Northstar Clean Technologies Inc.
Financial Statements (IFRS) · Amounts in CAD
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 | 121,930 | 142,487 | 175,517 | 165,186 | 164,669 |
| Operating Revenue | 121,930 | 142,487 | 175,517 | 165,186 | 164,669 |
| Cost Of Revenue | 114,131 | -52,293 | 223,307 | 227,257 | 202,766 |
| Gross Profit | 7,799 | 194,780 | -47,790 | -62,071 | -38,097 |
| Selling General And Administration | 2.3M | 1.8M | 1.4M | 1.9M | 1.2M |
| General And Administrative Expense | 2.1M | 1.7M | 1.3M | 2.2M | 1.0M |
| Research And Development | -- | -- | -- | 0.00 | 0.00 |
| Depreciation And Amortization In Income Statement | 323,574 | 328,050 | 325,394 | 328,368 | 322,369 |
| Other Operating Expenses | -- | -6,275 | -- | -- | 48,697 |
| Operating Expense | 2.6M | 2.2M | 1.7M | 2.3M | 1.5M |
| Operating Income | -2.6M | -2.0M | -1.8M | -2.3M | -1.5M |
| EBIT | -3.0M | -2.2M | -2.1M | -2.5M | -2.6M |
| Interest Expense | 922,820 | 940,807 | 814,314 | 640,835 | 628,259 |
| Interest Expense Non Operating | 922,820 | 940,807 | 814,314 | 640,835 | 628,259 |
| Interest Income | 2,689 | 29,475 | 11,501 | 156.00 | 620.00 |
| Interest Income Non Operating | 2,689 | 29,475 | 11,501 | 156.00 | 620.00 |
| Net Interest Income | -920,131 | -911,332 | -802,813 | -640,679 | -627,639 |
| Other Income Expense | -410,221 | -263,332 | -356,291 | -195,065 | -1.1M |
| Other Non Operating Income Expenses | -371,175 | -280,586 | -353,500 | -350,000 | -70,000 |
| Special Income Charges | -35,622 | -- | -- | 150,556 | -986,239 |
| Restructuring And Mergern Acquisition | 0.00 | -- | -- | 0.00 | 986,239 |
| Gain On Sale Of Security | -3,424 | 17,254 | -2,791 | 4,379 | -11,349 |
| Pretax Income | -3.9M | -3.1M | -2.9M | -3.2M | -3.2M |
| Tax Provision | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Tax Effect Of Unusual Items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income From Continuing And Discontinued Operation | -3.9M | -3.1M | -2.9M | -3.2M | -3.2M |
| Net Income From Continuing Operation Net Minority Interest | -3.9M | -3.1M | -2.9M | -3.2M | -3.2M |
| Net Income Including Noncontrolling Interests | -3.9M | -3.1M | -2.9M | -3.2M | -3.2M |
| Net Income Common Stockholders | -3.9M | -3.1M | -2.9M | -3.2M | -3.2M |
| Net Income | -3.9M | -3.1M | -2.9M | -3.2M | -3.2M |
| EBITDA | -2.7M | -1.9M | -1.8M | -2.2M | -2.3M |
| Normalized EBITDA | -2.7M | -1.9M | -1.8M | -2.4M | -1.3M |
| Reconciled Depreciation | 323,574 | 328,050 | 325,394 | 328,368 | 322,369 |
| Basic EPS | -0.03 | -0.02 | -0.02 | -- | -0.03 |
| Diluted EPS | -0.03 | -0.02 | -0.02 | -- | -0.03 |
| Basic Average Shares | 146.5M | 136.4M | 132.9M | -- | 127.7M |
| Diluted Average Shares | 146.5M | 136.4M | 132.9M | -- | 127.7M |
| Total Unusual Items | -39,046 | 17,254 | -2,791 | 154,935 | -997,588 |
| Total Unusual Items Excluding Goodwill | -39,046 | 17,254 | -2,791 | 154,935 | -997,588 |
| Tax Rate For Calcs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Normalized Income | -3.9M | -3.1M | -2.9M | -3.3M | -2.2M |
| Amortization | -- | -- | 647.00 | -- | -- |
| Amortization Of Intangibles Income Statement | -- | -- | 647.00 | -- | -- |
