Black Swan Graphene Balance Sheet

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	7.22	3	5.32	8.87	4.9
Cash & Short-Term Investments	7.22	3	5.32	8.87	4.9
Cash Growth	92.43%	-43.58%	-40.01%	81.13%	-
Other Receivables	0.36	0.61	0.58	0.3	0.04
Receivables	0.36	0.61	0.58	0.3	0.04
Prepaid Expenses	0.01	0	0	0	0.02
Other Current Assets	-	-	0	-	-
Total Current Assets	7.59	3.61	5.9	9.18	4.96
Long-Term Investments	0.8	0.8	0.8	-	-
Other Intangible Assets	5.6	6.31	7.25	8.2	9.14
Other Long-Term Assets	-	-	0	-	-
Total Assets	13.98	10.71	13.95	17.37	14.1
Accounts Payable	0.34	0.27	0.11	0.65	0.1
Total Current Liabilities	0.34	0.27	0.11	0.65	0.1
Other Long-Term Liabilities	-	-	-0	-	-
Total Liabilities	0.34	0.27	0.11	0.65	0.1
Common Stock	34.66	28.11	28.11	25.49	14.54
Additional Paid-In Capital	0.54	0.54	0.54	0.39	0.39
Retained Earnings	-25.34	-19.91	-16.52	-10.43	-1.94
Comprehensive Income & Other	3.78	1.7	1.7	1.28	1.01
Shareholders' Equity	13.64	10.44	13.83	16.73	14
Total Liabilities & Equity	13.98	10.71	13.95	17.37	14.1
Net Cash (Debt)	7.22	3	5.32	8.87	4.9
Net Cash Growth	92.43%	-43.58%	-40.01%	81.13%	-
Net Cash Per Share	0.16	0.08	0.14	0.29	8.65
Filing Date Shares Outstanding	51.54	37.72	37.72	36.31	13.83
Total Common Shares Outstanding	51.54	37.72	37.72	36.31	13.83
Working Capital	7.25	3.34	5.79	8.53	4.86
Book Value Per Share	0.26	0.28	0.37	0.46	1.01
Tangible Book Value	8.04	4.13	6.58	8.53	4.86
Tangible Book Value Per Share	0.16	0.11	0.17	0.23	0.35

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