Progressive Planet Solutions Inc.
Financial Statements (IFRS) · Amounts in CAD
Income Statement
Balance Sheet
Cash Flow
| Line Item | FY 2025Apr 30, 2025 | FY 2024Apr 30, 2024 | FY 2023Apr 30, 2023 | FY 2022Apr 30, 2022 | FY 2021Apr 30, 2021 |
|---|---|---|---|---|---|
| Total Revenue | 19.5M | 19.6M | 19.5M | 3.8M | -- |
| Operating Revenue | 19.5M | 19.6M | 19.5M | 3.8M | -- |
| Cost Of Revenue | 13.5M | 13.6M | 14.4M | 3.3M | -- |
| Gross Profit | 6.1M | 6.0M | 5.1M | 484,334 | -- |
| Selling General And Administration | 4.0M | 4.8M | 5.4M | 4.5M | -- |
| General And Administrative Expense | 3.2M | 4.1M | 4.5M | 4.1M | -- |
| Research And Development | 319,212 | 531,397 | 874,758 | 168,010 | -- |
| Other Operating Expenses | -283,322 | -64,169 | -335,560 | -174,808 | -- |
| Operating Expense | 4.0M | 5.3M | 5.9M | 4.5M | -- |
| Operating Income | 2.1M | 742,204 | -804,266 | -4.0M | -- |
| EBIT | 1.8M | 411,301 | -603,894 | -3.2M | -- |
| Interest Expense | 553,754 | 619,772 | 679,792 | 175,443 | -- |
| Interest Expense Non Operating | 553,754 | 619,772 | 679,792 | 175,443 | -- |
| Net Interest Income | -553,754 | -619,772 | -679,792 | -175,443 | -- |
| Other Income Expense | -289,959 | -330,903 | 200,372 | 765,352 | -- |
| Other Non Operating Income Expenses | 133,281 | 103,483 | 64,983 | -73,996 | -- |
| Special Income Charges | 282,464 | -113,730 | 242,026 | -5,515 | -- |
| Restructuring And Mergern Acquisition | 0.00 | -190,285 | -354,857 | 0.00 | -- |
| Gain On Sale Of Security | -705,704 | -320,656 | -106,637 | 844,863 | -- |
| Pretax Income | 1.2M | -208,471 | -1.3M | -3.4M | -- |
| Tax Provision | -442,369 | 184,361 | -119,214 | -110,000 | -- |
| Tax Effect Of Unusual Items | -63,486 | -65,158 | 12,573 | 27,150 | -- |
| Net Income From Continuing And Discontinued Operation | 1.7M | -392,832 | -1.2M | -3.3M | -- |
| Net Income From Continuing Operation Net Minority Interest | 1.7M | -392,832 | -1.2M | -3.3M | -- |
| Net Income Including Noncontrolling Interests | 1.7M | -392,832 | -1.2M | -3.3M | -- |
| Net Income Common Stockholders | 1.7M | -392,832 | -1.2M | -3.3M | -- |
| Net Income | 1.7M | -392,832 | -1.2M | -3.3M | -- |
| EBITDA | 3.2M | 1.4M | 308,254 | -2.9M | -- |
| Normalized EBITDA | 3.6M | 1.8M | 172,865 | -3.7M | -- |
| Reconciled Depreciation | 1.4M | 943,798 | 912,148 | 365,063 | -- |
| Basic EPS | 0.02 | 0.00 | -0.01 | -0.05 | -- |
| Diluted EPS | 0.02 | 0.00 | -0.01 | -0.05 | -- |
| Basic Average Shares | 110.8M | 110.4M | 98.6M | 69.4M | -- |
| Diluted Average Shares | 110.8M | 110.4M | 98.6M | 69.4M | -- |
| Total Unusual Items | -423,240 | -434,386 | 135,389 | 839,348 | -- |
| Total Unusual Items Excluding Goodwill | -423,240 | -434,386 | 135,389 | 839,348 | -- |
| Tax Rate For Calcs | 0.15 | 0.15 | 0.09 | 0.03 | -- |
| Normalized Income | 2.0M | -23,604 | -1.3M | -4.1M | -- |
| Diluted NI Availto Com Stockholders | 1.7M | -392,832 | -1.2M | -3.3M | -- |
| Gain On Sale Of Ppe | 317,490 | 102,796 | -34,277 | -5,515 | -- |
| Impairment Of Capital Assets | 24,059 | 436,763 | 78,554 | 0.00 | -- |
| Net Income Continuous Operations | 1.7M | -392,832 | -1.2M | -3.3M | -- |
| Net Non Operating Interest Income Expense | -553,754 | -619,772 | -679,792 | -175,443 | -- |