| Depreciation Amortization Depletion Income Statement | 323,574 | 328,050 | 325,394 | 328,368 | 322,369 |
| Depreciation Income Statement | -- | -- | 324,747 | -- | -- |
| Diluted NI Availto Com Stockholders | -3.9M | -3.1M | -2.9M | -3.2M | -3.2M |
| Gain On Sale Of Ppe | -35,622 | -- | -- | -- | 0.00 |
| Insurance And Claims | 68,448 | 53,345 | 80,494 | 81,370 | 49,413 |
| Net Income Continuous Operations | -3.9M | -3.1M | -2.9M | -3.2M | -3.2M |
| Net Non Operating Interest Income Expense | -920,131 | -911,332 | -802,813 | -640,679 | -627,639 |
| Other Gand A | 439,166 | 599,235 | 293,551 | 3.4M | 182,233 |
| Other Taxes | 0.00 | -- | -- | -- | 0.00 |
| Reconciled Cost Of Revenue | 114,131 | -52,293 | 223,307 | 227,257 | 202,766 |
| Rent And Landing Fees | 465,851 | 324,259 | 180,546 | 139,350 | 135,454 |
| Rent Expense Supplemental | 465,851 | 324,259 | 180,546 | 139,350 | 135,454 |
| Salaries And Wages | 1.2M | 736,507 | 716,154 | -1.4M | 680,348 |
| Selling And Marketing Expense | 156,735 | 115,130 | 146,884 | -- | 104,039 |
| Total Expenses | 2.7M | 2.1M | 2.0M | 2.5M | 1.7M |
| Total Operating Income As Reported | -2.6M | -2.0M | -1.8M | -- | -1.5M |
| 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 | 2.0M | 2.0M | 2.9M | 10.2M | 15.6M |
| Cash Cash Equivalents And Short Term Investments | 2.0M | 2.0M | 2.9M | 10.2M | 15.6M |
| Cash Financial | -- | -- | -- | 10.2M | 15.6M |
| Other Short Term Investments | -- | -- | -- | 0.00 | 12,499 |
| Accounts Receivable | 54,031 | 109,933 | 83,547 | 93,051 | 82,658 |
| Receivables | 176,584 | 371,323 | 772,364 | 519,902 | 577,998 |
| Inventory | 110,745 | 77,489 | -- | -- | -- |
| Prepaid Assets | 81,682 | 59,970 | 96,916 | 244,146 | 328,017 |
| Current Assets | 2.3M | 2.6M | 3.7M | 11.0M | 16.5M |
| Gross PPE | 46.9M | 46.0M | 47.6M | 36.4M | 23.0M |
| Accumulated Depreciation | -4.7M | -4.5M | -4.2M | -3.8M | -3.7M |
| Net PPE | 42.2M | 41.5M | 43.5M | 32.6M | 19.3M |
| Goodwill And Other Intangible Assets | 126,109 | 123,695 | 118,372 | 101,579 | 77,739 |
| Other Intangible Assets | 126,109 | 123,695 | 118,372 | 101,579 | 77,739 |
| Total Non Current Assets | 44.5M | 43.8M | 45.7M | 34.7M | 20.5M |
| Total Assets | 46.8M | 46.3M | 49.4M | 45.7M | 36.9M |
| Current Debt | 2.4M | 2.2M | 864,401 | 447,994 | 367,540 |
| Current Debt And Capital Lease Obligation | 2.5M | 2.2M | 903,718 | 1.1M | 1.0M |
| Accounts Payable | 2.2M | 1.6M | 2.8M | 5.0M | 4.7M |
| Payables | 2.8M | 2.0M | 3.2M | 5.1M | 5.6M |
| Payables And Accrued Expenses | 2.8M | 2.0M | 3.2M | 5.1M | 5.6M |
| Current Deferred Revenue | 926,084 | -- | -- | -- | -- |
| Current Liabilities | 6.2M | 4.2M | 4.1M | 6.2M | 6.7M |
| Long Term Debt | 29.1M | 28.8M | 29.3M | 29.3M | 22.9M |
| Long Term Debt And Capital Lease Obligation | 45.1M | 45.4M | 45.9M | 38.1M | 26.0M |
| Long Term Capital Lease Obligation | 16.0M | 16.6M | 16.6M | 8.9M | 3.1M |
| Total Non Current Liabilities Net Minority Interest | 46.9M | 48.2M | 48.7M | 40.9M | 29.1M |
| Total Liabilities Net Minority Interest | 53.1M | 52.4M | 52.8M | 47.1M | 35.7M |
| Common Stock | 33.5M | 30.1M | 29.5M | 28.9M | 28.5M |
