InMed Pharmaceuticals(INM) - 2022 Q3 - Quarterly Report

PART I – FINANCIAL INFORMATION ITEM 1. CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS InMed Pharmaceuticals Inc. presents unaudited interim financial statements, detailing significant net losses and going concern doubt - The company has incurred recurring losses and negative cash flows from operations since its inception, with net losses of $10.7 million and $6.9 million for the nine months ended March 31, 2022 and 2021, respectively, and an accumulated deficit of $85.6 million as of March 31, 2022[20][176][192] - Management concluded there is substantial doubt about the company's ability to continue as a going concern within one year, as current cash is expected to fund operations only into the second quarter of fiscal 2023[21][180][195] Condensed Consolidated Interim Balance Sheets Balance sheets show increased assets and liabilities from June 2021 to March 2022, driven by the BayMedica acquisition Condensed Consolidated Interim Balance Sheet Highlights | Metric | March 31, 2022 ($) | June 30, 2021 ($) | |:---|:---|:---|\n| Total Assets | 15,485,797 | 9,781,216 | | Total Liabilities | 4,599,064 | 2,404,649 | | Total Shareholders' Equity | 10,886,733 | 7,376,567 | | Cash and cash equivalents | 5,898,313 | 7,363,126 | | Inventories | 1,420,382 | - | | In-process research and development | 1,249,000 | - | | Goodwill | 2,023,039 | - | Condensed Consolidated Interim Statements of Operations and Comprehensive Loss Statements of operations reflect the BayMedica acquisition, introducing sales and cost of sales, with net loss significantly increasing due to higher operating expenses Condensed Consolidated Interim Statements of Operations and Comprehensive Loss Highlights | Metric | Three Months Ended March 31, 2022 ($) | Three Months Ended March 31, 2021 ($) | Nine Months Ended March 31, 2022 ($) | Nine Months Ended March 31, 2021 ($) | |:---|:---|:---|:---|:---|\n| Sales | 309,585 | - | 574,677 | - | | Gross profit | 182,277 | - | 293,832 | - | | Research and development and patents | 1,753,545 | 1,772,593 | 5,781,867 | 3,621,697 | | General and administrative | 1,915,017 | 1,333,725 | 5,124,670 | 2,918,067 | | Total operating expenses | 3,721,902 | 3,133,739 | 11,038,206 | 6,631,982 | | Net loss for the period | (3,475,665) | (3,101,475) | (10,730,094) | (6,944,336) | | Basic and diluted loss per share | (0.25) | (0.41) | (0.81) | (1.11) | Condensed Consolidated Interim Statements of Shareholders' Equity Shareholders' equity increased from June 2021 to March 2022, driven by private placement proceeds and shares issued for the BayMedica acquisition, offset by net losses Shareholders' Equity Changes (Nine Months Ended March 31, 2022) | Item | Amount ($) | |:---|:---|\n| Balance June 30, 2021 | 7,376,567 | | Private placement (gross proceeds) | 11,999,686 | | Share issuance costs | (2,034,167) | | Acquisition of BayMedica (common shares) | 3,013,500 | | Loss for the period | (10,730,094) | | Share-based compensation | 521,006 | | Balance March 31, 2022 | 10,886,733 | Condensed Consolidated Interim Statements of Cash Flows Cash used in operating activities significantly increased, while investing activities provided cash due to the BayMedica acquisition, and financing activities provided less cash year-over-year Condensed Consolidated Interim Statements of Cash Flows Highlights | Activity | Nine Months Ended March 31, 2022 ($) | Nine Months Ended March 31, 2021 ($) | |:---|:---|:---|\n| Net cash used in operating activities | (11,536,511) | (7,784,554) | | Net cash provided by investing activities | 52,458 | - | | Net cash provided by financing activities | 10,019,240 | 10,937,898 | | Increase (decrease) in cash during the period | (1,464,813) | 3,648,304 | | Cash and cash equivalents end of the period | 5,898,313 | 9,454,113 | Notes to the Condensed Consolidated Interim Financial Statements These notes detail corporate structure, accounting policies, financial performance, and position, including going concern uncertainty and BayMedica acquisition impact 1. Corporate Information and Continuing Operations InMed Pharmaceuticals Inc. is a clinical-stage pharmaceutical company developing cannabinoid-based products, facing substantial doubt about its going concern ability - InMed Pharmaceuticals Inc. is a clinical stage pharmaceutical company developing prescription-based products (rare cannabinoids and novel cannabinoid analogs) and proprietary manufacturing technologies for the health and wellness industry[17] - The company has incurred recurring