HIGH ARCTIC OVERSEAS HOLDINGS C
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 | 24.1M | 43.4M | 29.9M | 11.8M |
| Operating Revenue | 24.1M | 43.4M | 29.9M | 11.8M |
| Cost Of Revenue | 18.8M | 35.2M | 32.0M | 16.4M |
| Gross Profit | 5.2M | 8.2M | -2.1M | -4.6M |
| Selling General And Administration | 4.8M | 3.6M | 3.7M | 2.4M |
| General And Administrative Expense | 4.8M | 3.6M | 3.7M | 2.4M |
| Other Operating Expenses | -817,000 | -- | -- | -- |
| Operating Expense | 4.0M | 3.6M | 3.7M | 2.4M |
| Operating Income | 1.3M | 4.6M | -5.8M | -7.0M |
| EBIT | 4.0M | -10.2M | -4.1M | -6.0M |
| Interest Expense | 53,000 | 251,000 | 88,000 | 8,000 |
| Interest Expense Non Operating | 53,000 | 251,000 | 88,000 | 8,000 |
| Interest Income | 175,000 | 0.00 | 586,000 | 389,000 |
| Interest Income Non Operating | 175,000 | 0.00 | 586,000 | 389,000 |
| Net Interest Income | -7,000 | -243,000 | 479,000 | 369,000 |
| Other Income Expense | 2.6M | -14.8M | 1.1M | 694,000 |
| Other Non Operating Income Expenses | 2.7M | 557,000 | 718,000 | 665,000 |
| Special Income Charges | 0.00 | -15.2M | 416,000 | 39,000 |
| Gain On Sale Of Security | -24,000 | -143,000 | -10,000 | -10,000 |
| Pretax Income | 3.9M | -10.5M | -4.2M | -6.0M |
| Tax Provision | 1.0M | -1.8M | 808,000 | -949,000 |
| Tax Effect Of Unusual Items | -6,436 | -2.7M | 106,413 | 4,611 |
| Net Income From Continuing And Discontinued Operation | 2.9M | -8.6M | -5.0M | -5.0M |
| Net Income From Continuing Operation Net Minority Interest | 2.9M | -8.6M | -5.0M | -5.0M |
| Net Income Including Noncontrolling Interests | 2.9M | -8.6M | -5.0M | -5.0M |
| Net Income Common Stockholders | 2.9M | -8.6M | -5.0M | -5.0M |
| Net Income | 2.9M | -8.6M | -5.0M | -5.0M |
| EBITDA | 7.8M | -4.0M | 3.6M | 2.4M |
| Normalized EBITDA | 7.8M | 11.4M | 3.2M | 2.4M |
| Reconciled Depreciation | 3.8M | 6.2M | 7.7M | 8.3M |
| Basic EPS | 0.23 | -0.69 | -0.40 | -0.40 |
| Diluted EPS | 0.23 | -0.69 | -0.40 | -0.40 |
| Basic Average Shares | 12.4M | 12.4M | 12.4M | 12.4M |
| Diluted Average Shares | 12.5M | 12.4M | 12.4M | 12.4M |
| Total Unusual Items | -24,000 | -15.4M | 406,000 | 29,000 |
| Total Unusual Items Excluding Goodwill | -24,000 | -15.4M | 406,000 | 29,000 |
| Tax Rate For Calcs | 0.27 | 0.18 | 0.26 | 0.16 |
| Normalized Income | 2.9M | 4.0M | -5.3M | -5.0M |
| Diluted NI Availto Com Stockholders | 2.9M | -8.6M | -5.0M | -5.0M |
| Gain On Sale Of Ppe | 0.00 | -13,000 | 416,000 | 39,000 |
| Impairment Of Capital Assets | 0.00 | 15.2M | 0.00 | 0.00 |
| Net Income Continuous Operations | 2.9M | -8.6M | -5.0M | -5.0M |
| Net Non Operating Interest Income Expense | -7,000 | -243,000 | 479,000 | 369,000 |
| Other Gand A | 2.0M | 1.1M | 863,000 | 651,000 |
| Other Special Charges | -- | -- | -38,000 | 45,000 |
| Provision For Doubtful Accounts | -15,000 | 9,000 | -38,000 | 45,000 |
| Reconciled Cost Of Revenue | 18.8M | 35.2M | 32.0M | 16.4M |
| Rent And Landing Fees | -- | 251,000 | 88,000 | 8,000 |
| Rent Expense Supplemental | 3.0M | 6.4M | 2.9M | 3.4M |
| Salaries And Wages | 2.8M | 2.5M | 2.8M | 1.7M |
| Total Expenses | 22.8M | 38.8M | 35.7M | 18.8M |
| Total Operating Income As Reported | 2.0M | 2.0M | -5.8M | -7.0M |
| Total Other Finance Cost | 129,000 | -8,000 | 19,000 | 12,000 |
