Condensed Consolidated Financial Statements
Rimrock Gold Corp.
For the quarterly period ended May 31, 2022 (Expressed in USD)
Rimrock Gold Corp. | |
Condensed Consolidated Financial Statements | |
For the quarterly period ended May 31, 2022 | |
Table of contents | |
Condensed Consolidated Balance Sheets.………...…………....…………………….…………………..1 | |
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income......................... | 2 |
Condensed Consolidated Statements of Cash Flows……..………………….……...………………….....3 | |
Condensed Consolidated Statements of Stockholders Deficiency ………….……...………………….....4 | |
Notes to Condensed Consolidated Financial Statements..………….………………………………… 5 - 11 |
Rimrock Gold Corp.
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(Expressed in US dollars)
May 31, | August 31, | |
2022 | 2021 | |
$ | $ | |
ASSETS | ||
Non-current assets | ||
Inventory | 2,406 | 2,406 |
Equipment, net [Note 5] | 1,411 | 1,744 |
Total assets | 3,817 | 4,150 |
LIABILITIES AND STOCKHOLDERS' DEFICIENCY | ||
Current liabilities | ||
Accounts payable | 154,843 | 147,004 |
Accrued liabilities | 15,072 | 14,895 |
Advances from a related party [Note 6] | 67,742 | 57,867 |
Common stock to be issued [Note 8] | 142,490 | 142,490 |
Total current liabilities | 380,147 | 362,256 |
Stockholders' deficiency | ||
Preferred stock, $0.001 par value, 1,000,000 shares authorized, 500,500 | ||
preferred shares outstanding at May 31, 2022 and August 31, 2021 [Note | ||
7] | 501 | 501 |
Common stock, $0.001 par value, 2,900,000,000 shares authorized, | ||
2,725,701,808 common shares outstanding as at May 31, 2022 and August | ||
31, 2021 [Note 7] | 2,725,702 | 2,725,702 |
Additional paid-in capital | 2,556,534 | 2,556,534 |
Accumulated deficit | (5,659,067) | (5,640,843) |
Total stockholders' deficiency | (376,330) | (358,106) |
Total liabilities and stockholders' deficiency | 3,817 | 4,150 |
See accompanying notes | ||
Going concern [Note 3] | ||
Contingencies and commitments [Note 9] | ||
Related party transactions and balnces [Note 10] | ||
Subsequent events [Note 11] |
Page | 1
Rimrock Gold Corp.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (UNAUDITED)
(Expressed in US dollars)
For the | For the | For the | For the | |
three months ended | three months ended | nine months ended | nine months ended | |
May 31, 2022 | May 31, 2021 | May 31, 2022 | May 31, 2021 | |
$ | $ | $ | $ | |
Sales | - | 2,301 | 96 | 3,654 |
Cost of Goods Sold | - | 1,619 | 47 | 2,559 |
Gross Profit | - | 682 | 49 | 1,095 |
EXPENSES | ||||
Professional fees | 7,280 | 41,891 | 13,401 | 55,556 |
Interest expense (including day one interest | ||||
expense on convertible notes) [Note 9] | 59 | 59 | 177 | 177 |
Write-off of loan payable [Note 6] | - | (81,378) | - | (81,378) |
Office and general | 1,338 | 1,256 | 4,362 | 3,378 |
Depreciation [Note 5] | 95 | 126 | 333 | 410 |
Total operating (income) expenses | 8,772 | (38,728) | 18,224 | (22,952) |
Net profit (loss) from operations | (8,772) | 38,728 | (18,224) | 22,952 |
Net income (loss) from operations before | ||||
income taxes | (8,772) | 38,728 | (18,224) | 22,952 |
Income taxes | - | - | - | - |
Net income (loss) for the period | (8,772) | 38,728 | (18,224) | 22,952 |
Earnings (loss) per share, basic and diluted | (0.0000) | 0.0000 | (0.0000) | 0.0000 |
Weighted average number of | ||||
common shares outstanding | 2,725,701,808 | 2,650,701,808 | 2,725,701,808 | 2,650,701,808 |
See accompanying notes |
Page | 2
Rimrock Gold Corp.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(Expressed in US dollars)
For the | For the | |
nine months ended | nine months ended | |
May 31, 2022 | May 31, 2021 | |
$ | $ | |
OPERATING ACTIVITIES | ||
Net income for the period | (18,224) | 22,952 |
Items not affecting cash | ||
Depreciation | 333 | 410 |
Interest expense (including day one interest expense on | ||
convertible notes) | 177 | 177 |
Issuance of stock and convertible notes for services | - | 44,000 |
Changes in inventory | - | (2,489) |
Write-off of Loan payable | - | (81,378) |
Change in accounts payable | 7,839 | (5,352) |
Net cash used in operating activities | (9,875) | (21,680) |
INVESTING ACTIVITIES | ||
Acquisition of equipment | - | (935) |
Net cash used in investing activities | - | (935) |
FINANCING ACTIVITIES | ||
Advances from related parties | 9,875 | 22,790 |
Net cash provided by financing activities | 9,875 | 22,790 |
Net Increase in cash during the period | - | 175 |
Cash, beginning of period | - | - |
Cash, end of period | - | 175 |
See accompanying notes |
Page | 3
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Rimrock Gold Corp. published this content on 27 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 June 2022 15:04:05 UTC.