NV GOLD CORPORATION
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
(Unaudited - Prepared by Management)
SIX MONTHS ENDED FEBRUARY 28, 2023 and 2022
(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, unless otherwise specified)
AS AT
February 28, | August 31, | |||||||||
2023 | 2022 | |||||||||
ASSETS | ||||||||||
Current | ||||||||||
Cash | $ | 485,900 | $ | 1,291,948 | ||||||
Accounts receivable | 11,998 | 7,482 | ||||||||
Prepaid expenses | 102,455 | 65,470 | ||||||||
600,353 | 1,364,900 | |||||||||
Reclamation bonds (Note 5) | 183,961 | 177,229 | ||||||||
Exploration advances (Note 6) | 126,179 | 118,183 | ||||||||
Exploration and evaluation assets (Note 6) | 4,231,402 | 3,829,279 | ||||||||
$ | 5,141,895 | $ | 5,489,591 | |||||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||||
Current | ||||||||||
Accounts payable and accrued liabilities (Note 7) | $ | 32,407 | $ | 43,190 | ||||||
Due to related parties (Note 9) | - | 22,310 | ||||||||
32,407 | 65,500 | |||||||||
Shareholders' equity | ||||||||||
Share capital (Note 8) | 23,274,276 | 23,274,276 | ||||||||
Share-based payments reserve (Note 8) | 3,710,463 | 3,655,935 | ||||||||
Deficit | (21,875,251) | (21,506,120) | ||||||||
5,109,488 | 5,424,091 | |||||||||
$ | 5,141,895 | $ | 5,489,591 | |||||||
Nature of operations (Note 1) | ||||||||||
Basis of presentation (Note 2) | ||||||||||
Subsequent event (Note 14) | ||||||||||
Approved on behalf of the Board | ||||||||||
On April 6, 2023 | ||||||||||
"John Seaberg" | Director | "John Watson" | Director |
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
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NV GOLD CORPORATION
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF COMPREHENSIVE LOSS (Unaudited - Prepared by Management)
(Expressed in Canadian Dollars, unless otherwise specified)
Three Months | Three Months | Six Months | Six Months | ||||||||||||
Ended | Ended | Ended | Ended | ||||||||||||
February 28, | February 28, | February 28, | February 28, | ||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||||
EXPENSES | |||||||||||||||
Advertising and promotion | $ | 65,635 | $ | 91,188 | $ | 112,703 | $ | 179,451 | |||||||
Bank charges and interest | 1,354 | 1,418 | 2,976 | 3,145 | |||||||||||
Consulting | 88,721 | 10,000 | 178,036 | 20,000 | |||||||||||
Insurance | 7,753 | 7,395 | 15,507 | 14,790 | |||||||||||
Office and general | 2,627 | 2,696 | 6,418 | 5,654 | |||||||||||
Professional fees | 52,865 | 27,648 | 80,160 | 46,414 | |||||||||||
Property investigation (recovery) | (635) | 100,941 | 455 | 156,736 | |||||||||||
Registration and filing | 16,034 | 12,616 | 21,296 | 17,335 | |||||||||||
Shareholder costs | 8,207 | 8,921 | 13,989 | 9,718 | |||||||||||
Share-based compensation (Note 8) | 9,797 | 18,458 | 54,528 | 18,458 | |||||||||||
Transfer agent | 4,040 | 2,935 | 5,271 | 4,355 | |||||||||||
Travel and related | 253 | 222 | 7,559 | 517 | |||||||||||
Loss before other items | (256,651) | (284,438) | (498,898) | (476,573) | |||||||||||
OTHER ITEMS | |||||||||||||||
Foreign exchange gain (loss) | 11,482 | (23,385) | 45,480 | 14,325 | |||||||||||
Gain on recovery of exploration and evaluation costs | - | - | 12,082 | - | |||||||||||
Interest income | 3,160 | 594 | 8,355 | 1,311 | |||||||||||
Management fee income | - | 12,773 | - | 12,773 | |||||||||||
Other income | - | - | 63,850 | - | |||||||||||
14,642 | (10,018) | 129,767 | 28,409 | ||||||||||||
Loss and comprehensive loss for the period | $ | (242,009) | $ | (294,456) | $ | (369,131) | $ | (448,164) | |||||||
Basic and diluted loss per common share | $ | (0.01) | $ | (0.01) | $ | (0.01) | $ | (0.01) | |||||||
Weighted average number of share outstanding | |||||||||||||||
basic and diluted | 79,938,120 | 79,938,120 | 79,938,120 | 79,938,120 | |||||||||||
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
4
NV GOLD CORPORATION
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited - Prepared by Management)
(Expressed in Canadian Dollars, unless otherwise specified)
Share Capital | Share-based | Total | |||||||
Payments | Shareholders' | ||||||||
No. of Shares | Amount | Reserve | Deficit | Equity | |||||
Balance, August 31, 2021 | 79,938,120 | $ | 23,274,276 | $ | 3,487,649 | $ | (20,254,800) | $ | 6,507,125 |
Share-based compensation | 18,458 | - | 18,458 | ||||||
Loss for the period | - | - | - | (448,164) | (448,164) | ||||
Balance, February 28, 2022 | 79,938,120 | $ | 23,274,276 | $ | 3,506,107 | $ | (20,702,964) | $ | 6,077,419 |
Share-based compensation | - | - | 149,828 | - | 149,828 | ||||
Loss for the period | - | - | - | (803,156) | (803,156) | ||||
Balance, August 31, 2022 | 79,938,120 | $ | 23,274,276 | $ | 3,655,935 | $ | (21,506,120) | $ | 5,424,091 |
Share-based compensation | 54,528 | - | 54,528 | ||||||
Loss for the period | - | - | - | (369,131) | (369,131) | ||||
Balance, February 28, 2023 | 79,938,120 | $ | 23,274,276 | $ | 3,710,463 | $ | (21,875,251) | $ | 5,109,488 |
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
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NV Gold Corporation published this content on 07 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 April 2023 15:24:08 UTC.