Goodbody Health : 2022 financial statements – June 30 2022 Q2 Final

GOODBODY HEALTH INC.

(Formerly SATIVA WELLNESS GROUP INC. )

Unaudited Condensed Interim Consolidated Financial Statements for

the six month period ended June 30, 2022

(Expressed in GBP)

NOTICE OF NO AUDITOR REVIEW

OF THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Under National Instrument 51-102 "Continuous Disclosure Obligations", if an auditor has not performed a review of the interim financial statements, the financial statements must be accompanied by a notice indicating that they have not been reviewed by an auditor.

The accompanying unaudited interim condensed consolidated financial statements of the Company have been prepared by and are the responsibility of the Company's management.

The Company's independent auditor has not performed a review of these unaudited interim condensed consolidated financial statements in accordance with standards established by CPA (Chartered Professional Accountants) Canada for a review of unaudited interim condensed consolidated financial statements by an entity's auditor.

August 18, 2022

GOODBODY HEALTH INC. (FORMALLY SATIVA WELLNESS GROUP INC.) Condensed Unaudited Interim Consolidated Statements of Financial Position (Expressed in GBP)

	Note	June 30, 2022	December 31,
			2021
		£	£
Assets
Cash and cash equivalents	5	3,736,979	6,068,172
Trade receivables		286,384	277,810
Refundable sales taxes receivable		9,803	144,597
Inventories	6	556,975	588,717
Assets held for sale	9	43,098	46,345
Prepaid expenses and deposits		248,839	146,145
Other current assets		47,328	24,372
Total Current Assets		4,929,406	7,296,158
Plant and equipment	7	2,585,850	2,602,306
Right of use assets	8	250,013	341,792
Intangible assets	10	103,540	30,941
Goodwill	10	572,072	572,072
Total Assets		8,440,881	10,843,269
Liabilities
Accounts payable and accrued liabilities		1,228,020	2,319,768
Current portion of lease obligation	11	124,435	152,111
Corporation tax provision		267,376	267,376
Other current liabilities		338,240	850,715
		1,958,071	3,589,970
Long-term portion of lease obligation	11	125,382	184,842
Total Liabilities		2,083,453	3,774,812
Shareholders' Equity	12
Share capital		15,124,402	15,124,402
Share based payment reserve		3,601,175	3,584,962
Accumulated other comprehensive Income		973,545	332,321
Deficit		(13,341,694)	(11,973,228)
Shareholders' Equity		6,357,428	7,068,457
Total Liabilities and Shareholders' Equity		8,440,881	10,843,269

Nature and continuance of operations (note 1)

Subsequent events (note 16)

Approved and authorised for dissemination on behalf of the Board of Directors on August 18, 2022:

"Marc Howells"		"Anne Tew"
Marc Howells - Director		Anne Tew - Director

The accompanying notes are an integral part of these condensed unaudited interim consolidated financial statements

GOODBODY HEALTH INC.

Condensed Unaudited Interim Consolidated Statements of Loss and Comprehensive Loss (Expressed in GBP)

	Note	For the three months ended	For the six months ended
		June 30	June 30
		2022	2021	2022	2021
		£	£	£	£
Revenue		2,234,618	3,481,239	7,403,280	4,857,666
Cost of sales		(1,219,850)	(1,565,814)	(3,784,995)	(2,235,598)
Gross profit		1,014,768	1,915,425	3,618,285	2,622,068
Operating Expenses
General and administrative expenses	4	(1,892,864)	(2,003,734)	(4,265,003)	(3,247,865)
Share-based payment charges	14	(3,274)	13,264	(16,213)	(55,645)
Depreciation and amortization		(136,764)	(285,099)	(265,153)	(529,381)
Interest income / (expense)		(1,829)	(3,278)	(4,110)	(6,969)
Fair value (loss) / gain on investments		29	859	1,033	890
Grant income		-	4,643	-	6,735
Other Income	2	-	-	-	202,078
Foreign currency translation on		(206,632)	152,139	(480,593)	(261,769)
intercompany loans
		_________	_________	_________	_________
Loss before income taxes		(1,226,566)	(205,781)	(1,411,754)	(1,269,858)
Income tax		80,846	-	-	-
		_________	_________	_________	_________
Net loss		(1,145,720)	(205,781)	(1,411,754)	(1,269,858)
Items that may be reclassified to profit
or loss
Currency translation adjustment		273,528	251,999	641,224	395,724
		_________	_________	_________	_________
Comprehensive profit/(loss) for the year		(872,192)	46,218	(770,530)	(874,134)
Profit/(loss) per share		Pence	Pence	Pence	Pence
Basic and diluted		(0.24)	0.01	(0.21)	(0.27)
Weighted number of shares outstanding		364,962,152	352,568,899	364,962,152	327,580,920

The accompanying notes are an integral part of these condensed unaudited interim consolidated financial statements

GOODBODY HEALTH INC.

Condensed Unaudited Interim Consolidated Statements of

Changes in Equity

(Expressed in GBP)

			Share Based
	Number of	Share Capital	payment	Trans		Total
	Outstanding		Reserve	lation Reserve	Deficit	Shareholder's
	Shares					Equity
		£	£	£	£	£
Balance, January 1, 2021	302,592,941	12,915,426	2,874,218	153,693	(9,658,848)	6,284,489
Share-based payments	-	-	55,645	-	-	55,645
Shares issued	62,022,972	2,848,326	-	-	-	2,848,326
Share issuance costs	-	(163,473)	-	-	-	(163,473)
Transfer for options forfeited	-	-	(32,550)	-	32,550	-
Currency translation reserve	-	-	1,662	395,724	(280,104)	117,282
Net loss	-	-	-	-	(1,269,858)	(1,269,858)
Balance, June 30, 2021	364,615,913	15,600,279	2,898,975	549,417	(11,176,260)	7,872,411
Balance, January 1, 2022	364,962,152	15,124,402	3,584,962	332,321	(11,973,228)	7,068,457
Share-based payments (note 14)	-	-	16,213	-	-	16,213
Transfer for options forfeited	-	-	-	-	43,288	43,288
Currency translation reserve	-	-	-	641,224	-	641,224
Net loss	-	-	-	-	(1,411,754)	(1,411,754)
Balance, June 30, 2022	364,962,152	15,124,402	3,601,175	973,545	(13,341,694)	6,357,428

The accompanying notes are an integral part of these condensed unaudited interim consolidated financial statements.