The Western Investment Company of Canada Limited
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 | Q2 2024Jun 30, 2024 |
|---|---|---|---|---|---|---|
| Total Revenue | 8.9M | 7.7M | 8.7M | 8.0M | 37,500 | -- |
| Operating Revenue | 8.9M | 7.7M | 8.7M | 8.0M | 37,500 | -- |
| Cost Of Revenue | -- | -- | 8.4M | 8.5M | 129,235 | 192,171 |
| Gross Profit | -- | -- | 277,490 | -472,959 | -91,735 | -154,671 |
| Selling General And Administration | 1.1M | 1.1M | 699,087 | 1.2M | 486,470 | -- |
| General And Administrative Expense | 1.1M | 1.1M | 699,087 | 1.2M | 486,470 | -- |
| Depreciation And Amortization In Income Statement | 33,397 | 35,412 | 33,415 | -- | 0.00 | 0.00 |
| Other Operating Expenses | 83,170 | 127,982 | 74,532 | -49,106 | 16,528 | -- |
| Operating Expense | -- | -- | 807,034 | 1.2M | 373,763 | 144,297 |
| Operating Income | -- | -- | -529,544 | -1.6M | -465,498 | -298,968 |
| EBIT | 689,613 | 733,764 | -466,711 | 765,769 | 753,990 | -- |
| Interest Expense | 17,438 | 17,438 | 535,144 | -149,543 | 232,889 | -- |
| Interest Expense Non Operating | 17,438 | 17,438 | 535,144 | -149,543 | 232,889 | -- |
| Interest Income | -61,051 | -54,491 | -- | 278,155 | 0.00 | 0.00 |
| Interest Income Non Operating | -- | 480,102 | -- | 278,155 | 188,269 | 187,329 |
| Net Interest Income | 448,683 | 462,664 | -169,359 | 427,698 | -21,644 | -- |
| Other Income Expense | -- | -- | -302,952 | 2.1M | 1.0M | 442,152 |
| Special Income Charges | 0.00 | -- | -- | 2.6M | 0.00 | -- |
| Earnings From Equity Interest | -- | -- | -302,952 | -444,866 | 1.0M | 442,152 |
| Pretax Income | 672,175 | 716,326 | -1.0M | 915,312 | 521,101 | -- |
| Tax Provision | 69,924 | -35,672 | 2,997 | -- | 0.00 | 0.00 |
| Tax Effect Of Unusual Items | 0.00 | 0.00 | 0.00 | 386,128 | 0.00 | -- |
| Net Income From Continuing And Discontinued Operation | 602,251 | 751,997 | -998,858 | 1.2M | 521,101 | -- |
| Net Income From Continuing Operation Net Minority Interest | 602,251 | 751,997 | -998,858 | 1.2M | 521,101 | -- |
| Net Income Including Noncontrolling Interests | 602,251 | 751,997 | -1.0M | 888,557 | 521,101 | -- |
| Minority Interests | 0.00 | -- | -- | -- | 0.00 | -- |
| Net Income Common Stockholders | 602,251 | 751,997 | -998,858 | 1.2M | 521,101 | -- |
| Net Income | 602,251 | 751,997 | -998,858 | 1.2M | 521,101 | -- |
| EBITDA | -- | -- | -382,324 | 765,769 | 753,992 | 330,513 |
| Normalized EBITDA | -- | -- | -382,324 | -1.8M | 731,014 | 330,513 |
| Reconciled Depreciation | 139,226 | -1,706 | 84,387 | -- | 1,375 | 1,375 |
| Basic EPS | 0.00 | 0.01 | -0.01 | -- | 0.02 | 0.00 |
| Diluted EPS | 0.00 | 0.00 | -0.01 | -- | 0.02 | 0.00 |
| Basic Average Shares | 156.4M | 158.9M | 151.2M | -- | 34.1M | 30.2M |
| Diluted Average Shares | 176.0M | 172.1M | 152.2M | -- | 34.6M | 30.8M |
| Total Unusual Items | 0.00 | -- | -- | 2.6M | 0.00 | -- |
| Total Unusual Items Excluding Goodwill | 0.00 | -- | -- | 2.6M | 0.00 | -- |
| Tax Rate For Calcs | 0.10 | 0.15 | 0.15 | 0.15 | 0.00 | -- |
| Normalized Income | 602,251 | 751,997 | -998,858 | -1.0M | 521,101 | -- |
| Depreciation Amortization Depletion Income Statement | -- | -- | 33,415 | -- | -- | -- |
| Diluted NI Availto Com Stockholders | 602,251 | 751,997 | -998,858 | 1.2M | 521,101 | -- |
| Gain On Sale Of Business | -- | -- | -- | 2.6M | 22,978 | -- |
