BLOCKMINT TECHNOLOGIES INC. BLOCKMINT TECHNOLOGIES INC.
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
THREE MONTHS ENDED MARCH 31, 2023
(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 | |||
March 31, | December 31, | |||
2023 | 2022 | |||
ASSETS | ||||
Current assets | $ | 1,602,310 | ||
Cash | $ | 1,636,966 | ||
Receivables | 3,701 | 4,994 | ||
Prepaid expenses | 11,750 | 11,750 | ||
Digital currency (note 4) | 160,730 | 92,744 | ||
Total assets | $ | 1,778,491 | $ | 1,746,454 |
EQUITY AND LIABILITIES | ||||
Current liabilities | $ | 45,502 | ||
Accounts payable and accrued liabilities (note 10) | $ | 41,062 | ||
Total liabilities | 45,502 | 41,062 | ||
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 | ||
Foreign currency translation reserve | 13,495 | 13,495 | ||
Deficit | (8,327,295) | (8,372,392) | ||
Total equity | 1,732,989 | 1,705,392 | ||
Total equity and liabilities | $ | 1,778,491 | $ | 1,746,454 |
Nature of operations and going concern (note 1)
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 Income (loss)
(Expressed in United States Dollars)
Unaudited
Three Months | Three Months | |||
Ended | Ended | |||
March 31, | March 31, | |||
2023 | 2022 | |||
(Restated | ||||
Operating expenses | (notes 3 and 12) | |||
$ | 4,154 | |||
Business development and promotion | $ | 15,871 | ||
Consulting (note 10) | 10,176 | 14,548 | ||
Director, management fees and salaries (note 10) | 14,622 | 38,637 | ||
Office and miscellaneous | 5,764 | 5,573 | ||
Professional fees (note 10) | 6,928 | 5,782 | ||
Salaries and wages | 987 | 4,446 | ||
Total operating expenses | 42,631 | 84,857 | ||
Loss before other items | (42,631) | (84,857) | ||
Foreign exchange (loss) gain | 2,242 | 8,332 | ||
Net loss for the period | (40,389) | (76,525) | ||
Discontinued operations | 67,986 | |||
Net income (loss) from discontinued operations (note 3) | (13,719) | |||
Total income (loss) and comprehensive income (loss) for the period | $ | 27,597 | $ | (90,244) |
Basic and diluted net income (loss) per share | ||||
- continuing operations | $ | (0.00) | $ | (0.00) |
- discontinuing operations | $ | 0.00 | $ | (0.00) |
Basic and diluted net income (loss) per share (note 11) | $ | 0.00 | $ | (0.00) |
Weighted average number of common shares outstanding | 48,242,605 | 48,242,605 |
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
Three Months | Three Months | |||
Ended | Ended | |||
March 31, | March 31, | |||
2023 | 2022 | |||
Operating activities | $ | 27,597 | ||
Net income (loss) for the period | $ | (90,244) | ||
Adjustments for: | - | |||
Depreciation | 97,515 | |||
Digital currency mined | - | (85,309) | ||
Revaluation of digital currency | (67,986) | (8,542) | ||
Interest expense | - | 8,134 | ||
Changes in non-cash working capital items: | 1,293 | |||
Receivables and prepaid expenses | 2,762 | |||
Accounts payable and accrued liabilities | 4,440 | (2,648) | ||
Net cash used in operating activities | (34,656) | (78,332) | ||
Financing activities | - | |||
Proceeds from issuance of common shares | - | |||
Lease payments paid | - | (32,254) | ||
Net cash used in financing activities | - | (32,254) | ||
Net change in cash | (34,656) | (110,586) | ||
Cash, beginning of period | 1,636,966 | 2,032,371 | ||
Cash, end of period | $ | 1,602,310 | $ | 1,921,785 |
Operating activities | (34,656) | |||
- continued operations | (87,161) | |||
- discontinued operations | - | 8,829 | ||
Investing activities | - | |||
- continued operations | - | |||
Financing activities | - | |||
- continued operations | - | |||
- discontinued operations | - | (32,254) | ||
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, 2021 | $ | 9,661,389 | $ | 17,500 | $ | 385,400 | $ | 13,495 | $ | (7,528,573) | $ | 2,549,211 |
Net loss for the period | - | - | - | - | (90,244) | (90,244) | ||||||
Balance, March 31, 2022 | $ | 9,661,389 | $ | 17,500 | $ | 385,400 | $ | 13,495 | $ | (7,618,817) | $ | 2,458,967 |
Balance, December 31, 2022 | 9,661,389 | 17,500 | 385,400 | 13,495 | (8,372,392) | 1,705,392 | ||||||
Warrants expired | - | (17,500) | - | - | 17,500 | - | ||||||
Net income for the period | - | - | - | - | 27,597 | 27,597 | ||||||
Balance, March 31, 2023 | $ | 9,661,389 | $ | - | $ | 385,400 | $ | 13,495 | $ | (8,327,295) | $ | 1,732,989 |
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 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 May 2023 22:37:30 UTC.
