tax asset to be recovered. Deferred income tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized, or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the date of the statement of financial position. Deferred income tax relating to items recognized directly in equity is recognized in equity and not in the statement of loss and comprehensive loss. Deferred income tax assets and deferred income tax liabilities are offset if, and only if, a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred tax assets and liabilities relate to income taxes levied by the same taxation authority or to realize the assets and settle the liabilities simulta --- neously, in each future year in which significant amounts of deferred tax assets or liabilities are expected to be settled or recovered. Earnings (loss) per share The Company presents basic and diluted earnings (loss) per share (“EPS”) for its common shares. Basic EPS is calculated by dividing earnings by the weighted average number of common shares outstanding during the period. The diluted income (loss) / earnings per share reflect the potential dilution of common share equivalents, such as outstanding stock options and share purchase warrants, in the weighted average number of common shares outstanding during the period, if dilutive. The “treasury stock method” is used for the assumed proceeds upon the exercise of the options and warrants that are used to purchase common shares at the average market price during the period. Financial instruments Financial assets and liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and liabilities (other than financial assets and liabilities at FVTPL) are added Pioneering Technology Corp. Condensed Interim Notes to the Consolidated Financial Statements For the three months ended December 31, 2025 and 2024 (Unaudited) (Expressed in Canadian Dollars) 14 | P a g e 3. MATERIAL ACCOUNTING POLICIES (CONT’D) to or deducted from the fair value of the financial assets or liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or liabilities at FVTPL are recognized immediately in the statements of loss. Financial assets are classified as amortized cost, fair value through other comprehensive income (“FVOCI”) or fair value through profit or loss (“FVTPL”). Classification is determined based on both the business model within which such assets are held and the contractual cash flow characteristics of the financial asset unless an accounting mismatch is being avoided. Impairment of financial assets As the Company’s financial assets are substantially made up of trade receivables, the Company has opted to use the simplified approach for measuring the loss allowance at an amount equal to lifetime expected credit losses (“ECL”). The simplified approach does not require the tracking of changes in credit risk, but instead requires the recognition of lifetime ECLs at all times. Lifetime ECL represents the ECL that would result from all possible default events over the expected life of a financial instrument. The ECL on these financial assets are estimated using a provision matrix based on the Company’s historical credit loss experience, adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current as well as the forecast direction of conditions at the reporting date. Specifically but not all inclusive, the forecast factors include forward looking information by way of trended loss patterns in industries and customer geographies, forecasting adverse changes in business, financial or economic conditions that are expected to cause a significant decrease in the customer’s ability to meet its debt obligation, and predicting significant deterioration in the operating results of the customer. Fair value hierarchy All financial assets and liabilities are initially recognized at fair value. In subsequent periods, financial assets and liabilities which are held for trading are recorded at fair value wit --- h gains and losses recognized in income; financial assets which are available for sale are recorded at fair value with gains and losses recognized (net of applicable taxes) in other comprehensive income (loss). Financial instruments require disclosure about inputs to fair value measurements within the fair value measurement hierarchy as follows: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and Level 3: Inputs for the assets or liabilities that are not based on observable market data. Provisions Provisions are recognized when the Company has a present obligation (legal or constructive) that has arisen as a result of a past event and it is probable that a future outflow of resources will be required to settle the obligation, provided that a reliable estimate can be made of the amount of the obligation. