SEDAR Interim Financial Statements

SQID Technologies Limited ABN 44 121 655 472 Condensed Interim Financial Report (Unaudited) for the three month period ended - 30 September 2025 SQID Technologies Limited Corporate directory 30 September 2025 1 Directors Athan Lekkas Michael Clarke Andrew Sterling Company secretary Mark Pryn Registered office Level 14 440 Collins Street Melbourne VIC 3000 Principal place of business Level 14 440 Collins Street Melbourne VIC 3000 Auditor Connect National Audit North Building Level 3 333 Collins Street Melbourne VIC 3000 Website sqidtechnologies.com Stock exchange listing: Canadian Securities Exchange (CSE:SQID) SQID Technologies Limited Contents 30 September 2025 2 Consolidated statement of profit or loss and other comprehensive income 3 Consolidated statement of financial position 4 Consolidated statement of changes in equity 5 Consolidated statement of cash flows 6 Notes to the consolidated financial statements 7 General information The condensed interim financial statements cover SQID Technologies Limited as a stand-alone entity. The financial statements are presented in Australian dollars, which is SQID Technologies Limited's functional and presentation currency. SQID Technologies Limited is an Australian public company limited by shares and its shares are listed on the Canadian Securities Exchange (CSE:SQID). Its registered office and principal place of business is: Level 14 440 Collins Street Melbourne VIC 3000 The financial statements were authorised for issue, in accordance with a resolution of Directors. The Directors have the power to amend and reissue the financial statements. SQID Technologies Limited Consolidated statement of profit or loss and other comprehensive income For the period ended 30 September 2025 Note 9 months ended 30 Sep 2025 9 months ended 30 Sep 2024 $ $ The above consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes 3 Revenue from contracts with customers 3 140,063 146,788 Interest income 2 3 Expenses Consultancy fees (87,760) (108,135) Listing & registry expenses (20,499) (19,626) Non-executive director fees (13,500) (17,000) Professional fees (18,750) (22,617) Other expenses (11,843) (8,204) Total expenses (152,352) (175,582) Loss before income tax expense (12,287) (28,791) Income tax expense - - Loss after income tax expense for the period attributable to the owners of SQID Technologies Limited (12,287) (28,791) Other comprehensive income for the period, net of tax - - Total comprehensive income for the period attributable to the owners of SQID Technologies Limited (12,287) (28,791) Cents Cents Basic earnings per share 9 (0.09) (0.20) Diluted earnings per share 9 (0.09) (0.20) SQID Technologies Limited Consolidated statement of financial position As at 30 September 2025 Note 30 September 2025 31 December 2024 $ $ The above consolidated statement of financial position should be read in conjunction with the accompanying notes 4 Assets Current assets Cash and cash equivalents 10,433 33,394 Receivables 16,857 16,064 Other current assets 1,108 1,108 Total current assets 28,398 50,566 Non-current assets Other financial assets 25,191 25,191 Total non-current assets 25,191 25,191 Total assets 53,589 75,757 Liabilities Current liabilities Trade and other payables 5 24,823 34,704 Total current liabilities 24,823 34,704 Total liabilities 24,823 34,704 Net assets 28,766 41,053 Equity Issued capital 6 8,824,267 8,824,267 Accumulated losses (8 --- ,795,501) (8,783,214) Total equity 28,766 41,053 Approved by: "Athan Lekkas" Director 7 November 2025 SQID Technologies Limited Consolidated statement of changes in equity For the period ended 30 September 2025 The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes 5 Issued Common control Accumulated Total equity capital reserves losses $ $ $ $ Balance at 1 January 2024 8,824,267 - (8,724,169) 100,098 Loss after income tax expense for the period - - (28,791) (28,791) Other comprehensive income for the period, net of tax - - - - Total comprehensive income for the period - - (28,791) (28,791) Balance at 30 September 2024 8,824,267 - (8,752,960) 71,307 Issued Common control Accumulated Total equity capital reserves losses $ $ $ $ Balance at 1 January 2025 8,824,267 - (8,783,214) 41,053 Loss after income tax expense for the period - - (12,287) (12,287) Other comprehensive income for the period, net of tax - - - - Total comprehensive income for the period - - (12,287) (12,287) Balance at 30 September 2025 8,824,267 - (8,795,501) 28,766 SQID Technologies Limited Consolidated statement of cash flows For the period ended 30 September 2025 9 months ended 30 Sep 2025 9 months ended 30 Sep 2024 $ $ The above consolidated statement of cash flows should be read in conjunction with the accompanying notes 6 Cash flows from operating activities Receipts from customers 139,270 147,190 Payments to suppliers and employees (162,233) (205,921) (22,963) (58,731) Interest received 2 3 Net cash used in operating activities (22,961) (58,728) Net decrease in cash and cash equivalents (22,961) (58,728) Cash and cash equivalents at the beginning of the financial period 33,394 65,368 Cash and cash equivalents at the end of the financial period 10,433 6,640 SQID Technologies Limited Notes to the consolidated financial statements 30 September 2025 7 Note 1. Nature and continuance of operations SQID Technologies Limited is incorporated under the Laws of Australia, specifically the Corporations Act 2001. The registered office and principal place of business is located at Level 14 440 Collins St Melbourne, Victoria, 3000, Australia. The Company’s shares are listed on the Canadian Securities Exchange (CSE:SQID) During the financial period the principal continuing activities of the Company include: ? to provide merchant services and transaction processing to business merchants and ecommerce customers across both Business to Business (B2B) and Business to Consumer (B2C) segments through its leading partner platform; and ? management of investments held. Note 2. Material accounting policy information These general purpose financial statements for the interim half-year reporting period ended 30 September 2025 have been prepared in accordance with Australian Accounting Standard AASB 134 'Interim Financial Reporting' and the Corporations Act 2001, as appropriate for for-profit oriented entities. Compliance with AASB 134 ensures compliance with International Financial Reporting Standard IAS 34 'Interim Financial Reporting'. These general purpose financial statements do not include all the notes of the type normally included in annual financial statements. Accordingly, these financial statements are to be read in conjunction with the annual report for the year ended 31 December 2024. The principal accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period --- , unless otherwise stated. New or amended Accounting Standards and Interpretations adopted The Company has adopted all of the new or amended Accounting Standards and Interpretations issued by the Australian Accounting Standards Board ('AASB') that are mandatory for the current reporting period. There were no new mandatory Accounting Standards and Interpretations adopted during the reporting period that had a material impact. There are a number of new accounting standards, interpretations and amendments that have been issued but are not yet effective. None of these new accounting standards, interpretations and amendments are expected to have material impact on the financial statements of the group in the period of initial application. The Company has not early adopted any standard, interpretation or amendment that has been issued but is not yet effective. Going concern The financial statements have been prepared on a going concern basis. For the period ended 30 September 2025, the Company recorded revenue from contracts with customers of $140,063 (2024: $146,788) incurred a net loss of $12,287 (2024: $28,791) and had operating cash outflows of $22,961 (2024: $58,728). As at 30 September 2025 the Company had net current assets of $3,575 (31 December 2024: $15,862) and net assets of $28,766 (31 December 2024: $41,053). These conditions give rise to a material uncertainty that may cast significant doubt on the Company’s ability to continue as a going concern, and therefore, that it may be unable to realise its assets and discharge its liabilities in the normal course of business. Notwithstanding the above, the Directors believe there are reasonable grounds to expect the Company will realise its assets and extinguish its liabilities in the normal course of business and at the amounts stated in the financial report, and that therefore it is appropriate to adopt the going concern basis in the preparation of the annual financial report. The Directors have prepared a cash flow forecast that indicates that the Company will have a positive cash position and sufficient cash flows to meet its commitments for a period of at least 12 months from the date of this report. Based on the above, the Directors are satisfied that the going concern basis of preparation is appropriate. Whilst the Directors have every confidence in the above, should these matters not be completed as anticipated and within the timeframe forecasted then whether the Company is able to continue as a going concern and therefore realise its assets and discharge its liabilities in the normal course of business, is uncertain. SQID Technologies Limited Notes to the consolidated financial statements 30 September 2025 Note 2. Material accounting policy information (continued) 8 The Directors have concluded that the going concern basis of accounting is appropriate, based on the operating cashflow projections whereby the Company envisages being able to settle its obligations as and when they fall due. Note 3. Revenue from contracts with customers The disaggregation of revenue from contracts with customers is as follows: 9 months ended 30 Sep 2025 9 months ended 30 Sep 2024 $ $ Commission (recognised at a point in time) 140,063 146,788 Note 4. Other financial assets 30 September 