Minehub Technologies Inc Presentation Update - 2025-05-29 - Significant Financial and...

This comprehensive update to Minehub Technologies Inc.'s MD&A reflects substantial changes across multiple pages, emphasizing new financial statements, share and warrant activity, and detailed disclosures on assets, liabilities, and funding. The revisions include extensive resource revaluation, capital structure adjustments, and strategic partnership developments, providing investors with a clearer picture of the company's current financial position and future outlook.

Page-by-Page Changes:

Page 1: The initial page was removed entirely, eliminating the previous overview and introductory commentary, indicating a significant overhaul of the front-end presentation.

Page 2: This page was also removed, removing the earlier company overview that detailed incorporation, listing status, core business model, employee base, and recent asset acquisition of Waybridge Technologies. The prior operational and strategic context has been replaced or consolidated elsewhere.

Page 3: The content was replaced with detailed disclosures on share issuance and capital structure. Specifically, the issuance of approximately 18.9 million new common shares from 68.1 million in 2024 to 87.05 million in 2025 is highlighted, including a 2-for-1 share consolidation executed on March 1, 2024. The update elaborates on a complex series of share exchanges and warrants issued, notably a multi-tranche issuance to Abaxx totaling over 18.6 million shares and associated warrants, with precise valuation and issuance costs detailed. The total potential fully diluted share count exceeds 114 million, reflecting substantial equity dilution and strategic partnerships affecting ownership structure.

Page 4: Removed content related to operational updates, including customer onboarding and pilot programs, indicating these operational highlights are now either summarized elsewhere or have been deprioritized in this presentation.

Page 5: The page was eliminated, removing detailed discussions on new platform features, product development milestones, and strategic partnerships, such as Abaxx integration and corporate appointments, signaling a shift toward a more condensed or updated presentation format.

Page 6: Similar to previous, this page was removed, removing detailed financial results and operational metrics, including quarterly and year-to-date revenues, gross margins, and expense comparisons, suggesting these financial summaries are now consolidated into new financial statements or summarized elsewhere in the documentation.

Page 7: Also removed, eliminating prior detailed analysis of operational expenses, net losses, and adjusted EBITDA for recent quarters. This indicates a move toward presenting financial performance through the newly added consolidated financial statements.

Page 8: No significant change; content remains consistent, implying stable presentation of operational results for the recent quarter.

Page 9: Removed content related to operational and financial performance, indicating these detailed results are now incorporated into the new formal financial statements.

Page N/A to 1: A new comprehensive financial statement page was added, titled "Consolidated Financial Statements for the Years Ended January 31, 2025 and 2024." This page presents the company's assets, liabilities, and shareholders’ equity, including detailed notes on assets valuation, goodwill, and capital structure, offering a more formal and audited financial overview.

Page N/A to 2: An auditor’s report was introduced, providing a professional opinion affirming the fair presentation of the company's financial position in accordance with IFRS, with emphasis on the material uncertainty regarding the company's ability to continue as a going concern, a critical disclosure for investors.

Page N/A to 3: The "Other Information" section was added, outlining management’s responsibilities and the auditor’s scope, affirming the integrity and compliance of financial disclosure.

Page N/A to 4: The "Consolidated Statements of Financial Position" replaced previous unaudited MD&A summaries, offering detailed balances as of January 31, 2025, including assets, liabilities, and shareholders' equity, with notes on asset valuation and impairment assessments.

Page N/A to 5: The "Consolidated Statements of Comprehensive Loss" was introduced, reporting net losses of over $6.2 million for both 2025 and 2024, with detailed breakdowns of revenue, cost of sales, gross margin, and operating expenses, reflecting a more rigorous, audited financial reporting approach.

Page N/A to 6: The "Consolidated Statements of Changes in Shareholders’ Equity" was added, detailing movements including share issuance, warrants, stock options, and reserves, highlighting the impact of recent equity transactions and valuation adjustments, with total issued shares increased to 87.05 million.

Page N/A to 7: The "Consolidated Statements of Cash Flows" was incorporated, showing significant cash flows from operating, investing, and financing activities, notably cash used for operations of over $6.5 million in the six months ending July 31, 2024, and proceeds from share issuances and asset acquisitions, providing transparent liquidity movement data.

Page N/A to 8: The notes to the financial statements include comprehensive accounting policies, including fair value measurement, impairment testing, and specifics on goodwill valuation, now aligned with IFRS standards, replacing prior MD&A narrative.

Page N/A to 9: Additional detailed disclosures about income taxes, deferred tax assets, and risk management were added, emphasizing the assessment of tax loss carryforwards, impairment considerations, and currency risk exposure, with explicit sensitivity analyses on foreign exchange fluctuations.

Page N/A to 10 and beyond: Sequential pages with detailed notes on assets, liabilities, share capital, warrants, options, and related-party