SEDAR Interim Financial Statements

[
  {
    "companyName": "Forward Water Technologies Corp.",
    "reportingPeriodEnd": "2025-12-31",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cash": 656342,
      "shortTermInvestmentCertificate": 11203,
      "amountsReceivable": 19323,
      "prepaidExpenses": 16762,
      "totalCurrentAssets": 703630,
      "propertyAndEquipment": 1350770,
      "intangibleAssets": 985715,
      "goodwill": 280968,
      "totalAssets": 3321083,
      "accountsPayablesAndAccruedLiabilities": 272284,
      "deferredRevenue": 79631,
      "currentPortionOfBankLoanPayable": 7489,
      "deferredCapitalContributions": 5188,
      "debenturePayable": 50000,
      "currentPortionOfLicenseLiability": 114967,
      "totalCurrentLiabilities": 529559,
      "bankLoanPayable": 23072,
      "loanPayable": 250726,
      "convertibleDebentures": 789891,
      "licenseLiability": 130492,
      "totalLiabilities": 1723740,
      "shareCapital": 3725812,
      "warrants": 678168,
      "equityPortionOfConvertibleDebentures": 95635,
      "contributedSurplus": 328127,
      "accumulatedDeficit": -3230399,
      "totalShareholdersEquity": 1597343,
      "cashPerShare": 0.0132,
      "workingCapitalPerShare": 0.0035
    },
    "incomeStatement": {
      "revenue": 59048,
      "generalAndAdministrative": 745824,
      "sellingAndMarketing": 10335,
      "researchAndDevelopment": 609494,
      "listingExpenses": null,
      "foreignExchangeLossIncome": -19888,
      "totalExpenses": 1345765,
      "netLossBeforeOtherItems": -1286717,
      "amortizationOfDeferredCapitalContributions": -3168,
      "financeIncome": -220,
      "financeCosts": 77932,
      "totalOtherExpense": 74544,
      "netLossAndComprehensiveLoss": -1361261,
      "lossPerShareBasic": -0.027,
      "lossPerShareDiluted": -0.027,
      "weightedAverageSharesOutstandingBasic": 49833836,
      "weightedAverageSharesOutstandingDiluted": 49833836
    },
    "cashFlowStatement": {
      "netLoss": -1361261,
      "depreciationAndAmortization": 381825,
      "amortizationOfDeferredCapitalContributions": -3168,
      "shareBasedCompensation": null,
      "foreignExchangeLoss": -13854,
      "financeCosts": 38736,
      "changesInAmountsReceivable": 18858,
      "changesInPrepaidExpenses": 32020,
      "changesInAccountsPayableAndAccruedLiabilities": -123014,
      "changesInDeferredRevenue": 79631,
      "netCashUsedInOperatingActivities": -950228,
      "proceedsFromConvertibleDebentures": 969500,
      "repaymentOfBankLoanPayable": -7605,
      "proceedsFromIssuanceOfSubscriptionReceipts": null,
      "issuanceCosts": null,
      "interestPaid": -2446,
      "netCashProvidedByFinancingActivities": 959449,
      "purchaseOfPropertyAndEquipment": -26127,
      "cashObtainedFromReverseTakeoverTransaction": null,
      "netCashUsedInInvestingActivities": -26127,
      "changeInCash": -16907,
      "cashBeginningOfPeriod": 673249,
      "cashEndOfPeriod": 656342
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Marketable Security",
        "description": "Short-term investment certificate",
        "ownershipPercentage": null,
        "value": 11203,
        "notes": ""
      }
    ],
    "shareStructure": {
      "authorizedShares": "unlimited",
      "issuedShares": 50010615,
      "classesOfShares": ["common shares"],
      "warrants": [
        {
          "number": 1365245,
          "exercisePrice": 0.1053,
          "expiryDate": "2028-02-22"
        },
        {
          "number": 924000,
          "exercisePrice": 0.75,
          "expiryDate": "2026-10-20"
        },
        {
          "number": 7546729,
          "exercisePrice": 0.1579,
          "expiryDate": "2027-09-30"
        },
        {
          "number": 828593,
          "exercisePrice": 0.1126,
          "expiryDate": "2026-09-30"
        },
        {
          "number": 344828,
          "exercisePrice": 0.2,
          "expiryDate": "2027-09-30"
        },
        {
          "number": 142096,
          "exercisePrice": 0.1126,
          "expiryDate": "2026-08-19"
        },
        {
          "number": 1776199,
          "exercisePrice": 0.1579,
          "expiryDate": "2027-09-30"
        },
        {
          "number": 5125000,
          "exercisePrice": 0.1,
          "expiryDate": "2028-10-29"
        },
        {
          "number": 792856,
          "exercisePrice": 0.1,
          "expiryDate": "2028-10-29"
        }
      ],
      "options": [
        {
          "number": 475000,
          "exercisePrice": 0.05,
          "expiryDate": "2032-09-26"
        },
        {
          "number": 1479245,
          "exercisePrice": 0.1,
          "expiryDate": "2033-02-22"
        },
        {
          "number": 62000,
          "exercisePrice": 0.85,
          "expiryDate": "2028-01-09"
        },
        {
          "number": 40120,
          "exercisePrice": 1.05,
          "expiryDate": "2028-01-19"
        },
        {
          "number": 10000,
          "exercisePrice": 1.75,
          "expiryDate": "2026-11-09"
        }
      ],
      "rightsConvertibleInstruments": "Convertible debentures (note 13) with conversion prices of $0.07 per share before October 29, 2026 and $0.10 thereafter until maturity on October 29, 2028."
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "2025-12-31": {
          "salariesAndBenefits": 141750,
          "consultingFees": 86540,
          "shareBasedCompensation": null,
          "total": 228290
        }
      },
      "namedIndividuals": [
        {
          "name": "Mike Willetts",
          "title": "Chief Financial Officer",
          "period": "2025-12-31",
          "components": {
            "salary": null,
            "bonus": null,
            "total": 86540
          }
        }
      ],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "Original shareholder of FWTI",
          "description": "Loan payable of $300,000 with 6% interest, repayable as 5% of gross margin, maturing April 30, 2029",
          "amount": 300000,
          "period": "Ongoing"
        }
      ]
    },
    "subsequentEvents": []
  }
]