SEDAR Interim Financial Statements

[
  {
    "companyName": "Unisync Corp.",
    "reportingPeriodEnd": "2025-12-31",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cash": 1286362,
      "tradeAndOtherReceivables": 10500502,
      "inventory": 40539498,
      "prepaidExpensesAndDeposits": 2655603,
      "totalCurrentAssets": 54981965,
      "propertyPlantAndEquipment": 6670056,
      "rightOfUseAssets": 9553490,
      "deferredTaxAsset": 6622801,
      "intangibleAssets": 1183026,
      "goodwill": 6384797,
      "totalAssets": 85396135,
      "operatingLoan": 19327463,
      "tradePayablesAndAccruedLiabilities": 7491813,
      "deferredRevenue": 13166048,
      "mortgageLoansCurrent": 445599,
      "currentPortionOfLongTermLeaseLiabilities": 1966369,
      "dueToMinorityPartner": 1249500,
      "totalCurrentLiabilities": 43646792,
      "mortgageLoansLongTerm": 15416850,
      "longTermLeaseLiabilities": 10872570,
      "totalLiabilities": 69936212,
      "shareCapital": 30447488,
      "shareBasedPaymentsReserve": 2303232,
      "deficit": -17193555,
      "equityAttributableToShareholders": 15557165,
      "deficitAttributableToMinorityPartner": -97242,
      "totalEquity": 15459923,
      "totalLiabilitiesAndEquity": 85396135,
      "cashPerShare": 0.0677,
      "workingCapitalPerShare": 0.5955
    },
    "incomeStatement": {
      "revenue": 20922751,
      "directExpenses": 15109166,
      "generalAndAdministrativeExpenses": 3123158,
      "depreciationAndAmortization": 850963,
      "operatingIncome": 1839464,
      "interestExpense": 697455,
      "shareBasedPayment": 53060,
      "foreignExchangeGainsLosses": -149024,
      "netIncomeLossBeforeIncomeTaxes": 1237973,
      "incomeTaxExpenseRecovery": 358139,
      "netIncomeLoss": 879834,
      "attributableToShareholders": 879512,
      "minorityPartner": 322,
      "basicEarningsPerShare": 0.05,
      "dilutedEarningsPerShare": 0.05,
      "weightedAverageSharesOutstandingBasic": 19012229,
      "weightedAverageSharesOutstandingDiluted": 19012229
    },
    "cashFlowStatement": {
      "netIncomeLoss": 879834,
      "interestExpense": 697455,
      "incomeTaxExpenseRecovery": 358139,
      "shareBasedPayment": 53060,
      "depreciationAndAmortization": 850963,
      "changesInTradeAndOtherReceivables": -611708,
      "changesInInventory": -484634,
      "changesInPrepaidExpensesAndDeposits": -530053,
      "changesInTradePayablesAndAccruedLiabilities": -345087,
      "changesInDeferredRevenue": -78386,
      "netCashFromOperatingActivitiesBeforeTaxes": 789583,
      "incomeTaxesPaid": -9486,
      "netCashFromOperatingActivities": 780097,
      "increaseInOperatingLoan": 932914,
      "mortgageLoansRepayments": -109376,
      "repaymentOfLeaseLiabilities": -637857,
      "interestPaid": -507239,
      "distributionsToMinorityPartner": 0,
      "netCashUsedInFinancingActivities": -321558,
      "effectsOfForeignExchangeRatesOnCash": -33543,
      "increaseInCash": 424996,
      "cashBeginningOfYear": 861366,
      "cashEndOfYear": 1286362
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Joint Venture",
        "description": "90% interest in Peerless Garments LP",
        "ownershipPercentage": 90,
        "value": null,
        "notes": "Manufactures harsh weather outerwear for the Canadian military and other government agencies."
      },
      {
        "type": "Marketable Securities",
        "description": "Letter of guarantee facility",
        "ownershipPercentage": null,
        "value": 985500,
        "notes": "Outstanding letters of credit as at December 31, 2025."
      }
    ],
    "shareStructure": {
      "authorizedShares": "Unlimited Common shares; Unlimited Class A preferred shares issuable in series",
      "issuedShares": 19012229,
      "classesOfShares": ["Common shares", "Class A preferred shares"],
      "warrants": [],
      "options": [
        {
          "number": 300000,
          "exercisePrice": 2.9,
          "expiryDate": null
        },
        {
          "number": 325000,
          "exercisePrice": 2.0,
          "expiryDate": null
        },
        {
          "number": 750000,
          "exercisePrice": 1.3,
          "expiryDate": null
        }
      ],
      "rightsConvertibleInstruments": null
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "2025": {
          "shareBasedPayment": 53060
        },
        "2024": {
          "shareBasedPayment": 0
        }
      },
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "Company with two Board members in common",
          "description": "Rent for head office location",
          "amount": 7317,
          "period": "2025"
        },
        {
          "counterparty": "Minority partner in Peerless (member of management)",
          "description": "Income allocation",
          "amount": 322,
          "period": "2025"
        },
        {
          "counterparty": "Minority partner in Peerless (member of management)",
          "description": "Distribution",
          "amount": 0,
          "period": "2025"
        }
      ]
    },
    "subsequentEvents": []
  }
]