BlockMint Technologies Inc. — Interim / Quarterly Report 2025

Aug 30, 2025

BLOCKMINT

BLOCKMINT TECHNOLOGIES INC.

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

THREE AND SIX MONTHS ENDED

JUNE 30, 2025

(EXPRESSED IN UNITED STATES DOLLARS)

(UNAUDITED)

Notice To Reader

The accompanying unaudited condensed consolidated interim financial statements of BlockMint Technologies Inc. have been prepared by and are the responsibility of management. The unaudited condensed consolidated interim financial statements have not been reviewed by the Company's auditors.

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BlockMint Technologies Inc.
Condensed Interim Consolidated Statements of Financial Position
(Expressed in United States Dollars)
Unaudited

	As at June 30, 2025	As at December 31, 2024
ASSETS
Current assets
Cash	$ 1,222,373	$ 1,324,003
Receivables	7,818	4,907
Prepaid expenses	12,467	12,467
Digital currency (note 3)	371,216	323,725
Total assets	$ 1,613,874	$ 1,665,102
LIABILITIES AND EQUITY
Current liabilities
Accounts payable and accrued liabilities (note 6)	$ 37,975	$ 40,213
Total liabilities	37,975	40,213
Equity
Share capital (note 4)	9,661,389	9,661,389
Share-based payment reserve (note 5)	385,400	385,400
Digital currency revaluation reserve (note 3)	(43,809)	155,085
Foreign currency translation reserve	(28,402)	(11,446)
Deficit	(8,398,679)	(8,565,539)
Total equity	1,575,899	1,624,889
Total equity and liabilities	$ 1,613,874	$ 1,665,102

Nature of operations and going concern (note 1)

The accompanying notes to the unaudited condensed consolidated interim financial statements are an integral part of these statements.

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BlockMint Technologies Inc.
Condensed Interim Consolidated Statements of Income (loss) and Comprehensive (loss) Income
(Expressed in United States Dollars)
Unaudited

	Three Months Ended June 30, 2025	Three Months Ended June 30, 2024	Six Months Ended June 30, 2025	Six Months Ended June 30, 2024
Operating expenses
Business development and promotion	$ -	$ -	$ 4,232	$ 4,495
Consulting (note 6)	14,862	14,136	31,474	31,342
Director, management fees and salaries (note 6)	14,620	14,620	29,241	29,242
Office and miscellaneous	5,839	4,848	11,427	10,749
Professional fees (note 6)	17,292	6,215	33,640	12,003
Salaries and wages	1,712	1,104	3,267	1,615
Total operating expenses	54,325	40,923	113,281	89,446
Loss before other items	(54,325)	(40,923)	(113,281)	(89,446)
Foreign exchange gain (loss)	10,586	(411)	16,785	(7,200)
Revaluation of digital currency (note 3)	85,190	(30,320)	263,356	71,508
Net income (loss) for the period	41,451	(71,654)	166,860	(25,138)
Other comprehensive (loss) income
Items which may be reclassified to profit or loss:
Loss on currency translation	-	-	(16,956)	-
Items that will not be reclassified subsequently to profit or loss:
Gain on digital currency revaluation (net of tax)	(144,422)	-	(198,894)	-
Other comprehensive (loss) income for the period	(144,422)	-	(215,850)	-
Total comprehensive (loss) income for the period$	(102,971)	$ (71,654)	$ (48,990)	$ (25,138)
Basic and diluted net (loss) income per share
- continuing operations	$ 0.00	$ (0.00)	$ (0.00)	$ (0.00)
- discontinuing operations	$ 0.00	$ -	$ 0.00	$ (0.00)
Basic and diluted net (loss) income per share (note 7)	$ 0.00	$ (0.00)	$ 0.00	$ (0.00)
Weighted average number of common shares outstanding	48,242,605	48,242,605	48,242,605	48,242,605

The accompanying notes to the unaudited condensed consolidated interim financial statements are an integral part of these statements.

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BlockMint Technologies Inc.
Condensed Interim Consolidated Statements of Cash Flows
(Expressed in United States Dollars)
Unaudited

	Six Months Ended June 30, 2025	Six Months Ended June 30, 2024
Operating activities
Net income (loss) for the period	$ 166,860	$ (25,138)
Adjustments for:
Revaluation of digital currency	(263,356)	(71,508)
Changes in non-cash working capital items:
Receivables	(2,911)	(2,683)
Accounts payable and accrued liabilities	(2,223)	(14,029)
Net cash used in operating activities	(101,630)	(113,358)
Net change in cash	(101,630)	(113,358)
Cash, beginning of period	1,324,003	1,532,827
Cash, end of period	$ 1,222,373	$ 1,419,469

The accompanying notes to the unaudited condensed consolidated interim financial statements are an integral part of these statements.

