EAT & BEYOND GLOBAL HOLDINGS INC. EAT BEYOND GLOBAL HOLDINGS INC.
CONDENSED INTERIM FINANCIAL STATEMENTS
For the nine months ended September 30, 2021
(Expressed in Canadian Dollars)
(Unaudited)
EAT BEYOND GLOBAL HOLDINGS INC.
Condensed Interim Statements of Financial Position As at September 30, 2021 and December 31, 2020 (Expressed in Canadian Dollars)
(Unaudited)
. | September 30, | December 31, | ||
2021 | 2020 | |||
ASSETS | ||||
Current | ||||
Cash | $ | 1,446,634 | $ | 1,092,156 |
Prepaid expenses | 30,915 | 71,229 | ||
Marketable securities (Note 3) | 2,426,746 | 1,654,335 | ||
Convertible notes receivables (Note 3) | 150,753 | 403,553 | ||
$ | 4,055,048 | $ | 3,221,273 | |
LIABILITIES | ||||
Current | ||||
Accounts payable and accrued liabilities (Notes 4 and 5) | $ | 325,627 | $ | 105,814 |
SHAREHOLDERS' EQUITY | ||||
Share capital (Note 6) | 7,150,859 | 3,296,142 | ||
Reserves | 1,237,929 | 1,823,419 | ||
Deficit | (4,659,368) | (2,004,102) | ||
3,729,420 | 3,115,459 | |||
$ | 4,055,047 | $ | 3,221,273 |
Nature of operations and going concern (Note 1)
Subsequent event (Note 6)
These financial statements were approved by the Board of Directors on November 26, 2021
"Alexander Somjen" | "Ravinder Kang" | |
Alexander Somjen, Director | Ravinder Kang, Director |
2
See accompanying notes to the condensed interim financial statements
EAT BEYOND GLOBAL HOLDINGS INC.
Condensed Interim Statements of Loss and Comprehensive Loss For the three and nine months ended September 30, 2021 and 2020 (Expressed in Canadian Dollars)
(Unaudited)
For the three months ended | For the nine months ended | |||||||
September 30, | September 30, | |||||||
2021 | 2020 | 2021 | 2020 | |||||
Investment income | ||||||||
Interest earned | $ | 1,435 | $ | - | $ | 10,354 | $ | - |
Realized gain on disposition of | - | - | 160,825 | - | ||||
marketable securities (Note 3) | ||||||||
Gain (loss) on fair value of marketable | (86,439) | (89,045) | 134,926 | 163,263 | ||||
securities | ||||||||
Total investment income (loss) | (85,004) | (89,045) | 306,105 | 163,263 | ||||
Operating expenses | ||||||||
Consulting fees (Note 5) | 96,453 | 45,756 | 817,248 | 99,831 | ||||
Foreign exchange (recovery) loss | (3,040) | - | 925 | - | ||||
Listing and transfer agent fees | 36,214 | 3,675 | 57,043 | 3,675 | ||||
Marketing and promotion | 61,017 | 24,461 | 1,299,550 | 81,055 | ||||
Office and administration | 23,730 | 90 | 29,009 | 449 | ||||
Professional fees | 119,342 | 36,250 | 189,271 | 161,639 | ||||
Share-based payments (Notes 5 and 6) | 63,014 | - | 475,251 | - | ||||
Travel | 3,530 | - | 6,478 | 5,414 | ||||
Wages and benefits (Note 5) | 73,930 | - | 86,596 | - | ||||
(474,190) | (125,232) | (2,961,371) | (352,063) | |||||
Net loss and comprehensive loss for the | ||||||||
period | (559,194) | (214,277) | (2,655,266) | (188,800) | ||||
Basic and diluted loss per share | (0.02) | (0.01) | (0.09) | (0.03) | ||||
Weighted average number of common | ||||||||
shares outstanding | 33,998,719 | 15,518,584 | 31,190,942 | 9,047,392 |
3
See accompanying notes to the condensed interim financial statements
EAT BEYOND GLOBAL HOLDINGS INC.
