Company: TMCWW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001410578-25-001821
Chunk: 14

Company: TMC the metals Co Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1F
Chunk 14
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Item 1.Financial Statements

TMC the metals company Inc.

Condensed Consolidated Balance Sheets

(in thousands of US Dollars, except share amounts)

(Unaudited)

​​​​​​​​​​​​​As at​As at​    ​    June 30,     December 31, ASSETS   Note   2025   2024Current​​​ ​ ​  Cash​​​$ 115,759 $ 3,480Receivables and prepayments​​​  1,519 ​ 1,851​​​​  117,278 ​ 5,331Non-current​​​ ​ ​​Exploration assets ​​  42,951 ​ 42,951Equipment​​​  655 ​ 771Software development costs​​​​ 2,039​​ 1,928Right-of-use asset​6​​ 2,860​​ 3,814Investment​7​​ 7,911​​ 8,203​​​​  56,416 ​ 57,667​​​​​​​​​TOTAL ASSETS​​​$ 173,694 $ 62,998​​​​​​​​​LIABILITIES​​​ ​ ​​Current​​​ ​ ​​Accounts payable and accrued liabilities 9​  47,099 ​ 42,754Short-term debt​6,15​​ 2,478​​ 11,775​​​​  49,577 ​ 54,529Non-current​​​ ​ ​​Deferred tax liability ​​  10,675 ​ 10,675Royalty liability​7​​ 14,000​​ 14,000Warrants liability 12​  17,582 ​ 912​​​​​ 42,257​​ 25,587​​​​​​​​​TOTAL LIABILITIES​​​$ 91,834 $ 80,116​​​​​​​​​EQUITY​​​ ​ ​​Common shares (unlimited shares, no par value – issued: 397,155,318 (December 31, 2024 –340,708,460)) ​​  606,246 ​ 477,217Additional paid in capital​​​  203,181 ​ 138,303Accumulated other comprehensive loss​​​  (1,203) ​ (1,203)Deficit​​​  (726,364