Slide 1: Consolidated statements of earnings and retained earnings
Consolidated statements of earnings and retained earnings Periods ended September 30, 2023 and 2022
Slide 2: Consolidated statements of cash flows
Consolidated statements of cash flows Periods ended September 30, 2023 and 2022
Slide 3: Notes to the consolidated financial statements
Notes to the consolidated financial statements September 30, 2023 and 2022 Variperm Holdings Ltd. (the "Company") was established as a Canadian corporation incorporated under the Business Corporations Act of Alberta on January 20, 2014. The Company, through its wholly owned subsidiaries, Variperm En
Slide 4: Inventory: direct materials and work in progress
September 30, December 31, 2023 2022 $ $ Direct materials 17,868,607 18,603,716 Work in progress 455,958 573,199 18,324,565 19,176,915
Slide 5: Notes: Property and equipment (continued)
Notes to the consolidated financial statements September 30, 2023 and 2022 4. Property and equipment (continued)
Slide 6: Assets under construction; Intangible assets
Assets under construction include equipment purchased but not yet installed or put into operation at period end. 5. Intangible assets
Slide 7: Dividends and stock option plan
Any distributions, either by way of dividend or return of capital, are recorded when declared and approved by the Board of Directors. During the 2023 period, a dividend of $2,872,430 ($nil in 2022) was paid on the class A common shares. The Company has established a stock option plan for directors,
Slide 8: Stock awards; Commitments and contingencies
On September 1, 2021 the Company granted two employees stock awards. A total of 17,500 Class C common shares were awarded to these employees, which will vest over four years. On each anniversary of the agreement, providing that the employees still work for the Company, 4,375 shares will be issued. D
Slide 9: Reconciliation of shareholders' equity under ASPE to U.S. GAAP
Reconciliation of shareholders’ equity under ASPE to U.S. GAAP
Slide 10: Operating leases
Operating leases In these consolidated financial statements, lease rentals related to operating leases were recognized in net earnings over the lease term on a straight-line basis. No assets or liabilities were recognized on the balance sheet. Under U.S. GAAP, assets and liabilities are recognized o