Aldebaran Resources Inc.
(the "Company")
INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
FOR THE NINE MONTHS ENDED MARCH 31, 2022
(Expressed in Canadian Dollars)
(Unaudited - Prepared by Management)
NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS
Under National Instrument 51-102, Part 4, subsection 4.3(3) (a), if an auditor has not performed a review of the interim condensed consolidated financial statements, they must be accompanied by a notice indicating that the financial statements have not been reviewed by an auditor.
The accompanying unaudited interim condensed consolidated financial statements of the Company have been prepared by and are the responsibility of the Company's management.
The Company's independent auditor has not performed a review of these interim condensed consolidated financial statements in accordance with standards established by the Chartered Professional Accountants of Canada for a review of interim financial statements by an entity's auditor.
Aldebaran Resources Inc.
Interim Condensed Consolidated Statements of Financial Position (Unaudited - Prepared by Management)
(Expressed in Canadian dollars)
March 31, | June 30, | |||
2022 | 2021 | |||
Assets | ||||
Current Assets | ||||
Cash | $ | 1,833,588 | $ | 7,285,359 |
Receivables | 21,726 | 18,896 | ||
Prepaid expenses | 43,552 | 48,863 | ||
Marketable securities | - | 47,505 | ||
Due from related party (Note 6) | - | 867 | ||
Right of use asset | 10,191 | - | ||
1,909,057 | 7,401,490 | |||
Exploration and evaluation assets (Note 4) | 71,965,066 | 66,617,900 | ||
Total Assets | $ | 73,874,123 | $ | 74,019,390 |
Liabilities and Shareholders' Equity | ||||
Current Liabilities | ||||
Accounts payable and accrued liabilities | $ | 42,092 | $ | 78,320 |
Due to related parties (Note 6) | 43,127 | - | ||
85,219 | 78,320 | |||
Non-Current Liabilities | ||||
Due to related parties (Note 6) | 6,317 | - | ||
Decomissioning liability | 332,847 | 339,809 | ||
Deferred tax liability | 112,000 | 112,000 | ||
536,383 | 530,129 | |||
Shareholders' Equity | ||||
Share capital (Note 5) | 78,951,068 | 78,860,284 | ||
Reserves (Note 5) | 2,427,790 | 2,246,012 | ||
Accumulated other comprehensive loss | (3,207,766) | (3,294,463) | ||
Deficit | (4,833,352) | (4,322,572) | ||
73,337,740 | 73,489,261 | |||
Total Liabilities and Shareholders' Equity | $ | 73,874,123 | $ | 74,019,390 |
Nature and continuance of operations (Note 1)
Commitments (Note 8)
Subsequent events (Note 10)
Approved by the Board of Directors: | ||
"John Black" | "Mark Wayne" | |
Director | Director |
The accompanying notes are an integral part of these interim condensed consolidated financial statements.
Aldebaran Resources Inc.
