CAPTOR CAPITAL CORP.
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
THREE AND NINE MONTHS ENDED
DECEMBER 31, 2021
(EXPRESSED IN CANADIAN DOLLARS)
(UNAUDITED)
Notice To Reader
The accompanying unaudited condensed interim consolidated financial statements of the Company have been prepared by and are the responsibility of management. The unaudited condensed interim consolidated financial statements have not been reviewed by the Company's auditors.
Condensed Interim Consolidated Statements of Financial Position (Expressed in Canadian Dollars)
Unaudited
As at December 31, 2021
As at March 31, 2021
ASSETS
Current
Cash and cash equivalents
Amounts receivable and prepaid expenses (Note 5)
Inventory
Investments at fair value (Note 10)
Assets held for sale (Note 6)
$
23,230,872 $ 17,363,137 2,912,539 1,250,947 2,080,223 1,404,451 2,593,845 3,401,102
Non-current
Amounts receivable and prepaid expenses (Note 5)
Right-of-use assets (Note 7)
Property and equipment (Note 8)
Goodwill (Note 9)
Intangibles (Note 9)
680,642 31,498,121
675,112 24,094,749
921,286
770,841
7,777,862 8,874,328
3,635,668 2,899,837
12,777,299 12,672,838
10,330,454 10,997,741
$
66,940,690
$
60,310,334
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities
Current
Accounts payable and accrued liabilities (Note 21)
Promissory note payable (Note 12(ii))
Loans and notes payable (Note 12(i))
Lease liabilities (Note 13)
Income tax payable
$
8,577,008
$
8,452,919
161,596 182,165
13,143 11,875
1,192,311 1,050,606
1,356,895 1,076,862
Non-current
Promissory note payable (Note 12(ii)) Loans and notes payable (Note 12(i)) Lease liabilities (Note 13)
Deferred tax liability
11,300,953
10,774,427
88,946 248,507
- 35,516
7,481,495 8,325,065
2,175,261 1,604,321
21,046,655
20,987,836
Shareholders' Equity Share capital (Note 14) Contributed surplus
Accumulated other comprehensive loss Deficit
115,982,485 103,604,649
30,259,268 29,528,620
(3,258,471) (3,254,325)
(109,591,915) (103,021,501)
33,391,367 26,857,443
Non-controlling interest (Note 4)
12,502,668 12,465,055
45,894,035
39,322,498
$
66,940,690
$
60,310,334
NATURE OF OPERATIONS (Note 1)
SUBSEQUENT EVENTS (Note 24)
Condensed Interim Consolidated Statements of Loss and Comprehensive Loss (Expressed in Canadian Dollars)
Unaudited
Three Months Ended | Nine Months Ended |
December 31, | December 31, |
2021 2020 | 2021 2020 |
Sales, net of excise tax Cost of sales
Gross profit
$
8,404,525 $ 4,970,339 3,434,186
4,203,687 $ 2,935,776 1,267,911
23,640,258 $ 11,879,754 15,026,243 7,956,371
8,614,015
3,923,383
Expenses
General and administrative expenses (Note 18) Foreign exchange loss
Interest income
Amortization of intangible assets
4,252,365 1,201,157
(5,941) 196,082
3,031,272 27,171 (28,951) 115,856
12,855,439 1,223,494
(16,409) 746,375
6,801,860 301,178 (88,713)
357,381
Total expenses
(5,643,663)
(3,145,348)
(14,808,899)
(7,371,706)
Net loss for the period before other items:
Realized gain on investments at fair value Unrealized (loss) gain on investments at fair value Gain on sale of investment in associate (Note 11) Equity loss pick-up (Note 11)
Loss on write-off of property and equipment
(2,209,477)
(1,877,437)
(6,194,884)
(3,448,323)
- (302,063)
881,030
347,742 388,564
251,225 -
(718,883) 661,545
61,804
61,804
-
-
(25,165)
- (90,350)
(123)
(399,219)
(28,580) (399,219)
Net loss for the period
(2,449,859)
(1,169,566)
(6,532,801)
(2,887,783)
Other comprehensive (loss) income
Items that may be reclassified subsequently:
Share of loss from investment in associate (Note 11) Foreign currency translation adjustment
- 764,475 764,475
5,383 (766,977)
- (4,146)
(95,161) (1,221,945)
(761,594)
(4,146)
(1,317,106)
Comprehensive loss for the period
$
(1,685,384) $
(1,931,160) $
(6,536,947) $
(4,204,889)
Net loss attributable to:
Shareholders of the Company Non-controlling interest
$
(2,777,938) $ 328,079
(824,947) $ (344,619)
(6,570,414) $ 37,613
(2,503,399)
(384,384)
$
(2,449,859) $
(1,169,566) $
(6,532,801) $
(2,887,783)Loss per share - basic and diluted (Note 17)
$
(0.05) $
(0.03) $
(0.13) $
(0.07)
CAPTOR CAPITAL CORP.
