Company: AVCRF
Filing Date: 2025-06-16
Form Type: 20-F
Source: 0001641172-25-015266
Chunk: 15

Company: Avricore Health Inc.
Filing Date: 2025-06-16
Form: 20-F
Item: Item 5
Chunk 15
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ITEM
5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS

The
following discussion and analysis of the financial condition and operational performance should be read in conjunction with the audited
consolidated financial statements of the Company and the notes thereto prepared in accordance with IFRS.

5.
A. Operating Results of the Company

Overview

In
the last several years, the Company’s primary focus was on expanding its HealthTab™ point-of-care testing platform in pharmacies
across Canada, the United Kingdom and beyond.

The
most recent financials demonstrated that fiscal 2024 saw a year-over-year 37% increase in revenues and the Company has maintained strong
fiscal discipline, maintaining a moderate operating cost model, conserving cash, and limiting exposure to further equity dilution while
executing on the build out of HealthTab™.

Management’s
focus is on expansion of the business to new markets, locations and jurisdictions; cost control and positive cash flows to ensure sustainable
operations of the Company.

  16  

Results
of Operations for the years ended December 31, 2024, 2023 and 2022

Revenue
from the continuing operations was $4,785,711 for the year ended December 31, 2024 (2023 - $3,485,147; 2022 - $1,768,374). This represents
the revenue earned by the POTC HealthTab™ business acquired in 2018.

Marketing
and Communication expenses

                                  Year ended                         Year ended                          Year ended                      
                                                                                                                                         
                                  December 31, 2024                  December 31, 2023                   December 31, 2022               
                                  $                                  $                                   $                               
  Marketing                                              -                                  -                                   -        
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Shareholder communications                             49,932                             112,234                             173,035  
                                                         49,932                             112,234                             173,035  

General
and Administrative expenses

                                           Year ended             Year ended             Year ended  
                                    December 31, 2024      December 31, 2023      December 31, 2022  
                                                    $                      $                      $  
 ─────────────────────────────────────────────────────────────────────────────────────────────────────
  Bank service charges                         10,347                  6,008                  5,421  
  Filing and registration fees                 55,