None
SEDAR Interim Financial Statements
SNA · Price
[
{
"companyName": "Star Navigation Systems Group Ltd.",
"reportingPeriodEnd": "2025-12-31",
"reportStatus": "Unaudited",
"auditorName": null,
"auditorKeyMatters": [],
"balanceSheet": {
"cash": 327731,
"accountsReceivable": 17182,
"salesTaxRecoverable": 47370,
"prepaidExpensesAndDeposits": 31051,
"totalCurrentAssets": 423334,
"propertyAndEquipment": 30131,
"rightOfUseAssets": 318195,
"totalNonCurrentAssets": 348326,
"totalAssets": 771660,
"bankIndebtedness": 0,
"accountsPayableAndAccruedLiabilities": 4289641,
"leaseLiabilityCurrentPortion": 162411,
"dueToCreditorsUnderTermsOfNOI": 285300,
"subscriptionReceivedInAdvance": 786900,
"dueToRelatedParties": 1407224,
"totalCurrentLiabilities": 6931476,
"leaseLiability": 384826,
"loansPayable": 129918,
"totalLiabilities": 7446220,
"shareCapital": 48095209,
"contributedSurplus": 30144020,
"deficit": -84913789,
"totalShareholdersDeficiency": -6674560,
"totalLiabilitiesAndShareholdersDeficiency": 771660,
"cashPerShare": 0.0002,
"workingCapitalPerShare": -0.0043
},
"incomeStatement": {
"revenue": 0,
"costOfInventoryConsumed": 0,
"generalAndAdministrative": 439744,
"marketingAndPromotion": 1006600,
"productMaintenanceAndOperatingCosts": 224779,
"foreignExchangeGain": 0,
"lossFromOperations": -1671123,
"rentalIncome": 22920,
"interestExpense": -1500,
"interestExpenseLeaseLiability": -29476,
"netAndComprehensiveLoss": -1679179,
"basicAndDilutedLossPerCommonShare": -0.001,
"weightedAverageNumberOfCommonSharesOutstanding": 1507610494
},
"cashFlowStatement": {
"netAndComprehensiveLoss": -1679179,
"amortizationOfPropertyAndEquipment": 4471,
"depreciationOfRightOfUseAssets": 53032,
"interestOnLeaseLiability": 29476,
"interestOnLongTermDebt": 1500,
"directorsFees": 96000,
"changesInAccountsReceivables": 0,
"changesInSalesTaxRecoverable": 58904,
"changesInPrepaidExpense": -15000,
"changesInAccountsPayableAndAccruedLiabilities": 290490,
"netCashUsedByOperatingActivities": -1160306,
"leaseLiabilityPayments": -101473,
"loansPayable": 641100,
"issuanceOfSharesNetOfIssuanceCosts": 1032350,
"netCashProvidedByFinancingActivities": 1571977,
"netChangeInCash": 411671,
"cashBeginningOfPeriod": -83940,
"cashEndOfPeriod": 327731
},
"investmentsAndOtherAssets": [
{
"type": "Subsidiary",
"description": "Star-Isoneo Inc. (non-wholly owned subsidiary)",
"ownershipPercentage": 80,
"value": null,
"notes": "Consolidated; non-controlling interest deemed immaterial"
},
{
"type": "Subsidiary",
"description": "Star Navigation Systems Inc. (Star)",
"ownershipPercentage": 100,
"value": null,
"notes": "Wholly owned, consolidated"
},
{
"type": "Subsidiary",
"description": "Star Navigation Systems (Quebec) Inc.",
"ownershipPercentage": 100,
"value": null,
"notes": "Wholly owned, consolidated, inactive"
},
{
"type": "Subsidiary",
"description": "Star Navigation Systems (U.K) Ltd.",
"ownershipPercentage": 100,
"value": null,
"notes": "Wholly owned, consolidated, inactive"
}
],
"shareStructure": {
"authorizedShares": "Unlimited common shares; 615,000 Series I First Preferred Shares; 350,000 Series II First Preferred Shares",
"issuedShares": 1535035929,
"classesOfShares": ["Common shares", "Series I First Preferred Shares", "Series II First Preferred Shares"],
"warrants": [
{
"number": 112138800,
"exercisePrice": 0.05,
"expiryDate": "2027-01-04"
},
{
"number": 94251590,
"exercisePrice": 0.05,
"expiryDate": "2027-01-04"
},
{
"number": 102328572,
"exercisePrice": 0.05,
"expiryDate": "2027-10-11"
},
{
"number": 33925000,
"exercisePrice": 0.05,
"expiryDate": "2027-11-01"
},
{
"number": 19350000,
"exercisePrice": 0.05,
"expiryDate": "2028-11-20"
},
{
"number": 50740000,
"exercisePrice": 0.05,
"expiryDate": "2029-02-26"
},
{
"number": 66216666,
"exercisePrice": 0.05,
"expiryDate": "2029-02-26"
},
{
"number": 48025000,
"exercisePrice": 0.05,
"expiryDate": "2029-12-31"
},
{
"number": 89505600,
"exercisePrice": 0.05,
"expiryDate": "2030-02-25"
},
{
"number": 121570000,
"exercisePrice": 0.05,
"expiryDate": "2030-07-04"
},
{
"number": 47500000,
"exercisePrice": 0.05,
"expiryDate": "2030-10-04"
}
],
"options": [
{
"number": 14500000,
"exercisePrice": 0.05,
"expiryDate": "2026-12-04"
},
{
"number": 15500000,
"exercisePrice": 0.05,
"expiryDate": "2028-10-09"
},
{
"number": 23500000,
"exercisePrice": 0.05,
"expiryDate": "2029-01-15"
}
],
"rightsConvertibleInstruments": "Series II First Preferred Shares are exchangeable for common shares at rates of 5, 3.33, and 2.5 common shares per preferred share in first, second, and third years after issue respectively."
},
"managementCompensation": {
"currency": "CAD",
"periods": {
"2025-12-31": {
"salaries": 137502,
"directorsFees": 96000,
"total": 233502
},
"2024-12-31": {
"salaries": 137502,
"directorsFees": 321000,
"total": 458502
}
},
"namedIndividuals": [],
"otherRelatedPartyTransactions": [
{
"counterparty": "Directors",
"description": "Accrued compensation due",
"amount": 1267000,
"period": "2025-12-31"
},
{
"counterparty": "Directors and Officers",
"description": "Accrued compensation included in accounts payable",
"amount": 1369762,
"period": "2025-12-31"
},
{
"counterparty": "Committee Chairpersons",
"description": "Accrued compensation due",
"amount": 125000,
"period": "2025-12-31"
},
{
"counterparty": "Former Chief Executive Officer",
"description": "Amount due",
"amount": 15224,
"period": "2025-12-31"
}
]
},
"subsequentEvents": [
{
"eventDate": null,
"description": "Closed a non-brokered private placement of 88,660,000 units at $0.01 per unit for gross proceeds of $886,600. Each unit consists of one common share and one warrant exercisable at $0.05 for five years.",
"impactValue": 886600
}
]
}
]
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