Unisync : Q3 ended June 30, 2021

Condensed interim consolidated financial statements of

Unisync Corp.

As at and for the three and nine month period ended June 30, 2021

Unisync Corp.
June 30, 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 .................................................................	8-26

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 nine months ended June 30, 2021.

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Unisync Corp.
Condensed interim consolidated statements of income (loss)
For the three months and nine months ended June 30, 2021 and June 30, 2020
(Expressed in Canadian dollars)
(Unaudited)
	three months ended		nine months ended
	June 30	June 30	June 30	June 30
	2021	2020	2021	2020
	$	$	$	$
Revenue	20,654,402	17,164,639	66,867,643	71,981,094
Direct expenses (Note 16)	16,098,931	14,077,605	50,663,023	55,625,372
General and administrative expenses (Note 16)	4,270,939	3,301,238	12,646,149	12,651,105
Depreciation and amortization (Notes 5,6,7)	1,113,888	951,522	3,075,696	2,681,438
	(829,356)	(1,165,726)	482,775	1,023,179
Interest expense (Notes 9,10,11)	483,717	591,492	1,523,717	1,993,953
Share-based payment (Note 13)	88,052	-	351,658	79,232
Net income (loss) before income taxes	(1,401,125)	(1,757,218)	(1,392,600)	(1,050,006)
Income tax expense (recovery) (Note 15)	(360,675)	(640,552)	(330,545)	(385,564)
Net income (loss)	(1,040,450)	(1,116,666)	(1,062,055)	(664,442)
Attributable to
Unisync Corp. shareholders	(1,101,252)	(1,186,954)	(1,280,264)	(810,022)
Minority partner	60,802	70,288	218,209	145,580
	(1,040,450)	(1,116,666)	(1,062,055)	(664,442)
Net income (loss) per share attributable to Unisync Corp. shareholders
Basic	(0.06)	(0.06)	(0.07)	(0.04)
Diluted	(0.06)	(0.06)	(0.07)	(0.04)
Weighted average number of shares	18,937,228	18,647,393	18,928,986	18,283,403
Diluted weighted number of shares outstanding	18,950,707	18,754,849	18,928,986	18,473,057

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 nine months ended June 30, 2021 and June 30, 2020

(Expressed in Canadian dollars) (Unaudited)

	three months ended		nine months ended
	June 30,	June 30,	June 30,	June 30,
	2021	2020	2021	2020
	$	$	$	$
Net income (loss)	(1,040,450)	(1,116,666)	(1,062,056)	(664,442)
Items that may be reclassified subsequently to income or loss
Other comprehensive income (loss), net of taxes
Currency translation adjustment	(12)	(226,605)	1,037	10,752
Comprehensive income (loss)	(1,040,462)	(1,343,271)	(1,061,019)	(653,690)
Attributable to
Unisync Corp. shareholders	(1,101,264)	(1,413,559)	(1,279,227)	(799,270)
Minority partner	60,802	70,288	218,209	145,580
	(1,040,462)	(1,343,271)	(1,061,018)	(653,690)

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

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