Global Education Communities Corp.
Financial Statements (IFRS) · Amounts in CAD
Income Statement
Balance Sheet
Cash Flow
| Line Item | FY 2025Aug 31, 2025 | FY 2024Aug 31, 2024 | FY 2023Aug 31, 2023 | FY 2022Aug 31, 2022 | FY 2021Aug 31, 2021 |
|---|---|---|---|---|---|
| Total Revenue | 29.0M | 35.2M | 78.6M | 73.2M | -- |
| Operating Revenue | 29.0M | 35.2M | 78.6M | 73.2M | -- |
| Cost Of Revenue | 11.8M | 15.3M | 35.1M | 31.3M | -- |
| Gross Profit | 17.2M | 19.9M | 43.5M | 42.0M | -- |
| Selling General And Administration | 13.3M | 14.9M | 30.7M | 28.3M | -- |
| General And Administrative Expense | 12.7M | 13.9M | 26.7M | 24.4M | -- |
| Depreciation And Amortization In Income Statement | 639,000 | 727,000 | 3.8M | 3.9M | -- |
| Other Operating Expenses | -- | -- | -- | -556,000 | -3.4M |
| Operating Expense | 15.0M | 16.5M | 35.9M | 60.1M | -- |
| Operating Income | 2.2M | 3.4M | 7.7M | -18.2M | -- |
| EBIT | -24.8M | -15.4M | 11.9M | -50.6M | -- |
| Interest Expense | 9.5M | 10.1M | 13.1M | 6.4M | -- |
| Interest Expense Non Operating | 9.5M | 10.1M | 13.1M | 6.4M | -- |
| Interest Income | 381,000 | 238,000 | 393,000 | 1.6M | -- |
| Interest Income Non Operating | 381,000 | 238,000 | 393,000 | 1.6M | -- |
| Net Interest Income | -13.1M | -13.9M | -16.6M | -10.5M | -- |
| Other Income Expense | -23.5M | -15.0M | 7.7M | -28.3M | -- |
| Other Non Operating Income Expenses | -835,000 | -31,000 | -127,000 | -32,000 | -- |
| Special Income Charges | 499,000 | 10.9M | 232,000 | -37.2M | -- |
| Write Off | -- | -- | -- | -- | 1.5M |
| Gain On Sale Of Security | -17.3M | -25.8M | 7.6M | 8.9M | -- |
| Earnings From Equity Interest | -5.9M | 0.00 | -- | -- | -- |
| Pretax Income | -34.3M | -25.5M | -1.2M | -57.0M | -- |
| Tax Provision | -2.1M | -2.7M | -520,000 | -1.2M | -- |
| Tax Effect Of Unusual Items | -1.0M | -1.6M | 3.1M | -593,080 | -- |
| Net Income From Continuing And Discontinued Operation | 22.1M | 1.1M | -3.9M | -15.3M | -- |
| Net Income From Continuing Operation Net Minority Interest | -14.1M | -432,000 | -3.9M | -15.3M | -- |
| Net Income Including Noncontrolling Interests | 4.0M | -21.3M | -636,000 | -55.8M | -- |
| Minority Interests | 18.1M | 22.4M | -3.3M | 40.4M | -- |
| Net Income Common Stockholders | 22.1M | 1.1M | -3.9M | -15.3M | -- |
| Net Income | 22.1M | 1.1M | -3.9M | -15.3M | -- |
| EBITDA | -24.2M | -14.6M | 16.6M | -43.7M | -- |
| Normalized EBITDA | -7.4M | 330,000 | 8.7M | -15.4M | -- |
| Reconciled Depreciation | 639,000 | 727,000 | 4.6M | 6.9M | -- |
| Basic EPS | 0.33 | 0.02 | -0.06 | -0.22 | -- |
| Diluted EPS | 0.29 | 0.02 | -0.06 | -0.22 | -- |
| Basic Average Shares | 67.5M | 67.5M | 67.5M | 68.7M | -- |
| Diluted Average Shares | 79.5M | 67.5M | 67.5M | 68.7M | -- |
| Total Unusual Items | -16.8M | -15.0M | 7.9M | -28.3M | -- |
| Total Unusual Items Excluding Goodwill | -16.8M | -15.0M | 7.9M | -28.3M | -- |
