CAPTOR CAPITAL CORP. CAPTOR CAPITAL CORP.
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
THREE AND SIX MONTHS ENDED
SEPTEMBER 30, 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.
CAPTOR CAPITAL CORP.
Condensed Interim Consolidated Statements of Financial Position
(Expressed in Canadian Dollars)
Unaudited
As at | As at | |||
September 30, | March 31, | |||
2021 | 2021 | |||
ASSETS | ||||
Current | $ | 23,928,903 | ||
Cash and cash equivalents | $ | 17,363,137 | ||
Amounts receivable and prepaid expenses (Note 5) | 3,067,216 | 1,250,947 | ||
Inventory | 2,111,013 | 1,404,451 | ||
Investments at fair value (Note 10) | 2,895,908 | 3,401,102 | ||
Assets held for sale (Note 6) | 684,024 | 675,112 | ||
Non-current | 32,687,064 | 24,094,749 | ||
924,455 | ||||
Amounts receivable and prepaid expenses (Note 5) | 770,841 | |||
Right-of-use assets (Note 7) | 8,201,428 | 8,874,328 | ||
Property and equipment (Note 8) | 3,472,959 | 2,899,837 | ||
Goodwill (Note 9) | 12,840,793 | 12,672,838 | ||
Intangibles (Note 9) | 10,579,311 | 10,997,741 | ||
$ | 68,706,010 | $ | 60,310,334 | |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||
Liabilities | ||||
Current | $ | 8,617,907 | ||
Accounts payable and accrued liabilities (Note 21) | $ | 8,452,919 | ||
Promissory note payable (Note 12(ii)) | 200,410 | 182,165 | ||
Loans and notes payable (Note 12(i)) | - | 11,875 | ||
Lease liabilities (Note 13) | 1,142,457 | 1,050,606 | ||
Income tax payable | 1,342,569 | 1,076,862 | ||
Non-current | 11,303,343 | 10,774,427 | ||
51,378 | ||||
Promissory note payable (Note 12(ii)) | 248,507 | |||
Loans and notes payable (Note 12(i)) | - | 35,516 | ||
Lease liabilities (Note 13) | 7,837,700 | 8,325,065 | ||
Deferred tax liability | 2,186,070 | 1,604,321 | ||
21,378,491 | 20,987,836 | |||
Shareholders' Equity | 115,947,580 | |||
Share capital (Note 14) | 103,604,649 | |||
Contributed surplus | 30,042,273 | 29,528,620 | ||
Accumulated other comprehensive loss | (4,022,946) | (3,254,325) | ||
Deficit | (106,901,096) | (103,021,501) | ||
35,065,811 | 26,857,443 | |||
Non-controlling interest (Note 4) | 12,261,708 | 12,465,055 | ||
47,327,519 | 39,322,498 | |||
$ | 68,706,010 | $ | 60,310,334 |
NATURE OF OPERATIONS (Note 1)
The accompanying notes are an integral part of these consolidated financial statements.
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CAPTOR CAPITAL CORP.
Condensed Interim Consolidated Statements of Loss and Comprehensive Loss
(Expressed in Canadian Dollars)
Unaudited
Three Months Ended | Six Months Ended | |||||||
September 30, | September 30, | |||||||
2021 | 2020 | 2021 | 2020 | |||||
Sales, net of excise tax | $ | 8,465,787 | $ | 3,908,216 | $ | 15,235,733 | $ | 7,676,067 |
Cost of sales | 5,341,756 | 2,504,080 | 10,055,904 | 5,020,595 | ||||
Gross profit | 3,124,031 | 1,404,136 | 5,179,829 | 2,655,472 | ||||
Expenses | 5,386,872 | 8,603,074 | ||||||
General and administrative expenses (Note 18) | 1,994,529 | 3,770,588 | ||||||
Foreign exchange loss | 2,305 | 136,679 | 22,337 | 274,007 | ||||
Interest income | (5,363) | (26,681) | (10,468) | (59,762) | ||||
Amortization of intangible assets | 116,150 | 118,398 | 550,293 | 241,525 | ||||
Total expenses | (5,499,964) | (2,222,925) | (9,165,236) | (4,226,358) | ||||
Net loss for the period before other items: | (2,375,933) | (818,789) | (3,985,407) | (1,570,886) | ||||
Realized gain on investments at fair value | - | (492,466) | 347,742 | (492,466) | ||||
Unrealized (loss) gain on investments at fair value | 97,417 | (3,032,405) | (416,820) | 410,320 | ||||
Equity loss pick-up (Note 11) | - | (28,168) | - | (65,185) | ||||
Loss on write-off of property and equipment | (362) | - | (28,457) | - | ||||
Net loss for the period | (2,278,878) | (4,371,828) | (4,082,942) | (1,718,217) | ||||
Other comprehensive (loss) income | ||||||||
Items that may be reclassified subsequently: | - | - | ||||||
Share of loss from investment in associate (Note 11) | (78,379) | (100,544) | ||||||
Foreign currency translation adjustment | 643,517 | 35,522 | (768,621) | (454,968) | ||||
643,517 | (42,857) | (768,621) | (555,512) | |||||
Comprehensive loss for the period | $ | (1,635,361) | $ | (4,414,685) | $ | (4,851,563) | $ | (2,273,729) |
Net loss attributable to: | $ | (2,365,997) | $ | (3,879,595) | ||||
Shareholders of the Company | $ | (4,332,063) | $ | (1,678,452) | ||||
Non-controlling interest | 87,119 | (39,765) | (203,347) | (39,765) | ||||
$ | (2,278,878) | $ | (4,371,828) | $ | (4,082,942) | $ | (1,718,217) | |
Loss per share - basic and diluted (Note 17) | $ | (0.04) | $ | (0.11) | $ | (0.08) | $ | (0.04) |
The accompanying notes are an integral part of these consolidated financial statements.
