| DISCONTINUED OPERATIONS |
| 3. |
DISCONTINUED OPERATIONS | As previously described, assets and liabilities and income (loss) from discontinued operations are presented separately in the Consolidated Balance Sheets and Statements of Operations for all periods presented. The following tables reconcile the carrying amounts of the major classes of assets and liabilities of discontinued operations to the current assets and liabilities of discontinued operations as presented on the Company’s Consolidated Balance Sheets:
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Assets and Liabilities of Discontinued Operations |
|
June 30,
2026 |
|
|
June 30,
2025 |
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| |
|
$ |
|
|
$ |
|
Current Assets of Discontinued Operations |
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|
|
|
|
|
|
Cash and cash equivalents |
|
|
55,638 |
|
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|
332,441 |
|
Accounts receivable, net |
|
|
31,458 |
|
|
|
465,104 |
|
Prepaids and other current assets |
|
|
4,067 |
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|
|
2,200 |
|
Inventories |
|
|
90,164 |
|
|
|
961,173 |
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|
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Total Current Assets of Discontinued Operations |
|
|
181,327 |
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|
|
1,760,918 |
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|
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|
|
|
|
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Current Liabilities of Discontinued Operations |
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|
|
|
|
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|
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Accounts payable and accrued liabilities |
|
|
111,733 |
|
|
|
173,438 |
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|
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Total Current Liabilities of Discontinued Operations |
|
|
111,733 |
|
|
|
173,438 |
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| The following table provides details about the major classes of line items constituting “Income (loss) from discontinued operations” as presented in the Company’s Consolidated Statements of Operations: Income (Loss) from Discontinued Operations
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Year ended |
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|
June 30,
2026 |
|
|
June 30,
2025 |
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| |
|
$ |
|
|
$ |
|
Sales |
|
|
3,176,496 |
|
|
|
4,942,633 |
|
Cost of sales |
|
|
(2,466,653 |
) |
|
|
(3,236,047 |
) |
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|
|
|
|
|
|
|
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Gross profit |
|
|
709,843 |
|
|
|
1,706,586 |
|
Operating Expenses |
|
|
|
|
|
|
|
|
General and administrative |
|
|
1,880,227 |
|
|
|
1,143,297 |
|
Research and development |
|
|
15,128 |
|
|
|
32,718 |
|
Amortization and depreciation |
|
|
2,197 |
|
|
|
2,396 |
|
|
|
|
|
|
|
|
|
|
Total Operating Expenses |
|
|
1,897,552 |
|
|
|
1,178,411 |
|
Income (Loss) of Discontinued Operations before Provision for Income Taxes |
|
|
(1,187,709 |
) |
|
|
528,175 |
|
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|
|
|
|
|
|
|
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Provision for Income Taxes |
|
|
— |
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|
|
— |
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|
|
|
|
|
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Net income (loss) of Discontinued Operations |
|
|
(1,187,709 |
) |
|
|
528,175 |
|
|
|
|
|
|
|
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| The following table presents cash flow information from the discontinued operations as presented in the Company’s Consolidated Statements of Cash Flows.
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$ |
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|
$ |
|
Changes in discontinued assets and liabilities |
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|
|
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|
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433,646 |
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(112,266 |
) |
|
|
|
(1,867 |
) |
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|
7,724 |
|
|
|
|
871,009 |
|
|
|
283,151 |
|
|
|
|
215,098 |
|
|
|
(362,152 |
) |
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|
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Operating cash flow used by discontinued operations |
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|
1,517,886 |
|
|
|
(183,543 |
) |
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