| Schedule of Consolidated Statements of Operations |
The following table summarizes the
major line items for the skincare business that are included in loss from discontinued operations, net of taxes in the consolidated statements
of operations:
| | |
Three months ended
June 30,
2025 | | |
Three months ended
June 30,
2024 | | |
Six months ended
June 30,
2025 | | |
Six months ended
June 30,
2024 | |
| Revenue | |
$ | - | | |
$ | 605,530 | | |
$ | 152,381 | | |
$ | 1,220,093 | |
| Cost of goods sold | |
| - | | |
| 166,274 | | |
| 30,530 | | |
| 335,185 | |
| Gross profit | |
$ | - | | |
$ | 439,256 | | |
$ | 121,851 | | |
$ | 884,908 | |
| | |
| | | |
| | | |
| | | |
| | |
| Expenses | |
| | | |
| | | |
| | | |
| | |
| Depreciation | |
| - | | |
| 2,570 | | |
| 517 | | |
| 4,818 | |
| Marketing and promotion | |
| - | | |
| 587,893 | | |
| 6,924 | | |
| 849,415 | |
| Consulting fees | |
| - | | |
| 5,600 | | |
| - | | |
| 23,253 | |
| Office and administrative | |
| 7,661 | | |
| 515,619 | | |
| 54,875 | | |
| 1,261,767 | |
| Professional fees | |
| - | | |
| 109,436 | | |
| 50,460 | | |
| 246,068 | |
| Investor relations | |
| - | | |
| 390 | | |
| | | |
| 7,057 | |
| Research and development | |
| - | | |
| 17,561 | | |
| 16,921 | | |
| 117,973 | |
| Foreign exchange (gain) loss | |
| - | | |
| 53 | | |
| 1,875 | | |
| (1,198 | ) |
| Travel and entertainment | |
| - | | |
| 52,505 | | |
| 10,726 | | |
| 111,613 | |
| Total expenses | |
$ | 7,661 | | |
$ | 1,291,627 | | |
$ | 142,298 | | |
$ | 2,620,766 | |
| | |
| | | |
| | | |
| | | |
| | |
| Other income (expense) | |
| | | |
| | | |
| | | |
| | |
| Other income | |
| 24,796 | | |
| - | | |
| 49,614 | | |
| 34,723 | |
| Interest expense | |
| - | | |
| (7,209 | ) | |
| - | | |
| (11,574 | ) |
| Loss on the sale of Skincare | |
| - | | |
| - | | |
| (39,676 | ) | |
| - | |
| Net income (loss) from discontinued operations | |
$ | 17,135 | | |
$ | (859,580 | ) | |
$ | (10,509 | ) | |
$ | (1,712,709 | ) |
|
| Schedule of Major Classes of Assets and Liabilities of Discontinued Operations |
The following table summarizes the
carrying amounts of major classes of assets and liabilities of discontinued operations as at the Closing Date (January 16, 2025) and
December 31, 2024:
| | |
Closing Date
January 16,
2025 | | |
December 31,
2024 | |
| Assets | |
| | |
| |
| Receivables, net | |
| 71,793 | | |
| 43,497 | |
| Inventory | |
| 875,996 | | |
| 898,962 | |
| Prepaid expenses and deposits | |
| 94,568 | | |
| 137,875 | |
| Property and equipment | |
| 47,618 | | |
| 48,134 | |
| Right of use asset | |
| 51,721 | | |
| 64,340 | |
| Total assets held for sale | |
| 1,141,696 | | |
| 1,192,808 | |
| | |
| | | |
| | |
| Liabilities | |
| | | |
| | |
| Accounts payable and accrued liabilities | |
| 307,024 | | |
| 449,125 | |
| Customer deposits | |
| 13,806 | | |
| 34,302 | |
| Lease liability | |
| 52,640 | | |
| 65,489 | |
| Total liabilities held for sale | |
| 373,470 | | |
| 548,916 | |
| | |
| | | |
| | |
| Total assets and liabilities held for sale, net | |
| 768,226 | | |
| 643,892 | |
|
| Schedule of Cash Flows From Operating and Investing Activities of Discontinued Operations |
The following represents the cash flows
from operating and investing activities of discontinued operations for the six months ended June 30, 2025 and 2024:
| | |
June 30,
2025 | | |
June 30,
2024 | |
| Cashflows used in operating activities | |
$ | (174,767 | ) | |
$ | (1,912,907 | ) |
| Cashflows used in investing activities | |
| - | | |
| (9,160 | ) |
|