NOTE 3 - INVENTORY

A summary of the Company’s inventory as at March 31, 2026 and December 31, 2025 is as follows:

The Company evaluates its inventory, including work in progress, at each reporting period to ensure it is stated at the lower of cost or net realizable value (“NRV”). NRV is defined as the estimated selling price in the ordinary course of business less reasonably predictable costs of completion, disposal, and transportation.

If the estimated NRV of inventory is less than its recorded cost, the Company records a write-down to reflect the inventory at NRV. Such write-downs are recognized in cost of goods sold in the period identified.