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre‐tax rate that reflects current market assessments of the time value of money and the risk specific to the obligation. The increase in the provision due to the passage of time is recognized as interest expense. Foreign currency transactions Foreign currency transactions are translated into the functional currency using exchange rates in effect at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the Pioneering Technology Corp. Condensed Interim Notes to the Consolidated Financial Statements For the three months ended December 31, 2025 and 2024 (Unaudited) (Expressed in Canadian Dollars) 15 | P a g e 3. MATERIAL ACCOUNTING POLICIES (CONT’D) exchange rate in effect at the measurement date. Non-monetary assets and liabilities denominated in foreign currencies are translated using the historical exchange rate or the exchange rate in effect at the measurement date for items recognized at fair value through profit or loss (“FVTPL”). Gains and losses arising from foreign exchange are included in the statement of loss and comprehensive loss. Assets and liabilities are translated into the Company's presentation currency using the exchange rates at the reporting date. The revenues and expenses are translated using the average exchange rates, which approximate the rates at the dates of the transactions, for the period. All resulting foreign exchange differences are recognised in other comprehensive income through the accumulated other comprehensive loss in equity. Accounting standards issued but not yet applied IFRS 18, Presentation and Disclosures in Financial Statements: In April 2024, the IASB issued IFRS 18, Presentation and Disclosures in Financial Statements, which will replace IAS 1. The new standard introduces the following key new requirements. Entities are required to classify all income and expenses into five categories in the statement of profit or loss, namely the operating, investing, financing, discontinued operations and income tax categories. Entities are also required to present a new-defined operating profit sub-total. The Entity’s net profit will not change. Management defined performance measurers (“MPMs”) are disclosed in a single note in the financial statements. Enhanced guidance is provided on how to group information in the financial statements. In add --- ition, all entities are required to use the operating profit subtotal as the starting point for the statement of cash flows when presenting operating cash flows under the indirect method. IFRS 18 is effective for annual reporting periods beginning on or after January 1, 2027, and must be applied retrospectively. The Company is currently evaluating the impact that this standard will have on its consolidated financial statements. 4. CAPITAL MANAGEMENT The Company defines capital as total shareholders’ equity and long-term debt excluding other long-term liabilities. The Company manages its capital structure and makes adjustments to it, based on the funds available to the Company, in order to support the growth and development of its operations and to bring new products to market. The Board of Directors does not establish quantitative return on capital criteria for management, but rather relies on the expertise of the Company’s management to sustain future development of the business. The Company will continue to assess new opportunities and seek to acquire an interest in growth situations if it feels there is sufficient economic potential and if it has adequate financial resources to do so. Management reviews its capital management approach on an ongoing basis and believes that this approach, given the relative size of the Company, is reasonable. There were no changes in the Company's approach to capital management during the period ended December 31, 2025. Pioneering Technology Corp. Condensed Interim Notes to the Consolidated Financial Statements For the three months ended December 31, 2025 and 2024 (Unaudited) (Expressed in Canadian Dollars) 16 | P a g e 5. FINANCIAL INSTRUMENTS Financial instruments, by classification, comprise the following: A summary of the Company's risk exposures as it relates to financial instruments is reflected below: Credit risk Credit risk is the risk that the counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss to the Company. The Company is exposed to credit risk from its operating activities (primarily from trade and other receivables) and from its financing activities, including deposits with banks and financial institutions, foreign exchange transactions