Bitcoin Treasury Cash Flow Statement

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025
Period Ending	Dec '25 Dec 31, 2025
Net Income	-44.22
Stock-Based Compensation	24.08
Other Operating Activities	15.07
Change in Accounts Receivable	-0
Change in Accounts Payable	0.32
Change in Other Net Operating Assets	-0.21
Operating Cash Flow	-4.96
Other Investing Activities	-113.13
Investing Cash Flow	-113.13
Long-Term Debt Issued	25
Net Debt Issued (Repaid)	25
Issuance of Common Stock	100
Other Financing Activities	-5.17
Financing Cash Flow	119.83
Net Cash Flow	1.74
Change in Working Capital	0.11

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