| Loss Adjustment Expense | 8.3M | 7.0M | -- | -- | -- | -- |
| Net Income Continuous Operations | 602,251 | 751,998 | -1.0M | 888,557 | 521,101 | -- |
| Net Non Operating Interest Income Expense | 448,683 | 462,664 | -169,359 | 427,698 | -21,644 | -- |
| Net Policyholder Benefits And Claims | 8.3M | 7.0M | -- | -- | -- | -- |
| Other Gand A | 305,735 | 503,376 | 543,775 | 997,557 | 357,235 | -- |
| Reconciled Cost Of Revenue | -- | -- | 8.4M | 8.5M | 129,235 | 192,171 |
| Salaries And Wages | 837,754 | 609,138 | 155,312 | 191,672 | 129,235 | -- |
| Total Expenses | 8.2M | 7.0M | 9.2M | 9.7M | -483,601 | -- |
| Total Other Finance Cost | -466,121 | -- | -365,785 | -- | -211,245 | -- |
| Line Item | Q3 2025Sep 30, 2025 | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 | Q3 2024Sep 30, 2024 | Q2 2024Jun 30, 2024 |
|---|---|---|---|---|---|---|
| Cash And Cash Equivalents | 52.8M | 42.6M | 42.9M | 43.2M | 6,123 | -- |
| Cash Cash Equivalents And Short Term Investments | 52.8M | 42.6M | 48.8M | 49.0M | 6,123 | -- |
| Cash Financial | -- | -- | -- | -- | 6,123 | 6,149 |
| Other Short Term Investments | -- | -- | 5.9M | 5.7M | -- | -- |
| Accounts Receivable | 254,488 | 177,974 | 119,688 | 50,263 | 9,235 | -- |
| Receivables | 1.9M | 2.9M | 25.9M | 22.4M | 352,410 | -- |
| Prepaid Assets | 891,841 | 427,906 | 475,537 | 261,861 | 380,316 | -- |
| Current Assets | -- | -- | 75.2M | 71.6M | 738,849 | 662,847 |
| Gross PPE | -- | -- | 150,893 | 173,071 | -- | -- |
| Net PPE | 111,245 | 128,716 | 150,893 | 173,071 | -- | -- |
| Goodwill | 7.7M | 7.7M | 7.7M | 7.7M | -- | -- |
| Goodwill And Other Intangible Assets | 9.4M | 9.5M | 9.6M | 9.6M | -- | -- |
| Other Intangible Assets | 1.8M | 1.8M | 1.9M | 1.9M | -- | -- |
| Investments And Advances | 17.0M | 16.1M | 20.9M | 22.3M | 19.6M | -- |
| Long Term Equity Investment | 17.0M | 16.1M | 15.8M | 16.2M | 19.6M | -- |
| Total Non Current Assets | -- | -- | 30.6M | 32.1M | 20.4M | 19.3M |
| Total Assets | 126.3M | 112.2M | 105.8M | 103.7M | 21.1M | -- |
| Current Debt And Capital Lease Obligation | -- | -- | -- | 69,447 | -- | -- |
| Accounts Payable | 1.6M | 1.0M | 1.5M | 2.2M | -- | -- |
| Payables | 5.9M | 1.9M | 2.1M | 4.0M | -- | -- |
| Payables And Accrued Expenses | 5.9M | 1.9M | 2.1M | 4.0M | 587,082 | -- |
| Current Deferred Revenue | -- | -- | 37.5M | 32.5M | -- | -- |
| Current Liabilities | -- | -- | 39.6M | 36.6M | 587,082 | 297,836 |
| Long Term Debt | 900,000 | 900,000 | 900,000 | 5.8M | 7.6M | -- |
| Long Term Debt And Capital Lease Obligation | 982,230 | 994,538 | 1.0M | 5.9M | 7.6M | -- |
| Long Term Capital Lease Obligation | 82,230 | 94,538 | 113,686 | 66,890 | -- | -- |
| Other Non Current Liabilities | -- | -- | 141,992 | 213,891 | -- | -- |
| Total Non Current Liabilities Net Minority Interest | -- | -- | 1.4M | 6.4M | 7.6M | 7.3M |
| Total Liabilities Net Minority Interest | 60.1M | 46.8M | 41.0M | 43.0M | 8.2M | -- |
| Common Stock | 51.3M | 51.3M | 51.3M | 46.2M | 15.6M | -- |
| Capital Stock | 51.3M | 51.3M | 51.3M | 46.2M | 15.6M | -- |
| Additional Paid In Capital | 19.1M | 19.1M | 19.1M | 19.1M | 2.3M | -- |
| Retained Earnings | -5.6M | -6.2M | -6.9M | -5.9M | -5.4M | -- |
| Gains Losses Not Affecting Retained Earnings | 6,292 | -37,155 | 51,023 | -22,659 | 0.00 | -- |
| Other Equity Adjustments | 6,292 | -37,155 | 51,023 | -22,659 | -- | 22,978 |
