CARLIN GOLD CORPORATION CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
(Expressed in Canadian dollars)
FOR THE SIX MONTHS ENDED JUNE 30, 2023
Index | Page |
Condensed Consolidated Interim Financial Statements | |
Notice to Reader | 2 |
Condensed Consolidated Interim Statements of Financial Position | 3 |
Condensed Consolidated Interim Statements of Loss and Comprehensive Loss | 4 |
Condensed Consolidated Interim Statements of Equity | 5 |
Condensed Consolidated Interim Statements of Cash Flows | 6 |
Notes to Condensed Consolidated Interim Financial Statements | 7 - 16 |
1
Notice to Reader:
These condensed consolidated interim financial statements of Carlin Gold Corporation (the "Company") have been prepared by management and reviewed by the Audit Committee and approved and authorized for issue by the Board of Directors of the Company. In accordance with National Instrument 51-102 released by the Canadian Securities Administrators, the Company discloses that its external auditors have not reviewed these condensed consolidated interim financial statements, notes to financial statements and the related quarterly Management Discussion and Analysis.
2
Condensed Consolidated Interim Statements of Financial Position As at June 30, 2023 and December 31, 2022
(Expressed in Canadian dollars)
June 30 | December 31 | |||
2023 | 2022 | |||
Assets | ||||
Current assets: | ||||
Cash | $ | 1,030,647 | $ | 198,970 |
Accounts receivable | 33,673 | 5,106 | ||
Marketable securities (Note 4) | 481,778 | 766,290 | ||
1,546,098 | 970,366 | |||
Exploration and evaluation properties (Note 5) | 1,920,830 | 1,920,830 | ||
$ | 3,466,928 | $ | 2,891,196 | |
Liabilities | ||||
Current liabilities: | $ | |||
Trade payables and accrued liabilities | 16,036 | $ | 26,168 | |
Other amounts due to related parties (Note 7) | 62,644 | 771,533 | ||
78,680 | 797,701 | |||
Equity | ||||
Share capital (Note 6) | 11,889,618 | 10,603,291 | ||
Reserves - Stock options (Note 6(c)) | 29,740 | - | ||
Deficit | (8,531,110) | (8,509,796) | ||
3,388,248 | 2,093,495 | |||
$ | 3,466,928 | $ | 2,891,196 |
"K. Wayne Livingstone" | "Robert Culbert" |
Director | Director |
See accompanying notes to condensed consolidated interim financial statements.
3
Condensed Consolidated Interim Statements of Loss and Comprehensive Loss For the three and six months ended June 30, 2023 and 2022
(Expressed in Canadian dollars)
June 30 | June 30 | |||||||
2023 | 2022 | 2023 | 2022 | |||||
Expenses: | $ | 11,581 | $ | 16,946 | $ | |||
Accounting and audit | $ | 12,498 | 17,782 | |||||
Management and administration fees (Note 7) | 15,000 | 15,000 | 30,000 | 30,000 | ||||
Office | 7,230 | 829 | 9,462 | 919 | ||||
Regulatory fees | 7,633 | 6,978 | 13,329 | 6,978 | ||||
Share-based payments (Note 6(c) | - | - | 29,740 | - | ||||
Technical consulting | (18) | 11,444 | 6,065 | 11,444 | ||||
Transfer agent fees | 791 | 1,074 | 2,330 | 1,459 | ||||
(53,893) | (47,823) | (119,549) | (68,582) | |||||
Foreign exchange (loss) gain | (738) | (3,064) | (550) | (3,073) | ||||
Gain on sale of marketable securities (Note 4) | 30,239 | - | 28,859 | 17,235 | ||||
Fair value change of marketable securities (Note 4) | 42,994 | (71,250) | (12,512) | (122,500) | ||||
Write-down of amounts due to related parties (Note 7) | 82,437 | - | 82,437 | - | ||||
Net loss and comprehensive loss for the period | $ | 101,038 | $ | (122,137) | $ | (21,315) | $ | (176,920) |
Loss per share (basic and diluted) | $ | 0.01 | $ | 0.00 | $ | (0.00) | $ | (0.00) |
Weighted average number of common shares outstanding | 9,488,451 | 88,939,464 | 9,488,451 | 88,939,464 |
See accompanying notes to condensed consolidated interim financial statements.
4
Condensed Consolidated Interim Statements of Equity For the six months ended June 30, 2023 and 2022 (Expressed in Canadian dollars)
Share Capital | Reserves | |||||||
Number of | Stock | |||||||
Shares * | Amount | options | Deficit | Total equity | ||||
Balance, December 31, 2021 | 8,893,946 | $10,603,291 | $111,171 | ($9,009,550) | $1,704,912 | |||
Net loss for the period | - | - | - | (176,920) | (176,920) | |||
Balance, June 30, 2022 | 8,893,946 | $10,603,291 | $111,171 | ($9,186,470) | $1,527,992 | |||
Cancellation of stock options (Note 6b) | - | - | (111,171) | 111,171 | - | |||
Net income for the period | - | - | - | 565,504 | 565,504 | |||
Balance, December 31, 2022 | 8,893,946 | $10,603,291 | $ | - | ($8,509,795) | $ | 2,093,496 | |
Shares issued for private placement (Note 6(b)) | 5,050,000 | 606,000 | - | - | 606,000 | |||
Shares issued fo debt settlement (Note 6(b) and 7) | 4,600,000 | 690,000 | - | - | 690,000 | |||
Share based compensation (Note 6(c)) | - | - | 29,740 | - | 29,740 | |||
Share issue costs (Note 6(b)) | - | (9,673) | - | - | (9,673) | |||
Net loss for the period | - | - | - | (21,315) | (21,315) | |||
Balance, June 30, 2023 | 18,543,946 | $11,889,618 | $29,740 | ($8,531,110) | $ | 3,388,248 |
* Restated to reflect share consolidation which took effect on June 6, 2023 (Note 6).
See accompanying notes to condensed consolidated interim financial statements.
5
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Carlin Gold Corporation published this content on 30 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2023 02:16:39 UTC.
