Company: TMCWW
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001410578-25-001269
Chunk: 12

Company: TMC the metals Co Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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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​    ​    March 31,     December 31, ASSETS   Note   2025   2024Current​​​ ​ ​  Cash​​​$ 2,346 $ 3,480Receivables and prepayments​​​  5,012 ​ 1,851​​​​  7,358 ​ 5,331Non-current​​​ ​ ​​Exploration assets ​​  42,951 ​ 42,951Equipment​​​  713 ​ 771Software development costs​​​​ 1,958​​ 1,928Right-of-use asset​6​​ 3,337​​ 3,814Investment​7​​ 8,168​​ 8,203​​​​  57,127 ​ 57,667​​​​​​​​​TOTAL ASSETS​​​$ 64,485 $ 62,998​​​​​​​​​LIABILITIES​​​ ​ ​​Current​​​ ​ ​​Accounts payable and accrued liabilities 9​  45,245 ​ 42,754Short-term debt​6,15​​ 9,978​​ 11,775​​​​  55,223 ​ 54,529Non-current​​​ ​ ​​Deferred tax liability ​​  10,675 ​ 10,675Royalty liability​7​​ 14,000​​ 14,000Warrants liability 12​  1,353 ​ 912​​​​​ 26,028​​ 25,587​​​​​​​​​TOTAL LIABILITIES​​​$ 81,251 $ 80,116​​​​​​​​​EQUITY​​​ ​ ​​Common shares (unlimited shares, no par value – issued: 356,617,022 (December 31, 2024 – 340,708,460)) ​​  495,804 ​ 477,217Special Shares​​​​ —​​ —Additional paid in capital​​​  140,656 ​ 138,303Accumulated other comprehensive loss​​​  (1,203) ​ (1,203)Def