KUTCHO COPPER CORP. KUTCHO COPPER CORP.
Condensed Consolidated Interim Financial Statements
January 31, 2022
Expressed in Canadian Dollars (Unaudited - prepared by management)
NOTICE OF NO AUDITOR REVIEW OF 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 interim financial statements, they must be accompanied by a notice indicating that the financial statements have not been reviewed by an auditor.
The accompanying unaudited interim consolidated 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 financial statements in accordance with standards established by the Chartered Professional Accountants of Canada for a review of interim financial statements by the entity's auditor.
KUTCHO COPPER CORP.
Condensed consolidated interim statements of financial position (Expressed in Canadian dollars - unaudited)
ASSETS
Current assets Cash Receivables Advances
Prepaid expenses and deposits Marketable securitiesNon-current assets Equipment Investment Prepaid expenses Reclamation deposit
Exploration and evaluation assets
TOTAL ASSETS
LIABILITIES
Current liabilities
Trade payables and accrued liabilities Convertible note
Loans
Flow-through share liabilityLong-term liabilities Convertible note Deposit liability
Asset retirement obligation
TOTAL LIABILITIES
SHAREHOLDERS' EQUITY Share capital
Share-based payment reserve Convertible note reserve Deficit
TOTAL SHAREHOLERS' EQUITY
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
Nature and continuance of operations (Note 1) Subsequent events (Note 20)
NotesJanuary 31, 2022
4 8 5,17
$ 1,260,793 334,590 260,375
696,133 215,959
67,500 209,000
6 7,17 8,14 8,17
$ 60,304,656
10,17 $ 11 12 13
2,619,391
- 1,780
292,456 263,888
302,083 89,863
160,000 160,000
56,930,726 57,685,265
189,930
4,783,829 2,455,458
1,380,125 1,233,084
- 6,353,884
11 9 14
24,619,574 24,326,848
8,903,300 8,599,500
160,000 33,682,874
40,036,758
15 15, 16 16
56,469,796 47,167,275
6,115,785 4,765,888
1,762,005 1,762,005
(44,079,688)
20,267,898 $ 60,304,656
Approved and authorized for issuance on behalf of the Board of Directors on March 30, 2022:
"Vince Sorace"
Vince Sorace - Director
"Jay Sujir"
Jay Sujir - Director
See accompanying notes to the condensed consolidated interim financial statements
April 30, 2021
$ 3,314,220 42,477 1,072,974
4,854,630
46,760,986 47,276,517
$ 52,131,147
$
218,212
223,849 4,130,603
160,000 33,086,348
37,216,951
(38,780,972)
14,914,196 $ 52,131,147
3
KUTCHO COPPER CORP.
Condensed consolidated interim statements of comprehensive loss (Expressed in Canadian dollars - unaudited)
Expenses
Administration expenses Consulting fees Depreciation Directors' fees
Interest and accretion expense Management fees
Marketing and promotion Office and miscellaneous Professional fees Stock-based compensation Transfer agent and filing fees
Other income (expenses)
(Loss) Gain on sale of investment and securities
Unrealized gain (loss) on marketable securities
Flow-through recovery
Change in fair value of investment Foreign exchange gain (loss)
Three months ended Jan. 31, | Nine months ended Jan. 31, | |
Notes | 2022 2021 | 2022 2021 |
$
46,500 $
45,187
6 17 11,12 17
594
19,414
924,818
113,764
174,609
29,351
17,581
15,17 1,422,955 26,825
27,000 $ 19,130 2,814 -124,500 $ 118,500
159,973 62,322
1,781 8,441
58,088
904,705 2,768,138
76,800 96,586 24,428 3,723
- 2,604,169
258,387 236,317 363,311 141,413 72,007 54,949 98,898 18,850
72,567 1,692,016 373,414
10,319 (1,238,072)
89,276 23,079
(2,821,598)
5 5 13 7 9
(24,869)
-
40,050 - (26,077)
(55,000) (18,500) 222,500
- -
(169,368) 375,816
(5,686,375)
(3,631,353)
(31,088) 25,000
473,849 28,568 (215,986)
- - 788,758
(180,264)
320,816
236,843
1,036,258
Net and comprehensive loss
$ (3,001,862)
$
(917,256)
$ (5,449,532)
$ (2,605,196)Loss per share - basic and diluted
15
$
(0.03)
$
(0.01)
$
(0.06)
$
See accompanying notes to the condensed consolidated interim financial statements
(0.04)
4
KUTCHO COPPER CORP.
Condensed consolidated interim statements of changes in shareholders' equity (Expressed in Canadian dollars - unaudited)
Balance, April 30, 2020
Shares issued for cash - private placement, net of share issuance costs
Shares issued on exercise of warrants Stock-based compensation
Net and comprehensive loss
Share capitalNotesNumber of shares
AmountShare-based payment reserve
Convertible note reserveDeficit
Total
68,247,628 $ 41,403,705
15 15 15,17
11,000,000 2,028,757
100,000 - -
$ 3,886,055
$
1,762,005
$ (35,083,699)
$ 11,968,066
64,069 - - 2,092,826
25,000 - -
- - - 25,000
373,414 - - 373,414
-
-(2,605,196)
(2,605,196)
Balance, January 31, 2021
79,347,628
$ 43,457,462
$ 4,323,538
$
1,762,005
$ (37,688,895)
$
11,854,110
Balance, April 30, 2021
Shares issued for cash - private placement, net of share issue costs
Shares issued on exercise of options and warrants Expiry of options
Stock-based compensation Net and comprehensive loss
88,617,526 $ 47,167,275
13,15 15 15,17
$ 4,765,888
$
1,762,005
$ (38,780,972)
$ 14,914,196
12,963,158 2,544,434 - - -8,224,521 1,078,000 -
- - - 8,224,521
(191,303) (150,816)
- 1,692,016
-
-- - - -
- 150,816 - (5,449,532)
886,697 - 1,692,016 (5,449,532)
Balance, January 31, 2022
104,125,118
$ 56,469,796
$ 6,115,785
$
1,762,005
$ (44,079,688)
See accompanying notes to the condensed consolidated interim financial statements
$
20,267,898
5
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Kutcho Copper Corp. published this content on 01 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 April 2022 23:43:06 UTC.
