The Western Investment Company of Canada Limited
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 | 8.1M | 172,500 | 284,271 | 270,000 |
| Operating Revenue | 8.1M | 172,500 | 284,271 | 270,000 |
| Cost Of Revenue | 8.9M | 447,592 | 378,154 | 383,157 |
| Gross Profit | -791,892 | -275,092 | -93,883 | -113,157 |
| Selling General And Administration | 1.7M | 420,170 | 315,725 | 302,044 |
| General And Administrative Expense | 1.7M | 420,170 | 315,725 | 302,044 |
| Depreciation And Amortization In Income Statement | 28,622 | 0.00 | -- | -- |
| Other Operating Expenses | 95,724 | 41,803 | 77,288 | 63,788 |
| Operating Expense | 1.8M | 461,973 | 393,013 | 365,832 |
| Operating Income | -2.6M | -737,065 | -486,896 | -478,989 |
| EBIT | 1.6M | 898,345 | 451,737 | -100,783 |
| Interest Expense | 542,720 | 792,516 | 667,113 | 606,461 |
| Interest Expense Non Operating | 542,720 | 792,516 | 667,113 | 606,461 |
| Interest Income | 844,168 | 605,278 | 601,682 | 66,045 |
| Interest Income Non Operating | 844,168 | 605,278 | 601,682 | 66,045 |
| Net Interest Income | 301,448 | -187,238 | -65,431 | -540,416 |
| Other Income Expense | 3.3M | 1.0M | 336,951 | 312,161 |
| Special Income Charges | 2.6M | -205,109 | 950,638 | 0.00 |
| Earnings From Equity Interest | 733,778 | 1.2M | -613,687 | 312,161 |
| Pretax Income | 1.1M | 105,829 | -215,376 | -707,244 |
| Tax Provision | 26,755 | -96,138 | 0.00 | -- |
| Tax Effect Of Unusual Items | 65,229 | -82,044 | 0.00 | 0.00 |
| Net Income From Continuing And Discontinued Operation | 1.3M | 201,967 | -215,376 | -707,244 |
| Net Income From Continuing Operation Net Minority Interest | 1.3M | 201,967 | -215,376 | -707,244 |
| Net Income Including Noncontrolling Interests | 1.0M | 201,967 | -215,376 | -707,244 |
| Minority Interests | 35,672 | 0.00 | -- | -- |
| Net Income Common Stockholders | 1.3M | 201,967 | -215,376 | -707,244 |
| Net Income | 1.3M | 201,967 | -215,376 | -707,244 |
| EBITDA | 1.7M | 903,845 | 451,737 | -100,783 |
| Normalized EBITDA | -910,149 | 1.1M | -498,901 | -100,783 |
| Reconciled Depreciation | 79,022 | 5,500 | -- | -- |
| Basic EPS | 0.03 | 0.01 | -0.01 | -0.02 |
| Diluted EPS | 0.03 | 0.00 | -0.01 | -0.02 |
| Basic Average Shares | 42.8M | 30.2M | 34.3M | 34.4M |
| Diluted Average Shares | 43.2M | 30.5M | 34.5M | 34.5M |
| Total Unusual Items | 2.6M | -205,109 | 950,638 | 0.00 |
| Total Unusual Items Excluding Goodwill | 2.6M | -205,109 | 950,638 | 0.00 |
| Tax Rate For Calcs | 0.03 | 0.40 | 0.00 | 0.00 |
| Normalized Income | -1.2M | 325,032 | -1.2M | -707,244 |
| Depreciation Amortization Depletion Income Statement | 28,622 | 0.00 | -- | -- |
| Depreciation Income Statement | 28,622 | 0.00 | -- | -- |
| Diluted NI Availto Com Stockholders | 1.3M | 201,967 | -215,376 | -707,244 |
| Gain On Sale Of Business | 2.6M | 485.00 | 950,638 | 0.00 |
| Net Income Continuous Operations | 1.0M | 201,967 | -215,376 | -707,244 |
