Adya : Consolidated FS - 06.30.2022

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS OF

ADYA INC.

THREE AND SIX MONTHS ENDED JUNE 30, 2022 AND 2021

(EXPRESSED IN CANADIAN DOLLARS)

(UNAUDITED)

TO THE SHAREHOLDERS OF ADYA INC.

The unaudited condensed interim consolidated statements of financial position of Adya Inc. at June 30, 2022, the unaudited condensed interim consolidated statements of operations and comprehensive income (loss) for the three- and six month periods ended June 30, 2022 and June 30, 2021, and the unaudited condensed interim consolidated statements of shareholders' equity and cash flows for the six-month periods ended June 30, 2022 and June 30, 2021 have not been reviewed by the Company's auditors.

These unaudited condensed interim consolidated financial statements are the responsibility of management and have been reviewed and approved by the Company's Audit Committee and Board of Directors.

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Adya Inc.

Condensed Interim Consolidated Statements of Financial Position (unaudited)

(In Canadian Dollars)

As at June 30, 2022 and December 31, 2021

		June 30,	December 31,
	Note	2022		2021
Assets
Current assets:
Cash and cash equivalents	4	$ 57,526	$	96,060
Trade and other receivables, net of
allowance for doubtful accounts	5	306,563		266,691
Inventory		37,868		33,884
Prepaid expenses and other		518,601		486,869
Total current assets		920,558		883,504
Non-current assets:
Right-of-use assets	6	265,307		379,435
Property and equipment	7	88,324		118,737
Intangible assets	8	337		984
Total non-current assets		353,968		499,156
Total assets		$ 1,274,526	$ 1,382,660
Liabilities and Shareholders' Equity (Deficiency)
Current liabilities:
Accounts payable and accrued liabilities	14	$ 1,426,813	$	1,060,323
Lease liabilities - current	9	197,509		220,873
Due to related party	19	575,909		453,427
Deferred revenue		548,057		506,336
Notes payable - current	10	177,836		177,836
Total current liabilities		2,926,124		2,418,795
Non-current liabilities:
Lease liabilities	9	119,501		217,703
Notes payable - long term	10	640,799		640,799
Long term loan		60,000		60,000
Total non-current liabilities		820,300		918,502
Total liabilities		3,746,424		3,337,297
Shareholders' equity (deficiency):
Share capital	11(a)	5,634,247		5,634,247
Contributed surplus	11(b)	621,402		621,402
Deficit		(8,727,547)	(8,210,286)
Total shareholders' equity (deficiency)		(2,471,898)	(1,954,637)
Total equity and liabilities		$ 1,274,526	$ 1,382,660
Contingencies	17
Subsequent events	21

The accompanying notes are an integral part of these condensed interim consolidated financial statements.

Approved on behalf of the Board:

"Samer Bishay"

Director

"Magdi Wanis"

Director

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Adya Inc.

Condensed Interim Consolidated Statements of Operations and Comprehensive Loss (unaudited) (In Canadian Dollars)

Three and six months ended June 30, 2022 and 2021

		Three months ended	Six months ended
			June 30,	June 30
	Note		2022		2021	2022	2021
	s
Revenue		$	1,067,121	$	1,222,074	$ 2,186,533	$ 2,461,243
Telecommunications costs			456,192		691,321	1,014,211	1,389,455
Gross margin			610,929		530,753	1,172,322	1,071,788
Operating expenses
General and administrative			659,991		518,659	1,265,823	1,017,306
Marketing and selling			22,128		71,239	72,942	137,730
Development and technical support			77,847		77,048	155,481	153,915
Depreciation and amortization	6,7,8		71,354		85,472	149,514	169,492
			831,320		752,418	1,643,760	1,478,443
Operating loss before finance costs
and other income			(220,391)		(221,665)	(471,438)	(406,655)
Finance costs, net			(34,088)		(30,325)	(49,009)	(57,348)
Other income			1,719		32,006	3,187	104,390
			(32,369)		1,681	(45,822)	47,042
Loss before income taxes			(252,760)		(219,984)	(517,260)	(359,613)
Income tax (expense) recovery	3		-		-	-	-
Net loss and comprehensive loss		$	(252,760)	$	(219,984)	$ (517,260)	$ (359,613)
Loss per share:
Basic and diluted	12	$	(0.01)	$	(0.01)	$ (0.01)	$ (0.01)

The accompanying notes are an integral part of these consolidated financial statements

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Adya Inc.

Condensed Interim Consolidated Statements of Shareholders' deficiency (unaudited) (In Canadian Dollars)

Six months ended June 30, 2022 and 2021

								Total
		Share	Contributed		Deficit	shareholders'
	capital	surplus			equity (deficiency)
Balance, December 31, 2020	$	5,634,247	$	621,402	$	(7,465,278)	$	(1,209,629)
Net loss for the period		-		-		(359,613)		(359,613)
Balance, June 30, 2021		5,634,247		621,402		(7,824,891)		(1,569,242)
Balance, December 31, 2021	$	5,634,247	$	621,402	$	(8,210,286)	$	(1,954,637)
Net loss for the period		-		-		(517,260)		(517,260)
Balance, June 30, 2022	$	5,634,247	$	621,402	$	(8,727,546)	$	(2,471,897)

The accompanying notes are an integral part of these consolidated financial statements

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