losses and negative cash flows from operations since inception, with an accumulated deficit of $85.6 million as of March 31, 2022[20] - Management concluded there is substantial doubt about the company's ability to continue as a going concern within one year, as current cash is expected to fund operations only into the second quarter of fiscal 2023[21] 2. Significant and New Accounting Policies Financial statements adhere to US GAAP, with key policies covering business combinations, inventory valuation, and revenue recognition for bulk rare cannabinoid sales - Unaudited condensed consolidated interim financial statements are prepared in accordance with US GAAP and SEC rules for interim financial information[25] - Business combinations are accounted for using the acquisition method, allocating fair value of consideration to acquired assets and assumed liabilities, with any excess recorded as goodwill[30] - Revenue from manufacturing and distribution sales of bulk rare cannabinoids is recognized when control is transferred to the customer, typically upon shipment and transfer of title/risk of loss[35] 3. Customer Concentration The company experienced significant customer concentration, with a few customers accounting for a large portion of sales and outstanding accounts receivable - Two customers generated 73% of net sales for the three months ended March 31, 2022[39] - Three customers generated 65% of net sales for the nine months ended March 31, 2022[39] - These concentrated customers represented 43% of the company's outstanding accounts receivable as of March 31, 2022[39] 4. Inventories Inventories, primarily work-in-process and finished goods, totaled $1,420,382 as of March 31, 2022, with no prior year balance due to the BayMedica acquisition Inventories Breakdown | Category | March 31, 2022 ($) | June 30, 2021 ($) | |:---|:---|:---|\n| Work in process | 1,138,566 | - | | Finished goods | 281,816 | - | | Total Inventories | 1,420,382 | - | - Inventory expensed to cost of goods sold was $127,308 for the three months and $280,845 for the nine months ended March 31, 2022[40] 5. Property and Equipment, Net Net property and equipment significantly increased to $1,002,846 as of March 31, 2022, largely due to the BayMedica acquisition Property and Equipment, Net | Category | March 31, 2022 ($) | June 30, 2021 ($) | |:---|:---|:---|\n| Right of Use Asset (leases) | 1,167,436 | 439,321 | | Equipment | 212,877 | 66,888 | | Leasehold Improvements | 40,409 | 42,986 | | Property and equipment, net | 1,002,846 | 326,595 | - Depreciation expense for property, equipment, and leasehold improvements was $7,908 (three months) and $18,371 (nine months) for 2022, and $89,450 (three months) and $199,058 (nine months) for Right-of-Use Assets[41] 6. Intangible Assets, IPR&D and Goodwill Intangible assets, IPR&D, and goodwill significantly increased due to the BayMedica acquisition, with IPR&D and goodwill recognized for the first time Intangible Assets, IPR&D, and Goodwill | Category | March 31, 2022 ($) | June 30, 2021 ($) | |:---|:---|:---|\n| Intellectual property | 1,736,420 | 1,736,420 | | Patents | 1,191,000 | - | | Trademark | 216,000 | - | | Intangible assets, net | 2,355,401 | 1,061,697 | | In-process research and development | 1,249,000 | - | | Goodwill | 2,023,039 | - | - Acquired IPR&D ($1,249,000) and Goodwill ($2,023,039) arose from the BayMedica acquisition and are classified as indefinite-lived assets, not subject to amortization[45][46] - Amortization expense on intangible assets for the three and nine months ended March 31, 2022, was $45,430 and $113,296, respectively[45] 7. Acquisition of BayMedica InMed acquired BayMedica on October 13, 2021, for $3,813,957, recognizing significant intangible assets and goodwill, with BayMedica contributing sales and operating losses since acquisition - InMed acquired 100% of BayMedica on October 13, 2021, for a total consideration of $3,813,957[47][48] - Consideration included 2,050,000 common shares ($3,013,500 fair value) and $1,000,000 cash (subject to post-closing adjustments)[47][48] Preliminary Fair Value of Assets Acquired and Liabilities Assumed (BayMedica Acquisition) | Category | Amount ($) | |:---|:---|\n| Cash and cash equivalents | 91,566 | | Inventories | 487,122 | | IPR&D | 1,249,000 | | Patents | 1,191,000 | | Trademark | 216,000 | | Goodwill | 2,023,039 | | Total assets acquired | 5,559,412 | | Total liabilities assumed | 1,745,455 | | Estimated fair value of net assets acquired | 3,813,957 | - From acquisition date to March 31, 2022, BayMedica