SEDAR Interim Financial Statements

[
  {
    "companyName": "Realia Properties Inc.",
    "reportingPeriodEnd": "2025-09-30",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cash": 3325873,
      "amountsReceivable": 3534554,
      "prepaidExpensesAndDeposits": 141474,
      "bondReceivable": 9568687,
      "totalCurrentAssets": 16572588,
      "investmentProperties": 24626737,
      "mortgageReserveFund": 2087591,
      "totalAssets": 43286916,
      "accountsPayableAndAccruedLiabilities": 436632,
      "currentPortionOfMortgagesPayable": 306021,
      "convertibleDebentures": 2126529,
      "totalCurrentLiabilities": 2869182,
      "tenantsSecurityDeposits": 157679,
      "mortgagesPayable": 18618837,
      "totalLiabilities": 21645698,
      "shareCapital": 21800437,
      "equityComponentOfConvertibleDebentures": 149052,
      "contributedSurplus": 1313196,
      "accumulatedOtherComprehensiveIncomeLoss": 52790,
      "deficit": -5981807,
      "equityAttributableToShareholders": 17333668,
      "nonControllingInterest": 4307550,
      "totalShareholdersEquity": 21641218,
      "cashPerShare": 0.0130,
      "workingCapitalPerShare": 0.0537
    },
    "incomeStatement": {
      "revenue": {
        "rentalIncome": 2327185,
        "recoveriesOfOperatingExpensesIncome": 1016702,
        "otherIncome": 3146,
        "totalRevenue": 3347033
      },
      "propertyOperatingExpenses": {
        "operatingAndLeasingExpenses": -1757343
      },
      "earningsFromPropertyOperations": 1589690,
      "otherRevenuesExpenses": {
        "generalAndAdministrative": -294737,
        "depreciation": -821564,
        "netFinanceCosts": -576908,
        "changeInFairValueOfEmbeddedDerivativeLiability": null,
        "miscellaneousIncome": 218737,
        "gainLossOnDisposalOfAsset": 5524120,
        "foreignExchangeGainLoss": -56334,
        "totalOtherRevenuesExpenses": 3993314
      },
      "netIncomeLossForThePeriod": 5583004,
      "otherComprehensiveIncomeLoss": {
        "foreignCurrencyTranslationOnUSOperations": -1392014
      },
      "comprehensiveIncomeLoss": 4190990,
      "netIncomeLossAttributedTo": {
        "nonControllingInterest": 1842911,
        "shareholdersOfRealiaPropertiesInc": 3740093
      },
      "comprehensiveIncomeLossAttributedTo": {
        "nonControllingInterest": 1800770,
        "shareholdersOfRealiaPropertiesInc": 2390220
      },
      "weightedAverageSharesOutstanding": 255221137
    },
    "cashFlowStatement": {
      "cashFlowsFromOperatingActivities": {
        "netIncomeLossForThePeriod": 5583004,
        "adjustments": {
          "depreciationAndAmortization": 830110,
          "accretion": 172835,
          "changeInFairValueOfDerivativeLiability": null,
          "gainOnDisposalOfAssets": -5524120,
          "foreignExchange": 56334,
          "interestExpense": 1071300,
          "interestIncome": -679218,
          "changeInOperatingAssetsAndLiabilities": -892340
        },
        "netCashProvidedByOperatingActivities": 617905
      },
      "cashFlowsFromInvestingActivities": {
        "decreaseIncreaseToInvestmentProperties": 10802487,
        "proceedsFromSaleOfAssets": 6924172,
        "securityDepositsReceivedPaid": -85892,
        "netCashProvidedByUsedInInvestingActivities": 17640767
      },
      "cashFlowsFromFinancingActivities": {
        "repaymentOfMortgagePayableAndInterest": -9650924,
        "interestPaidOnConvertibleDebt": -105176,
        "decreaseToNonControllingInterest": -5035586,
        "contributionsToMortgageReserveFunds": -332320,
        "netCashUsedInFinancingActivities": -15124006
      },
      "effectOfExchangeRateChangesOnCash": -1608181,
      "increaseDecreaseInCash": 1526485,
      "cashBeginningOfPeriod": 1799388,
      "cashEndOfPeriod": 3325873
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Investment Property",
        "description": "Metro Gateway Shopping Center, Phoenix, Arizona",
        "ownershipPercentage": 25.01,
        "value": null,
        "notes": "Acquired March 30, 2016. 74.99% ownership conveyed to third party on February 23, 2023 via note conversion. Company retains control."
