AZTEC MINERALS CORP. AZTEC MINERALS CORP.
Second Quarter Report
Condensed Consolidated Interim Financial Statements
(stated in Canadian dollars)
Three and Six Months ended June 30, 2023
(Unaudited - Prepared by Management)
Notice of No Auditor Review of
Unaudited Condensed Consolidated Interim Financial Statements
For the Three and Six Months Ended June 30, 2023
In accordance with National Instrument 51-102 Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of these unaudited condensed consolidated interim financial statements, they must be accompanied by a notice indicating that the unaudited condensed consolidated interim financial statements have not been reviewed by an auditor.
The accompanying unaudited condensed consolidated interim financial statements of Aztec Minerals Corp. (the "Company") for the three and six months ended June 30, 2023 (the "Financial Statements") have been prepared by and are the responsibility of the Company's management, and have not been reviewed by the Company's auditors. The Financial Statements are stated in Canadian dollars, unless otherwise indicated, and are prepared in accordance with International Accounting Standards 34 ("IAS 34") and International Financial Reporting Standards ("IFRS").
AZTEC MINERALS CORP.
(An Exploration Stage Company)
Condensed Consolidated Interim Statements of Financial Position (Unaudited - Prepared by Management)
(Stated in Canadian dollars)
June 30, | December 31, | ||||
Notes | 2023 | 2022 | |||
ASSETS | |||||
Current Assets | |||||
Cash | $ | 466,664 | $ | 1,471,056 | |
Receivables | 6 | 150,551 | 304,531 | ||
Prepaids, current | 126,144 | 130,561 | |||
Total Current Assets | 743,359 | 1,906,148 | |||
Non-Current Assets | |||||
Prepaids, non-current | 63,386 | 40,514 | |||
Mineral property interests | 6, 8(b), 10 | 10,673,483 | 9,030,358 | ||
Equipment | 7 | 1,833 | 2,280 | ||
Total Non-Current Assets | 10,738,702 | 9,073,152 | |||
Total Assets | $ | 11,482,061 | $ | 10,979,300 | |
LIABILITIES AND SHAREHOLDERS' EQUITY | |||||
Current Liabilities | |||||
Accounts payable and accrued liabilities | 10 | $ | 153,832 | $ | 324,416 |
Shareholders' Equity | |||||
Share capital | 8(b) | 19,499,562 | 18,379,155 | ||
Reserve for share-based payments | 1,605,115 | 1,255,315 | |||
Deficit | (9,776,448) | (8,979,586) | |||
Total Shareholders' Equity | 11,328,229 | 10,654,884 | |||
Total Liabilities and Shareholders' Equity | $ | 11,482,061 | $ | 10,979,300 | |
Nature of operations and going concern (Note 1)
Refer to the accompanying notes to the condensed consolidated interim financial statements.
Approved on behalf of the Board:
/s/ | Simon Dyakowski | /s/ | Patricio Varas | |
Director | Director |
AZTEC MINERALS CORP.
(An Exploration Stage Company)
Condensed Consolidated Interim Statements of Comprehensive Loss (Unaudited - Prepared by Management)
(Stated in Canadian dollars)
Three Months ended June 30, | Six Months ended June 30, | ||||||||
Notes | 2023 | 2022 | 2023 | 2022 | |||||
Expenses: | |||||||||
Accounting and audit | $ | 19 | $ | 11,548 | $ | 19 | $ | 29,075 | |
Amortization | 203 | 449 | 447 | 898 | |||||
Employee and director remuneration | 10 | 60,752 | 146,643 | 151,847 | 217,096 | ||||
Legal | 2,996 | 6,701 | 2,996 | 16,706 | |||||
Office and sundry | 9, 10 | 20,615 | 20,067 | 37,312 | 40,332 | ||||
Regulatory | 23,872 | 33,774 | 47,838 | 51,990 | |||||
Shareholder relations | 114,646 | 210,181 | 258,998 | 379,674 | |||||
Share-based payments | 8(c), 10 | 240,519 | 183,963 | 363,253 | 310,133 | ||||
Operating loss | (463,622) | (613,326) | (862,710) | (1,045,904) | |||||
Interest income | 2,978 | 1,520 | 8,426 | 1,668 | |||||
Foreign exchange gain | 16,271 | 1,931 | 57,422 | 2,267 | |||||
Net loss and comprehensive loss for the period | $ | (444,373) | $ | (609,875) | $ | (796,862) | $ | (1,041,969) | |
Attributable to: | |||||||||
Non-controlling interest | $ | - | $ | (548) | $ | - | $ | (1,041) | |
Shareholders of Aztec Minerals Corp. | (444,373) | (610,423) | (796,862) | (1,043,010) | |||||
Basic and diluted loss per share | $ | - | $ | (0.01) | $ | (0.01) | $ | (0.02) | |
Weighted average number of common shares outstanding | 94,683,806 | 71,389,133 | 93,300,021 | 68,318,931 | |||||
Refer to the accompanying notes to the condensed consolidated interim financial statements.
