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    MUN   CA6261351077

MUNDORO CAPITAL INC.

(MUN)
Delayed Bourse de Toronto  -  05/19 02:47:41 pm EDT
0.1750 CAD   +2.94%
05/02Mundoro Capital Inc. Reports Earnings Results for the Full Year Ended December 31, 2021
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04/30MUNDORO CAPITAL : MANAGEMENT DISCUSSION AND ANALYSIS December 31, 2021 Expressed in Canadian Dollars
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04/03MUNDORO CAPITAL : Consolidated Financial Statements December 31, 2021 Expressed in Canadian Dollars
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Mundoro Capital : Third Quarter Interim Financials - Sep 30, 2021

11/23/2021 | 05:59pm EDT

Mundoro Capital Inc.

Condensed Interim Consolidated Financial Statements

(Unaudited)

September 30, 2021

Expressed in Canadian Dollars

Reader's Note:

These unaudited condensed interim consolidated financial statements of Mundoro Capital Inc. have been

prepared by management and have not been reviewed by the Company's auditors.

MUNDORO CAPITAL INC.

(An exploration stage company)

Consolidated Statements of Financial Position (Unaudited)

(Expressed in Canadian Dollars)

As at

September 30, 2021

December 31, 2020

(Unaudited)

ASSETS

Current assets

Cash and cash equivalents

$

3,885,749

$

2,083,665

Amounts receivable (note 4)

103,724

136,900

Deposits

37,469

19,806

Prepaid expenses

119,983

92,076

4,146,925

2,332,447

Non-current assets

Investments (note 5)

574,484

493,964

Equipment and vehicles (note 6)

138,554

189,184

Mineral interests (note 7)

224,025

72,474

937,063

755,622

TOTAL ASSETS

$

5,083,988

$

3,088,069

LIABILITIES

Current liabilities

Accounts payable and accrued liabilities (notes 10 & 12)

$

412,668

$

361,240

Advances from joint venture partners (note 10)

416,812

519,728

Short-term loan (note 8)

40,000

-

TOTAL LIABILITIES

869,480

880,968

EQUITY

Share capital (note 11)

53,500,308

50,384,465

Contributed surplus

8,994,887

8,994,887

Stock options reserve

1,458,922

1,205,763

Accumulated other comprehensive income

(104,441)

(74,023)

Deficit

(59,635,168)

(58,303,991)

TOTAL EQUITY

4,214,508

2,207,101

TOTAL EQUITY AND LIABILITIES

$

5,083,988

$

3,088,069

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

These condensed interim consolidated financial statements are authorized for issue by the Board of Directors on November 23, 2021.

The are signed on the Company's behalf by:

/s/ Michael Calyniuk, Director

/s/ Teo Dechev, Director

Page 2 of 13

MUNDORO CAPITAL INC.

(An exploration stage company)

Consolidated Statements of Loss and Comprehensive Loss (Unaudited)

(Expressed in Canadian Dollars)

For the three months ended

For the nine months ended

September 30,

September 30,

September 30,

September 30,

2021

2020

2021

2020

Exploration and project evaluation (note 9)

$

638,423

$

471,358

$

2,343,774

$

2,213,508

Less: recoveries

(214,660)

(236,828)

(1,492,611)

(1,434,645)

423,763

234,530

851,163

778,863

EXPENSES

Regulatory and corporate governance

82,917

40,680

191,616

145,616

General and administrative

24,051

22,894

76,888

79,508

Accounting and audit

34,593

33,347

126,805

116,951

Corporate communication

92,289

51,712

162,540

164,450

Operator fees earned

(21,466)

(23,683)

(149,261)

(139,985)

212,384

124,950

408,588

366,540

LOSS BEFORE OTHER EXPENSES

636,147

359,480

1,259,751

1,145,403

OTHER (INCOME) EXPENSES

Interest and other income

(1,272)

(1,064)

(23,967)

(4,885)

Share-based payments

91,604

21,986

253,160

104,033

Depreciation (note 6)

8,853

28,944

38,978

60,187

Change in fair value of investments

26,049

(85,248)

(80,520)

(201,188)

Gain on disposal of fixed assets

-

1,466

-

1,466

Write-down of mineral properties

-

389,317

-

389,317

Foreign exchange (gain) loss

(285,892)

(247,098)

(116,225)

(602,838)

(160,658)

108,303

71,426

(253,908)

NET LOSS (INCOME) FOR THE PERIOD

$

475,489

$

467,783

1,331,177

$

891,495

OTHER COMPREHENSIVE (INCOME) LOSS WHICH MAY

BE RE-CLASSIFIED TO PROFIT OR LOSS

IN SUBSEQUENT PERIODS

Foreign currency translation differences

for foreign operations

180,611

159,067

30,418

386,305

TOTAL COMPREHENSIVE LOSS FOR THE PERIOD

$

656,100

$

626,850

$

1,361,595

$

1,277,800

Loss per share

Basic and diluted gain (loss) per share:

$

(0.01)

$

(0.01)

$

(0.01)

$

(0.01)

Page 3 of 13

MUNDORO CAPITAL INC.

