Findev Inc. Corrects Financial Disclosures Post OSC Review

Findev Inc., a real estate finance company, has issued a corrective disclosure following a review by the Ontario Securities Commission. The corrections pertain to its interim financial statements for 2025 involving a significant loan modification loss related to their Victoria project.

The loss, which amounted to $1,594,190, emerged in the first quarter due to a loan modification and was amortized over the year. While this adjustment did not impact the annual results, it significantly affected the interim financial outcomes.

The company also faced enhanced credit risk due to its approval of additional senior debt for the project, impacting its interim results negatively. Findev is now prioritizing improving its disclosure controls to ensure more accurate future reporting.