Tantalus Systems Holding Inc.
Financial Statements (IFRS) · Amounts in CAD
Income Statement
Balance Sheet
Cash Flow
| Line Item | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|
| Total Revenue | 44.3M | 42.1M | 39.6M | 32.2M |
| Operating Revenue | 44.3M | 42.1M | 39.6M | 32.2M |
| Cost Of Revenue | 20.3M | 20.3M | 20.7M | 17.8M |
| Gross Profit | 24.0M | 21.9M | 18.9M | 14.4M |
| Selling General And Administration | 16.5M | 14.4M | 15.1M | 13.6M |
| General And Administrative Expense | 7.9M | 6.6M | 8.3M | 8.1M |
| Research And Development | 7.0M | 7.9M | 7.6M | 5.4M |
| Depreciation And Amortization In Income Statement | 1.8M | 1.8M | 1.9M | 1.5M |
| Operating Expense | 25.3M | 24.1M | 24.6M | 20.6M |
| Operating Income | -1.3M | -2.3M | -5.7M | -6.2M |
| EBIT | -1.0M | -244,796 | -5.1M | -6.4M |
| Interest Expense | 1.6M | 1.4M | 946,106 | 530,350 |
| Interest Expense Non Operating | 1.6M | 1.4M | 946,106 | 530,350 |
| Net Interest Income | -1.6M | -1.5M | -1.1M | -628,200 |
| Other Income Expense | 232,618 | 2.1M | 682,774 | -108,941 |
| Special Income Charges | 0.00 | 2.3M | 0.00 | -- |
| Restructuring And Mergern Acquisition | 0.00 | -2.3M | 0.00 | -- |
| Gain On Sale Of Security | 232,618 | -211,153 | 682,774 | -108,941 |
| Pretax Income | -2.6M | -1.7M | -6.1M | -7.0M |
| Tax Provision | 11,582 | 10,686 | -881,597 | 40,717 |
| Tax Effect Of Unusual Items | 34,893 | 848,620 | 99,051 | -28,869 |
| Net Income From Continuing And Discontinued Operation | -2.6M | -1.7M | -5.2M | -7.0M |
| Net Income From Continuing Operation Net Minority Interest | -2.6M | -1.7M | -5.2M | -7.0M |
| Net Income Including Noncontrolling Interests | -2.6M | -1.7M | -5.2M | -7.0M |
| Net Income Common Stockholders | -2.6M | -1.7M | -5.2M | -7.0M |
| Net Income | -2.6M | -1.7M | -5.2M | -7.0M |
| EBITDA | 722,721 | 1.6M | -3.2M | -4.9M |
| Normalized EBITDA | 490,103 | -531,775 | -3.9M | -4.8M |
| Reconciled Depreciation | 1.8M | 1.8M | 1.9M | 1.5M |
| Basic EPS | -0.05 | -0.04 | -0.12 | -0.17 |
| Diluted EPS | -0.05 | -0.04 | -0.12 | -0.17 |
| Basic Average Shares | 48.4M | 44.6M | 44.5M | 40.3M |
| Diluted Average Shares | 48.4M | 44.6M | 44.5M | 40.3M |
| Total Unusual Items | 232,618 | 2.1M | 682,774 | -108,941 |
| Total Unusual Items Excluding Goodwill | 232,618 | 2.1M | 682,774 | -108,941 |
| Tax Rate For Calcs | 0.15 | 0.40 | 0.15 | 0.27 |
| Normalized Income | -2.8M | -3.0M | -5.8M | -6.9M |
| Amortization | 769,854 | 769,901 | 865,350 | -- |
| Amortization Of Intangibles Income Statement | 769,854 | 769,901 | 865,350 | -- |
| Depreciation Amortization Depletion Income Statement | 1.8M | 1.8M | 1.9M | 1.5M |
