HIGH ARCTIC OVERSEAS HOLDINGS C

Financial Statements (IFRS) · Amounts in CAD

5 10 All

Annual Quarterly

Income Statement

Balance Sheet

Cash Flow

Line Item	Q3 2025Sep 30, 2025	Q2 2025Jun 30, 2025	Q1 2025Mar 31, 2025	Q4 2024Dec 31, 2024	Q3 2024Sep 30, 2024
Total Revenue	2.0M	2.4M	2.5M	2.4M	2.9M
Operating Revenue	2.0M	2.4M	2.5M	2.4M	2.9M
Cost Of Revenue	2.2M	2.6M	2.5M	2.5M	2.6M
Gross Profit	-226,000	-227,000	-39,000	-76,000	298,000
Selling General And Administration	1.0M	738,000	958,000	1.2M	1.3M
General And Administrative Expense	1.0M	738,000	958,000	1.2M	1.3M
Other Operating Expenses	--	-224,000	--	--	--
Operating Expense	1.0M	516,000	959,000	371,000	1.3M
Operating Income	-1.2M	-743,000	-998,000	-447,000	-1.0M
EBIT	-1.2M	-689,000	-1.0M	2.2M	-1.2M
Interest Expense	3,000	5,000	7,000	9,000	12,000
Interest Expense Non Operating	3,000	5,000	7,000	9,000	12,000
Interest Income	64,000	29,000	17,000	38,000	31,000
Interest Income Non Operating	64,000	29,000	17,000	38,000	31,000
Net Interest Income	53,000	23,000	10,000	27,000	-97,000
Other Income Expense	-49,000	26,000	-41,000	2.6M	-95,000
Other Non Operating Income Expenses	--	39,000	--	2.6M	-74,000
Special Income Charges	--	--	--	0.00	0.00
Gain On Sale Of Security	-49,000	-13,000	-41,000	-8,000	-21,000
Pretax Income	-1.2M	-694,000	-1.0M	2.1M	-1.2M
Tax Provision	95,000	-172,000	196,000	339,000	193,000
Tax Effect Of Unusual Items	-7,350	-3,222	-6,150	-1,264	-3,150
Net Income From Continuing And Discontinued Operation	-1.3M	-522,000	-1.2M	1.8M	-1.4M
Net Income From Continuing Operation Net Minority Interest	-1.3M	-522,000	-1.2M	1.8M	-1.4M
Net Income Including Noncontrolling Interests	-1.3M	-522,000	-1.2M	1.8M	-1.4M
Net Income Common Stockholders	-1.3M	-522,000	-1.2M	1.8M	-1.4M
Net Income	-1.3M	-522,000	-1.2M	1.8M	-1.4M
EBITDA	-685,000	47,000	-269,000	2.9M	-450,000
Normalized EBITDA	-636,000	60,000	-228,000	2.9M	-429,000
Reconciled Depreciation	547,000	736,000	753,000	769,000	766,000
Basic EPS	-0.11	-0.04	-0.10	--	-0.11
Diluted EPS	-0.11	-0.04	-0.10	--	-0.11
Basic Average Shares	12.4M	12.4M	12.4M	--	12.4M
Diluted Average Shares	13.1M	13.1M	13.1M	--	12.4M
Total Unusual Items	-49,000	-13,000	-41,000	-8,000	-21,000
Total Unusual Items Excluding Goodwill	-49,000	-13,000	-41,000	-8,000	-21,000
Tax Rate For Calcs	0.15	0.25	0.15	0.16	0.15
Normalized Income	-1.3M	-512,222	-1.2M	1.8M	-1.4M
Diluted NI Availto Com Stockholders	-1.3M	-522,000	-1.2M	1.8M	-1.4M
Gain On Sale Of Ppe	--	--	--	0.00	0.00
Impairment Of Capital Assets	--	--	--	0.00	0.00
Net Income Continuous Operations	-1.3M	-522,000	-1.2M	1.8M	-1.4M
Net Non Operating Interest Income Expense	53,000	23,000	10,000	27,000	-97,000
Other Gand A	304,000	111,000	323,000	448,000	728,000
Provision For Doubtful Accounts	2,000	2,000	1,000	1,000	-3,000
Reconciled Cost Of Revenue	2.2M	2.6M	2.5M	2.5M	2.6M
Rent And Landing Fees	--	--	--	--	12,000
Rent Expense Supplemental	0.00	0.00	56,000	82,000	-35,000
Salaries And Wages	707,000	627,000	635,000	739,000	609,000
Total Expenses	3.2M	3.1M	3.5M	2.9M	3.9M
Total Operating Income As Reported	-1.2M	-967,000	-998,000	0.00	-1.0M
Total Other Finance Cost	8,000	1,000	--	2,000	116,000