2025 31 December 2024 $ $ Non-current assets Shares in unlisted securities 25,191 25,191 (a) The Company holds 1,079,545 shares (3.37%) in Sienna Mining Limited which holds land positions in prospective uranium mining --- geology in Tanzania. The fair value is determined with reference to the most recent capital raise. Refer to note 8 'Fair value measurement' for further information. Note 5. Trade and other payables 30 September 2025 31 December 2024 $ $ Current liabilities Trade payables 13,677 6,216 Other payables 11,146 28,488 24,823 34,704 Note 6. Issued capital 30 September 2025 31 December 2024 30 September 2025 31 December 2024 Shares Shares $ $ Ordinary shares - fully paid 14,416,827 14,416,827 8,824,267 8,824,267 Ordinary share rights Ordinary shares entitle the holder to participate in dividends and the proceeds on the winding up of the Company in proportion to the number of and amounts paid on the shares held. The fully paid ordinary shares have no par value and the Company does not have a limited amount of authorised capital. Generally, every member present at a meeting in person or by proxy shall have one vote for each share held. SQID Technologies Limited Notes to the consolidated financial statements 30 September 2025 Note 6. Issued capital (continued) 9 Capital management Management controls the capital of the Company in order to ensure that the Company can fund its operations and continue as a going concern. There are no externally imposed capital requirements. Management effectively manages the Company’s capital by assessing the Company's financial risks and adjusting its capital structure in response to changes in these risks and in the market. Note 7. Financial instruments Financial risk management objectives The Company's operations are exposed the following financial risks: - Interest rate risk, - Credit risk, - Liquidity risk, - Price risk, and - Foreign currency risk. The board of directors has overall responsibility for identifying and managing operational and financial risks. Price risk The Company’s exposure to equity securities price risk for the previous reporting period arose from investments held and classified in the statement of financial position as listed and unlisted equities at fair value through profit or loss. In the current reporting period, the exposure was removed through investment sales and impairment. The impact of 10% increase or decrease in security prices on the Company’s loss before tax and net assets for the previous reporting period is set out below. Average price increase Average price decrease 30 September 2025 % change Effect on profit before tax Effect on equity % change Effect on profit before tax Effect on equity Unlisted securities 10% 2,519 2,519 10% 2,519 2,519 Average price increase Average price decrease 31 December 2024 % change Effect on profit before tax Effect on equity % change Effect on profit before tax Effect on equity Unlisted securities 10% 2,519 2,519 10% 2,519 2,519 Credit risk Credit risk arises from cash and cash equivalents held with banks and financial institutions, as well as customer contract credit exposures to customers. Risk management Credit risk is managed through the maintenance of procedures ensuring to the extent possible that customers and counterparties to transactions are of sound credit worthiness. Such monitoring is used in assessing receivables for impairment. Management maintains a close relationship with its major customer to ensure that contract deliverables are met in a timely manner. Risk is also minimised through holding cash and cash equivalent balances with financial institutions that maintain a high credit rating. Liquidity risk Liquidity risk manageme --- nt requires the Company to maintain sufficient liquid assets (mainly cash and cash equivalents) to be able to pay debts as and when they become due and payable. SQID Technologies Limited Notes to the consolidated financial statements 30 September 2025 Note 7. Financial instruments (continued) 10 The Company manages liquidity risk by maintaining adequate cash reserves and available borrowing facilities by continuously monitoring actual and forecast cash flows and matching the maturity profiles of financial assets and liabilities. Financing arrangements As at 30 September 2025 there were no unused borrowing facilities available. Remaining contractual maturities The following tables detail the Company's remaining contractual maturity for its financial instrument liabilities. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the financial liabilities are required to be paid. The remaining contractual liabilities shown in the tables below match the respective carrying amount in the statement of financial position. The following tables detail the Company's remaining contractual maturity for its financial instrument liabilities. