Company: DSNY
Filing Date: 2025-04-14
Form Type: 10-Q
Source: 0001062993-25-007398
Chunk: 13

Company: DESTINY MEDIA TECHNOLOGIES INC
Filing Date: 2025-04-14
Form: 10-Q
Item: Part I, Item 2
Chunk 13
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 non-cash increase in amortization costs that grew overall costs by 10.4%.A reduction in salaries and wages reducing overall expenditures by 1.0%. 

For ease of reference the following table has been prepared to present operating results had the Company not capitalized software for the six months ended February 28, 2025 and February 29, 2024.

  Six Months Ended   February 28, 2025  February 29, 2024 Net income for the period$ (183,954)$119,504 Capitalized software under development  (202,704) (280,182)Adjustment to amortization for capitalized software 336,394  206,714 Adjusted net loss for the period$(50,264)$46,036 

17

  Six Months Ended       General and administrative expenses February 28,2025  February 29,2024  $ Change  % Change Wages and benefits$163,270 $164,275  (1,005) (0.6%) Professional fees 260,838  42,430  218,408  514.7% Office and miscellaneous 53,532  48,864  4,668  9.6% Shareholder relations 42,034  55,296  (13,262) (24.0%) Rent 23,132  20,546  2,586  12.6% Foreign exchange gain (32,676) (1,714) (30,962) 1806.4% Telecommunications 2,594  2,733  (139) (5.1%) Bad debt 2,962  (2,010) 4,972  (247.4%) Other 30,533  22,727  7,806  34.3% Total general and administrative expenses$546,219 $353,147  193,072  54.7% 

General and administrative expenses remained consistent with expectations, with a notable increase in professional fees. This increase is due to litigation-related costs.  These costs represent the final stages of this litigation, and the Company expects  a successful outcome. The Company also expects a  cost award that will offset a portion