The hard questions, answered first.

The audited and interim statements carry a note that the Company needs volume or capital to fund its plan, which is common for Venture-listed companies at OCAL's stage. The July 2026 financing raised $1.5 million. Management's plan assumes growth capital in fiscal 2027; no terms have been set, and nothing on this site is an offer of securities. The operating metrics are published every period so that progress towards profitability is visible. Cash at each reporting date is in the filed statements; OCAL does not publish cash between reporting dates. (Answer dated 4 November 2026.)

$6.48 million, audited. Other figures circulated before the audit was complete. Everything OCAL writes uses the audited figure.

More than 3,000 vehicles are visible on OPENLANE's Canadian marketplace on a typical day. OCAL owns none of them. OPENLANE is OCAL's auction and sourcing channel; a vehicle is bought only after a specific customer is approved, and it is on OCAL's books for three to five days before delivery. Zero standing inventory means no car is bought before its buyer is approved.

Because a vehicle bought against an approved customer sits on the balance sheet for the few days between purchase and delivery, and the purchase line that funds it for those days shows as a floorplan facility. At every reporting date those balances are days of vehicles, not months. Nothing is bought on speculation, and no vehicle is held waiting for a buyer.

Retail vehicle sales are about 87 percent of revenue ($5,630,980 of $6,480,254 in fiscal 2025); finance, insurance and other income is the rest. The vehicle sale carries the top line at a modest margin, and the finance and protection layer carries most of the gross profit, which is why gross profit per vehicle is the metric to watch.

No. OCAL is the licensed motor dealer of record on every transaction: it approves, sources, contracts, delivers and takes the trade-in. A broker hands a customer to a lender or a dealer and steps away. What OCAL does not do is park cars on a lot and pay interest on them.

OPENLANE, the largest wholesale marketplace in Canada and OCAL's auction and sourcing channel, with partner dealers and trade-ins behind it. OCAL's own representatives are at the auction sites to review units and run the bidding.

Days. It is bought against an approved customer and delivered after reconditioning and inspection. It is never bought on speculation.

Because retail vehicle sales carry the top line at a deliberately modest margin, and the margin per deal sits in the layer on top: lender reserve, protection products and fees. That layer is what the operating metrics report as gross profit per vehicle. Gross margin expanded from 11.2 percent in fiscal 2024 to 12.5 percent in fiscal 2025, audited, and 87 percent of fiscal 2025 gross profit came from finance, insurance and protection products.

The cost base is largely fixed: licences, people, systems and an office that do not grow with the count; commissions and other variable costs are additional. In fiscal 2025 revenue rose 18.8 percent and gross profit 32.7 percent while operating expenses fell 9.8 percent, and the operating loss halved. As volume increases, the Company has the potential to spread its fixed costs across more vehicle sales, and management is working towards profitability through volume. OCAL does not publish a profitability target, a date or financial guidance; Manitoba and Ontario are the volume markets, and the monthly results release shows the actual count.

Seven lenders are live on OCAL's submission portal, prime to non-prime: RBC, Santander, iA Auto Finance, Eden Park, LendCare, Rifco and Iceberg. No single lender is the business; routing each file to the right one is.

The lender. OCAL originates the contract and holds none of the paper. From the Company's first funded transaction in 2021 to 30 September 2026, about 99 percent of signed customer contracts were funded by lenders, and fewer than one percent of the vehicle loans arranged through the platform have resulted in repossession (management information, based on lender reporting).

Only for the three to five days between buying one against an approved customer and delivering it. OCAL does not buy vehicles first and look for buyers second, does not run reconditioning plants, and does not lend the money or hold the loans. It earns the margin on the transaction without holding the paper or the inventory.

Answering every lead in seconds so none go cold, packaging the credit file the way each lender wants it, routing it to the lender most likely to fund it, and showing management every desk and every deal in the Showroom. The result is more funded vehicles per employee.

Lead generation, the CRM and the AI sales agents now run on one platform, with an AI agent answering every lead in seconds. The Company expects its acquisition cost per funded deal to fall as a result, and will report it when a results release carries it.

Both. A prime customer gets a prime rate from a bank on the panel; a near-prime or non-prime customer gets a finance-company loan. The market the big banks left behind is large, but it is not OCAL's whole customer base.

To fund a national roll-out of a model that already works, and to have a listed currency for acquisitions and for recruiting. Public gave OCAL a currency and a window that private never could.

It was a qualifying transaction with a capital pool company, Ronin Ventures Corp., not an underwritten IPO. The July 2026 financing was a private placement of 6,029,500 units at $0.25 for gross proceeds of $1,507,375.

No. The founders hold about 54 percent, escrowed under exchange policy for 36 months, and have not sold a share. Insider trades are reported on SEDI within five days.

Escrow and blackout rules limit insider purchases around results and material events. Any purchases are reported on SEDI within five days and summarized on the Governance page.

About 11 million warrants, the bulk of them 6.0 million at $0.50 expiring July 2028. The full table, with exercise prices and expiry dates, is on the Stock page.

The escrow schedule is on the Stock page: 15 percent of the principals' shares every six months from January 2027. The 6.03 million shares from the July 2026 financing become free trading on 8 November 2026.

Yes, on the TSX Venture Exchange through most US brokers, and in Frankfurt as JC3.

No analyst covers OCAL at this date; we will list every analyst here when one does. Integral Wealth Securities Limited provides market making under an agreement announced on 6 August 2026, at $6,000 a month and no securities compensation. Signal Capital Advisors provides investor relations under an agreement announced on 29 August 2026.

No, never, in any forum. We publish the operating metrics and the audited statements and let investors do the arithmetic.

The dealer permit application is under way with the regulator, with an office inside the OPENLANE Winnipeg auction facility arranged. Opening is targeted for December 2026, when the permit is granted; regulators set the timing, and OCAL does not announce a permit before it is granted. A Manitoba permit also serves Saskatchewan and northwestern Ontario customers.

Registration is under way, targeted for 2027, subject to registration and capital. Ontario is about 40 percent of Canadian vehicle transactions.

After Ontario, the Maritimes, each market a copy of the first: a licence, a bond, a small office and a local team. Everything is subject to licensing, lenders and capital.

On the roadmap from 2028, after the Canadian roll-out. Everything is subject to licensing, lenders and capital.

Management's plan assumes growth capital in fiscal 2027 to fund Manitoba, Ontario and the provinces that follow. No terms have been set, and nothing on this site is an offer of securities.

No. OCAL publishes its audited statements, the operating metrics every period under fixed definitions, and the roadmap of markets with the status of each. Plan figures and targets are not published on this site.

Management is building a national, licensed, approval-first platform to run it. OCAL does not comment on valuation or on any transaction.

The first monthly results release on 10 November 2026; the annual general and special meeting on 10 December 2026; audited fiscal 2026 results by 29 December 2026; the Manitoba permit when granted; Ontario registration; and the first quarter of fiscal 2027 by 29 January 2027.