SEDAR Interim Financial Statements

[
  {
    "companyName": "Realia Properties Inc.",
    "reportingPeriodEnd": "2025-03-31",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cash": 1070428,
      "amountsReceivable": 3388094,
      "prepaidExpensesAndDeposits": 106299,
      "bondReceivable": 9883500,
      "totalCurrentAssets": 14448321,
      "investmentProperties": 37161927,
      "mortgageReserveFund": 2059896,
      "totalAssets": 53670144,
      "accountsPayableAndAccruedLiabilities": 270855,
      "currentPortionOfMortgagesPayable": 515794,
      "convertibleDebentures": 2001513,
      "totalCurrentLiabilities": 2788162,
      "tenantsSecurityDeposits": 265356,
      "mortgagesPayable": 27888950,
      "totalLiabilities": 30942468,
      "shareCapital": 21800437,
      "equityComponentOfConvertibleDebentures": 149052,
      "contributedSurplus": 1313196,
      "accumulatedOtherComprehensiveIncome": 1480146,
      "deficit": -9652989,
      "equityAttributableToShareholders": 15089842,
      "nonControllingInterest": 7637834,
      "totalShareholdersEquity": 22727676,
      "cashPerShare": 0.0042,
      "workingCapitalPerShare": 0.0457
    },
    "incomeStatement": {
      "rentalIncome": 1052011,
      "recoveriesOfOperatingExpensesIncome": 452933,
      "otherIncome": 1151,
      "totalRevenue": 1506095,
      "operatingAndLeasingExpenses": -701833,
      "earningsFromPropertyOperations": 804262,
      "generalAndAdministrative": -172811,
      "depreciation": -345332,
      "netFinanceCosts": -164542,
      "changeInFairValueOfEmbeddedDerivativeLiability": 0,
      "miscellaneousIncome": 89615,
      "foreignExchangeGainLoss": -51619,
      "totalOtherExpenses": -644689,
      "netIncomeLossForThePeriod": 159573,
      "foreignCurrencyTranslationOnUsOperations": 82288,
      "comprehensiveIncomeLoss": 241861,
      "netIncomeLossAttributedToNonControllingInterest": 90661,
      "netIncomeLossAttributedToShareholders": 68912,
      "comprehensiveIncomeLossAttributedToNonControllingInterest": 95467,
      "comprehensiveIncomeLossAttributedToShareholders": 146393,
      "weightedAverageNumberOfUnits": 255221137,
      "basicAndDilutedIncomeLossPerCommonShare": 0.0003
    },
    "cashFlowStatement": {
      "netIncomeLossForThePeriod": 159573,
      "depreciationAndAmortization": 321329,
      "accretion": 55813,
      "changeInFairValueOfDerivativeLiability": 0,
      "foreignExchange": 51619,
      "interestExpense": 373091,
      "interestIncome": -268359,
      "changeInOperatingAssetsAndLiabilities": -617942,
      "netCashProvidedByOperatingActivities": 75124,
      "additionsToInvestmentProperties": -19553,
      "securityDepositsReceivedPaid": 13824,
      "netCashUsedInInvestingActivities": -5729,
      "repaymentOfMortgagePayableAndInterest": -454162,
      "interestPaidOnConvertibleDebt": -35059,
      "proceedsFromConvertibleDebt": 0,
      "contributionsToMortgageReserveFunds": -304625,
      "netCashUsedInFinancingActivities": -793846,
      "effectOfExchangeRateChangesOnCash": -4509,
      "increaseDecreaseInCash": -728960,
      "cashBeginningOfPeriod": 1799388,
      "cashEndOfPeriod": 1070428
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Investment Property",
        "description": "Metro Gateway Shopping Center, Phoenix, Arizona",
        "ownershipPercentage": 25.01,
        "value": null,
        "notes": "Initially 100% interest acquired March 30, 2016. 74.99% ownership conveyed to third party February 23, 2023. Company retains control."
