SEDAR Interim Financial Statements

BOBA MINT HOLDINGS LTD. CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE THREE AND SIX MONTHS ENDED DECEMBER 31, 2025 AND 2024 (EXPRESSED IN CANADIAN DOLLARS) (UNAUDITED) Notice To Reader The accompanying unaudited condensed consolidated interim financial statements of Boba Mint Holdings Ltd. (the "Company") have been prepared by and are the responsibility of management. The unaudited condensed consolidated interim financial statements have not been reviewed by the Company's auditors. Boba Mint Holdings Ltd. CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Expressed in Canadian Dollars) (Unaudited) As at, December 31, 2025 June 30, 2024 ASSETS Current assets Cash $ 77,472 $ 134,791 Restricted cash 6,000 6,000 Sales tax receivable 115,900 86,170 Prepaid expenses 950 950 Investment (note 5) - 20,700 Total assets $ 200,322 $ 248,611 LIABILITIES Current liabilities Accounts payables and accrued liabilities (note 11) $ 191,192 $ 208,253 Loan payable (note 6) 4,038,932 1,211,069 Total liabilities 4,230,124 1,419,322 SHAREHOLDERS' DEFICIENCY Share capital (note 7) 12,757,074 10,218,358 Contributed surplus (note 8) 505,164 356,779 Accumulated other comprehensive loss 46,966 58,341 Warrants (note 9) 1,442,610 1,608,979 Deficit (18,365,782) (13,123,775) Total (3,613,968) (881,318) Non-Controlling Interest (415,834) (289,393) Total shareholders' deficiency (4,029,802) (1,170,711) Total liabilities and shareholders' deficiency $ 200,322 $ 248,611 Nature of operations and going concern (note 1) Subsequent events (note 13) The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements. - 1 - Boba Mint Holdings Ltd. CONDENSED INTERIM CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS (Expressed in Canadian Dollars) (Unaudited) Three Months Ended December 31, Six Months Ended December 31, 2025 2024 2025 2024 Expenses Software development costs $ 191,015 $ - 489,971 - Marketing costs 13,348 - 307,429 - Web services - - 4,699 - Foreign exchange (369) 1,576 905 1,243 Listing and filing fees 25,117 9,536 65,927 24,403 Office and general 1,023 1,538 3,685 3,345 Professional fees (note 11) 159,463 22,820 282,405 46,032 Share based compensation (note 8) 60,700 - 148,385 - Total expenses 450,297 35,470 1,303,406 75,023 Other (income) expenses SR&ED (154) - (319,455) - Loss (gain) on settlement of debt (note 7) - (29,497) - (29,497) Consideration paid in excess of net asset acquired (notes 3 and 4) - - 4,570,711 - Net Loss $ 450,143 $ 5,973 5,554,662 45,526 Translation adjustment (70,706) - 11,375 - Total comprehensive loss for the period $ 379,437 $ 5,973 $ 5,566,037 $ 45,526 Net loss attributable to: Shareholders of the Company $ 349,029 $ 5,973 $ 5,298,639 $ 45,526 Non-controlling interest (note 12) 105,814 N/A 256,023 N/A Total $ 379,437 $ 5,973 $ 5,554,662 $ 45,526 Net loss per share (note 10) - Basic and diluted $ (0.00) $ (0.00) $ (0.06) $ (0.00) Weighted average number of common shares outstanding (note 10) - basic and diluted 102,378,038 46,265,212 99,741,734 46,265,212 The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements. - 2 - Boba Mint Holdings Ltd. CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS (Expressed in Canadian Dollars) (Unaudited) For the Six Months December 31, 2025 2024 Operating activities $ $ Net loss for the period (5,554,662) (45,526) Adjusting items: Foreign exchange 4,019 - Loss (ga --- in) on settlement of debt (note 7) - (29,497) Consideration paid in excess of net assets acquired (notes 3 and 4) 4,570,711 - Share based compensation (note 4) 148,385 - Changes in non-cash working capital items: Sales tax receivable (29,730) 4,050 Accounts receivable - (9,141) Accounts payables and accrued liabilities (17,061) 27,287 Cash flows used in operating activities (878,338) (52,827) Financing activities Proceeds from loan 706,361 - Repayment of loans (351,215) - Proceeds from exercise of warrants 430,300 - Cash flows provided by financing activities 785,446 - Investing activities Cash acquired from Acquisition (note 4) 14,873 - Return of funds from investment (note 5) 20,700 - Cash flows provided by investing activities 35,573 - Change in cash (57,319) (52,827) Cash, beginning of the period 140,791 65,640 Cash, end of the period 83,472 