DeepMarkit : Interim Financial Report

DeepMarkit Corp.

Condensed Interim Consolidated Financial Statements March 31, 2022

(Unaudited)

(In Canadian dollars)

Notice of No Auditor Review of

Condensed Interim Financial Statements

In accordance with National Instrument 51-102 released by the Canadian Securities Administrators, the Company discloses that its auditors have not reviewed these unaudited condensed interim consolidated financial statements as at and for the three months ended March 31, 2022.

DeepMarkit Corp.

Condensed Interim Consolidated Statements of Financial Position (Unaudited)

(In Canadian dollars)

			March 31		December 31
As at		2022		2021
Assets
Current assets
Cash and cash equivalents	$	3,490,098	$	501,472
Accounts receivable		78,693		24,473
Prepaid expenses		739,959		83,350
Total current assets		4,308,750		609,295
Deferred transaction costs		-		32,824
Property and equipment		5,440		5,881
Intangible assets (Note 5)		4,632,049			-
Total assets	$	8,946,239	$	648,000
Liabilities
Accounts payable and accrued liabilities	$	597,220	$	336,778
CEBA loan (Note 6)		-		34,783
Total current liabilities		597,220		371,561
CEBA loan (Note 6)		36,002			-
Total liabilities		633,222		371,561
Shareholders' equity
Share capital (Note 7)		30,222,631		21,567,598
Contributed surplus		4,017,313		2,035,728
Deficit		(25,926,927)		(23,326,887)
Total shareholders' equity		8,313,017		276,439
Total liabilities and shareholders' equity	$	8,946,239	$	648,000
Going concern (Note 1)
Approved on behalf of the Board of Directors:
{Signed}	{Signed}
Darold H. Parken, Director	Paul McKenzie, Director

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

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DeepMarkit Corp.

Condensed Interim Consolidated Statements of Loss and Comprehensive Loss (Unaudited)

(In Canadian dollars)

For the three months ended March 31		2022		2021
Revenue	$	305	$	950
Expenses
Wages and benefits		55,862		45,844
General and administrative		505,224		12,495
Professional fees		148,952		5,001
Listing and filing fees		20,172		10,948
Share-based payments (Note 9)		1,867,045		-
Finance (Note 11)		801		44,879
Amortization		441		630
Foreign exchange		1,848		-
Total expenses		2,600,345		119,797
Loss and comprehensive loss	$	(2,600,040)	$	(118,847)
Loss per share - basic and diluted (Note 10)	$	(0.02)	$	(0.01)

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

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DeepMarkit Corp.

Condensed Interim Consolidated Statements of Changes in Shareholders' Equity (Deficiency) (Unaudited)

(In Canadian dollars)

For the three months ended March 31		2022		2021
Share capital
Balance, January 1	$	21,567,598	$	13,926,489
Unit private placements, net of issue costs (Note 7)		3,855,033		-
Acquisition of First Carbon Corp. (Note 4)		4,800,000		-
Balance, March 31		30,222,631		13,926,489
Contributed surplus
Balance, January 1		2,035,728		2,035,728
Warrants issued (Note 7)		114,540		-
Share-based payments (Note 9)		1,867,045		-
Balance, March 31		4,017,313		2,035,728
Deficit
Balance, January 1		(23,326,887)		(18,562,160)
Loss for the period		(2,600,040)		(118,847)
Balance, March 31		(25,926,927)		(18,681,007)
Total shareholders' equity (deficiency)	$	8,313,017	$	(2,718,790)

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

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