      },
      {
        "type": "Investment Property",
        "description": "116th Street Centre, Carmel, Indiana",
        "ownershipPercentage": 25.01,
        "value": null,
        "notes": "Initially 100% interest acquired August 31, 2016. 74.99% ownership conveyed to third party February 23, 2023. Company retains control."
      },
      {
        "type": "Investment Property",
        "description": "Martin Downs Town Center, Palm Springs, Florida",
        "ownershipPercentage": 25.01,
        "value": null,
        "notes": "Initially acquired 49% interest September 15, 2015, increased to 99% by October 17, 2018, then 100% by March 19, 2021. 74.99% ownership conveyed to third party February 23, 2023. Company retains control."
      },
      {
        "type": "Bond Receivable",
        "description": "Senior bond secured by interest in real estate properties",
        "ownershipPercentage": null,
        "value": 9883500,
        "notes": "Acquired from Hoche Partners Private Equity Investors. Maturity extended to December 31, 2025, interest rate 8.25%. Secured by interest in T-Westbrook Center LLC and East Winds Resort Ltd."
      },
      {
        "type": "Joint Venture",
        "description": "RLP US Sub LLC, TSP Metro Gateway LLC, TSP 116 Street LLC, Martin Downs NSC LLC",
        "ownershipPercentage": 25.01,
        "value": null,
        "notes": "Consolidated subsidiaries with 25.01% ownership interest."
      }
    ],
    "shareStructure": {
      "authorizedShares": "unlimited common shares and non-voting, perpetual, redeemable preferred shares",
      "issuedShares": 255221137,
      "classesOfShares": ["common shares"],
      "warrants": [],
      "options": [
        {
          "number": 360000,
          "exercisePrice": 0.06,
          "expiryDate": "2025-07-28"
        }
      ],
      "rightsConvertibleInstruments": "Convertible debentures: $2,952,300 principal, 4.75% interest, maturing September 30, 2025. 50% repayable in cash, 50% in common shares at $0.10 per share."
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "2025-03-31": {
          "consultingFees": 34998,
          "shareBased": 0,
          "total": 34998
        },
        "2024-03-31": {
          "consultingFees": 34998,
          "shareBased": 0,
          "total": 34998
        }
      },
      "namedIndividuals": [
        {
          "name": "CFO",
          "title": "CFO",
          "period": "2025-03-31",
          "components": {
            "salary": 0,
            "bonus": 0,
            "consultingFees": 24999,
            "total": 24999
          }
        },
        {
          "name": "Corporate Secretary",
          "title": "Corporate Secretary",
          "period": "2025-03-31",
          "components": {
            "salary": 0,
            "bonus": 0,
            "consultingFees": 9999,
            "total": 9999
          }
        }
      ],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "Inovalis S.A.",
          "description": "Nominee Ownership and Agency Agreement for acquisition of hotel resort in St. Lucia",
          "amount": 17337,
          "period": "2025-03-31"
        },
        {
          "counterparty": "Inovalis S.A.",
          "description": "Global IH Fund Management Fees from Investment Properties distributions",
          "amount": 170203,
          "period": "2025-03-31"
        }
      ]
    },
    "subsequentEvents": [
      {
        "eventDate": "2024-12-31",
        "description": "Company exercised option to convert PAI bond into 50% ownership interest in RLP Hospitality East Winds, Inc. (secured by East Winds Resort, St. Lucia). Subject to shareholder and TSX-V approval.",
        "impactValue": null
      },
      {
        "eventDate": "2025-04-23",
        "description": "Company sold 116th Street Center for USD $12,050,000 in arm's length transaction.",
        "impactValue": 12050000
      },
      {
        "eventDate": "2025-10-01",
        "description": "Convertible Debentures matured. Company paid 50% of principal balance ($1,476,150) in cash and issued 24,602,500 common shares for remaining 50%.",
        "impactValue": -1476150
      },
      {
        "eventDate": "2026-01-09",
        "description": "Company entered into Purchase and Sales Agreement to sell Metro Gateway Center and Martin Downs Town Center for combined USD $26,000,000.",
        "impactValue": 26000000
      }
    ]
  }
]