Urbanimmersive: Annual audited financial statements

URBANIMMERSIVE INC.

Consolidated financial statements

Financial years ended September 30, 2021 and 2020

The independent auditor’s report

To the shareholders of

Urbanimmersive Inc.

Opinion

Raymond Chabot

Grant Thorton LLP

Sequel 2000

National Bank Tower

600 De La Gauchetière Street West

Montreal, Quebec

H3B 4L8

  1. 514-878-2691

We have audited the consolidated financial statements of Urbanimmersive Inc. (hereafter “the Company”), which include the consolidated statements of financial position as at September 30, 2021 and 2020, and the consolidated statements of comprehensive income, the statements consolidated statements of changes in equity and consolidated statements of cash flows for the years then ended, together with the notes to the consolidated financial statements, including a summary of significant accounting policies.

In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the financial position of the Company as at September 30, 2021 and 2020, and its financial performance and its cash flows for the years then ended, in accordance with International Financial Reporting Standards (IFRS).

Opinion base

We conducted our audit in accordance with Canadian generally accepted auditing standards. Our responsibilities under those standards are further described in the “Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements” section of our report. We are independent of the Company in accordance with ethical requirements applicable to our audit of the consolidated financial statements in Canada and we have discharged our other ethical responsibilities in accordance with those requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to support our opinion.

Information other than the consolidated financial statements and the auditor’s report thereon

The management is responsible for the other information. Other information includes information included in the management report.

Member of Grant Thornton International Ltd

rcgt.com

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Our opinion on the consolidated financial statements does not cover the other information and we do not express any form of conclusion of assurance thereon. As part of our audit of the consolidated financial statements, our responsibility is to read the other information identified above and, in doing so, to consider whether the other information is materially inconsistent with the consolidated financial statements or our knowledge acquired during the audit. audit, or otherwise appear to be materially inaccurate.

We obtained the MD&A prior to the date of the auditor’s report. If, based on our work on that other information, we conclude that there is a material misstatement of that other information, we are required to report that fact in this auditor’s report. We have nothing to report in this regard.

Responsibilities of Management and Those Charged with Governance for the Consolidated Financial Statements

Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with International Financial Reporting Standards (IFRS) and for such internal control as it deems necessary to enable the preparation of consolidated financial statements that are free from material misstatement. , whether due to fraud or error.

In preparing the consolidated financial statements, management is responsible for assessing the Company’s ability to continue as a going concern, disclosing going concern issues, if any, and using the accounting principle going concern, unless management intends to liquidate the Company or cease operations or has no realistic alternative to doing so.

Those charged with governance are responsible for overseeing the Company’s financial reporting process.

Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements

Our objectives are to obtain reasonable assurance that the consolidated financial statements taken as a whole are free from material misstatement, whether due to fraud or error, and to issue an audit report containing our opinion . Reasonable assurance is a high level of assurance, but does not guarantee that an audit performed in accordance with Canadian generally accepted auditing standards will always detect a material misstatement when it exists. Misstatements may arise from fraud or error and are considered material if, individually or in the aggregate, they can reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.

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As part of an audit conducted in accordance with Canadian generally accepted auditing standards, we exercise our professional judgment and maintain professional skepticism throughout the audit. We have also:

  • Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures in response to those risks, and obtain sufficient audit evidence and appropriate on which to base our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, because fraud may involve collusion, falsification, intentional omissions, misstatements or override of control internal;
  • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control;
  • Evaluate the appropriateness of accounting methods used and the reasonableness of accounting estimates and related disclosures made by management;
  • Conclude on the appropriateness of management’s use of the going concern accounting principle and, on the basis of the evidence obtained, on the existence or not of a material uncertainty related to events or conditions likely to cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures provided in the consolidated financial statements or, if such disclosures are insufficient, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our audit report. However, future events or conditions may cause the Company to cease carrying out its activities;
  • Evaluate the overall presentation, structure and content of the consolidated financial statements, including disclosures, and determine whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation;
  • To obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other things, the planned scope and timing of the audit and significant audit findings, including any material deficiencies in internal control that we identify during our audit.

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We also provide those charged with governance with a statement that we have complied with relevant ethical requirements for independence, and to communicate with them all relationships and other matters that may reasonably be considered to impact our independence and , if applicable, the related warranties.

The partner responsible for the audit engagement that gave rise to this independent auditor’s report is Louis Berardi.

1

Montreal

January 25, 2022

___________________________________

1 CPA auditor, CA public accountancy permit no. A115879

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Public now 2022

All the news of URBANIMMERSIVE INC.
Sale 2020 4.59 million
3.61 million
3.61 million
Net result 2020 -0.41M
-0.32M
-0.32M
Net debt 2020 4.13 million
3.24M
3.24M
2020 PER ratio -4.50x
2020 performance
Capitalization 23.0 million
18.1M
18.1M
EV / Sales 2019 1.69x
EV / Sales 2020 1.76x
# of employees
Floating 91.3%

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