TOP STRIKE RESOURCES CORP.
Condensed Interim Financial Statements (unaudited) Three and Nine months ended January 31, 2022 and 2021
(Expressed in Canadian dollars)
Notice
Top Strike Resources' auditor, MNP LLP, has not reviewed the condensed interim financial statements.
Condensed Interim Statements of Financial Position (Expressed in Canadian dollars)
As at
ASSETS
Current Assets
Cash
Note receivable
Trade and other receivables
Prepaids
Non-Current Assets Deposits
Equipment Investments
January 31, 2022
April 30, 2021
Notes
4
$
6,844,639 $ 2,916,208
8,981 6,911
23,740 16,617
723,943 2,469,958
9,793,568
3,217,429
2,500 2,500
4,447 5,243
5
-
6,784,547
TOTAL ASSETSLIABILITIES Current liabilities
Accounts payable and accrued liabilities Unearned interest
Non-Current liabilities Loan
Convertible debenture - debt component Convertible debenture - derivative component TOTAL LIABILITIES
SHAREHOLDERS' EQUITY
Share capital Warrants Contributed surplus Deficit
Treasury stock
TOTAL SHAREHOLDERS' EQUITYTOTAL LIABILITIES AND
SHAREHOLDERS' EQUITY
6 7 7
8
See accompanying notes to the condensed interim financial statements.
$
9,800,515
$
10,009,719
244,249 173,576
- 12,787
244,249 186,363
27,229 25,187
1,628,403 (188,262) 1,711,619
1,552,350 323,664 2,087,564
21,968,258 21,976,797
4,556,922 4,556,922
1,888,652 1,879,212
(20,324,936)
- 8,088,896
(20,485,420)
(5,356) 7,922,155
$
9,800,515
$
10,009,719
Condensed Interim Statements of Income (Loss) and Comprehensive Income (Loss) (Expressed in Canadian dollars)
Revenues
Interest income
Notes
Change in fair market value of investments and financial instruments:
Unrealized (loss) gain on investments And derivative instruments 5,7 Unrealized (loss) gain on foreign exch.
Expenses
Office and miscellaneous
Depreciation
Professional fees
Corporate communication
Rent and parking
Travel
Salaries and benefits
Meals and entertainment
Interest and bank charges
2022
Conferences - 664
Share-based compensation - 4,719
Income (loss) and comprehensive income (loss) for the period
Earnings (loss) per share
Basic and diluted
Weighted average number of common shares outstanding
Basic and diluted
9
$
124,833
(63,070) (351,000)
89,507 (203,260)
151,270
2,091 9,759
263 255
53,548 6,727
14,157 14,139
6,739 6,735
405
158,423 145,077
1,006 1,036
38,683 62,485
275,315
$
(124,045)
$
(0.00)
181,311,749
See accompanying notes to the condensed interim financial statements.
Three months | |
ended | |
January 31 | |
2021 | 2022 |
480,353 | 403,877 |
316,973 | (340,600) |
157,695 | (414,812) |
955,021 | (351,536) |
6,857 | 15,237 |
796 | 819 |
157,038 | 71,247 |
47,125 | 25,590 |
20,736 | 19,533 |
7,704 | - |
423,872 | 352,431 |
9,786 | 3,293 |
111,183 | 145,037 |
- | 869 |
9,440 | 64,029 |
794,537 | 697,185 |
160,484 | |
0.00 |
142,842
$
(411,419)
-251,596
$
(663,014)
$
(0.00)
181,632,694
$
Nine months ended January 31 2021
$
$
$
$ (1,049,620)
$
(0.00)
181,379,336
181,527,006
TOP STRIKE RESOURCES CORP.
