NV GOLD CORPORATION
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
(Unaudited - Prepared by Management)
SIX MONTHS ENDED FEBRUARY 28, 2022 and 2021
(Expressed in Canadian Dollars)
NOTICE OF NO AUDITOR REVIEW OF
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
Under National Instrument 51-102, Part 4, subsection 4.3 (3) (a), if an auditor has not performed a review of the condensed consolidated interim financial statements, they must be accompanied by a notice indicating that an auditor has not reviewed the financial statements.
The accompanying unaudited condensed consolidated interim financial statements of the Company have been prepared by and are the responsibility of the Company's management.
The Company's independent auditor has not performed a review of these condensed consolidated interim financial statements in accordance with standards established by the Chartered Professional Accountants of Canada for a review of condensed consolidated interim financial statements by an entity's auditor.
NV GOLD CORPORATION
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION (Unaudited - Prepared by Management)
(Expressed in Canadian Dollars)
AS AT
February 28,
2022
August 31, 2021
ASSETS
Current
Cash
Accounts receivable Prepaid expenses
$ 2,129,224 7,309 163,140
$ 3,506,257 26,333 274,414
2,299,673
3,807,004
Reclamation bonds (Note 5)
171,646 184,390
Exploration advances (Note 6)
456,759 150,318
Exploration and evaluation assets (Note 6) 3,178,756 2,546,439
$
6,106,834
$ 6,688,151
LIABILITIES AND SHAREHOLDERS' EQUITY
Current
Accounts payable and accrued liabilities (Note 7)
$
23,231
$ 125,608
Due to related parties (Note 9)
6,184 55,418 29,415 181,026
Shareholders' equity
Share capital (Note 8) 23,274,276 23,274,276
Share-based payments reserve (Note 8) 3,506,107 3,487,649
Deficit
(20,702,964)
(20,254,800)
6,077,419 6,507,125
$
6,106,834
$ 6,688,151
Nature of operations (Note 1)
Basis of presentation (Note 2)
Events subsequent to the reporting period (Note 14)
Approved on behalf of the Board
On April 5, 2022
"Alfred Stewart"
Director
"John Watson"
DirectorThe accompanying notes are an integral part of these condensed consolidated interim financial statements.
3
NV GOLD CORPORATION
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF COMPREHENSIVE LOSS (Unaudited - Prepared by Management)
(Expressed in Canadian Dollars)
Three MonthsThree MonthsSix MonthsSix Months
Ended February 28, 2022
Ended February 28, 2021
Ended February 28, 2022
Ended February 28, 2021
EXPENSES
Advertising and promotion Bank charges and interest Consulting
$
91,188
$
38,562
$
179,451 $ 163,793
1,418
1,458
3,145 2,683
10,000
52,481
20,000 115,147
Insurance
7,395
5,750
14,790 11,500
Office and general Professional fees Property investigation Registration and filing Shareholder costs
2,696
3,580
5,654 9,306
27,648
14,974
46,414 40,454
100,941
19,757
156,736 20,318
12,616
12,728
17,335 19,092
8,921
Share-based compensation (Note 8) Transfer agent
18,458
5,760 -
9,718 9,238
18,458 319,942
2,935
2,144
4,355 4,387
Travel and related
222
867
517 6,710
Loss before other items
(284,438)
(158,061)
(476,573) (722,570)
OTHER ITEMS
Foreign exchange gain (loss) Interest income Management fee income Write-down of exploration and evaluation assets (Note 6)
(23,385)
(12,260)
14,325 (14,645)
594 12,773
3,166 -
1,311 12,773
3,286 --
(49,778)
- (667,460)
(10,018)
(58,872)
28,409 (678,819)
Loss and comprehensive loss for the periodBasic and diluted loss per common share
$ $
(294,456)
(0.01)
$ $
(216,933)
$ (448,164)
$ (1,401,389)
(0.01)
$
(0.01)
$
(0.02)
Weighted average number of shares outstanding
79,938,120
64,803,937
79,938,120
64,790,981
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
4
NV GOLD CORPORATION
CONDERNSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited - Prepared by Management)
(Expressed in Canadian Dollars)
Share Capital
Share-based
Total
Payments
Shareholders'
No. of Shares
Amount
Reserve
Deficit
EquityBalance, August 31, 2020
64,758,937
$
19,616,695
$
2,733,890
$
(14,709,692)
$
7,640,893
Warrants exercised Share-based compensation Loss for the period
45,000 - -9,000 - -
- - 9,000
319,942 - 319,942
-
(1,401,389)
(1,401,389)
Balance, February 28, 2021
64,803,937 $
19,625,695 $
3,053,832
$
(16,111,081)
$ 6,568,446
Private placement Warrants exercised Share issue costs Share-based compensation Loss for the period
12,000,000 3,134,183 - - -
3,000,000 679,529 (30,948)
- - 3,000,000
(47,692)
- -
- 481,509 -
- - -
(4,143,719)
631,837 (30,948) 481,509 (4,143,719)
Balance, August 31, 2021
79,938,120
$
23,274,276
$
3,487,649
$
(20,254,800)
$
6,507,125
Share-based compensation Loss for the period
- -
- -
18,458 -
- (448,164)
18,458 (448,164)
Balance, February 28, 2022
79,938,120
$
23,274,276
$
3,506,107
$
(20,702,964)
$
6,077,419
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
5
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NV Gold Corporation published this content on 05 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 April 2022 21:28:52 UTC.