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    CCR   CA39328D1042

GREEN RIVER GOLD CORP.

(CCR)
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GREEN RIVER GOLD : Consolidated Financial Statements For the Three Months Ended December 31, 2020 & 2019

05/20/2021 | 06:00pm EDT

GREEN RIVER GOLD CORP.

Consolidated Financial Statements

For the Three Months Ended December 31, 2020 & 2019

(Unaudited - Prepared by Management)

NOTICE OF NO AUDITOR REVIEW

The accompanying unaudited interim financial statements have been prepared by management.

The Company's independent auditors have not performed a review of these financial

statements in accordance with the standards established by the Canadian Institue of Chartered Professional Accountants for a review of interim financial statements by an entity's auditors.

GREEN RIVER GOLD CORP.

Consolidated Statement of Financial Position

As at December 31, 2020

(Expressed in Canadian dollars)

December 31

September 30

2020

2020

ASSETS

Current

Cash

$

25,963

$

2,990

Trade and other receivables (Note 4)

35,662

31,786

Equipment inventory (Note 5)

518,616

522,505

Retail inventory (Note 6)

51,606

54,107

Reclamation bonds (Note 7)

17,000

17,000

Prepaid expenses

65,880

90,910

Due from related parties (Note 8)

167,239

342,869

881,966

1,062,167

Fixed assets (Note 9)

79,583

37,275

Exploration and evaluation assets (Note 10)

624,599

527,104

Right of use asset - leased building (Note 11)

55,135

62,027

$

1,641,283

$

1,688,573

LIABILITIES

Current

Trade and other payables (Note 12) Loans payable (Note 13)

Loans payable to related parties (Note 14) Current portion of long term debt (Note 15) Current portion of lease liability (Note 11)

Long term debt (Note 15)

Obligation under lease liability (Note 11) Convertible debentures (Note 16)

EQUITY

Capital stock (Note 17) Reserve for warrants (Note 18)

Equity portion of convertible debentures (Note 16) Accumulated deficit

Going Concern (Note 1)

$ 174,848 $ 263,750

149,617 156,079

15,8329,832

3,9643,964

28,55828,558

372,819 462,183

11,89112,856

27,53934,050

99,42695,802

511,675 604,891

2,149,478 2,066,954

812,891 734,492

28,37428,374

(1,861,135) (1,746,138)

1,129,608 1,083,682

$ 1,641,283 $ 1,688,573

APPROVED ON BEHALF OF THE BOARD OF DIRECTORS ON MARCH 29, 2021

"Perry Little" (signed)

"Shawn Stockdale" (signed)

_____________________________

_____________________________

Director

Director

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

1

GREEN RIVER GOLD CORP.

Consolidated Statement of Loss and Comprehensive Loss For the Three Month Period Ended December 31, 2020 (Expressed in Canadian dollars)

December 31

September 30

2020

2020

Revenues

Retail and equipment sales (Notes 5 and 6)

$

23,168

$

3,722

Cost of goods sold

15,317

2,432

Gross profit

7,851

1,290

Placer claim rental

1,200

-

9,051

1,290

Expenses

Accounting fees

1,366

1,250

Accretion on convertible debentures

3,624

4,327

Accretion on lease liability

989

-

Advertising and promotion

18,224

463

Audit fees

8,000

8,000

Bad debts

11

-

Consulting fees

5,000

-

Contract labour (Note 19)

20,765

8,851

Depreciation on owned assets

2,117

1,629

Depreciation on right of use asset - leased building (Note 11)

6,892

-

Insurance

568

591

Interest and bank charges

9,117

4,860

Legal fees

1,429

6,638

Management fees

30,000

-

Office, general and administration

4,780

6,230

Postage, courier and freight

1,795

-

Regulatory, filing and transfer fees

4,113

2,744

Rent

-

1,235

Repairs and maintenance

4,405

530

Telecommunications

652

296

Travel

201

-

124,048

47,644

NET LOSS AND COMPREHENSIVE LOSS

$

(114,997)

$

(46,354)

Net loss and compresehensive loss per share

- basic and diluted

$

(0.01)

$

(0.01)

Weighted average number of common shares

- basic and diluted (000's)

45,832

24,945

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

2

GREEN RIVER GOLD CORP.