| Depreciation Income Statement | 982,391 | 1.1M | 1.0M | -- |
| Diluted NI Availto Com Stockholders | -2.6M | -1.7M | -5.2M | -7.0M |
| Insurance And Claims | -- | -- | -- | 97,850 |
| Net Income Continuous Operations | -2.6M | -1.7M | -5.2M | -7.0M |
| Net Non Operating Interest Income Expense | -1.6M | -1.5M | -1.1M | -628,200 |
| Other Gand A | 7.9M | 6.6M | 8.3M | 8.1M |
| Reconciled Cost Of Revenue | 20.3M | 20.3M | 20.7M | 17.8M |
| Selling And Marketing Expense | 8.6M | 7.8M | 6.8M | 5.5M |
| Total Expenses | 45.6M | 44.4M | 45.3M | 38.4M |
| Total Operating Income As Reported | -1.3M | -2.3M | -5.7M | -6.2M |
| Total Other Finance Cost | -- | 79,743 | 123,979 | 97,850 |
| Line Item | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|
| Cash And Cash Equivalents | 13.2M | 5.2M | 5.9M | 14.2M |
| Cash Cash Equivalents And Short Term Investments | 13.2M | 5.2M | 5.9M | 14.2M |
| Cash Financial | 13.2M | 5.2M | 5.9M | 14.2M |
| Accounts Receivable | 10.0M | 7.9M | 9.0M | 5.3M |
| Receivables | 10.0M | 7.9M | 9.0M | 5.4M |
| Inventory | 4.8M | 6.6M | 5.7M | 5.7M |
| Prepaid Assets | -- | -- | 1.5M | 1.1M |
| Other Current Assets | 1.8M | 1.5M | 1.5M | 1.1M |
| Current Assets | 29.9M | 21.8M | 22.8M | 26.4M |
| Gross PPE | 13.6M | 13.8M | 14.2M | 14.1M |
| Accumulated Depreciation | -10.8M | -10.5M | -10.1M | -9.7M |
| Net PPE | 2.8M | 3.3M | 4.1M | 4.4M |
| Goodwill | 3.4M | 3.4M | 3.4M | 0.00 |
| Goodwill And Other Intangible Assets | 8.9M | 9.7M | 10.4M | 160,490 |
| Other Intangible Assets | 5.4M | 6.2M | 7.0M | 160,490 |
| Total Non Current Assets | 11.7M | 13.0M | 14.6M | 4.6M |
| Total Assets | 41.5M | 34.8M | 37.4M | 31.0M |
| Current Debt | 5.2M | 8.5M | 9.2M | 8.1M |
| Current Debt And Capital Lease Obligation | 6.1M | 9.4M | 10.1M | 8.8M |
| Accounts Payable | 8.0M | 7.8M | 8.5M | 5.4M |
| Payables | 8.0M | 7.8M | 9.2M | 6.1M |
| Payables And Accrued Expenses | 15.6M | 13.7M | 10.6M | 7.3M |
| Current Accrued Expenses | 7.6M | 5.9M | 1.4M | 1.2M |
| Current Deferred Revenue | 6.1M | 4.2M | 4.6M | 3.2M |
| Other Current Liabilities | -- | -- | 2.5M | -- |
| Current Liabilities | 27.7M | 27.3M | 29.5M | 21.0M |
| Long Term Debt | 5.4M | 2.9M | 1.2M | -- |
| Long Term Debt And Capital Lease Obligation | 6.8M | 5.0M | 3.8M | 3.3M |
| Long Term Capital Lease Obligation | 1.4M | 2.1M | 2.6M | 3.3M |
| Other Non Current Liabilities | -- | -- | 2.5M | -- |
| Total Non Current Liabilities Net Minority Interest | 6.9M | 5.2M | 4.3M | 3.3M |
| Total Liabilities Net Minority Interest | 34.6M | 32.5M | 33.8M | 24.2M |
| Common Stock | 94.6M | 88.1M | 88.1M | 86.9M |
| Capital Stock | 94.6M | 88.1M | 88.1M | 86.9M |
