$GRUSF

Eagleford Energy Inc.

CIK:0001463000|SEC Filings

Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) Unaudited - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Total revenue	$ 11,273,837	$ 8,009,987	$ 20,429,495	$ 15,160,170
Total cost of goods sold	(5,903,860)	(4,455,502)	(11,101,884)	(8,241,938)
Gross profit	5,369,977	3,554,485	9,327,611	6,918,232
Operating expenses
Amortization (Notes 9, 10)	65,650	107,927	156,812	212,911
General and administrative	4,318,584	2,678,372	7,930,407	5,210,626
Share-based compensation (Note 15)	149,087	336,825	304,081	1,772,735
Total operating expenses	4,533,321	3,123,124	8,391,300	7,196,272
Income (loss) from operations	836,656	431,361	936,311	(278,040)
Other income (expense)
Interest expense (Note 11, 12)	(429,240)	(432,553)	(979,220)	(690,724)
Other income (expense)	(116,128)	(173,887)	49,140	623,069
Interest income	104,356	36,337	146,543	72,274
Unrealized gain (loss) on derivative liability (Note 12)	82,006	(2,892,027)	148,383	(27,654)
Realized gain on derivative liability (Note 12)		5,889,032		5,859,744
Unrealized loss on warrant asset (Note 6)	(556,583)	(168,162)	(2,747,667)	(1,340,654)
Unrealized gain (loss) on warrant liability (Note 12)	(337,167)		433,547
Loss on equity investment in associate (Note 7)	(193,593)	(114,686)	(293,250)	(268,420)
Total other income (expense), net	(1,446,349)	2,144,054	(3,242,524)	4,227,635
Income (loss) before income tax expense	(609,693)	2,575,415	(2,306,213)	3,949,595
Income tax expense (Note 17)	(871,331)	(920,037)	(1,388,202)	(1,551,347)
Net income (loss)	(1,481,024)	1,655,378	(3,694,415)	2,398,248
Other comprehensive income
Currency translation adjustment		(6,547)		1,285
Total comprehensive income (loss)	$ (1,481,024)	$ 1,648,831	$ (3,694,415)	$ 2,399,533
Basic income (loss) per share	$ (0.01)	$ 0.01	$ (0.02)	$ 0.01
Basic weighted average number of subordinate voting common shares outstanding	249,938,980	247,015,784	249,926,825	237,157,649
Diluted income (loss) per share	(0.01)	0.01	(0.02)	0.01
Diluted weighted average number of subordinate voting common shares outstanding	$ 249,938,980	$ 252,922,833	$ 249,926,825	$ 243,607,029
Net income (loss) for the period attributable to:
Shareholders	$ (1,692,836)	$ 1,499,975	$ (4,395,053)	$ 2,098,757
Non-controlling interest	211,812	155,403	700,638	299,491
Net income (loss)	(1,481,024)	1,655,378	(3,694,415)	2,398,248
Total comprehensive income (loss) for the period attributable to:
Shareholders	(1,692,836)	1,322,312	(4,395,053)	2,100,042
Non-controlling interest	211,812	326,519	700,638	299,491
Total comprehensive income (loss)	(1,481,024)	1,648,831	(3,694,415)	2,399,533
Product [Member]
Total revenue	11,273,837	8,009,987	20,429,495	15,160,170
Cost of finished cannabis inventory sold [Member]
Total cost of goods sold	$ (5,903,860)	$ (4,455,502)	$ (11,101,884)	$ (8,241,938)

