1100 - 1199 West Hastings Street,
Vancouver, BC, V6E 3T5
Tel: 604-684-9384
Condensed Consolidated Interim Financial Statements
Three Months Ended March 31, 2022 and 2021
(Expressed in Canadian Dollars)
(Unaudited)
Index | Page |
Notice of No Auditor Review | 2 |
Condensed Consolidated Interim Financial Statements | |
Condensed Consolidated Interim Statements of Comprehensive Loss | 3 |
Condensed Consolidated Interim Statements of Financial Position | 4 |
Condensed Consolidated Interim Statements of Changes in Equity (Deficit) | 5 |
Condensed Consolidated Interim Statements of Cash Flows | 6 |
Notes to the Condensed Consolidated Interim Financial Statements | 7-13 |
NOTICE OF NO AUDITOR REVIEW
The accompanying unaudited condensed consolidated interim financial statements of the Company for the three months ended March 31, 2022, and comparatives for the three months ended March 31, 2021, were prepared by management and have not been reviewed or audited by the Company's auditors.
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Valterra Resource Corporation
(An Exploration Stage Company)
Condensed Consolidated Interim Statements of Comprehensive Loss
Three Months Ended March 31, 2022 and 2021
(Expressed in Canadian Dollars, Unaudited)
Note | 2022 | 2021 | |||
Operating Expenses | |||||
Administration | 8 | $ | 15,000 | $ | 15,000 |
Consulting | 8 | 5,903 | 13,463 | ||
Exploration and evaluation | 6 & 8 | 2,557 | 820 | ||
Investor relations | 8 | 1,973 | 24,591 | ||
Office and general | 8 | 10,815 | 5,490 | ||
Professional fees | 8 | 9,984 | 20,336 | ||
Regulatory fees and taxes | 6,995 | 7,863 | |||
Share-based payments | - | 1,938 | |||
Shareholders' communications | 590 | 1,250 | |||
Transfer agent | 4,477 | 5,020 | |||
58,294 | 95,771 | |||
Foreign exchange (gain) loss | (2,604) | (3,185) | ||
Unrealized (gain) loss on marketable securities | 5 | (50) | (450) | |
(2,654) | (3,635) | |||
Net Loss and Comprehensive Loss for the Peiod | $ | 55,640 | $ | 92,136 |
Loss per share - basic and diluted | $ | 0.00 | $ | 0.00 |
Weighted average number of common shares | ||||
outstanding | 82,405,144 | 61,635,144 | ||
The accompanying notes are an integral part of these condensed consolidated interim financial statements
Page 3 of 13
Valterra Resource Corporation
(An Exploration Stage Company)
Condensed Consolidated Interim Statements of Financial Position
(Expressed in Canadian Dollars, Unaudited)
March 31 | December 31 | |||||
As at | Note | 2022 | 2021 | |||
Assets | ||||||
Current | ||||||
Cash | $ | 253,395 | $ | 284,586 | ||
Receivables | 2,358 | 3,303 | ||||
Marketable securities | 5 | 11,032 | 3,450 | |||
Prepaids | 3,500 | 10,061 | ||||
270,285 | 301,400 | |||||
Non-current | ||||||
Mineral properties | 6 | - | - | |||
Reclamation bonds | 12,000 | 12,000 | ||||
Other investment | 7 | 2,400,000 | 2,400,000 | |||
2,412,000 | 2,412,000 | |||||
$ | 2,682,285 | $ | 2,713,400 | |||
Liabilities | ||||||
Current | ||||||
Accounts payable and accrued liabilities | 6 | $ | 754,912 | $ | 715,440 | |
Due to related parties | 8 | 638,561 | 653,508 | |||
1,393,473 | 1,368,948 | |||||
Equity | ||||||
Share capital | 10 | 18,109,271 | 18,109,271 | |||
Share-based payments reserve | 678,373 | 865,762 | ||||
Warrant reserve | 20,675 | 20,675 | ||||
Deficit | (17,519,507) | (17,651,256) | ||||
1,288,812 | 1,344,452 | |||||
$ | 2,682,285 | $ | 2,713,400 | |||
Approved on behalf of the Board | ||||||
"Lawrence Page" | "Brian McGrath" | |||||
The accompanying notes are an integral part of these condensed consolidated interim financial statements
Page 4 of 13
Valterra Resource Corporation
(An Exploration Stage Company)
Condensed Consolidated Interim Statements of Changes in Equity (Deficit) Three Months Ended March 31, 2022 and 2021
(Expressed in Canadian Dollars, Unaudited)
Share Capital | Share-based | Total | |||||||
Number | Payments | Warrant | Equity | ||||||
of Shares | Amount | Reserve | Reserve | Deficit | (Deficit) | ||||
Balance as at December 31, 2020 | 61,635,144 | $ 17,247,842 | $ | 609,461 | $ | 257,308 | $ (16,789,002) | $ | 1,325,609 |
Share-based payments | - | - | 1,938 | - | - | 1,938 | |||
Fair value of warrants expired | - | - | (758) | (38,768) | 39,526 | - | |||
Net loss | - | - | - | - | (92,136) | (92,136) | |||
Balance as at March 31, 2021 | 61,635,144 | $ 17,247,842 | $ | 610,641 | $ | 218,540 | $ (16,841,612) | $ | 1,235,411 |
Balance as at December 31, 2021 | 82,405,111 | $ 18,109,271 | $ | 865,762 | $ | 20,675 | $ (17,651,256) | $ | 1,344,452 |
Fair value of options expired | - | - | (187,389) | - | 187,389 | - | |||
Net loss | - | - | - | - | (55,640) | (55,640) | |||
Balance as at March 31, 2022 | 82,405,111 | $ 18,109,271 | $ | 678,373 | $ | 20,675 | $ (17,519,507) | $ | 1,288,812 |
The accompanying notes are an integral part of these condensed consolidated interim financial statements
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Valterra Resource Corporation published this content on 27 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 May 2022 08:41:30 UTC.