SEDAR Interim Financial Statements

[
  {
    "companyName": "International Battery Metals Ltd.",
    "reportingPeriodEnd": "2025-12-31",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cash": 9129,
      "accountsReceivable": 474,
      "inventory": 1061,
      "otherCurrentAssets": 303,
      "totalCurrentAssets": 10967,
      "plantAndEquipmentNet": 27346,
      "intangibleAssetsNet": 2459,
      "rightOfUseAsset": 164,
      "totalAssets": 40936,
      "accountsPayable": 798,
      "accruedLiabilities": 503,
      "obligationToIssueSharesRelatedParty": null,
      "leaseObligationCurrent": 97,
      "totalCurrentLiabilities": 1398,
      "warrantLiability": 6084,
      "leaseObligationLongTerm": 70,
      "totalLiabilities": 7552,
      "shareCapital": 67530,
      "accumulatedDeficit": -34146,
      "totalShareholdersEquity": 33384,
      "totalLiabilitiesAndShareholdersEquity": 40936,
      "cashPerShare": 0.0297,
      "workingCapitalPerShare": 0.0312
    },
    "incomeStatement": {
      "serviceRevenue": 30,
      "reimbursableRevenue": -4,
      "totalRevenue": 30,
      "costOfRevenue": 22,
      "grossMargin": 8,
      "operatingCostsExcludingDepreciation": 450,
      "sellingGeneralAndAdministrativeExpensesExcludingDepreciation": 1800,
      "reimbursableExpenses": -4,
      "amortizationOfIntangibleAssets": 269,
      "depreciation": 503,
      "operatingLoss": -3014,
      "excessFairValueOfWarrantsOverPrivatePlacementProceeds": null,
      "lossOnWarrantsModification": null,
      "changeInFairValueOfWarrantLiability": 3768,
      "otherIncome": null,
      "netIncomeLossBeforeIncomeTaxProvision": 754,
      "netIncomeLoss": 754,
      "netIncomeLossAndComprehensiveLossIncomePerShareBasic": 0.00,
      "netIncomeLossAndComprehensiveIncomeLossPerShareDiluted": 0.00,
      "weightedAverageSharesOutstandingBasic": 306233,
      "weightedAverageSharesOutstandingDiluted": 310685
    },
    "cashFlowStatement": {
      "netIncomeLoss": 5420,
      "shareBasedCompensation": 542,
      "amortizationOfIntangibleAssets": 807,
      "depreciation": 1505,
      "excessOfFairValueOfWarrantsOverProceedsOfPrivatePlacement": null,
      "changeInFairValueOfWarrantLiabilities": -17939,
      "lossOnWarrantsModification": 2444,
      "changesInAccountsReceivable": -90,
      "changesInInventory": null,
      "changesInPrepaidExpenses": -31,
      "changesInLeaseLiability": 2,
      "changesInTradePayablesAndOtherLiabilities": -578,
      "netCashUsedInOperatingActivities": -7918,
      "purchaseOfEquipment": -367,
      "netCashUsedInInvestingActivities": -367,
      "proceedsFromPrivatePlacementOfSharesAndWarrants": 7000,
      "shareIssuanceCosts": -323,
      "netCashProvidedByFinancingActivities": 6677,
      "netChangeInCash": -1608,
      "beginningCashBalance": 10737,
      "endingCashBalance": 9129
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Intellectual Property",
        "description": "Patented lithium extraction technology acquired from NAL and SAL",
        "ownershipPercentage": null,
        "value": 2450,
        "notes": "Gross value $9,276k, accumulated amortization $6,826k, weighted average remaining life 2.9 years"
      },
      {
        "type": "Patents",
        "description": "Additional patents filed for lithium extraction technologies",
        "ownershipPercentage": null,
        "value": 9,
        "notes": "Gross value $11k, accumulated amortization $2k, weighted average remaining life 15.9 years"
      }
    ],
    "shareStructure": {
      "authorizedShares": "unlimited",
      "issuedShares": 316573,
      "classesOfShares": ["common shares with no par value"],
      "warrants": [
        {
          "number": 105879,
          "exercisePrice": 0.64,
          "expiryDate": null
        }
      ],
      "options": [
        {
          "number": 6499,
          "exercisePrice": 0.50,
          "expiryDate": null
        }
      ],
      "rightsConvertibleInstruments": null
    },
    "managementCompensation": {
      "currency": "USD",
      "periods": {
        "threeMonthsEndedDec312025": {
          "shareBasedCompensation": 405
        },
        "nineMonthsEndedDec312025": {
          "shareBasedCompensation": 542
        }
      },
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "Jacob Warnock (EV Metals)",
          "description": "Structuring fee paid for private placement",
          "amount": 100,
          "period": "October 30, 2025"
        },
        {
          "counterparty": "Jacob Warnock (EV Metals)",
          "description": "Structuring fees paid for 2025 Offering",
          "amount": 411.45,
          "period": "March 31, 2025 and April 11, 2025"
        },
        {
          "counterparty": "Jacob Warnock (EV Metals VI)",
          "description": "Structuring fee paid by issuing common shares",
          "amount": 238,
          "period": "June 19, 2024"
        },
        {
          "counterparty": "EV Metals VI",
          "description": "Structuring fee paid by issuing common shares",
          "amount": 322,
          "period": "May 6, 2024"
        }
      ]
    },
    "subsequentEvents": [
      {
        "eventDate": "2026-02-04",
        "description": "Granted 15,140,352 RSUs to members of management under Omnibus Plan. 2,087,683 vest on first anniversary, remainder are performance-based with targets including stock exchange listing, EBITDA targets ($25M and $50M annualized), and market capitalization targets ($750M and $1.5B over 60-day VWAP).",
        "impactValue": null
      },
      {
        "eventDate": "2026-02-23",
        "description": "Closed private placement with EV Metals 9 LLC for 26,427,053 units at $0.08 per unit, gross proceeds $2.0M. Each unit = 1 common share + 1 warrant (exercise price CAD$0.14, expiry 4 years). Paid $0.1M structuring fee to Jacob Warnock.",
        "impactValue": 2000
      }
    ]
  }
]