CDN MAVERICK CAPITAL CORP. CDN MAVERICK CAPITAL CORP.
(FORMERLY CAELAN CAPITAL INC.)
CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2021 (Unaudited - Expressed in Canadian Dollars)
Notice of No Auditor Review
These unaudited consolidated interim financial statements of CDN Maverick Capital Corp. (formerly Caelan Capital Inc.) (the "Company") have not been reviewed by the auditors of the Company. This notice is being provided in accordance with Section 4.3 (3) (a) of National Instrument 51-102 - Continuous Disclosure Obligations.
CDN MAVERICK CAPITAL CORP. (formerly CAELAN CAPITAL INC.)
Consolidated Interim Statements of Financial Position
(Unaudited - Expressed in Canadian Dollars)
September 30 | December 31 | ||||
2021 | 2020 | ||||
ASSETS | |||||
Current assets | |||||
Cash | $ | 425,835 | $ | 675,310 | |
Prepaid expenses | - | 3,730 | |||
GST recoverable | 5,654 | 15,660 | |||
Marketable securities (Note 4) | 1,383,532 | 1,084,138 | |||
1,815,021 | 1,778,838 | ||||
Equipment (Note 5) | 64,311 | 13,441 | |||
Mineral properties exploration (Note 6) | 385,455 | 179,459 | |||
$ | 2,264,787 | $ | 1,971,738 | ||
LIABILITIES | |||||
Current liabilities | |||||
Accounts payable (Note 10) | $ | 71,758 | $ | 60,517 | |
Accrued liabilities (Note 10) | 16,160 | 33,000 | |||
87,918 | 93,517 | ||||
SHAREHOLDERS' EQUITY | |||||
Share capital (Note 7) | 14,001,653 | 13,891,403 | |||
Reserves (Note 7) | 2,329,804 | 1,748,766 | |||
Deficit | (14,154,588) | (13,761,948) | |||
2,176,869 | 1,878,221 | ||||
$ | 2,264,787 | $ | 1,971,738 | ||
Nature and continuance of operations (Note 1) | |||||
Subsequent events (Note 14) | |||||
Approved on behalf of the Board: | |||||
Director | "Peter Born" | ||||
Peter Born, Director | |||||
Director | "Sandy MacDougall" | ||||
Sandy MacDougall, Director |
The accompanying notes are an integral part of these consolidated interim financial statements
1
CDN MAVERICK CAPITAL CORP. (formerly CAELAN CAPITAL INC.)
Consolidated Interim Statements of Comprehensive Loss
(Unaudited - Expressed in Canadian Dollars)
Three months ended | Nine months ended | |||||||
September 30 | September 30 | |||||||
2021 | 2020 | 2021 | 2020 | |||||
EXPENSES | ||||||||
Accounting and audit fees | $ | 2,825 | $ | 700 | $ | 6,195 | $ | 3,420 |
Consulting fees | 48,797 | 20,000 | 108,797 | 42,750 | ||||
Depreciation (Note 5) | 3,610 | 660 | 7,892 | 1,980 | ||||
Filing fees | 3,110 | 2,362 | 35,263 | 11,852 | ||||
Corporate communications | 175 | 1,464 | 175 | 1,939 | ||||
Legal | 907 | - | 5,656 | 2,176 | ||||
Management fees (Note 10) | 64,500 | 117,500 | 193,500 | 206,500 | ||||
Office and general | 4,789 | 25,246 | 26,242 | 43,437 | ||||
Promotion and travel | - | 5,177 | 6,425 | 12,759 | ||||
Rent | - | - | - | 17,047 | ||||
Transfer agent and regulatory fees | 870 | 4,833 | 2,495 | 12,737 | ||||
Loss before other item | (129,583) | (177,942) | (392,640) | (356,597) | ||||
Other income | ||||||||
Interest income | - | 337 | - | 3,000 | ||||
Net loss | (129,583) | (177,605) | (392,640) | (353,597) | ||||
Other comprehensive items |
Items that will not be subsequently reclassified to net income (loss):
Gain on sale of marketable securities (Note 4) | 17,758 | 95,859 | 459,799 | 192,854 | ||||
Change in fair value of investment (Note 4) | 123,648 | 188,741 | 121,239 | 257,721 | ||||
Comprehensive income | 11,823 | 106,995 | 188,398 | 96,978 | ||||
Basic and diluted loss per share | $ | (0.01) | $ | (0.05) | $ | (0.04) | $ | (0.10) |
Weighted average number of common shares outstanding | 8,921,215 | 3,371,225 | 8,900,777 | 3,371,225 |
The accompanying notes are an integral part of these consolidated interim financial statements
2
CDN MAVERICK CAPITAL CORP. (formerly CAELAN CAPITAL INC.)
