Vancouver, British Columbia--(Newsfile Corp. - September 29, 2026) - Uniserve Communications Corporation (TSXV: USS) (the "Company" or "Uniserve"), a sovereign Canadian digital infrastructure platform providing managed IT, connectivity, cloud, cybersecurity and data centre services, wishes to announce its annual fiscal 2026 financial results. Fiscal 2025 amounts have been restated as per note 4(s) below. Revenues for fiscal 2026 were $10,187K as compared to $6,972K for the prior fiscal year. The annual fiscal 2026 Operating Loss was $2,501K compared to an Operating Loss of $1,681K for the prior fiscal year. Net loss for fiscal 2026 was $4,704K as compared to Net loss of $1,702K for the prior fiscal year.
| Uniserve Communications Corporation | ||
| Condensed interim consolidated statements of comprehensive income (loss) | ||
| (Expressed in Canadian dollars) | ||
| Year ended May 31, | ||
| 2026 | 2025 | |
| Restated | ||
| Note 4(s) | ||
| Revenue | $ 10,186,988 | $ 6,971,894 |
| Cost of revenues | 5,798,512 | 3,863,759 |
| 4,388,476 | 3,108,135 | |
| Expenses | ||
| Operations and service delivery expenses | 4,150,948 | 3,265,143 |
| Sales and marketing expenses | 502,163 | 634,901 |
| Amortization of property and equipment | 1,399,907 | 95,990 |
| Amortization of intangible assets | 283,456 | 79,058 |
| Share-based compensation | 553,000 | 714,000 |
| 6,889,474 | 4,789,092 | |
| (2,500,998) | (1,680,957) | |
| Other Income (Expenses) | ||
| Finance charges | (610,220) | (109,386) |
| Loss on foreign exchange | 75 | (4,463) |
| Gain on write-off of trade payables | 336,583 | - |
| Impairment Loss | (1,945,233) | - |
| Finance Income | 15,483 | 92,809 |
| (2,203,312) | (21,040) | |
| Net and Comprehensive Loss for the year | $ (4,704,310) | $ (1,701,997) |
Note 4(s) Restatement of comparative information
The Company has restated its comparative column to these consolidated financial statements for the year ended May 31, 2025, to reflect the correct accounting treatment for the $196,700 fair value of 1,000,000 share purchase warrants granted in connection with a debt facility.
Subsequent to the year-ended May 31, 2025, the Company has determined that Financing Costs in the Consolidated of Comprehensive Statement Loss decreased by $196,700, as the warrant valuation is no longer recognized as an upfront finance expense under IFRS 9: Financial Instruments. On the consolidated statements of financial position, the Share Purchase Warrants Reserve within Equity Reserves increases by $196,700 to record the equity component of the warrants. The consolidated financial statements of the Company as at May 31, 2025, and for the year ended have been restated and the following table summarizes the effects of the adjustment described above:
| Previously reported | Adjustment increase/ (decrease) | Restated | |
| As at May 31, 2025: | |||
| Statement of financial position | |||
| Equity reserves | $ 5,380,819 | $ (196,700) | $ 5,184,119 |
| Deficit | (38,696,672) | 196,700 | (38,499,972) |
| Consolidated statement of comprehensive loss | |||
| Finance charges | (306,086) | 196,700 | (109,386) |
| Net and comprehensive loss for the year | (1,898,697) | 196,700 | (1,701,997) |
| Loss per share, basic and diluted | (0.07) | 0.01 | (0.06) |
| Statement of cash flows | |||
| Net loss and comprehensive loss | (1,898,697) | 196,700 | (1,701,997) |
| Finance charges | $ (196,700) | $ 196,700 | $ - |
About Uniserve
Uniserve Communications Corporation (TSXV: USS) is a sovereign Canadian digital infrastructure platform providing mission-critical connectivity, managed IT services, cybersecurity, AI Agents, cloud solutions and data centre infrastructure to business customers across Canada. Through its operations in Vancouver, Calgary and Waterloo, the Company is building a scalable, recurring revenue platform designed to support the digital transformation of Canadian enterprises.
By combining communications infrastructure with higher-value managed technology services and strategic acquisitions, Uniserve is creating a diversified technology platform positioned for sustainable long-term growth and increasing shareholder value.
This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.
Learn more at www.uniserve.com or at www.sedarplus.ca.
Gautam Lohia
Chairman/CEO
For more information please call 604-395-3961 or email [email protected].
Neither TSX Venture Exchange nor its Regulations Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Management has prepared this release and no regulatory authority has approved or disapproved the information contained herein. The statements contained in this news release that are not historical facts are forward-looking statements. Such statements are based on management's estimates, assumptions and projections using available information. Uniserve cautions that actual financial results could differ materially from the current expectations due to a number of factors.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/316495