| Net Non Operating Interest Income Expense | 301,448 | -187,238 | -65,431 | -540,416 |
| Other Gand A | 1.5M | 363,657 | 263,761 | 237,604 |
| Other Special Charges | -- | 205,594 | -- | -- |
| Reconciled Cost Of Revenue | 8.9M | 442,092 | 378,154 | 383,157 |
| Salaries And Wages | 191,672 | 56,513 | 51,964 | 64,440 |
| Total Expenses | 10.7M | 909,565 | 771,167 | 748,989 |
| Line Item | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|
| Cash And Cash Equivalents | 43.2M | 618,673 | 25,715 | 23,318 |
| Cash Cash Equivalents And Short Term Investments | 49.0M | 618,673 | 25,715 | 23,318 |
| Cash Financial | -- | 618,673 | 25,715 | 23,318 |
| Other Short Term Investments | 5.7M | -- | -- | -- |
| Accounts Receivable | 50,263 | 12,687 | 371.00 | 0.00 |
| Receivables | 22.4M | 752,892 | 382,929 | 22,223 |
| Prepaid Assets | 261,861 | 24,764 | 7,642 | 5,799 |
| Current Assets | 71.6M | 1.4M | 416,286 | 51,340 |
| Gross PPE | 173,071 | 0.00 | -- | -- |
| Net PPE | 173,071 | 0.00 | -- | -- |
| Goodwill | 7.7M | 0.00 | -- | -- |
| Goodwill And Other Intangible Assets | 9.6M | 0.00 | -- | -- |
| Other Intangible Assets | 1.9M | -- | -- | -- |
| Investments And Advances | 22.3M | 18.5M | 17.3M | 17.7M |
| Long Term Equity Investment | 16.2M | 18.5M | 17.3M | 17.7M |
| Other Investments | -- | 0.00 | -- | -- |
| Total Non Current Assets | 32.1M | 18.5M | 18.2M | 18.4M |
| Total Assets | 103.7M | 19.9M | 18.6M | 18.5M |
| Current Debt | -- | 1.1M | -- | 1.0M |
| Current Debt And Capital Lease Obligation | 69,447 | 1.1M | -- | 1.0M |
| Accounts Payable | 2.2M | 358,441 | -- | -- |
| Payables | 4.0M | 358,441 | -- | -- |
| Payables And Accrued Expenses | 4.0M | 358,441 | 154,512 | 144,742 |
| Current Deferred Revenue | 32.5M | 0.00 | -- | -- |
| Current Liabilities | 36.6M | 358,441 | 154,512 | 1.2M |
| Long Term Debt | 5.8M | 6.7M | 6.1M | 4.6M |
| Long Term Debt And Capital Lease Obligation | 5.9M | 6.7M | 6.1M | 4.6M |
| Long Term Capital Lease Obligation | 66,890 | 0.00 | -- | -- |
| Other Non Current Liabilities | 213,891 | -- | -- | -- |
| Total Non Current Liabilities Net Minority Interest | 6.4M | 6.7M | 6.1M | 4.6M |
| Total Liabilities Net Minority Interest | 43.0M | 7.1M | 6.2M | 5.8M |
| Common Stock | 46.2M | 15.6M | 15.7M | 15.7M |
| Capital Stock | 46.2M | 15.6M | 15.7M | 15.7M |
| Additional Paid In Capital | 19.1M | 2.0M | 1.5M | 1.4M |
| Retained Earnings | -5.9M | -5.6M | -5.6M | -5.2M |
| Treasury Stock | -- | -- | -- | 0.00 |
| Gains Losses Not Affecting Retained Earnings | -22,659 | 22,978 | 22,978 | 22,978 |
| Other Equity Adjustments | -22,659 | 22,978 | 22,978 | 22,978 |
| Common Stock Equity | 59.7M | 12.8M | 12.4M | 12.7M |
| Stockholders Equity | 59.7M | 12.8M | 12.4M | 12.7M |
| Total Equity Gross Minority Interest | 60.7M | 12.8M | 12.4M | 12.7M |
| Minority Interest | 1.1M | 0.00 | -- | -- |
| Total Capitalization | 65.5M | 19.5M | 18.5M | 17.3M |
| Net Tangible Assets | 50.1M | 12.8M | 12.4M | 12.7M |