12,813 Cash 77,472 6,813 Restricted cash 6,000 6,000 Total 83,472 12,813 The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements. - 3 - Boba Mint Holdings Ltd. CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' DEFICIENCY (Expressed in Canadian Dollars) (Unaudited) Share Capital Contributed Surplus Warrants Deficit Accumulated other comprehensive loss Non- Controlling Interest Total $ $ $ $ $ $ $ Balance as of June 30, 2024 46,265,212 8,629,925 47,920 388,337 (9,458,822) - - (392,640) Net loss for the period - - - - (45,526) - - (45,526) Balance, December 31, 2024 46,265,212 8,629,925 47,920 388,337 (9,504,348) - - (438,166) Balance as of June 30, 2025 88,710,212 10,218,358 356,779 1,608,979 (13,123,775) 58,341 (289,393) (1,170,711) Fair market value adjustment for Werd - - - - 52,747 - (52,747) - Acquisition of Werd Studios Inc. 7,000,000 891,432 - - - - 182,329 1,073,761 Advisory shares in relation to Werd Studios Inc. acquisition 700,000 129,500 - - - - - 129,500 Acquisition of Amino - 925,000 - - - - - 925,000 Exercise of warrants 6,620,000 592,784 - (162,484) - - - 430,300 Share based compensation - - 148,385 - - - - 148,385 Expiry of warrants - - - (3,885) 3,885 - - - Net loss for the period - - - - (5,298,639) (11,375) (256,023) (5,566,037) Balance, as of December 31, 2025 103,030,212 12,757,074 505,164 1,442,610 (18,365,782) 46,966 (415,834) (4,029,802) The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements. - 4 - Boba Mint Holdings Ltd. Notes to Condensed Interim Consolidated Financial Statements Three and six months ended December 31, 2025, and 2024 (Expressed in Canadian Dollars, except where noted) (Unaudited) 1. NATURE OF OPERATIONS AND GOING CONCERN Bluecorp Capital Corp. ("Bluecorp") was incorporated under the Business Corporations Act (British Columbia) on October 18, 2019. On July 15, 2021, Bluecorp entered into a share exchange agreement with the shareholders of Boba Mint Co. Inc. (“Boba Inc.”), a private company incorporated under the Business Corporations Act (Ontario) on March 22, 2021, and Boba Inc. became the wholly owned subsidiary of Bluecorp. On April 20, 2022, Bluecorp and Boba Inc. entered into an amalgamation agreement with BiModal Creative Inc. ("BiModal"), a private company incorporated under the Business Corporations Act (Ontario). As a result, BiModal and Boba Inc. amalgamated and continue as Boba Inc. Snowy Owl Gold Corp.(“Snowy”) was incorporated on November 9, 2018 pursuant to the Business Corporations Act (British Columbia) --- (“BCBCA”). On April 22, 2024, Snowy entered into an amalgamation agreement with BlueCorp and 1381603 B.C. Ltd (“SubCo”), a newly incorporated, wholly owned subsidiary of Snowy. Pursuant to the agreement, the SubCo amalgamated with Bluecorp and continued as Bluecorp. On December 16, 2024, the Company consolidated its share capital on a 1 new to 5 old shares basis. All share and per share amounts have been retroactively restated for all prior periods to reflect the share consolidation. The resulting issuer continued as Boba Mint Holdings Ltd. (the "Company" or “Boba”). The Company’s common shares trade on the Canadian Securities Exchanges under the symbol “TNJ.CN”, and on the OTCQB as "WERDF". The registered head office is 1100 – 1111 Melville Street, Vancouver, British Columbia, V6E 3V6, Canada. Boba is a technology company focused on the development of blockchain mobile games that integrate ERC20 tokens. Its lega+cy product is a mobile blockchain gaming ecosystem called Tanjea, where gamers collect NFT characters (primarily birds and wolves) in multiple mobile games and use them to earn $TNJ tokens. Boba also owns a 100% interest in Werd Studios Inc. ("Werd"), a Toronto-based digital entertainment and technology company specializing in the development of mobile games, blockchain-integrated applications, and digital asset ecosystems. The studio operates across three verticals: mobile game development, blockchain asset creation, and strategic advisory services for emerging Web3 projects. Werd’s portfolio includes both traditional and Web3-enabled products, with a focus on high-engagement, gamified consumer experiences. Its flagship titles include Café Disco Party, Moon Poker, and Amino Rewards, an AI-powered nutrition app