CAPTOR CAPITAL CORP.
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
THREE MONTHS ENDED JUNE 30, 2022
(EXPRESSED IN CANADIAN DOLLARS)
(UNAUDITED)
Notice To Reader
The accompanying unaudited condensed interim consolidated financial statements of the Company have been prepared by and are the responsibility of management. The unaudited condensed interim consolidated financial statements have not been reviewed by the Company's auditors.
CAPTOR CAPITAL CORP.
Condensed Interim Consolidated Statements of Financial Position
(Expressed in Canadian Dollars)
Unaudited
As at | As at | |||
June 30, | March 31, | |||
2022 | 2022 | |||
ASSETS | ||||
Current | $ | 20,260,949 | ||
Cash and cash equivalents | $ | 20,318,036 | ||
Amounts receivable and prepaid expenses (Note 4) | 3,644,267 | 3,187,818 | ||
Inventory | 2,189,308 | 2,038,449 | ||
Investments at fair value (Note 8) | 2,081,834 | 2,199,576 | ||
Non-current | 28,176,358 | 27,743,879 | ||
930,326 | ||||
Amounts receivable and prepaid expenses (Note 4) | 895,143 | |||
Right-of-use assets (Note 5) | 6,910,624 | 7,178,662 | ||
Property and equipment (Note 6) | 3,194,791 | 3,200,850 | ||
Goodwill (Note 7) | 7,868,864 | 7,574,881 | ||
Intangibles (Note 7) | 9,929,917 | 9,823,108 | ||
$ | 57,010,880 | $ | 56,416,523 | |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||
Liabilities | ||||
Current | $ | 8,099,432 | ||
Accounts payable and accrued liabilities (Note 17) | $ | 6,799,132 | ||
Loans and notes payable (Note 9(i)) | 160,960 | 156,088 | ||
Promissory note payable (Note 9(ii)) | 49,533 | 221,548 | ||
Lease liabilities (Note 10) | 1,151,705 | 1,066,886 | ||
Income tax payable | 2,472,354 | 2,397,303 | ||
Non-current | 11,933,984 | 10,640,957 | ||
107,307 | ||||
Loans and notes payable (Note 9(i)) | 143,081 | |||
Promissory note payable (Note 9(ii)) | 26,191 | 25,398 | ||
Lease liabilities (Note 10) | 6,983,702 | 7,071,181 | ||
Deferred tax liability | 2,224,698 | 2,157,368 | ||
21,275,882 | 20,037,985 | |||
Shareholders' Equity | 116,143,585 | |||
Share capital (Note 11) | 116,143,585 | |||
Contributed surplus | 32,512,168 | 32,512,168 | ||
Accumulated other comprehensive loss | (2,727,030) | (3,319,724) | ||
Deficit | (118,594,420) | (117,471,915) | ||
27,334,303 | 27,864,114 | |||
Non-controlling interest (Note 3) | 8,400,695 | 8,514,424 | ||
35,734,998 | 36,378,538 | |||
$ | 57,010,880 | $ | 56,416,523 |
NATURE OF OPERATIONS (Note 1)
SUBSEQUENT EVENT (Note 19)
The accompanying notes are an integral part of these consolidated financial statements.
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CAPTOR CAPITAL CORP.
Condensed Interim Consolidated Statements of Loss and Comprehensive Loss
(Expressed in Canadian Dollars)
Unaudited
Three Months Ended | ||||
June 30, | ||||
2022 | 2021 | |||
Sales, net of excise tax | $ | 11,072,809 | $ | 6,769,946 |
Cost of sales | 7,228,034 | 4,714,148 | ||
Gross profit | 3,844,775 | 2,055,798 | ||
Expenses | 4,800,136 | |||
General and administrative expenses (Note 15) | 3,216,202 | |||
Foreign exchange loss | (21,112) | 20,032 | ||
Interest income | (15,528) | (5,105) | ||
Amortization of intangible assets (Note 7) | 199,770 | 434,143 | ||
Total expenses | (4,963,266) | (3,665,272) | ||
Net loss for the period before other items: | (1,118,491) | (1,609,474) | ||
Realized gain on investments at fair value | - | 347,742 | ||
Unrealized loss on investments at fair value | (117,743) | (514,237) | ||
Loss on write-off of property and equipment (Note 6) | - | (28,095) | ||
Net loss before income taxes | (1,236,234) | (1,804,064) | ||
Net loss for the period | (1,236,234) | (1,804,064) | ||
Other comprehensive (loss) income | ||||
Items that may be reclassified subsequently: | 592,694 | |||
Foreign currency translation adjustment | (1,412,138) | |||
592,694 | (1,412,138) | |||
Comprehensive loss for the period | $ | (643,540) | $ | (3,216,202) |
Net loss attributable to: | $ | (1,122,505) | ||
Shareholders of the Company | $ | (1,513,598) | ||
Non-controlling interest | (113,729) | (290,466) | ||
$ | (1,236,234) | $ | (1,804,064) | |
Loss per share - basic and diluted (Note 14) | $ | (0.02) | $ | (0.03) |
The accompanying notes are an integral part of these consolidated financial statements.
