Los Angeles, California--(Newsfile Corp. - June 26, 2025) - California Nanotechnologies Corp. (TSXV: CNO) (OTC Pink: CANOF) ("Cal Nano" or the "Company") is pleased to announce revenues of US$6,224,738 for the fiscal year ending February 28, 2025. This represents an increase of 87% compared to the prior year. Adjusted EBITDA1 showed significant improvement at US$2,558,515 for the fiscal year ending February 28, 2025, compared with US$1,157,141 in the prior year.
Net loss for the fiscal year was US$158,333, compared to net income of US$381,678 in the prior fiscal year. The lower net income was mainly due to non-cash charges in the amount US$1,252,922 in FY2025 compared to US$164,283 in FY2024, which were related to losses on share purchase warrants2. These warrants have led to non-cash charges arising from IFRS accounting rules and the Company's reporting in U.S. dollars, while its outstanding warrants are denominated in Canadian dollars. Once these warrants are exercised or expire, these non-cash gains or losses are expected to cease appearing on the Company's financial results.
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