Line Item	Q3 2025Sep 30, 2025	Q2 2025Jun 30, 2025	Q1 2025Mar 31, 2025	Q4 2024Dec 31, 2024	Q3 2024Sep 30, 2024
Cash And Cash Equivalents	13.0M	13.8M	13.9M	14.9M	14.9M
Cash Cash Equivalents And Short Term Investments	13.0M	13.8M	13.9M	14.9M	14.9M
Accounts Receivable	1.6M	1.7M	2.0M	1.8M	1.8M
Receivables	1.6M	1.7M	2.1M	1.8M	2.8M
Inventory	7.6M	7.5M	7.6M	7.5M	6.4M
Other Current Assets	340,000	401,000	564,000	517,000	324,000
Current Assets	22.4M	23.4M	24.2M	24.7M	24.4M
Gross PPE	114.2M	115.1M	115.0M	114.9M	109.9M
Accumulated Depreciation	-105.9M	-106.3M	-105.5M	-104.8M	-99.1M
Net PPE	8.3M	8.8M	9.4M	10.1M	10.8M
Total Non Current Assets	8.7M	9.3M	9.9M	10.6M	10.8M
Total Assets	31.1M	32.8M	34.1M	35.3M	35.2M
Current Debt And Capital Lease Obligation	125,000	194,000	270,000	339,000	432,000
Accounts Payable	253,000	419,000	539,000	336,000	95,000
Payables	1.8M	2.1M	2.0M	2.0M	1.6M
Payables And Accrued Expenses	3.0M	3.1M	3.3M	3.2M	5.5M
Current Accrued Expenses	1.1M	1.0M	1.3M	1.2M	3.8M
Current Deferred Revenue	12,000	121,000	422,000	551,000	--
Current Liabilities	3.1M	3.4M	4.0M	4.1M	5.9M
Long Term Debt And Capital Lease Obligation	11,000	31,000	64,000	109,000	147,000
Long Term Capital Lease Obligation	11,000	31,000	64,000	109,000	147,000
Total Non Current Liabilities Net Minority Interest	11,000	31,000	349,000	230,000	147,000
Total Liabilities Net Minority Interest	3.1M	3.4M	4.4M	4.3M	6.0M
Common Stock	29.5M	29.5M	29.5M	29.5M	29.5M
Capital Stock	29.5M	29.5M	29.5M	29.5M	29.5M
Additional Paid In Capital	147,000	103,000	56,000	13,000	--
Retained Earnings	-1.6M	-280,000	242,000	1.5M	-339,000
Gains Losses Not Affecting Retained Earnings	-4,000	-20,000	-34,000	-29,000	12,000
Other Equity Adjustments	-4,000	-20,000	-34,000	-29,000	12,000
Common Stock Equity	28.0M	29.3M	29.8M	31.0M	29.2M
Stockholders Equity	28.0M	29.3M	29.8M	31.0M	29.2M
Total Equity Gross Minority Interest	28.0M	29.3M	29.8M	31.0M	29.2M
Total Capitalization	28.0M	29.3M	29.8M	31.0M	29.2M
Net Tangible Assets	28.0M	29.3M	29.8M	31.0M	29.2M
Tangible Book Value	28.0M	29.3M	29.8M	31.0M	29.2M
Working Capital	19.3M	20.0M	20.2M	20.6M	18.5M
Invested Capital	28.0M	29.3M	29.8M	31.0M	29.2M
Total Debt	136,000	225,000	334,000	448,000	579,000
Share Issued	12.4M	12.4M	12.4M	12.4M	12.4M
Ordinary Shares Number	12.4M	12.4M	12.4M	12.4M	12.4M
Allowance For Doubtful Accounts Receivable	-5,000	-3,000	-2,000	-1,000	-1,000
Capital Lease Obligations	136,000	225,000	334,000	448,000	579,000
Construction In Progress	49,000	537,000	578,000	504,000	443,000
Current Capital Lease Obligation	125,000	194,000	270,000	339,000	432,000
Current Deferred Liabilities	12,000	121,000	422,000	551,000	--
Duefrom Related Parties Current	--	--	116,000	0.00	539,000
Dueto Related Parties Current	0.00	0.00	0.00	135,000	--
Gross Accounts Receivable	1.6M	1.7M	2.0M	1.8M	1.8M
Income Tax Payable	795,000	801,000	769,000	789,000	689,000
Inventories Adjustments Allowances	-162,000	-162,000	-162,000	--	-162,000
Machinery Furniture Equipment	427,000	421,000	290,000	290,000	289,000
Non Current Accounts Receivable	490,000	490,000	490,000	490,000	--
Non Current Deferred Liabilities	0.00	0.00	285,000	121,000	--
Non Current Deferred Taxes Liabilities	0.00	0.00	285,000	121,000	--
Other Inventories	7.7M	7.7M	7.8M	--	6.6M
Other Payable	44,000	21,000	23,000	11,000	44,000
Other Properties	113.7M	114.2M	114.1M	114.1M	109.2M
Taxes Receivable	--	--	--	0.00	488,000
Total Tax Payable	1.5M	1.6M	1.5M	1.5M	1.5M