| Other Gand A | 1.7M | 1.9M | 2.0M | 1.3M | -- |
| Other Special Charges | 10,967 | -29,952 | -- | -- | -- |
| Reconciled Cost Of Revenue | 13.5M | 13.6M | 14.4M | 3.3M | -- |
| Salaries And Wages | 1.6M | 2.1M | 2.5M | 2.7M | -- |
| Selling And Marketing Expense | 711,272 | 740,617 | 908,671 | 390,992 | -- |
| Total Expenses | 17.4M | 18.9M | 20.3M | 7.8M | -- |
| Total Operating Income As Reported | 1.8M | 678,035 | -1.1M | -4.5M | -- |
| Line Item | FY 2025Apr 30, 2025 | FY 2024Apr 30, 2024 | FY 2023Apr 30, 2023 | FY 2022Apr 30, 2022 | FY 2021Apr 30, 2021 |
|---|---|---|---|---|---|
| Cash And Cash Equivalents | 5.4M | 1.7M | 704,553 | 1.8M | -- |
| Cash Cash Equivalents And Short Term Investments | 5.4M | 1.7M | 704,553 | 1.8M | -- |
| Cash Equivalents | 1.8M | 1.0M | 0.00 | -- | -- |
| Cash Financial | 3.7M | 685,806 | 704,553 | 1.8M | -- |
| Other Short Term Investments | -- | -- | -- | -- | 302,000 |
| Accounts Receivable | 1.3M | 1.3M | 1.5M | 1.6M | -- |
| Receivables | 1.4M | 1.3M | 1.7M | 2.2M | -- |
| Inventory | 2.6M | 2.5M | 3.0M | 3.3M | -- |
| Prepaid Assets | -- | -- | -- | 333,561 | 34,019 |
| Other Current Assets | 602,074 | 224,313 | 201,546 | 333,561 | -- |
| Current Assets | 10.0M | 5.8M | 5.6M | 7.8M | -- |
| Gross PPE | 20.4M | 21.8M | 21.4M | 19.8M | -- |
| Accumulated Depreciation | -3.1M | -2.1M | -1.3M | -559,074 | -- |
| Net PPE | 17.3M | 19.6M | 20.0M | 19.2M | -- |
| Investments And Advances | 660,700 | 892,500 | 1.2M | 1.3M | -- |
| Total Non Current Assets | 18.0M | 20.5M | 21.2M | 20.6M | -- |
| Total Assets | 28.0M | 26.3M | 26.8M | 28.4M | -- |
| Current Debt | 304,077 | 304,077 | 382,029 | 2.1M | -- |
| Current Debt And Capital Lease Obligation | 407,245 | 529,325 | 550,134 | 2.2M | -- |
| Accounts Payable | 2.0M | 1.6M | 1.9M | -- | 201,367 |
| Payables | 2.1M | 1.7M | 2.0M | -- | 201,367 |
| Payables And Accrued Expenses | 2.1M | 1.7M | 2.0M | 1.7M | -- |
| Current Accrued Expenses | -- | -- | -- | -- | 36,000 |
| Current Deferred Revenue | 1.9M | 4,656 | 137,858 | 306,261 | -- |
| Other Current Liabilities | 31,063 | 66,902 | 431,270 | 717,429 | -- |
| Current Liabilities | 4.4M | 2.3M | 3.1M | 5.0M | -- |
| Long Term Debt | 5.8M | 6.1M | 6.4M | 8.1M | -- |
| Long Term Debt And Capital Lease Obligation | 7.4M | 8.5M | 8.7M | 10.4M | -- |
| Long Term Capital Lease Obligation | 1.6M | 2.4M | 2.3M | 2.4M | -- |
| Other Non Current Liabilities | -- | -- | -- | 660,856 | -- |
| Total Non Current Liabilities Net Minority Interest | 9.2M | 11.0M | 10.9M | 13.5M | -- |
| Total Liabilities Net Minority Interest | 13.6M | 13.3M | 14.1M | 18.5M | -- |
| Common Stock | 29.9M | 30.2M | 30.0M | 26.2M | -- |
| Capital Stock | 29.9M | 30.2M | 30.0M | 26.2M | -- |
| Retained Earnings | -21.8M | -23.4M | -23.0M | -21.9M | -- |
| Common Stock Equity | 14.4M | 13.0M | 12.8M | 9.9M | -- |
| Stockholders Equity | 14.4M | 13.0M | 12.8M | 9.9M | -- |
| Total Equity Gross Minority Interest | 14.4M | 13.0M | 12.8M | 9.9M | -- |
| Total Capitalization | 20.2M | 19.1M | 19.1M | 17.9M | -- |
| Net Tangible Assets | 14.4M | 13.0M | 12.8M | 9.9M | -- |
| Tangible Book Value | 14.4M | 13.0M | 12.8M | 9.9M | -- |
| Working Capital | 5.6M | 3.5M | 2.5M | 2.8M | -- |
