Fandom Sports Media : Interim FS October 31 2021 (Q3)

Fandom Sports Media Corp.

INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

THREE AND NINE MONTHS ENDED OCTOBER 31, 2021 AND 2020

(Expressed in Canadian Dollars)

(unaudited)

NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCAL STATEMENTS

Under National Instrument 51-102, Part 4, subsection 4.3(3) (a), if an auditor has not performed a

review of the unaudited condensed consolidated interim financial statements, they must be accompanied by a notice indicating that the unaudited 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 management and approved by the Audit Committee and Board of Directors of the Company. They include appropriate accounting principles, judgment and estimates in accordance with IFRS for unaudited condensed consolidated interim financial statements

The Company's independent auditors have not performed a review of these unaudited condensed

consolidated interim financial statements in accordance with the standards established by the Chartered Professional Accountants of Canada for a review of unaudited condensed interim financial statements by an entity's auditors.

Fandom Sports Media Corp.

Consolidated Statements of Financial Position (Expressed in Canadian dollars) (unaudited)

			October 31,		January 31,
As at	Notes		2021		2021
ASSETS
Current assets
Cash and equivalents		$	4,200,339	$	735,324
Commodity tax recoverable	3		257,314		39,061
Prepaid expenses			374,926		18,271
			4,832,579		792,656
Non-current assets
Equipment	4		38,000		-
Intangible assets	5		1,189,198		-
			1,227,198		-
TOTAL ASSETS		$	6,059,776	$	792,656
LIABILITIES
Current liabilities
Accounts payable and accrued liabilities	6,9		86,776		104,934
			86,776		104,934
EQUITY (DEFICIT)
Share capital	7	$	20,573,909	$	14,348,117
Share-based payment reserve	8		5,452,461		4,140,933
Deficit			(20,053,370)		(17,801,328)
TOTAL EQUITY (DEFICIT)			5,973,000		687,722
TOTAL LIABILITIES AND EQUITY (DEFICIT)		$	6,059,776	$	792,656

Nature and continuance of operations and going concern (Note 1)

Events after the reporting period (Note 12)

Approved and authorized by the Board on December 30, 2021

Director

"Scott Keeney"

Director

"Tristan Brett"

See accompanying notes to the consolidated interim financial statements

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Fandom Sports Media Corp.

Consolidated Statements of Loss and Comprehensive Loss (Expressed in Canadian dollars) (unaudited)

		Three months	Three months		Nine months	Nine months
		ended Oct 31,	ended Oct 31,		ended Oct 31,	ended Oct 31,
	Notes		2021		2020		2021		2020
Expenses
Amortization	4,5	$	-	$	-	$	-	$	-
Consulting and management fees	9		238,611		120,904		686,504		362,811
Platform development costs	5,7		251,368		71,723		465,868		115,437
Interest, bank charges, forex			2,927		2,764		8,639		5.518
Legal and audit			11,184		31,997		70,324		66,818
Marketing and promotion			45,218		90,386		419,259		290,206
Office and general			31,941		6,280		89,714		10,709
Share-based compensation	8,9		193,128		-		778,228		945,650
Software Maintenance Fee	5,7		-		-		27,030		-
Technology costs			(3,625)		-		12,532		-
Transfer agent and filing fees			(10,276)		11,498		36,845		42,007
Travel			(320)		-		-		2,316
		$	760,155	$	335,553	$	2,594,942	$	1,841,473
Other Items
Loss (gain) on debt settlement	7		-		-		(342,902)		-
Loss and comprehensive loss for the
period		$	760,155	$	335,553	$	2,252,040	$	1,841,473
Loss per share - basic and diluted		$	(0.00)	$	(0.01)	$	(0.02)	$	(0.07)
Weighted number of
common shares outstanding			80,908,938	32,710,031		80,908,938		27,335,556

See accompanying notes to the consolidated interim financial statements

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Fandom Sports Media Corp.

Consolidated Statements of Changes in Equity (Deficit) (Expressed in Canadian dollars) (unaudited)

		SHARE CAPITAL
					Share-based
		Number of				payment
	Notes	shares		Amount		reserve		Deficit		Total
Balance at January 31, 2020		16,167,734	$	12,124,443	$	2,382,233	$	(14,750,532)	$	(243,856)
Shares issued for private placements	7	16,448,818		1,173,438		5,300		-		1,178,738
Shares issued for exercise of warrants	7	200,000		14,000						14,000
Consolidation adjustment	7	1		-		-		-		-
Stock based compensation	7	-		-		945,650		-		945,650
Net and comprehensive loss		-		-		-		(1,841,473)		(1,841,473)
Balance at October 31, 2020		32,816,553	$	13,311,881	$	3,333,183	$	(16,592,005)	$	53,059
Balance at January 31, 2021		49,834,283	$	14,348,117	$	4,140,933	$	(17,801,328)	$	687,722
Shares issued for private placements	7	22,040,797		4,502,778		533,300		-		5,036,078
Shares issued for exercise of warrants and
options	7	4,841,666		446,917		-		-		446,917
Shares issued for debt settlement	7	5,388,387		1,276,098		-		-		1,276,098
Stock based compensation	7	-		-		778,228		-		778,228
Net and comprehensive loss		-		-		-		(2,252,040)		(2,252,040)
Balance at October 31, 2021		82,105,133	$	20,573,909	$	5,452,461	$	(20,053,368)	$	5,973,002

See accompanying notes to the consolidated interim financial statements

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