BLOCKMINT TECHNOLOGIES INC. BLOCKMINT TECHNOLOGIES INC.
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
THREE AND NINE MONTHS ENDED
SEPTEMBER 30, 2022
(EXPRESSED IN UNITED STATES DOLLARS)
(UNAUDITED)
Notice To Reader
The accompanying unaudited condensed consolidated interim financial statements of BlockMint Technologies Inc. have been prepared by and are the responsibility of management. The unaudited condensed consolidated interim financial statements have not been reviewed by the Company's auditors.
BlockMint Technologies Inc.
Condensed Interim Consolidated Statements of Financial Position
(Expressed in United States Dollars)
Unaudited
As at | As at | |||
September 30, | December 31, | |||
2022 | 2021 | |||
ASSETS | ||||
Current assets | $ | 1,676,095 | ||
Cash | $ | 2,032,371 | ||
Receivables | 3,110 | 9,240 | ||
Prepaid expenses | 11,750 | 11,750 | ||
Digital currency (note 4) | 109,671 | 31,949 | ||
Total current assets | 1,800,626 | 2,085,310 | ||
Non-current assets | - | |||
Equipment (note 5) | 515,252 | |||
Right of use asset (note 6) | - | 159,926 | ||
Total assets | $ | 1,800,626 | $ | 2,760,488 |
EQUITY AND LIABILITIES | ||||
Current liabilities | $ | 45,297 | ||
Accounts payable and accrued liabilities (note 10) | $ | 50,547 | ||
Current lease liability (note 6) | - | 109,500 | ||
Total current liabilities | 45,297 | 160,047 | ||
Non-current liability | - | |||
Lease liability (note 6) | 51,230 | |||
Total liabilities | 45,297 | 211,277 | ||
Equity | 9,661,389 | |||
Share capital (note 7) | 9,661,389 | |||
Share-based payment reserve (note 8) | 385,400 | 385,400 | ||
Warrant reserve (note 9) | 17,500 | 17,500 | ||
Foreign currency translation reserve | 13,495 | 13,495 | ||
Deficit | (8,322,455) | (7,528,573) | ||
Total equity | 1,755,329 | 2,549,211 | ||
Total equity and liabilities | $ | 1,800,626 | $ | 2,760,488 |
Nature of operations and going concern (note 1)
"Nelson Ijih", Director
"Colin Watt", Director
The accompanying notes to the unaudited condensed consolidated interim financial statements are an integral part of these statements.
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BlockMint Technologies Inc.
Condensed Interim Consolidated Statements of Loss and Comprehensive Loss
(Expressed in United States Dollars)
Unaudited
Three Months | Three Months | Nine Months | Nine Months | |||||
Ended | Ended | Ended | Ended | |||||
September 30, | September 30, | September 30, September 30, | ||||||
2022 | 2021 | 2022 | 2021 | |||||
Revenue | $ | 25,408 | $ | 167,497 | ||||
Digital currency mined | $ | - | $ | - | ||||
Cost of revenue | (1,280) | (5,122) | ||||||
Site operating cost | - | - | ||||||
Depreciation (notes 5 and 6) | (63,321) | - | (255,818) | - | ||||
(39,193) | - | (93,443) | - | |||||
Operating expenses | 6,212 | 29,126 | ||||||
Business development and promotion | 34,826 | 158,766 | ||||||
Consulting (note 10) | 12,856 | 108,488 | 56,497 | 311,625 | ||||
Director, management fees and salaries (note 10) | 25,949 | 37,311 | 103,222 | 118,611 | ||||
Office and miscellaneous | (5,363) | 8,005 | 9,944 | 21,616 | ||||
Professional fees (note 10) | 8,291 | 6,680 | 28,138 | 26,871 | ||||
Salaries and wages | (11,981) | 5,535 | (4,009) | 16,068 | ||||
Share-based payments (note 8) | - | - | - | 355,100 | ||||
Total operating expenses | 35,964 | 200,845 | 222,918 | 1,008,657 | ||||
Loss before other items | (75,157) | (200,845) | (316,361) | (1,008,657) | ||||
Interest expense | (3,408) | - | (14,621) | - | ||||
Foreign exchange (loss) gain | (35,071) | (17,768) | (43,112) | 9,082 | ||||
Loss on sale of assets (note 6) | (336,034) | - | (336,034) | - | ||||
Revaluation of digital currency (note 4) | (4,524) | - | (89,775) | - | ||||
Gain on termination of lease (note 6) | 6,021 | - | 6,021 | - | ||||
Total loss and comprehensive loss for the period $ | (448,173) | $ | (218,613) | $ | (793,882) | $ | (999,575) | |
Basic and diluted net loss per share (note 11) | $ | (0.01) | $ | (0.00) | $ | (0.02) | $ | (0.02) |
Weighted average number of common shares | ||||||||
outstanding | 48,242,605 | 48,242,605 | 48,242,605 | 47,649,867 |
The accompanying notes to the unaudited condensed consolidated interim financial statements are an integral part of these statements.