that gamifies healthy habits. These unaudited condensed consolidated interim financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities in the normal course of business as they come due. For the six months ended December 31, 2025, the Company reported a net loss of $5,566,037 (December 31, 2024 - $45,526), has cash outflows from operating activities of $878,338 (December 31, 2024 - $52,827). At December 31, 2025, the Company has cash balance of $77,472 (June 30, 2025 - $134,791). The Company's ability to continue as a going concern is dependent upon its ability to develop and maintain profitable operations or to obtain additional financing. However, there is no assurance that the outcome of these matters will be successful and, as a result, there are material uncertainties that might cause significant doubt regarding the going concern assumption. These unaudited condensed consolidated interim financial statements do not give effect to any adjustments which would be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and discharge its liabilities in other than the normal course of business and at amounts different from those reflected in the accompanying unaudited condensed consolidated interim financial statements. Such adjustments could be material. - 5 - Boba Mint Holdings Ltd. Notes to Condensed Interim Consolidated Financial Statements Three and six months ended December 31, 2025, and 2024 (Expressed in Canadian Dollars, except where noted) (Unaudited) 2. BASIS OF PREPARATION Statement of compliance The Company applies IFRS as issued by the International Accounting Stand --- ards Board (“IASB”) and interpretations issued by the International Financial Reporting Interpretations Committee (“Interpretations Committee”). These unaudited condensed consolidated interim financial statements have been prepared in accordance with International Accounting Standard 34, Interim Financial Reporting. Accordingly, they do not include all of the information required for full annual financial statements required by IFRS as issued by IASB and interpretations issued by the Interpretations Committee. The policies applied in these unaudited condensed consolidated interim financial statements are based on IFRSs issued and outstanding as of March 4, 2026, the date the Board of Directors approved the statements. The same accounting policies and methods of computation are followed in these unaudited condensed consolidated interim financial statements as compared with the most recent annual consolidated financial statements as at and for the year ended June 30, 2025. Any subsequent changes to IFRS that are given effect in the Company’s annual consolidated financial statements for the year ending June 30, 2026 could result in restatement of these unaudited condensed consolidated interim financial statements, such adjustments could be material. Basis of preparation These unaudited condensed consolidated interim financial statements have been prepared on the historical cost basis and presented in Canadian dollars. Basis of consolidation These unaudited condensed consolidated interim financial statements include the accounts of the Company and its wholly-owned subsidiary, Boba, and on March 5, 2025 acquired a 50% interest in Werd Studio's Inc., which also owns a 50% interest in Cafe Disco. On July 28, 2025, the Company acquired the remaining 50% interest in Werd, and Werd became a wholly-owned subsidiary of the Company, and concurrently acquired a total interest of 50% in Fitness Coin Technologies Inc. All significant inter-company transactions have been eliminated upon consolidation. Accounting Standards Adopted During the period ended September 30, 2025, the Company did not adopt any new accounting policies and standards which had a material effect on it+s consolidated financial statements, except for the below. Scientific Research and Experimental Development (SR&ED) Program The Scientific Research and Experimental Development (SR&ED) tax incentives are provided to businesses that conduct research and development in Canada, the company hired a consultant firm to identify the various developments of the company eligible for claiming tax incentives under SR&ED program. The tax incentives received are recognized on the