FOUR NINES GOLD INC. Four Nines Gold Inc.
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
For the three months ended April 30, 2022
(Expressed in Canadian Dollars)
(Unaudited - Prepared by Management)
NOTICE OF NO AUDITOR REVIEW OF THE
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
In accordance with National Instrument 51-102 Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of these condensed interim consolidated financial statements, they must be accompanied by a notice indicating that the condensed interim financial statements have not been reviewed by an auditor.
The accompanying unaudited condensed interim consolidated financial statements of the Company for the three months ended April 30, 2022 have been prepared by and are the responsibility of the Company's management, and have not been reviewed by the Company's auditors.
Four Nines Gold Inc.
Condensed Interim Consolidated Statements of Financial Position As at April 30, 2022 and January 31, 2022
(Expressed in Canadian Dollars) (Unaudited - Prepared by Management)
April 30, | January 31, | |||
2022 | 2022 | |||
ASSETS | ||||
Current assets | ||||
Cash | $ | 921,832 | $ | 1,014,975 |
GST receivable | 2,374 | 2,505 | ||
Prepaid expense | 5,993 | 10,487 | ||
930,199 | 1,027,967 | |||
Exploration and evaluation asset (Note 5) | 263,364 | 218,054 | ||
Total assets | $ | 1,193,563 | $ | 1,246,021 |
LIABILITIES | ||||
Current liabilities | ||||
Accounts payable and accrued liabilities (Note 9) | $ | 97,791 | $ | 132,062 |
97,791 | 132,062 | |||
SHAREHOLDERS' EQUITY | ||||
Share capital (Note 6) | 2,429,311 | 2,372,311 | ||
Equity component of convertible debentures | 31,250 | 31,250 | ||
Reserves (Note 6) | 338,768 | 261,794 | ||
Accumulated other comprehensive loss | (1,000) | - | ||
Deficit | (1,702,557) | (1,551,396) | ||
Total shareholders' equity | 1,095,772 | 1,113,959 | ||
Total liabilities and shareholders' equity | $ | 1,193,563 | $ | 1,246,021 |
Nature and continuance of operations - Note 1 | ||||
Subsequent event - Note 3 |
APPROVED ON BEHALF OF THE BOARD:
"Charles Ross" | Director | "Geoff Balderson" | Director |
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
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Four Nines Gold Inc.
Condensed Interim Consolidated Statements of Loss and Comprehensive Loss For the three months ended April 30, 2022 and 2021
(Expressed in Canadian Dollars) (Unaudited - Prepared by Management)
For the three months ended April 30, | |||||
2022 | 2021 | ||||
Expenses | |||||
Bank charges | $ | 349 | $ | 131 | |
Consulting fees (Note 9) | 6,000 | 6,614 | |||
Filing fees and transfer agent | 7,257 | 6,940 | |||
Foreign exchange loss | 1,111 | - | |||
Office and general | 6,142 | 61 | |||
Professional fees | 14,036 | 3,742 | |||
Property investigation | 37,519 | - | |||
Share-based payments (Notes 6 and 9) | 76,974 | 33,951 | |||
Travel and entertainment | 1,773 | - | |||
Net loss for the period | (151,161) | (51,439) | |||
Other comprehensive income | |||||
Loss on translation of foreign operations | (1,000) | - | |||
Total comprehensive loss for the period | $ | (152,161) | $ | (51,439) | |
Basic and diluted loss per common share | $ | (0.01) | $ | (0.00) | |
Weighted average number of common shares outstanding | 14,703,185 | 12,377,943 |
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
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Four Nines Gold Inc.
Condensed Interim Consolidated Statements of Changes in Shareholders' Equity For the three months ended April 30, 2022 and 2021
(Expressed in Canadian Dollars) (Unaudited - Prepared by Management)
Equity | Accumulated | |||||||||||||||
Number | component on | other | ||||||||||||||
of common | Share | Shares | convertible | comprehensive | ||||||||||||
shares | capital | subscribed | debenture | Reserves | loss | Deficit | Total | |||||||||
Balance, January 31, 2021 | 12,305,900 | $ | 1,490,659 | $ | 5,000 | $ | 31,250 | $ | 85,174 | $ | - | $ | (1,082,271) | $ | 529,812 | |
Cash | ||||||||||||||||
Private placements | 2,461,863 | 861,652 | (19,925) | - | - | - | - | 841,727 | ||||||||
Exercise of warrants | 50,000 | 5,000 | (5,000) | - | - | - | - | - | ||||||||
Share-based payments | - | - | - | - | 33,951 | - | - | 33,951 | ||||||||
Loss for the period | - | - | - | - | - | - | (51,439) | (51,439) | ||||||||
Balance, April 30, 2021 | 14,817,763 | $ | 2,357,311 | $ | (19,925) | $ | 31,250 | $ | 119,125 | $ | - | $ | (1,133,710) | $ | 1,354,051 | |
Balance, January 31, 2022 | 14,967,763 | $ | 2,372,311 | $ | - | $ | 31,250 | $ | 261,794 | $ | - | $ | (1,551,396) | $ | 1,113,959 | |
Cash | ||||||||||||||||
Exercise of warrants | 570,000 | 57,000 | - | - | - | - | - | 57,000 | ||||||||
Share-based payments | - | - | - | - | 76,974 | - | - | 76,974 | ||||||||
Loss for the period | - | - | - | - | - | (1,000) | (151,161) | (152,161) | ||||||||
Balance, April 30, 2022 | 15,537,736 | $ | 2,429,311 | $ | - | $ | 31,250 | $ | 338,768 | $ | (1,000) | $ | (1,702,557) | $ | 1,095,772 |
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
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Four Nines Gold Inc. published this content on 10 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 June 2022 17:52:05 UTC.