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the financial liabilities are required to be paid. The remaining contractual liabilities shown in the tables below match the respective carrying amount in the statement of financial position. Weighted average interest rate 1 year or less Between 1 and 2 years Between 2 and 5 years Over 5 years Remaining contractual maturities 30 September 2025 % $ $ $ $ $ Non-derivatives Non-interest bearing Trade payables - 22,573 - - - 22,573 Total non-derivatives 22,573 - - - 22,573 Weighted average interest rate 1 year or less Between 1 and 2 years Between 2 and 5 years Over 5 years Remaining contractual maturities 31 December 2024 % $ $ $ $ $ Non-derivatives Non-interest bearing Trade payables - 34,704 - - - 34,704 Total non-derivatives 34,704 - - - 34,704 Note 8. Fair value measurement Assets and liabilities measured at fair value are classified into three levels, using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. Classifications are reviewed at each reporting date and transfers between levels are determined based on a reassessment of the lowest level of input that is significant to the fair value measurement. SQID Technologies Limited Notes to the consolidated financial statements 30 September 2025 Note 8. Fair value measurement (continued) 11 Fair value hierarchy The following tables detail the Company's assets and liabilities, measured or disclosed at fair value, using a three-level hierarchy, based on the lowest level of input that is significant to the entire fair value measurement, being: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly Level 3: Unobservable inputs for the asset or liability Level 1 Level 2 Level 3 Total 30 September 2025 $ $ $ $ Financial assets at fair value through profit or loss Unlisted securities - 25,191 - 25,191 Total assets - 25,191 - 25,191 Level 1 Level 2 Level 3 Total 31 December 2024 $ $ $ $ Financial asset --- s at fair value through profit or loss Unlisted securities - 25,191 - 25,191 Total assets - 25,191 - 25,191 Assets and liabilities held for sale are measured at fair value on a non-recurring basis. There were no transfers between levels during the financial period. The carrying amounts of trade and other receivables and trade and other payables are assumed to approximate their fair values due to their short-term nature. Valuation techniques for fair value measurements categorised within level 2 The fair value of unquoted investments is based on recent capital raisings proposed and / or completed by the investee company. Accounting policy for fair value measurement When an asset or liability, financial or non-financial, is measured at fair value for recognition or disclosure purposes, the fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date; and assumes that the transaction will take place either: in the principal market; or in the absence of a principal market, in the most advantageous market. For recurring and non-recurring fair value measurements, external valuers may be used when internal expertise is either not available or when the valuation is deemed to be significant. External valuers will be selected based on market knowledge and reputation. Where there is a significant change in fair value of an asset or liability from one period to another, an analysis is undertaken, which includes a verification of the major inputs applied in the latest valuation and a comparison, where applicable, with external sources of data. The Company has determined that recent capital raises provide the best indicator of the fair value of investment securities (financial assets) held. Accordingly, no external valuations were sought during the reporting period. The Company policy is to reassess the fair value hierarchy level for each investment at the end of each reporting period. Where applicable investments will be transferred between fair value hierarchy levels at the most recent fair value determination prior to the transfer. There were no transfers between fair value hierarchy levels during the reporting period. SQID Technologies Limited Notes to the consolidated financial statements 30 September 2025 12 Note 9. Earnings per share 9 months ended 30 Sep 2025 9 months ended 30 Sep 2024 $ $ Earnings per share for loss from continuing operations Loss after income tax attributable to the owners of SQID Technologies Limited (12,287) (28,791) Cents Cents Basic earnings per share (0.09) (0.20) Diluted earnings per share (0.09) (0.20) 9 months ended 30 Sep 2025 9 months ended 30 Sep 2024 $ $ Loss after income tax attributable to the owners of SQID Technologies Limited (12,287) (28,791) Cents Cents Basic earnings per share (0.09) (0.20) Diluted earnings per share (0.09) (0.20) Number Number Weighted average number of ordinary shares used in calculating basic earnings per share 14,416,827 14,416,827 Weighted average number of ordinary shares used in calculating diluted earnings per share 14,416,827 14,416,827 Note 10. Events after the reporting period No matter or circumstance has arisen since 30 September 2025 that has significantly affected, or may significantly affect the Company's operations, the results of those operations, or the Company's state of affairs in future financial years.