Company: DSNY
Filing Date: 2025-11-24
Form Type: 10-K
Source: 0001062993-25-016994
Chunk: 185

Company: DESTINY MEDIA TECHNOLOGIES INC
Filing Date: 2025-11-24
Form: 10-K
Item: Item 5
Chunk 185
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 not be recoverable, we recognize such impairment in the event the carrying amount of such assets exceeds the future undiscounted cash flows attributable to such assets. Intangible assets that are not subject to amortization are tested for impairment annually and more frequently if events or changes in circumstances indicate that it is more likely than not that the asset is impaired.  We have not recorded any impairment losses to date.

New Accounting Pronouncements

See Note 2 to the Financial Statements included in Item 8 of this Annual Report.

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. 

Foreign Exchange Risk

Our revenues are denominated primarily in United States dollars, Australian dollars and Euros while our operating expenses are incurred primarily in Canadian dollars. Thus, operating expenses and the results of operations are impacted, to the extent they are not hedged, by the rise and fall of the relative values of the Canadian dollar to these currencies. We do not believe aggregated foreign exchange fluctuations in the Euro, and the Australian, Canadian, and US dollars have had a material effect on our results of operations during the years presented.

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ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

                    DESTINY MEDIA TECHNOLOGIES, INC.

                    INDEX TO FINANCIAL STATEMENTS

                    Report of Independent Registered Public Accounting Firm (PCAOB ID No. 731)
                    20

                    Consolidated Balance Sheets as of August 31, 2025 and 2024
                    22

                    Consolidated Statements of Comprehensive Income (Loss) for the years ended August 31, 2025 and 2024
                    23

                    Consolidated Statements of Stockholders' Equity for the years ended August 31, 2025 and 2024
                    24

                    Consolidated Statements of Cash Flows for the years ended August 31, 2025 and 2024
                    25

                    Notes to Consolidated Financial Statements for the years ended August 31, 2025 and 2024
                    26

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Report of Independent Registered Public Accounting Firm

To the Shareholders and Directors of

Destiny Media Technologies Inc.

Opinion on the Consolidated Financial Statements

We have audited the accompanying consolidated balance sheet of Destiny Media Technologies Inc. (the "Company"), as of August 31, 2025, and the related consolidated statements of comprehensive income (loss), stockholders' equity, and cash