| Capital Stock | 39.2M | 35.7M | 35.2M | 34.5M | 34.1M |
| Retained Earnings | -52.2M | -48.3M | -45.2M | -42.2M | -39.0M |
| Gains Losses Not Affecting Retained Earnings | 6.8M | 6.4M | 6.5M | 6.3M | 6.1M |
| Common Stock Equity | -11.9M | -11.8M | -9.1M | -7.0M | -4.4M |
| Stockholders Equity | -6.2M | -6.1M | -3.5M | -1.3M | 1.2M |
| Total Equity Gross Minority Interest | -6.2M | -6.1M | -3.5M | -1.3M | 1.2M |
| Total Capitalization | 22.8M | 22.6M | 25.9M | 27.9M | 24.1M |
| Net Tangible Assets | -6.4M | -6.3M | -3.6M | -1.4M | 1.1M |
| Tangible Book Value | -12.0M | -11.9M | -9.2M | -7.1M | -4.5M |
| Working Capital | -3.8M | -1.7M | -426,551 | 4.8M | 9.8M |
| Invested Capital | 19.6M | 19.2M | 21.1M | 22.8M | 18.8M |
| Total Debt | 47.5M | 47.6M | 46.8M | 39.2M | 27.1M |
| Net Debt | 29.5M | 28.9M | 27.3M | 19.5M | 7.7M |
| Share Issued | 150.9M | 137.4M | 134.3M | 130.9M | 128.8M |
| Ordinary Shares Number | 150.9M | 137.4M | 134.3M | 130.9M | 128.8M |
| Capital Lease Obligations | 16.1M | 16.7M | 16.6M | 9.5M | 3.8M |
| Construction In Progress | 24.7M | 22.9M | 24.5M | 20.4M | 13.6M |
| Current Capital Lease Obligation | 77,085 | 40,103 | 39,317 | 611,931 | 662,165 |
| Current Deferred Liabilities | 926,084 | -- | -- | -- | -- |
| Dueto Related Parties Current | 517,520 | 387,747 | 408,517 | -- | 932,115 |
| Leases | 18.8M | 19.4M | 19.4M | 12.3M | 5.7M |
| Long Term Provisions | -- | -- | -- | -- | 271,000 |
| Machinery Furniture Equipment | 165,143 | 165,143 | 162,653 | 156,084 | 102,528 |
| Non Current Accrued Expenses | -- | -- | -- | -- | -- |
| Non Current Deferred Assets | 0.00 | 0.00 | 18,063 | 15,913 | 184,192 |
| Non Current Deferred Liabilities | 1.9M | 2.8M | 2.8M | 2.8M | 2.8M |
| Non Current Deferred Revenue | 1.9M | 2.8M | 2.8M | 2.8M | 2.8M |
| Non Current Prepaid Assets | 2.1M | 2.1M | 2.1M | 2.1M | 892,417 |
| Other Current Borrowings | 2.4M | 2.2M | 864,401 | 447,994 | 367,540 |
| Other Equity Interest | 17,878 | -- | 10,000 | 3,809 | -- |
| Other Payable | 38,294 | 38,294 | 51,115 | 51,882 | 62,346 |
| Other Properties | 3.2M | 3.5M | 3.5M | 3.5M | 3.5M |
| Preferred Stock | 5.6M | 5.6M | 5.6M | 5.6M | 5.6M |
| Preferred Stock Equity | 5.6M | 5.6M | 5.6M | 5.6M | 5.6M |
| Properties | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Taxes Receivable | 122,553 | 261,390 | 688,817 | 426,851 | 495,340 |
| Tradeand Other Payables Non Current | -- | -- | -- | 0.00 | 0.00 |
| 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 | -1.5M | -918,205 | -2.3M | -1.7M | -1.6M |
| Cash Flow From Continuing Operating Activities | -1.5M | -918,205 | -2.3M | -1.7M | -1.6M |
| Depreciation And Amortization | 323,574 | 328,050 | 325,394 | 328,368 | 322,369 |
| Depreciation Amortization Depletion | 323,574 | 328,050 | 325,394 | 328,368 | 322,369 |
| Stock Based Compensation | 358,868 | 137,436 | 195,591 | 223,702 | 86,884 |
| Deferred Tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Deferred Income Tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Change In Working Capital | 480,939 | 274,594 | -1.2M | 26,668 | 468,044 |
| Changes In Account Receivables | -- | -43,771 | 9,504 | -- | 75,653 |