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BlockMint Technologies Inc.
Condensed Interim Consolidated Statements of Changes in Equity
(Expressed in United States Dollars)
Unaudited

	Share capital	Share-based payment reserve	Digital currency revaluation reserve	Foreign currency translation reserve	Deficit	Total
Balance, December 31, 2023	$ 9,661,389	$ 385,400	$ -	$ 13,495	$(8,408,305)	$ 1,651,979
Net and comprehensive loss for the period	-	-	-	-	(25,138)	(25,138)
Balance, June 30, 2024	$ 9,661,389	$ 385,400	$ -	$ 13,495	$(8,433,443)	$ 1,626,841
Balance, December 31, 2024	9,661,389	385,400	155,085	(11,446)	(8,565,539)	1,624,889
Digital currency revaluation	-	-	(198,894)	-	-	(198,894)
Currency translation	-	-	-	(16,956)	-	(16,956)
Net and comprehensive income for the period	-	-	-	-	166,860	166,860
Balance, June 30, 2025	$ 9,661,389	$ 385,400	$ (43,809)	$ (28,402)	$(8,398,679)	$ 1,575,899

The accompanying notes to the unaudited condensed consolidated interim financial statements are an integral part of these statements.

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BlockMint Technologies Inc.
Notes to the Condensed Interim Consolidated Financial Statements
Three and Six Months Ended June 30, 2025
(Expressed in United States Dollars)
Unaudited

1. Nature of operations and going concern

BlockMint Technologies Inc. (the "Company") is a publicly traded company whose shares are listed on the TSX Venture Exchange (the "TSX-V") under the trading symbol BKMT. BlockMint (Canada) Technologies Inc. ("BlockMint-Canada"), a wholly owned subsidiary of the Company, was incorporated on December 22, 2017 pursuant to the British Columbia Business Corporations Act. BlockMint-Canada and its subsidiary, BlockMint (USA) Technologies Inc. ("BlockMint-USA"), are in the business of developing distributed systems and networks that enable a more decentralized deployment of blockchain based applications. BlockMint-USA was incorporated under the laws of the State of Delaware on March 6, 2018.

In September 2022, the Company discontinued its cryptocurrency mining operation in Washington State and launched a new website, carbontokensmarket.com, which aims to be a single source of price and market information on the carbon tokens market (the "Website").

The Company's registered office address and principal place of business is located at Suite 2900, 733 Seymour Street, Vancouver, British Columbia, V6B 0S6.

Going concern

The Company incurred a net income for the six months ended June 30, 2025 of $166,860 (six months ended June 30, 2024 - net loss of $25,138) and had an accumulated deficit of $8,398,679 at June 30, 2025 (December 31, 2024 - $8,565,539). These conditions indicate a material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern. As at June 30, 2025, the Company had working capital of $1,575,899 (December 31, 2024 - $1,624,889).

These unaudited condensed consolidated interim financial statements have been prepared on a going concern basis, which presumes realization of assets and discharge of liabilities in the normal course of business for the foreseeable future. Accordingly they do not give effect to adjustments that would be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and discharge its liabilities in other than the normal course of business and at amounts different from those presented in these unaudited condensed consolidated interim financial statements.

The Company applies International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB") and interpretations issued by the International Financial Reporting Interpretations Committee ("IFRIC"). These unaudited condensed consolidated interim financial statements have been prepared in accordance with International Accounting Standard 34, Interim Financial Reporting. Accordingly, they do not include all of the information required for full annual financial statements required by IFRS as issued by IASB and interpretations issued by IFRIC.

The policies applied in these unaudited condensed consolidated interim financial statements are based on IFRS's issued and outstanding as of August 29, 2025, the date the Board of Directors approved the statements. Except as disclosed in note 2, the same accounting policies and methods of computation are followed in these unaudited condensed consolidated interim financial statements as compared with the most recent annual financial statements as at and for the year ended December 31, 2024. Any subsequent changes to IFRS that are given effect in the Company's annual financial statements for the period ending December 31, 2025 could result in restatement of these unaudited condensed consolidated interim financial statements.

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BlockMint Technologies Inc.
Notes to the Condensed Interim Consolidated Financial Statements
Three and Six Months Ended June 30, 2025
(Expressed in United States Dollars)
Unaudited

2. Material accounting policy information

Changes in accounting policies

The Company adopted the following amendment to IFRS Accounting Standards that are mandatorily effective for accounting periods beginning on or after January 1, 2024. Their adoption has not had a material impact on disclosures or amounts reported in these consolidated financial statements.

