PEI Cannabis Annual Report 2025

PRINCE EDWARD ISLAND CANNABIS MANAGEMENT CORPORATION Statement of Profit or Loss Year Ended March 31, 2025

2025

2024

Revenues Sales

$ 26,419,622

$ 24,966,165

19,314,191

Cost of sales (Note 6)

18,117,146

7,105,431

Gross margin

6,849,019

Expenses Amortization of property and equipment (Schedule 1 and 2) Amortization of right-of-use assets (Schedule 1 and 2)

317,313 195,595 105,906 58,292 261,091 3,952 288,289 4,049,632 303,840 27,244 91,449

319,503 179,663 97,873 64,519 180,959

Insurance and property taxes (Note 11) Interest on lease liabilities (Note 9) Other operating expenses (Note 12) Repairs and maintenance Salaries and benefits (Notes 11, 13) Rent

810

295,408 3,537,495 221,252

Store and office supplies

Travel Utilities

16,822 86,458

5,702,603

5,000,762

Income from operations Other revenues (Note 14)

1,402,828 1,052,167

1,848,257 1,187,522

Net income

$ 2,454,995

$ 3,035,779

Notes 1 to 18 are an integral part of these financial statements 5

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PEICMC 2024-2025 Annual Report