Pineapple Financial Inc 2026年季度报告

FORM 10-Q Commission File Number 001-41738 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Actof 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required tosubmit such files). Yes☒No☐. Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”and “emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act) Yes☐No☒ TABLE OF CONTENTS FOR FORM 10-Q PART I.FINANCIAL INFORMATION PART II.OTHER INFORMATION Pineapple Financial Inc.Notes to the Condensed Interim Consolidated Financial Statements - UnauditedFor period ended November 30, 2025 1.Description of business Pineapple Financial Incorporation, (“the Company”) was incorporated in 2006, under the Ontario Business Corporations Act. Later thecompany was registered under Canadian Business Corp. The Company’s head office is located at 200-111 Gordon Baker Road, Toronto, Going Concern The Company continues to incur significant operating losses and negative operating cash flows, a trend expected to persist in the nearterm. For the three months period ended November 30, 2025, the Company incurred a net loss of $6,435,085 (November 30, 2024 -$656,894) and reported negative cash flows from operating activities of $498,367 (November 30, 2024 – 663,597). As at November 30,2025, the Company had an accumulated deficit of $19,831,524 (August 30, 2025 – $13,396,439) and a working capital deficit of Management’s ability to sustain operations depends on realizing assets and managing obligations as they come due, as well as securingadditional financial resources. Subsequent to period end, the Company entered into the Injective Digital Asset Treasury Initiative, pursuantto which the Company received approximately $19.00 million on January 9, 2025. In addition, the Company completed an investment of Management’s plans to address these conditions include: 1.securing the proceeds expected under the Injective initiative,2.pursuing additional capital and financing arrangements, and These plans are discussed further in Note 17, Subsequent Events. There is no assurance that these initiatives will be achieved as planned.Accordingly, substantial doubt remains regarding the Company’s ability to continue as a going concern. Impact from the global inflationary pressures leading to higher interest rates During fiscal 2024, global inflationary pressures resulted in central banks, including the Bank of Canada, increasing benchmark interestrates to mitigate inflation. The resulting higher borrowing costs led to a slowdown in real-estate activity, reduced pricing pressures, and In fiscal 2025, the Bank of Canada began to gradually reduce interest rates as inflationary trends moderated and economic conditionssoftened. While these decreases are expected to improve housing affordability and support market recovery over time, the full impact on 2.Significant accounting policies Statement of compliance These consolidated financial statements have been prepared in accordance with United States Generally Accepted Accounting Principles(“US GAAP”). The consolidated financial statements were authorized for issue by the Board of Directors on January 20, 2026. Basis of preparation, functional and presentation currency The condensed interim consolidated financial statements have been preparedin accordance with GAAP applicable to a going concern,which contemplates the realization of assets and the satisfaction of liabilities in the normal course of businesson the historical cost basis All financial information is presented in US Dollars (“USD”) as the Company’s presentation currency and functional currency is inCanadian Dollars (“CAD”). The interim financial statements are condensed and should be read in conjunction with the Company’s latestannual year-end consolidated financial statements for the year ended August 31, 2025. It is management’s opinion that all adjustmentsnecessary for a fair statement of the results for the interim period has been made, an