Bayhorse Silver Cash Flow Statement

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2016
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	2020 - 2016
Net Income	-5.39	-3.99	-2.03	-3.02	-5.85	Upgrade
Depreciation & Amortization	0.27	0.27	0.27	0.28	0.28	Upgrade
Stock-Based Compensation	0.35	0.37	0.04	-	0.96	Upgrade
Provision & Write-off of Bad Debts	-0.03	-	-	-	-	Upgrade
Other Operating Activities	3.09	1.28	0.8	0.52	1.24	Upgrade
Change in Accounts Receivable	0.07	-0.07	-0.05	0	0.01	Upgrade
Change in Accounts Payable	-0.33	1.07	0.34	0.23	-0.27	Upgrade
Change in Other Net Operating Assets	-0.14	-0.19	-0.01	0.07	-0.21	Upgrade
Operating Cash Flow	-2.11	-1.25	-0.63	-1.92	-3.83	Upgrade
Capital Expenditures	-0.03	-0.02	-	-0.07	-0.68	Upgrade
Other Investing Activities	0.04	0.04	0.01	-	-0.01	Upgrade
Investing Cash Flow	0.01	0.02	0.01	-0.07	-0.69	Upgrade
Short-Term Debt Repaid	-	-	-	-	-0.16	Upgrade
Long-Term Debt Repaid	-0.03	-0.04	-	-0.07	-1.05	Upgrade
Total Debt Repaid	-0.03	-0.04	-	-0.07	-1.2	Upgrade
Net Debt Issued (Repaid)	-0.03	-0.04	-	-0.07	-1.2	Upgrade
Issuance of Common Stock	2.05	1.39	0.83	1.96	6.25	Upgrade
Other Financing Activities	-0.07	-0.04	-0.03	-0.02	-0.12	Upgrade
Financing Cash Flow	1.96	1.32	0.8	1.87	4.93	Upgrade
Net Cash Flow	-0.14	0.09	0.17	-0.12	0.41	Upgrade
Free Cash Flow	-2.13	-1.27	-0.63	-1.99	-4.51	Upgrade
Free Cash Flow Per Share	-0.01	-0.01	-0.00	-0.01	-0.03	Upgrade
Levered Free Cash Flow	-1.54	-0.54	-0.64	-0.79	-3.24	Upgrade
Unlevered Free Cash Flow	-1.54	-0.54	-0.64	-0.79	-3.2	Upgrade
Change in Working Capital	-0.4	0.82	0.28	0.3	-0.47	Upgrade

Source: S&P Capital IQ. Standard template. Financial Sources.