| Line Item | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|
| Cash And Cash Equivalents | 14.9M | 11.0M | 3.8M | 1.9M |
| Cash Cash Equivalents And Short Term Investments | 14.9M | 11.0M | 3.8M | 1.9M |
| Accounts Receivable | 1.8M | 11.0M | 6.5M | 7.0M |
| Receivables | 1.8M | 11.7M | 6.9M | 9.4M |
| Inventory | 7.5M | 7.0M | 6.7M | 7.2M |
| Other Current Assets | 517,000 | 420,000 | 455,000 | 221,000 |
| Current Assets | 24.7M | 30.1M | 17.9M | 18.7M |
| Gross PPE | 114.9M | 114.4M | 128.6M | 131.4M |
| Accumulated Depreciation | -104.8M | -101.1M | -95.9M | -91.6M |
| Net PPE | 10.1M | 13.3M | 32.7M | 39.8M |
| Total Non Current Assets | 10.6M | 13.3M | 32.7M | 49.8M |
| Total Assets | 35.3M | 43.4M | 50.6M | 68.5M |
| Current Debt And Capital Lease Obligation | 339,000 | 466,000 | 231,000 | 161,000 |
| Accounts Payable | 336,000 | 3.5M | 840,000 | 1.4M |
| Payables | 2.0M | 4.6M | 1.8M | 2.3M |
| Payables And Accrued Expenses | 3.2M | 9.3M | 5.5M | 6.1M |
| Current Accrued Expenses | 1.2M | 4.7M | 3.7M | 3.8M |
| Current Deferred Revenue | 551,000 | 0.00 | -- | -- |
| Current Liabilities | 4.1M | 9.8M | 5.7M | 6.2M |
| Long Term Debt And Capital Lease Obligation | 109,000 | 507,000 | 232,000 | 0.00 |
| Long Term Capital Lease Obligation | 109,000 | 507,000 | 232,000 | 0.00 |
| Total Non Current Liabilities Net Minority Interest | 230,000 | 507,000 | 3.1M | 4.8M |
| Total Liabilities Net Minority Interest | 4.3M | 10.3M | 8.8M | 11.0M |
| Common Stock | 29.5M | 0.00 | 5,000 | 5,000 |
| Capital Stock | 29.5M | 0.00 | 5,000 | 5,000 |
| Additional Paid In Capital | 13,000 | 0.00 | -- | -- |
| Retained Earnings | 1.5M | 0.00 | 41.7M | 57.4M |
| Gains Losses Not Affecting Retained Earnings | -29,000 | 0.00 | 33,000 | 36,000 |
| Other Equity Adjustments | -29,000 | 34,000 | 33,000 | 36,000 |
| Common Stock Equity | 31.0M | 33.1M | 41.7M | 57.4M |
| Stockholders Equity | 31.0M | 33.1M | 41.7M | 57.4M |
| Total Equity Gross Minority Interest | 31.0M | 33.1M | 41.7M | 57.4M |
| Total Capitalization | 31.0M | 33.1M | 41.7M | 57.4M |
| Net Tangible Assets | 31.0M | 33.1M | 41.7M | 57.4M |
| Tangible Book Value | 31.0M | 33.1M | 41.7M | 57.4M |
| Working Capital | 20.6M | 20.3M | 12.2M | 12.4M |
| Invested Capital | 31.0M | 33.1M | 41.7M | 57.4M |
| Total Debt | 448,000 | 973,000 | 463,000 | 161,000 |
| Share Issued | 12.4M | 12.4M | 12.4M | 12.4M |
| Ordinary Shares Number | 12.4M | 12.4M | 12.4M | 12.4M |
| Allowance For Doubtful Accounts Receivable | -1,000 | -16,000 | -8,000 | -45,000 |
| Capital Lease Obligations | 448,000 | 973,000 | 463,000 | 161,000 |
| Construction In Progress | 504,000 | 234,000 | 0.00 | 4.5M |
| Current Capital Lease Obligation | 339,000 | 466,000 | 231,000 | 161,000 |
| Current Deferred Liabilities | 551,000 | 0.00 | -- | -- |
| Duefrom Related Parties Current | 0.00 | 210,000 | 0.00 | 27,000 |
| Dueto Related Parties Current | 135,000 | 0.00 | 329,000 | 0.00 |
| Gross Accounts Receivable | 1.8M | 11.0M | 6.6M | 7.0M |
| Income Tax Payable | 789,000 | 282,000 | 168,000 | 524,000 |
| Machinery Furniture Equipment | 290,000 | 284,000 | 724,000 | 724,000 |
| Non Current Accounts Receivable | 490,000 | -- | -- | -- |
| Non Current Deferred Liabilities | 121,000 | 0.00 | 2.9M | 4.8M |
| Non Current Deferred Taxes Liabilities | 121,000 | 0.00 | 2.9M | 4.8M |
