Company: MMTIF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001062993-25-003888
Chunk: 74

Company: MICROMEM TECHNOLOGIES INC
Filing Date: 2025-02-28
Form: 20-F
Item: Item 18
Chunk 74
---
 $            12,680  
  Repayment penalties paid on convertible-debt (classified in operating activites)         11      $                        63,263      $                 -      $                 -  
  Interest paid on non-convertible debt (classified in operating activities)                8      $                         9,081      $             9,170      $             9,604  
  Interest on lease liability (classified in operating activities)                         10      $                         1,820      $             3,323      $             3,629  
  Cash share issuance costs (classified in operating activities)                           13      $                        13,326      $                 -      $                 -  
  Carrying amount of convertible debentures converted into common shares                   18      $                       716,674      $         1,742,226      $           764,432  
  Shares issued on settlement of accounts payable                                          13      $                        29,687      $                 -      $            22,460  
  ROU asset and lease liability recognized                                                 10      $                             -      $                 -      $            48,408  

The accompanying notes are an integral part of these consolidated financial statements.

F-7

Micromem Technologies Inc.

Notes to Consolidated Financial Statements

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

(Expressed in United States dollars, unless otherwise noted)

1. Reporting entity and nature of business
Micromem Technologies Inc. ("Micromem" or the "Company") is incorporated under the laws of the Province of Ontario, Canada. Micromem is a publicly traded company with its head office located at 121 Richmond Street West, Suite 602, Toronto, Ontario, Canada. The Company's common shares are currently listed on the Canadian Securities Exchange under the trading symbol "MRM" and on the Over the Counter Venture Market under the trading symbol "MMTIF".
The Company develops, based upon proprietary technology, customized sensor applications for companies (referred to as "Development Partners") operating internationally in various industry segments. The Company has not generated commercial revenues through October 31, 2024 and is devoting substantially all its efforts to securing commercial revenue opportunities.

2. Going concern
These consolidated financial statements have been prepared with the assumption that the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future