contributed $0.6 million in sales and $1.8 million in operating losses[57] 8. Accounts Payable and Accrued Liabilities Accounts payable and accrued liabilities increased to $2,866,927 as of March 31, 2022, primarily due to higher trade payables and accrued research and development expenses Accounts Payable and Accrued Liabilities | Category | March 31, 2022 ($) | June 30, 2021 ($) | |:---|:---|:---|\n| Trade payables | 1,676,179 | 775,129 | | Accrued research and development expenses | 364,207 | 309,901 | | Employee compensation, benefits and related accruals | 711,421 | 880,207 | | Accrued general and administrative expenses | 115,120 | 169,641 | | Total | 2,866,927 | 2,134,878 | 9. Share Capital and Reserves During the nine months ended March 31, 2022, the company completed a private placement raising $12.0 million and issued common shares for the BayMedica acquisition, impacting outstanding shares - A private placement on July 2, 2021, generated $11,999,686 in gross proceeds from the issuance of 890,000 common shares and 3,146,327 pre-funded warrants[62] - 2,050,000 common shares were issued as part of the BayMedica acquisition[63] Share Purchase Warrants Activity (July 1, 2021 to March 31, 2022) | Activity | Number | Weighted Average Share Price ($) | |:---|:---|:---|\n| Balance as at June 30, 2021 | 2,473,000 | 3.80 | | Granted | 4,036,327 | 2.848 | | Exercised | (369,600) | 0.45 | | Balance as at March 31, 2022 | 6,139,727 | 3.38 | 10. Share-Based Payments The company's stock option plan had 420,165 options available for future allocation, with total share-based compensation expense of $521,006 for the nine months ended March 31, 2022 - 420,165 options were available for future allocation under the stock option plan as of March 31, 2022[72] Share-Based Compensation Expense | Period | Total Expense ($) | Allocated to G&A ($) | Allocated to R&D ($) | |:---|:---|:---|:---|\n| Three months ended March 31, 2022 | 195,085 | 103,401 | 91,684 | | Nine months ended March 31, 2022 | 521,006 | 307,885 | 213,121 | - Unrecognized compensation cost related to unvested options was $431,558 as of March 31, 2022, to be recognized over a weighted-average vesting period of 1.2 years[75] 11. Lease Obligations Lease obligations significantly increased due to the BayMedica acquisition, resulting in total undiscounted lease liabilities of $1,276,971 as of March 31, 2022 - The acquisition of BayMedica included an operating lease for a corporate office with a remaining term of 2.1 years[77] Lease Maturity Analysis (March 31, 2022) | Period | Amount ($) | |:---|:---|\n| Less than one year | 431,680 | | One to five years | 845,291 | | More than five years | - | | Total undiscounted lease liabilities | 1,276,971 | 12. Basic and Diluted Loss Per Share Basic and diluted loss per share was $(0.25) for the three months and $(0.81) for the nine months ended March 31, 2022, with an increased weighted average number of common shares outstanding Basic and Diluted Loss Per Share | Metric | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | Nine Months Ended March 31, 2022 | Nine Months Ended March 31, 2021 | |:---|:---|:---|:---|:---|\n| Net loss for the period ($) | (3,475,665) | (3,101,475) | (10,730,094) | (6,944,336) | | Basic and diluted loss per share ($) | (0.25) | (0.41) | (0.81) | (1.11) | | Weighted average common shares outstanding | 14,151,544 | 7,549,040 | 13,326,754 | 6,277,824 | 13. Segment Information Following the BayMedica acquisition, the company operates in two segments: InMed Pharmaceuticals (R&D) and BayMedica (manufacturing), with BayMedica generating all sales for the periods presented - The company has two reportable segments: InMed Pharmaceuticals (R&D of cannabinoid-based pharmaceuticals) and BayMedica (manufacturing technologies for rare cannabinoids in health and wellness)[82] Segment Performance (Three Months Ended March 31, 2022) | Metric | InMed ($) | BayMedica ($) | Total ($) | |:---|:---|:---|:---|\n| Sales | - | 309,585 | 309,585 | | Operating expenses | 2,940,961 | 844,289 | 3,785,250 | | Net loss | (2,940,961) | (534,704) | (3,475,665) | | Unrestricted cash | 5,386,206 | 512,107 | 5,898,313 | Segment Performance (Nine Months Ended March 31, 2022) | Metric | InMed ($) | BayMedica ($) | Total ($) | |:---|:---|:---|:---|\n| Sales | - | 574,677 | 574,677 | | Operating expenses | 9,477,441 | 1,827,330 | 11,304,771 | | Net loss | (9,477,441) | (1,252,653) | (10,730,094) | | Unrestricted cash | 5,386,206 | 512,107 | 5,898,313 | 14. Non-Cash Transactions Significant non-cash transactions included issuing