| Common Stock Equity | 64.9M | 64.2M | 63.5M | 59.7M | 12.9M | -- |
| Stockholders Equity | 64.9M | 64.2M | 63.5M | 59.7M | 12.9M | -- |
| Total Equity Gross Minority Interest | 66.1M | 65.4M | 64.7M | 60.7M | 12.9M | -- |
| Minority Interest | 1.3M | 1.3M | 1.2M | 1.1M | -- | -- |
| Total Capitalization | 65.8M | 65.1M | 64.4M | 65.5M | 20.5M | -- |
| Net Tangible Assets | 55.4M | 54.6M | 53.9M | 50.1M | 12.9M | -- |
| Tangible Book Value | 55.4M | 54.6M | 53.9M | 50.1M | 12.9M | -- |
| Working Capital | -- | -- | 35.6M | 35.0M | 151,767 | 365,011 |
| Invested Capital | 65.8M | 65.1M | 64.4M | 65.5M | 20.5M | -- |
| Total Debt | 982,230 | 994,538 | 1.0M | 6.0M | 7.6M | -- |
| Net Debt | -- | -- | -- | -- | 7.6M | 7.3M |
| Share Issued | 158.9M | 158.9M | 158.9M | 148.3M | 34.1M | -- |
| Ordinary Shares Number | 158.9M | 158.9M | 158.9M | 148.3M | 34.1M | -- |
| Accrued Interest Receivable | 0.00 | 59,559 | 75,814 | 75,857 | -- | -- |
| Capital Lease Obligations | 82,230 | 94,538 | 113,686 | 136,337 | -- | -- |
| Current Capital Lease Obligation | -- | -- | -- | 69,447 | -- | -- |
| Current Deferred Liabilities | -- | -- | 37.5M | 32.5M | -- | -- |
| Duefrom Related Parties Current | -- | -- | 1.3M | 19,687 | 343,175 | 365,605 |
| Duefrom Related Parties Non Current | -- | -- | -- | -- | 832,561 | 787,658 |
| Dueto Related Parties Current | -- | -- | 0.00 | 234,966 | -- | -- |
| Financial Assets Designatedas Fair Value Through Profitor Loss Total | -- | -- | 5.1M | 6.1M | -- | -- |
| Income Tax Payable | 0.00 | 0.00 | 52,049 | 84,641 | -- | -- |
| Investmentin Financial Assets | -- | -- | 5.1M | 6.1M | -- | -- |
| Investments In Other Ventures Under Equity Method | 17.0M | 16.1M | -- | -- | -- | -- |
| Investmentsin Associatesat Cost | -- | -- | 15.8M | 16.2M | 19.6M | 18.5M |
| Loans Receivable | -- | -- | -- | 1.1M | -- | -- |
| Non Current Accounts Receivable | -- | -- | -- | -- | 832,561 | 787,658 |
| Non Current Deferred Liabilities | 245,193 | 273,058 | 268,512 | 260,668 | -- | -- |
| Non Current Deferred Taxes Liabilities | 245,193 | 273,058 | 268,512 | 260,668 | -- | -- |
| Notes Receivable | -- | -- | -- | 163,049 | -- | -- |
| Other Equity Interest | -- | -- | -- | 400,908 | 400,908 | 400,908 |
| Other Payable | 4.3M | 841,025 | 565,149 | 1.5M | -- | -- |
| Other Properties | -- | -- | 150,893 | 173,071 | -- | -- |
| Other Receivables | -- | -- | 24.4M | 21.0M | -- | -- |
| Taxes Receivable | 337,437 | 464,099 | -- | -- | -- | -- |
| Total Tax Payable | 0.00 | 0.00 | 52,049 | 84,641 | -- | -- |
| Line Item | Q3 2025Sep 30, 2025 | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 | Q3 2024Sep 30, 2024 | Q2 2024Jun 30, 2024 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | 4.9M | -681,792 | -1.2M | 1.6M | -354,424 | -- |
| Cash Flow From Continuing Operating Activities | 4.9M | -681,792 | -1.2M | 1.6M | -354,424 | -- |
| Depreciation And Amortization | 139,226 | -1,706 | 84,387 | -- | 1,375 | 1,375 |
| Depreciation Amortization Depletion | -- | -- | 84,387 | -- | -- | -- |
| Stock Based Compensation | 53,428 | 16,330 | 155,312 | 191,672 | 0.00 | -- |
| Deferred Tax | -27,865 | 4,546 | 7,844 | -- | 0.00 | 0.00 |
| Deferred Income Tax | -27,865 | 4,546 | 7,844 | -- | 0.00 | 0.00 |
| Change In Working Capital | -- | -508,135 | -742,279 | 2.4M | 211,842 | -295,439 |
