Unisync : Q2 ended March 31, 2021

Condensed interim consolidated financial statements of

Unisync Corp.

As at and for the three and six month period ended March 31, 2021

Unisync Corp.
March 31, 2021
Table of contents
Notice of no auditor review....................................................................................................................................	2
Condensed interim consolidated statements of income .......................................................................................	3
Condensed interim consolidated statements of comprehensive income (loss) ....................................................	4
Condensed interim consolidated statements of financial position.........................................................................	5
Condensed interim consolidated statements of changes in equity .......................................................................	6
Condensed interim consolidated statements of cash flows ..................................................................................	7
Condensed interim notes to the consolidated financial statements .................................................................	8-25

Notice of No Auditor Review of Condensed Interim Consolidated Financial Statements

In accordance with National Instrument 51-102 released by the Canadian Securities Administrators, the Corporation discloses that its auditors have not reviewed these condensed unaudited interim consolidated financial statements as at and for the three and six months ended March 31, 2021.

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Unisync Corp.
Condensed interim consolidated statements of income (loss)
For the three months and six months ended March 31, 2021 and March 31, 2020
(Expressed in Canadian dollars)
(Unaudited)
	three months ended		six months ended
	March 31	March 31	March 31	March 31
	2021	2020	2021	2020
	$	$	$	$
Revenue	21,144,921	27,739,719	46,213,241	54,816,455
Direct expenses (Note 16)	16,605,817	20,833,391	34,564,091	41,547,767
General and administrative expenses (Note 16)	3,979,506	4,748,299	8,375,210	9,349,868
Depreciation and amortization (Notes 5,6,7)	1,018,145	904,012	1,961,809	1,729,916
	(458,547)	1,254,017	1,312,131	2,188,904
Interest expense (Notes 9,10,11)	483,134	735,098	1,040,000	1,402,461
Share-based payment (Note 13)	109,912	-	263,606	79,232
Net income (loss) before income taxes	(1,051,593)	518,919	8,525	707,211
Income tax expense (recovery) (Note 15)	(268,812)	155,802	30,130	254,988
Net income (loss)	(782,781)	363,117	(21,605)	452,223
Attributable to
Unisync Corp. shareholders	(853,847)	309,441	(179,013)	376,931
Minority partner	71,066	53,676	157,407	75,292
	(782,781)	363,117	(21,606)	452,223
Net income (loss) per share attributable to Unisync Corp. shareholders
Basic	(0.05)	0.02	(0.01)	0.02
Diluted	(0.05)	0.02	(0.01)	0.02
Weighted average number of shares	18,937,228	18,562,228	18,924,865	18,102,403
Diluted weighted number of shares outstanding	18,937,228	18,743,449	18,924,865	18,347,192

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

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Unisync Corp.

Condensed interim consolidated statements of comprehensive income (loss) For the three and six months ended March 31, 2021 and March 31, 2020

(Expressed in Canadian dollars) (Unaudited)

	three months ended		six months ended
	March 31,	March 31,	March 31,	March 31,
	2021	2020	2021	2020
	$	$	$	$
Net income (loss)	(782,781)	363,117	(21,606)	452,223
Items that may be reclassified subsequently to income or loss
Other comprehensive income (loss), net of taxes
Currency translation adjustment	(6,156)	271,549	1,049	237,357
Comprehensive income (loss)	(788,937)	634,666	(20,557)	689,580
Attributable to
Unisync Corp. shareholders	(860,003)	580,990	(177,964)	614,288
Minority partner	71,066	53,676	157,407	75,292
	(788,937)	634,666	(20,557)	689,580

The accompanying notes are an intergral part of these consolidated financial statements.

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