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    CCR   CA39328D1042

GREEN RIVER GOLD CORP.

(CCR)
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GREEN RIVER GOLD : Financial Statements For the Six Months Ended March 31, 2021 & 2020

06/01/2021 | 03:53pm EDT

GREEN RIVER GOLD CORP.

Financial Statements

For the Six Months Ended March 31, 2021 & 2020

(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.

Statement of Financial Position

As at March 31, 2021

(Expressed in Canadian dollars)

March 31

September 30

2021

2020

ASSETS

Current

Cash

Trade and other receivables (Note 4)

Equipment inventory (Note 5)

Retail inventory (Note 6)

Reclamation bonds (Note 7)

Prepaid expenses

Due from related parties (Note 8)

Investment in Green River Gold Limited Partnership (Note 9) Fixed assets (Note 10)

Exploration and evaluation assets (Note 11) Right of use asset - leased building (Note 12)

$ 27,755 $ 2,990

40,44531,786

518,616 522,505

63,16154,107

17,00017,000

55,03690,910

243,377 342,869

965,390 1,062,167

30,000-

33,04037,275

648,295 527,104

48,24362,027

$ 1,724,968 $ 1,688,573

LIABILITIES

Current

Trade and other payables (Note 13) Loans payable (Note 14)

Loans payable to related parties (Note 15) Current portion of long term debt (Note 16) Current portion of lease liability (Note 12)

Long term debt (Note 16)

Obligation under lease liability (Note 12) Convertible debentures (Note 17)

EQUITY

Capital stock (Note 18) Reserve for warrants (Note 19)

Equity portion of convertible debentures (Note 17) Accumulated deficit

Going Concern (Note 1)

$ 215,025 $ 263,750

228,534 156,079

25,2389,832

3,9643,964

28,55828,558

501,319 462,183

10,90912,856

20,92034,050

103,12295,802

636,270 604,891

2,180,738 2,066,954

872,450 734,492

28,37428,374

(1,992,864) (1,746,138)

1,088,698 1,083,682

$ 1,724,968 $ 1,688,573

APPROVED ON BEHALF OF THE BOARD OF DIRECTORS ON MAY 31, 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.

Statement of Loss and Comprehensive Loss

For the Six Month Period Ended March 31, 2021

(Expressed in Canadian dollars)

(3 months)

(3 months)

(6 months)

(6 months)

March 31

March 31

March 31

March 31

2021

2020

2021

2020

Revenues

Retail and equipment

sales (Notes 5 and 6)

$

21,696

$

4,689

$

44,864

$

8,412

Cost of goods sold

14,230

2,215

29,547

4,647

Gross profit

7,466

2,474

15,317

3,765

Placer claim rental

-

-

1,200

-

7,466

2,474

16,517

3,765

Expenses

Accounting fees

5,733

1,206

7,099

2,455

Accretion on debentures

3,696

2,942

7,321

7,270

Accretion on lease liability

881

-

1,870

-

Advertising and promotion

4,855

679

23,079

1,142

Audit fees

28,000

8,000

36,000

16,000

Consulting fees

-

-

5,000

-

Contract labour (Note 20)

19,193

10,794

39,958

19,645

Depreciation - owned

2,117

1,629

4,235

3,258

Depreciation -

leased (Note 12)

6,892

-

13,784

-

Insurance

568

592

1,136

1,183

Interest and bank charges

10,042

6,256

18,549

11,116

Legal fees

15,333

8,100

16,762

14,738

Management fees

30,000

-

60,000

-

Office and administration

2,980

2,430

7,771

8,563

Postage, courier and freight

1,482

-

3,276

-

Regulatory and filing fees

3,525

3,827

7,638

6,571

Rent

-

2,618

-

3,852

Repairs and maintenance

2,861

417

7,266

857

Telecommunications

1,437

444

2,089

740

Travel

209

-

410

116

139,804

49,934

263,243

97,506

NET LOSS AND

COMPREHENSIVE LOSS

(132,338)

(47,460)

$

(246,726)

$

(93,741)

Net loss and comprehensive loss per

share - basic and diluted

$

(0.01)

$

(0.01)

$

(0.01)

$

(0.01)

Weighted average number of common

shares - basic and diluted

47,476

25,044

46,645

24,613

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 Six Month Period Ended March 31, 2021

(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 18)

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 18)

4,307,000

141,462

137,958

-

-

279,420

Share issuance costs

-

(27,678)

-

-

-

(27,678)

Net loss for the period

-

-

-

-

(246,726)

(246,726)

Balance at March 31, 2021

48,494,749

$

2,180,738

$

872,450

$

28,374

$

(1,992,864)

$

1,088,698

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

GREEN RIVER GOLD CORP. Statement of Cash Flows

For the Six Month Period Ended March 31, 2021 (Expressed in Canadian dollars)

March 31

March 31

2021

2020

OPERATING ACTIVITIES

Net loss

$

(246,726)

$

(93,741)

Items not affecting cash:

Depreciation expense

18,019

3,258

Accretion expense

9,191

7,270

Expenses paid by related parties

-

-

Contract labour and rent provided by related parties

-

-

Equipment inventory sold to related parties

-

-

(219,516)

(83,213)

Changes in non-cash working capital (Note 23)

(26,676)

(27,834)

Cash flow used by operating activities

(246,192)

(111,047)

FINANCING ACTIVITIES

Proceeds from loans payable

72,455

92,683

Proceeds on loans from related parties

15,406

(10,084)

Proceeds on issuance of common shares (Note 18)

279,420

104,300

Share issuance costs

(27,678)

(8,233)

Proceeds on issuance of convertible debentures

-

-

Convertible debenture issuance costs

-

-

Repayment of long term debt

(1,947)

(1,811)

Payments made on lease

(15,000)

-

Cash flow from financing activities

322,656

176,855

INVESTING ACTIVITIES

Investment in Green River Gold Trading Limited Partnership

(30,000)

-

Repayments from related parties

99,492

-

Additions to exploration and evaluation assets

(121,191)

(67,173)

Cash flow used by investing activities

(51,699)

(67,173)

INCREASE (DECREASE) IN CASH FLOW

24,765

(1,365)

Cash - beginning of year

2,990

1,381

CASH - END OF YEAR

$

27,755

$

16

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

4

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Green River Gold Corp. published this content on 01 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 June 2021 19:52:01 UTC.


© Publicnow 2021
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Financials
Sales 2020 0,29 M 0,23 M 0,23 M
Net income 2020 -0,40 M -0,32 M -0,32 M
Net Debt 2020 0,34 M 0,27 M 0,27 M
P/E ratio 2020 -5,70x
Yield 2020 -
Capitalization 3,11 M 2,49 M 2,49 M
EV / Sales 2019 448x
EV / Sales 2020 12,0x
Nbr of Employees -
Free-Float 50,1%
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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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