Quizam Media : 1st Quarter 2021

QUIZAM MEDIA CORPORATION

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED

August 31, 2021 AND 2020

(Unaudited)

The accompanying unaudited interim financial statements have been prepared by Management of Quizam Media

CorporaQon and have not been reviewed by the Company's auditors

QUIZAM MEDIA CORPORATION

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(Expressed in Canadian dollars) (Unaudited - Prepared by Management)

		As at		As at
		August 31,		May 31,
		2021		2021
		$		$
ASSETS
Current
Cash and cash equivalents	443,602	921,534
Accounts receivable	47,670		67,761
Sales taxes recoverable	7,896		4,724
Prepaid expenses and deposits	135,881		84,938
Inventory (Note 3)	137,879		120,835
Total current assets	772,928		1,199,792
Property and equipment (Note 4)	1,394,085		868,226
Total assets	2,167,013		2,068,018
LIABILITIES
Current
Accounts payable and accrued liabilities	240,125		382,630
Deferred revenue	36,726		21,833
Due to related parties (Note 10)	20,419		23,606
Lease liabilities - Current (Note 16)	445,171		307,244
Total current liabilities	741,441		735,313
Lease liabilities - Long-term (Note 17)	859,875		455,265
Loan payable - Long-term (Note 15)	60,000		60,000
Total liabilities	1,662,316		1,250,578
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EQUITY
Share capital (Note 5)	24,371,167		24,245,652
Contributed surplus	3,182,498		3,173,032
Deficit	(27,048,968)		(26,601,244)
Total surplus	504,697		817,440
Total liabilities and equity	2,167,013		2,068,018

Nature and continuance of operations (Note 1)

APPROVED ON BEHALF OF THE BOARD ON OCTOBER 29, 2021

/s/ "Russ Rossi"		/s/ "Jim Rosevear"
Russ Rossi, Director		Jim Rosevear, Director

The Accompanying Notes are an Integral Part of the Consolidated Financial Statements

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QUIZAM MEDIA CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(Expressed in Canadian dollars) (Unaudited - Prepared by Management)

The Accompanying Notes are an Integral Part of the Consolidated Financial Statements

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