statement of profit/(loss) and comprehensive profit/(loss) when assessed by government authorities or when refunded or applied against corporate taxes owing for the year. - 6 - Boba Mint Holdings Ltd. Notes to Condensed Interim Consolidated Financial Statements Three and six months ended December 31, 2025, and 2024 (Expressed in Canadian Dollars, except where noted) (Unaudited) 2. BASIS OF PREPARATION (continued) Accounting Standards Not Yet Adopted Certain pronouncements were issued by the IASB or the IFRIC that are mandatory for accounting periods commencing on or after July 1, 2026. Many are not applicable or do not have a significant impact to the Company and have been excluded. The following have not yet been adopted and are being evaluated to determine their impact on the Company. In May 2024, the IASB issued amendm --- ents to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments – Disclosures. The amendments clarify the derecognition of financial liabilities and introduces an accounting policy option to derecognize financial liabilities that are settled through an electronic payment system. The amendments also clarify how to assess the contractual cash flow characteristics of financial assets that include environmental, social and governance (ESG)-linked features and other similar contingent features and the treatment of non- recourse assets and contractually linked instruments (CLIs). Further, the amendments mandate additional disclosures in IFRS 7 for financial instruments with contingent features and equity instruments classified at FVOCI. The amendments are effective for annual periods starting on or after January 1, 2026. Retrospective application is required and early adoption is permitted. In April 2024, the IASB issued IFRS 18 Presentation and Disclosure in Financial Statements to improve reporting of financial performance. The new standards replaces IAS 1 Presentation of Financial Statements. IFRS 18 introduces new categories and required subtotals in the statement of profit and loss and also requires disclosure of management-defined performance measures. It also includes new requirements for the location, aggregation and disaggregation of financial information. The standard is effective for annual reporting periods beginning on or after January 1, 2027, including interim financial statements. Retrospective application is required and early adoption is permitted. 3. ACQUISITION OF WERD On January 17, 2025, the Company announced that it has signed an arm’s length letter of intent dated January 17, 2025 in connection with a proposed strategic investment in Werd Studios Inc. (“Werd”), a fast-growing blockchain/crypto gaming company based in Toronto, Ontario. The Company is proposing to acquire a 50% equity stake in Werd through a combination of a share purchase from existing shareholders of Werd, and a share subscription. On March 4, 2025, the Company entered into an agreement whereby it acquired a 50% equity stake in Werd through a combination of a share purchase from existing shareholders of Werd, and a share subscription. The purchase price for the 50% equity stake was $2,523,125, which consisted of 10,000,000 common shares of Boba, at $0.175 per share for consideration of $1,750,000, cash consideration of $550,000, and 1,275,000 advisory common share at $0.175 per share for consideration of $223,125. The cash consideration of $500,000, will be used as follows $100,000 cash to complete a 10% interest in Moon Poker, $300,000 cash in to complete the acquisition of a 50% interest in Café Disco, $80,000 to acquire a 10% interest in Amino subsequent to the initial acquisition, and $70,000 as legal and ancillary fees. Included in the 10,000,000 Boba common shares issued as consideration, 5,000,000 Boba common shares with a fair value of $875,000 are transferred to Werd as part of the consideration to be used to acquire an additional 40% investment in Amino Rewards at a future date. Concurrently Werd entered into agreements to close the transactions for Moon Poker and Cafe Disco prior to acquisition Werd on March 4, 2025, and will use the cash received through the acquisition of Werd to complete. The acquisition of the positions described above are not a condition of closing to the