warrants for services, common shares for the BayMedica acquisition, and cashless exercise of warrants - Issued warrants for services with a fair value of $739,920 to a placement agent[86] - Issued 2,050,000 common shares with an estimated fair value of $3,013,500 for the BayMedica acquisition[86] - 369,600 warrants were exercised on a cashless basis, resulting in the issuance of 146,814 common shares[85] 15. Commitments and Contingencies The company has commitments for contract research services and materials totaling approximately $3.3 million, with most expected within the next twelve months, alongside potential royalty payments and a patent license agreement accrual - Committed to approximately $3,319,699 for contract research services and materials, with $3,209,699 expected within the next twelve months[87] - Accrued $300,000 for minimum royalty payments under a patent license agreement, with 2021 payments deferred to 2022[94] - Committed to issue up to 17,500 warrants upon achievement of certain milestones under a technology licensing agreement[93] 16. Financial Risk Management The company is exposed to foreign currency and interest rate risks, maintains minimal credit risk, and manages liquidity despite going concern uncertainties - Exposed to foreign currency risk, primarily against the Canadian dollar, where a 1% change in the CAD/USD exchange rate would result in a $12,583 gain or loss based on the March 31, 2022 net CAD asset position[99][101][102] - Interest rate risk exists on $4,483,590 of floating interest rate cash and cash equivalents as of March 31, 2022[103] - As of March 31, 2022, the company had a working capital surplus of $4,641,384, but still faces liquidity challenges given its going concern uncertainty[106] 17. Related Party Transactions Legal services totaling $27,770 were rendered by Norton Rose Fulbright Canada LLP, a firm where a newly appointed director is a Partner - Legal services of $27,770 were provided by Norton Rose Fulbright Canada LLP, where Janet Grove, a newly appointed director, is a Partner[107] 18. Subsequent Events Subsequent events include cashless warrant exercises, escrow payments to BayMedica holders, and an At The Market Offering Agreement generating $0.3 million in net proceeds - 20,556 warrants were exercised on a cashless basis on April 21, 2022, resulting in 10,556 common shares[108] - On April 13, 2022, $300,457 of escrow payments were made to BayMedica's historical equity and convertible debt holders, reflecting $199,543 in post-closing reductions[109] - Sold 268,985 common shares under an At The Market Offering Agreement in April 2022, generating $0.3 million in net proceeds[110] ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Management discusses the company's financial condition and results, highlighting its focus on rare cannabinoid development, the BayMedica acquisition's impact, significant operating losses, and the ongoing need for substantial additional funding - The company is a global leader in the research, development, manufacturing, and commercialization of rare cannabinoids, with capabilities spanning pharmaceutical product candidates and B2B supply for the health and wellness industry[118] - The acquisition of BayMedica in October 2021 significantly expanded the company's cannabinoid manufacturing capabilities and introduced product sales[118][122] - The company expects to incur substantial operating losses and negative operating cash flows for the foreseeable future, requiring additional funding through equity, debt, or strategic transactions[123][125][174] Overview InMed Pharmaceuticals Inc. is a clinical-stage pharmaceutical company and B2B rare cannabinoid supplier, focusing on drug candidates for EB and glaucoma, while incurring significant operating losses and requiring substantial future funding - InMed is a global leader in rare cannabinoid research, development, manufacturing, and commercialization, serving both pharmaceutical and health & wellness B2B sectors[118] - The company's lead drug candidates are INM-755 for Epidermolysis bullosa (EB) and INM-088 for glaucoma, both utilizing cannabinol (CBN) and intended for topical application to minimize systemic exposure[120][121] - Net loss for the nine months ended March 31, 2022, was $10.7 million, contributing to an accumulated deficit of $85.6 million, and the company anticipates continued operating losses[123] Recent Developments Recent developments include a $12.0 million private placement, commencement of a Phase 2 clinical trial for INM-755, the BayMedica acquisition, and