SEDAR Interim Financial Statements

[
  {
    "companyName": "CROWN CAPITAL PARTNERS INC.",
    "reportingPeriodEnd": "2025-12-31",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cash": 99,
      "accountsReceivable": 109,
      "prepaidExpenses": 0,
      "inventory": 0,
      "assetsHeldForSale": 11319,
      "netInvestmentInLeasedDistributedPowerEquipment": 5649,
      "investmentsInAssociates": 3812,
      "customerContracts": 1100,
      "propertyAndEquipment": 71672,
      "propertyAndEquipmentUnderDevelopmentAndRelatedDeposits": 26378,
      "otherAssets": 0,
      "totalCurrentAssets": 11527,
      "totalNonCurrentAssets": 108011,
      "totalAssets": 119538,
      "accountsPayableAndAccruedLiabilities": 0,
      "deferredRevenue": 0,
      "currentPortionOfLongTermDebt": 0,
      "totalCurrentLiabilities": 57153,
      "mortgagePayable": 0,
      "leaseObligations": 0,
      "creditFacilities": 16578,
      "debentures": 19936,
      "newSubordinatedDebentures": 1447,
      "longTermDebtPayableToDirector": 0,
      "deferredCompensationLiability": 64,
      "otherLiabilities": 0,
      "totalNonCurrentLiabilities": 42381,
      "totalLiabilities": 99534,
      "shareCapital": 0,
      "contributedSurplus": 0,
      "retainedEarnings": 0,
      "accumulatedOtherComprehensiveIncome": 0,
      "totalEquityAttributableToShareholders": 0,
      "nonControllingInterests": 17004,
      "totalEquity": 20004,
      "totalLiabilitiesAndEquity": 119538,
      "cashPerShare": null,
      "workingCapitalPerShare": null
    },
    "incomeStatement": {
      "revenues": 98415,
      "costOfDistributionServicesRevenue": 27342,
      "costOfNetworkServicesRevenue": 27005,
      "grossProfit": 44068,
      "shareOfEarningsLossesFromInvestmentsInAssociates": -33,
      "performanceBonusRecovery": 0,
      "impairmentOfAssetsHeldForSale": 0,
      "impairmentOfPropertyAndEquipmentUnderDevelopmentAndRelatedDeposits": 0,
      "recoveryOfImpairmentOfPropertyAndEquipmentUnderDevelopmentAndRelatedDeposits": -57,
      "remeasurementOfFinancialInstruments": 80,
      "shareBasedCompensationExpense": -218,
      "depreciationAndAmortization": 12518,
      "financingCosts": 9358,
      "otherExpenses": 0,
      "incomeLossBeforeIncomeTaxes": -749,
      "incomeTaxExpenseCurrent": 3131,
      "incomeTaxExpenseRecoveryDeferred": 0,
      "netIncomeLoss": -3880,
      "netIncomeLossAttributableToShareholders": -2788,
      "netIncomeLossAttributableToNonControllingInterests": -1092,
      "weightedAverageSharesOutstandingBasic": 0,
      "weightedAverageSharesOutstandingDiluted": 0,
      "earningsPerShareBasic": null,
      "earningsPerShareDiluted": null
    },
    "cashFlowStatement": {
      "netIncomeLoss": -3880,
      "depreciationAndAmortization": 12518,
      "shareOfEarningsLossesFromInvestmentsInAssociates": -33,
      "performanceBonusRecovery": 0,
      "impairmentOfAssetsHeldForSale": 0,
      "impairmentOfPropertyAndEquipmentUnderDevelopmentAndRelatedDeposits": 0,
      "recoveryOfImpairmentOfPropertyAndEquipmentUnderDevelopmentAndRelatedDeposits": -57,
      "remeasurementOfFinancialInstruments": 80,
      "shareBasedCompensationExpense": -218,
      "gainOnDisposalOfAssets": -25,
      "changeInNonCashWorkingCapital": 12223,
      "cashFromUsedInOperatingActivities": 20588,
      "proceedsFromDisposalOfAssets": 3607,
      "additionsToPropertyAndEquipment": -10190,
      "additionsToPropertyAndEquipmentUnderDevelopmentAndRelatedDeposits": -8070,
      "netInvestmentInLeasedDistributedPowerEquipment": -593,
      "contributionsToInvestmentsInAssociates": -946,
      "distributionsFromInvestmentsInAssociates": 94,
      "cashFromUsedInInvestingActivities": -14098,
      "proceedsFromIssuanceOfCommonShares": 126,
      "proceedsFromIssuanceOfDebentures": 1500,
      "repaymentOfDebentures": -1500,
      "repaymentOfCreditFacilities": -1388,
      "distributionsToNonControllingInterests": -1705,
      "cashFromUsedInFinancingActivities": -2967,
      "effectOfForeignExchangeRateMovementsOnCash": -19,
      "netIncreaseDecreaseInCash": 3504,
      "cashBeginningOfPeriod": 0,
      "cashEndOfPeriod": 99
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Investment in Associate",
        "description": "Crown Capital Partner Funding, LP (Crown Partners Fund)",
        "ownershipPercentage": 28,
        "value": 2401,
        "notes": "Limited partnership; investment in loans to mid-market Canadian corporations; equity method."
