INVESTMENTS

12 Months Ended

Dec. 31, 2025

Equity Method Investments and Joint Ventures [Abstract]

INVESTMENTS

9. INVESTMENTS

The Company’s investments at December 31, 2025 and 2024 consisted of the following:

	2025		2024
Investments, at cost:
Lygos Inc., simple agreement for future equity (“SAFE”) agreement	$	-	$	1,000,000
Trio Opportunity Corp., 47,000 non-voting Class B shares (2024 – 97,000 non-voting Class B shares)		470,000		970,000
Investment, equity method:
Florida-based LLC		1,584,324		1,454,381
Total	$	2,054,324	$	3,424,381

In 2020, the Company invested $500,000 in Lygos Inc. (“Lygos”), a privately held entity, under a Simple Agreement for Future Equity (“SAFE”) agreement. Lygos is a company developing a sustainable aspartic acid microbe strain. In 2021, the Company made a second SAFE investment of $500,000 for a total of $1,000,000. In 2025, the investment was deemed impaired by the Company’s management and the loss is shown in the consolidated statements of income and comprehensive income.

In September 2025, the Company received a return of $500,000 on its initial investment of 50,000 Class B shares of Trio Opportunity Corp. The Company still holds 47,000 Class B shares.

In January 2019, the Company invested in a Florida based LLC that is engaged in international sales of fertilizer additives. According to the operating agreement, the Company had a 50% interest in the profit and loss of the Florida based LLC but did not have control. In August 2024, the Company sold a 30.1% interest in the Florida based LLC to a third party for consideration of $2,000,000. In addition, the Company entered into a subsequent agreement for the sale of its remaining 19.9% interest over the next five years for an additional $4,000,000. Starting in 2025, the Company will sell a further 3.98% per year upon receipt of that year’s $800,000 payment. In December 2025, the purchaser advised that there would be a delay in funding the 2025 tranche and that they would pay the $100,000 penalty in January 2026, which has been received. At December 31, 2025, the Company continues to account for this investment using the equity investment as it exercises significant influence. 

A summary of the activity associated with the Company’s investment in the Florida based LLC during the years ended December 31, 2025 and 2024 is follows:

Balance, December 31, 2023 – 50% interest	$	4,063,960
Company’s proportionate share of earnings		244,857
Distribution received		(510,710	)
Basis of 30.1% of interest sold		(2,343,726	)
Balance, December 31, 2024 – 19.9% interest		1,454,381
Company’s proportionate share of earnings		129,943
Balance, December 31, 2025 – 19.9% interest	$	1,584,324

Summarized profit and loss information related to the Florida based LLC is as follows:

	2025		2024
Net sales	$	10,834,359	$	13,046,436
Gross profit	$	3,347,716	$	3,434,533
Net income	$	652,982	$	455,241

During the year ended December 31, 2025, the Company had sales of $6,169,277 (2024 - $8,235,394) to the Florida based LLC, of which $980,638 is included within Accounts Receivable as at December 31, 2025 (2024 - $1,866,645).