NEXT DYNAMICS INC.
Interim Consolidated Financial Statements
June 30, 2022
(in United States dollars)
(Unaudited)
8530 CHAMP D'EAU, SUITE 202
MONTRÉAL, QUÉBEC H1P 1Y3
Tel: 514-328-9711 Cell: 514-983-8499
Email: frlaposta@gmail.com
NEXT DYNAMICS INC.
Interim Consolidated Financial Statements June 30, 2022
(in United States dollars) (Unaudited)
INDEX
Interim Report | 1 |
Consolidated Interim Financial Statements | |
Consolidated Interim Balance Sheet | 2 |
Consolidated Interim Statements of operations | 3 |
Consolidated Interim Statement of cash flows | 4 |
Consolidated Interim Statements of changes in stockholders' deficit | 5 |
Notes to Consolidated Interim Financial Statements | 6 - 15 |
LA POSTA & ASSOCIATES
8530 CHAMP D'EAU, SUITE 202
MONTRÉAL, QUÉBEC H1P 1Y3
Tel: 514-328-9711 Cell: 514-983-8499
Email: frlaposta@gmail.com
INDEPENDENT AUDITOR'S REVIEW
To the shareholders of and the Board of Directors of
NEXT DYNAMICS INC.
We have reviewed the accompanying consolidated interim balance sheet of NEXT DYNAMICS INC. as of June 30, 2022 and the related consolidated interim statements of operations, interim statement of changes in stockholders' deficit and interim statement of cash flows for the period of three months then ended. A review includes primarily applying analytical procedures to management's financial data and making inquiries of company management. A review is substantially less in scope than an audit, the objective of which is the expression of an opinion regarding the financial statements as a whole. Accordingly, we do not express such an opinion.
Management Responsibility Paragraph
Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America for designing, implementing, and maintaining internal control relevant to the preparation and fair presentation of the financial statements.
Accountant's Responsibility
Our responsibility is to conduct the reviews in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. Those standards require us to perform procedures to obtain limited assurance that there are no material modifications that should be made to the financial statements. We believe that the results of our procedures provide a reasonable basis for our report.
Limited Assurance Paragraph
Based on our reviews, we are not aware of any material modifications that should be made to the accompanying financial statements in order for them to be in conformity with accounting principles generally accepted in the United States of America.
Montreal, Quebec, Canada
August 5, 2022
CPA auditor, CA, public accountancy permit No. A106908
1
8530 CHAMP D'EAU, SUITE 202
MONTRÉAL, QUÉBEC H1P 1Y3
Tel: 514-328-9711 Cell: 514-983-8499
Email: frlaposta@gmail.com
NEXT DYNAMICS INC.
Consolidated Interim Balance Sheet As at June 30, 2022
(in United States dollars) (Unaudited)
Unaudited | Audited | |
June 30 | December 31 | |
2022 | 2021 | |
Current Assets | $ | $ |
Cash | 77,792 | 255,192 |
Prepaid expenses and other | 4,440 | 6,744 |
82,232 | 261,936 | |
Long Term Assets | ||
Equipment (note 2) | 18,793 | 29,868 |
Operating lease-rights of use assets (note 3) | 69,120 | 81,351 |
87,913 | 111,222 | |
TOTAL ASSETS | 170,145 | 373,158 |
Current Liabilities | ||
Trade and other payable (note 4) | 28,861 | 32,619 |
Current portion-obligations rights of use assets | 22,180 | 22,180 |
51,041 | 54,799 | |
Long-Term Liabilities | ||
Obligations under rights of use assets (note 6) | 47,795 | 59,903 |
Loan payable (note 5) | 92,038 | 55,216 |
TOTAL LIABILITIES | 190,874 | 169,918 |
Shareholders' Deficit | ||
Share Capital (note 7) | ||
Additional Paid in Capital | 2,063,039 | 2,063,039 |
1,000,000,000 Authorized Common Shares-issued | ||
17,503,940 in 2022 and 2021 | 17,504 | 17,504 |
60,000 issued Preferred Shares | 60 | 60 |
Accumulated other comprehensive income | (53,949) | (49,825) |
Accumulated deficit | (2,047,383) | (1,817,538) |
(20,729) | 203,240 | |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 170,145 | 373,158 |
SEE ACCOMPANYING NOTES
APPROVES ON BEHALF OF THE BOARD
___________________________________Director
2
8530 CHAMP D'EAU, SUITE 202
MONTRÉAL, QUÉBEC H1P 1Y3
Tel: 514-328-9711 Cell: 514-983-8499
Email: frlaposta@gmail.com
NEXT DYNAMICS INC.
Consolidated Interim Statement of operations For the Period ended June 30, 2022
(in United States dollars) (Unaudited)
Unaudited | Audited | ||
June 30 | December 31 | ||
2022 | 2021 | ||
REVENUE | $ | $ | |
- | - | ||
OPERATING EXPENSES | |||
Overhead costs | 1,233 | 3,309 | |
Research & development | 22,403 | 39,458 | |
Accounting & legal | 60,428 | 80,126 | |
Management | 48,334 | 90,373 | |
Consulting - Engineering | 29,940 | 136,704 | |
Advertising & promotions | - | 34,065 | |
Licenses | 4,566 | 3,753 | |
Courier & postage | 954 | 2,299 | |
Depreciation expense | 21,631 | 49,035 | |
Insurance | - | 4,090 | |
Bank charges | 1,322 | 2,345 | |
Office supplies | 7,016 | 6,465 | |
Rent | 2,178 | 49,033 | |
Telephone | - | 1,587 | |
Transportation | - | 834 | |
Travel | 755 | 4,092 | |
IT Software | 12,772 | - | |
Meals | 4,349 | 3,883 | |
217,881 | 547,451 | ||
Loss from Operation | (217,881) | (547,451) | |
Other Income (Expense) | |||
Foreign exchange loss | (75) | (1,309) | |
Interest | (1,889) | (7,274) | |
(1,964) | (8,583) | ||
NET LOSS | (219,845) | (556,034) | |
SEE ACCOMPANYING NOTES | |||
3 | |||
8530 CHAMP D'EAU, SUITE 202 | |||
MONTRÉAL, QUÉBEC H1P 1Y3 | |||
Tel: 514-328-9711 | Cell: 514-983-8499 | ||
Email: frlaposta@gmail.com |
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Next Dynamics Inc. published this content on 11 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2022 14:06:01 UTC.