SEDAR Interim Financial Statements

[
  {
    "companyName": "Oceanic Wind Energy Inc.",
    "reportingPeriodEnd": "2025-12-31",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cash": 482233,
      "accountsReceivable": 3226,
      "prepaidExpenses": 10800,
      "totalCurrentAssets": 496259,
      "saleContractReceivableLongTerm": 431758,
      "depositNaturalResourcesCanada": 360000,
      "totalAssets": 1288017,
      "accountsPayableAndAccruedLiabilities": 20548,
      "advanceCapitalContribution": 0,
      "totalCurrentLiabilities": 20548,
      "reclamationProvisions": 446655,
      "totalLiabilities": 467203,
      "shareCapital": 49219671,
      "contributedSurplus": 2736696,
      "deficit": -51144813,
      "shareholdersEquityAttributableToCompanyOwners": 811554,
      "nonControllingInterest": 9260,
      "totalShareholdersEquity": 820814,
      "totalLiabilitiesAndShareholdersEquity": 1288017,
      "cashPerShare": 0.0055,
      "workingCapitalPerShare": 0.0054
    },
    "incomeStatement": {
      "accretionExpense": 2741,
      "compensation": 61434,
      "consulting": 0,
      "interestAndBorrowingCosts": 0,
      "officeAndAdministration": 12473,
      "otherProjectCosts": 0,
      "publicAndCommunityRelations": 77069,
      "professionalFees": 4348,
      "regulatoryAndFilingFees": 1436,
      "travel": 10064,
      "lossFromOperatingExpenses": -169565,
      "accretionIncome": 15606,
      "gainOnSaleOfSubsidiary": 0,
      "interestIncome": 239,
      "otherIncome": 0,
      "incomeLossAndComprehensiveIncomeLossForThePeriod": -153720,
      "incomeLossAndComprehensiveIncomeLossForThePeriodAttributableEquityHoldersOfTheCompany": -115112,
      "nonControllingInterests": -38608,
      "weightedAverageNumberOfCommonSharesOutstandingBasic": 87327896,
      "weightedAverageNumberOfCommonSharesOutstandingDiluted": 87327896,
      "basicIncomeLossPerShare": -0.0013,
      "dilutedIncomeLossPerShare": -0.0013
    },
    "cashFlowStatement": {
      "incomeLossForThePeriod": -153720,
      "adjustmentsForNonCashItemsAccretionExpense": 2741,
      "adjustmentsForNonCashItemsShareBasedPayments": 25340,
      "adjustmentsForNonCashItemsAccretionIncome": -15606,
      "adjustmentsForNonCashItemsGainOnSaleOfSubsidiary": 0,
      "workingCapitalAdjustmentsAccountsReceivables": 6343,
      "workingCapitalAdjustmentsPrepaidExpenses": -9326,
      "workingCapitalAdjustmentsAccountsPayableAndAccruedLiabilities": -51524,
      "workingCapitalAdjustmentsSaleContractReceivable": 0,
      "cashFromOperatingActivities": -195752,
      "repaymentOfShareholderLoans": 0,
      "nonControllingInterestContribution": 0,
      "cashFromFinancingActivities": 0,
      "saleOfSubsidiary": 0,
      "cashFromInvestingActivities": 0,
      "changeInCash": -195752,
      "cashBeginningOfPeriod": 677985,
      "cashEndOfPeriod": 482233,
      "cashPaidForInterest": 0
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Joint Venture",
        "description": "NP B.C. Offshore Limited Partnership (LP) - Development Company",
        "ownershipPercentage": 58.3,
        "value": null,
        "notes": "The Company is the general partner and major limited partner. LP holds the Hecate Strait offshore wind project."
      },
      {
        "type": "Investment",
        "description": "Deposit with Natural Resources Canada",
        "ownershipPercentage": null,
        "value": 360000,
        "notes": "Related to asset retirement obligations for Metmast wind-monitoring equipment."
      },
      {
        "type": "Receivable",
        "description": "Sale contract receivable - long term",
        "ownershipPercentage": null,
        "value": 431758,
        "notes": "From sale of Devco to Elemental Energy Inc., due in instalments."
      }
    ],
    "shareStructure": {
      "authorizedShares": "unlimited common shares without par value",
      "issuedShares": 87327896,
      "classesOfShares": ["common shares"],
      "warrants": [],
      "options": [
        {
          "number": 689474,
          "exercisePrice": 0.095,
          "expiryDate": "2027-11-01"
        },
        {
          "number": 400000,
          "exercisePrice": 0.1,
          "expiryDate": "2029-01-24"
        },
        {
          "number": 1400000,
          "exercisePrice": 0.145,
          "expiryDate": "2030-09-30"
        },
        {
          "number": 1500000,
          "exercisePrice": 0.14,
          "expiryDate": "2031-10-24"
        },
        {
          "number": 1750000,
          "exercisePrice": 0.05,
          "expiryDate": "2032-10-26"
        },
        {
          "number": 1750000,
          "exercisePrice": 0.07,
          "expiryDate": "2035-08-21"
        }
      ],
      "rightsConvertibleInstruments": null
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "threeMonthsEndedDecember312025": {
          "wagesAndBenefits": 35862,
          "shareBasedCompensation": 25340,
          "total": 61202
        },
        "threeMonthsEndedDecember312024": {
          "wagesAndBenefits": 36079,
          "shareBasedCompensation": 0,
          "total": 36079
        }
      },
      "namedIndividuals": [
        {
          "name": "Michael O’Connor",
          "title": "CEO (Management Agreement)",
          "period": "Ongoing",
          "components": {
            "salary": 8000,
            "bonus": null,
            "total": 8000
          }
        }
      ],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "Key Management (CEO, CFO, Board)",
          "description": "Rent expense for use of home offices",
          "amount": 2550,
          "period": "three months ended December 31, 2025"
        }
      ]
    },
    "subsequentEvents": [
      {
        "eventDate": "2026-02-27",
        "description": "Financial statements approved by the Board of Directors.",
        "impactValue": null
      }
    ]
  }
]