Company: TMCWW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001104659-25-111264
Chunk: 14

Company: TMC the metals Co Inc.
Filing Date: 2025-11-13
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​    ​    September 30,     December 31, ASSETS   Note   2025   2024Current​​​ ​ ​  Cash​​​$ 115,648 $ 3,480Receivables and prepayments​​​  1,566 ​ 1,851​​​​  117,214 ​ 5,331Non-current​​​ ​ ​​Exploration assets ​​  42,951 ​ 42,951Equipment​​​  597 ​ 771Software development costs​​​​ 2,082​​ 1,928Right-of-use asset​6​​ 2,384​​ 3,814Investment​7​​ 10,387​​ 8,203​​​​  58,401 ​ 57,667​​​​​​​​​TOTAL ASSETS​​​$ 175,615 $ 62,998​​​​​​​​​LIABILITIES​​​ ​ ​​Current​​​ ​ ​​Accounts payable and accrued liabilities 10​  46,834 ​ 42,754Short-term debt​6,16​​ —​​ 11,775​​​​  46,834 ​ 54,529Non-current​​​ ​ ​​Deferred tax liability ​​  10,675 ​ 10,675Royalty liability​7​​ 145,000​​ 14,000Warrants liability 13​  13,730 ​ 912​​​​​ 169,405​​ 25,587​​​​​​​​​TOTAL LIABILITIES​​​$ 216,239 $ 80,116​​​​​​​​​EQUITY​​​ ​ ​​Common shares (unlimited shares, no par value – issued: 408,855,173 (December 31, 2024 –340,708,460)) ​​  638,853 ​ 477,217Additional paid in capital​​​  232,607 ​ 138,303Accumulated other comprehensive loss​​​  (1,203) ​ (1,203)Deficit​​​  (910,881) ​