acquisition of Werd. - 7 - Boba Mint Holdings Ltd. Notes to --- Condensed Interim Consolidated Financial Statements Three and six months ended December 31, 2025, and 2024 (Expressed in Canadian Dollars, except where noted) (Unaudited) 3. ACQUISITION OF WERD (continued) At the date of acquisition, the Company determined that Werd did not constitute a business as defined under IFRS 3, Business Combinations, and the acquisition was accounted for as an asset acquisition. IFRS 2, Share- based Payment, applies to transactions where an entity grants equity instruments and cannot identify specifically some or all of the goods or services received in return. Because Boba would have issued shares with a value in excess of the net assets received, the difference is recognized in comprehensive loss as consideration paid in excess of net assets acquired. The difference between the fair value of the consideration paid of $2,523,125 and the fair value attributed to the net assets received of $237,977, was due in part to intangible assets, and an investment that did not meet the criteria for recognition as an asset. The excess of $2,285,148 was recognized as consideration paid in excess of net assets acquired in the consolidated statements of loss and comprehensive loss. The following table summarizes the allocation of the purchase price to the fair value of the assets acquired and liabilities assumed at the date of acquisition Consideration Cash $ 550,000 Common shares 1,750,000 Advisory shares 223,125 Total consideration $ 2,523,125 Identifiable assets and liabilities acquired Cash consideration receivable $ 550,000 Investments - Boba 875,000 Investments - Moon Poker - Intangible asset - Cafe Disco Party - Accounts payables and accrued liabilities (100,000) Loans payable (1,087,023) Total identifiable net assets acquired $ 237,977 Consideration paid in excess of net assets acquired $ 2,285,148 On July 29, 2025, the Company purchased the remaining 50% equity interest in Werd through the issuance of 7,000,000 common shares of the Company. The 7,000,000 common shares issued are subject to a contractual restricted period whereby (i) 25% of the common shares will become freely tradeable on the date which is 6 months following closing, (ii) an additional 25% of the common shares will become freely tradeable on the date which is 12 months following closing, and (iii) the remaining 50% of the common shares will become freely tradeable on the date which is 18 months following closing. The Company also issued 700,000 common shares for advisory services related to the transaction. During the six months ended December 31, 2025, the Company recognized consideration paid in excess of net assets acquired $1,071,952, related to the remaining 50% acquisition which did not result in a change in control. - 8 - Boba Mint Holdings Ltd. Notes to Condensed Interim Consolidated Financial Statements Three and six months ended December 31, 2025, and 2024 (Expressed in Canadian Dollars, except where noted) (Unaudited) 4. STEP ACQUISITION OF FITNESS COIN During the year ended June 30, 2025, the Company through its subsidiary Werd acquired 10% of the outstanding shares of Fitness Coin for gross proceeds of $119,000. The Company fully impaired its investment in Fitness Coin and as of June 30, 2025, the total investment in Fitness Coin was fair valued at $nil. On July 29, 2025, Werd acquired control of 50% of the total outstanding shares of Fitness Coin through a step of an additional 40% of the outstanding shares of Fitness Coin through the --- transfer of 5,000,000 common shares of the Company previously issued on March 5, 2025 to Werd and the payment of $400,000 in cash consideration. The determination of control of Fitness Coin involves significant judgment. De facto control exists in circumstances when an entity owns 50% or less of the voting rights in another entity but has control for reason other than voting rights or contractual and other statutory means. The consolidated financial statements include the results of Fitness Coin as management has determined that the Company has de facto control over Fitness Coin. The Company has the practical ability to direct the relevant activities of Fitness Coin and controls the Board of Directors. The