Statement of Changes in Equity

For the Three Month Period Ended December 31, 2020

(Expressed in Canadian dollars)

Equity Portion

Number of

Share

Reserves

of Convertible

Accumulated

shares

Capital

Warrants

Debentures

deficit

Total

Balance at October 1, 2019

23,454,749

$

1,401,132

$

255,553

$

28,374

$

(1,350,149)

$

334,910

Shares issued (Note 17)

20,733,000

779,940

478,939

-

-

1,258,879

Share issuance costs

-

(114,118)

-

-

-

(114,118)

Net loss for the year

-

-

-

-

(395,989)

(395,989)

Balance at September 30, 2020

44,187,749

$

2,066,954

$

734,492

$

28,374

$

(1,746,138)

$

1,083,682

Balance at October 1, 2020

44,187,749

$

2,066,954

$

734,492

$

28,374

$

(1,746,138)

$

1,083,682

Shares issued (Note 17)

2,907,000

103,021

78,399

-

-

181,420

Share issuance costs

-

(20,497)

-

-

-

(20,497)

Net loss for the year

-

-

-

-

(114,997)

(114,997)

Balance at December 31, 2020

47,094,749

$

2,149,478

$

812,891

$

28,374

$

(1,861,135)

$

1,129,608

The accompanying notes are an integral part of these unaudited consolidated interim financial statements 3

GREEN RIVER GOLD CORP. Consolidated Statement of Cash Flows

For the Three Month Period Ended December 31, 2020 (Expressed in Canadian dollars)

December 31

December 31

2020

2019

OPERATING ACTIVITIES

Net loss

$

(114,997)

$

(46,354)

Items not affecting cash:

Depreciation expense

9,009

1,629

Accretion expense

4,613

4,327

Expenses paid by related parties

-

-

Contract labour and rent provided by related parties

-

-

Equipment inventory sold to related parties

-

-

(101,375)

(40,398)

Changes in non-cash working capital (Note 21)

(61,357)

(25,212)

Cash flow used by operating activities

(162,732)

(65,610)

FINANCING ACTIVITIES

Proceeds from loans payable

(6,462)

25,909

Proceeds on loans from related parties

6,000

(27,007)

Proceeds on issuance of common shares (Note 17)

181,420

104,300

Share issuance costs

(20,497)

(8,233)

Proceeds on issuance of convertible debentures

-

-

Convertible debenture issuance costs

-

-

Repayment of long term debt

(965)

(895)

Payments made on lease

(7,500)

-

Cash flow from financing activities

151,996

94,074

INVESTING ACTIVITIES

Repayment of loans to related parties

307,481

-

Advances to related parties

(131,851)

-

Additions to exploration and evaluation assets

(97,495)

(28,407)

Purchase of fixed assets

(44,426)

-

Exploration assets provided by related parties

-

-

Cash flow from (used by) investing activities

33,709

(28,407)

INCREASE IN CASH FLOW

22,973

57

Cash - beginning of year

2,990

1,381

CASH - END OF YEAR

$

25,963

$

1,438

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

4

Disclaimer

Green River Gold Corp. published this content on 21 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 May 2021 08:40:01 UTC.


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Financials
Sales 2020 0,29 M 0,23 M 0,23 M
Net income 2020 -0,40 M -0,31 M -0,31 M
Net Debt 2020 0,34 M 0,27 M 0,27 M
P/E ratio 2020 -5,70x
Yield 2020 -
Capitalization 3,13 M 2,47 M 2,47 M
EV / Sales 2019 448x
EV / Sales 2020 12,0x
Nbr of Employees -
Free-Float 49,8%
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Income Statement Evolution
Managers and Directors
Pearson John Little President, Chief Executive Officer & Director
Shawn Stockdale Chief Financial Officer, Secretary & Director
Ricky James Watters Independent Director
David Upright Independent Director
Vernon Kibblewhite Director
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