Cielo Waste Solutions (CMC) Q3 2025 earnings summary

Executive summary

• No revenue generated; net and comprehensive loss of $25,863 for the quarter and $41,575 for the nine months ended January 31, 2025, reflecting significant impairments and ongoing R&D expenses.

• Company remains pre-commercial, with a working capital deficit of $3,571 and accumulated losses of $162,910 as of January 31, 2025.

• Material uncertainty exists regarding the company's ability to continue as a going concern due to inability to settle debts or finance ongoing activities without additional capital.

Financial highlights

• Net loss for the quarter: $25,863 (vs. $1,945 same quarter last year); nine-month net loss: $41,575 (vs. $9,268 prior year).

• Major non-cash charges: $7,705 impairment of property, plant, and equipment and $25,002 impairment of intangible assets in the quarter.

• Cash and cash equivalents at January 31, 2025: $67, down from $376 at April 30, 2024.

• Share capital increased to $156,973 from $149,943 at April 30, 2024, mainly due to shares issued for debt settlement and technology acquisition.

Outlook and guidance

• Additional capital required to fund R&D, corporate activities, and short-term debt; ability to continue as a going concern depends on new financing and support from debtholders and investors.

• No revenue expected until commercial operations commence; focus remains on securing funding and advancing project development.