PharmaCorp Refiles Q2 2025 Financial Statements

Core Viewpoint - PharmaCorp RX Inc. has restated and refiled its financial statements for the interim period ended June 30, 2025, following a review by its Auditor, with certain accounting adjustments made that do not affect the overall financial position of the Corporation [1]. Financial Adjustments - The Amended Q2 2025 Statements show significant changes, including an increase in intangible assets from $4,847,651 to $6,937,651 and the addition of an acquired charter valued at $2,090,000 [2]. - The purchases of property and equipment were adjusted from $2,145,438 to $55,438, indicating a significant revision in asset reporting [2]. - The total assets and net cash used in investing activities remained unchanged despite these adjustments, indicating minimal impact on the overall financial health [3]. Notes and Revisions - Changes were made to the notes of the Amended Q2 2025 Statements, including a working capital adjustment for the acquisition of Atlantic Canada 1 amounting to $1,019,014 and the addition of the acquired charter as a line item [5]. - A footnote was added to clarify ownership restrictions under Ontario's Drug and Pharmacies Regulation Act, and amortization amounts were revised accordingly [5]. - Subsequent event notes were added to reflect the closing of the purchase of two pharmacies in Western Canada and one in Eastern Canada, as announced on October 2, 2025 [5]. Company Operations - PharmaCorp operates seven PharmaChoice Canada bannered pharmacies and plans to continue acquiring more pharmacies under this brand, as part of its strategic alliance with PharmaChoice Canada [4]. - The Corporation is also open to acquiring independently owned pharmacies and transitioning them to the PharmaChoice Canada banner [4]. - PharmaCorp actively seeks discussions with pharmacy owners regarding succession or sale, emphasizing a commitment to seamless transitions that protect legacies and serve communities [6].