Property, plant and equipment

12 Months Ended

Jun. 30, 2025

Notes and other explanatory information [abstract]

Property, plant and equipment

7. Property, plant and equipment:

	Computer equipment			Furniture and equipment			Vehicle		IPP facilities			Total
Cost:
Balance, June 30, 2024	$	19		$	57		$	36	$	3,578		$	3,690
Additions from acquisition (note 19)		-			-			-		34,772			34,772
Dispositions		(19	)		(50	)		-		(79	)		(148	)
Foreign currency impact		-			-			-		(2	)		(2	)
Balance, June 30, 2025	$	-		$	7		$	36	$	38,269			38,312
Accumulated depreciation:
Balance, June 30, 2024	$	16		$	45		$	4	$	170		$	235
Dispositions		(16	)		(39	)		-		-			(55	)
Depreciation		-			1			6		2,781			2,788
Impairment (note 25)		-			-			-		837			837
Foreign currency impact		-			-			-		-			-
Balance, June 30, 2025	$	-		$	7		$	10		3,788			3,805
Net Book Value- June 30, 2025	$	-		$	-		$	26	$	34,481		$	34,507

		Computer equipment		Furniture and equipment		Vehicle		IPP facilities			Total
Cost:
Balance, June 30, 2023	$	19	$	50	$	-	$	937		$	1,006
Additions from acquisition (note 19)		-		-		-		3,100			3,100
Additions		-		7		36		-			43
Reclassification to tax equity asset (note 17)		-		-		-		(475	)		(475	)
Foreign currency impact		-		-		-		16			16
Balance, June 30, 2024	$	19	$	57	$	36	$	3,578		$	3,690
Accumulated depreciation:
Balance, June 30, 2023	$	14	$	43	$	-	$	-		$	57
Depreciation		2		2		4		170			178
Balance, June 30, 2024	$	16	$	45	$	4	$	170		$	235
Net Book Value- June 30, 2024	$	3	$	12	$	32	$	3,408		$	3,455

Total depreciation expense of $2,781 for IPP facilities are recorded in cost of goods sold for the year ended June 30, 2025 (June 30, 2024 - $170). The remaining $7 depreciation expense for the year ended June 30, 2025 is recorded as operating expenses (June 30, 2024 - $8).

POWERBANK CORPORATION

(FORMERLY SOLARBANK CORPORATION)

Notes to Consolidated Financial Statements

(Expressed in thousands of Canadian dollars, except per share amounts and as otherwise indicated)

For the years ended June 30, 2025 and 2024