$KIQSF

KELSO TECHNOLOGIES INC

CIK:0001161814|SEC Filings

Consolidated Statements of Operations and Comprehensive Income Loss - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Statement
Revenues	$ 10,784,090	$ 10,680,468	$ 10,819,916
Cost of Goods Sold	6,351,346	5,986,836	6,237,469
Gross Profit	$ 4,432,744	$ 4,693,632	$ 4,582,447
Gross Profit Margin	41.00%	44.00%	42.00%
Expenses
Share-based expense	$ 13,969	$ 165,510	$ 129,490
Management fees	791,923	743,846	720,500
Consulting and filing fees	116,686	870,448	305,778
Investor relations	0	42,000	84,000
Accounting and legal	476,149	621,364	181,855
Office and administration	1,899,890	2,190,137	2,083,869
Research	277,600	373,467	529,961
Travel	133,304	105,844	118,011
Marketing	364,412	359,638	312,659
Foreign exchange loss (gain)	(99,842)	39,088	(118,128)
Amortization	14,962	16,217	12,299
Total Expenses	3,989,053	5,527,559	4,360,294
Income (Loss) before the following	443,691	(833,927)	222,153
Gain on repurchase of RSU's	2,518	6,030	40,785
Write-off of inventory	0	(588,505)	(214,225)
Gain on revaluation of derivative warrant liability	0	0	3,665
Other Miscellaneous Income	34,389	0
Income (Loss) before taxes	480,598	(1,416,402)	52,378
Income tax recovery (expense)	66,559	(236,453)	(170,475)
Net Income (Loss) for the Period from continuing operations	547,157	(1,652,855)	(118,097)
Net Income (Loss) for the Period from discontinued operations	(99,760)	(2,969,442)	(1,983,789)
Net Comprehensive Income (Loss) for the Period	$ 447,397	$ (4,622,297)	$ (2,101,886)
Basic Earnings (Loss) Per Share from continuing Operations	$ 0.01	$ (0.03)	$ (0)
Diluted Earnings (Loss) Per Share from continuing operations	0.01	(0.03)	(0)
Basic Earnings (Loss) Per Share from discontinued operations	(0)	(0.05)	(0.04)
Diluted Earnings (Loss) Per Share from discontinued operations	(0)	(0.05)	(0.04)
Basic Earnings (Loss) Per Share	0.01	(0.08)	(0.04)
Diluted Earnings (Loss) Per Share	$ 0.01	$ (0.08)	$ (0.04)
Weighted Average Number of Common Shares Outstanding
Basic (in shares)	55,183,419	54,551,139	54,337,995
Diluted (in shares)	55,503,414	54,551,139	54,337,995

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Operating Activities
Income (loss) from continuing operations	$ 547,157	$ (1,652,855)	$ (118,097)
Items not involving cash
Amortization of equipment and patent	98,523	108,115	119,930
Share-based expense	13,969	165,510	129,490
Foreign exchange	(99,842)	(3,476)	893
Gain on repurchase of RSUs	(2,518)	(6,030)	(40,785)
Gain on revaluation of Derivative Warrant Liability	0	0	(3,665)
Write-off of inventory	0	588,505	214,225
Cash flows from (used in) operations before changes in working capital	562,325	(800,231)	301,991
Changes in working capital
Accounts receivable	418,971	26,902	317,078
Prepaid expenses and deposit	(55,306)	71,537	(33,037)
Inventory	835,980	(255,249)	556,043
Accounts payable and accrued liabilities	(1,359,999)	1,087,096	(90,164)
RSU	17,763	0	0
Income tax payable	(136,822)	58,000	(20,602)
Changes in non-cash working capital	(279,414)	988,286	729,319
Cash Operating Activities from Continuing Operations	282,912	188,055	1,031,310
Cash Operating Activities from Discontinued Operations	(173,587)	(581,933)	(1,306,561)
Cash Provided by (Used in) Operating Activities	109,325	(393,878)	(275,251)
Investing Activities
Acquisition of property, plant and equipment	0	(11,280)	0
Proceeds from sale of equipment	0	7,004	0
Cash Investing Activities from Continuing Operations	0	(4,276)	0
Cash Investing Activities from Discontinued Operations	114,269	(746,761)	(846,832)
Cash Used in Investing Activities	114,269	(751,037)	(846,832)
Financing Activities
Repurchase of RSUs	(34,250)	(32,625)	(25,288)
Cash Financing Activities from Continuing Operations	(34,250)	(32,625)	(25,288)
Cash Financing Activities from Discontinued Operations	(42,958)	(106,099)	(130,081)
Cash Provided by (Used in) Financing Activities	(77,208)	(138,724)	(155,369)
Foreign Exchange Effect on Cash	99,842	2,948	(1,154)
Inflow (Outflow) of Cash	246,228	(1,280,691)	(1,278,608)
Cash, Beginning of Period	153,147	1,433,838	2,712,446
Cash, End of Period	$ 399,375	$ 153,147	$ 1,433,838

Consolidated Statements of Financial Position - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Current
Cash	$ 399,375	$ 153,147
Accounts receivable	632,568	1,091,304
Prepaid expenses	80,015	30,876
Inventory	2,206,770	3,042,749
Assets held for sale	0	89,719
Total current assets	3,318,728	4,407,795
Property, plant and equipment	1,989,845	2,162,549
Deferred Tax Asset	160,902	0
Intangible assets	1	1
TOTAL ASSETS	5,469,476	6,570,345
Current
Accounts payable and accrued liabilities	628,002	2,138,658
Income tax payable	92,104	68,024
Current portion of lease liability	56,997	56,997
RSU liability	0	18,730
Total current liabilities	777,103	2,282,409
Commitments And Contingencies1	0	0
Long term portion of lease liability	15,948	58,906
TOTAL LIABILITIES	793,051	2,341,315
Shareholders' Equity
Capital Stock	27,349,495	27,335,459
Reserves	4,785,166	4,799,204
Deficit	(27,458,236)	(27,905,633)
Stockholders' equity	4,676,425	4,229,030
TOTAL LIABILITIES AND EQUITY	$ 5,469,476	$ 6,570,345