SEDAR Interim Financial Statements

[
  {
    "companyName": "Wellfield Technologies Inc.",
    "reportingPeriodEnd": "2025-09-30",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cashAndCashEquivalents": 58519,
      "receivables": 143328,
      "prepaidExpensesAndDeposits": 190694,
      "cryptocurrencyHeldForOperatingActivities": 26960,
      "incomeTaxesReceivable": 255225,
      "totalCurrentAssets": 674726,
      "propertyAndEquipment": 9755,
      "totalAssets": 684481,
      "accountsPayableAndAccruedLiabilities": 11905093,
      "loansInCryptocurrency": 3992087,
      "incomeTaxesPayable": 569869,
      "promissoryNotesPayable": 696000,
      "convertibleDebentures": 9434984,
      "nonConvertibleDebenture": 2401454,
      "totalLiabilities": 28999487,
      "shareCapital": 66673770,
      "contributedSurplus": 8480092,
      "warrantReserve": 4519705,
      "deficit": -109712609,
      "accumulatedOtherComprehensiveIncome": 1724036,
      "totalEquity": -28315006,
      "totalLiabilitiesAndEquity": 684481,
      "cashPerShare": 0.0003,
      "workingCapitalPerShare": -0.1116
    },
    "incomeStatement": {
      "revenue": 1351007,
      "costOfRevenue": 143989,
      "grossProfit": 1207018,
      "researchAndDevelopment": 605208,
      "growthAndMarketing": 138672,
      "operations": 0,
      "generalAndAdministrative": 1626829,
      "amortizationAndDepreciation": 2843,
      "operatingExpenses": 2373552,
      "operatingLoss": -1166534,
      "fairValueAdjustmentsOnFinancialInstruments": -595034,
      "otherIncomeLoss": 202992,
      "financeExpense": -211505,
      "exchangeGainLoss": -1563968,
      "lossBeforeIncomeTaxes": -3334049,
      "incomeTaxExpenseRecovery": 0,
      "netLoss": -3334049,
      "foreignCurrencyTranslationAdjustment": 355741,
      "totalComprehensiveLoss": -2978308,
      "weightedAverageSharesOutstanding": 205319.0140,
      "netLossPerShareBasicAndDiluted": -0.02
    },
    "cashFlowStatement": {
      "netLoss": -3334049,
      "depreciationOfPropertyAndEquipment": 2843,
      "amortizationOfIntangibleAssets": 0,
      "unrealizedForeignExchangeLossGain": 1038934,
      "lossOnDispositionOfEquipment": 1885,
      "gainLossOnSettlementOfLiabilities": -168123,
      "fairValueAdjustmentsOnFinancialInstruments": 595034,
      "gainOnSaleOfSharesOfBosonicInc": -100000,
      "shareBasedPayments": 18577,
      "accretionExpense": 0,
      "nonCashTransactionCosts": 0,
      "incomeTaxRecovery": 0,
      "changesInReceivables": 22156,
      "changesInPrepaidExpensesAndDeposits": -36669,
      "changesInCryptocurrencyHeldForOperatingActivities": -7358,
      "changesInAccountsPayableAndAccruedLiabilities": 1098689,
      "cashTaxesRefunded": 39632,
      "cashUsedInOperatingActivities": -828449,
      "proceedsFromSaleOfSharesOfBosonicInc": 100000,
      "cashFromInvestingActivities": 100000,
      "proceedsFromPromissoryNotes": 696000,
      "proceedsFromPrivatePlacement": 0,
      "nonConvertibleDebentureRepayment": 0,
      "cashFromFinancingActivities": 696000,
      "effectOfForeignExchangeRateChangesOnCashAndCashEquivalents": 19594,
      "netIncreaseDecreaseInCashAndCashEquivalents": -12855,
      "cashAndCashEquivalentsBeginning": 71374,
      "cashAndCashEquivalentsEnding": 58519
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Investment",
        "description": "Sale of cryptocurrency wallet software and IP to Ontario-based corporation for $30M consideration ($2.4M cash, $27.6M special shares). Joint venture established with Purchaser (Company holds 40% interest).",
        "ownershipPercentage": 40,
        "value": 30000000,
        "notes": "Subsequent event - agreement entered into after period end."
      },
      {
        "type": "Marketable Securities",
        "description": "Cryptocurrency held for operating activities",
        "ownershipPercentage": null,
        "value": 26960,
        "notes": "BTC denominated"
      }
    ],
    "shareStructure": {
      "authorizedShares": "Unlimited common shares, Unlimited preferred shares",
      "issuedShares": 207431270,
      "classesOfShares": ["Common shares", "Preferred shares"],
      "warrants": [
        {
          "number": 1777777,
          "exercisePrice": 0.09,
          "expiryDate": "2027-07-02"
        },
        {
          "number": 1904762,
          "exercisePrice": 0.09,
          "expiryDate": "2027-03-13"
        },
        {
          "number": 30166667,
          "exercisePrice": 0.45,
          "expiryDate": "2026-02-08"
        }
      ],
      "options": [],
      "rightsConvertibleInstruments": "Promissory notes with mandatory conversion provisions into common shares of Tradewind Markets, Inc. upon maturity (Mar-Jul 2026) or earlier if permitted."
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "threeMonthsEndedSep30_2025": {
          "wagesSalariesFeesAndShortTermBenefits": 67400
        },
        "threeMonentsEndedSep30_2024": {
          "wagesSalariesFeesAndShortTermBenefits": 124900
        },
        "sixMonthsEndedSep30_2025": {
          "wagesSalariesFeesAndShortTermBenefits": 134800
        },
        "sixMonthsEndedSep30_2024": {
          "wagesSalariesFeesAndShortTermBenefits": 249800
        }
      },
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "Key Management Personnel",
          "description": "Amounts owed included in accounts payable and accrued liabilities",
          "amount": 1161558,
          "period": "As at September 30, 2025"
        },
        {
          "counterparty": "Key Management Personnel",
          "description": "Amounts owed included in loans in cryptocurrencies",
          "amount": 381042,
          "period": "As at September 30, 2025"
        },
        {
          "counterparty": "Related Party",
          "description": "Related party loan (BTC)",
          "amount": 317455,
          "period": "As at September 30, 2025"
        },
        {
          "counterparty": "Related Party",
          "description": "Related party loan (ETH)",
          "amount": 63587,
          "period": "As at September 30, 2025"
        }
      ]
    },
    "subsequentEvents": [
      {
        "eventDate": "After September 30, 2025",
        "description": "Entered agreement to sell cryptocurrency wallet software and related IP to Ontario-based corporation for $30M consideration ($2.4M cash, $27.6M special shares). Established joint venture with Purchaser (Company holds 40% interest).",
        "impactValue": 30000000
      },
      {
        "eventDate": "October 2025",
        "description": "Converted existing short-term loans (in accounts payable) into promissory notes payable with aggregate principal of US$270,000. Same conversion terms as other promissory notes.",
        "impactValue": null
      },
      {
        "eventDate": "November 2025",
        "description": "Proposed reverse take-over transaction with Leonovus Inc. expired. Conversion of all outstanding promissory notes will be through issuance of common shares of Tradewind Markets, Inc.",
        "impactValue": null
      }
    ]
  }
]