Investment in Associate

6 Months Ended

12 Months Ended

Jan. 31, 2026

Jul. 31, 2025

DevvStream Corp [Member]

Investment in Associate [Line Items]

Investment in associate

7. Investment in associate

On November 6, 2024, the Company received 2,000,000 shares in FCS, in connection with an agreement to acquire a stake in FCS in exchange for 200,000 shares of the Company that was entered into on October 28, 2024. At the time of acquisition, the 2,000,000 shares of FCS received by the Company represented 50% of shares outstanding, and the initial balance of investment was determined to be $1,220,000 being the fair value of the shares issued by the Company in consideration for the exchange. As at January 31, 2026, the Company’s share of ownership remained at 50%. Management assessed that the Company has significant influence over FCS based on its share of ownership, and that the investment should be accounted for using the equity method of accounting.

Summarized financial information of FCS and a reconciliation of the carrying amount of the investment set forth in the consolidated balance sheets are set out below:

Summarized balance sheet

		January 31, 2026
ASSETS
Cash		$	175
Due from related parties			123,075
Start-up costs, net			99,483
Total assets		$	222,733

LIABILITIES
Accounts payable and accrued liabilities		$	255,388
Convertible notes			1,322,100
Loan to shareholder			1,118
Total liabilities		$	1,578,606

Summarized statement of loss

		For the six months ended January 31, 2026				For the three months ended January 31, 2026
Operating expenses
General and administrative expenses		$	2,546			$	207
Guaranteed payments			150,899				—
Legal and professional fees			1,749				412
Travel			1,241				—
Amortization			7,869				2,376
Total operating expenses			(164,304	)			(2,995	)

Interest expenses			(36,050	)			(18,225	)
Net loss		$	(200,354	)		$	(21,220	)
Company’s ownership			50	%			50	%
Company’s share of loss		$	(100,177	)		$	(10,610	)

A continuity of the Company’s investment in associate is as follows:

Balance as at July 31, 2024		$	—
Investment by the Company			1,220,000
Company’s share of loss			(512,011	)
Balance as at July 31, 2025		$	707,989
Company’s share of loss			(100,177	)
Balance as at January 31, 2026		$	607,812

6. Investment in associate

On November 6, 2024, the Company received 2,000,000 shares in FCS, in connection with an agreement to acquire a stake in FCS in exchange for 200,000 shares of the Company that was entered into on October 28, 2024. At the time of acquisition, the 2,000,000 shares of FCS received by the Company represented 50% of shares outstanding, and the initial balance of investment was determined to be $1,220,000 being the fair value of the shares issued by the Company in consideration for the exchange. As at July 31, 2025, the Company’s share of ownership remained at 50%. Management assessed that the Company has significant influence over FCS based on its share of ownership, and that the investment should be accounted for using the equity method of accounting.

Summarized financial information of FCS and a reconciliation of the carrying amount of the investment set forth in the consolidated balance sheets are set out below:

Summarized balance sheet

		July 31, 2025
ASSETS
Cash		$	21,047
Due from related parties			110,040
Start-up costs, net			105,589
Total assets		$	236,676

LIABILITIES
Accounts payable and accrued liabilities		$	211,942
Convertible notes			1,286,050
Total liabilities		$	1,497,992

Summarized statement of loss

		November 6, 2024 to July 31, 2025
Operating expenses
Consulting expenses		$	646,799
Engineering			2,855
General and administrative expenses			6,057
Guaranteed payments			316,278
Legal and professional fees			10,185
Travel			7,310
Amortization			1,763
Total operating expenses			(991,247	)
Interest expenses			(32,775	)
Net loss		$	(1,024,022	)

A continuity of the Company’s investment in associate is as follows:

Balance as at July 31, 2024		$	—
Investment by the Company			1,220,000
Company’s share of loss			(512,011	)
Balance as at July 31, 2025		$	707,989