| Tax Rate For Calcs | 0.06 | 0.11 | 0.40 | 0.02 | -- |
| Normalized Income | 1.7M | 13.0M | -8.6M | 12.4M | -- |
| Average Dilution Earnings | -- | -- | -- | 0.00 | -5.5M |
| Depreciation Amortization Depletion Income Statement | 639,000 | 727,000 | 3.8M | 3.9M | -- |
| Diluted NI Availto Com Stockholders | 22.1M | 1.1M | -3.9M | -15.3M | -- |
| Gain On Sale Of Ppe | 0.00 | 10.4M | 0.00 | -2,000 | -- |
| Impairment Of Capital Assets | 0.00 | 461,000 | 0.00 | 40.0M | -- |
| Net Income Continuous Operations | -32.2M | -22.8M | -636,000 | -55.8M | -- |
| Net Income Discontinuous Operations | 36.2M | 1.5M | -- | -- | -- |
| Net Non Operating Interest Income Expense | -13.1M | -13.9M | -16.6M | -10.5M | -- |
| Other Gand A | 7.1M | 6.9M | 8.5M | 7.5M | -- |
| Other Special Charges | -499,000 | -966,000 | -232,000 | -2.8M | -- |
| Provision For Doubtful Accounts | 1.1M | 878,000 | 1.4M | 28.4M | -- |
| Reconciled Cost Of Revenue | 11.8M | 15.3M | 34.2M | 28.3M | -- |
| Rent And Landing Fees | 800,000 | 1.4M | 3.3M | 2.9M | -- |
| Rent Expense Supplemental | 5.8M | 7.1M | 11.1M | 9.3M | -- |
| Salaries And Wages | 4.8M | 5.6M | 15.0M | 14.0M | -- |
| Selling And Marketing Expense | 591,000 | 1.0M | 4.0M | 3.9M | -- |
| Total Expenses | 26.8M | 31.8M | 70.9M | 91.4M | -- |
| Total Operating Income As Reported | 2.1M | 3.3M | 7.3M | 7.8M | -- |
| Total Other Finance Cost | 4.0M | 4.0M | 3.9M | 5.7M | -- |
| Line Item | FY 2025Aug 31, 2025 | FY 2024Aug 31, 2024 | FY 2023Aug 31, 2023 | FY 2022Aug 31, 2022 | FY 2021Aug 31, 2021 |
|---|---|---|---|---|---|
| Cash And Cash Equivalents | 3.3M | 2.1M | 3.4M | 9.7M | -- |
| Cash Cash Equivalents And Short Term Investments | 3.3M | 2.1M | 3.4M | 9.7M | -- |
| Accounts Receivable | 908,000 | 8.3M | 9.4M | 8.9M | -- |
| Receivables | 20.8M | 17.2M | 18.0M | 17.2M | -- |
| Inventory | 97,000 | 933,000 | 965,000 | 840,000 | -- |
| Prepaid Assets | 1.1M | 1.2M | 1.4M | 4.0M | -- |
| Current Assets | 26.6M | 24.2M | 26.4M | 33.8M | -- |
| Gross PPE | 5.7M | 22.8M | 77.3M | 78.4M | -- |
| Accumulated Depreciation | -2.5M | -8.1M | -9.5M | -8.4M | -- |
| Net PPE | 3.2M | 14.6M | 67.9M | 70.0M | -- |
| Goodwill | -- | 5.2M | 5.5M | 5.5M | 5.5M |
| Goodwill And Other Intangible Assets | 24,000 | 11.5M | 12.1M | 13.0M | -- |
| Other Intangible Assets | -- | 6.3M | 6.6M | 7.5M | 7.2M |
| Investments And Advances | 28.2M | 0.00 | -- | -- | -- |
| Long Term Equity Investment | 28.2M | 0.00 | -- | -- | -- |
| Other Non Current Assets | 1.0M | 1.1M | 1.1M | 992,000 | -- |
| Total Non Current Assets | 350.7M | 451.0M | 471.3M | 443.9M | -- |
| Total Assets | 377.4M | 475.2M | 497.7M | 477.7M | -- |
| Current Debt | 52.6M | 84.0M | 120.1M | 182.8M | -- |
| Current Debt And Capital Lease Obligation | 57.3M | 89.3M | 122.9M | 187.0M | -- |
| Accounts Payable | 4.8M | 6.2M | 7.3M | 7.3M | -- |