      },
      {
        "type": "Investment Property",
        "description": "116th Street Centre, Carmel, Indiana",
        "ownershipPercentage": 25.01,
        "value": null,
        "notes": "Acquired August 31, 2016. 74.99% ownership conveyed to third party on February 23, 2023 via note conversion. Sold on April 23, 2025."
      },
      {
        "type": "Investment Property",
        "description": "Martin Downs Town Center, Palm Springs, Florida",
        "ownershipPercentage": 25.01,
        "value": null,
        "notes": "Acquired in stages (49% in 2015, additional 9% in 2018, 41% in 2018, remaining 1% in 2021). 74.99% ownership conveyed to third party on February 23, 2023 via note conversion. Company retains control."
      },
      {
        "type": "Bond Receivable",
        "description": "Senior bond acquired from Hoche Partners Private Equity Investors, secured by interest in real estate properties",
        "ownershipPercentage": null,
        "value": 9570688,
        "notes": "Maturity extended to December 31, 2025. Accrues interest at 8.25%. Subsequent to period-end, Company exercised option to convert into 50% interest in the underlying real estate properties."
      }
    ],
    "shareStructure": {
      "authorizedShares": "unlimited",
      "issuedShares": 255221137,
      "classesOfShares": ["common", "preferred"],
      "warrants": [],
      "options": [],
      "rightsConvertibleInstruments": "Convertible debentures (TSXV: RLP.DB) matured October 1, 2025; 50% principal repaid in cash, 50% via share issuance."
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "nineMonthsEndedSep302025": {
          "consultingFees": 104994
        },
        "nineMonthsEndedSep302024": {
          "consultingFees": 104994
        }
      },
      "namedIndividuals": [
        {
          "name": "CFO",
          "title": "Chief Financial Officer",
          "period": "nineMonthsEndedSep302025",
          "components": {
            "salary": null,
            "bonus": null,
            "total": 74997
          }
        },
        {
          "name": "Corporate Secretary",
          "title": "Corporate Secretary",
          "period": "nineMonthsEndedSep302025",
          "components": {
            "salary": null,
            "bonus": null,
            "total": 29997
          }
        }
      ],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "Inovalis S.A.",
          "description": "Nominee Ownership and Agency Agreement for acquisition of hotel resort in St. Lucia; asset management services provided by Realia Hospitality Inc.",
          "amount": 50706,
          "period": "nineMonthsEndedSep302025"
        },
        {
          "counterparty": "Inovalis SA",
          "description": "Fund Management Fees from Investment Properties distributions per agreement dated February 23, 2023",
          "amount": 395686,
          "period": "nineMonthsEndedSep302025"
        }
      ]
    },
    "subsequentEvents": [
      {
        "eventDate": "2024-12-31",
        "description": "Company exercised option to convert its interest in the PAI bonds into a 50% ownership interest in RLP Hospitality East Winds, Inc., secured by East Winds Resort in St. Lucia. Shareholder and TSX-V approval pending.",
        "impactValue": null
      },
      {
        "eventDate": "2025-10-01",
        "description": "Convertible Debentures matured; Company paid 50% of principal balance ($1,476,150) in cash and repaid remaining 50% via issuance of 24,602,500 common shares.",
        "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
      }
    ]
  }
]