BUSCANDO RESOURCES CORP BUSCANDO RESOURCES CORP.
Condensed Interim Financial Statements
(Expressed in Canadian Dollars)
For the three months ended March 31, 2022 and 2021
(Unaudited - Prepared by Management)
The accompanying unaudited interim condensed consolidated financial statements of Buscando Resources Corp 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 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 auditors.
BUSCANDO RESOURCES CORP.
Condensed Interim Statements of Financial Position
As at March 31, 2022 and 2021
(Expressed in Canadian Dollars)
Note | March 31, 2022 | December 31, 2021 | ||||
ASSETS | ||||||
Current Assets | ||||||
Cash | $ | 280,957 | $ | 384,358 | ||
Taxes receivable | 5,153 | 2,250 | ||||
Accounts receivable | 9,286 | 5,903 | ||||
295,396 | 392,511 | |||||
Non-Current Assets | ||||||
Exploration and evaluation assets | 4 | 177,579 | 128,564 | |||
Total Assets | $ | 472,975 | 521,075 | |||
LIABILITIES | ||||||
Current Liabilities | ||||||
Accounts payable & accrued liabilities | 7 | $ | 33,106 | 25,244 | ||
Total Liabilities | 33,106 | 25,244 | ||||
SHAREHOLDERS' EQUITY | ||||||
Share capital (net of issuance costs) | 6 | 585,587 | 188,500 | |||
Special warrants (net of issuance costs) | 5 | - | 387,186 | |||
Reserves | 6 | 62,387 | 65,853 | |||
Deficit | (208,105) | (145,708) | ||||
439,869 | 495,831 | |||||
$ | 472,975 | $ | 521,075 | |||
Nature of operations and going concern | 1 | |||||
Events after the reporting date | 10 | |||||
On behalf of the Directors | ||||||
"Kyler Hardy" | , President & CEO | "Farzad Forooghian" | , Director | |||
Kyler Hardy | Farzad Forooghian |
BUSCANDO RESOURCES CORP.
Condensed Interim Statements of Loss and Comprehensive Loss For the three months ended March 31, 2022 and 2021 (Expressed in Canadian Dollars)
For the three | ||||
For the three | months ended | |||
months ended | March 31, | |||
Note | March 31, 2022 | 2021 | ||
General and Administrative Expenses | ||||
General and administrative | 4,300 | - | ||
Consulting | 33,507 | - | ||
Professional fees | 7,200 | - | ||
Transfer agent & filing fees | 17,249 | 15,790 | ||
Interest & bank charges | 141 | 18 | ||
Total expenses | 62,397 | 15,808 | ||
Net and comprehensive loss for the period | $ | (62,397) | $ | (15,808) |
Basic and diluted loss per share | (0.01) | (0.00) | ||
Weighted average number of common shares outstanding | 7,499,223 | 4,922,223 |
BUSCANDO RESOURCES CORP.
Condensed Interim Statements of Changes in Shareholders' Equity For the three months ended March 31, 2022 and 2021 (Expressed in Canadian Dollars)
Number of Common | Number of Special | Total Shareholders' | ||||||||
Note | Shares | Amount | Warrants | Amount | Reserves | Deficit | Equity | |||
Balance December 31, 2020 | 4,300,001 | $71,000 | 885,000 | $ | 32,286 | $ - | ($37,078) | $66,208 | ||
Shares issued - private placement | 6 | 2,000,000 | 100,000 | - | - | - | - | 100,000 | ||
Net loss for the period | - | - | - | - | - | (15,808) | (15,808) | |||
Balance March 31, 2021 | 6,300,001 | $171,000 | 885,000 | $ | 32,286 | $ - | ($52,886) | $150,400 | ||
Balance December 31, 2021 | 6,475,001 | $188,500 | 4,609,000 | $ | 387,186 | $ | 65,853 | ($145,708) | $495,831 | |
Conversion of special warrants | 6 | 4,609,000 | 387,186 | (4,609,000) | $ | (387,186) | - | - | - | |
Shares issued - repricing | 6 | - | 6,435 | - | - | - | - | 6,435 | ||
Options cancelled | 6 | - | 3,466 | - | - | (3,466) | - | - | ||
Net loss for the period | - | - | - | - | - | (62,397) | (62,397) | |||
Balance March 31, 2022 | 11,084,001 | $585,587 | - | $ - | $62,387 | ($208,105) | $439,869 |
BUSCANDO RESOURCES CORP. Condensed Interim Statements of Cash Flows
For the three months ended March 31, 2022 and 2021 (Expressed in Canadian Dollars)
March 31, | ||||
2022 | March 31, 2021 | |||
Operating Activities | ||||
Net loss for the period | $ | (62,397) | $ | (15,808) |
Changes in non-cash working capital | ||||
Accounts receivable | $ | (3,383) | - | |
Taxes receivable | $ | (2,904) | - | |
Accounts payable and accrued liabilities | $ | 7,862 | (11,520) | |
Cash flows used in operating activities | $ | (60,822) | (27,328) | |
Investing Activities | ||||
Mineral properties | (49,014) | - | ||
Cash flows used in investing activities | (49,014) | - | ||
Financing Activities | ||||
Issue of shares - repricing | 6,435 | - | ||
Issue of shares - private placement | - | 100,000 | ||
Cash flows provided by financing activities | 6,435 | 100,000 | ||
Increase (decrease) in cash | (103,401) | 72,422 | ||
Cash, beginning of period | 384,358 | 30,520 | ||
Cash, end of period | $ | 280,957 | $ | 102,941 |
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Buscando Resources Corp. published this content on 25 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 July 2022 22:18:03 UTC.