Amendments to IAS 1 - Presentation of Financial Statements

In October 2022, the IASB issued amendments to IAS 1, Presentation of Financial Statements titled non-current liabilities with covenants. These amendments sought to improve the information that an entity provides when its right to defer settlement of a liability is subject to compliance with covenants within 12 months after the reporting period. These amendments to IAS 1 override but incorporate the previous amendments, Classification of liabilities as current or noncurrent, issued in January 2020, which clarified that liabilities are classified as either current or non-current depending on the rights that exist at the end of the reporting period. Liabilities should be classified as non-current if an entity has a substantive right to defer settlement for at least 12 months at the end of the reporting period.

New standards not yet adopted and interpretations issued but not yet effective

The Company has not yet adopted certain new standards, amendments and interpretations to existing standards as outlined below, which have been published but are only effective for accounting periods beginning on or after January 1, 2025 or later periods. The Company is currently assessing the impact that the adoption of these standards will have on its consolidated financial statements.

IFRS 9 Financial Instruments ("IFRS 9") and IFRS 7, Financial Instruments: Disclosures ("IFRS 7")

IFRS 9 requires entities to recognize financial assets and liabilities when they become party to the contractual terms and to measure them initially at fair value, adjusted for directly attributable transaction costs where applicable. The standard is being clarified to provide better guidance on the derecognition of financial liabilities, which can impact bank reconciliation processes, especially during debt restructuring based on the timing of payments on financial liabilities as compared to the actual settlement of those debts. This clarification may result in a change in the derecognition timing of financial liabilities in situations where electronic payments are involved. These amendments are effective for annual periods beginning on or after January 1, 2026 with earlier adoption permitted.

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BlockMint Technologies Inc.
Notes to the Condensed Interim Consolidated Financial Statements
Three and Six Months Ended June 30, 2025
(Expressed in United States Dollars)
Unaudited

2. Material Accounting Policy In (continued)

Changes in accounting policies (continued)

New standards not yet adopted and interpretations issued but not yet effective (continued)

IFRS 18 Presentation and Disclosure in Financial Statements

In April 2024, the IASB issued IFRS 18 Presentation and Disclosure in Financial Statements. This standard aims to improve the consistency and clarity of financial statement presentation and disclosures by providing updated guidance on the structure and content of financial statements. Key changes include enhanced requirements for the presentation of financial performance, financial position, and cash flows, as well as additional disclosures to improve transparency and comparability. In addition, IFRS 18 requires entities to classify income and expenses into five categories, three of which are new – i.e. operating, investing and financing – and the income tax and discontinued operation categories. The new standard sets out detailed requirements for classifying income and expenses into each category. These amendments are effective for annual periods beginning on or after January 1, 2027 with earlier adoption permitted. IFRS 18 requires retroactive application with certain transition provisions.

3. Digital currency

Digital currency is measured at fair value using the quoted price on www.coinmarketcap.com ("Coinmarketcap"). Management considers this fair value to be a Level 2 input under the IFRS 13 Fair Value Measurement fair value hierarchy as the price on this source represents an average of quoted prices on multiple digital currency exchanges. The Company is relying on the data available at Coinmarketcap to be an accurate representation of the closing price for the digital currency.

The Company's holdings of digital currencies consist of the following:

	As at June 30, 2025	As at December 31, 2024
Bitcoin	$ 371,216	$ 323,725

The continuity of digital currencies was as follows:

	Number of Bitcoin (i)	Total
Balance, December 31, 2023,	4	$ 148,058
Revaluation adjustment		175,667
Balance, December 31, 2024	4	323,725
Revaluation adjustment		47,491
Balance, June 30, 2025	4	$ 371,216

(i) The number of Bitcoin that the Company holds is rounded to the nearest whole number.

Digital currencies are recorded at their fair value on the date that they were received as revenues and are revalued to their current market value at each reporting date based on the closing price obtained from Coinmarketcap. As at June 30, 2025, the price of Bitcoin was $107,135 (December 31, 2024 - $63,330), resulting in total revaluation income of the Company's digital currency of $47,491 with $263,356 recognized in net income and loss of $215,850 recognized in other comprehensive (loss) income impact.