(An exploration stage company) Consolidated Statements of Change in Equity (Unaudited)

(Expressed in Canadian Dollars)

Share capital

Reserves

Accum. Other

Contributed

Stock options

Comprehensive

Number of shares

Amount

Surplus

reserve

Income

Deficit

Total

Balance at December 31, 2019

80,664,527

$

50,288,125

$

9,000,153

$

1,090,160

$

61,321

$

(56,476,395)

$

3,963,364

Units issued for cash-private

735,473

99,289

-

-

-

-

99,289

placement

Units issued for cash-stock option

45,001

5,400

-

-

-

-

5,400

Share issue costs

-

(8,349)

-

-

-

-

(8,349)

Share-based payments (Note 11 (b))

-

-

(5,266)

115,603

-

-

110,336

Net comprehensive loss for the year

-

-

-

-

(135,344)

(1,827,596)

(1,962,940)

Balance at December 31, 2020

81,445,001

$

50,384,465

$

8,994,887

$

1,205,763

$

(74,023)

$

(58,303,991)

$

2,207,101

Balance at December 31, 2020

81,445,001

$

50,384,465

$

8,994,887

$

1,205,763

$

(74,023)

$

(58,303,991)

$

2,207,101

Units issued for cash-private

19,287,500

3,086,000

-

-

-

-

3,086,000

placement

Units issued for cash-stock option

1,016,795

124,350

-

-

-

-

124,350

Share issue costs

-

(94,507)

-

-

-

-

(94,507)

Share-based payments (Note 11 (b))

-

-

-

253,160

-

-

(8,741,727)

Net comprehensive loss for the period

-

-

-

-

(30,418)

(1,331,177)

7,633,292

Balance at September 30, 2021

101,749,296

$

53,500,308

$

8,994,887

$

1,458,922

$

(104,441)

$

(59,635,168)

$

4,214,508

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

Page 4 of 13

MUNDORO CAPITAL INC.

(An exploration stage company) Consolidated Statements of Cash Flows (Unaudited)

(Expressed in Canadian Dollars)

For the nine months ended

September 30, 2021

September 30, 2020

Cash flows provided from (used in):

OPERATING ACTIVITIES

Net Income (loss) for the period

$

(1,331,177)

$

(891,495)

Adjustments for items not affecting cash:

Depreciation

38,978

51,580

Share-based payments

253,159

104,033

Foreign exchange (gain) loss

(116,225)

(602,838)

Change in fair value of investments (note 5)

(80,520)

(201,188)

Write-down of mineral properties

-

389,317

(1,235,785)

(1,150,591)

Net changes in non-cash working capital items:

Amounts receivable

23,354

929,542

Prepaid expenses

(29,344)

(23,257)

Deposits

(18,803)

(1,330)

Accounts payable and accrued liabilities

67,071

(623,601)

Advances from option partners

(102,916)

(204,400)

Net cash provided by (used in) operating activities

(1,296,423)

(1,073,637)

FINANCING ACTIVITIES

Funds transferred from escrow, net of costs

-

(8,349)

Issuance of common shares for cash, net of share issue costs

3,086,000

99,289

Issuance of common shares for cash, stock option exercise

124,350

-

Share issuance cost

(94,507)

-

Proceeds from government loan

40,000

-

Net cash flows from financing activities

3,155,843

90,940

INVESTING ACTIVITIES

Expenditures on resource properties

(155,166)

(5,824)

Purchase of equipment

(11,173)

(15,071)

Proceeds from disposition of assets

15,463

26,014

Restricted cash

-

1,773

Net cash flows from investing activities

(150,876)

6,892

Effects of exchange rate changes on cash and cash equivalents

93,540

186,332

Net increase (decrease) in cash and cash equivalents

1,802,084

(789,474)

Cash and cash equivalents, beginning of period

2,083,665

2,744,516

Cash and cash equivalents, end of period

$

3,885,749

$

1,955,043

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

Page 5 of 13

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

Disclaimer

Mundoro Capital Inc. published this content on 23 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 November 2021 22:59:10 UTC.


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Sales
Net income
Net Debt
P/E ratio
Yield
Capitalization 18,2 M 14,2 M 14,2 M
EV / Sales -1
EV / Sales 0
Nbr of Employees -
Free-Float 97,0%
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Income Statement Evolution
Managers and Directors
Teodora Dechev President, Chief Executive Officer & Director
Peter Guy Wong Chief Financial Officer
John Joseph Hoey Independent Director
Michael Calyniuk Independent Director
Nicholas Philip Hatch Independent Director
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