Company holds 50% interest in Fitness Coin and has the highest percentage shareholding and has the right to elected the majority of the board of directors (the “Board”). The Company maintains control over the entity based on the following factors: i) any shareholder can appoint one director of Fitness Coin for every 20% shareholding and may remove or replace any appointee ii) board decision is taken by a simple majority of the votes, and the chairman of the Board of Fitness Coin is appointed from a director that represents the shareholder with the highest percentage shareholding and the chairman is granted a second or casting vote to give the Company control of the Board; and iii) the Board is responsible for the overall direction, supervision and management of Fitness Coin. At the date of acquisition, the Company determined that Fitness Coin did not constitute a business as defined under IFRS 3, Business Combinations, and the acquisition was accounted for as an asset acquisition. IFRS 2, Share-based Payment, applies to transactions where an entity grants equity instruments and cannot identify specifically some or all of the goods or services received in return. Because Boba would have issued shares with a value in excess of the net assets received, the difference is recognized in comprehensive loss as consideration paid in excess of net assets acquired. The difference between the fair value of the consideration paid of $1,325,000 and the fair value attributed to the net liabilities received of $2,044,259, was due in part to intangible assets, and an investment that did not meet the criteria for recognition as an asset. The excess of $3,369,259 was recognized as consideration paid in excess of net assets acquired in the consolidated statements of loss and comprehensive loss. Consideration Cash $ 400,000 Common shares 925,000 Total consideration $ 1,325,000 Identifiable assets and liabilities acquired Cash $ 14,873 Loan payable (2,059,132) Total identifiable assets acquired $ (2,044,259) Consideration paid in excess of net assets acquired $ 3,369,259 - 9 - Boba Mint Holdings Ltd. Notes to Condensed Interim Consolidated Financial Statements Three and six months ended December 31, 2025, and 2024 (Expressed in Canadian Dollars, except where noted) (Unaudited) 5. INVESTMENTS As at, December 31, 2025 June 30, 2025 Short term investments Cherry AI $ - $ 20,700 Total short-term investments $ - $ 20,700 Moon Gaming Inc. ("Moon Poker") On March 5, 2025, the Company acquired 10% of the outstanding shares of Moon Poker through the acquisition of Werd valued at $nil. Moon Poker is a private company focusing on a poker mobile game, where players can participate in daily tournaments to win real cash prizes. The Company is taking a long term approach --- with this investment. Fitness Coin Technologies Inc. ("Amino Rewards" or "Amino") Werd subsequent to its acquisition by the Company during the year ended June 30, 2025, acquired 10% of the outstanding shares of Amino for gross proceeds of $119,000. Amino Rewards is a private Company focusing on finding ways to incentivize a healthier lifestyle. During the year ended June 30, 2025, the Company recognized a full impairment on the Amino asset for $119,000. During the period ended September 30, 2025, the 10% value of the Amino asset was transferred to was reclassified to the 50% owned subsidiary (note 4). A fair value adjustment on the initial investment valued at $nil was on deemed to be of $331,250 for the period ended September 30, 2025. Cherry AI ("Chery") Werd subsequent to its acquisition by the Company in fiscal 2025, has invested $146,080 in the Cherry token. The Company recognized an impairment of $125,380 on its investment during the year ended June 30, 2025. During the period ended September 30, 2025, the Company received a return on its investment of $20,700. 