Condensed Interim Statements of Changes in Shareholders' Equity (Expressed in Canadian dollars)
Total | |||||||
Shares | Contributed | Treasury | shareholders' | ||||
outstanding | Share capital | Warrants | surplus | Deficit | stock | equity | |
Balance at May 1, 2021 | 181,411,390 | $21,976,797 | $4,556,922 | $1,879,212 | $(20,485,420) | (5,356) | $7,922,155 |
Share base compensation | - | - | - | 9,440 | - | - | 9,440 |
Shares held in treasury | - | (5,356) | - | - | - | 5,356 | - |
Shares cancelled | (103,000) | (3,183) | - | - | - | - | (3,183) |
Income and comprehensive | |||||||
income for the period | - | - | - | - | 164,484 | - | 160,484 |
Balance at January 31, | |||||||
2022 | 181,308,390 | $21,968,258 | $4,556,922 | $1,888,652 | $(20,324,936) | - | $8,088,896 |
Balance at May 1, 2020 | 181,991,390 | $21,984,522 | $4,556,922 | $1,810,617 | $(19,134,232) | - | $9,217,829 |
Share base compensation | - | - | - | 64,029 | - | - | 64,029 |
Shares purchased (NCIB) | (500,000) | - | - | - | - | (7,725) | (7,725) |
Loss and comprehensive loss | |||||||
for the period | - | - | - | - | (1,049,620) | - | (1,049,620) |
Balance at January 31, | |||||||
2021 | 181,491,390 | $21,984,522 | $4,556,922 | $1,874,646 | $(20,183,852) | (7,725) | $8,224,513 |
See accompanying notes to the condensed interim financial statements.
Condensed Interim Statements of Cash Flows (Expressed in Canadian dollars)
Three months | Nine months | |||
Ended | Ended | |||
January 31 | January 31 | |||
2022 | 2021 | 2022 | 2021 | |
Operating activities | ||||
Net income (loss) for the period | (124,045) | $ (663,014) | $ 160,484 | $ (1,049,620) |
Adjustments for: | ||||
Interest income | - | (142,842) | (78,204) | (403,877) |
Depreciation | 263 | 255 | 796 | 819 |
Share-based compensation | - | 4,719 | 9,440 | 64,029 |
Unrealized gain on investments and financial | ||||
instruments | 63,070 | 351,000 | (316,973) | 340,600 |
Unrealized foreign exchange loss (gain) | (78,644) | 203,260 | (181,838) | 414,812 |
Loan accretion | 680 | 62,068 | 2,042 | 143,752 |
Government grants | - | (1,676) | - | (12,732) |
Prepaids | (11,149) | (16,008) | (7,123) | (22,649) |
Trade and other receivables | (1,063) | 11,380 | (2,069) | 12,011 |
Unearned interest | - | - | (12,787) | - |
Accounts payable and accrued liabilities | (28,846) | (15,061) | 65,055 | (38,845) |
(179,734) | (205,919) | (361,177) | (551,700) | |
Changes in non-cash working capital items: | ||||
Settlement of convertible promissory notes | - | - | 6,838,699 | - |
Interest received | (124,833) | 40,144 | (353,642) | 93,623 |
Net cash from (used) in operating activities | (304,567) | (165,775) | 6,123,880 | (458,077) |
Financing activities | ||||
Loan proceeds | - | - | - | 40,000 |
Advance to related parties | - | - | - | 165 |
Purchase of treasury stock | (3,183) | (7,725) | (3,183) | (7,725) |
Net cash from (used) in financing activities | (3,183) | (7,725) | (3,183) | 32,440 |
Change in cash and cash equivalents for the period | (307,750) | (173,500) | 6,120,697 | (425,637) |
Cash and cash equivalents, beginning of period | 7,152,389 | 3,493,785 | 723,942 | 3,745,922 |
Cash and cash equivalents, end of period | $ 3,320,285 | $ 6,844,639 | $ 3,320,285 |
Notes
$
$ 6,844,639
See accompanying notes to the condensed interim financial statements.
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Top Strike Resources Corp. published this content on 31 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 April 2022 00:18:55 UTC.