Company: AVCRF
Filing Date: 2025-06-16
Form Type: 20-F
Source: 0001641172-25-015266
Chunk: 66

Company: Avricore Health Inc.
Filing Date: 2025-06-16
Form: 20-F
Item: Item 19
Chunk 66
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 dependent on revenues
and other financing sources which are subject to uncertainty. The Company has historically experienced operating losses and negative
operating cash flows. As at December 31, 2024, the Company has an accumulated deficit of $ 32,404,537 1,252,139

The
continuation of the Company as a going concern is dependent upon its ability to generate revenue from its operations and/or raise additional
financing to cover ongoing cash requirements. The consolidated financial statements do not reflect any adjustments, which could be material,
to the carrying values of assets and liabilities, which may be required should the Company be unable to continue as a going concern.

  BASIS            
  OF PRESENTATION  
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  Statement      
  of compliance  
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The
consolidated financial statements for the years ended December 31, 2024 and 2023 have been prepared in accordance with IFRS Accounting
Standards as issued by the International Accounting Standards Board (“ IASB”).

  Basis           
  of preparation  
 ──────────────────

The
consolidated financial statements of the Company have been prepared on an accrual basis and are based on historical costs, modified where
applicable. The material accounting policies are presented in Note 3 of the annual consolidated financial statements for the year ended
December 31, 2024 and have been consistently applied in each of the periods presented. The consolidated financial statements are presented
in Canadian dollars, which is the presentation and functional currency of the Company. The functional currency of HealthTab Ltd. is the
UK pound sterling.

The
preparation of consolidated financial statements in accordance with IFRS requires the Company’s management to make estimates, judgments
and assumptions that affect amounts reported in the consolidated financial statements and accompanying notes. The areas involving a higher
degree of judgment and complexity, or areas where assumptions and estimates are significant to the consolidated financial statements
are disclosed below. Actual results might differ from these estimates. The Company’s management reviews these estimates and underlying
judgments on an ongoing basis, based on experience and other factors, including expectations of future events that are believed to be
reasonable under the circumstances. Revisions to estimates are adjusted for prospectively in the year in which the estimates are revised.

Avricore
Health Inc.

Notes
to the Consolidated Financial Statements

For
the years ended December 31, 2024, 2023 and 2022

(Expressed
in Canadian