| Change In Receivables | -- | 383,656 | -252,462 | -- | -96,802 |
| Change In Inventory | -- | -77,489 | -- | -- | -- |
| Change In Payables And Accrued Expense | -- | -68,519 | -1.1M | -- | -215,863 |
| Other Non Cash Items | 919,742 | 1.1M | 976,823 | 657,748 | 603,687 |
| Capital Expenditure | -1.7M | -2.0M | -4.1M | -9.5M | -6.5M |
| Purchase Of PPE | -1.7M | -1.9M | -4.1M | -9.5M | -6.5M |
| Net PPE Purchase And Sale | -1.7M | -1.9M | -4.1M | -9.5M | -6.5M |
| Purchase Of Investment | 0.00 | -68,213 | -- | -- | 0.00 |
| Net Investment Purchase And Sale | 0.00 | -68,213 | -- | -- | 0.00 |
| Investing Cash Flow | -1.2M | 470,852 | -4.8M | -10.1M | -3.2M |
| Cash Flow From Continuing Investing Activities | -1.2M | 470,852 | -4.8M | -10.1M | -3.2M |
| Issuance Of Debt | 0.00 | 617,698 | 0.00 | 5.8M | 15.3M |
| Repayment Of Debt | -721,891 | -601,604 | -448,998 | -314,532 | -232,520 |
| Net Issuance Payments Of Debt | -721,891 | 16,094 | -448,998 | 5.5M | 15.1M |
| Issuance Of Capital Stock | 3.4M | -- | -- | 0.00 | 0.00 |
| Repurchase Of Capital Stock | 0.00 | -12,821 | -- | -46,326 | 0.00 |
| Net Common Stock Issuance | 3.4M | -12,821 | -- | -46,326 | 0.00 |
| Common Stock Payments | 0.00 | -12,821 | -- | -46,326 | 0.00 |
| Financing Cash Flow | 2.6M | -361,277 | -227,656 | 6.4M | 14.8M |
| Cash Flow From Continuing Financing Activities | 2.6M | -361,277 | -227,656 | 6.4M | 14.8M |
| Effect Of Exchange Rate Changes | 246.00 | -3,331 | -567.00 | 38,537 | -24,552 |
| Changes In Cash | -69,737 | -808,630 | -7.4M | -5.4M | 10.0M |
| Beginning Cash Position | 2.0M | 2.9M | 10.2M | 15.6M | 5.6M |
| End Cash Position | 2.0M | 2.0M | 2.9M | 10.2M | 15.6M |
| Free Cash Flow | -3.1M | -2.9M | -6.4M | -11.2M | -8.1M |
| Interest Paid Supplemental Data | 199,319 | 685,447 | 190,272 | 638,726 | 245,108 |
| Cash Dividends Paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Change In Prepaid Assets | -- | 36,946 | 147,230 | -- | -205,530 |
| Common Stock Issuance | 3.4M | -- | -- | 0.00 | 0.00 |
| Interest Paid Cff | -26,250 | -517,937 | -30,861 | -556,714 | -245,106 |
| Long Term Debt Issuance | 0.00 | 617,698 | 0.00 | 5.8M | 15.3M |
| Long Term Debt Payments | -721,891 | -601,604 | -448,998 | -314,532 | -232,520 |
| Net Foreign Currency Exchange Gain Loss | 4,450 | -11,872 | -3,134 | -32,625 | 16,383 |
| Net Income From Continuing Operations | -3.9M | -3.1M | -2.9M | -3.2M | -3.2M |
| Net Intangibles Purchase And Sale | -3,174 | -5,970 | -17,440 | -24,487 | -16,856 |
| Net Long Term Debt Issuance | -721,891 | 16,094 | -448,998 | 5.5M | 15.1M |
| Net Other Financing Charges | -53,650 | -20,113 | -2,150 | 1.4M | 1,719 |
| Net Other Investing Changes | 475,369 | 2.5M | -707,718 | -992,117 | 3.2M |
| Net Preferred Stock Issuance | -- | -- | -- | 0.00 | -- |
| Operating Gains Losses | 40,072 | -11,872 | -3,134 | -183,181 | 16,383 |
| Preferred Stock Issuance | -- | -- | -- | 0.00 | -- |
| Proceeds From Stock Option Exercised | 4,060 | 173,500 | 254,353 | -- | 0.00 |
| Purchase Of Intangibles | -3,174 | -5,970 | -17,440 | -24,487 | -16,856 |
| Unrealized Gain Loss On Investment Securities | 371,175 | 367,500 | 353,500 | -- | 70,000 |