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    ISO   CA46500E1079

ISOENERGY LTD.

(ISO)
  Report
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

3rd Quarter Financial Statements 2021

11/03/2021 | 03:05pm EST

Unaudited Condensed Interim Financial Statements of

ISOENERGY LTD.

For the three and nine months ended September 30, 2021 and 2020

1

ISOENERGY LTD.

CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION (Unaudited)

(Expressed in Canadian Dollars)

As at

Note

September 30, 2021

December 31, 2020

ASSETS

Current

Cash

$

14,931,758

$

14,034,565

Accounts receivable

229,942

67,967

Prepaid expenses

109,815

197,419

Marketable securities

6

9,900,836

-

25,172,351

14,299,951

Non-Current

Deposit

-

9,274

Property and equipment

7

70,255

182,439

Exploration and evaluation assets

8

58,146,152

53,731,796

TOTAL ASSETS

$

83,388,758

$

68,223,460

LIABILITIES

Current

Accounts payable and accrued liabilities

$

2,613,424

$

238,650

Current portion of lease liability

9

-

66,745

2,613,424

305,395

Non-Current

Convertible debentures

10

22,366,473

14,033,992

Long-term lease liability

9

-

84,895

Deferred income tax liability

12

2,783,373

711,587

TOTAL LIABILITIES

27,763,270

15,135,869

EQUITY

Share capital

13

74,793,819

67,491,167

Share option and warrant reserve

13

4,028,885

4,235,150

Accumulated deficit

(28,628,459)

(18,566,260)

Other comprehensive loss

5,431,243

(72,466)

TOTAL EQUITY

55,625,488

53,087,591

TOTAL LIABILITIES AND EQUITY

$

83,388,758

$

68,223,460

Nature of operations (Note 2)

Commitments (Notes 9, 10 and 11)

Subsequent event (Note 19)

The accompanying notes are an integral part of the condensed interim financial statements

These financial statements were authorized for issue by the Board of Directors on November 2, 2021

"Tim Gabruch"

"Trevor Thiele"

Tim Gabruch, CEO, Director

Trevor Thiele, Director

ISOENERGY LTD.

CONDENSED INTERIM STATEMENTS OF NET INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS) (Unaudited)

(Expressed in Canadian Dollars)

For the three months ended

For the nine months ended

September 30

September 30

Note

2021

2020

2021

2020

General and administrative costs

Share-based compensation

13,14

$

333,369

$

182,275

$

1,348,814

$

381,531

Administrative salaries, contract and director

295,536

1,755,938

fees

14

228,869

554,124

Investor relations

57,180

138,679

210,988

519,218

Office and administrative

38,229

12,282

99,108

87,057

Professional fees

80,269

68,061

159,619

190,572

Travel

1,918

-

1,918

40,446

Public company costs

25,114

33,607

105,077

94,661

Depreciation expense

-

15,528

29,398

46,584

Total general and administrative costs

(831,615)

(679,301)

(3,710,860)

(1,914,193)

Interest income

14,859

11,582

54,114

37,666

Interest on lease liability

9

-

(2,621)

(5,230)

(7,852)

Interest on convertible debentures

10

(160,650)

(80,038)

(478,865)

(80,038)

Fair value gain(loss) on convertible

(3,629,475)

(8,336,758)

debentures

10

1,119,377

1,119,377

Gain on sale of assets and option agreement

5

1,374,213

-

3,610,702

-

Foreign exchange gain (loss)

49,247

37,195

(11,083)

37,195

Rental and other income

9

11,100

9,087

29,274

25,750

Income (loss) from operations

(3,172,321)

415,281

(8,848,706)

(782,095)

Deferred income tax recovery (expense)

12

(1,018,591)

(63,947)

(1,213,493)

(273,509)

Net income (loss)

$

(4,190,912)

$

351,334

$

(10,062,199)

$

(1,055,604)

Other comprehensive income (loss)

Change in fair value of convertible debentures

66,949

4,277

attributable to the change in credit risk

10

-

-

Change in fair value of marketable securities

6

5,424,191

-

6,357,725

-

Deferred tax expense

(732,266)

-

(858,293)

-

Total comprehensive Income (loss)

567,962

351,334

(4,558,490)

(1,055,604)

Loss per common share

Basic

$

(0.04)

$

-

$

(0.10)

$

(0.01)

Diluted

$

(0.04)

$

(0.01)

$

(0.10)

$

(0.01)

Weighted average number of common

shares outstanding

Basic

98,901,556

88,045,008

97,421,136

85,537,741

Diluted

98,901,556

94,605,923

97,421,136

85,537,741

The accompanying notes are an integral part of the condensed interim financial statements

3

ISOENERGY LTD.