Condensed Interim Consolidated Statements of Cash Flows (Expressed in Canadian Dollars)
Unaudited
Nine Months Ended
December 31, 2021 2020
Cash (used in) provided by:
Operating Activities
Net loss for the period | $ | (6,532,801) | (2,887,783) |
Unrealized loss (gain) on investments at fair value | 718,883 | (661,545) | |
Realized loss (gain) on investments at fair value | (347,742) | (388,564) | |
Foreign exchange loss (gain) | (796,059) | 377,374 | |
Gain on sale of investment in associate | (61,804) | - | |
Loss on write-off of property and equipment | 28,580 | 399,219 | |
Unrealized loss on investment in associate | - | 90,350 | |
Depreciation and amortization | 2,249,776 | 675,705 | |
Accretion | 949,161 | 86,638 | |
Stock based compensation expense | 840,853 | 468,075 | |
Other | - | (4,497) | |
Changes in non-cash working capital items: | |||
Amounts receivable and prepaid expenses | (1,812,037) | 47,419 | |
Income tax payable | 1,504,619 | - | |
Accounts payable and accrued liabilities | 124,089 | (15,053) | |
Inventory | (675,772) | (405,062) | |
(3,810,254) | (2,217,724) | ||
Financing activities | |||
Issue of common shares and units, net of issue costs | 12,267,631 | - | |
Repurchase of shares | - | (35,816) | |
Lease payments | (1,716,521) | (322,852) | |
10,551,110 | (358,668) | ||
Investing Activities | |||
Purchase of property and equipment | (1,136,617) | (1,288,804) | |
Repayments of loans and notes payable | (228,382) | (178,651) | |
Proceeds from loan payable | 13,143 | - | |
Purchase of investments at fair value | - | (794,868) | |
Proceeds from sale of investments at fair value | 436,116 | 2,154,260 | |
Proceeds from sale of investment in associate | 61,804 | - | |
Receipts from loan receivable | - | 17,040 | |
(853,936) | (91,023) | ||
Foreign exchange effect | (19,185) | (309,283) | |
Change in cash and cash equivalents | 5,886,920 | (2,667,415) | |
Cash and cash equivalents, beginning of period | 17,363,137 | 19,766,334 | |
Cash and cash equivalents, end of period | $ | 23,230,872 | |
SUPPLEMENTAL INFORMATION: | |||
Interest received | $ | 16,409 | |
Interest paid | $ | - |
$
$ 16,789,636
$ 15,317 $ 4,738
CAPTOR CAPITAL CORP.
Condensed Interim Consolidated Statements of Changes in Shareholders' Equity (Expressed in Canadian Dollars)
Unaudited
Accumulated
Share | Contributed | ||||
Capital | Surplus | Total | |||
Balance, March 31, 2020 | $ 104,151,855 | $ 29,060,545 | $ | $ | 35,011,528 |
Share repurchase | (521,661) | - | (35,816) | ||
Change in ownership interest in subsidiary | - | - | 14,813,610 | ||
Share based compensation | - | 468,075 | 468,075 | ||
Net comprehensive loss for the period | - | - | (4,204,889) | ||
Balance, December 31, 2020 | $ 103,630,194 | $ 29,528,620 | $ | $ | 46,052,508 |
Balance, March 31, 2021 | $ 103,604,649 | $ 29,528,620 | $ | $ | 39,322,498 |
Common shares issued for private placement | 12,160,818 | - | 12,160,818 | ||
Cost of issue | (32,687) | - | (32,687) | ||
Common shares issued for exercise of options | 249,705 | (110,205) | 139,500 | ||
Share based compensation (note 16) | - | 840,853 | 840,853 | ||
Net comprehensive loss for the period | - | - | (6,536,947) | ||
Balance, December 31, 2021 | $ 115,982,485 | $ 30,259,268 | $ |
Loss
Other ComprehensiveNon-controllingDeficit
Interest
(539,634) $ - - - (1,317,106)
(97,661,238) $ 485,845
- - (2,887,783)
- - 14,813,610 - (384,384)
(1,856,740) $ (100,063,176) $ 14,429,226
(3,254,325) $ (103,021,501) $ 12,465,055
- - - - (4,146)
- - - - (6,570,414)
- - - - 37,613
(3,258,471) $ (109,591,915) $ 12,502,668
$ 45,894,035
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Captor Capital Corp. published this content on 01 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 March 2022 16:26:02 UTC.