Condensed Interim Consolidated Financial Statements of
Kaizen Discovery Inc.
For the three months ended March 31, 2022 and 2021
(Unaudited)
Condensed Interim Consolidated Financial Statements
Table of contents
Condensed interim consolidated statements of financial position ......................................................................... 1
Condensed interim consolidated statements of loss and comprehensive loss ..................................................... 2
Condensed interim consolidated statements of changes in shareholders' equity (deficit) .................................... 3
Condensed interim consolidated statements of cash flows .................................................................................. 4
Notes to the condensed interim consolidated financial statements ................................................................. 5-12
Condensed Interim Consolidated Statements of Financial Position
(Unaudited)
(Stated in thousands of Canadian dollars)
March 31, | December 31, |
2022 | 2021 |
4,605 | 5,911 |
138 | 59 |
97 | 57 |
512 | 397 |
5,352 | 6,424 |
39 | 26 |
44 | 44 |
56 | 59 |
3,133 | 3,182 |
8,624 | 9,735 |
650 | 327 |
597 | 586 |
1,247 | 913 |
413 | 971 |
1,660 | 1,884 |
62,916 | 62,916 |
4,423 | 4,103 |
452 | 452 |
1,291 | 1,291 |
(782) | (744) |
(61,336) | (60,167) |
6,964 | 7,851 |
8,624 | 9,735 |
Description of business and going concern (Note 1) | |
Approved and authorized for issue on behalf of the Board on May 3, 2022: | |
/s/ Terry Krepiakevich | /s/ Eric Finlayson |
Terry Krepiakevich, Director | Eric Finlayson, Director |
Page | 1 |
Notes
Assets Current assets
Cash
Short-term financial assets
Receivables
Prepaid expenses and deposits
$
10
Total current assets
Non-current assets
Financial assets
Other assets
Property, plant and equipment
Mineral properties
3
Total assets
$
Liabilities Current liabilities
Accounts payable and accrued liabilities
10
$
Provision
Total current liabilities
Non-current liabilities
Non-current provision Total liabilities
4
$
Shareholders' equity
Share capital 5
Share-based payment reserve 8 Other reserves
Share purchase warrants 5 Accumulated other comprehensive loss
Accumulated deficit
$
Total shareholders' equity
Total liabilities and shareholders' equity
$ $
See accompanying notes to the condensed interim consolidated financial statements.
Condensed Interim Consolidated Statements of Loss and Comprehensive Loss
(Unaudited)
(Stated in thousands of Canadian dollars, except for share and per share amounts)
Three months ended March 31,
See accompanying notes to the condensed interim consolidated financial statements.
Total other comprehensive loss for the period Total comprehensive loss for the period
Loss per share (basic and diluted)
Items that may be reclassified subsequently to loss:
Loss before income taxes Income taxes
Net loss for the period
Other comprehensive income (loss)
Items that will not be reclassified subsequently to loss:
2022 | 2021 | |
(940) | (365) | |
(752) | (271) | |
(1,692) | (636) | |
10 | 1 | |
(52) | 103 | |
(11) | (141) | |
(3) | (1) | |
579 | 610 | |
(1,169) | (64) | |
- | - | |
(1,169) | (64) | |
13 | 11 | |
(51) | (31) | |
(38) | (20) | |
(1,207) | (84) | |
(0.02) | (0.00) | |
Weighted average number of basic and diluted shares outstanding | 65,828,426 | 34,355,482 |
Page | 2 |
Notes
Operating expenses
Exploration expenses 6
Administrative expenses 7
Loss from operations
Other income (expenses)
Interest income
(Loss) gain on foreign exchange Interest expense
Depreciation expense
Other income
Change in fair value of marketable securities
Currency translation adjustment
$
4
$
$ $ $
Kaizen Discovery Inc.
Condensed Interim Consolidated Statements of Shareholders' Equity (Deficit)
(Unaudited)
(Stated in thousands of Canadian dollars, except for share amounts)
Number of shares
AccumulatedShare capital
Share-based payment reserve
Other reserves
Share other purchase comprehensive warrants lossAccumulated deficit
TotalBalance at January 1, 2021
Net loss for the period
34,355,482 $
48,576 $ - - -3,839 - - 92
$
452 $ - - -
891 $ - - -(740) $ -(55,878) (2,860)
- - - 34,355,482
(64) (64)
Other comprehensive loss Share-based payments Balance at March 31, 2021
(20) - (20)
- - 92
$
48,576
$
3,931
$
452
$
891
$
(760) $
(55,942) $
(2,852)
Other comprehensive loss Share-based payments
Net loss for the period
Balance at January 1, 2022
65,828,426 $ - - -62,916 $ - - -4,103 - - 320
$
452 $ - - -1,291 $ - - -(744) $ -(60,167) $
7,851
(1,169) (1,169)
(38) - (38)
- - 320
Balance at March 31, 2022
65,828,426
$
62,916
$
4,423
$
452
$
1,291
$
(782) $
(61,336) $
6,964
The number of common shares outstanding and per share amounts have been updated retrospectively to reflect the consolidation of the Company's common shares on a ratio of one post-consolidation common share for every ten pre-consolidation shares ("Consolidation") which became effective on December 9, 2021.
See accompanying notes to the condensed interim consolidated financial statements.
Page | 3
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Kaizen Discovery Inc. published this content on 04 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 May 2022 11:10:07 UTC.