SEDAR Interim Financial Statements

[
  {
    "companyName": "IBC Advanced Alloys Corp.",
    "reportingPeriodEnd": "2025-12-31",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cash": 199,
      "receivables": 2663,
      "inventories": 6493,
      "prepaidExpensesAndDeposits": 326,
      "totalCurrentAssets": 9681,
      "deposits": 249,
      "nonCurrentInventories": 1803,
      "propertyPlantAndEquipment": 8457,
      "otherAssets": null,
      "totalNonCurrentAssets": 10509,
      "totalAssets": 20190,
      "lineOfCredit": 3764,
      "accountsPayableAndAccruedLiabilities": 3485,
      "factoringFacility": 2073,
      "leasesPayable": 71,
      "loansPayable": 347,
      "relatedPartyLoans": 3363,
      "unearnedRevenue": 1,
      "arbitrationAwardLiability": 1733,
      "totalCurrentLiabilities": 14842,
      "nonCurrentLoansPayable": 4306,
      "totalNonCurrentLiabilities": 4306,
      "totalLiabilities": 19148,
      "shareCapital": 63515,
      "reserves": 9748,
      "obligationToIssueShares": null,
      "foreignCurrencyTranslationReserve": 353,
      "accumulatedDeficit": -72574,
      "totalEquity": 1042,
      "totalLiabilitiesAndEquity": 20190,
      "cashPerShare": 0.0000,
      "workingCapitalPerShare": -0.0451
    },
    "incomeStatement": {
      "revenue": 9034,
      "costOfRevenue": 7306,
      "grossProfit": 1728,
      "sellingGeneralAndAdministrativeExpenses": {
        "consultingFees": 97,
        "depreciation": 61,
        "directorFeesCashPortion": 28,
        "officeAndMiscellaneous": 484,
        "professionalFees": 202,
        "publicCompanyCosts": 47,
        "rent": null,
        "salariesWagesAndManagementFees": 745,
        "shareBasedCompensationAndServices": 51,
        "travelMealsAndEntertainment": 45,
        "total": 1684
      },
      "gainLossBeforeOtherItems": 44,
      "otherIncomeExpense": {
        "foreignExchangeGainLoss": -8,
        "interestAndAccretionExpense": -961,
        "lossOnRevaluationOfDerivative": null,
        "otherIncome": null,
        "total": -969
      },
      "lossBeforeIncomeTaxes": -925,
      "incomeTaxExpense": {
        "current": -2,
        "total": -2
      },
      "netLossFromContinuingOperations": -927,
      "netLossFromDiscontinuedOperations": -255,
      "totalLoss": -1182,
      "foreignCurrencyTranslationFromContinuingOperations": -25,
      "totalComprehensiveLossFromContinuingOperations": -952,
      "totalComprehensiveLossFromDiscontinuedOperations": -255,
      "totalComprehensiveLoss": -1207,
      "netLossPerCommonShareFromContinuingOperationsBasicAndDiluted": -0.01,
      "netLossPerCommonShareFromDiscontinuedOperationsBasicAndDiluted": -0.00,
      "totalLossPerCommonShareBasicAndDiluted": -0.01,
      "weightedAverageNumberOfCommonSharesOutstandingFromContinuingOperationsBasicAndDiluted": 114292214,
      "weightedAverageNumberOfCommonSharesOutstandingFromDiscontinuedOperationsBasicAndDiluted": 114292214
    },
    "cashFlowStatement": {
      "operatingActivities": {
        "lossFromContinuingOperationsNetOfTax": -927,
        "adjustmentsFor": {
          "shareBasedCompensationAndServices": 51,
          "depreciation": 316,
          "interestAndAccretionExpense": 961,
          "total": 1328
        },
        "changesInNonCashWorkingCapitalItems": {
          "receivables": -437,
          "inventories": 416,
          "prepaidExpensesAndDeposits": -126,
          "accountsPayableAndAccruedLiabilities": 152,
          "unearnedRevenue": 5,
          "total": 10
        },
        "netCashProvidedByUsedInOperatingActivitiesFromContinuingOperations": 411,
        "netCashProvidedByOperatingActivitiesFromDiscontinuedOperations": null,
        "cashProvidedByUsedInOperatingActivities": 411
      },
      "financingActivities": {
        "netLineOfCreditAdvances": -18,
        "interestPaid": -302,