and other financial instruments. Credit risk relates to cash and trade and other receivables and arises from the possibility that any counterparty to an instrument fails to perform. The Company has a credit policy under which each new customer is analyzed individually for creditworthiness before the Company’s standard payment terms and conditions are offered. The Company’s exposure to credit risk with its customers is influenced mainly by the individual characteristics of each customer. All of the Company’s customers are located in either Canada or the United States. When available, the Company reviews credit bureau ratings, bank accounts and financial information for each new customer. As at December 31, 2025 and 2024, the Company's maximum exposure to credit risk was the carrying value of cash and trade and other receivables. Trade and other receivables The Company's exposure to credit risk is influenced mainly by the individual characteristics of each customer. The Company establishes a representative estimate of expected credit losses using the simplified approach. The Company’s trade receivables are concentrated among customers in the distribution and retail industry. As at December --- 31, 2025, one (2024 – one) customer accounted for greater than 10% of the Company’s trade receivable balance. In total, this customer accounted for 33.9% of the Company’s trade receivable balance as at December 31, 2025 (2024 – 47.3%). Financial instruments and cash deposits Credit risk from balances with banks and financial institutions is managed by the Company's treasury function in accordance with the Company's policy. Investments of surplus funds are made only with approved counterparties and within credit limits assigned to each counter party. Liquidity risk Liquidity risk is the risk that the Company cannot meet a demand for cash or fund its obligations as they become due. The Company’s approach to managing liquidity risk is to ensure that it will have sufficient liquidity to meet liabilities as they become due. The Company is growing and in order to meet its short and longer-term working December 31, 2025 September 30, 2025 Financial assets Amortized cost Cash 12,332 $ 138,990 $ Trade and other receivables 287,469 444,116 Financial liabilities Amortized cost Trade payables and accrued liabilities 744,935 936,196 Pioneering Technology Corp. Condensed Interim Notes to the Consolidated Financial Statements For the three months ended December 31, 2025 and 2024 (Unaudited) (Expressed in Canadian Dollars) 17 | P a g e 5. FINANCIAL INSTRUMENTS (CONT’D) capital requirements, the Company will attempt, if necessary, to secure further financing to ensure that those obligations are properly discharged. Operationally, the Company manages its liquidity by continuously monitoring forecasted and actual gross profit, expenses, and cash flows from operations. Market risk Market risk is the risk of loss that may arise from changes in market factors such as interest rates, foreign exchange rates, commodity prices and/or stock market movements (price risk). Market risks material to Pioneering include the following: Foreign currency risk The Company is exposed to foreign currency risk on its Canadian dollar (CAD) denominated transactions and balances. At present the Company has no plans in place to hedge its foreign exchange exposures. As the Company has expenditures and sales in both USD and CAD, the Company realizes the benefit of a partial natural hedge against this risk. The Company’s CAD monetary balances consist of the following: A sensitivity analysis is presented below on its exposure to foreign currency risk on the CAD. Interest rate risk The Company is exposed to interest rate risk arising from fluctuations in the bank’s prime rate related to its bank indebtedness. With all other factors held constant, a 1% fluctuation in the bank’s prime rate would not have a significant impact on the Company’s earnings. Sensitivity analysis – foreign exchange risk Based on management’s knowledge and experience of the financial markets, the Company believes the following movements are reasonably possible over a one-year period. The Company's operating activities are substantially denominated in both Canadian and US dollars. The Company's funds are kept in CAD and USD with a major Canadian financial institution. The table below summarizes the effects on foreign exchange gains and losses as a result of a 10% change in the value of the foreign currencies where the Company has significant exposure. The analysis assumes that other variables remain constant. December 31, 2025 September 30, 2025 Cash (67,276) $ (85,858) $ Accounts receivable 74,279 45,534 Trade --- payables and accrued liabilities 483,577 509,050 Income effect of a 10% increase in foreign Income effect of a 10% loss in foreign exchange rates on translation of CAD monetary exchange rates on translation of CAD monetary balances balances CAD 47,657 (47,657) Pioneering Technology Corp. Condensed Interim Notes to the Consolidated Financial Statements For the three months ended December 31, 2025 and 2024 (Unaudited) (Expressed in Canadian Dollars) 18 | P a g e 6. TRADE AND OTHER RECEIVABLES The Company’s trade and other receivables are from trade receivables and customer sales, government grants, and Harmonized Services Tax (“HST”) receivable due from government taxing authorities. The Company held no collateral for any receivable amounts outstanding as at December 31, 2025. The following comprises trade and other receivables: Trade receivables greater than 30 days are considered past due. An aging analysis of the trade receivables is as follows: 7. INVENTORIES Inventories are comprised of the following: Inventory expensed to cost of goods sold during the period is $239,579 (2024 - $341,183) December 31, 2025 September 30, 2025 HST recoverable 4,682 $ - $ Trade accounts receivable, net of allowance 282,787 444,116 287,469 $ 444,116 $ December 31, 2025 September 30, 2025 Less than 1 month 221,176 295,581 $ 31 - 60 days 53,347 42,266 61 - 90 days 16,661 43,700 Over 90 days (3,644) 77,505 Total trade accounts receivable 287,540 459,052 Less: Allowance for doubtful accounts 4,753 14,936 Net trade accounts receivable 282,787 $ 444,116 $ December 31, 2025 September 30, 2025 Finished goods 1,210,867 $ 1,329,077 $ Pioneering Technology Corp. Condensed Interim Notes to the Consolidated Financial Statements For the three months ended December 31, 2025 and 2024 (Unaudited) (Expressed in Canadian Dollars) 19 | P a g e 8. PROPERTY AND EQUIPMENT Property and equipment are comprised of the following: Computer Equipment hardware and small tools Fixtures Leasehold Right of use Cost software and moulds and fittings Automobiles improvements assets Total October 1, 2024 90,397 446,081 79,516 36,073 373,407 455,300 1,480,774 Additions 8,207 - - - - - 8,207 Disposals - - - - - - - Net currency translation (2,786) (13,945) (2,486) (1,128) (11,673) (14,233) (46,251) October 1, 2025 95,818 432,136 77,030 34,945 361,734 441,067 1,442,730 Additions 1,675 - - 6,980 - - 8,655 Disposals - - - - - - - Net currency translation (1,039) (3,462) (269) 92 (8,156) 6,509 (6,325) December 31, 2025 96,454 $ 428,674 $ 76,761 $ 42,017 $ 353,578 $ 447,576 $ 1,445,060 $ Computer Equipment Accumulated hardware and small tools Fixtures Leasehold Right of use Depreciation software and moulds and fittings Automobiles improvements assets Total October 1, 2024 87,482 415,175 71,675 28,521 253,201 160,430 1,016,484 Depreciation 3,991 9,607 2,437 2,347 39,221 94,361 151,964 Disposals - - - - - - - Net currency translation (3,205) (13,196) (2,295) (944) (7,735) (4,463) (31,838) October 1, 2025 88,268 411,586 71,817 29,924 284,687 250,328 1,136,610 Depreciation 867 1,555 391 474 9,012 22,018 34,316 Disposals - - - - - - - Net currency translation 1,101 7,930 1,117 (520) (296) (7,929) 1,403 December 31, 2025 90,236 $ 421,071 $ 73,325 $ 29,878 $ 293,403 $ 264,417 $ 1,172,330 $ Computer Equipment hardware and small tools Fixtures Leasehold Right of use Net book value software and moulds and fittings Automobiles improvements Assets Total October 1, 2024 2,915 $ 30,906 $ 7,841 $ 7,552 $ 120,206 --- $ 294,870 $ 464,290 $ October 1, 2025 7,550 $ 20,550 $ 5,213 $ 5,021 $ 77,047 $ 190,739 $ 306,120 $ December 31, 2025 6,218 $ 7,603 $ 3,436 $ 12,139 $ 60,175 $ 183,159 $ 272,730 $ Pioneering Technology Corp. Condensed Interim Notes to the Consolidated Financial Statements For the three months ended December 31, 2025 and 2024 (Unaudited) (Expressed in Canadian Dollars) 20 | P a g e 9. PATENTS AND INTANGIBLES Patents and intangible assets are comprised of the following: 10. CASH AND CASH EQUIVALENTS The company has a $250,000 (2025 - $250,000) revolving demand facility with a Canadian chartered bank bearing interest at the lender‘s prime rate plus 2% per annum. The Company has provided a general security to the lender over its personal property. $70,000 has been drawn on the facility at December 31, 2025 (2024 - $Nil). Cost Safe-T-Sensor Development Trademarks Patents Website Total October 1, 2024 70,084 198,014 45,803 48,020 61,069 422,990 Additions 13,856 - - - - 13,856 Disposals (13,856) - - - - (13,856) Net currency translation 2,191 6,037 1,431 1,502 1,908 13,069 October 1, 2025 72,275 204,051 47,234 49,522 