Interim Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited - Prepared by Management)
(Expressed in Canadian Dollars)
Three months | Three months | Nine months | Nine months | |||||
ended | ended | ended | ended | |||||
March 31, | March 31, | March 31, | March 31, | |||||
2022 | 2021 | 2022 | 2021 | |||||
EXPENSES | ||||||||
Accounting and audit | $ | 28,641 | $ | 25,285 | $ | 125,730 | $ | 126,209 |
Accretion and Amortization | 1,676 | - | 1,676 | 42 | ||||
Consulting (Note 6) | 15,020 | 34,145 | 76,973 | 89,363 | ||||
Insurance | 10,586 | 8,970 | 27,226 | 22,615 | ||||
Interest and bank charges | 7,428 | 7,778 | 37,919 | 23,029 | ||||
Investor relations | 52,967 | 46,551 | 147,476 | 73,825 | ||||
Legal | 3,507 | 5,662 | 11,363 | 9,522 | ||||
Management fees (Note 6) | 89,842 | 90,188 | 269,139 | 275,939 | ||||
Office and administration (Note 6) | 78,431 | 57,533 | 207,059 | 231,352 | ||||
Share-based compensation (Note 5, 6) | 43,002 | 67,985 | 182,780 | 989,093 | ||||
Transfer agent and filing fees | 43,719 | 30,920 | 74,756 | 38,295 | ||||
Travel | 4,599 | 4,270 | 8,364 | 4,270 | ||||
Wages and benefits | 13,153 | 20,843 | 36,992 | 62,026 | ||||
(392,571) | (400,130) | (1,207,453) | (1,945,580) | |||||
OTHER ITEMS | ||||||||
Gain on foreign exchange | 169,060 | 126,195 | 609,262 | 213,918 | ||||
Gain (loss) on disposal of marketable securities | 41,901 | 18,767 | 81,737 | (10,567) | ||||
Interest income | 1,394 | 1,130 | 9,987 | 4,884 | ||||
Write-off of sales taxes | (1,738) | (1,367) | (4,313) | (7,656) | ||||
Loss for the period | $ | (181,954) | $ | (255,405) | $ | (510,780) | $ | (1,745,001) |
Items that will not be reclassified subsequently | ||||||||
to profit and loss: | ||||||||
Translation adjustment | (986,651) | (84,304) | 86,697 | (68,888) | ||||
Comprehensive loss for the period | $(1,168,605) | $ | (339,709) | $ | (424,083) | $ | (1,813,889) | |
Basic and diluted loss per common share | $ | (0.00) | $ | (0.00) | $ | (0.00) | $ | (0.02) |
Weighted average number of common shares | ||||||||
outstanding - basic and diluted | 114,561,625 | 93,635,958 | 114,516,570 | 89,139,609 |
The accompanying notes are an integral part of these interim condensed consolidated financial statements.
Aldebaran Resources Inc.
Interim Condensed Consolidated Statements of Shareholders' Equity (Unaudited - Prepared by Management)
(Expressed in Canadian Dollars)
Accumulated | |||||||||||
Other | |||||||||||
Comprehensive | |||||||||||
Income (Loss) | |||||||||||
Number of | (Translation | ||||||||||
Shares | Share Capital | Reserves | Adjustment) | Deficit | Total | ||||||
Balance, June 30, 2020 | 77,635,959 | $ | 65,019,385 | $ | 1,356,775 | $ | 701,277 | $ | (2,538,798) | $ | 64,538,639 |
Shares issued for cash | 15,999,999 | 4,800,000 | - | - | - | 4,800,000 | |||||
Share issuance costs | - | (106,591) | - | - | - | (106,591) | |||||
Share-based compensation | - | - | 989,093 | - | - | 989,093 | |||||
Foreign exchange adjustment | - | - | - | (68,888) | - | (68,888) | |||||
Loss for the period | - | - | - | - | (1,745,001) | (1,745,001) | |||||
Balance, March 31, 2021 | 93,635,958 | $ | 69,712,794 | $ | 2,345,868 | $ | 632,389 | $ | (4,283,799) | $ | 68,407,252 |
Balance, June 30, 2021 | 114,494,531 | $ | 78,860,284 | $ | 2,246,012 | $ | (3,294,463) | $ | (4,322,572) | $ | 73,489,261 |
Exercise of warrants | 122,500 | 85,750 | - | - | - | 85,750 | |||||
Exercise of broker's warrants | 5,760 | 5,034 | (1,002) | - | - | 4,032 | |||||
Share-based compensation | - | - | 182,780 | - | - | 182,780 | |||||
Foreign exchange adjustment | - | - | - | 86,697 | - | 86,697 | |||||
Loss for the period | - | - | - | - | (510,780) | (510,780) | |||||
Balance, March 31, 2022 | 114,622,791 | $ | 78,951,068 | $ | 2,427,790 | $ | (3,207,766) | $ | (4,833,352) | $ | 73,337,740 |
The accompanying notes are an integral part of these interim condensed consolidated financial statements.
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Aldebaran Resources Inc. published this content on 03 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 June 2022 16:51:01 UTC.