SEDAR Interim Financial Statements

[
  {
    "companyName": "REALIA PROPERTIES INC.",
    "reportingPeriodEnd": "2025-06-30",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cash": 2790238,
      "amountsReceivable": 3343077,
      "prepaidExpensesAndDeposits": 100110,
      "bondReceivable": 9379562,
      "totalCurrentAssets": 15612987,
      "investmentProperties": 24239713,
      "mortgageReserveFund": 1968694,
      "totalAssets": 41821394,
      "accountsPayableAndAccruedLiabilities": 124840,
      "currentPortionOfMortgagesPayable": 298535,
      "convertibleDebentures": 2062181,
      "totalCurrentLiabilities": 2485556,
      "tenantsSecurityDeposits": 149594,
      "mortgagesPayable": 18316508,
      "totalLiabilities": 20951658,
      "shareCapital": 21800437,
      "equityComponentOfConvertibleDebentures": 149052,
      "contributedSurplus": 1313196,
      "accumulatedOtherComprehensiveIncomeLoss": -824810,
      "deficit": -5870365,
      "equityAttributableToShareholders": 16567510,
      "nonControllingInterest": 4302226,
      "totalShareholdersEquity": 20869736,
      "cashPerShare": 0.0109,
      "workingCapitalPerShare": 0.0514
    },
    "incomeStatement": {
      "rentalIncome": 1637711,
      "recoveriesOfOperatingExpensesIncome": 757248,
      "otherIncome": 1634,
      "totalRevenue": 2396593,
      "operatingAndLeasingExpenses": -1235572,
      "earningsFromPropertyOperations": 1161021,
      "generalAndAdministrative": -237248,
      "depreciation": -593312,
      "netFinanceCosts": -501921,
      "changeInFairValueOfEmbeddedDerivativeLiability": 0,
      "miscellaneousIncome": 154223,
      "gainOnDisposalOfAsset": 5757536,
      "foreignExchangeGainLoss": -48239,
      "totalOtherRevenuesExpenses": 4531039,
      "netIncomeLossForThePeriod": 5692060,
      "foreignCurrencyTranslationOnUsOperations": -2378490,
      "comprehensiveIncomeLoss": 3313570,
      "netIncomeLossAttributedToNonControllingInterest": 1840523,
      "netIncomeLossAttributedToShareholders": 3851537,
      "weightedAverageNumberOfUnits": 255221137,
      "basicAndDilutedLossPerCommonShare": 0.00
    },
    "cashFlowStatement": {
      "netIncomeLossForThePeriod": 5692059,
      "depreciationAndAmortization": 607916,
      "accretion": 112484,
      "changeInFairValueOfDerivativeLiability": 0,
      "gainOnDisposalOfAssets": -5757536,
      "foreignExchange": 48239,
      "interestExpense": 852037,
      "interestIncome": -470594,
      "changeInOperatingAssetsAndLiabilities": -519990,
      "netCashProvidedByOperatingActivities": 564615,
      "decreaseToInvestmentProperties": 10595907,
      "proceedsFromSaleOfAssets": 6810358,
      "securityDepositsReceivedPaid": -89113,
      "netCashProvidedByUsedInInvestingActivities": 17317152,
      "repaymentOfMortgagePayableAndInterest": -9228682,
      "interestPaidOnConvertibleDebt": -70117,
      "decreaseToNonControllingInterest": -4929648,
      "contributionsToMortgageReserveFunds": -213423,
      "netCashUsedInFinancingActivities": -14441871,
      "effectOfExchangeRateChangesOnCash": -2449046,
      "increaseDecreaseInCash": 990850,
      "cashBeginningOfPeriod": 1799388,
      "cashEndOfPeriod": 2790238
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Bond Receivable",
        "description": "Short-term, senior bond secured by interest in certain real estate properties (T-Westbrook Center LLC and East Winds Resort Ltd. in St. Lucia).",
        "ownershipPercentage": null,
        "value": 9379563,
        "notes": "Maturity date extended to December 31, 2025. Subsequent to period-end, the Company exercised its option to convert the bond into a 50% ownership interest in the underlying properties."
      },
      {
        "type": "Investment Property",
        "description": "Metro Gateway Shopping Center, Phoenix, Arizona",
        "ownershipPercentage": 25.01,
        "value": null,
        "notes": "Acquired March 30, 2016. On February 23, 2023, 74.99% ownership interest was conveyed to a third party. The Company retains control."
      },
      {
        "type": "Investment Property",
        "description": "Martin Downs Town Center, Palm Springs, Florida",
        "ownershipPercentage": 25.01,
        "value": null,
        "notes": "Acquired in stages, now 100% owned. On February 23, 2023, 74.99% ownership interest was conveyed to a third party. The Company retains control."
      }
    ],
    "shareStructure": {
      "authorizedShares": "unlimited",
      "issuedShares": 255221137,
      "classesOfShares": [
        "common shares",
        "non-voting, perpetual, redeemable preferred shares"
      ],
      "warrants": [],
      "options": [
        {
          "number": 360000,
          "exercisePrice": 0.06,
          "expiryDate": "2025-07-28"
        }
      ],
      "rightsConvertibleInstruments": "Convertible debentures, convertible into common shares at $0.10 per share (note 8)."
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "2025-06-30": {
          "consultingFees": 69996
        },
        "2024-06-30": {
          "consultingFees": 69996
        }
      },
      "namedIndividuals": [
        {
          "name": "CFO",
          "title": "CFO",
          "period": "2025-06-30",
          "components": {
            "salary": 0,
            "bonus": 0,
            "consultingFees": 49998,
            "total": 49998
          }
        },
        {
          "name": "Corporate Secretary",
          "title": "Corporate Secretary",
          "period": "2025-06-30",
          "components": {
            "salary": 0,
            "bonus": 0,
            "consultingFees": 19998,
            "total": 19998
          }
        }
      ],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "Inovalis S.A.",
          "description": "Asset management and fund management fees for Investment Properties",
          "amount": 282957,
          "period": "2025-06-30"
        },
        {
          "counterparty": "Hoche Partners Private Equity Investors",
          "description": "Acquisition of bond receivable",
          "amount": 9318375,
          "period": "2022-08-24"
        }
      ]
    },
    "subsequentEvents": [
      {
        "eventDate": "2024-12-31",
        "description": "Company exercised its option to convert the PAI bond into a 50% ownership interest in RLP Hospitality East Winds, Inc., secured by East Winds Resort in St. Lucia. Subject to shareholder and TSX-V approval.",
        "impactValue": null
      },
      {
        "eventDate": "2025-10-01",
        "description": "Convertible Debentures matured. Company paid 50% of principal balance ($1,476,150) in cash and repaid the remaining 50% via issuance of 24,602,500 common shares.",
        "impactValue": null
      },
      {
        "eventDate": "2026-01-09",
        "description": "Company entered into a Purchase and Sales Agreement to sell Metro Gateway Center and Martin Downs Town Center for a combined USD $26,000,000 to an arm's length party.",
        "impactValue": null
      }
    ]
  }
]