Consolidated financial statements of - Amazon S3

Consolidated financial statements of

The Hydropothecary Corporation

for the years ended July 31, 2017 and 2016 (Expressed in Canadian dollars, unless otherwise noted)

Independent Auditors' Report

To the Shareholders of The Hydropothecary Corporation:

We have audited the accompanying consolidated financial statements of The Hydropothecary Corporation, which comprise the consolidated statement of financial position as at July 31, 2017, and the consolidated statements of comprehensive loss, changes in shareholders' equity and cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Consolidated Financial Statements Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with International Financial Reporting Standards, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditors' Responsibility Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We conducted our audits in accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditors' judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements.

We believe that the audit evidence we have obtained in our audits is sufficient and appropriate to provide a basis for our audit opinion.

Opinion In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of The Hydropothecary Corporation as at July 31, 2017, and its financial performance and its cash flows for the year then ended in accordance with International Financial Reporting Standards.

Other Matter

Without modifying our opinion, we draw attention to effects of the adjustments to retrospectively apply the change in accounting discussed in Notes 1 and 4 to the consolidated financial statements which indicates that the comparative information presented as at and for the year ended July 31, 2016, has been adjusted.

The consolidated financial statements of The Hydropothecary Corporation as at July 31, 2016, before the effects of the adjustments to retrospectively apply the change in accounting discussed in Notes 1 and 4 to the consolidated financial statements, were audited by other auditors whose report dated November 18, 2016, expressed an unqualified opinion on those statements.

As part of our audit of the consolidated financial statements as at and for the year ended July 31, 2017, we audited the adjustments described in Notes 1 and 4 to the consolidated financial statements that were applied to adjust the comparative information presented as at and for the year ended July 31, 2016.

We were not engaged to audit, review, or apply any procedures to the July 31, 2016, consolidated financial statements other than with respect to the adjustment described in Notes 1 and 4 to the consolidated financial statements. Accordingly, we do not express an opinion or any other form of assurance on those financial statements taken as a whole.

Toronto, Ontario November 1, 2017

Chartered Professional Accountants Licensed Public Accountants

Deloitte LLP 1600 ? 100 Queen Street Ottawa ON K1P 5T8 Canada

Tel: 613-236-2442 Fax.: 613-236-2195

deloitte.ca

Independent Auditor's Report

To the Shareholders of The Hydropothecary Corporation

We have audited, before the effects of the adjustments to retrospectively apply the change in accounting discussed in Notes 1 and 4 to the consolidated financial statements, the accompanying consolidated financial statements of The Hydropothecary Corporation, which comprise the consolidated statement of financial position as at July 31, 2016, and the consolidated statement of comprehensive loss, the consolidated statement of changes in shareholders' equity and the consolidated statement of cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information (the 2016 consolidated financial statements before the effects of the adjustments discussed in Notes 1 and 4 to the consolidated financial statement are not presented herein).

Management's Responsibility for the Consolidated Financial Statements

Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with International Financial Reporting Standards, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We conducted our audit in accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion In our opinion, the consolidated financial statements, before the effects of the adjustments to retrospectively apply the change in accounting discussed in Notes 1 and 4 to the consolidated financial statements, present fairly, in all material respects, the financial position of The Hydropothecary Corporation as at July 31, 2016 and its financial performance and its cash flows for the year then ended in accordance with International Financial Reporting Standards.

s/Deloitte LLP

Chartered Professional Accountants Licensed Public Accountants November 18, 2016

2

The Hydropothecary Corporation

Table of contents

Consolidated statements of comprehensive loss.................................................................................................. 1 Consolidated statements of financial position ....................................................................................................... 2 Consolidated statements of changes in shareholders' equity ............................................................................... 3 Consolidated statements of cash flows................................................................................................................. 4 Notes to the consolidated financial statements ................................................................................................ 5-33

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