62,977 436,059 Additions - - - - - - Disposals - - - - - - Net currency translation (1,116) (3,000) (730) (765) (973) (6,584) December 31, 2025 71,159 $ 201,051 $ 46,504 $ 48,757 $ 62,004 $ 429,475 $ Accumulated amortization Safe-T-Sensor Development Trademarks Patents Website Total October 1, 2024 70,084 - 40,530 47,166 52,541 210,321 Amortization - - 1,522 258 2,483 4,263 Disposals - - - - - - Net currency translation 2,191 - (236) 1,167 3,408 6,530 October 1, 2025 72,275 - 41,816 48,591 58,432 221,114 Amortization - - 266 45 434 745 Disposals - - - - - - Net currency translation (1,116) - (256) (712) (161) (2,245) December 31, 2025 71,159 $ - $ 41,826 $ 47,924 $ 58,705 $ 219,614 $ Net book value Safe-T-Sensor Development Trademarks Patents Website Total October 1, 2024 - $ 198,014 $ 5,273 $ 854 $ 8,528 $ 212,669 $ October 1, 2025 - $ 204,051 $ 5,418 $ 931 $ 4,545 $ 214,945 $ December 31, 2025 - $ 201,051 $ 4,679 $ 833 $ 3,299 $ 209,861 $ December 31, 2025 September 30, 2025 Cash 82,332 $ 228,990 $ Bank indebtedness (70,000) (90,000) 12,332 $ 138,990 $ Pioneering Technology Corp. Condensed Interim Notes to the Consolidated Financial Statements For the three months ended December 31, 2025 and 2024 (Unaudited) (Expressed in Canadian Dollars) 21 | P a g e 11. TRADE PAYABLES AND ACCRUED LIABILITIES Trade payables and accrued liabilities are principally comprised of amounts outstanding for trade purchases relating to products sold and for amounts relating to operating activities. The following comprises trade payables and accrued liabilities: The standard maturity terms of the Company’s trade payables are 30 to 60 days. 12. LEASE OBLIGATIONS Included in interest expense is $15,568 (2025 - $14,374) of interest expense on lease obligations. Total cash outflows relating to leases consist of payments in the amount of $71,656 (2025 - $69,386). Included in administration expense is $2,462 (2025 - $19,781) relating to variable lease payments not included in the measurement of lease liabilities. The lease is secured by the underlying asset. Future minimum lease payments for the next four years are as follows: December 31, 2025 September 30, 2025 Trade payables 494,315 $ 595,388 $ HST payable - 249 Other accrued liabilities 250,620 340,559 744,935 936,196 December 31, 2025 September 30, 2025 429,661 $ 467,662 $ 206,903 $ 229,641 $ 636,564 69 --- 7,303 Less: current portion (258,456) (252,247) 378,108 $ 445,056 $ Property and office space lease bearing interest at an estimated rate of 6.5% (2023- 6.5%). The lease extends through fiscal 2028 Property and office space lease bearing interest at an estimated rate of 6.5%. The lease extends through fiscal 2028 2026 217,273 2027 296,996 2028 170,429 684,698 $ Less: imputed interest 48,134 636,564 $ Pioneering Technology Corp. Condensed Interim Notes to the Consolidated Financial Statements For the three months ended December 31, 2025 and 2024 (Unaudited) (Expressed in Canadian Dollars) 22 | P a g e 13. LEASE RECEIVABLE Included in interest income is $7,053 (2025 - $9,382) related to the lease receivable. Total cash inflows relating to the lease receivable consist of receipts in the amount of $44,299 (2025 - $43,425). Cash outflows related to the lease were $nil (2024 - $nil) related to brokerage fees. The lease is secured by the underlying asset. Future minimum lease payments for the next four years are as follows: December 31, 2025 September 30, 2025 423,939 $ 461,185 $ Less: current portion (158,567) (155,126) 265,372 $ 306,059 $ Property and office lease bearing interest at an estimated rate of 4.25% (2024- 4.25%). The lease extends through fiscal 2028 2026 135,290 2027 183,180 2028 139,816 458,287 $ Less: imputed interest 34,347 423,939 $ Pioneering Technology Corp. Condensed Interim Notes to the Consolidated Financial Statements For the three months ended December 31, 2025 and 2024 (Unaudited) (Expressed in Canadian Dollars) 23 | P a g e 14. SHARE CAPITAL a) Authorized Unlimited number of voting common shares and non-voting series 1 preferred shares that are issuable in series. The series 1 preferred shares can be redeemed, at the sole discretion of the Company, upon payment to the holder of $0.06 per preferred share (a maximum aggregate redemption price of $1,231,988) and are not entitled to dividends. The statement of changes in equity details the number and value of the common shares and series 1 preferred shares outstanding as at the reporting date. b) Stock option plan The Company has a stock option plan in place under which the Board of Directors may grant options to acquire common shares of the Company to qualified directors, officers, employees and