Certive : Interim Financial Statements for the Quarter ended February 28, 2022

Certive Solutions Inc.

Condensed Consolidated Interim Financial Statements

(Expressed in U.S. Dollars)

As at and for the nine-month period ended February 28, 2022

Page
CONSOLIDATED FINANCIAL STATEMENTS
Condensed Consolidated Interim Statements of Financial Position	4
Condensed Consolidated Interim Statements of Loss and Comprehensive Loss	5
Condensed Consolidated Interim Statements of Cash Flows	6
Condensed Consolidated Interim Statements of Changes in Equity	7
Notes to the Condensed Consolidated Interim Financial Statements	8 - 25

No Auditor Review of the Condensed Consolidated Interim Financial Statements

The accompanying unaudited condensed consolidated interim financial statements of Certive Solutions Inc. (the "Company") as at and for the nine-month period ended February 28, 2022 have been prepared by management and have not been the subject of a review by the Company's external independent auditors.

Certive Solutions Inc.

Vancouver, British Columbia April 29, 2022

Condensed consolidated interim statements of financial position as at: (Unaudited - Expressed in U.S. Dollars)

ASSETSCurrent assets

Cash

Marketable securities Receivables Restricted Assets Prepayments and other

Note s

February 28, 2022

4 5 17

$

25,273 $ 1,935 8,065 36,785 375,754 404,091

265,500 107,394

Total current assets 781,986

Non-current assets

Receivable from sale of KCA Software development

6 89,557

7 72,140

May 31, 2021

- 40,532

483,343

95,801 130,848

Total assetsLIABILITIESCurrent liabilities

Accounts payable and accrued liabilities Convertible debt

Short term loans

Note payable - current portion Derivative liability

Total current liabilities

Non-current liabilities

Note payable - long term portion

$

943,683

8 $

3,563,522

11

4,833,523 4,237,090

10

738,655 915,891

11

302,121 300,000

13

- 230,574

9,437,821

11

147,879

Total liabilities 9,585,700

Shareholders' deficit

Share capital

Reserve - Transaction costs Reserve - Share options Reserve - Share warrants Contributed surplus

Equity portion of convertible debt Deficit

Total shareholders' deficit

Total shareholders' deficit and liabilities

Nature of operations and going concern (Note 1)

Subsequent events (Note 19)

12 24,513,463

$

709,992

$ 2,618,380

8,301,935

150,000

8,451,935

(655,877) 1,887,617

24,311,081 (655,877) 1,880,841

728,387 728,387

766,829 766,829

880,728 618,876

(36,763,164) (8,642,017)

$

943,683

(35,392,080) (7,741,943)

$

709,992

Condensed consolidated interim statements of loss and comprehensive loss for three and nine-months ended: (Unaudited - Expressed in U.S. Dollars)

REVENUE

Lost charge recovery revenue OPERATING COSTS

Commissions

Contractors and consulting fees

Direct payroll and employee benefits

License fees

Total operating costs

Notes

Three-months ended February 28, 2022

Three-months ended February 28, 2021

Nine-months ended February 28, 2022

Nine-months ended February 28, 2021

$

• 321,377 $

4,985

12,050

332,120 -

• 413,010 $

12,782

13,080

355,509 -

941,566 $ 1,254,912

21,321 26,068 36,500 38,660

(349,155)

(381,371)

1,050,751 70 (1,108,642)

1,026,074 150 (1,090,952)

GROSS PROFIT (LOSS) EXPENSES - SG&A

Amortization

Depreciation

Bad debt expense

Bank charges and interest

Consulting fees

Foreign exchange

General and administrative

Professional fees

Rent

Salaries and wages

Sales and marketing

Share-based compensation

Transfer agent and filing fees

Travel and promotion

Total expenses - SG&A

(27,778)

7 5

31,639

19,569 -

19,465

242,498

44,580

18,420

61,014

94,210

7,902

14 12

(167,076) 163,960

19,569 -

60,447

184,305

22,500

68,479

58,285 -

7,500

221,788

9,742

2,259

7,004 -

58,708 58,707

- 5,452

53,188 83,157

661,792 568,011

78,580 67,500

(170,340) 215,006

182,858 155,381

128,202 3,070

23,706 18,749

233,303

2,464

2,259

5,844

104

668,694 711,990

22,536 18,653

6,778 6,778

30,417 23,633

629 1,967

(748,451)

(665,059)

(1,745,748)

(1,938,094)

Loss from operations

Derivative recovery

Gain on legal matter settlement

Unrealized gain (loss) on marketable

securities

PPP loan forgiveness

Recovery of accounts payable

Recovery of rent expense Other income, net

(776,229)

13 17 4

(633,420)

- 305,500

(8,541)

(1,912,824)

(1,774,094)

58,572 -

230,575 305,500

38,393

-23,800 10,059 - - 92,431

(30,370) 22,633

- 31,587 - 328,546

- 383,969

36,035 18,335

- 1,552

541,740

464,882

Net loss and comprehensive loss for the period

$

(447,683)

$

(540,989)

• $ (1,371,084)

• $ (1,309,212)

Basic and diluted loss per common share

Weighted average number of common shares outstanding

$

(0.00)

145,399,278

$

(0.00)

139,552,114

$

(0.01)

144,732,578

$

(0.01)

139,294,710