(a) Newly Adopted
Accounting
Standards
During
the
period,
there
has
been
no
new
Accounting
Standards
Update,
or
ASU,
issued
by
the
Financial
Accounting
Standards
Board,
or the
FASB,
that had
a material
impact on
the Company’s
consolidated
financial
statements.
(b) Accounting
Standards
Not Yet
Implemented
ASU
No.
2024-03
–
Income
Statement
–
Reporting
Comprehensive
Income
–
Expense
Disaggregation
Disclosures
(Subtopic
220-40)
:
Disaggregation
of
Income
Statement
Expenses.
In
November
2024,
the FASB
issued
ASU
2024-03,
which
requires
disclosure,
in
the notes
to
financial
statements,
of
specified
information
about
certain
costs
and expenses.
The
amendments
aim
to
improve financial
reporting
by requiring
that
public
business
entities
disclose
additional
information
about
specific
expense
categories
in
the
notes
to
financial
statements at interim and
annual reporting periods.
The updated standard is effective
for annual reporting periods
beginning
after
December
15, 2026,
and
interim
reporting
periods
beginning
after
December
15,
2027.
Early
adoption
is permitted.
The Company is
currently evaluating
the impact
that the updated
standard will
have on
its
financial
statement disclosures.
ASU
No.
2025-11
–
Interim
Reporting
(Topic
270
):
Narrow-Scope
Improvements
issued
ASU
2025-11
to
clarify
interim
financial
reporting
guidance
under
Topic
270.
The
amendments
aim
to
make
the
interim
reporting
requirements
easier
to
navigate
and
apply.
The
amendments
do
not
change
the
substance
of
existing
interim
reporting
requirements
but
reorganize
and
clarify
when
and
how
the
guidance
applies.
The
amendments
also
introduce
a new
disclosure
principle
requiring
entities
to
disclose
events
and
changes occurring
since the end of
the last annual reporting period
that have a material impact on
the entity.
The
updated
standard
will
be effective
for annual
periods
beginning
after
December
15, 2027,
and interim
reporting
periods
within those
annual
reporting
periods.
The Company
is currently
evaluating the
impact
that the
updated
standard
will have on
its
financial
statement disclosures.
ASU No. 2026-02 – Environmental Credits
and Environmental Credit
Obligations (Topic
818
issued
ASU
2026-02
which
provides
recognition,
measurement,
presentation,
and
disclosure
requirements
for
environmental
credits and environmental
credit obligations.
The
updated
standard is effective
for public
business
entities
for
annual
reporting
periods
beginning
after
December
15,
2027,
and
interim
reporting
periods
within
those
annual
reporting
periods.
The Company
is currently
evaluating
the impact
that the
updated
standard
will
have on
its
results and
disclosures.
There have been no other recent accounting
pronouncements
not yet effective
that have significance, or potential
significance,
to
the Company’s
consolidated
financial
statements.