DIAGNOS : Q1 2024 Financial Statements – Download as

DIAGNOS Inc.

Interim Condensed Consolidated Financial Statements - Unaudited Three-month period ended June 30, 2023

Note to reader: These Interim Condensed Consolidated Financial Statements have not been reviewed by our auditor.

DIAGNOS Inc.

Interim Consolidated Statements of Financial Position

(amounts in Canadian dollars)

		As at
	Note	June 30, 2023	March 31, 2023
		$
ASSETS
Current
Cash		394,109	296,639
Short-term investments		300,000	-
Accounts receivable	5	264,210	263,269
Prepaid expenses		84,399	14,892
		1,042,718	574,800
Non-current
Capital assets		221,530	248,231
Total assets		1,264,248	823,031
LIABILITIES
Current
Accounts payable and accrued liabilities	6	481,294	460,014
Deferred revenue		8,735	6,710
Loans		184,173	168,888
Leases		83,159	83,159
		757,361	718,771
Non-current
Loans		189,606	203,378
Leases		132,362	152,727
Convertible debentures	7	2,461,764	1,696,362
		2,783,732	2,052,467
Total liabilities		3,541,093	2,771,238
SHAREHOLDERS' DEFICIENCY
Share capital	8	36,203,823	35,914,525
Reserve	9	9,722,284	9,588,048
Deficit		(48,278,532)	(47,526,360)
Foreign exchange differences		75,580	75,580
		(2,276,845)	(1,948,207)
Total liabilities and shareholders' deficiency		1,264,248	823,031

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

Approved by the Board of Directors:
(signed) Vincent Duhamel	(signed) André Larente
Acting chairman	Director

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DIAGNOS Inc.

Interim Consolidated Statements of Loss and Comprehensive Loss

(amounts in Canadian dollars)

		Three-month period ended June 30,
	Note	2023	2022
		$
Revenue	10	43,323	149,014
Expenses
Costs of services and research and development		216,568	244,920
Selling and administrative		467,680	581,657
	11	684,248	826,577
Loss before other items		(640,925)	(677,563)
Other income		7,572	6,221
Interest expense		(118,819)	(45,816)
Net loss		(752,172)	(717,158)
Basic and diluted net loss per share		(0.01)	(0.01)
Weighted-average number of common shares
outstanding		71,179,745	69,474,151

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

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DIAGNOS Inc.

Consolidated Statements of Changes in Equity

(amounts in Canadian dollars)

Three-month period ended June 30, 2023

	Share capital			Investments	Foreign	Total
	Reserve (note 9)	Deficit	revaluation	exchange	shareholders'
	(note 8)
			reserve	differences	deficiency
			$
Balance, beginning of period	35,914,525	9,588,048	(47,526,360)	-	75,580	(1,948,207)
Net loss	-	-	(752,172)	-	-	(752,172)
Issuance of common shares	289,298	(32,298)	-	-	-	257,000
Issuance of warrants	-	30,163	-	-	-	30,163
Conversion options	-	96,087	-	-	-	96,087
Issue expenses	-	(3,098)	-	-	-	(3,098)
Stock-based compensation expense	-	43,382	-	-	-	43,382
Balance, end of period	36,203,823	9,722,284	(48,278,532)	-	75,580	(2,276,845)
		Three-month period ended June 30, 2022
				Investments	Foreign	Total
	Share capital	Reserve	Deficit	revaluation	exchange	shareholders'
				reserve	differences	deficiency
			$
Balance, beginning of period	35,679,831	9,175,574	(44,992,462)	(53,082)	76,629	(113,510)
Net loss	-	-	(717,158)	-	-	(717,158)
Stock-based compensation expense	-	33,367	-	-	-	33,367
Balance, end of period	35,679,831	9,208,941	(45,709,620)	(53,082)	76,629	(797,301)

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

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DIAGNOS Inc.

Consolidated Statements of Cash Flows

(amounts in Canadian dollars)

		Three-month period ended June 30,
	Note	2023	2022
			$
Cash flows from operating activities
Net loss		(748,385)	(717,158)
Items not affecting cash
Depreciation of capital assets		28,101	27,306
Accretion on leases		6,504	5,751
Accretion on convertible debentures		44,779	15,874
Accretion on governmental loan		6,085	3,515
Governmental grant amortization		(4,572)	(3,221)
Stock-based compensation expense		43,382	33,367
		(624,106)	(634,566)
Payment of interest		51,660	3,176
Net change in operating working capital items		(50,930)	(12,597)
		(623,376)	(643,987)
Cash flows from investing activities
Proceeds from disposal of short-term investments		300,000	500,000
Acquisition of short term investments		(600,000)	-
Additions to capital assets		(1,400)	(1,177)
		(301,400)	498,823
Cash flows from financing activities
Issuance of convertible debentures and warrants,
net of issue expenses	7, 9	843,775	-
Issuance of common shares, net of issue expenses	8	257,000	-
Lease payments		(26,869)	(21,783)
Payment of interest		(51,660)	(3,176)
		1,022,246	(24,959)
Net change in cash		97,470	(170,123)
Cash, beginning of period		296,639	420,914
Cash, end of period		394,109	250,791

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

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