6. LOAN PAYABLE On March 5, 2025, through the acquisition of Werd the Company acquired a loan from one individual in the amount of $1,087,023 (US$751,611) (note 3). As of June 30, 2025, the Company has a balance of $1,211,069 (US$880,409). During the three and six months ended December 31, 2025, the Company repaid $nil, and received cash advances of $360,757 (US$260,288), and a promissory note for $200,000 loan. As of December 31, 2025, the Company has a balance of $1,809,009 (US$1,319,866). The amounts are non-interest bearing, and are due on demand. On July 29, 2025, through the acquisition of Amino the Company acquired a loan from one individual in the amount of $2,059,132 (US$1,487,382) (note 4). During the three and six months ended December 31, 2025, the Company repaid $351,216 (US$252,768), and received cash advances of $545,604 (US$392,624). The amounts are non-interest bearing, and are due on demand. As of December 31, 2025, the Company has a balance of $2,229,924 (US$1,626,969). - 10 - Boba Mint Holdings Ltd. Notes to Condensed Interim Consolidated Financial Statements Three and six months ended December 31, 2025, and 2024 (Expressed in Canadian Dollars, except where noted) (Unaudited) 7. SHARE CAPITAL Authorized share capital The Company is authorized to issue an unlimited number of common shares without par value. Common shares issued On December 16, 2024, the Company consolidated its share capital on a 1 new to 5 old shares basis. All share and per share amounts have been retroactively restated for all prior periods to reflect the share consolidation. Number of Shares Share Capital Balance, June 30, 2024 and December 31, 2024 46,265,212 $ 8,629,925 Balance, June 30, 2025 88,710,212 $ 10,218,358 Shares issued for acquisition of Werd (note 3) 7,000,000 891,432 Advisory shares (note 3) 700,000 129,500 Acquisition of Fitness Coin (note 4) - 925,000 Exercise of warrants (note 9) 6,620,000 592,784 Balance, December 31, 2025 103,030,212 $ 12,757,074 8. STOCK OPTIONS The Company issued warrants to acquire common shares as follows: Number of Stock Options Weighted Average Exercise Price ($) Balance, June 30, 2024 and December 31, 2024 500,000 0.40 Balance, June 30, 2025 and December 31, 2025 3,400,000 0.20 (i) On January 17, 2025, the Company granted 3,400,000 options to directors, officers, and consultants of the Company, which vest over five years. The fair value of --- the options granted, as estimated at the time of grant, was $585,605. This value was calculated using the Black-Scholes pricing model and the following assumptions: weighted average exercise price of the options of $0.20 which corresponds to the share price at the time of grant, estimated life of five years, weighted average risk-free interest rate of 3.01%, volatility of 180%, and expected return on the stock of nil. During the three and six months ended December 31, 2025, the Company recorded $60,700 and $148,385, respectively (three and six months ended December 31, 2024 - $nil) in the statement of loss and comprehensive loss. The following table reflects the options issued and outstanding as of December 31, 2025: Expiry Date Exercise Price ($) Weighted Average Remaining Contractual Life (years) Number of Warrants Outstanding and Exercisable January 17, 2030 0.20 4.05 3,400,000 - 11 - Boba Mint Holdings Ltd. Notes to Condensed Interim Consolidated Financial Statements Three and six months ended December 31, 2025, and 2024 (Expressed in Canadian Dollars, except where noted) (Unaudited) 9. WARRANTS The Company issued warrants to acquire common shares as follows: Number of Warrants Weighted Average Exercise Price ($) Balance, June 30, 2024 and December 31, 2024 4,106,000 0.30 Balance, June 30, 2025 36,336,000 0.08 Exercised (6,620,000) (0.065) Expired (40,000) (0.25) Balance, December 31, 2025 29,676,000 0.10 The following table reflects the warrants issued and outstanding as of December 31, 2025: Expiry Date Exercise Price ($) Weighted Average Remaining Contractual Life (years) Number of Warrants Outstanding April 26, 2026 0.25 0.32 200,000 April 26, 2026 0.75 0.32 300,000 April 16, 2027 0.25 1.29 3,400,000 April 25, 2027 0.25 1.32 166,000 January 7, 2028 0.065 2.02 25,610,000 1.90 29,676,000 10. NET LOSS PER SHARE For the three and six months ended December 31, 2025, basic and diluted loss per share has been calculated based on the loss attributable to common shareholders of $379,437 and $5,566,037, respectively (December 31, 2024 - $5,973 and $45,526, respectively) and the weighted average number of common shares outstanding of 102,378,038 and 99,741,734, respectively (December 31, 2024 - 46,265,212 and 46,265,212, respectively). 