| Non Current Note Receivables | -- | 0.00 | 0.00 | 10.0M |
| Other Equity Interest | -- | 33.1M | -- | -- |
| Other Payable | 11,000 | 143,000 | 439,000 | 11,000 |
| Other Properties | 114.1M | 113.8M | 127.9M | 126.1M |
| Taxes Receivable | 0.00 | 503,000 | 356,000 | 2.4M |
| Total Tax Payable | 1.5M | 987,000 | 607,000 | 871,000 |
| Line Item | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|
| Operating Cash Flow | 10.1M | 8.9M | 2.6M | -1.9M |
| Cash Flow From Continuing Operating Activities | 10.1M | 8.9M | 2.6M | -1.9M |
| Depreciation And Amortization | 3.8M | 6.2M | 7.7M | 8.3M |
| Depreciation Amortization Depletion | 3.8M | 6.2M | 7.7M | 8.3M |
| Stock Based Compensation | 13,000 | 0.00 | -- | -- |
| Deferred Tax | 121,000 | -2.9M | -1.9M | -1.6M |
| Deferred Income Tax | 121,000 | -2.9M | -1.9M | -1.6M |
| Change In Working Capital | 3.3M | -1.4M | 2.1M | -3.6M |
| Changes In Account Receivables | 9.2M | -4.4M | 442,000 | -5.9M |
| Change In Receivables | 9.2M | -4.6M | 2.5M | -5.6M |
| Change In Inventory | -547,000 | -352,000 | 219,000 | -395,000 |
| Change In Payables And Accrued Expense | -6.2M | 4.1M | -912,000 | 3.0M |
| Change In Payable | -6.2M | 4.1M | -912,000 | 3.0M |
| Change In Other Working Capital | 896,000 | -539,000 | 356,000 | -541,000 |
| Other Non Cash Items | 53,000 | 251,000 | 88,000 | 8,000 |
| Capital Expenditure | -652,000 | -1.1M | -401,000 | -1.9M |
| Purchase Of PPE | -652,000 | -1.1M | -401,000 | -1.9M |
| Net PPE Purchase And Sale | -652,000 | 0.00 | 725,000 | 45,000 |
| Investing Cash Flow | -652,000 | -1.1M | 324,000 | -1.8M |
| Cash Flow From Continuing Investing Activities | -652,000 | -1.1M | 324,000 | -1.8M |
| Repayment Of Debt | -487,000 | -714,000 | -243,000 | -292,000 |
| Net Issuance Payments Of Debt | -487,000 | -714,000 | -243,000 | -292,000 |
| Financing Cash Flow | -5.5M | -714,000 | -993,000 | -5.0M |
| Cash Flow From Continuing Financing Activities | -5.5M | -714,000 | -993,000 | -5.0M |
| Effect Of Exchange Rate Changes | -1,000 | 0.00 | -3,000 | 12,000 |
| Changes In Cash | 4.0M | 7.1M | 2.0M | -8.7M |
| Beginning Cash Position | 11.0M | 3.8M | 1.9M | 10.6M |
| End Cash Position | 14.9M | 11.0M | 3.8M | 1.9M |
| Free Cash Flow | 9.5M | 7.8M | 2.2M | -3.8M |
| Income Tax Paid Supplemental Data | -- | 1.1M | 3.4M | 151,000 |
| Interest Paid Supplemental Data | -- | 0.00 | 0.00 | 0.00 |
| Asset Impairment Charge | 0.00 | 15.2M | 0.00 | 0.00 |
| Capital Expenditure Reported | -652,000 | -1.1M | -401,000 | -1.9M |
| Cash Dividends Paid | -5.0M | 0.00 | -750,000 | -4.7M |
| Change In Account Payable | -6.7M | 4.0M | -556,000 | 3.0M |
| Change In Income Tax Payable | 507,000 | 114,000 | -356,000 | 0.00 |
| Change In Tax Payable | 507,000 | 114,000 | -356,000 | 0.00 |
| Depreciation | 3.8M | -- | -- | -- |
| Gain Loss On Sale Of PPE | 0.00 | 13,000 | -416,000 | -39,000 |
| Long Term Debt Payments | -487,000 | -714,000 | -243,000 | -292,000 |
| Net Foreign Currency Exchange Gain Loss | -96,000 | 82,000 | 4,000 | 15,000 |
| Net Income From Continuing Operations | 2.9M | -8.6M | -5.0M | -5.0M |
| Net Long Term Debt Issuance | -487,000 | -714,000 | -243,000 | -292,000 |
| Operating Gains Losses | -96,000 | 95,000 | -412,000 | -24,000 |
| Sale Of PPE | -- | 0.00 | 725,000 | 45,000 |