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BlockMint Technologies Inc.
Condensed Interim Consolidated Statements of Cash Flows
(Expressed in United States Dollars)
Unaudited
Nine Months | Nine Months | |||
Ended | Ended | |||
September 30, September 30, | ||||
2022 | 2021 | |||
Operating activities | $ | (793,882) | ||
Net loss for the period | $ | (999,575) | ||
Adjustments for: | 255,818 | |||
Depreciation | - | |||
Share-based payments (note 8) | - | 355,100 | ||
Revaluation of digital currency | 89,775 | - | ||
Loss on sale of assets | 336,034 | - | ||
Interest expense | 14,621 | - | ||
Gain on termination of lease | (6,021) | - | ||
Changes in non-cash working capital items: | 6,130 | |||
Receivables and prepaid expenses | (2,802) | |||
Digital currency | (167,497) | - | ||
Accounts payable and accrued liabilities | (5,251) | (25,510) | ||
Net cash used in operating activities | (270,273) | (672,787) | ||
Financing activities | - | |||
Proceeds from issuance of common shares | 782,800 | |||
Share issue costs | - | (5,844) | ||
Lease payments paid | (86,003) | - | ||
Net cash provided by (used in) financing activities | (86,003) | 776,956 | ||
Net change in cash | (356,276) | 104,169 | ||
Cash, beginning of period | 2,032,371 | 2,600,962 | ||
Cash, end of period | $ | 1,676,095 | $ | 2,705,131 |
Supplemental information: | $ | - | ||
Interest paid | $ | - | ||
Income taxes paid | - | - |
The accompanying notes to the unaudited condensed consolidated interim financial statements are an integral part of these statements.
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BlockMint Technologies Inc.
Condensed Interim Consolidated Statements of Changes in Equity
(Expressed in United States Dollars)
Unaudited
Share-based Foreign currency | ||||||||||||
Share | Warrant | payment | translation | |||||||||
capital | reserve | reserve | reserve | Deficit | Total | |||||||
Balance, December 31, 2020 | $ | 8,884,433 | $ | 17,500 | $ | 30,300 | $ | 13,495 | $ | (6,402,200) | $ | 2,543,528 |
Private placement | 808,726 | - | - | - | - | 808,726 | ||||||
Share issue costs | (31,770) | - | - | - | - | (31,770) | ||||||
Share-based compensation | - | - | 355,100 | - | - | 355,100 | ||||||
Net loss for the period | - | - | - | - | (999,575) | (999,575) | ||||||
Balance, September 30, 2021 | $ | 9,661,389 | $ | 17,500 | $ | 385,400 | $ | 13,495 | $ | (7,401,775) | $ | 2,676,009 |
Balance, December 31, 2021 | 9,661,389 | 17,500 | 385,400 | 13,495 | (7,528,573) | 2,549,211 | ||||||
Net loss for the period | - | - | - | - | (793,882) | (793,882) | ||||||
Balance, September 30, 2022 | $ | 9,661,389 | $ | 17,500 | $ | 385,400 | $ | 13,495 | $ | (8,322,455) | $ | 1,755,329 |
The accompanying notes to the unaudited condensed consolidated interim financial statements are an integral part of these statements.
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BlockMint Technologies Inc. published this content on 30 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 November 2022 02:53:11 UTC.