| Payables | 11.8M | 11.8M | 14.0M | 13.6M | -- |
| Payables And Accrued Expenses | 13.8M | 14.8M | 17.5M | 17.5M | -- |
| Current Accrued Expenses | 2.0M | 3.1M | 3.5M | 4.0M | -- |
| Current Deferred Revenue | 4.3M | 22.0M | 23.2M | 21.7M | -- |
| Current Liabilities | 75.3M | 126.0M | 163.7M | 226.2M | -- |
| Long Term Debt | 130.6M | 167.0M | 149.8M | 67.8M | -- |
| Long Term Debt And Capital Lease Obligation | 148.3M | 198.0M | 159.5M | 78.6M | -- |
| Long Term Capital Lease Obligation | 17.7M | 31.1M | 9.6M | 10.8M | -- |
| Total Non Current Liabilities Net Minority Interest | 157.3M | 207.2M | 170.8M | 89.5M | -- |
| Total Liabilities Net Minority Interest | 232.6M | 333.3M | 334.5M | 315.7M | -- |
| Common Stock | 45.4M | 45.0M | 45.0M | 45.6M | -- |
| Capital Stock | 45.4M | 45.0M | 45.0M | 45.6M | -- |
| Retained Earnings | -5.3M | -27.4M | -28.5M | -24.6M | -- |
| Gains Losses Not Affecting Retained Earnings | 7.9M | 7.7M | 7.5M | 6.9M | -- |
| Other Equity Adjustments | 7.9M | 7.7M | 7.5M | 6.9M | -- |
| Common Stock Equity | 48.0M | 25.2M | 24.0M | 27.9M | -- |
| Stockholders Equity | 48.0M | 25.2M | 24.0M | 27.9M | -- |
| Total Equity Gross Minority Interest | 144.7M | 141.9M | 163.1M | 162.0M | -- |
| Minority Interest | 96.8M | 116.7M | 139.2M | 134.2M | -- |
| Total Capitalization | 178.6M | 192.2M | 173.8M | 95.6M | -- |
| Net Tangible Assets | 47.9M | 13.7M | 11.9M | 14.8M | -- |
| Tangible Book Value | 47.9M | 13.7M | 11.9M | 14.8M | -- |
| Working Capital | -48.7M | -101.8M | -137.3M | -192.4M | -- |
| Invested Capital | 231.2M | 276.2M | 293.9M | 278.4M | -- |
| Total Debt | 205.6M | 287.3M | 282.4M | 265.6M | -- |
| Net Debt | 179.9M | 248.8M | 266.5M | 240.8M | -- |
| Share Issued | 68.7M | 67.4M | 67.5M | 69.2M | -- |
| Ordinary Shares Number | 68.7M | 67.4M | 67.5M | 68.5M | -- |
| Allowance For Doubtful Accounts Receivable | -- | -- | -- | -4.1M | -3.1M |
| Capital Lease Obligations | 22.4M | 36.3M | 12.5M | 15.0M | -- |
| Current Capital Lease Obligation | 4.7M | 5.3M | 2.9M | 4.2M | -- |
| Current Deferred Liabilities | 4.3M | 22.0M | 23.2M | 21.7M | -- |
| Current Notes Payable | 0.00 | 1.0M | 2.0M | 2.0M | -- |
| Duefrom Related Parties Current | -- | -- | 31,000 | 0.00 | -- |
| Dueto Related Parties Current | 1.9M | 339,000 | 0.00 | 309,000 | -- |
| Gross Accounts Receivable | -- | 8.3M | 9.4M | 8.9M | 14.9M |
| Income Tax Payable | 184,000 | 490,000 | 446,000 | 273,000 | -- |
| Interest Payable | 1.7M | 2.0M | 2.3M | 2.1M | -- |
| Investment Properties | 307.4M | 419.9M | 386.6M | 357.7M | -- |
| Investmentsin Joint Venturesat Cost | 28.2M | 0.00 | -- | -- | -- |
| Land And Improvements | 0.00 | 0.00 | 56.9M | 56.9M | -- |
| Leases | 3.6M | 16.3M | 14.1M | 15.7M | -- |
| Line Of Credit | 0.00 | 2.2M | 0.00 | 0.00 | -- |
| Loans Receivable | 11.7M | 3.8M | 3.7M | 3.7M | -- |