| Tangible Book Value | 50.1M | 12.8M | 12.4M | 12.7M |
| Working Capital | 35.0M | 1.0M | 261,774 | -1.1M |
| Invested Capital | 65.5M | 19.5M | 18.5M | 18.3M |
| Total Debt | 6.0M | 6.7M | 6.1M | 5.6M |
| Net Debt | -- | 6.1M | 6.1M | 5.6M |
| Share Issued | 148.3M | 34.1M | 34.2M | 34.3M |
| Ordinary Shares Number | 148.3M | 34.1M | 34.2M | 34.3M |
| Accrued Interest Receivable | 75,857 | 0.00 | -- | -- |
| Capital Lease Obligations | 136,337 | 0.00 | -- | -- |
| Current Capital Lease Obligation | 69,447 | -- | -- | -- |
| Current Deferred Liabilities | 32.5M | 0.00 | -- | -- |
| Duefrom Related Parties Current | 19,687 | 0.00 | 382,558 | 22,223 |
| Duefrom Related Parties Non Current | -- | 740,205 | 861,716 | 765,432 |
| Dueto Related Parties Current | 234,966 | 0.00 | -- | -- |
| Financial Assets Designatedas Fair Value Through Profitor Loss Total | 6.1M | -- | -- | -- |
| Income Tax Payable | 84,641 | 0.00 | -- | -- |
| Investmentin Financial Assets | 6.1M | -- | -- | -- |
| Investmentsin Associatesat Cost | 16.2M | 18.5M | 17.3M | 17.7M |
| Line Of Credit | -- | -- | -- | 1.0M |
| Loans Receivable | 1.1M | 740,205 | -- | -- |
| Non Current Accounts Receivable | -- | 740,205 | 861,716 | 765,432 |
| Non Current Deferred Liabilities | 260,668 | 0.00 | -- | -- |
| Non Current Deferred Taxes Liabilities | 260,668 | 0.00 | -- | -- |
| Notes Receivable | 163,049 | 0.00 | -- | -- |
| Other Current Borrowings | -- | 1.1M | -- | 1.0M |
| Other Equity Interest | 400,908 | 623,176 | 793,815 | 793,815 |
| Other Payable | 1.5M | -- | -- | -- |
| Other Properties | 173,071 | -- | -- | -- |
| Other Receivables | 21.0M | -- | -- | -- |
| Total Tax Payable | 84,641 | 0.00 | -- | -- |
| Line Item | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|
| Operating Cash Flow | 257,015 | -15,807 | -588,584 | -707,648 |
| Cash Flow From Continuing Operating Activities | 257,015 | -15,807 | -588,584 | -707,648 |
| Depreciation And Amortization | 79,022 | 5,500 | -- | -- |
| Depreciation Amortization Depletion | 79,022 | 5,500 | -- | -- |
| Stock Based Compensation | 191,672 | 56,513 | 51,964 | 64,440 |
| Deferred Tax | -137,306 | -96,138 | 0.00 | -- |
| Deferred Income Tax | -137,306 | -96,138 | 0.00 | -- |
| Change In Working Capital | 1.9M | 551,547 | -352,779 | 22,772 |
| Changes In Account Receivables | -37,574 | -12,316 | -371.00 | 0.00 |
| Change In Receivables | -8.4M | -12,316 | -360,706 | 0.00 |
| Change In Payables And Accrued Expense | 1.1M | 586,485 | 9,770 | -1,251 |
| Change In Payable | 1.1M | 586,485 | 9,770 | -1,251 |
| Change In Other Working Capital | 9.2M | -- | -- | -- |
| Change In Other Current Assets | -- | -- | -360,335 | 23,715 |
| Other Non Cash Items | 771,369 | 630,972 | 564,558 | 224,545 |
| Capital Expenditure | -28,188 | -- | -- | -- |
| Sale Of Business | 10.0M | 0.00 | 535,175 | 0.00 |
| Purchase Of Investment | -433,451 | 0.00 | -- | -- |
| Sale Of Investment | 1.3M | 0.00 | -- | -- |