| Invested Capital | 20.5M | 19.4M | 19.5M | 20.0M | -- |
| Total Debt | 7.8M | 9.1M | 9.2M | 12.7M | -- |
| Net Debt | 715,343 | 4.8M | 6.0M | 8.4M | -- |
| Share Issued | 109.8M | 112.5M | 109.9M | 88.5M | -- |
| Ordinary Shares Number | 109.8M | 112.5M | 109.9M | 88.5M | -- |
| Available For Sale Securities | -- | -- | 1.2M | 1.3M | 302,000 |
| Buildings And Improvements | 2.3M | 2.5M | 2.5M | 4.5M | -- |
| Capital Lease Obligations | 1.7M | 2.6M | 2.5M | 2.6M | -- |
| Current Capital Lease Obligation | 103,168 | 225,248 | 168,105 | 173,134 | -- |
| Current Deferred Liabilities | 1.9M | 4,656 | 137,858 | 306,261 | -- |
| Current Provisions | 20,000 | 25,000 | 25,000 | 25,000 | -- |
| Employee Benefits | -- | -- | -- | 241,694 | 0.00 |
| Financial Assets Designatedas Fair Value Through Profitor Loss Total | 660,700 | 892,500 | 1.2M | 1.3M | -- |
| Finished Goods | 378,199 | 390,961 | 279,961 | 537,456 | -- |
| Investmentin Financial Assets | 660,700 | 892,500 | 1.2M | 1.3M | -- |
| Land And Improvements | 8.7M | 10.2M | 7.9M | 2.5M | -- |
| Line Of Credit | -- | -- | 0.00 | 1.4M | 0.00 |
| Long Term Provisions | 250,439 | 273,577 | 261,150 | 241,694 | -- |
| Machinery Furniture Equipment | 269,235 | 269,235 | 180,655 | 185,763 | -- |
| Non Current Deferred Liabilities | 1.5M | 2.2M | 2.0M | 2.2M | -- |
| Non Current Deferred Taxes Liabilities | 1.5M | 2.2M | 2.0M | 2.2M | -- |
| Non Current Pension And Other Postretirement Benefit Plans | -- | -- | -- | 241,694 | 0.00 |
| Other Current Borrowings | 304,077 | 304,077 | 382,029 | 647,075 | -- |
| Other Equity Interest | 6.2M | 6.2M | 5.8M | 5.6M | -- |
| Other Payable | 27,238 | 102,353 | 45,950 | -- | -- |
| Other Properties | 9.2M | 8.8M | 10.8M | 12.7M | -- |
| Other Receivables | 48,998 | 42,513 | 47,411 | 148,895 | -- |
| Pensionand Other Post Retirement Benefit Plans Current | -- | -- | -- | 25,000 | 0.00 |
| Properties | 0.00 | 0.00 | 0.00 | 0.00 | -- |
| Raw Materials | 2.2M | 2.1M | 2.8M | 2.7M | -- |
| Restricted Cash | -- | -- | 0.00 | 266,000 | 0.00 |
| Taxes Receivable | 6,211 | 5,752 | 130,132 | 407,341 | -- |
| Line Item | FY 2025Apr 30, 2025 | FY 2024Apr 30, 2024 | FY 2023Apr 30, 2023 | FY 2022Apr 30, 2022 | FY 2021Apr 30, 2021 |
|---|---|---|---|---|---|
| Operating Cash Flow | 5.1M | 2.6M | 1.6M | -2.2M | -- |
| Cash Flow From Continuing Operating Activities | 5.1M | 2.6M | 1.6M | -2.2M | -- |
| Depreciation And Amortization | 1.4M | 912,207 | 879,382 | 358,388 | -- |
| Depreciation Amortization Depletion | 1.4M | 943,798 | 912,148 | 365,063 | -- |
| Stock Based Compensation | 4,509 | 435,140 | 288,324 | 1.5M | -- |
| Deferred Tax | -684,165 | 188,073 | -140,666 | -110,000 | -- |
| Deferred Income Tax | -684,165 | 188,073 | -140,666 | -110,000 | -- |
| Change In Working Capital | 1.8M | 373,581 | 1.1M | 22,909 | -- |
| Changes In Account Receivables | -14,505 | 334,265 | 394,355 | 191,045 | -- |
| Change In Receivables | -14,505 | 334,265 | 394,355 | 191,045 | -- |
| Change In Inventory | -74,313 | 525,565 | 213,160 | 718,644 | -- |
| Change In Payables And Accrued Expense | 404,347 | -330,280 | 253,290 | -668,087 | -- |
| Change In Other Working Capital | 1.9M | -133,202 | 97,597 | -114,301 | -- |