| Machinery Furniture Equipment | 1.9M | 6.2M | 6.0M | 5.5M | -- |
| Non Current Deferred Assets | 3.2M | 3.8M | 3.6M | 2.2M | -- |
| Non Current Deferred Liabilities | 8.9M | 9.2M | 11.4M | 10.9M | -- |
| Non Current Deferred Taxes Assets | 3.2M | 3.8M | 3.6M | 2.2M | -- |
| Non Current Deferred Taxes Liabilities | 8.9M | 9.2M | 11.4M | 10.9M | -- |
| Non Current Note Receivables | 7.8M | 0.00 | -- | -- | -- |
| Other Current Borrowings | 52.6M | 80.8M | 118.1M | 180.8M | -- |
| Other Payable | 4.9M | 4.7M | 6.3M | 5.6M | -- |
| Other Properties | 121,000 | 306,000 | 380,000 | 225,000 | -- |
| Other Receivables | 8.1M | 4.8M | 4.8M | 4.5M | -- |
| Properties | 0.00 | 0.00 | 0.00 | 0.00 | -- |
| Restricted Cash | 1.4M | 2.7M | 2.7M | 2.1M | -- |
| Taxes Receivable | 72,000 | 183,000 | 0.00 | 14,000 | -- |
| Total Tax Payable | 184,000 | 490,000 | 446,000 | 273,000 | -- |
| Treasury Shares Number | -- | -- | 47,100 | 733,800 | 207,000 |
| Line Item | FY 2025Aug 31, 2025 | FY 2024Aug 31, 2024 | FY 2023Aug 31, 2023 | FY 2022Aug 31, 2022 | FY 2021Aug 31, 2021 |
|---|---|---|---|---|---|
| Operating Cash Flow | -1.3M | -5.6M | 2.2M | 6.7M | -- |
| Cash Flow From Continuing Operating Activities | -4.0M | -10.9M | 2.2M | 6.7M | -- |
| Depreciation And Amortization | 639,000 | 727,000 | 4.6M | 6.9M | -- |
| Depreciation Amortization Depletion | 639,000 | 727,000 | 4.6M | 6.9M | -- |
| Stock Based Compensation | 157,000 | 134,000 | 100,000 | 150,000 | -- |
| Deferred Tax | -2.1M | -2.7M | -520,000 | -1.2M | -- |
| Deferred Income Tax | -2.1M | -2.7M | -520,000 | -1.2M | -- |
| Change In Working Capital | -594,000 | -5.4M | 641,000 | -3.3M | -- |
| Changes In Account Receivables | -1.0M | -840,000 | -2.2M | 2.0M | -- |
| Change In Receivables | -1.0M | -840,000 | -2.2M | 2.0M | -- |
| Change In Inventory | 12,000 | 33,000 | -125,000 | 12,000 | -- |
| Change In Payables And Accrued Expense | 648,000 | -4.2M | -285,000 | -67,000 | -- |
| Change In Payable | 648,000 | -4.2M | -285,000 | -67,000 | -- |
| Change In Other Working Capital | -8,000 | -467,000 | 3.5M | -5.3M | -- |
| Other Non Cash Items | 13.7M | 13.1M | 16.7M | 8.1M | -- |
| Capital Expenditure | -21,000 | -123,000 | -471,000 | -4.0M | -- |
| Purchase Of PPE | -21,000 | -123,000 | -471,000 | -597,000 | -- |
| Net PPE Purchase And Sale | -21,000 | 14.8M | -471,000 | -597,000 | -- |
| Sale Of Business | 5.0M | 0.00 | -- | -- | -- |
| Purchase Of Investment | -7.8M | 0.00 | -- | -- | -- |
| Net Investment Purchase And Sale | -7.8M | 0.00 | -- | -- | -- |
| Investing Cash Flow | 19.8M | -20.9M | -18.7M | -27.7M | -- |
| Cash Flow From Continuing Investing Activities | -11.7M | -20.0M | -18.7M | -27.7M | -- |
| Issuance Of Debt | 60.1M | 132.3M | 122.0M | 29.5M | -- |
| Repayment Of Debt | -70.9M | -101.9M | -109.6M | -14.5M | -- |
| Net Issuance Payments Of Debt | -10.8M | 30.5M | 12.5M | 15.0M | -- |
