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Woodfine Capital Projects

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Quarterly Reporting

Canadian reporting issuers subject to NI 51-102 are required to file interim financial statements and a quarterly Management's Discussion and Analysis (MD&A) for each of the first three fiscal quarters. The quarterly reporting cycle is distinct from the annual cycle in both the financial statement standard applied and the deadline applicable to the filing.

Interim financial statements

Quarterly financial statements filed under NI 51-102 are prepared in accordance with IAS 34 Interim Financial Reporting rather than the full IFRS standards applied to annual statements.1 IAS 34 permits a condensed format that includes:

  • A condensed statement of financial position
  • A condensed statement of comprehensive income for the quarter and the year-to-date period, each with comparative prior-year figures
  • A condensed statement of changes in equity
  • A condensed statement of cash flows
  • Selected explanatory notes

The selected notes required under IAS 34 are materially narrower than annual note disclosure: they must explain events and transactions significant to the current quarter but need not reproduce the full accounting policy disclosures included in annual statements.

Quarterly MD&A requirements

The quarterly MD&A operates under the same Form 51-102F1 framework as the annual MD&A, but with a materially reduced disclosure scope commensurate with the interim period. Required elements include:

  • Results of operations — discussion of the current quarter and year-to-date results compared to the prior-year comparative periods
  • Liquidity and capital resources — analysis of current period cash flows and significant changes in liquidity position
  • Off-balance-sheet arrangements — updated disclosure of any material changes since the most recent annual MD&A
  • Transactions with related parties — complete disclosure of transactions not already disclosed in the financial statements
  • Proposed transactions — disclosure of any significant acquisitions or dispositions not yet completed but publicly announced

For real estate entities, the quarterly MD&A typically addresses:

Filing deadlines

Non-venture reporting issuers must file quarterly financial statements and MD&A within 45 calendar days of the end of each of the first three fiscal quarters.2 The fourth-quarter financial reporting is replaced by the annual financial statements filed within the 90-day annual deadline. Venture issuers have 60 calendar days for quarterly filings.

All interim filings are made through SEDAR+ and are publicly accessible upon filing.

See also

  1. IAS 34 Interim Financial Reporting. IASB. ↩

  2. National Instrument 51-102 Continuous Disclosure Obligations. CSA, 2004 (as amended). ↩

Important Information

Important Information

Securities offering. Woodfine Capital Projects Inc. ("Woodfine") sponsors real-property direct-hold solutions. Interests in those solutions are offered only to investors who qualify under an applicable prospectus exemption — including the accredited-investor exemption under National Instrument 45-106 — Prospectus Exemptions, and equivalent exemptions in other applicable jurisdictions. Content on this wiki is provided for general informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security. Any offering is made exclusively by means of the applicable Private Placement Memorandum, which prospective investors should review, together with their own professional advisors, before investing.

Scope. This wiki describes Woodfine's research methodology, geographic data platform, and related activities at a high level and is qualified in its entirety by the applicable Private Placement Memorandum and the governing documents of the relevant issuer.

Risk. Investment in real-property direct-hold solutions involves significant risk, including possible loss of capital. Past performance is not indicative of future results. References to structural features such as advisory fees, transferability, and net asset value methodology describe the contractual terms of the direct-hold solutions and are not representations as to investment outcomes or returns.

Forward-looking statements. Statements that are not historical facts may constitute forward-looking information within the meaning of applicable Canadian securities laws. Such statements are subject to known and unknown risks, uncertainties and assumptions, and actual results may differ materially. Woodfine undertakes no obligation to update such statements except as required by law.

Registration. Registrable activities of Woodfine and its affiliates are conducted, where required, under the applicable registration categories prescribed by the British Columbia Securities Commission and other Canadian securities regulators. Specific registration details are available on request.

Jurisdiction. Woodfine Capital Projects Inc. is organized in British Columbia, Canada. References to the Sovereign Data Foundation on this wiki describe a planned or intended initiative only, not a current equity holder or active governance body.

Trademarks. See TRADEMARK.md in this repository for the full trademark notice.

Changes to this notice. Woodfine may update this notice from time to time; the version posted on this page governs.

Not a filing system. This wiki is not a securities filing system, an electronic disclosure repository, or a substitute for SEDAR+ or any other regulatory filing system. Formal securities filings are made through the applicable regulatory filing system, not through this wiki.

Full disclaimer. This notice supplements, and does not replace, the full Disclaimers article. In the event of any conflict, the full Disclaimers article governs.

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