• Thermal Energy International audit report covered fiscal 2026 financial statements for the year ended May 31, 2026, issued by Welch LLP.
• Auditor delivered an unmodified opinion, concluding the consolidated financial statements present fairly under IFRS.
• Key audit matter focused on revenue recognition for fixed-price heat recovery projects, including management’s estimates of costs to complete.
• Welch highlighted estimation uncertainty in future labor, subcontractor, materials assumptions, which can shift the timing and amount of revenue recognized.
• Prior-year audit was performed by another auditor, which issued an unmodified opinion dated Sept. 22, 2025.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Thermal Energy International Inc. published the original content used to generate this news brief on September 22, 2026, and is solely responsible for the information contained therein.