SEDAR Interim Financial Statements

[
  {
    "companyName": "INEO Tech Corp.",
    "reportingPeriodEnd": "2025-12-31",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cash": 1919567,
      "accountsAndOtherReceivables": 235564,
      "dueFromRelatedParty": 209768,
      "prepaidExpenses": 44555,
      "inventory": 231026,
      "totalCurrentAssets": 2640480,
      "equipment": 1562927,
      "rightOfUseAsset": 708733,
      "totalNonCurrentAssets": 2271660,
      "totalAssets": 4912140,
      "payablesAndAccruedLiabilities": 2329727,
      "loansPayableToRelatedParties": 212500,
      "interestPayable": 328992,
      "notePayable": 951498,
      "currentPortionOfBankLoanPayable": 62217,
      "dueToRelatedParties": 130690,
      "currentPortionOfLeaseLiability": 93294,
      "governmentGrant": 120000,
      "totalCurrentLiabilities": 4228918,
      "convertibleDebentures": 93955,
      "nonCurrentPortionOfBankLoanPayable": 215677,
      "nonCurrentPortionOfLeaseLiability": 617312,
      "totalNonCurrentLiabilities": 926944,
      "totalLiabilities": 5155862,
      "shareCapital": 21988315,
      "reserves": 1494940,
      "equityConversionFeatureOnConvertibleDebentures": 92140,
      "deficit": -23819117,
      "totalShareholdersEquityDeficiency": -243722,
      "totalLiabilitiesAndShareholdersEquity": 4912140,
      "cashPerShare": 0.0112,
      "workingCapitalPerShare": -0.0092
    },
    "incomeStatement": {
      "sales": 459156,
      "costOfSales": -263467,
      "grossProfit": 195689,
      "generalAndAdministrative": -1014123,
      "selling": -422374,
      "researchAndDevelopment": -432333,
      "totalExpenses": -1868830,
      "netIncomeLossBeforeOtherIncomeExpenses": -1673141,
      "interestExpenseNet": -183125,
      "foreignExchangeGainLoss": -22105,
      "miscellaneousIncomeExpensesNet": -20106,
      "totalOtherIncomeExpenses": -225336,
      "lossAndComprehensiveLoss": -1898477,
      "weightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted": 171227235,
      "basicAndDilutedLossPerShare": -0.011
    },
    "cashFlowStatement": {
      "netLossForThePeriod": -1898477,
      "amortizationOnEquipmentAndIntangibles": 255758,
      "shareBasedPayment": 155682,
      "interestExpense": 189131,
      "accretionOnConvertibleDebentures": 6237,
      "amortizationOfRightOfUseAsset": 50739,
      "interestIncomeOnNotesReceivable": 0,
      "derecognitionOfAssetWriteOff": 42052,
      "badDebtsExpense": 0,
      "changeInAccountsAndOtherReceivables": -30005,
      "changeInDueFromRelatedParty": -3143,
      "changeInPrepaidExpenses": -37032,
      "changeInInventory": 35986,
      "changeInPayablesAndAccruedLiabilities": 498092,
      "netCashUsedInOperatingActivities": -734980,
      "purchaseOfEquipment": -40361,
      "netCashUsedInInvestingActivities": -40361,
      "loanReceived": 0,
      "repaymentOfBankLoan": -30974,
      "interestPaid": -27074,
      "paymentsForLeaseObligations": -61542,
      "advancesFromRelatedParties": 130690,
      "repaymentToRelatedParties": -12036,
      "proceedsFromIssuanceOfShares": 2584935,
      "netCashProvidedByUsedInFinancingActivities": 2583999,
      "changeInCash": 1808658,
      "cashBeginningOfPeriod": 110909,
      "cashEndOfPeriod": 1919567
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Equipment",
        "description": "Furniture and Equipment, R&D Equipment, Computer Hardware, Motor Vehicle, Welcoming Pedestals - Installed Units, WIP Installed Units",
        "ownershipPercentage": null,
        "value": 1562927,
        "notes": "Net book value as at December 31, 2025. Includes additions, transfers, and derecognition/write-offs during the period."
