GREEN RIVER GOLD CORP. 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
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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.
