CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS OF
ADYA INC.
THREE AND SIX MONTHS ENDED JUNE 30, 2022 AND 2021
(EXPRESSED IN CANADIAN DOLLARS)
(UNAUDITED)
TO THE SHAREHOLDERS OF ADYA INC.
The unaudited condensed interim consolidated statements of financial position of Adya Inc. at June 30, 2022, the unaudited condensed interim consolidated statements of operations and comprehensive income (loss) for the three- and six month periods ended June 30, 2022 and June 30, 2021, and the unaudited condensed interim consolidated statements of shareholders' equity and cash flows for the six-month periods ended June 30, 2022 and June 30, 2021 have not been reviewed by the Company's auditors.
These unaudited condensed interim consolidated financial statements are the responsibility of management and have been reviewed and approved by the Company's Audit Committee and Board of Directors.
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Adya Inc.
Condensed Interim Consolidated Statements of Financial Position (unaudited)
(In Canadian Dollars)
As at June 30, 2022 and December 31, 2021
June 30, | December 31, | |||
Note | 2022 | 2021 | ||
Assets | ||||
Current assets: | ||||
Cash and cash equivalents | 4 | $ 57,526 | $ | 96,060 |
Trade and other receivables, net of | ||||
allowance for doubtful accounts | 5 | 306,563 | 266,691 | |
Inventory | 37,868 | 33,884 | ||
Prepaid expenses and other | 518,601 | 486,869 | ||
Total current assets | 920,558 | 883,504 | ||
Non-current assets: | ||||
Right-of-use assets | 6 | 265,307 | 379,435 | |
Property and equipment | 7 | 88,324 | 118,737 | |
Intangible assets | 8 | 337 | 984 | |
Total non-current assets | 353,968 | 499,156 | ||
Total assets | $ 1,274,526 | $ 1,382,660 | ||
Liabilities and Shareholders' Equity (Deficiency) | ||||
Current liabilities: | ||||
Accounts payable and accrued liabilities | 14 | $ 1,426,813 | $ | 1,060,323 |
Lease liabilities - current | 9 | 197,509 | 220,873 | |
Due to related party | 19 | 575,909 | 453,427 | |
Deferred revenue | 548,057 | 506,336 | ||
Notes payable - current | 10 | 177,836 | 177,836 | |
Total current liabilities | 2,926,124 | 2,418,795 | ||
Non-current liabilities: | ||||
Lease liabilities | 9 | 119,501 | 217,703 | |
Notes payable - long term | 10 | 640,799 | 640,799 | |
Long term loan | 60,000 | 60,000 | ||
Total non-current liabilities | 820,300 | 918,502 | ||
Total liabilities | 3,746,424 | 3,337,297 | ||
Shareholders' equity (deficiency): | ||||
Share capital | 11(a) | 5,634,247 | 5,634,247 | |
Contributed surplus | 11(b) | 621,402 | 621,402 | |
Deficit | (8,727,547) | (8,210,286) | ||
Total shareholders' equity (deficiency) | (2,471,898) | (1,954,637) | ||
Total equity and liabilities | $ 1,274,526 | $ 1,382,660 | ||
Contingencies | 17 | |||
Subsequent events | 21 |
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
Approved on behalf of the Board:
"Samer Bishay" | Director | "Magdi Wanis" | Director |
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Adya Inc.
Condensed Interim Consolidated Statements of Operations and Comprehensive Loss (unaudited) (In Canadian Dollars)
Three and six months ended June 30, 2022 and 2021
Three months ended | Six months ended | ||||||
June 30, | June 30 | ||||||
Note | 2022 | 2021 | 2022 | 2021 | |||
s | |||||||
Revenue | $ | 1,067,121 | $ | 1,222,074 | $ 2,186,533 | $ 2,461,243 | |
Telecommunications costs | 456,192 | 691,321 | 1,014,211 | 1,389,455 | |||
Gross margin | 610,929 | 530,753 | 1,172,322 | 1,071,788 | |||
Operating expenses | |||||||
General and administrative | 659,991 | 518,659 | 1,265,823 | 1,017,306 | |||
Marketing and selling | 22,128 | 71,239 | 72,942 | 137,730 | |||
Development and technical support | 77,847 | 77,048 | 155,481 | 153,915 | |||
Depreciation and amortization | 6,7,8 | 71,354 | 85,472 | 149,514 | 169,492 | ||
831,320 | 752,418 | 1,643,760 | 1,478,443 | ||||
Operating loss before finance costs | |||||||
and other income | (220,391) | (221,665) | (471,438) | (406,655) | |||
Finance costs, net | (34,088) | (30,325) | (49,009) | (57,348) | |||
Other income | 1,719 | 32,006 | 3,187 | 104,390 | |||
(32,369) | 1,681 | (45,822) | 47,042 | ||||
Loss before income taxes | (252,760) | (219,984) | (517,260) | (359,613) | |||
Income tax (expense) recovery | 3 | - | - | - | - | ||
Net loss and comprehensive loss | $ | (252,760) | $ | (219,984) | $ (517,260) | $ (359,613) | |
Loss per share: | |||||||
Basic and diluted | 12 | $ | (0.01) | $ | (0.01) | $ (0.01) | $ (0.01) |
The accompanying notes are an integral part of these consolidated financial statements
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Adya Inc.
Condensed Interim Consolidated Statements of Shareholders' deficiency (unaudited) (In Canadian Dollars)
Six months ended June 30, 2022 and 2021
Total | ||||||||
Share | Contributed | Deficit | shareholders' | |||||
capital | surplus | equity (deficiency) | ||||||
Balance, December 31, 2020 | $ | 5,634,247 | $ | 621,402 | $ | (7,465,278) | $ | (1,209,629) |
Net loss for the period | - | - | (359,613) | (359,613) | ||||
Balance, June 30, 2021 | 5,634,247 | 621,402 | (7,824,891) | (1,569,242) | ||||
Balance, December 31, 2021 | $ | 5,634,247 | $ | 621,402 | $ | (8,210,286) | $ | (1,954,637) |
Net loss for the period | - | - | (517,260) | (517,260) | ||||
Balance, June 30, 2022 | $ | 5,634,247 | $ | 621,402 | $ | (8,727,546) | $ | (2,471,897) |
The accompanying notes are an integral part of these consolidated financial statements
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ADYA Inc. published this content on 19 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 August 2022 21:55:06 UTC.