      },
      {
        "type": "Right-of-Use Asset",
        "description": "Leased premises in Surrey, British Columbia",
        "ownershipPercentage": null,
        "value": 708733,
        "notes": "Net book value as at December 31, 2025. Relates to a new 5-year lease agreement commencing November 1, 2025."
      }
    ],
    "shareStructure": {
      "authorizedShares": "Unlimited number of common shares without par value",
      "issuedShares": 324691368,
      "classesOfShares": ["Common shares"],
      "warrants": [
        {
          "number": 286116,
          "exercisePrice": 0.09,
          "expiryDate": "2027-01-31"
        },
        {
          "number": 56470,
          "exercisePrice": 0.09,
          "expiryDate": "2027-02-16"
        }
      ],
      "options": [
        {
          "number": 175863,
          "exercisePrice": 0.09,
          "expiryDate": "2028-01-08"
        },
        {
          "number": 2250000,
          "exercisePrice": 0.22,
          "expiryDate": "2030-04-15"
        },
        {
          "number": 500000,
          "exercisePrice": 0.35,
          "expiryDate": "2030-04-15"
        },
        {
          "number": 100000,
          "exercisePrice": 0.05,
          "expiryDate": "2030-10-18"
        },
        {
          "number": 225000,
          "exercisePrice": 0.05,
          "expiryDate": "2031-06-18"
        },
        {
          "number": 1965000,
          "exercisePrice": 0.11,
          "expiryDate": "2033-02-28"
        },
        {
          "number": 530000,
          "exercisePrice": 0.05,
          "expiryDate": "2033-09-18"
        },
        {
          "number": 1125000,
          "exercisePrice": 0.05,
          "expiryDate": "2034-08-28"
        },
        {
          "number": 7550000,
          "exercisePrice": 0.07,
          "expiryDate": "2035-02-03"
        },
        {
          "number": 300000,
          "exercisePrice": 0.05,
          "expiryDate": "2035-05-27"
        }
      ],
      "rightsConvertibleInstruments": "Convertible debentures with equity conversion feature of $92,140. Principal balance $108,000 as at Dec 31, 2025. Convertible at $0.085/$0.10 per share."
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "threeMonthsEndedDec312025": {
          "remunerationAndBenefits": 125000,
          "shareBasedPayment": 63954,
          "total": 188954
        },
        "sixMonthsEndedDec312025": {
          "remunerationAndBenefits": 250000,
          "shareBasedPayment": 126143,
          "total": 376143
        },
        "threeMonthsEndedDec312024": {
          "remunerationAndBenefits": 106250,
          "shareBasedPayment": 24035,
          "total": 130285
        },
        "sixMonthsEndedDec312024": {
          "remunerationAndBenefits": 312500,
          "shareBasedPayment": 49997,
          "total": 362497
        }
      },
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "Officers of the Company",
          "description": "Loans payable to related parties",
          "amount": 212500,
          "period": "As at December 31, 2025"
        },
        {
          "counterparty": "Officers of the Company",
          "description": "Advances received from related parties",
          "amount": 130690,
          "period": "Six months ended December 31, 2025"
        },
        {
          "counterparty": "Related party by virtue of common director and significant influence",
          "description": "Loss prevention revenue",
          "amount": 3143,
          "period": "Six months ended December 31, 2025"
        },
        {
          "counterparty": "Related party",
          "description": "Trade receivables from related party",
          "amount": 209768,
          "period": "As at December 31, 2025"
        }
      ]
    },
    "subsequentEvents": [
      {
        "eventDate": "2026-01-08",
        "description": "A shareholder previously considered a related party by virtue of significant influence reduced its ownership interest to a minority position. As a result, the shareholder is no longer assessed to have significant influence over the Company and is no longer considered a related party.",
        "impactValue": null
      },
      {
        "eventDate": "2026-01-21",
        "description": "INEO Solutions Inc. issued a notice of material breach to Bon Intelligence Inc. under the license agreement for failing to meet payment and reporting obligations. The Company is evaluating the potential impact, including possible adjustment of $206,625 of previously recognized revenue during the year ended June 30, 2025.",
        "impactValue": -206625
      }
    ]
  }
]