AZTEC MINERALS CORP.
(An Exploration Stage Company)
Condensed Consolidated Interim Statements of Changes in Shareholders' Equity
(Prepared by Management) (Stated in Canadian dollars)
Share Capital | Reserve for | |||||||||||
Number of | Share-Based | Non-Controlling | ||||||||||
Notes | Shares | Amount | Payments | Deficit | Interest | Total | ||||||
Balance, December 31, 2021 | 64,981,505 | $ | 11,749,159 | $ | 1,576,759 | $ | (6,945,014) | $ | 1,721,367 | $ | 8,102,271 | |
Private placement | 8(b)(ii) | 11,388,089 | 3,359,486 | 56,940 | - | - | 3,416,426 | |||||
Adjustment on acquisition of controlled | 8(b)(ii) | 10,000,000 | 2,400,000 | - | (540,279) | (1,859,721) | - | |||||
subsidiary | ||||||||||||
Share issue expenses | - | (71,967) | - | - | - | (71,967) | ||||||
Exercise of warrants | 2,480,000 | 248,000 | - | - | - | 248,000 | ||||||
Exercise of stock options | 1,300,000 | 694,477 | (557,977) | - | - | 136,500 | ||||||
Expiration of stock options | - | - | (171,601) | 171,601 | - | - | ||||||
Expiration of finders fee warrants | - | - | (73,729) | 73,729 | - | - | ||||||
Share-based payments | - | - | 424,923 | - | - | 424,923 | ||||||
Contributions by non-controlling interest | 6(a) | - | - | - | 96,437 | 96,437 | ||||||
Comprehensive income (loss) for the year | - | - | - | (1,739,623) | 41,917 | (1,697,706) | ||||||
Balance, December 31, 2022 | 90,149,594 | 18,379,155 | 1,255,315 | (8,979,586) | - | 10,654,884 | ||||||
Private placement | 8(b)(i) | 4,378,168 | 1,094,542 | - | - | - | 1,094,542 | |||||
Share issue expenses | - | (11,588) | - | - | - | (11,588) | ||||||
Exercise of stock options | 200,000 | 37,453 | (13,453) | - | - | 24,000 | ||||||
Share-based payments | - | - | 363,253 | - | - | 363,253 | ||||||
Comprehensive income (loss) for the period | - | - | - | (796,862) | - | (796,862) | ||||||
Balance, June 30, 2023 | 94,727,762 | $ | 19,499,562 | $ | 1,605,115 | $ | (9,776,448) | $ | - | $ | 11,328,229 | |
Balance, December 31, 2021 | 64,981,505 | $ | 11,749,159 | $ | 1,576,759 | $ | (6,945,014) | $ | 1,721,367 | $ | 8,102,271 | |
Private placement | 8(b)(i) | 11,388,089 | 3,359,486 | 56,940 | - | - | 3,416,426 | |||||
Share issue expenses | - | (67,406) | - | - | - | (67,406) | ||||||
Exercise of warrants | 2,480,000 | 248,000 | - | - | - | 248,000 | ||||||
Exercise of stock optionis | 1,300,000 | 694,477 | (557,977) | - | - | 136,500 | ||||||
Expiration of stock options | 8(c) | - | - | (171,601) | 171,601 | - | - | |||||
Share-based payments | - | - | 310,133 | - | - | 310,133 | ||||||
Contributions by non-controlling interest | 6(a) | - | - | - | 43,660 | 43,660 | ||||||
Comprehensive income (loss) for the period | - | - | - | (1,043,010) | 1,041 | (1,041,969) | ||||||
Balance, June 30, 2022 | 80,149,594 | $ | 15,983,716 | $ | 1,214,254 | $ | (7,816,423) | $ | 1,766,068 | $ | 11,147,615 | |
Refer to the accompanying notes to the condensed consolidated interim financial statements.
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Aztec Minerals Corp. published this content on 05 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 September 2023 17:51:01 UTC.