| Issuance Of Capital Stock | -- | -- | -- | 0.00 | 2,000 |
| Repurchase Of Capital Stock | -43,000 | -11,000 | -142,000 | -1.3M | -- |
| Net Common Stock Issuance | -43,000 | -11,000 | -142,000 | -1.3M | -- |
| Common Stock Payments | -43,000 | -11,000 | -142,000 | -1.3M | -- |
| Financing Cash Flow | -17.3M | 25.2M | 10.1M | 12.4M | -- |
| Cash Flow From Continuing Financing Activities | -17.3M | 25.7M | 10.1M | 12.4M | -- |
| Effect Of Exchange Rate Changes | -1,000 | 6,000 | -2,000 | -21,000 | -- |
| Changes In Cash | 1.2M | -1.3M | -6.3M | -8.6M | -- |
| Beginning Cash Position | 2.1M | 3.4M | 9.7M | 18.3M | -- |
| End Cash Position | 3.3M | 2.1M | 3.4M | 9.7M | -- |
| Free Cash Flow | -1.3M | -5.7M | 1.7M | 2.7M | -- |
| Asset Impairment Charge | 0.00 | 461,000 | 0.00 | 40.0M | -- |
| Cash From Discontinued Financing Activities | -23,000 | -463,000 | -- | -- | -- |
| Cash From Discontinued Investing Activities | 31.5M | -887,000 | -- | -- | -- |
| Cash From Discontinued Operating Activities | 2.8M | 5.3M | -- | -- | -- |
| Change In Account Payable | 648,000 | -4.2M | -285,000 | -67,000 | -- |
| Change In Income Tax Payable | -- | -- | -- | 0.00 | -37,000 |
| Change In Prepaid Assets | -230,000 | 52,000 | -275,000 | 102,000 | -- |
| Change In Tax Payable | -- | -- | -- | 0.00 | -37,000 |
| Common Stock Issuance | -- | -- | -- | 0.00 | 2,000 |
| Gain Loss On Investment Securities | 17.2M | 25.9M | -7.8M | -8.7M | -- |
| Gain Loss On Sale Of Business | 6.5M | 0.00 | -- | -- | -- |
| Gain Loss On Sale Of PPE | -47,000 | -10.4M | 0.00 | -- | -- |
| Interest Paid Cfo | -8.6M | -10.6M | -12.1M | -7.9M | -- |
| Long Term Debt Issuance | -- | -- | -- | 20.3M | 56.3M |
| Long Term Debt Payments | -5.6M | -2.9M | -5.4M | -5.3M | -- |
| Net Business Purchase And Sale | 5.0M | 0.00 | -- | -- | -- |
| Net Income From Continuing Operations | -32.2M | -22.8M | -636,000 | -55.8M | -- |
| Net Intangibles Purchase And Sale | -- | -221,000 | 0.00 | -3.4M | -1.7M |
| Net Investment Properties Purchase And Sale | -1.8M | -23.7M | -6.6M | -13.8M | -- |
| Net Long Term Debt Issuance | -5.6M | -2.9M | -5.4M | -5.3M | -- |
| Net Other Financing Charges | -6.5M | -4.8M | -2.2M | -1.3M | -- |
| Net Other Investing Changes | -7.2M | -11.1M | -11.6M | -9.9M | -- |
| Net Short Term Debt Issuance | -5.2M | 33.4M | 17.8M | 20.3M | -- |
| Operating Gains Losses | 23.7M | 15.5M | -7.8M | -8.7M | -- |
| Provisionand Write Offof Assets | 1.1M | 878,000 | 1.4M | 28.4M | -- |
| Purchase Of Intangibles | -- | -221,000 | 0.00 | -3.4M | -1.7M |
| Purchase Of Investment Properties | -1.8M | -23.7M | -6.6M | -13.8M | -- |
| Sale Of PPE | 0.00 | 14.9M | 0.00 | -- | -- |
| Short Term Debt Issuance | 60.1M | 132.3M | 122.0M | 29.5M | -- |
| Short Term Debt Payments | -65.3M | -98.9M | -104.2M | -9.3M | -- |
| Taxes Refund Paid | 176,000 | -158,000 | -161,000 | -19,000 | -- |