| Changes In Account Receivables | -- | -58,285 | -69,426 | -41,027 | -1,435 | 370.00 |
| Change In Receivables | -- | 3.4M | -3.5M | -8.4M | 364,170 | 370.00 |
| Change In Payables And Accrued Expense | -- | -81,026 | -2.0M | 824,700 | 289,246 | -74,771 |
| Change In Payable | -- | -81,026 | -2.0M | 824,700 | 289,246 | -74,771 |
| Change In Other Working Capital | -- | -5.4M | 4.9M | -- | -- | -- |
| Change In Other Current Liabilities | -- | -151,305 | 56,372 | -- | -- | 0.00 |
| Other Non Cash Items | -- | -- | 137,098 | 625,571 | -874,017 | 183,242 |
| Capital Expenditure | -- | -- | -26,862 | -- | -- | -- |
| Purchase Of Investment | -212,183 | -1.2M | -537,379 | -- | 0.00 | 0.00 |
| Sale Of Investment | 4.7M | 1.9M | 1.4M | -- | 0.00 | 0.00 |
| Net Investment Purchase And Sale | 4.5M | 716,026 | 907,888 | -- | 0.00 | 0.00 |
| Investing Cash Flow | 5.2M | 356,991 | 1.0M | 10.4M | -134,903 | -- |
| Cash Flow From Continuing Investing Activities | 5.2M | 356,991 | 1.0M | 10.4M | -134,903 | -- |
| Issuance Of Debt | 0.00 | 0.00 | 0.00 | -2.0M | 399,301 | -- |
| Repayment Of Debt | 90,738 | -21,445 | -130,284 | -8,284 | 90,000 | -- |
| Net Issuance Payments Of Debt | 90,738 | -21,445 | -130,284 | -2.0M | 489,301 | -- |
| Repurchase Of Capital Stock | -- | -- | -- | 0.00 | 0.00 | 0.00 |
| Net Common Stock Issuance | -- | -- | -- | 36.3M | 0.00 | 0.00 |
| Common Stock Payments | -- | -- | -- | 0.00 | 0.00 | 0.00 |
| Financing Cash Flow | 90,738 | -21,445 | -130,284 | 31.2M | 489,301 | -- |
| Cash Flow From Continuing Financing Activities | 90,738 | -21,445 | -130,284 | 31.2M | 489,301 | -- |
| Changes In Cash | 10.2M | -346,246 | -327,709 | 43.2M | -26.00 | -- |
| Beginning Cash Position | 42.6M | 42.9M | 43.2M | 6,123 | 6,149 | -- |
| End Cash Position | 52.8M | 42.6M | 42.9M | 43.2M | 6,123 | -- |
| Free Cash Flow | 4.9M | -654,930 | -1.3M | 1.6M | -354,424 | -- |
| Interest Paid Supplemental Data | -- | 13,703 | 224,196 | 38,918 | 290,413 | 46,035 |
| Cash Dividends Paid | -- | -- | -- | 0.00 | -- | -- |
| Change In Account Payable | -- | -419,565 | -783,149 | 1.0M | 289,246 | 82,544 |
| Change In Income Tax Payable | -- | -- | -32,591 | -- | -- | -- |
| Change In Prepaid Assets | -- | 47,631 | -213,674 | 464,181 | -98,400 | -221,038 |
| Change In Tax Payable | -- | -- | -32,591 | -- | -- | -- |
| Dividends Received Cfi | -105,000 | 0.00 | 150,000 | 0.00 | -90,000 | -- |
| Earnings Losses From Equity Investments | -893,310 | -778,957 | 302,952 | 467,844 | -1.0M | -- |
| Gain Loss On Investment Securities | -109,641 | -39,616 | -34,707 | -- | -- | -- |
| Interest Paid Cfo | -- | 0.00 | -209,096 | -- | -- | 0.00 |
| Long Term Debt Issuance | 0.00 | 0.00 | 0.00 | -- | 399,301 | 475,429 |
| Long Term Debt Payments | 90,738 | -21,445 | -130,284 | 81,716 | 90,000 | -- |
| Net Income From Continuing Operations | 617,338 | 751,998 | -998,858 | 1.1M | 521,104 | -- |
| Net Intangibles Purchase And Sale | -87,735 | 71,931 | -26,862 | -- | 0.00 | 0.00 |
| Net Long Term Debt Issuance | 90,738 | -21,445 | -130,284 | -1.9M | 489,301 | -- |
| Net Other Investing Changes | 0.00 | 484,486 | -4,786 | -470,779 | -44,903 | -- |
| Operating Gains Losses | -1.0M | -818,573 | 268,245 | -2.2M | -1.0M | -- |
| Purchase Of Intangibles | -- | -- | -26,862 | -- | -- | -- |
| Unrealized Gain Loss On Investment Securities | -- | -128,549 | 73,682 | -- | -- | 0.00 |