11. RELATED PARTY TRANSACTIONS Related parties include the Board of Directors, officers, close family members and enterprises that are controlled by these individuals as well as certain persons performing similar functions. Mr. Jing Peng was appointed as the CFO on March 5, 2025, and is employed by MSSI. During the three and six months ended December 31, 2025, the Company incurred professional fees of $30,324 and $37,379, respectively (December 31, 2024 - $20,749 and $31,436, respectively) to MSSI. These services were incurred in the normal course of operations for general accounting and financial reporting matters, CFO fees, and corporate secretarial. As at December 31, 2025, MSSI was owed $2,318 (June 30, 2025 - $12,318), with respect to services provided, and this amount was included in accounts payable and accrued liabilities. During the three and six months ended December 31, 2025, the Company incurred professional fees of $10,000 and $20,000 (December 31, 2024 - $nil and $5,000, respectively) to the former CEO of the Company. As at December 31, 2025, the former CEO was owed $nil (June 30, 2025 - $9,225), with respect to services provided, and this amount was included in accounts payable and accrued lia --- bilities. During the three and six months ended December 31, 2025, the Company recognized share based compensation of $17,853 and $43,642, respectively (December 31, 2024 - $nil) from the January 17, 2025 grant options to directors and officers. - 12 - Boba Mint Holdings Ltd. Notes to Condensed Interim Consolidated Financial Statements Three and six months ended December 31, 2025, and 2024 (Expressed in Canadian Dollars, except where noted) (Unaudited) 12. NON-CONTROLLING INTEREST As at December 31, 2025, the Company controls 100% interest in Werd, a 50% interest in Cafe Disco through its ownership of common shares, through the shares held by Werd. Boba acquired 50% interest in Werd on March 4, 2025 (note 3), and a 25% interest in Cafe Disco through its ownership of common shares, through the shares held by Werd (50% ownership of Werd, which has a 50% ownership in Cafe Disco). On July 29, 2025, the Company purchased the remaining 50% equity interest in Werd, and concurrently increased its ownership of Fitness Coin to 50%. The non-controlling interest represents the Werd and Cafe Disco Common Shares not attributable to the Company. Reconciliation of non-controlling interest is as follows: Werd Cafe Disco Fitness Coin Total Balance, June 30, 2025 $ 128,797 $ 160,596 $ - $ 289,393 Fair market value change due to 100% acquisition of Werd 52,747 - - 52,747 Net loss (income) for the period 785 179,981 75,257 256,023 Change in ownership interest (182,329) - - (182,329) Balance, December 31, 2025 $ - $ 340,577 $ 75,257 $ 415,834 The condensed consolidated interim financial statements incorporate the assets and liabilities of Werd and Cafe Disco as of December 31, 2025. The following is summarized financial information, and prepared in accordance with IFRS. The information is before inter-company eliminations with other companies in the Group. Werd Cafe Disco Fitness Coin Total Summarized statement of financial position. $ $ $ Current assets 3 61,817 61,820 Non-current assets - - - Current liabilities (1,597,882) (2,229,924) (3,827,806) Non-current liabilities - - - Net assets (liabilities) (1,597,879) (2,168,107) (3,765,986) Net assets (liabilities) attributable to NCI (878,833) (878,833) (878,833) $ $ $ $ Net loss (income) for the period ended December 31, 2025 1,570 359,961 150,513 512,044 Net loss attributable to NCI 785 179,981 75,257 256,023 $ $ $ $ Net cash used in operating activities (19,370) (19,370) (19,370) Net cash used in investing activities - - - Net cash provided by financing activities 69,397 69,397 69,397 Net increase in cash 50,027 50,027 50,027 13. SUBSEQUENT EVENTS On January 15, 2026, the Company announced that it has closed the first tranche of its previously announced non-brokered private placement (the “Offering”) for gross proceeds of $250,000. The first tranche consisted of the issuance of 2,500,000 common shares at a price of $0.10 per share, and was fully subscribed by Andrew Shore, an existing insider of the Company and the CEO and founder of WERD Studios. - 13 -