Condensed Consolidated Statements of Changes in Cash Flows Unaudited - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net income (loss)	$ (3,694,415)	$ 2,398,248
Adjustments for non-cash items in net income (loss) and earnings impact of warrant liability reclassification:
Depreciation of property and equipment	156,812	212,911
Depreciation of property and equipment included in costs of finished cannabis inventory sold	1,577,038	795,337
Lease costs included in costs of finished cannabis inventory sold	542,497	927,805
Share-based compensation	304,081	1,772,735
Interest and accretion expense	979,220	690,724
Other income		(5,251)
Interest income	(84,844)	(72,274)
Unrealized (gain) loss on derivative liability	(148,383)	27,654
Realized (gain) loss on derivative liability		(5,859,744)
Unrealized loss on warrant asset	2,747,667	1,340,654
Unrealized gain on warrant liability	(433,547)
Loss on equity investment in associate	293,250	268,420
Deferred income taxes	(272,243)	(55,184)
Changes in operating assets and liabilities (Note 18)	2,280,732	(3,098,916)
Net cash provided by (used in) operating activities	4,247,865	(656,881)
Investing activities
Purchase of property and equipment	(5,498,773)	(241,532)
Payments of business acquisition consideration payable	(377,988)	(254,828)
Investment in Rogue EBC, LLC equity interest	(415,000)	(468,000)
Net cash used in investing activities	(6,291,761)	(964,360)
Financing activities
Sale of non-controlling interest in GRMA, net of issuance costs	2,985,000
Proceeds from exercise of stock options	21,839	402,844
Proceeds from long-term debt	1,000,000	7,471,063
Distributions to non-controlling interests in subsidiaries	(235,156)	(70,000)
Debt issuance costs		(246,913)
Repayment of long-term debt	(1,529,295)	(1,169,064)
Payment of interest on convertible debentures		(79,755)
Repayment of finance lease	(37,500)	(6,250)
Net cash provided by financing activities	2,204,888	6,301,925
Effect of foreign exchange on cash and cash equivalents		1,285
Change in cash and cash equivalents	160,992	4,681,969
Cash and cash equivalents, beginning of period	11,371,834	4,917,708
Cash and cash equivalents, end of period	$ 11,532,826	$ 9,599,677

Condensed Consolidated Balance Sheets Unaudited - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 11,532,826	$ 11,371,834
Accounts receivable, net (Note 4)	3,675,083	2,908,270
Inventory (Note 5)	6,714,122	7,081,295
Prepaid expenses	355,531	563,912
Derivative asset (Note 12)	11,342
Current portion of notes receivable (Note 8)	265,972	253,403
Total current assets	22,554,876	22,178,714
Other long-term assets	300,000	300,000
Warrants asset (Note 6)	2,355,605	5,103,272
Other investments (Note 7)	1,480,610	1,358,860
Notes receivable (Note 8)	1,756,032	1,683,757
Lease receivable	94,022	94,022
Property and equipment, net (Note 9)	17,820,475	14,055,552
Right of use assets (Note 10)	13,838,966	13,414,406
Deferred tax asset	1,795,003	1,522,760
Intangible assets	3,025,193	3,025,193
TOTAL ASSETS	65,020,782	62,736,536
Current liabilities
Accounts payable and accrued liabilities	2,544,834	1,262,519
Current portion of operating lease liabilities (Note 10)	1,020,063	844,421
Current portion of finance lease liabilities (Note 10)	158,219	152,705
Current portion of long-term debt (Note 11)	3,002,684	2,576,228
Current portion of business acquisition consideration payable	464,486	455,844
Derivative liability		137,041
Warrant liabilities (Note 12)	1,106,118
Income tax payable	412,770	296,018
Total current liabilities	8,709,174	5,724,776
Operating lease liabilities (Note 10)	13,404,472	13,010,805
Finance lease liabilities (Note 10)	40,565	67,782
Long-term debt (Note 11)	9,730,478	10,019,301
Business acquisition consideration payable	1,545,805	1,611,637
Other non-current liabilities	9,830,257	8,383,888
TOTAL LIABILITIES	43,260,751	38,818,189
SHAREHOLDERS’ EQUITY
Subordinate voting common shares, convertible into multiple voting common shares, no par value; unlimited shares authorized; 249,938,980 and 249,738,980 shares issued and outstanding as at June 30, 2026 and December 31, 2025, respectively	61,375,330	62,589,075
Multiple voting common shares, no par value; unlimited shares authorized; nil 0 and nil 0 shares issued and outstanding as at June 30, 2026 and December 31, 2025, respectively
Accumulated other comprehensive loss	(121,906)	(121,906)
Accumulated deficit	(45,959,008)	(41,563,955)
Equity attributable to shareholders	15,294,416	20,903,214
Non-controlling interests (Note 22)	6,465,615	3,015,133
TOTAL SHAREHOLDERS’ EQUITY	21,760,031	23,918,347
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 65,020,782	$ 62,736,536