$AKAN

AKANDA CORP.

CIK:0001888014|SEC Filings

Consolidated Statements of Loss and Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Profit or loss [abstract]
Sales	$ 258,075
Cost of sales	414,098
Gross Profit (Loss)	(156,023)
Operating expenses
Depreciation and amortization	433,693	137,271
Consulting and professional fees	1,463,786	2,377,926
Personnel expenses	624,710	495,699
General and administrative expenses	2,305,195	1,019,287
Total operating expenses	4,827,384	4,030,183
Operating loss	(4,983,407)	(4,030,183)
Other income (expenses):
Finance income		2,953
Finance expense	(925,092)	(81,083)
Foreign exchange gain (loss), net	273,606	(132,842)
Transaction costs	(350,000)
Change in fair value of financial liabilities measured at FVTPL	1,750,820
Gain (loss) on debt settlement	1,914,956	(219,719)
Other income		74,455
Gain on sale of subsidiary		198,780
Write-off of AP, net		475,816
Write-off of holdback payable		400,000
Write-off of loan receivable	(235,686)
Impairment loss	(44,812,112)
Total Other income	(42,383,508)	718,360
Net loss from continuing operations	(47,366,915)	(3,311,823)
Gain (loss) from discontinued operation	507,604	(784,206)
Net loss	(46,859,311)	(4,096,029)
Translation adjustment	(175,651)	(101,188)
Comprehensive loss	(47,034,962)	(4,197,217)
Net loss attributable to:
Shareholders of the Company	(45,653,948)	(4,096,029)
Non-controlling interest	(1,205,363)
Net loss attributable	(46,859,311)	(4,096,029)
Net comprehensive loss attributable to:
Shareholders of the Company	(46,242,254)	(4,197,217)
Non-controlling interest	(792,708)
Net comprehensive loss attributable	$ (47,034,962)	$ (4,197,217)
Loss per share from continuing operations – basic (in Dollars per share)	$ (669.58)	$ (223.48)
Loss per share from continuing operations – diluted (in Dollars per share)	(669.58)	(223.48)
Loss per share – basic (in Dollars per share)	(662.22)	(276.4)
Loss per share – diluted (in Dollars per share)	$ (662.22)	$ (276.4)
Weighted average common shares outstanding (in Shares)	68,941	14,819

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Cash flows from operating activities:
Net loss from continuing operations	$ (47,366,915)	$ (3,311,823)
Net gain (loss) from discontinued operations	507,604	(784,206)
Net loss for the year	(46,859,311)	(4,096,029)
Adjustments for non-cash items:
Gain on loss of control of Canmart, net of cash surrendered and foreign currency translation adjustment	(12,999)
Depreciation and amortization	433,693	137,271
Depreciation and amortization from discontinued operations	926	265,284
Interest expenses and accretion	925,092	81,083
Interest expenses from discontinued operations		143,229
Interest income from Bridge loans		(6,446)
Fair value of RSUs granted and exercised		1,547,703
Gain on settlement on debt	(1,914,956)	(27,554)
Gain on sale of subsidiary		(198,780)
Write-off of AP, net		(475,816)
Write-off of holdback payable		(400,000)
Write-off of loan receivable	235,686
Foreign exchange gain, net	(273,606)
Impairment loss	44,812,112
Change in fair value of financial liabilities at FVTPL	(1,750,820)
Working capital adjustments (net of amounts acquired/disposed):
Trade and other receivables	68,459	(254,676)
Prepayments	(1,344,237)	(285,588)
Inventory		366,215
Trade and other payables	(1,209,862)	(733,363)
Due to related parties	160,775	(42,898)
Cash flows used in operating activities	(6,729,048)	(3,980,365)
Cash flows from investing activities:
Additions to property, plant and equipment	(1,234,056)	(2,098,138)
Cash surrendered on sale of RPK		(105,175)
Net cash proceeds from sale of subsidiary		1,553,750
Loan repayment (receivable)	347	(16,602)
Cash lent for Bridge loan		(350,000)
Cash surrendered on loss of control of Canmart	(174)
Acquisition of First Towers, net of cash acquired and unpaid note consideration	(6,218,004)
Cash flows used in investing activities	(7,451,887)	(1,016,165)
Cash flows from financing activities:
Proceeds from private placement, net of costs	275,929	10,754,944
Proceeds from issuance of convertible promissory notes	12,000,000
Advances from (to) related parties	(220,030)	44,954
Repayment of advances from related parties	(62,596)	(1,470,826)
Loans received		65,282
Loans repaid	(201,206)	(104,920)
Lease payments	(113,782)	(300,000)
Cash flows provided by financing activities	11,678,315	8,989,434
Net increase (decrease) in cash and cash equivalents	(2,502,620)	3,992,904
Effects of exchange rate changes on cash and cash equivalents	(835,110)	(244,913)
Cash and cash equivalents at the beginning of the year	3,841,866	93,875
Cash and cash equivalents at the end of the year	$ 504,136	$ 3,841,866

Consolidated Statements of Financial Position - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Current
Cash	$ 503,562	$ 3,838,650
Cash held in trust	574	3,216
Trade and other receivables	1,399,977	370,537
Prepayments	1,698,022	391,649
Loans receivable		451,529
Total Current Assets	3,602,135	5,055,581
Non-Current
Property, plant and equipment	2,365,831	2,339,182
Intangible assets and goodwill		15,827
Loan receivable		503,493
Right-of-use assets	227,589
Total Non-Current Assets	2,593,420	2,858,502
Total Assets	6,195,555	7,914,083
Current
Trade and other payables	3,309,037	2,982,499
Lease liability	187,442
Loans and borrowings	1,006,920	352,814
Convertible promissory notes	1,055,420
Due to related parties	640,546	302,232
Total Current Liabilities	6,199,365	3,637,545
Non-Current
Lease liability	208,679
Secured promissory notes	7,633,966
Secured convertible debenture	4,143,982
Total Non-Current Liabilities	11,986,627
Total Liabilities	18,185,992	3,637,545
Shareholders’ Equity (Deficit)
Common shares	73,555,097	63,319,398
Other reserves	3,370	24,423
Accumulated deficit	(103,091,953)	(57,459,061)
Accumulated other comprehensive loss	(2,304,665)	(1,608,222)
Non-controlling interest	(1,205,363)
Total Shareholders’ Equity (Deficit)	(11,990,437)	4,276,538
Total Liabilities and Shareholders’ Equity (Deficit)	6,195,555	7,914,083
Class A special shares
Shareholders’ Equity (Deficit)
Common shares	597,836
Class B special shares
Shareholders’ Equity (Deficit)
Common shares	$ 20,455,241