Consolidated Interim Statements of Cash Flow
(Unaudited - Expressed in Canadian Dollars)
Nine months ended | ||||
September 30 | ||||
2021 | 2020 | |||
Cash provided by (used in): | ||||
Operating activities | ||||
Net loss | $ | (392,640) | $ | (353,597) |
Add (Deduct): items not involving cash | ||||
Depreciation | 7,892 | 1,980 | ||
Non-cash working capital items | ||||
GST recoverable | 10,006 | (1,470) | ||
Prepaid expenses | 3,730 | 12,750 | ||
Accounts payable and accrued liabilities | (5,599) | 98,771 | ||
Net cash used in operating activities | (376,611) | (241,566) | ||
Investing activities | ||||
Proceeds from sale of marketable securities | 969,287 | 381,639 | ||
Purchase of marketable securities | (687,643) | (65,287) | ||
Purchase of equipment | (58,762) | - | ||
Mineral properties acquisition and exploration | (95,746) | (62,250) | ||
Net cash provided by investing activities | 127,136 | 254,102 | ||
Change in cash during the period | (249,475) | 12,536 | ||
Cash, beginning of the period | 675,310 | 163,410 | ||
Cash, end of the period | $ | 425,835 | $ | 175,946 |
Interest and income taxes paid | $ | - | $ | - |
The accompanying notes are an integral part of these consolidated interim financial statements
.
3
CDN MAVERICK CAPITAL CORP. (formerly CAELAN CAPITAL INC.)
Consolidated Interim Statements of Changes in Equity
(Unaudited - Expressed in Canadian Dollars)
Reserves | |||||||||
Number of | Share | Share-based | Held for | ||||||
Shares | Capital | Payment | Sale | Deficit | Total Equity | ||||
Balance December 31, 2019 | 3,371,215 | $13,283,903 | $ | 1,202,949 | $ | (798,000) | $ (13,211,529) | $ | 477,323 |
Gain on sale of marketable securities (Note 4) | - | - | - | 192,854 | - | 192,854 | |||
Change in fair value of investment (Note 4) | - | - | - | 257,721 | - | 257,721 | |||
Net loss | - | - | - | - | (353,597) | (353,597) | |||
Balance September 30, 2020 | 3,371,215 | 13,283,903 | 1,202,949 | (347,425) | (13,565,126) | 574,301 | |||
Balance December 31, 2020 | 8,221,215 | 13,891,403 | 1,257,851 | 490,915 | (13,761,948) | 1,878,221 | |||
Issue of common shares for property interest (Note 7) | 700,000 | 110,250 | - | - | - | 110,250 | |||
Gain on sale of marketable securities (Note 4) | - | - | - | 459,799 | - | 459,799 | |||
Change in fair value of investment (Note 4) | - | - | - | 121,239 | - | 121,239 | |||
Net loss | - | - | - | - | (392,640) | (392,640) | |||
Balance September 30, 2021 | 8,921,215 | $14,001,653 | $ | 1,257,851 | $ | 1,071,953 | $ (14,154,588) | $ | 2,176,869 |
The accompanying notes are an integral part of these consolidated interim financial statements
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CDN Maverick Capital Corp. published this content on 30 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 November 2021 00:50:02 UTC.