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CAPTOR CAPITAL CORP.
Condensed Interim Consolidated Statements of Cash Flows
(Expressed in Canadian Dollars)
Unaudited
Three Months Ended | ||||
June 30, | ||||
2022 | 2021 | |||
Cash (used in) provided by: | ||||
Operating Activities | $ | (1,236,234) | ||
Net loss for the period | $ | (1,804,064) | ||
Unrealized loss (gain) on investments at fair value | 117,743 | 514,237 | ||
Realized gain on investments at fair value | - | (347,742) | ||
Foreign exchange (gain) loss | 537,610 | (236,582) | ||
Loss on write-off of property and equipment | - | 28,095 | ||
Depreciation and amortization | 833,185 | 918,941 | ||
Accretion | 293,875 | 319,337 | ||
Changes in non-cash working capital items: | (1,130,274) | |||
Amounts receivable and prepaid expenses | (1,258,432) | |||
Income tax payable | 184,077 | - | ||
Accounts payable and accrued liabilities | 1,300,300 | (306,699) | ||
Inventory | (150,859) | (199,439) | ||
749,423 | (2,372,348) | |||
Financing activities | - | |||
Issue of common shares and units, net of issue costs | 12,248,131 | |||
Lease payments | (548,173) | (565,095) | ||
(548,173) | 11,683,036 | |||
Investing Activities | (42,189) | |||
Purchase of property and equipment | (526,393) | |||
Repayments of loans and notes payable | (217,162) | (177,921) | ||
Purchase of investments at fair value | - | (225,843) | ||
Proceeds from sale of investments at fair value | - | 436,116 | ||
(259,351) | (494,041) | |||
Foreign exchange effect | 1,014 | (70,941) | ||
Change in cash and cash equivalents | (58,101) | 8,816,647 | ||
Cash and cash equivalents, beginning of period | 20,318,036 | 17,363,137 | ||
Cash and cash equivalents, end of period | $ | 20,260,949 | $ | 26,108,843 |
SUPPLEMENTAL INFORMATION: | $ | 15,528 | ||
Interest received | $ | 5,105 |
The accompanying notes are an integral part of these consolidated financial statements.
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CAPTOR CAPITAL CORP.
Condensed Interim Consolidated Statements of Changes in Shareholders' Equity
(Expressed in Canadian Dollars)
Unaudited
Accumulated | |||||||||||
Other | |||||||||||
Share | Contributed | Comprehensive | Non-controlling | ||||||||
Capital | Surplus | Loss | Deficit | Interest | Total | ||||||
Balance, March 31, 2021 | $ | 103,604,649 | $ | 29,528,620 | $ | (3,254,325) | $ (103,021,501) | $ | 12,465,055 | $ | 39,322,498 |
Common shares issued for private placement | 12,160,818 | - | - | - | - | 12,160,818 | |||||
Cost of issue | (32,687) | - | - | - | - | (32,687) | |||||
Common shares issued for exercise of options | 214,800 | (94,800) | - | - | - | 120,000 | |||||
Net comprehensive loss for the period | - | - | (1,412,138) | (1,513,598) | (290,466) | (3,216,202) | |||||
Balance, June 30, 2021 | $ | 115,947,580 | $ | 29,433,820 | $ | (4,666,463) | $ (104,535,099) | $ | 12,174,589 | $ | 48,354,427 |
Balance, March 31, 2022 | $ | 116,143,585 | $ | 32,512,168 | $ | (3,319,724) | $ (117,471,915) | $ | 8,514,424 | $ | 36,378,538 |
Net comprehensive loss for the period | - | - | 592,694 | (1,122,505) | (113,729) | (643,540) | |||||
Balance, June 30, 2022 | $ | 116,143,585 | $ | 32,512,168 | $ | (2,727,030) | $ (118,594,420) | $ | 8,400,695 | $ | 35,734,998 |
The accompanying notes are an integral part of these consolidated financial statements.
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Captor Capital Corp. published this content on 29 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 September 2022 19:09:05 UTC.