Condensed Interim Statements of Changes in Shareholders' Equity For the nine months ended September 30, 2021 and 2020 (Expressed in Canadian Dollars)
(Unaudited)
Share | Total | ||||||||||||
Number of | Share | Special | Subscriptions | Shareholders' | |||||||||
Shares | Capital | Warrants | Received/ | Reserve | Deficit | Equity | |||||||
(Receivable) | |||||||||||||
Balance, December 31, 2019 | 1 | $ | - | $ | - | $ | 177,025 | $ | - | $ | (44,512) | $ | 132,513 |
Incorporator share returned to | (1) | - | - | - | - | - | - | ||||||
treasury | |||||||||||||
Private placement | 15,518,510 | 1,768,255 | - | (177,025) | - | - | 1,591,230 | ||||||
Share issue cost | - | (104,773) | - | - | - | - | (104,773) | ||||||
Agent's warrants issued | - | (54,800) | - | - | 54,800 | - | - | ||||||
Special warrants issued for cash | - | - | 1,693,930 | - | - | - | 1,693,930 | ||||||
Special warrants converted | 252,200 | 12,610 | (12,610) | - | - | - | 12,610 | ||||||
Net income for the period | - | - | - | - | - | (188,800) | (188,800) | ||||||
Balance, September 30, 2020 | 15,770,710 | $ | 1,621,292 | $ | 1,681,320 | $ | - | $ | 54,800 | $ | (233,312) | $ | 3,136,710 |
Balance, December 31, 2020 | 19,779,917 | $ | 3,296,142 | $ | - | $ | - | $ | 1,823,419 | $ | (2,004,102) | $ | 3,115,459 |
Private placement | 541,270 | 920,159 | - | - | 211,095 | - | 1,131,254 | ||||||
Exercise of share purchase warrants | 11,735,619 | 681,222 | - | - | - | - | 681,222 | ||||||
Exercise of stock options | 1,963,000 | 981,500 | - | - | - | - | 981,500 | ||||||
Transfer of fair value on agent's | |||||||||||||
warrants exercised | - | 54,776 | - | - | (54,776) | - | - | ||||||
Transfer of fair value on stock options | |||||||||||||
exercised | - | 1,217,060 | - | - | (1,217,060) | - | - | ||||||
Share based payments | - | - | - | - | 475,251 | - | 475,251 | ||||||
Net loss for the period | - | - | - | - | - | (2,655,266) | (2,655,266) | ||||||
Balance, September 30, 2021 | 34,019,806 | $ | 7,150,859 | $ | - | $ | - | $ | 1,237,929 | $ | (4,659,368) | $ | 3,729,420 |
4
See accompanying notes to the condensed interim financial statements
EAT BEYOND GLOBAL HOLDINGS INC. Condensed Interim Statements of Cash Flows
For the nine months ended September 30, 2021 and 2020 (Expressed in Canadian Dollars)
(Unaudited)
2021 | 2020 | |||
Operating Activities | ||||
Net (loss) income for the period | $ | (2,655,266) | $ | (188,800) |
Items not affecting cash: | ||||
Foreign exchange | 1,353 | - | ||
Interest receivable | (10,354) | - | ||
Share-based payments | 475,251 | - | ||
Gain (loss) on fair value of marketable securities | (134,926) | (163,263) | ||
Realized gain on disposal of marketable securities | (160,825) | - | ||
Changes in non-cash working capital items related to operations: | ||||
Prepaid expenses | 40,314 | (945) | ||
Accounts payable and accrued liabilities | 219,814 | 136,674 | ||
Cash used in operating activities | (2,224,639) | (216,334) | ||
Investing Activities | ||||
Proceeds on sale of marketable securities | 420,899 | - | ||
Marketable securities | (635,758) | (550,000) | ||
Convertible note receivable | - | (250,000) | ||
Cash used in investing activities | (214,859) | (800,000) | ||
Financing Activities | ||||
Shares issued for cash net | 2,793,976 | 1,453,335 | ||
Special warrants issued for cash | - | 1,681,320 | ||
Cash provided by financing activities | 2,793,976 | 3,134,655 | ||
Change in cash during the period | 354,478 | 2,118,321 | ||
Cash and cash equivalents, beginning of period | 1,092,156 | 132,513 | ||
Cash and cash equivalents, end of the period | $ | 1,446,634 | $ | 2,250,834 |
Supplemental Disclosure of Cash Flow Information: | ||||
Cash paid during the period: | ||||
Interest | $ | - | $ | - |
Income taxes | $ | - | $ | - |
Non-cash transactions | ||||
Fair value on transfer from reserves on stock options exercised | $ | 1,271,836 | $ | - |
Fair value of share purchase warrants | $ | 211,095 | $ | - |
Conversion of convertible note receivable | $ | 261,801 | $ | - |
Fair value of share issuance cost included in accounts payable | $ | - | $ | 12,000 |
Cash and cash equivalents consist of: | ||||
Cash | $ | 1,242,032 | $ | 1,191,059 |
Funds in brokerage account | 175,890 | - | ||
Funds held in a trust | 28,712 | 1,059,775 | ||
Cash and cash equivalents | $ | 1,446,634 | $ | 2,250,834 |
5
See accompanying notes to the condensed interim financial statements
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Eat Beyond Global Holdings Inc. published this content on 26 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 November 2021 22:19:04 UTC.