other service providers. The stock options vest according to the provisions of the underlying directors’ resolution approving the issuance and have a maximum life of five years. The plan allows for the issuance of up to 11,208,349 (2024 - 11,208,349) common shares of the Company. At December 31, 2025, the Company had 4,108,349 (2024 – 1,433,349) stock options available for issuance. c) Contributed surplus Contributed surplus is comprised of the following: Stock option activity for the three months ended December 31, 2025 and September 30, 2025 were as follows: December 31, 2025 September 30, 2025 Stock options 71,000 $ 71,000 $ Weighted Weighted Average Average Exercise Number of Exercise Number of Price Options Price Options Balance, beginning of year 0.07 $ 7,100,000 0.07 $ 9,775,000 Transactions during the year Expired - $ - 0.14 $ (2,525,000) Forfeited - $ - 0.05 $ (150,000) Granted - $ - - $ - Outstanding and exercisable, end of year 0.07 $ 7,100,000 0.07 $ 7,100,000 Pioneering Technology Corp. Condensed Interim Notes to the Consolidated Financial Statements For the three months ended December 31, 2025 and 2024 (Unaudited) (Expressed in Canadian Dollars) 24 | P a g e 14. S --- HARE CAPITAL (CONT’D) The following table provides additional information about the outstanding stock options as at December 31, 2025 and September 30, 2025: Stock-based compensation expense of $nil (2025 - $nil) is included in sales and marketing expenses on the statement of income (loss) and comprehensive income (loss). 15. INCOME TAXES As at December 31, 2025, the Company has accumulated non-capital losses for income tax purposes which can be carried forward to be applied against future taxable income for income tax purposes. At December 31, 2025, the Company has not recognized $14,438,258 of the tax losses. These non-capital losses expire as follows: December 31, 2025 September 30, 2025 Weighted Weighted Number of Average Number of Average Exercise Options Remaining Number of Options Remaining Number of Price Outstanding Life (Years) Exercisable Outstanding Life (Years) Exercisable 0.05 $ 7,100,000 2.42 7,100,000 7,100,000 2.67 7,100,000 7,100,000 2.42 7,100,000 7,100,000 2.67 7,100,000 2027 256,397 $ 2028 1,424,300 2029 579,685 2031 106,628 2032 813,981 2033 1,269,404 2034 854,465 2038 2,462,781 2039 2,015,608 2040 770,807 2041 1,475,173 2042 593,504 2043 568,625 2044 797,434 2045 449,466 14,438,258 $ Pioneering Technology Corp. Condensed Interim Notes to the Consolidated Financial Statements For the three months ended December 31, 2025 and 2024 (Unaudited) (Expressed in Canadian Dollars) 25 | P a g e 16. COMMITMENTS AND CONTINGENCIES Pioneering leases its premises under a non-cancellable operating lease that expires in July 2028. Under the terms of the lease, the Company is responsible for its proportionate share of common area maintenance costs, including realty taxes. In the ordinary course of business activities, the Company may be contingently liable for litigation and claims with customers, suppliers and former employees. Management believes that adequate provisions have been recorded in the accounts where required. During 2016, a former supplier has commenced an action against the Company relating to a contractual dispute. The Company intends to vigorously defend itself against such claim. As at December 31, 2025, no provision has been recorded in connection with this claim. 17. RELATED PARTY TRANSACTIONS AND KEY MANAGEMENT COMPENSATION Related party transactions and balances are as follows: The amounts due to related parties are included in the trade payables and accrued liabilities. The Company defines Key Management as its CEO, President and its Board of Directors. 18. SEGMENTED INFORMATION The Company operates in one business segment being the development, manufacture and sale of products intended to save energy and offer consumer convenience and safety. In addition, the Company operates in only one geographical segment, Canada, although it does service its U.S. clients by shipping and invoicing from its facilities in Mississauga, Ontario. Some deliveries are routed through an independent warehouse in the United States. The breakdown of the Company’s revenues by geographic areas for the periods ended December 31, 2025 and September 30, 2025 are as follows: The Company’s long-lived assets are located in Canada. December 31, 2025 September 30, 2025 Type of payment Compensation and benefits 61,688 $ 246,750 $ Stock option expense - - 61,688 $ 246,750 $ Amounts due to related parties at period end 119,836 $ 115,651 $ December 31, 2025 December 31, 2024 Canada 27% 12% United States 73% 88% 100% 100%