        "factoringFacilityPaymentProceeds": -158,
        "loanRepayments": -229,
        "optionsExercised": 11,
        "netCashUsedInProvidedByFinancingActivitiesFromContinuingOperations": -696,
        "netCashUsedInFinancingActivitiesFromDiscontinuedOperations": null,
        "cashFlowsUsedInFinancingActivities": -696
      },
      "investingActivities": {
        "purchaseOfPropertyPlantAndEquipment": -106,
        "netCashUsedInInvestingActivitiesFromContinuingOperations": -106,
        "netCashProvidedByInvestingActivitiesFromDiscontinuedOperations": null,
        "cashFlowsProvidedByUsedInInvestingActivities": -106
      },
      "foreignExchangeEffectOnCash": -29,
      "changeInCashDuringThePeriod": -420,
      "cashBeginningOfPeriod": 619,
      "cashEndOfPeriod": 199,
      "supplementalCashFlowInformation": {
        "interestPayments": -302,
        "incomeTaxPayments": null,
        "nonCashItems": {
          "commonSharesIssuedForServices": null,
          "commonSharesIssuedForBonus": null,
          "leasePaymentsReclassificationToAccountsPayableAndAccruedLiabilities": 455
        }
      }
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Deposits",
        "description": "Security deposit for Flatbay financing arrangement",
        "ownershipPercentage": null,
        "value": 249,
        "notes": "Recognized as a non-current deposit; would be applied against repurchase price of property if option exercised."
      }
    ],
    "shareStructure": {
      "authorizedShares": "Unlimited common and preferred shares",
      "issuedShares": 115236737,
      "classesOfShares": ["Common shares"],
      "warrants": [],
      "options": [
        {
          "number": 945000,
          "exercisePrice": 0.20,
          "expiryDate": "2026-12-01"
        },
        {
          "number": 1270000,
          "exercisePrice": 0.24,
          "expiryDate": "2027-06-07"
        },
        {
          "number": 2225000,
          "exercisePrice": 0.09,
          "expiryDate": "2030-01-27"
        },
        {
          "number": 100000,
          "exercisePrice": 0.09,
          "expiryDate": "2030-02-10"
        }
      ],
      "rightsConvertibleInstruments": null
    },
    "managementCompensation": {
      "currency": "USD",
      "periods": {
        "threeMonthsEndedDec312025": {
          "salariesWagesAndManagementFees": 272,
          "directorFees": 15,
          "shareBasedCompensationAndServices": 28,
          "total": 315
        },
        "sixMonthsEndedDec312025": {
          "salariesWagesAndManagementFees": 523,
          "directorFees": 28,
          "shareBasedCompensationAndServices": 51,
          "total": 602
        }
      },
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "Director and officer",
          "description": "Loans payable principal and interest",
          "amount": 3363,
          "period": "As at December 31, 2025"
        }
      ]
    },
    "subsequentEvents": [
      {
        "eventDate": "2026-02-17",
        "description": "Entered into a convertible security agreement for US$1,250,000 principal (US$1,500,000 face value including US$250,000 prepaid interest) with a 24-month term. The principal, less a US$62,500 closing fee, is convertible at C$0.205 per common share. Subject to exchange approval and certain conditions, the investor may provide an additional US$1,250,000 on similar terms during the term of the agreement.",
        "impactValue": 1250000
      },
      {
        "eventDate": "2026-01",
        "description": "Granted stock options to its directors, officers and employees to purchase up to an aggregate of 1,800,000 common shares in the capital of the Company, exercisable at a price of C$0.22 per share and expiring January 20, 2031 with the options vesting immediately.",
        "impactValue": null
      }
    ]
  }
]