Reunion Neuroscience Inc.

CIK:0001865482|SEC Filings

CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS - CAD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
OPERATING EXPENSES
General and administration	$ 12,960,316	$ 10,989,450
Research and development	12,980,137	6,958,216
TOTAL OPERATING EXPENSES	25,940,453	17,947,666
OTHER INCOME (EXPENSES)
Interest income	691,789	397,516
Foreign exchange gain (loss)	747,945	(211,500)
Tax credit refund	184,087
Impairment of investment in associate	(8,336,404)
Share of loss of associate	(3,426,629)
Amortization, derecognition and remeasurement of financial guarantees	(2,022,636)
Net loss from continuing operations	(38,102,301)	(17,761,650)
Net loss before tax from discontinued Clinic Operations	(10,390,695)	(36,929,480)
NET LOSS	(48,492,996)	(54,691,130)
Exchange loss from translation of foreign subsidiaries	30,043
Share of exchange gain in associate	20,482
Exchange gain (loss) from translation of foreign subsidiaries	(1,507,515)	356,345
COMPREHENSIVE LOSS NET LOSS PER SHARE	$ (49,949,986)	$ (54,334,785)
NET LOSS PER SHARE
Basic	$ (4.17)	$ (0.95)
Diluted	(4.17)	(0.95)
Basic	(3.28)	(0.31)
Diluted	$ (3.28)	$ (0.31)

CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD ($)	Mar. 31, 2023	Mar. 31, 2022
OPERATING ACTIVITIES
Net loss before tax from continuing operations	$ (38,102,301)	$ (17,761,650)
Net loss before tax from discontinued Clinic Operations	(10,390,695)	(36,929,480)
Net loss before tax	(48,492,996)	(54,691,130)
Items not involving cash:
Depreciation and amortization	1,204,670	3,603,067
Share-based payments	2,830,808	7,165,611
Unrealized foreign exchange gain (loss)	(1,491,984)	70,597
Government assistance		(16,492)
Impairment of investment in associate	8,336,404
Share of loss of associate	3,426,629
Share of exchange gain in associate	(7,570)
Amortization, derecognition and remeasurement of financial guarantees	2,022,636
Impairment of fixed assets	997,524
Gain on proceeds from short-term investments		(335,058)
Interest income	(691,789)	(90,846)
Interest expense	585,492	1,096,343
Net change in non-cash working capital	3,296,244	(386,551)
Cash flows excluded from used in operating activities	(27,983,932)	(43,584,459)
Interest received	650,723	414,618
Interest paid	(583,849)	(1,091,800)
CASH USED IN OPERATING ACTIVITIES	(27,917,058)	(44,261,641)
INVESTING ACTIVITIES
Purchase of short-term investments	(7,789,921)
Proceeds from maturing short-term investments	7,789,921	72,545,714
Investment in associate	(9,807,500)
Advances made to associate	(528,442)
Advances repaid by associate	3,565,566
Payment of financial guarantees	(589,777)
Acquisition of property, plant and equipment	(231,841)	(2,980,377)
Development of intangible assets	(14,264)	(222,165)
Refundable security deposit paid for right-of-use assets		(422,353)
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	(7,606,258)	68,920,819
FINANCING ACTIVITIES
Proceeds on issuance of common shares	67,665	404,375
Proceeds from exercise of stock options	17,830	294,263
Proceeds from exercise of warrants		337,771
Repayment of principal of lease obligations	(896,420)	(917,786)
Loan received		20,000
CASH USED IN FINANCING ACTIVITIES	(810,925)	(265,752)
Net change in cash during the year	(36,334,241)	24,393,426
Effect of exchange rate on changes in cash	(445,560)	250,613
Cash, beginning of the period	64,496,653	39,852,614
CASH, END OF FISCAL YEAR	27,716,852	64,496,653
Represented by:
Cash and cash equivalents	27,200,097	63,720,102
Restricted cash	516,755	776,551
Composed of:
Cash	4,148,152	5,698,105
Cash equivalents	$ 23,568,700	$ 58,798,548

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - CAD ($)	Mar. 31, 2023	Mar. 31, 2022
CURRENT
Cash and cash equivalents	$ 27,200,097	$ 63,720,102
Restricted cash	516,755	776,551
Accounts receivable	539,927	1,228,745
Other assets	1,427,536	3,451,901
TOTAL CURRENT ASSETS	29,684,315	69,177,299
NON-CURRENT
Property, plant and equipment		4,462,175
Intangible assets		483,354
Right-of-use assets		27,285,334
Other non-current assets	55,990	728,207
TOTAL NON-CURRENT ASSETS	55,990	32,959,070
TOTAL ASSETS	29,740,305	102,136,369
CURRENT
Accounts payable and accrued liabilities	5,076,982	5,846,672
Financial guarantees	3,367,910
Deferred revenue		278,717
Current portion of lease obligations		2,306,823
TOTAL CURRENT LIABILITIES	8,444,892	8,432,212
NON-CURRENT
Loan payable		31,163
Lease obligations		26,714,233
TOTAL NON-CURRENT LIABILITIES		26,745,396
TOTAL LIABILITIES	8,444,892	35,177,608
EQUITY
Share capital	107,273,342	132,111,283
Warrant reserve		6,196,906
Share-based payment reserve	5,454,655	8,409,758
Accumulated other comprehensive income	50,525	683,647
Deficit	(91,483,109)	(80,442,833)
TOTAL EQUITY	21,295,413	66,958,761
TOTAL LIABILITIES AND EQUITY	$ 29,740,305	$ 102,136,369