COSMO VENTURES INC

CIK:0001575295|SEC Filings

Condensed Consolidated Interim Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Condensed Consolidated Interim Statements of Operations and Comprehensive Loss
Sales	$ 27,669	$ 19,039
Cost of sales	(14,058)	(2,003)
Gross margin	13,611	17,036
Amortization and depreciation	33,343	35,419
Consulting fees (Note 13)	173,808	441,487
Office and miscellaneous	208,331	152,822
Professional fees	112,833	60,789
Convertible note interest	94,114	118,646
Operating expenses	622,429	809,163
Loss before other items	(608,818)	(792,127)
Other income (expenses):
Interest expense and bank charges	(123,543)	(92,867)
Foreign exchange loss	(47,929)	48,321
Net loss	(780,290)	(836,673)
Foreign currency translation adjustment	29,587	(16,622)
Comprehensive loss	$ (750,703)	$ (853,295)
Loss per share - basic and diluted	$ (0.01)	$ (0.01)
Weighted average number of shares outstanding - basic and diluted	113,437,620	102,861,018

Condensed Consolidated Interim Statements of Cash Flows - USD ($)	3 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Operating activities:
Net loss for the year	$ (780,290)	$ (836,673)
Adjustments for non-cash items:
Accrued interest	217,038	210,790
Amortization and depreciation	33,343	35,419
Stock-based compensation - options	53,941	143,653
Adjustments for changes in working capital:
Inventory	(10,864)	(82,277)
Other receivables	(27,984)	(20,277)
Prepaid expenses	(8,642)	(676)
Deposits and advances	3,110	2,437
Accounts payable and accrued liabilities	35,628	(37,695)
Payments of lease liabilities	8,585	0
Due to related parties	(15,858)	118,920
Net cash used in operating activities	(509,163)	(466,379)
Investing activities:
Purchases of property, plant and equipment	(37,394)	0
Net cash used in investing activities	(37,394)	0
Financing activities:
Repayment of loan payable	(8,965)	0
Proceeds from the issuance of common stock	390,000	0
Proceeds for subscriptions of stock issuable	0	346,000
Net cash provided by financing activities	381,035	346,000
Effect of exchange rate on changes of cash	1,769	(49,763)
Net change in cash	(165,522)	(120,379)
Cash, beginning of period	359,103	209,736
Cash, end of period	195,350	39,594
Supplemental cash flow disclosures:
Income taxes paid	0	0
Interest paid	$ 4,682	$ 0

Condensed Consolidated Interim Balance Sheets - USD ($)	Nov. 30, 2024	Aug. 31, 2024
Current assets
Cash	$ 195,350	$ 359,103
Inventory (Note 3)	287,053	261,016
Accounts receivable	75,939	47,955
Prepaid expenses	54,127	45,485
Total current assets	612,469	713,559
Deposits and advances (Note 5)	17,558	20,668
Right-of-use assets (Note 9)	120,114	131,865
Property, plant and equipment (Note 6)	1,173,224	1,218,111
Intangible assets (Note 7)	27,149	30,638
Total assets	1,950,514	2,114,841
LIABILITIES AND STOCKHOLDERS' DEFICIT
Accounts payable and accrued liabilities	2,758,604	2,703,163
Due to related parties (Note 13)	122,873	353,513
Current portion of lease liabilities (Note 9)	17,239	17,090
Loans payable (Note 10)	2,813,600	2,699,641
Secured convertible notes payable (Note 11)	3,774,891	3,774,891
Total current liabilities	9,487,207	9,548,298
Non-current liability
Lease liabilities, net of current portion (Note 9)	103,751	115,007
Total liabilities	9,590,958	9,663,305
Common stock - 300,000,000 shares authorized, $0.0001 par value; 115,495,384 shares issued and outstanding August 31, 2024 - 112,471,472)	11,550	11,248
Additional paid in capital	43,272,117	42,613,696
Common stock issuable	30,000	30,000
Accumulated deficit	(50,364,810)	(49,584,520)
Accumulated other comprehensive loss	(589,301)	(618,888)
Total stockholders' deficit	(7,640,444)	(7,548,464)
Total liabilities and stockholders' deficit	$ 1,950,514	$ 2,114,841