GUNGNIR RESOURCES INC. GUNGNIR
Interim Financial Statements
June 30, 2023 and 2022
(expressed in Canadian dollars)
Unaudited - Prepared by Management
Gungnir Resources Inc.
Statements of Financial Position
(expressed in Canadian dollars) | Unaudited - Prepared by Management | ||||
As at | June 30, | December 31, | |||
2023 | 2022 | ||||
Note | |||||
Assets | |||||
Current assets | |||||
Cash and cash equivalents | 3 | $ | 2,060,870 | $ | 2,498,312 |
Accounts receivable and prepaids | 4 | 40,285 | 21,412 | ||
2,101,155 | 2,519,724 | ||||
Non-current assets | |||||
Deposits | 3 | 29,522 | 29,183 | ||
Reclamation bonds | 5 | 24,869 | 28,851 | ||
Exploration and evaluation properties | 6 | 3,355,026 | 3,159,305 | ||
Total assets | 5,510,572 | 5,737,063 | |||
Liabilities and equity | |||||
Current liabilities | |||||
Accounts payable and accrued liabilities | 165,981 | 51,434 | |||
Total liabilities | 165,981 | 51,434 | |||
Equity | |||||
Share capital | 7 | 33,375,967 | 33,375,967 | ||
Stock-based payment reserve | 7 | 1,125,702 | 1,067,519 | ||
Warrants | 7 | 1,211,948 | 1,211,948 | ||
Contributed surplus | 7 | 6,795,385 | 6,795,385 | ||
Deficit | (37,164,411) | (36,765,190) | |||
Total equity | 5,344,591 | 5,685,629 | |||
Total liabilities and equity | $ | 5,510,572 | $ | 5,737,063 | |
Nature and continuance of operations (Note 1) | |||||
Subsequent events (Note 13) |
See accompanying notes to the interim financial statements
Gungnir Resources Inc.
Statements of Comprehensive Loss
(expressed in Canadian dollars) | Unaudited - Prepared by Management | ||||||
For the Periods Ended June 30, | Note | 2023 | 2022 | 2023 | 2022 | ||
3 Months | 3 Months | 6 Months | 6 Months | ||||
Operating expenses | |||||||
General and administration | 10 | $ | 9,936 | 40,304 | $ | 77,668 | 76,938 |
Compensation | 10 | 125,963 | 127,848 | 317,636 | 221,200 | ||
Professional fees | 10 | 2,037 | 46,215 | 3,073 | 47,398 | ||
(137,936) | (214,366) | (398,377) | (345,536) | ||||
Other items | |||||||
Interest income | 3,267 | 2,897 | 5,569 | 2,921 | |||
Foreign exchange | (5,983) | (6,990) | (6,413) | (4,879) | |||
Net loss and comprehensive loss | $ | (140,652) | (218,460) | $ | (399,221) | (347,494) | |
Weighted average number of shares | 119,626,104 | 98,799,548 | 119,626,104 | 98,799,548 | |||
outstanding | |||||||
Basic and diluted earnings (loss) per share | $ | (0,00) | (0,00) | $ | (0.00) | (0.00) | |
See accompanying notes to the interim financial statements
Gungnir Resources Inc.
Statements of Cash Flows
(expressed in Canadian dollars) | Unaudited - Prepared by Management | |||
For the Periods Ended June 30, | 2023 | 2022 | ||
Operating activities | ||||
Comprehensive loss for the period | $ | (399,221) | $ | (347,494) |
Adjustments for: | ||||
Accrued interest | (17) | (6) | ||
Stock-based compensation | 58,183 | - | ||
Foreign exchange | - | - | ||
(341,055) | (347,500) | |||
Net change in non-cash working capital: | ||||
GST/VAT and other accounts receivable | (22,335) | (35,582) | ||
Prepaid expenses | 3,462 | (3,461) | ||
Accounts payable and other accrued liabilities | 114,546 | 151,654 | ||
Net cash used in operating activities | (245,382) | (234,889) | ||
Financing activity | ||||
Issue of units, net of share issue costs | - | 2,444,720 | ||
Exercise of options | - | 30,000 | ||
Exercise of warrants | - | 24,000 | ||
Net cash from financing activities | - | 2,498,720 | ||
Investing activities | ||||
Reclamation Bonds | 4,000 | 1,463 | ||
Deposits | (340) | (17,250) | ||
Exploration and evaluation expenditures | (195,720) | 51,367 | ||
Net cash used in investing activities | (192,060) | 35,580 | ||
Net increase (decrease) in cash | (437,442) | 2,299,411 | ||
Cash and cash equivalents, beginning of year | 2,498,312 | 1,191,394 | ||
Cash and cash equivalents, end of period | $ | 2,060,870 | $ | 3,490,805 |
See accompanying notes to the interim financial statements
Gungnir Resources Inc.