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CAPTOR CAPITAL CORP.
Condensed Interim Consolidated Statements of Cash Flows
(Expressed in Canadian Dollars)
Unaudited
Six Months Ended | ||||
September 30, | ||||
2021 | 2020 | |||
Cash (used in) provided by: | ||||
Operating Activities | $ | (4,082,942) | ||
Net loss for the period | $ | (1,718,217) | ||
Unrealized loss (gain) on investments at fair value | 416,820 | (410,320) | ||
Realized loss (gain) on investments at fair value | (347,742) | 492,466 | ||
Foreign exchange loss (gain) | (1,675,733) | 267,096 | ||
Loss on write-off of property and equipment | 28,457 | - | ||
Unrealized loss on investment in associate | - | 65,185 | ||
Depreciation and amortization | 1,541,681 | 453,783 | ||
Accretion | 638,535 | 61,055 | ||
Stock based compensation expense | 608,453 | - | ||
Other | - | 2,333 | ||
Changes in non-cash working capital items: | (1,969,883) | |||
Amounts receivable and prepaid expenses | 149,980 | |||
Income tax payable | 1,490,293 | - | ||
Accounts payable and accrued liabilities | 164,988 | 369,333 | ||
Inventory | (706,562) | (50,785) | ||
(3,893,635) | (318,091) | |||
Financing activities | 12,248,131 | |||
Issue of common shares and units, net of issue costs | - | |||
Repurchase of shares | - | (18,240) | ||
Lease payments | (1,145,547) | (174,903) | ||
11,102,584 | (193,143) | |||
Investing Activities | (789,900) | |||
Purchase of property and equipment | (717,058) | |||
Repayments of loans and notes payable | (225,311) | (259,905) | ||
Purchase of investments at fair value | - | (209,759) | ||
Proceeds from sale of investments at fair value | 436,116 | - | ||
Receipts from loan receivable | - | 17,040 | ||
(579,095) | (1,169,682) | |||
Foreign exchange effect | (64,088) | (247,056) | ||
Change in cash and cash equivalents | 6,629,854 | (1,680,916) | ||
Cash and cash equivalents, beginning of period | 17,363,137 | 19,766,334 | ||
Cash and cash equivalents, end of period | $ | 23,928,903 | $ | 17,838,362 |
SUPPLEMENTAL INFORMATION: | $ | 10,468 | ||
Interest received | $ | 11,081 | ||
Interest paid | $ | - | $ | 1,436 |
The accompanying notes are an integral part of these consolidated financial statements.
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CAPTOR CAPITAL CORP.
Condensed Interim Consolidated Statements of Changes in Shareholders' Equity
(Expressed in Canadian Dollars)
Unaudited
Accumulated | |||||||||||
Other | |||||||||||
Share | Contributed | Comprehensive | Non-controlling | ||||||||
Capital | Surplus | Loss | Deficit | Interest | Total | ||||||
Balance, March 31, 2020 | $ 104,151,855 | $ | 29,060,545 | $ | (539,634) | $ | (97,661,238) | $ | - | $ | 35,011,528 |
Share repurchase | (266,208) | - | - | 247,968 | - | (18,240) | |||||
Net comprehensive loss for the period | - | - | (512,655) | (1,718,217) | - | (2,230,872) | |||||
Balance, September 30, 2020 | $ 103,885,647 | $ | 29,060,545 | $ | (1,052,289) | $ | (99,131,487) | $ | - | $ | 32,762,416 |
Balance, March 31, 2021 | $ 103,604,649 | $ | 29,528,620 | $ | (3,254,325) | $ | (103,021,501) | $ | 12,465,055 | $ | 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 | 214,800 | (94,800) | - | - | - | 120,000 | |||||
Share based compensation (note 16) | - | 608,453 | - | - | - | 608,453 | |||||
Net comprehensive loss for the period | - | - | (768,621) | (3,879,595) | (203,347) | (4,851,563) | |||||
Balance, September 30, 2021 | $ 115,947,580 | $ | 30,042,273 | $ | (4,022,946) | $ | (106,901,096) | $ | 12,261,708 | $ | 47,327,519 |
The accompanying notes are an integral part of these consolidated financial statements.
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Captor Capital Corp. published this content on 29 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 December 2021 02:49:02 UTC.