| Net Investment Purchase And Sale | 848,908 | 0.00 | -- | -- |
| Investing Cash Flow | 10.4M | 226,512 | 576,891 | 163,768 |
| Cash Flow From Continuing Investing Activities | 10.4M | 226,512 | 576,891 | 163,768 |
| Issuance Of Debt | 0.00 | 2.1M | 201,149 | 237,500 |
| Repayment Of Debt | -1.2M | -1.3M | 0.00 | -- |
| Net Issuance Payments Of Debt | -1.2M | 819,684 | 201,149 | 237,500 |
| Issuance Of Capital Stock | 36.3M | 0.00 | -- | -- |
| Repurchase Of Capital Stock | 0.00 | -29,726 | -19,045 | -36,199 |
| Net Common Stock Issuance | 36.3M | -29,726 | -19,045 | -36,199 |
| Common Stock Dividend Paid | 0.00 | -151,039 | -151,514 | -- |
| Common Stock Payments | 0.00 | -29,726 | -19,045 | -36,199 |
| Financing Cash Flow | 32.0M | 382,253 | 14,090 | 201,301 |
| Cash Flow From Continuing Financing Activities | 32.0M | 382,253 | 14,090 | 201,301 |
| Changes In Cash | 42.6M | 592,958 | 2,397 | -342,579 |
| Beginning Cash Position | 618,673 | 25,715 | 23,318 | 365,897 |
| End Cash Position | 43.2M | 618,673 | 25,715 | 23,318 |
| Free Cash Flow | 228,827 | -15,807 | -588,584 | -707,648 |
| Income Tax Paid Supplemental Data | -- | -- | -- | 0.00 |
| Interest Paid Supplemental Data | 589,509 | 497,581 | 403,930 | 381,916 |
| Cash Dividends Paid | 0.00 | -151,039 | -151,514 | 0.00 |
| Change In Account Payable | 1.3M | 203,927 | 9,770 | -1,251 |
| Change In Income Tax Payable | 126,777 | 0.00 | -- | -- |
| Change In Prepaid Assets | 104,503 | -22,622 | -1,843 | 308.00 |
| Change In Tax Payable | 126,777 | 0.00 | -- | -- |
| Common Stock Issuance | 36.3M | 0.00 | -- | -- |
| Dividends Received Cfi | 90,000 | 105,000 | 138,000 | 141,000 |
| Earnings Losses From Equity Investments | -733,778 | -1.2M | 613,687 | -312,161 |
| Gain Loss On Investment Securities | -28,362 | -- | -- | -- |
| Gain Loss On Sale Of Business | -2.6M | -485.00 | -950,638 | -- |
| Interest Paid Cff | -- | 0.00 | -16,500 | 0.00 |
| Interest Paid Cfo | -441,311 | -336,036 | -300,000 | -- |
| Long Term Debt Issuance | -- | -- | 201,149 | 237,500 |
| Long Term Debt Payments | -1.1M | 0.00 | -- | -- |
| Net Business Purchase And Sale | 10.0M | 0.00 | 535,175 | 0.00 |
| Net Income From Continuing Operations | 1.3M | 201,967 | -215,376 | -707,244 |
| Net Intangibles Purchase And Sale | -28,188 | 0.00 | -- | -- |
| Net Long Term Debt Issuance | -1.1M | 0.00 | 201,149 | 237,500 |
| Net Other Financing Charges | -3.1M | -256,666 | -- | -- |
| Net Other Investing Changes | -563,135 | 121,512 | -96,284 | 22,768 |
| Net Short Term Debt Issuance | -90,000 | 819,684 | 201,149 | 237,500 |
| Operating Gains Losses | -3.4M | -1.0M | -336,951 | -312,161 |
| Other Cash Adjustment Outside Changein Cash | 0.00 | 0.00 | -- | -- |
| Purchase Of Intangibles | -28,188 | 0.00 | -- | -- |
| Short Term Debt Issuance | 0.00 | 2.1M | 201,149 | -- |
| Short Term Debt Payments | -90,000 | -1.3M | 0.00 | -- |
| Unrealized Gain Loss On Investment Securities | -73,280 | 0.00 | -- | -- |