DYNASTY GOLD CORP. Dynasty Gold Corp.
Condensed Interim Financial Statements
March 31, 2023 and 2022
(Expressed in Canadian Dollars)
DYNASTY GOLD CORP.
NOTICE OF NO AUDITOR REVIEW OF CONDENSED CONSOLIDATED 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 condensed consolidated interim financial statements, they must be accompanied by a notice indicating that the condensed consolidated interim financial statements have not been reviewed by an auditor.
The accompanying unaudited condensed consolidated interim 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 condensed consolidated interim financial statements in accordance with the standards established by the Chartered Professional Accountants of Canada for a review of the condensed consolidated interim financial statements by an entity's auditor.
Dynasty Gold Corp.
Condensed Consolidated Interim Statement of Financial Position (Expressed in Canadian dollars)
December 31, | ||||
March 31, 2023 | 2022 | |||
Assets | ||||
Current | ||||
Cash and cash equivalents | $ | 954,676 | $ | 1,056,726 |
Receivables (Note 4) | 45,227 | 62,498 | ||
Prepaid expenses | 4,455 | 7,523 | ||
1,004,358 | 1,126,747 | |||
Exploration and evaluation assets (Note 5 and 9) | 1,768,334 | 1,771,199 | ||
$ | 2,772,692 | $ | 2,897,946 | |
Liabilities | ||||
Current | ||||
Accounts payable and accrued liabilities (Note 6) | $ | 119,445 | $ | 355,361 |
119,445 | 355,361 | |||
Shareholders' Equity | ||||
Share capital (Note 7) | 37,901,989 | 37,844,739 | ||
Subscription receipt | 143,000 | - | ||
Share-based payment reserve (Note 7) | 3,193,696 | 3,170,078 | ||
Deficit | (38,585,438) | (38,472,232) | ||
2,653,247 | 2,542,585 | |||
$ | 2,772,692 | $ | 2,897,946 |
Nature of Business and Continuance of Operations (Note 1)
Subsequent Event (Note 12)
See accompanying notes to the consolidated financial statements.
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Dynasty Gold Corp.
Notes to Condensed Consolidated Interim Financial Statements For the three months ended March 31, 2023 and 2022 (Expressed in Canadian dollars)
Common Shares | ||||||||||
Share-based | Total | |||||||||
Number of | Shares to be | Payment | Shareholders' | |||||||
Shares | Amount | Issued | Reserve | Deficit | Equity | |||||
Balance, December 31, 2021 | 35,652,208 | $ 36,966,099 | - | $ | 3,085,504 | $ | (38,268,782) | $ | 1,782,821 | |
Private placement, net (Note 7) | 1,929,765 | 319,563 | - | - | - | 319,563 | ||||
Shares to be issued | - | - | 29,570 | - | - | 29,570 | ||||
Stock-based compensation (Note 7) | - | - | - | 26,840 | - | 26,840 | ||||
Comprehensive loss | - | - | - | - | (95,078) | (95,078) | ||||
Balance, March 31, 2022 | 37,581,973 | $ 37,285,662 | $ | 29,570 | $ | 3,112,344 | $ | (38,363,860) | $ | 2,063,716 |
Private placement, net (Note 7) | 6,932,059 | 559,077 | (29,570) | - | - | 529,507 | ||||
Warrant exercise (Note 7) | - | - | - | - | - | - | ||||
Stock-based compensation (Note 7) | - | - | - | 57,734 | - | 57,734 | ||||
Comprehensive loss | - | - | - | - | (108,372) | (108,372) | ||||
Balance, December 31, 2022 | 44,514,032 | $ 37,844,739 | - | $ | 3,170,078 | $ | (38,472,232) | 2,542,585 | ||
Private placement, net (Note 7) | - | - | - | - | - | - | ||||
Shares to be issued | - | - | 143,000 | - | - | 143,000 | ||||
Warrant exercise, net (Note 7) | 265,000 | 57,250 | - | - | - | 57,250 | ||||
Stock-based compensation (Note 7) | - | - | - | 23,618 | - | 23,618 | ||||
Comprehensive loss | - | - | - | - | (113,206) | (113,206) | ||||
Balance, March 31, 2023 | 44,779,032 | $ 37,901,989 | $ | 143,000 | $ | 3,193,696 | $ | (38,585,438) | $ | 2,653,247 |
See accompanying notes to the consolidated financial statements.
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Dynasty Gold Corp.
Consolidated Statements of Comprehensive Loss (Expressed in Canadian dollars)
For the three months ended March 31, | 2023 | 2022 | ||
Expenses | ||||
Consulting fees (Note 8) | $ | 23,288 | $ | 23,288 |
Office expenses | 2,343 | 2,270 | ||
Rent | 4,650 | 4,650 | ||
Professional fees | 10,000 | 4,000 | ||
Regulatory and transfer agent fees | 3,400 | 3,384 | ||
Shareholder communications | 52,371 | 30,708 | ||
Stock-based compensation (Note 7 and 8) | 23,618 | 26,840 | ||
119,670 | 95,140 | |||
Other items | ||||
Interest income | (6,464) | (62) | ||
(6,464) | (62) | |||
Comprehensive loss | $ | 113,206 | $ | 95,078 |
Loss per share - basic and diluted | $ | (0.00) | $ | (0.00) |
Weighted average number of common shares outstanding - | ||||
basic and diluted | 39,760,964 | 35,973,835 |
See accompanying notes to the consolidated financial statements.
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Dynasty Gold Corp. published this content on 05 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 July 2023 08:54:06 UTC.
