v3.25.1
RECEIVABLES
 3 Months Ended
Mar. 31, 2025
Schedule Of Amounts Receivable  
RECEIVABLES

 

4.RECEIVABLES

 

As at  March 31, 2025   December 31, 2024 
Trade accounts receivable  $667,330   $674,998 
Sales tax receivable   66,539    54,592 
Trade and other receivables, gross  $733,869   $729,590 
Current portion  $577,669   $573,390 
Long term portion   156,200    156,200 
Trade and other receivables, net  $733,869   $729,590 

 

Provision for doubtful accounts

 

Balance at December 31, 2023   289,495 
Increase during the year   140,011 
Balance at December 31, 2024   429,506 
Increase during the period   26,703 
Balance at March 31, 2025  $456,209 

 

During the three months ended March 31, 2025, the Company recorded a provision for doubtful accounts of $26,703 (2024 – $nil).

 

The long-term receivable represents a refundable deposit that the Company has asked to have returned. The agreement allows for a two-year repayment term once the request has been made. Funds were requested in April of 2024.

 

The Company applies a direct customer analysis approach to measure expected credit losses. The Company assesses collectability of receivables of each customer on an individual basis using quantitative and qualitative information available to management. The historical loss rates are adjusted to reflect the current and forward-looking information on economic factors affecting the ability of the customers to make regular monthly payments on the receivables.

 

Receivables are written off when there is no reasonable expectation of recovery. Indicators that there is no reasonable expectation of recovery include business closure and/or the failure to make monthly contractual payments.

 

 

Draganfly Inc.

Notes to the Condensed Consolidated Interim Financial Statements

For the Three Months Ended March 31, 2025

Expressed in Canadian Dollars (unaudited)