| Retained Earnings | -131.8M | -129.2M | -127.5M | -122.3M |
| Gains Losses Not Affecting Retained Earnings | 44.2M | 43.4M | 42.9M | 42.2M |
| Other Equity Adjustments | 44.2M | 43.4M | 42.9M | 42.2M |
| Common Stock Equity | 6.9M | 2.3M | 3.6M | 6.8M |
| Stockholders Equity | 6.9M | 2.3M | 3.6M | 6.8M |
| Total Equity Gross Minority Interest | 6.9M | 2.3M | 3.6M | 6.8M |
| Total Capitalization | 12.3M | 5.2M | 4.7M | 6.8M |
| Net Tangible Assets | -1.9M | -7.3M | -6.8M | 6.6M |
| Tangible Book Value | -1.9M | -7.3M | -6.8M | 6.6M |
| Working Capital | 2.2M | -5.5M | -6.7M | 5.5M |
| Invested Capital | 17.5M | 13.7M | 13.9M | 14.9M |
| Total Debt | 12.8M | 14.4M | 13.8M | 12.1M |
| Net Debt | -- | 6.2M | 4.5M | -- |
| Share Issued | 50.8M | 44.6M | 44.6M | 43.6M |
| Ordinary Shares Number | 50.8M | 44.6M | 44.6M | 43.6M |
| Allowance For Doubtful Accounts Receivable | -851,604 | -651,604 | -551,604 | -351,604 |
| Capital Lease Obligations | 2.2M | 3.0M | 3.5M | 4.0M |
| Current Capital Lease Obligation | 842,962 | 857,273 | 858,643 | 726,549 |
| Current Deferred Liabilities | 6.1M | 4.2M | 4.6M | 3.2M |
| Finished Goods | 1.8M | 3.7M | 3.3M | 3.1M |
| Gross Accounts Receivable | 10.9M | 8.5M | 9.6M | 5.7M |
| Leases | 1.9M | 1.6M | 1.6M | 1.6M |
| Line Of Credit | 3.7M | 8.5M | 8.1M | 8.1M |
| Machinery Furniture Equipment | 4.1M | 4.0M | 4.0M | 3.9M |
| Non Current Deferred Liabilities | 103,194 | 202,480 | 503,994 | 0.00 |
| Non Current Deferred Revenue | 103,194 | 202,480 | 503,994 | 0.00 |
| Other Current Borrowings | 1.5M | 8.5M | 1.1M | 8.1M |
| Other Payable | -- | 1.1M | 714,443 | 684,485 |
| Other Properties | 7.6M | 8.1M | 8.6M | 8.5M |
| Pensionand Other Post Retirement Benefit Plans Current | -- | 1.8M | 1.7M | 1.7M |
| Properties | 0.00 | 0.00 | 0.00 | 0.00 |
| Raw Materials | 3.1M | 2.9M | 2.4M | 2.5M |
| Restricted Cash | 0.00 | 673,474 | 673,474 | 0.00 |
| Taxes Receivable | -- | 0.00 | 2,824 | 52,869 |
| Tradeand Other Payables Non Current | -- | -- | 2.5M | 0.00 |
| Unrealized Gain Loss | -- | -- | 1.9M | 1.9M |
| Line Item | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|
| Operating Cash Flow | 2.6M | -839,724 | -3.4M | -4.0M |
| Cash Flow From Continuing Operating Activities | 2.6M | -839,724 | -3.4M | -4.0M |
| Depreciation And Amortization | 1.8M | 1.8M | 1.9M | 1.5M |
| Depreciation Amortization Depletion | 1.8M | 1.8M | 1.9M | 1.5M |
| Stock Based Compensation | 595,710 | 423,221 | 773,478 | 462,080 |
| Change In Working Capital | 3.0M | 803,647 | -461,598 | -234,708 |
| Changes In Account Receivables | -2.1M | 1.2M | -3.0M | 3.6M |
| Change In Receivables | -2.1M | 1.2M | -3.0M | 4.7M |