| Change In Other Current Liabilities | -- | -- | -- | -807,586 | 0.00 |
| Other Non Cash Items | 559,534 | 594,046 | 663,546 | 167,419 | -- |
| Capital Expenditure | -1.0M | -836,205 | -1.8M | -517,184 | -- |
| Purchase Of PPE | -1.0M | -836,205 | -1.8M | -517,184 | -- |
| Net PPE Purchase And Sale | 304,607 | -586,953 | -1.8M | -517,184 | -- |
| Purchase Of Business | -397,892 | 0.00 | -- | -11.1M | 0.00 |
| Sale Of Business | -- | 0.00 | 130,000 | -- | -- |
| Purchase Of Investment | -- | -- | 0.00 | -600,000 | 0.00 |
| Sale Of Investment | -- | -- | 0.00 | 748,838 | 118,000 |
| Net Investment Purchase And Sale | -- | -- | 0.00 | 148,838 | 118,000 |
| Investing Cash Flow | -93,285 | -586,953 | -1.6M | -11.5M | -- |
| Cash Flow From Continuing Investing Activities | -93,285 | -586,953 | -1.6M | -11.5M | -- |
| Issuance Of Debt | 0.00 | 92,662 | 0.00 | 8.7M | -- |
| Repayment Of Debt | -975,392 | -1.1M | -4.2M | -1.3M | -- |
| Net Issuance Payments Of Debt | -975,392 | -1.0M | -4.2M | 7.4M | -- |
| Issuance Of Capital Stock | -- | 0.00 | 1.2M | 6.2M | 2.7M |
| Repurchase Of Capital Stock | -288,481 | 0.00 | -- | -- | -- |
| Net Common Stock Issuance | -288,481 | 0.00 | 1.2M | 6.2M | -- |
| Common Stock Payments | -288,481 | 0.00 | -- | -- | -- |
| Financing Cash Flow | -1.3M | -1.0M | -1.0M | 14.1M | -- |
| Cash Flow From Continuing Financing Activities | -1.3M | -1.0M | -1.0M | 14.1M | -- |
| Changes In Cash | 3.7M | 981,253 | -1.1M | 432,099 | -- |
| Beginning Cash Position | 1.7M | 704,553 | 1.8M | 1.3M | -- |
| End Cash Position | 5.4M | 1.7M | 704,553 | 1.8M | -- |
| Free Cash Flow | 4.1M | 1.7M | -170,988 | -2.7M | -- |
| Asset Impairment Charge | 24,059 | 436,763 | 78,554 | 0.00 | -- |
| Change In Prepaid Assets | -377,761 | -22,767 | 132,015 | -104,392 | -- |
| Common Stock Issuance | -- | 0.00 | 1.2M | 6.2M | 2.7M |
| Depletion | 27,363 | 31,591 | 32,766 | 6,675 | -- |
| Depreciation | -- | -- | -- | -- | 151,726 |
| Gain Loss On Investment Securities | -22,808 | -190,285 | -4,929 | -446,838 | -- |
| Gain Loss On Sale Of PPE | -317,490 | -102,796 | 34,277 | 5,515 | -- |
| Long Term Debt Issuance | 0.00 | 92,662 | 0.00 | 8.7M | -- |
| Long Term Debt Payments | -975,167 | -1.1M | -2.7M | -429,273 | -- |
| Net Business Purchase And Sale | -397,892 | 0.00 | 130,000 | -11.1M | -- |
| Net Foreign Currency Exchange Gain Loss | -35,839 | 29,060 | 37,842 | 0.00 | -- |
| Net Income From Continuing Operations | 1.7M | -392,832 | -1.2M | -3.3M | -- |
| Net Intangibles Purchase And Sale | -- | -- | -- | -- | 0.00 |
| Net Long Term Debt Issuance | -975,167 | -1.0M | -2.7M | 8.3M | -- |
| Net Other Financing Charges | -- | -- | -28,075 | -195,619 | -88,600 |
| Net Short Term Debt Issuance | -225.00 | -3,546 | -1.5M | -823,708 | -- |
| Operating Gains Losses | -376,137 | -284,021 | 67,190 | -441,323 | -- |
| Proceeds From Stock Option Exercised | -- | 0.00 | 1.9M | 656,713 | 295,920 |
| Purchase Of Intangibles | -- | -- | -870,000 | -- | -- |
| Sale Of Intangibles | -- | -- | -- | -- | 0.00 |
| Sale Of PPE | 1.3M | 249,252 | 0.00 | -- | -- |
| Short Term Debt Payments | -225.00 | -3,546 | -1.5M | -823,708 | -- |
| Unrealized Gain Loss On Investment Securities | 652,500 | 277,500 | -189,428 | -382,500 | -- |