BLOCKMINT TECHNOLOGIES INC. BLOCKMINT TECHNOLOGIES INC.
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
THREE AND SIX MONTHS ENDED
JUNE 30, 2021
(EXPRESSED IN UNITED STATES DOLLARS)
(UNAUDITED)
Notice To Reader
The accompanying unaudited condensed consolidated interim financial statements of Blockmint Technologies Inc. have been prepared by and are the responsibility of management. The unaudited condensed consolidated interim financial statements have not been reviewed by the Company's auditors.
Blockmint Technologies Inc.
Condensed Interim Consolidated Statements of Financial Position
(Expressed in United States Dollars)
Unaudited
As at | As at | |||
June 30, | December 31, | |||
2021 | 2020 | |||
ASSETS | ||||
Current assets | $ | 2,954,443 | ||
Cash | $ | 2,600,962 | ||
Receivables | 11,143 | 3,455 | ||
Prepaid expenses | 1,000 | 1,000 | ||
Total assets and current assets | 2,966,586 | 2,605,417 | ||
EQUITY AND LIABILITIES | ||||
Current liabilities | $ | 71,964 | ||
Accounts payable and accrued liabilities (note 8) | $ | 61,889 | ||
Total current liabilities | 71,964 | 61,889 | ||
Equity | 9,661,389 | |||
Share capital (note 5) | 8,884,433 | |||
Warrant reserve (note 7) | 17,500 | 17,500 | ||
Contributed surplus (note 6) | 385,400 | 30,300 | ||
Foreign currency translation reserve | 13,495 | 13,495 | ||
Deficit | (7,183,162) | (6,402,200) | ||
Total equity | 2,894,622 | 2,543,528 | ||
Total equity and liabilities | $ | 2,966,586 | $ | 2,605,417 |
Nature of operations and going concern (note 1)
"Nelson Ijih", Director
"Colin Watt", Director
The accompanying notes to the unaudited condensed consolidated interim financial statements are an integral part of these statements.
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Blockmint Technologies Inc.
Condensed Interim Consolidated Statements of Loss and Comprehensive Loss
(Expressed in United States Dollars)
Unaudited
Three Months | Three Months | Six Months | Six Months | |||||
Ended | Ended | Ended | Ended | |||||
June 30, | June 30, | June 30, | June 30, | |||||
2021 | 2020 | 2021 | 2020 | |||||
Operating expenses | $ | 63,311 | $ | 123,940 | ||||
Business development and promotion | $ | 4,491 | $ | 8,488 | ||||
Consulting (note 8) | 113,436 | 87,277 | 203,137 | 100,256 | ||||
Management fees and salaries (note 8) | 37,800 | 24,834 | 81,300 | 49,209 | ||||
Office and miscellaneous | 8,902 | 6,852 | 13,611 | 16,783 | ||||
Professional fees (note 8) | 14,241 | 7,008 | 20,191 | 10,758 | ||||
Salaries and wages | 3,955 | 3,759 | 10,533 | 9,038 | ||||
Share-based payments (note 6) | - | - | 355,100 | - | ||||
Total operating expenses | 241,645 | 134,221 | 807,812 | 194,532 | ||||
Loss before other items | (241,645) | (134,221) | (807,812) | (194,532) | ||||
Foreign exchange (loss) gain | 10,056 | (3,270) | 26,850 | 1,619 | ||||
Revaluation of digital currency | - | 189 | - | 227 | ||||
Net loss for the period | $ | (231,589) | $ | (137,302) | $ | (780,962) | $ | (192,686) |
Other comprehensive income (loss) | - | - | ||||||
Gain on currency translation | 13,074 | (16,336) | ||||||
Total comprehensive loss for the period | $ | (231,589) | $ | (124,228) | $ | (780,962) | $ | (209,022) |
Basic and diluted net loss per share (note 9) | $ | (0.00) | $ | (0.00) | $ | (0.02) | $ | (0.00) |
Weighted average number of common shares | ||||||||
outstanding | 48,242,605 | 44,269,068 | 47,649,867 | 44,269,068 |
The accompanying notes to the unaudited condensed consolidated interim financial statements are an integral part of these statements.
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Blockmint Technologies Inc.
Condensed Interim Consolidated Statements of Cash Flows
(Expressed in United States Dollars)
Unaudited
Six Months | Six Months | |||
Ended | Ended | |||
June 30, | June 30, | |||
2021 | 2020 | |||
Operating activities | $ | (780,962) | ||
Net loss for the period | $ | (192,686) | ||
Adjustments for: | 355,100 | |||
Share-based payments (note 6) | - | |||
Revaluation of digital currency | - | (227) | ||
Changes in non-cash working capital items: | (7,688) | |||
Receivables and prepaid expenses | 6,656 | |||
Accounts payable and accrued liabilities | 10,075 | (543) | ||
Net cash used in operating activities | (423,475) | (186,800) | ||
Financing activities | 782,800 | |||
Proceeds from issuance of common shares | - | |||
Share issue costs | (5,844) | - | ||
Net cash provided by financing activities | 776,956 | - | ||
Foreign exchange effect on cash | - | (16,336) | ||
Net change in cash | 353,481 | (203,136) | ||
Cash, beginning of period | 2,600,962 | 2,957,158 | ||
Cash, end of period | $ | 2,954,443 | $ | 2,754,022 |
The accompanying notes to the unaudited condensed consolidated interim financial statements are an integral part of these statements.
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Blockmint Technologies Inc.
Condensed Interim Consolidated Statements of Changes in Equity
(Expressed in United States Dollars)
Unaudited
Foreign currency | ||||||||||||
translation | ||||||||||||
Share | Warrant | Contributed | reserve | |||||||||
capital | reserve | Surplus | income | Deficit | Total | |||||||
Balance, December 31, 2019 | $ | 8,884,433 | $ | 17,500 | $ | 30,300 | $ | 6,485 | $ | (5,976,367) | $ | 2,962,351 |
Currency translation | - | - | - | (16,336) | - | (16,336) | ||||||
Net loss for the period | - | - | - | - | (192,686) | (192,686) | ||||||
Balance, June 30, 2020 | $ | 8,884,433 | $ | 17,500 | $ | 30,300 | $ | (9,851) | $ | (6,169,053) | $ | 2,753,329 |
Balance, December 31, 2020 | $ | 8,884,433 | $ | 17,500 | $ | 30,300 | $ | 13,495 | $ | (6,402,200) | $ | 2,543,528 |
Private placement | 782,800 | - | - | - | - | 782,800 | ||||||
Share issue costs | (5,844) | - | - | - | - | (5,844) | ||||||
Share-based compensation | - | - | 355,100 | - | - | 355,100 | ||||||
Net loss for the period | - | - | - | - | (780,962) | (780,962) | ||||||
Balance, June 30, 2021 | $ | 9,661,389 | $ | 17,500 | $ | 385,400 | $ | 13,495 | $ | (7,183,162) | $ | 2,894,622 |
The accompanying notes to the unaudited condensed consolidated interim financial statements are an integral part of these statements.
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BlockMint Technologies Inc. published this content on 30 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2021 23:41:01 UTC.