| Change In Inventory | 1.8M | -944,011 | 4,381 | -1.1M |
| Change In Payables And Accrued Expense | 1.9M | 1.2M | 1.5M | -3.4M |
| Change In Other Working Capital | 1.8M | -737,102 | 1.4M | -1.1M |
| Other Non Cash Items | 1.4M | -1.2M | 708,064 | 1.6M |
| Capital Expenditure | -409,299 | -269,361 | -176,548 | -530,211 |
| Purchase Of PPE | -409,299 | -269,361 | -176,548 | -147,590 |
| Net PPE Purchase And Sale | -409,299 | -269,361 | -176,548 | -147,590 |
| Purchase Of Business | -- | 0.00 | -5.7M | 0.00 |
| Sale Of Business | -- | -- | 0.00 | 342,072 |
| Investing Cash Flow | -409,299 | -269,361 | -5.9M | -188,139 |
| Cash Flow From Continuing Investing Activities | -409,299 | -269,361 | -5.9M | -188,139 |
| Issuance Of Debt | 4.0M | 3.3M | 3.3M | 24,950 |
| Repayment Of Debt | -5.5M | -2.9M | -1.6M | -610,487 |
| Net Issuance Payments Of Debt | -1.5M | 403,688 | 1.7M | -585,537 |
| Issuance Of Capital Stock | 7.3M | 0.00 | 0.00 | 16.3M |
| Net Common Stock Issuance | 7.3M | 0.00 | 0.00 | 16.3M |
| Financing Cash Flow | 5.9M | 403,688 | 1.1M | 13.7M |
| Cash Flow From Continuing Financing Activities | 5.9M | 403,688 | 1.1M | 13.7M |
| Effect Of Exchange Rate Changes | -19,828 | 8,181 | -166,111 | 10,485 |
| Changes In Cash | 8.1M | -705,397 | -8.2M | 9.5M |
| Beginning Cash Position | 5.2M | 5.9M | 14.2M | 4.6M |
| End Cash Position | 13.2M | 5.2M | 5.9M | 14.2M |
| Free Cash Flow | 2.2M | -1.1M | -3.6M | -4.5M |
| Amortization Cash Flow | 769,854 | 769,901 | 865,350 | 596,804 |
| Amortization Of Intangibles | 769,854 | 769,901 | 865,350 | 596,804 |
| Change In Prepaid Assets | -362,760 | 68,758 | -365,679 | 680,919 |
| Common Stock Issuance | 7.3M | 0.00 | 0.00 | 16.3M |
| Depreciation | 982,391 | 1.1M | 1.0M | 948,933 |
| Interest Paid Cfo | -1.4M | -1.1M | -708,064 | -446,386 |
| Long Term Debt Issuance | 4.0M | 3.3M | 3.3M | 24,950 |
| Long Term Debt Payments | -659,155 | -619,178 | -1.6M | -610,487 |
| Net Business Purchase And Sale | -- | 0.00 | -5.7M | 342,072 |
| Net Foreign Currency Exchange Gain Loss | -75,636 | 116,737 | -414,197 | 44,658 |
| Net Income From Continuing Operations | -2.6M | -1.7M | -5.2M | -7.0M |
| Net Intangibles Purchase And Sale | -- | 0.00 | 0.00 | -382,621 |
| Net Long Term Debt Issuance | 3.3M | 2.7M | 1.7M | -585,537 |
| Net Other Financing Charges | 41,571 | -- | -673,474 | -2.0M |
| Net Short Term Debt Issuance | -4.8M | -2.3M | -- | -- |
| Operating Gains Losses | -75,636 | 116,737 | -414,197 | 44,658 |
| Proceeds From Stock Option Exercised | -- | 0.00 | 14,125 | 51,650 |
| Purchase Of Intangibles | -- | 0.00 | 0.00 | -382,621 |
| Short Term Debt Payments | -4.8M | -2.3M | -- | -- |