CONDENSED INTERIM STATEMENTS OF CHANGES IN EQUITY (Unaudited)

(Expressed in Canadian Dollars)

Number of

Share

Accumulated

Note

option and

Accumulated

other

common

Share capital

Total

warrant

deficit

comprehensive

shares

reserve

loss

Balance as at January 1, 2020

84,267,500

$58,740,682

$3,769,204

$(9,022,887)

$

-

$53,486,999

Shares issued in private placement

13

5,882,352

3,999,999

-

-

-

3,999,999

Share issue costs

13

-

(331,707)

-

-

-

(331,707)

Shares issued on the exercise of

13

736,124

431,857

(132,949)

-

-

298,908

warrants

Shares issued on the exercise of

13

100,000

83,303

(33,303)

-

-

50,000

stock options

Shares issued on convertible debt

10

219,689

272,414

-

-

-

272,414

financing

Share-based payments

13

-

-

569,743

-

-

569,743

Loss for the period

-

-

-

(1,055,604)

-

(1,055,604)

Balance as at September 30,

91,205,665

$63,196,548

$4,172,695

$(10,078,491)

$

-

$57,290,752

2020

Balance as at January 1, 2021

94,472,998

$67,491,167

$4,235,150

$(18,566,260)

$(72,466)

$53,087,591

Shares issued on the exercise of

13

2,512,732

1,650,453

(9,246)

-

-

1,641,207

warrants

Shares issued on the exercise of

13

4,071,666

5,561,005

(2,248,947)

-

-

3,312,058

stock options

Shares issued to settle interest

10

31,120

91,194

-

-

-

91,194

Share-based payments

13

-

-

2,051,928

-

-

2,051,928

Loss for the period

-

-

-

(10,062,199)

-

(10,062,199)

Other comprehensive income for

6,10

-

-

-

-

5,503,709

5,503,709

the period

Balance as at September 30,

101,088,516

$74,793,819

$4,028,885

$(28,628,459)

$5,431,243

$55,625,488

2021

The accompanying notes are an integral part of the condensed interim financial statements

4

ISOENERGY LTD.

CONDENSED INTERIM STATEMENTS OF CASH FLOWS (Unaudited)

(Expressed in Canadian Dollars)

For the nine months ended September 30

2021

2020

Cash flows from (used in) operating activities

Loss for the period

$

(10,062,199)

$

(1,055,604)

Items not involving cash:

1,348,814

Share-based compensation

381,531

Deferred income tax (recovery) expense

1,213,493

273,509

Depreciation expense

29,398

46,584

Other income

(11,100)

Interest on lease liability

5,230

7,852

Interest on convertible debentures

478,865

80,038

Fair value loss (gain) on convertible debentures

8,336,758

(1,119,377)

Gain on sale of assets and option agreement

(3,610,702)

-

Changes in non-cash working capital

Accounts receivable

(65,875)

(69,514)

Prepaid expenses

107,604

101,815

Deposit

9,274

-

Accounts payable and accrued liabilities

1,657,407

(122,221)

$

(563,033)

$

(1,475,387)

Cash flows used in investing activities

Additions to exploration and evaluation assets

$

(3,098,940)

$

(4,040,150)

Acquisition of exploration and evaluation assets

(27,139)

(142,363)

Additions to equipment

(42,135)

-

Proceeds on sale of assets

96,100

-

$

(3,072,114)

$

(4,182,513)

Cash flows from (used in) financing activities

Shares issued in private placement

$

-

$

3,999,999

Share issuance costs

1,641,207

(331,707)

Shares issued on the exercise of warrants

298,908

Shares issued on the exercise of stock options

3,312,058

50,000

Interest on Debentures

(387,671)

7,902,000

Lease liability payments:

(28,024)

Principal

(42,036)

Interest

(5,230)

(7,852)

$

4,532,340

$

11,869,312

Change in cash

$

897,193

$

6,211,412

Cash, beginning of period

14,034,565

6,587,075

Cash, end of period

$

14,931,758

$

12,798,487

Supplemental disclosure with respect to cash flows (Note 18)

The accompanying notes are an integral part of the condensed interim financial statements

5

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

Disclaimer

Isoenergy Ltd. published this content on 03 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 November 2021 20:04:05 UTC.


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Financials
Sales 2021 - - -
Net income 2021 -11,0 M -8,82 M -8,82 M
Net Debt 2021 - - -
P/E ratio 2021 -35,1x
Yield 2021 -
Capitalization 372 M 296 M 298 M
Capi. / Sales 2021 -
Capi. / Sales 2022 -
Nbr of Employees -
Free-Float -
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Technical analysis trends ISOENERGY LTD.
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 3
Last Close Price 3,51 CAD
Average target price 6,95 CAD
Spread / Average Target 98,0%
EPS Revisions
Managers and Directors
Timothy Gabruch President, Chief Executive Officer & Director
Janine Richardson Chief Financial Officer
Leigh R. Curyer Chairman
Christopher W. McFadden Independent Director
Trevor J. Thiele Independent Director
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