the launch of B2B sales for rare cannabinoids CBT and CBDV - Closed a $12.0 million private placement on July 2, 2021, yielding approximately $11.0 million in net proceeds[128] - Commenced a Phase 2 clinical trial of INM-755 (cannabinol) cream for Epidermolysis Bullosa (EB) on September 30, 2021[129] - Acquired BayMedica Inc. on October 13, 2021, for 2.05 million common shares and $1 million in escrow, expanding rare cannabinoid manufacturing and commercialization[130] - Launched B2B sales of rare cannabinoids cannabicitran (CBT) and cannabidivarin (CBDV) in January and April 2022, respectively[131] Components of Results of Operations This section outlines revenue from rare cannabinoid sales, cost of sales, and operating expenses including R&D, G&A, amortization, depreciation, and share-based payments, with other income primarily from interest - Revenue is recognized from manufacturing and distribution sales of bulk rare cannabinoids when control is transferred to the customer[132] - Research and development expenses include external CRO/CDMO costs, salaries, research supplies, and patent fees, expensed as incurred[134][138] - General and administrative expenses cover personnel costs, investor relations, legal, accounting, and facility-related costs[143] - Share-based payments expense is recognized for equity-settled share awards using the Black-Scholes option pricing model[147] Results of Operations - Three Months Ended March 31, 2022 and 2021 For the three months ended March 31, 2022, the company reported initial sales and gross profit from the BayMedica acquisition, with net loss increasing by 12% to $(3.48) million due to higher general and administrative expenses and BayMedica's operating costs Financial Performance (Three Months Ended March 31) | Metric | 2022 ($ thousands) | 2021 ($ thousands) | Change ($ thousands) | % Change | |:---|:---|:---|:---|:---|\n| Sales | 310 | - | 310 | nm | | Cost of sales | 127 | - | 127 | nm | | Gross profit | 183 | - | 183 | nm | | Research and development and patents | 1,754 | 1,773 | (19) | -1% | | General and administrative | 1,915 | 1,334 | 581 | 44% | | Amortization and depreciation | 54 | 27 | 27 | 100% | | Total operating expenses | 3,723 | 3,134 | 589 | 19% | | Net loss | (3,476) | (3,101) | (375) | 12% | - Sales of $0.3 million and gross profit of $0.2 million were realized in the BayMedica segment for the three months ended March 31, 2022, with no comparable figures in 2021[150] - InMed segment's R&D expenses decreased by $0.4 million (22%) due to decreased INM-755 clinical trial activities, while BayMedica contributed $0.4 million in R&D expenses[151][152] - General and administrative expenses increased by $0.2 million (17%) in the InMed segment due to higher accounting, legal, and investor relations fees, plus $0.3 million from BayMedica's operations[153][154] Results of Operations - Nine Months Ended March 31, 2022 and 2021 For the nine months ended March 31, 2022, sales of $0.6 million and gross profit of $0.3 million were recorded from the BayMedica segment, while net loss increased by 55% to $(10.73) million due to significantly higher R&D and G&A expenses Financial Performance (Nine Months Ended March 31) | Metric | 2022 ($ thousands) | 2021 ($ thousands) | Change ($ thousands) | % Change | |:---|:---|:---|:---|:---|\n| Sales | 575 | - | 575 | nm | | Cost of sales | 281 | - | 281 | nm | | Gross profit | 294 | - | 294 | nm | | Research and development and patents | 5,781 | 3,622 | 2,159 | 60% | | General and administrative | 5,125 | 2,918 | 2,207 | 76% | | Amortization and depreciation | 132 | 92 | 40 | 43% | | Total operating expenses | 11,038 | 6,632 | 4,406 | 66% | | Net loss | (10,730) | (6,944) | (3,786) | 55% | - Sales of $0.6 million and gross profit of $0.3 million were generated by the BayMedica segment, with no comparable figures in 2021[157] - InMed segment's R&D expenses increased by $1.2 million (34%) due to increased INM-755 clinical trial activities, and BayMedica contributed $0.9 million in R&D expenses[158][159] - General and administrative expenses increased by $1.6 million (54%) in the InMed segment due to legal fees, investor relations, personnel, and higher insurance, plus $0.6 million from BayMedica's operations[160][161] Liquidity and Capital Resources The company, historically funded by share sales, continues to incur significant operating losses, with $5.9 million in cash as of March 31, 2022, and faces substantial doubt about its going concern ability, requiring additional funding - Cash and cash equivalents were $5.9 million as of March 31, 2022[166] Cash Flow Summary (Nine Months Ended March 31) | Activity | 2022 ($ thousands) | 2021 ($ thousands) | |:---|:---|:---|\n| Net cash used in operating activities | (11,537) | (7,785) | | Net cash provided by investing activities | 53 | - | | Net cash provided by financing activities | 10,019 | 10,938 | | Net increase (decrease) in cash and cash equivalents | (1,465) | 3,648 | - The company expects its cash to fund operations only into Q2 fiscal 2023, necessitating additional funding through equity, debt, or strategic transactions[180][181] Off-Balance Sheet Arrangements The company did not have any off-balance sheet arrangements during the periods presented - The company did not have any off-balance sheet arrangements during the periods presented[186] Critical Accounting Policies and Significant Judgments and Estimates Financial statement preparation requires management estimates and assumptions, particularly for business combinations and the critical judgment of the company's going concern ability due to recurring losses - Key estimates and assumptions include fair values of assets acquired and liabilities assumed in acquisitions, useful life of intangible assets, impairment assessment for long-lived assets, and fair value of share-based payments and warrants[27] - Business combinations are accounted for using the acquisition method, with fair value allocation to identifiable tangible and intangible assets (including IPR&D, patents, trademarks) and liabilities, and the remainder classified as goodwill[190][191] - The company's ability to continue as a going concern is a critical judgment, given recurring losses and the expectation that current cash will only fund operations into Q2 fiscal 2023[192][195] ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK As a smaller reporting company, InMed Pharmaceuticals Inc. is not required to provide detailed market risk disclosures in this report - As a smaller reporting company, InMed Pharmaceuticals Inc. is not required to provide detailed market risk disclosures[198] ITEM 4. CONTROLS AND PROCEDURES As of March 31, 2022, the company's disclosure controls and procedures were ineffective due to a material weakness in internal controls over financial reporting, with a remediation plan underway for completion by fiscal year-end 2022 - As of March 31, 2022, disclosure controls and procedures were not effective due to a material weakness in internal controls over financial reporting, specifically a lack of resources in the finance function[199] - A remediation plan is being implemented, involving additional finance resources, changes to closing reporting processes, and external assistance[202] - The material weakness is expected to be remediated by the end of fiscal year 2022, once controls operate effectively for a sufficient period[202] PART II – OTHER INFORMATION ITEM 1. LEGAL PROCEEDINGS The company is not currently involved in any material active legal actions - The company is not involved in any material active legal actions[205] ITEM 1A. RISK FACTORS As a smaller reporting company, InMed Pharmaceuticals Inc. is not required to provide specific risk factor disclosures in this report - As a smaller reporting company, the registrant is not required to provide risk factor information in this item[206] - For a discussion of potential risks and uncertainties, refer to the company's Form 10-K dated September 24, 2021, and Registration Statement on Form S-3 filed March 5, 2022[206] ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS There were no unregistered sales of equity securities or use of proceeds to report for the period - No unregistered sales of equity securities and use of proceeds to report[207] ITEM 3. DEFAULTS UPON SENIOR SECURITIES There were no defaults upon senior securities to report for the period - No defaults upon senior securities to report[208] ITEM 4. MINE SAFETY DISCLOSURE There is no mine safety disclosure to report for the period - No mine safety disclosure to report[209] ITEM 5. OTHER INFORMATION There is no other information to report for the period - No other information to report[209] ITEM 6. EXHIBITS This section lists the exhibits filed as part of the Form 10-Q report, including certifications and various Inline XBRL documents - Exhibits include certifications from the CEO and Interim CFO (pursuant to Rule 13a-14(a) and 18 U.S.C. Section 1350) and Inline XBRL documents (Instance, Schema, Calculations, Definitions, Labels, Presentations, and Cover Page Interactive Data File)[211] SIGNATURES