New Horizon Aircraft (HOVR) 8-K Regulation FD Disclosure

Exhibit 99.1

NEW HORIZON AIRCRAFT LTD.

PROFORMA CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS
AS AT NOVEMBER 30, 2024

EXPRESSED IN CANADIAN DOLLAR 000’S; UNAUDITED

	Form 10-Q as filed November 30, 2024			Pro forma** November 30, 2024
Assets:
Current assets:
Cash and cash equivalents	$	887		$	11,994
Prepaid expenses		851			851
Accounts receivable		23			23
Total current assets		1,761			12,868
Operating lease assets		50			50
Property and equipment, net		151			151
Total Assets	$	1,962		$	13,069
Liabilities and Shareholders’ Equity:
Current liabilities:
Accounts payable	$	374		$	374
Accrued liabilities		236			236
Operating lease liabilities		29			29
Total current liabilities		639			639
Warrant liabilities		3,657			1,855
Operating lease liabilities		19			19
Total Liabilities		4,315			2,513
Shareholders’ Equity:
Common and Preferred Shares		78,307			89,414
Additional paid-in capital		(82,730	)		(80,928	)
Retained Earnings		2,070			2,070
Total Shareholders’ Equity		(2,353	)		10,556
Total Liabilities and Shareholders’ Equity	$	1,962		$	13,069

** These pro-forma figures capture the impact of both the recent $8.4 million financing that closed on December 20, 2024, as well as the 2.5 million warrants exercised between December 1, 2024 and the date of this filing.