GLOBEX DATA LTD.
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2021 AND 2020 (Expressed in Canadian Dollars)
(Unaudited - Prepared by Management)
NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS
Under National Instrument 51-102, Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of the interim financial statements, they must be accompanied by a notice indicating that the financial statements have not been reviewed by an auditor.
The accompanying unaudited interim financial statements of the Company have been prepared by and are the responsibility of the Company's management.
The Company's independent auditor has not performed a review of these financial statements in accordance with standards established by the Chartered Professional Accountants of Canada for a review of interim financial statements by an entity's auditor.
GLOBEX DATA LTD.
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION (Unaudited)
(Expressed in Canadian Dollars) As at
September 30, 2021 | December 31, 2020 | |||||||
ASSETS | ||||||||
Current | ||||||||
Cash | $ | 8,734,956 | $ | 494,927 | ||||
Receivables | 92,202 | 19,472 | ||||||
Prepaid expenses | 578,782 | 126,848 | ||||||
9,405,940 | 641,247 | |||||||
Non-current | ||||||||
Intangible asset (Note 3) | 2,552,573 | 2,552,573 | ||||||
Total Assets | $ | 11,958,513 | $ | 3,193,820 | ||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||
Current liabilities | ||||||||
Accounts payable and accrued liabilities | $ | 558,077 | $ | 45,784 | ||||
Due to related parties (Note 5) | 14,476 | 2,759 | ||||||
Licensee fees payable (Notes 1, 3 and 5) | 44,652 | 38,248 | ||||||
617,205 | 86,791 | |||||||
Shareholders' equity | ||||||||
Share capital (Note 4) | 18,033,868 | 6,161,300 | ||||||
Shares subscribed (Note 4) | - | 22,780 | ||||||
Reserves (Note 4) | 3,463,239 | 996,016 | ||||||
Deficit | (10,155,799) | (4,073,067) | ||||||
11,341,308 | 3,107,029 | |||||||
Total Liabilities and Shareholders' Equity | $ | 11,958,513 | $ | 3,193,820 | ||||
Nature of operations and going concern (Note 1) | ||||||||
Approved on behalf of the Board of Directors: | ||||||||
"Alain Ghiai" | "Henry Sjöman" | |||||||
Director | Director |
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
GLOBEX DATA LTD.
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF COMPREHENSIVE LOSS (Unaudited)
(Expressed in Canadian Dollars)
Three months | Three months | Nine months | Nine months | |||||
ended | ended | ended | ended | |||||
September 30, | September 30, | September 30, | September 30, | |||||
2021 | 2020 | 2021 | 2020 | |||||
REVENUE (Note 9) | $ | 45,451 | $ | 5,404 | $ | 64,292 | $ | 20,862 |
EXPENSES | ||||||||
Accounting and audit (Note 5) | 12,075 | 9,819 | 40,450 | 32,754 | ||||
Consulting fees | (8,539) | 26,996 | 104,541 | 96,873 | ||||
Legal | 854 | 2,406 | 7,900 | 4,453 | ||||
Licensee fees (Notes 1, 3 and 5) | 4,535 | 540 | 6,397 | 2,086 | ||||
Marketing | 977,700 | 30,595 | 1,931,968 | 123,125 | ||||
Office and administration | 11,621 | 8,924 | 30,273 | 31,448 | ||||
Rent and virtual office | 6,284 | 10,883 | 16,999 | 35,331 | ||||
Share-based payments (Notes 4 and 5) | 2,123,595 | - | 2,787,088 | 100,073 | ||||
Software maintenance (Note 5) | 721,681 | 79,360 | 1,162,338 | 275,497 | ||||
Transfer agent and filing fees | 9,361 | 9,104 | 35,292 | 27,896 | ||||
Travel | - | - | - | 30,566 | ||||
(3,859,167) | (178,627) | (6,123,246) | (760,102) | |||||
OTHER ITEMS | ||||||||
Interest income | 3,909 | 246 | 4,296 | 4,375 | ||||
Gain (loss) on foreign exchange | (9,299) | (2,487) | (28,074) | (7,101) | ||||
(5,390) | (2,241) | (23,778) | (2,726) | |||||
Net loss and comprehensive loss for the period | $ | (3,819,106) | $ | (175,464) | $ | (6,082,732) | $ | (741,966) |
Basic and diluted loss per share | $ | (0.04) | $ | (0.00) | $ | (0.08) | $ | (0.01) |
Weighted average number of common shares | 91,898,839 | 56,265,790 | 80,684,066 | 54,546,447 | ||||
outstanding | ||||||||
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
GLOBEX DATA LTD.
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY For the nine months ended September 30, 2021 and 2020
(Unaudited)
(Expressed in Canadian Dollars)
Shares | Shareholders' | |||||
Number of | Share Capital | Subscribed | Reserves | Deficit | Equity | |
Shares | $ | $ | $ | $ | $ | |
Balance, December 31, 2019 | 52,420,282 | 5,583,237 | 157,000 | 534,213 | (2,753,572) | 3,520,878 |
Shares issued | 2,076,249 | 285,905 | (157,000) | - | - | 128,905 |
Share issue costs | - | (3,064) | - | - | - | (3,064) |
Share-based payments | - | - | - | 100,073 | - | 100,073 |
Net loss for the period | - | - | - | - | (741,966) | (741,966) |
Balance, September 30, 2020 | 54,496,531 | 5,866,078 | - | 634,286 | (3,495,538) | 3,004,826 |
Balance, December 31, 2020 | 57,000,713 | 6,161,300 | 22,780 | 996,016 | (4,073,067) | 3,107,029 |
Shares issued | 40,161,797 | 10,904,323 | (22,780) | - | - | 10,881,543 |
Share issue costs | - | (660,297) | - | 82,343 | - | (577,954) |
Exercise of stock options | 2,720,000 | 596,827 | - | (266,427) | - | 330,400 |
Exercise of warrants | 5,776,715 | 1,013,715 | - | (135,781) | - | 877,934 |
Shares issued for accounts payable | 50,000 | 18,000 | - | - | - | 18,000 |
Share-based payments | - | - | - | 2,787,088 | - | 2,787,088 |
Net loss for the period | - | - | - | - | (6,082,732) | (6,082,732) |
Balance, September 30, 2021 | 105,709,225 | 18,033,868 | - | 3,463,239 | (10,155,799) | 11,341,308 |
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
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Globex Data Ltd. published this content on 20 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 November 2021 00:33:05 UTC.