      },
      {
        "type": "Investment in Associate",
        "description": "Inuknet Communications Inc.",
        "ownershipPercentage": 49,
        "value": 1411,
        "notes": "Private corporation; provides internet services in the Canadian Arctic; equity method."
      },
      {
        "type": "Investment in Associate",
        "description": "PenEquity Realty Corporation (PRC)",
        "ownershipPercentage": null,
        "value": 0,
        "notes": "Acquired Oct 1, 2025; owns land and building in London, ON; equity method; unrecognized losses of $160."
      },
      {
        "type": "Net Investment in Leased Distributed Power Equipment",
        "description": "Finance lease contracts",
        "ownershipPercentage": null,
        "value": 5649,
        "notes": "Net of allowance for credit loss of $409; current portion $218."
      },
      {
        "type": "Assets Held for Sale",
        "description": "Distributed power equipment and real estate property",
        "ownershipPercentage": null,
        "value": 11319,
        "notes": "Stated at lower of carrying amount and estimated fair value less costs of disposal."
      }
    ],
    "shareStructure": {
      "authorizedShares": "Unlimited common shares",
      "issuedShares": null,
      "classesOfShares": ["Common shares"],
      "warrants": [
        {
          "number": 75000,
          "exercisePrice": 7,
          "expiryDate": "2026-12-29"
        }
      ],
      "options": [
        {
          "number": 282921,
          "exercisePrice": 10,
          "expiryDate": "2026-12-31"
        }
      ],
      "rightsConvertibleInstruments": "Insider Convertible Debentures convertible into common shares from June 30, 2026 at prices ranging from $2.50 to $1.00 depending on conversion date."
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "2025": {
          "salaries": null,
          "shareBased": -218,
          "bonus": null,
          "total": null
        },
        "2024": {
          "salaries": null,
          "shareBased": -715,
          "bonus": null,
          "total": null
        }
      },
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "Director",
          "description": "Private placement of 84,000 common shares at $1.50 per share for gross proceeds of $126. Director used a $126 cash commitment fee paid by the Corporation (at a 40% discount to amount owed) to purchase the shares.",
          "amount": 126,
          "period": "2025"
        },
        {
          "counterparty": "President and CEO",
          "description": "Issued 132,000 common shares in settlement of annual performance incentives of $145 payable, at a deemed price of $1.10 per share.",
          "amount": 145,
          "period": "2025"
        },
        {
          "counterparty": "Directors",
          "description": "Issued 173,186 common shares in lieu of payment for DDSUs held, at a price of $0.90 per share.",
          "amount": 274,
          "period": "2025"
        },
        {
          "counterparty": "Insider Debentureholders (directors)",
          "description": "Private placement of New Subordinated Debentures ($1,500 principal) to directors.",
          "amount": 1500,
          "period": "2025"
        }
      ]
    },
    "subsequentEvents": [
      {
        "eventDate": "2026-02-17",
        "description": "Financial statements authorized for issue by Board of Directors.",
        "impactValue": null
      },
      {
        "eventDate": null,
        "description": "Corporation had not paid scheduled interest payment of $3,242 due on Dec 31, 2025 on Debentures, constituting an event of default since Jan 30, 2026. Holders entitled to request immediate repayment of $23,242 but had not done so as of Feb 17, 2026.",
        "impactValue": -3242
      },
      {
        "eventDate": null,
        "description": "Corporation had not paid scheduled interest payment of $75 due on Dec 31, 2025 on New Subordinated Debentures, constituting an event of default since Jan 30, 2026. Holders entitled to request immediate repayment of $1,575 but had not done so as of Feb 17, 2026.",
        "impactValue": -75
      }
    ]
  }
]