Statements of Changes in Equity
(expressed in Canadian dollars) | Unaudited - Prepared by Management | ||||||||||||
Shares | Share | Stock-based | Contributed | Total | |||||||||
(Note 7) | Capital | compensation | Warrants | surplus | Deficit | equity | |||||||
January 1, 2022 | 97,379,450 | $ | 31,789,790 | $ | 764,552 | $ | 344,264 | $ | 6,789,497 | $ | (35,802,195) | $ | 3,885,908 |
Warrants exercised | 300,000 | 24,000 | - | - | - | - | 24,000 | ||||||
Re-allocated on exercise of warrants | - | 7,497 | - | (5,385) | (2,112) | - | - | ||||||
Options exercised | 600,000 | 30,000 | - | - | - | - | 30,000 | ||||||
Re-allocated on exercise of options | - | 24,000 | (24,000) | - | - | - | - | ||||||
Re-allocated on expiry of options and warrants | - | - | (8,000) | - | 8,000 | - | - | ||||||
Private placement - units issued | 21,318,336 | 1,685,131 | - | 873,069 | - | - | 2,558,200 | ||||||
Share issue costs | - | (186,051) | 72,572 | - | - | (113,479) | |||||||
Stock-based compensation | - | - | - | - | - | - | - | ||||||
Comprehensive loss | - | - | - | - | - | (347,494) | (347,494) | ||||||
June 30, 2022 | 119,597,786 | 33,374,367 | 805,124 | 1,211,948 | 6,795,385 | (36,149,689) | 6,037,135 | ||||||
Warrants exercised | 32,000 | 1,600 | - | - | - | - | 1,600 | ||||||
Re-allocated on exercise of warrants | - | - | - | - | - | - | - | ||||||
Options exercised | - | - | - | - | - | - | - | ||||||
Re-allocated on exercise of options | - | - | - | - | - | - | - | ||||||
Re-allocated on expiry of options and warrants | - | - | - | - | - | - | - | ||||||
Private placement - units issued | - | - | - | - | - | - | - | ||||||
Share issue costs | - | - | - | - | - | - | - | ||||||
Stock-based compensation | - | - | 262,395 | - | - | - | 262,395 | ||||||
Comprehensive loss | - | - | - | - | - | (615,501) | (615,501) | ||||||
December 31, 2022 | 119,629,786 | $ | 33,375,967 | $ | 1,067,519 | $ | 1,211,948 | $ | 6,795,385 | $ | (36,765,190) | $ | 5,685,629 |
Warrants exercised | - | - | - | - | - | - | - | ||||||
Re-allocated on exercise of warrants | - | - | - | - | - | - | - | ||||||
Options exercised | - | - | - | - | - | - | - | ||||||
Re-allocated on exercise of options | - | - | - | - | - | - | - | ||||||
Re-allocated on expiry of options and warrants | - | - | - | - | - | - | - | ||||||
Private placement - units issued | - | - | - | - | - | - | - | ||||||
Share issue costs | - | - | - | - | - | - | - | ||||||
Stock-based compensation | - | - | 58,183 | - | - | - | 58,183 | ||||||
Comprehensive loss | - | - | - | - | - | (399,221) | (399,221) | ||||||
June 30, 2023 | 119,629,786 | $ | 33,375,967 | $ | 1,125,702 | $ | 1,211,948 | $ | 6,795,385 | $ | (37,164,411) | $ | 5,344,591 |
See accompanying notes to the interim financial statements
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Gungnir Resources Inc. published this content on 14 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 July 2023 16:30:00 UTC.
