New Horizon Aircraft Ltd. (HOVRW) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
3187 HIGHWAY 35 LINDSAY, ON K9V 4R1 |
| State of Incorp. | BC |
| Fiscal Year End | May 31 |
| Industry (SIC) | 3721 - Aircraft (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) (USD)
| 2/28/2025 MRQ | 11/30/2024 MRQ | 5/31/2024 | 12/31/2023 | 12/31/2022 | |||
|---|---|---|---|---|---|---|---|
| ASSETS | |||||||
| Current Assets | |||||||
| Cash, cash equivalents, and short-term investments | 1,816,000 | 16,138 | 88,277 | ||||
| Cash and cash equivalent | 1,816,000 | 16,138 | 88,277 | ||||
| Receivables | 23,000 | 417,000 | |||||
| Prepaid expense | 851,000 | 2,431,000 | 71,081 | 1,372 | |||
| Other undisclosed current assets | 887,000 | 34,552 | |||||
| Total current assets: | 1,761,000 | 4,664,000 | 121,771 | 89,649 | |||
| Noncurrent Assets | |||||||
| Operating lease, right-of-use asset | 50,000 | 75,000 | |||||
| Property, plant and equipment | 151,000 | 205,000 | |||||
| Asset, held-in-trust | 121,961,421 | ||||||
| Deferred costs | 368,802 | ||||||
| Total noncurrent assets: | 201,000 | 280,000 | 121,961,421 | 368,802 | |||
| TOTAL ASSETS: | 1,962,000 | 4,944,000 | 122,083,192 | 458,451 | |||
| LIABILITIES AND EQUITY | |||||||
| Liabilities | |||||||
| Current Liabilities | |||||||
| Accounts payable and accrued liabilities | 610,000 | 1,289,000 | 731,158 | 142,138 | |||
| Accounts payable | 374,000 | 715,000 | 685,018 | ||||
| Accrued liabilities | 236,000 | 574,000 | 46,140 | 142,138 | |||
| Due to related parties | ✕ | ✕ | ✕ | ✕ | 300,000 | ||
| Other undisclosed current liabilities | 29,000 | 44,000 | 255,000 | ||||
| Total current liabilities: | 639,000 | 1,333,000 | 986,158 | 442,138 | |||
| Noncurrent Liabilities | |||||||
| Liabilities, other than long-term debt | 19,000 | 30,000 | 2,650,000 | ||||
| Operating lease, liability | 19,000 | 30,000 | |||||
| Derivative instruments and hedges, liabilities | 2,650,000 | ||||||
| Other undisclosed noncurrent liabilities | 3,657,000 | 21,514,000 | 3,450,000 | ||||
| Total noncurrent liabilities: | 3,676,000 | 21,544,000 | 6,100,000 | ||||
| Total liabilities: | 4,315,000 | 22,877,000 | 7,086,158 | 442,138 | |||
| Temporary equity, including noncontrolling interest | 121,861,421 | ||||||
| Equity | |||||||
| Equity, attributable to parent, including: | (2,353,000) | (17,933,000) | (6,864,387) | 16,313 | |||
| Preferred stock | |||||||
| Common stock | 78,307,000 | 74,406,000 | |||||
| Additional paid in capital | (82,730,000) | (77,656,000) | 24,712 | ||||
| Retained earnings (accumulated deficit) | 2,070,000 | (14,683,000) | (6,864,948) | (8,687) | |||
| Warrants and rights outstanding | |||||||
| Other undisclosed equity, attributable to parent | 561 | 288 | |||||
| Total equity: | (2,353,000) | (17,933,000) | (6,864,387) | 16,313 | |||
| TOTAL LIABILITIES AND EQUITY: | 1,962,000 | 4,944,000 | 122,083,192 | 458,451 | |||
Income Statement (P&L) (USD)
| 2/28/2025 TTM | 11/30/2024 TTM | 5/31/2024 | 12/31/2023 | 12/31/2022 | ||
|---|---|---|---|---|---|---|
| Gross profit: | (510,000) | |||||
| Operating expenses | (9,398,000) | (4,624,000) | (1,666,371) | |||
| Other undisclosed operating income | 510,000 | |||||
| Operating loss: | (9,398,000) | (4,624,000) | (1,666,371) | |||
| Nonoperating income (expense) | 19,148,000 | (3,536,000) | 11,376,421 | |||
| Investment income, nonoperating | (6,000) | 5,216,421 | ||||
| Gain on contract termination | 21,400,000 | |||||
| Other nonoperating income | 18,000 | 575,000 | ||||
| Interest and debt expense | (15,000) | (15,000) | ||||
| Income (loss) from continuing operations before equity method investments, income taxes: | 9,735,000 | (8,175,000) | 9,710,050 | |||
| Other undisclosed income from continuing operations before income taxes | 15,000 | 15,000 | ||||
| Income (loss) from continuing operations before income taxes: | 9,750,000 | (8,160,000) | 9,710,050 | |||
| Income tax expense | (1,095,448) | |||||
| Net income (loss) available to common stockholders, basic: | 9,750,000 | (8,160,000) | 8,614,602 | |||
| Other undisclosed net loss available to common stockholders, diluted | (54,000) | |||||
| Net income (loss) available to common stockholders, diluted: | 9,696,000 | (8,160,000) | 8,614,602 | |||
Comprehensive Income (USD)
| 2/28/2025 TTM | 11/30/2024 TTM | 5/31/2024 | 12/31/2023 | 12/31/2022 | ||
|---|---|---|---|---|---|---|
| Net income (loss): | 9,750,000 | (8,160,000) | 8,614,602 | |||
| Comprehensive income (loss), net of tax, attributable to parent: | 9,750,000 | (8,160,000) | 8,614,602 | |||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.