Line Item	Q3 2025Sep 30, 2025	Q2 2025Jun 30, 2025	Q1 2025Mar 31, 2025	Q4 2024Dec 31, 2024	Q3 2024Sep 30, 2024
Operating Cash Flow	-800,000	161,000	-825,000	248,000	1.2M
Cash Flow From Continuing Operating Activities	-800,000	161,000	-825,000	248,000	1.2M
Depreciation And Amortization	547,000	736,000	753,000	769,000	766,000
Depreciation Amortization Depletion	547,000	736,000	753,000	769,000	766,000
Stock Based Compensation	44,000	47,000	43,000	--	0.00
Deferred Tax	0.00	-285,000	164,000	121,000	0.00
Deferred Income Tax	0.00	-285,000	164,000	121,000	0.00
Change In Working Capital	-73,000	180,000	-569,000	-2.4M	1.8M
Changes In Account Receivables	166,000	297,000	-214,000	-38,000	2.9M
Change In Receivables	57,000	413,000	-465,000	289,000	2.5M
Change In Inventory	10,000	294,000	-222,000	-1.2M	-347,000
Change In Payables And Accrued Expense	-140,000	-226,000	247,000	-2.4M	-323,000
Change In Payable	-140,000	-226,000	247,000	-2.4M	-323,000
Change In Other Working Capital	--	-301,000	-129,000	--	--
Other Non Cash Items	3,000	5,000	7,000	9,000	12,000
Capital Expenditure	--	-159,000	-74,000	-62,000	-57,000
Purchase Of PPE	--	--	-74,000	-62,000	-57,000
Net PPE Purchase And Sale	--	--	-74,000	-62,000	-57,000
Investing Cash Flow	39,000	-159,000	-74,000	-62,000	-57,000
Cash Flow From Continuing Investing Activities	39,000	-159,000	-74,000	-62,000	-57,000
Repayment Of Debt	-88,000	-113,000	-117,000	-113,000	-128,000
Net Issuance Payments Of Debt	-88,000	-113,000	-117,000	-113,000	-128,000
Financing Cash Flow	-88,000	-113,000	-117,000	-113,000	-5.1M
Cash Flow From Continuing Financing Activities	-88,000	-113,000	-117,000	-113,000	-5.1M
Effect Of Exchange Rate Changes	2,000	8,000	-12,000	-1,000	0.00
Changes In Cash	-849,000	-111,000	-1.0M	73,000	-4.0M
Beginning Cash Position	13.8M	13.9M	14.9M	14.9M	18.8M
End Cash Position	13.0M	13.8M	13.9M	14.9M	14.9M
Free Cash Flow	-800,000	2,000	-899,000	186,000	1.2M
Asset Impairment Charge	--	--	--	0.00	0.00
Capital Expenditure Reported	39,000	-159,000	-74,000	-62,000	-57,000
Cash Dividends Paid	0.00	--	--	0.00	-5.0M
Change In Account Payable	-134,000	-258,000	267,000	-2.5M	-762,000
Change In Income Tax Payable	-6,000	32,000	-20,000	100,000	439,000
Change In Tax Payable	-6,000	32,000	-20,000	100,000	439,000
Gain Loss On Sale Of PPE	--	--	--	0.00	0.00
Long Term Debt Payments	-88,000	-113,000	-117,000	-113,000	-128,000
Net Foreign Currency Exchange Gain Loss	9,000	0.00	2,000	-51,000	13,000
Net Income From Continuing Operations	-1.3M	-522,000	-1.2M	1.8M	-1.4M
Net Long Term Debt Issuance	-88,000	-113,000	-117,000	-113,000	-128,000
Operating Gains Losses	9,000	--	2,000	-51,000	13,000
Sale Of PPE	--	--	--	--	--