Mining Global : MNGG Financial Statement 2020

Mining Global Inc.

(Formerly Yaterra Ventures Corp.)

Consolidated Balance Sheet

As at August 31, 2020 (Unaudited)

ASSETS

Current Assets

Cash and cash equivalents

Total Current Assets

Fixed assets

Total Assets

EQUITY & LIABILITIES

Current Liablities

Accounts payable and accrued expenses

Short term debt

Total Current Liabilities

Long term debt

Total Liabilities

SHAREHOLDER'S EQUITY

Preferred Stock ($0.001 Par Value, 100,000,000 shares authorized, 2,000,000 shares issued

Common stock, $0.001 Par Value, 6,710,000,000 shares authorized 6,485,161,617, share issued and outstanding

Additional paid in capital

Accumulated deficit

Total Shareholders' Equity

Total Liabilities and Shareholders' Equity

Notes

4

5

6

7

8

As at August 31, 2020

(Unaudited)

($)

577,835

577,835

727,384

1,305,219

309,610

820,235

1,129,845

256,000

1,385,845

1,000

6,485,162

872,269

(7,439,057)

(80,626)

1,305,219

Mining Global Inc.

(Formerly Yaterra Ventures Corp.) Consolidated Statement of Profit and loss For the year ended August 31, 2020

Notes

For the year ended August

31, 2020

		(Amount in $)
Gold Sales		183,422
Cost of sales	10	-
Gross profit		183,422
Selling, general and admisitrative expense	10	(143,478)
Income / (Loss) from opeartions
	39,944
Other Income / (expense)
Interest expense		-
Net Profit / (loss) before provision for Income taxes
	39,944
Provision for income tax		-
Net Profit / (loss)
	39,944

Mining Global Inc.

(Formerly Yaterra Ventures Corp.)

Statement of Shareholders' Equity

As at August 31, 2020 (Unaudited)

	Common Stock	Preferred Stock		Additonal Paid in	Accumulated Profit /		Total
	Shares	Amount	Shares	Amount		capital	(Deficit)
					Amount is $
As at August 31, 2019 (Unaudited)	6,485,161,617	6,485,162	10,000,000		1,000	872,269	(7,479,001)	(120,570)
Profit / (loss) for the period							39,944	39,944
As at August 31, 2020 (Unaudited)
6,485,161,617	6,485,162	10,000,000		1,000	872,269	(7,439,057)	(80,626)

Mining Global Inc.

(Formerly Yaterra Ventures Corp.) Statement of cashflows

As at August 31, 2020 (Unaudited)

Cash flow from operating activities	2020
(Loss) / profit before income tax	39,944
Adjustment for non cash charges and other items:
Depreciation / amortization	-
Unrealized exchange loss / (gain)	-
Changes in working capital	39,944
(Decrease) / increase in convertible debt
-
(Decrease) / increase in accrued wages	26,971
(Decrease) / increase in trade and other payables	(5,997)
	20,974
Cash flow from operating activities	60,918
Cash flow from investing activities
Additions in intangibles assets
-
Cash flow from / (used) in investing activities	-
Cash flow from financing activities
Borrowings during the year	-
Dividends paid	-
Cash flow from financing activities
-
Increase / (decrease) in cash and cash equivalents	60,918
Cash and cash equivalents at beginning of the year	516,917
Cash and cash equivalents at end of the year
577,835

Mining Global Inc.

(Formerly Yaterra Ventures Corp.) Notes to the Financial Stateements For the year ended August 31, 2020

1. LEGAL STATUS AND OPERATIONS
   Mining Global Inc. was incorporated as Yaterra Ventures Corp. ("the Company") under the laws of state of Nevada on November 20, 2006.
   The Company is "exploration stage company" and is primarily engaged in the acquisition, exploration and development of mineral properties The company holds several mineral properties and is currently focusing its resources in assessing the mineral deposits of lead, zinc, copper, silver, gold or uranium capable of commercial extraction.
2. BASIS OF PREPARATION

1. Statement of compliance
   The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America and pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") on a going concern.
2. Accounting Convention
   These financial statements have been prepared on the basis of 'historical cost convention using accrual basis of accounting except as otherwise stated in the respective accounting policies notes.
   Going concern
   The Company had accumulated losses and had a negative cash flow from operations for the reporting period. Further, the accumulated (deficit) has raised at that date, which raises substantial doubt about its ability to continue as a going concern. The furture of the Company is dependent upon its ability to obtain financing and upon future profitable operations from development of its natural properties. Management has plans to seek additional capital through private placement and public offering of its common stock. The financial statements dont contain any adjustments relating to recoverability and classification of its recorded assets, or the amounts of and classfication of its liabilities that might be necessary in the event the Company cannot continue to exist.
3. Critical accounting estimates and judgements
   The preparation of financial statements in conformity with the approved accounting standards require management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.
   The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised if the revision affects only that period, or in the period of the revision and future periods.
   The areas involving higher degree of judgment and complexity, or areas where assumptions and estimates made by the management are significant to the financial statements are as follows:

1. Equipment - estimated useful life of equipment (note - 3.8)

1. Exploration and evaluation cost (note - 3.5)

1. Provision for doubtful debts (note - 3.4)
2. Provision for income tax (note - 3.1)

3 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3.1 Income tax

The tax expense for the year comprises of income tax, and is recognized in the statement of earnings. The income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the balance sheet date. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation and establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.