Armada Data Corporation — Financial Supplement Data 2022

Jan 28, 2022

ARMADA DATA CORPORATION SCHEDULE “B” – SUPPLEMENTARY INFORMATION FOR THE THREE MONTH PERIOD ENDED NOVEMBER 30, 2021

List of Directors and Officers

R. James Matthews – Director, CEO and President

Elizabeth Matthews – CFO

Eli Oszlak – Director, Vice President Rob Montemarano – Director, Audit Committee Member Fred Marotta – Director Gregory Harris – Director, Audit Committee Member Glenn Hrabovsky – Director, Chairman, Audit Committee

RELATED PARTY TRANSACTIONS

The following transactions with related parties were in the normal course of operations:

• a) The Company recognized IT revenue of $ 3,021 (November 30, 2020 $6,333) from a company and individual significantly influenced by one of the Company’s directors. As at November 30, 2021, there was an account receivable of $1,066 (November 30, 2020 $ 26,054) due from this related company and accounts receivable of $69 (November 30, 2020 $269) due from other related parties.

• b) The following compensation was paid to key management, which comprises the Chief Executive Officer, Chief Financial Officer and Chief Technical Officer, during the current and prior years periods:

	November 30, 2021	November 30, 2020
Management salaries	$ 72,692	$ 73,846
Automobile and travel allowances	3,877	3,877
Director Fees	4,000	-
	$ 80,569	$ 77,723

• c) Professional fees of $10,200 (November 30, 2020 $5,400) were recognized for services provided by a law firm in which a director of the Company is a partner.

• d) During the period ended November 30, 2021, the Company incurred advertising and computer consulting expenses of $5,640 (November 30, 2020 $8,335) with an entity controlled by a spouse of an officer of the Company.

• e) Related parties accounts payable of $4,494 are due to parties related to directors of Armada Data Corporation (November 30, 2020 $23,108).