| Balance Sheets | 2025-09-30 | 2025-06-30 | ||
|---|---|---|---|---|
| Cash | 128,869 | 206,579 | ||
| Accounts receivable, net of allowance for credit losses of 280,000 and 247,653 as of september 30, 2025 and december 31, 2024, respectively | 2,574,783 | 2,319,901 | ||
| Inventories, net | 5,997,898 | 7,001,994 | ||
| Prepaid expenses and other current assets | 769,073 | 402,200 | ||
| Total current assets | 9,470,623 | 9,930,674 | ||
| Property, plant and equipment, net | 44,325,607 | 44,778,821 | ||
| Intangible assets | 383,710 | 351,009 | ||
| Right - of-use asset, net | 30,615 | 42,090 | ||
| Goodwill | 1,917,356 | 1,917,356 | ||
| Other non-current assets | 169,685 | 254,685 | ||
| Total assets | 56,297,596 | 57,274,635 | ||
| Convertible notes payable, current portion | - | 0 | ||
| Accounts payable and accrued expenses | 14,030,501 | 13,990,784 | ||
| Due to related parties-Related Party | 19,134,580 | 18,854,580 | ||
| Line of credit, current portion | 10,149,641 | 0 | ||
| Notes payable, current portion, net of capitalized loan costs | 20,166,932 | 5,956,085 | ||
| Operating lease payable, current portion | 31,710 | 44,008 | ||
| Finance leases payable, current portion | 606,031 | 578,082 | ||
| Total current liabilities | 64,119,395 | 39,423,539 | ||
| Due to related parties, net of current portion-Related Party | - | 0 | ||
| Operating lease payable, net of current portion | - | 0 | ||
| Notes payable, net of current portion | - | 14,132,682 | ||
| Line of credit | - | 7,600,000 | ||
| Convertible notes payable, net of current portion | 3,000,000 | 3,000,000 | ||
| Finance leases payable, net of current portion | 666,856 | 829,247 | ||
| Deferred tax liability | 1,459,923 | 1,459,923 | ||
| Common shares, no par value | - | 0 | ||
| Total liabilities | 69,246,174 | 66,445,391 | ||
| Additional paid-in capital | 90,412,531 | 90,409,532 | ||
| Accumulated deficit | -103,361,109 | -99,580,288 | ||
| Total shareholders (deficit) | -12,948,578 | -9,170,756 | ||
| Total liabilities and shareholders (deficit) | 56,297,596 | 57,274,635 | ||
Borealis Foods Inc. (BRLS)
Borealis Foods Inc. (BRLS)