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BlockMint Technologies Inc.
Notes to the Condensed Interim Consolidated Financial Statements
Three and Six Months Ended June 30, 2025
(Expressed in United States Dollars)
Unaudited

4. Share capital

a) Authorized share capital

The Company is authorized to issue an unlimited number of common shares with no par value. The holders of common shares are entitled to receive dividends which may be declared from time to time, and are entitled to one vote per share at meetings of the Company. All shares are ranked equally with regards to the Company's residual assets.

b) Common shares issued

	Number of common shares	Amount
Balance, December 31, 2024, and June 30, 2025	48,242,605	$ 9,661,389

5. Share-based payments

In February 2019, the Directors adopted a 20% fixed stock option plan (the "Plan"). Under the terms of the Plan, the Board may from time to time, in its discretion, and in accordance with TSXV requirements, grant to the Company's directors, officers, employees and consultants, non-transferable options to purchase common shares of the Company, provided that the number of shares reserved for issuance will not exceed 8,853,814 common shares. Options granted under the Plan have a term up to 10 years. No option shall be exercisable until it has vested. Vesting will be specified at the time of grant.

	Number of stock options	Per option value
Balance, December 31, 2024, and June 30, 2025	1,250,000	$ 0.29

The following table reflects the actual stock options issued and outstanding as of June 30, 2025:

Expiry date	Exercise price	Weighted average remaining contractual life (years)	Number of options outstanding	Number of options vested (exercisable)
February 11, 2026	CDN$0.40	0.62	1,250,000	1,250,000

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BlockMint Technologies Inc.
Notes to the Condensed Interim Consolidated Financial Statements
Three and Six Months Ended June 30, 2025
(Expressed in United States Dollars)
Unaudited

6. Related party transactions

Related parties include key management personnel and others considered to have significant influence or control over the Company's operations. Key management personnel includes the Board of Directors of the Company, officers, and close family members and enterprises which are controlled by these individuals, as well as certain persons performing similar functions.

(a) The Company entered into the following transactions with related parties:

		Three Months Ended June 30,		Six Months Ended June 30,
		2025	2024	2025	2024
Owen Bird Law Corporation	(i)	$ 3,313	$ 2,734	$ 3,736	$ 3,022
Bayswater Consulting Ltd.	(ii)	2,183	2,247	4,262	4,468
Marrelli Support Services Inc.	(iii)	6,801	9,231	13,247	21,127

(i) For the three and six months ended June 30, 2025, the Company expensed professional fees of $3,313 and $3,736, respectively (three and six months ended June 30, 2024 - $2,734 and $3,022, respectively), to Owen Bird Law Corporation, a legal firm of which a director is a shareholder. As at June 30, 2025, $1,060 (December 31, 2024 - $1,060) was payable to this party and the amount is included in accounts payable and accrued liabilities.

(ii) For the three and six months ended June 30, 2025, the Company expensed consulting fees of $2,183 and $4,262, respectively (three and six months ended June 30, 2024 - $2,247 and $4,468, respectively) to a private company controlled by the Company's corporate secretary, for corporate services.

(iii) For the three and six months ended June 30, 2025, the Company expensed consulting fees of $6,801 and $13,247, respectively (three and six months ended June 30, 2024 - $9,231 and $21,127, respectively) to Marrelli Support Services Inc. ("Marrelli") to act as the Chief Financial Officer of the Company and for bookkeeping services. These services were incurred for general accounting and financial reporting matters. As at June 30, 2025, Marrelli was owed $973 (December 31, 2024 - $973), and the amount is included in accounts payable and accrued liabilities.

(b) Remuneration of key management personnel, which includes the directors and officers of the Company, other than professional and consulting fees, was as follows:

	Three Months Ended June 30,		Six Months Ended June 30,
	2025	2024	2025	2024
Management salaries	$ 6,000	$ 6,000	$ 12,000	$ 12,000
Directors fees (included in Directors, management fees and salaries)	8,622	8,622	17,244	17,244
	$ 14,622	$ 14,622	$ 29,244	$ 29,244

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BlockMint Technologies Inc.
Notes to the Condensed Interim Consolidated Financial Statements
Three and Six Months Ended June 30, 2025
(Expressed in United States Dollars)
Unaudited

7. Earnings (Loss) per share

The calculation of basic and diluted (loss) income per share from continuing operations for the three and six months ended June 30, 2025, was based on the income attributable to common shareholders of $41,451 and $166,860, respectively (three and six months ended June 30, 2024 - loss of $71,654 and $25,138, respectively) and the weighted average number of common shares outstanding of 48,242,605 and 48,242,605, respectively (three and six months ended June 30, 2024 - 48,242,605 and 48,242,605, respectively). Diluted net income (loss) per share did not include the effect of 1,250,000 options outstanding for the three and six months ended June 30, 2025 (three and six months ended June 30, 2024 - options of 1,250,000) as their effect is anti-dilutive. Diluted net income (loss) from discontinued operations per share did not include the effect of 1,250,000 options outstanding, as the exercise price of the options was above the average share price.

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