Blockmint Technologies : Interim Financial Statements for the three months ended June 30, 2022

BLOCKMINT TECHNOLOGIES INC.

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

THREE AND SIX MONTHS ENDED

JUNE 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
		June 30,	December 31,
		2022		2021
ASSETS
Current assets	$	1,768,091
Cash	$	2,032,371
Receivables		8,609		9,240
Prepaid expenses		11,750		11,750
Digital currency (note 4)		88,787		31,949
Total current assets		1,877,237		2,085,310
Non-current assets		380,839
Equipment (note 5)			515,252
Right of use asset (note 6)		101,843		159,926
Total assets	$	2,359,919	$	2,760,488
EQUITY AND LIABILITIES
Current liabilities	$	46,037
Accounts payable and accrued liabilities (note 10)	$	50,547
Current lease liability (note 6)		110,380		109,500
Total current liabilities		156,417		160,047
Non-current liability		-
Lease liability (note 6)			51,230
Total liabilities		156,417		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		(7,874,282)		(7,528,573)
Total equity		2,203,502		2,549,211
Total equity and liabilities	$	2,359,919	$	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		Six Months	Six Months
		Ended		Ended		Ended		Ended
		June 30,		June 30,		June 30,		June 30,
		2022		2021		2022		2021
Revenue	$	56,780			$	142,089
Digital currency mined	$	-	$	-
Cost of revenue		(1,920)				(3,842)
Site operating cost			-			-
Depreciation (notes 5 and 6)		(94,982)		-		(192,497)		-
		(40,122)		-		(54,250)		-
Operating expenses		7,043				22,914
Business development and promotion			63,311			123,940
Consulting (note 10)		29,093		113,436		43,641		203,137
Director, management fees and salaries (note 10)	38,636		37,800		77,273		81,300
Office and miscellaneous		9,734		8,902		15,307		13,611
Professional fees (note 10)		14,065		14,241		19,847		20,191
Salaries and wages		3,526		3,955		7,972		10,533
Share-based payments (note 8)		-		-		-		355,100
Total operating expenses		102,097		241,645		186,954		807,812
Loss before other items		(142,219)		(241,645)		(241,204)		(807,812)
Interest expense		(3,079)		-		(11,213)		-
Foreign exchange (loss) gain		(16,372)		10,056		(8,041)		26,850
Revaluation of digital currency (note 4)		(93,794)		-		(85,251)		-
Total loss and comprehensive loss for the period $	(255,464)	$	(231,589)	$	(345,709)	$	(780,962)
Basic and diluted net loss per share (note 11)	$	(0.01)	$	(0.00)	$	(0.01)	$	(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

	Six Months	Six Months
		Ended		Ended
		June 30,		June 30,
		2022		2021
Operating activities	$	(345,709)
Net loss for the period	$	(780,962)
Adjustments for:		192,497
Depreciation			-
Share-based payments (note 8)		-		355,100
Revaluation of digital currency		85,251		-
Interest expense		11,213		-
Changes in non-cash working capital items:		631
Receivables and prepaid expenses			(7,688)
Digital currency		(142,089)		-
Accounts payable and accrued liabilities		(4,511)		10,075
Net cash used in operating activities		(202,717)		(423,475)
Financing activities		-
Proceeds from issuance of common shares			782,800
Share issue costs		-		(5,844)
Lease payments paid		(61,563)		-
Net cash provided by (used in) financing activities		(61,563)		776,956
Net change in cash		(264,280)		353,481
Cash, beginning of period		2,032,371		2,600,962
Cash, end of period	$	1,768,091	$	2,954,443
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		-		-		-		-		(780,962)		(780,962)
Balance, June 30, 2021	$	9,661,389	$	17,500	$	385,400	$	13,495	$	(7,183,162)	$	2,894,622
Balance, December 31, 2021		9,661,389		17,500		385,400		13,495		(7,528,573)		2,549,211
Net loss for the period		-		-		-		-		(345,709)		(345,709)
Balance, June 30, 2022	$	9,661,389	$	17,500	$	385,400	$	13,495	$	(7,874,282)	$	2,203,502

The accompanying notes to the unaudited condensed consolidated interim financial statements are an integral part of these statements.

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