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Kadestone Capital Corp. Reports Q4 and Full Year 2025 Financial Results
May 04, 2026 8:30 AM EDT | Source: Kadestone Capital Corp.
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Vancouver, British Columbia--(Newsfile Corp. - May 4, 2026) - Kadestone Capital Corp. (TSXV: KDSX) (" Kadestone " or the " Company "), a vertically integrated property company today announced its financial results for the year ended December 31, 2025.
Financial Results
For the year ended December 31, 2025, the Company reported a net loss of $6,186,532, or $0.13 per share, compared to a net loss of $5,356,082(1), or $0.11(1) per share, for the same period in the prior year. The increased loss was primarily due to higher operating expenses, including salaries and wages of $1,908,312, consulting fees of $1,482,130, interest expense of $1,034,333, and professional fees of $592,718. In addition, the Company recognized a loss from associates of $442,291, representing the net result of revenues less interest and operating costs while the properties are held for sale. This was partially offset by income of $237,312 from the Company's investment in a mortgage fund.
Net cash used in operating activities also decreased to $4,707,510 for the year ended December 31, 2025, compared to $5,010,386(1) in the prior year due to lower interest expense.
The above audited financial information, including comparative information, is expressed in Canadian dollars and has been prepared in accordance with IFRS Accounting Standards, using the accounting policies and methods of application as described in notes 2 and 3 of the Company's audited consolidated financial statements for the years ended December 31, 2025, and 2024.
Private Placement
The Company also announces that further to its news release on February 25, 2026, wherein the Company announced a non-brokered private placement (the " Private Placement "), and its subsequent news releases on March 11, 2026 and April 13, 2026, announcing the closing of the first and second tranches of the Private Placement, the Private Placement is now closed and no further tranches will be issued under this financing. Pursuant to the Private Placement, the Company issued six secured convertible notes in the aggregate principal amount of $1.98 million and 3,960,000 common share purchase warrants.
About Kadestone
Kadestone was established to pursue the investment in, acquisition, development and management of residential and commercial income producing properties, and procurement and sale of building materials within major urban centres and high-growth, emerging markets in Canada. The Company operates five complimentary business lines spanning building materials procurement and supply, property development and construction, construction finance, asset ownership and property management. These synergistic business lines have solidified Kadestone's vision to become a market leading vertically integrated property company. Additional information can be found at .
Note 1 Restatement of Comparative Amounts
During the preparation of the financial statements for the year ended December 31, 2025, the Company identified errors in the prior period relating to the capitalization of borrowing costs, property taxes, and other carrying costs that were previously incorrectly capitalized at equity accounted investees after development activities had ceased or assets were actively marketed for sale, as well as selling and administrative costs that should have been expensed as incurred.
In accordance with IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors, the Company has corrected this error retrospectively, and the comparative information as at and for the year ended December 31, 2024 have been restated. The impact of the restatement adjustments have been summarized below:
Statement of Financial Position
As at January 1, 2024, the Company's investment in associates and accumulated deficit were adjusted by a decrease of $240,759, from $22,866,125 to $22,625,366 and from $12,179,621 to $12,420,380, respectively.
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