QUADRO RESOURCES LTD. QUADRO RESOURCES LTD.
CONDENSED INTERIM FINANCIAL STATEMENTS
Nine Months Ended April 30, 2022
(Unaudited - Prepared by Management)
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NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL REPORT
The accompanying unaudited interim financial report of the Company has been prepared by and is the responsibility of the Company's management. The Company's independent auditor has not performed a review of this financial report.
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QUADRO RESOURCES LTD. Interim Statements of Financial Position
(Unaudited - Prepared by Management)
April 30, | July 31, | |||
2022 | 2021 | |||
ASSETS | ||||
Current | ||||
Cash | $ | 709,229 | $ | 1,450,445 |
Receivable (Note 4) | 57,299 | 37,669 | ||
766,528 | 1,488,114 | |||
Non-current | ||||
Equipment (Note 5) | 643 | 2,106 | ||
Exploration and evaluation assets (Note 6, Note 8) | 3,586,265 | 2,802,207 | ||
3,586,908 | 2,804,313 | |||
Total assets | $ | 4,353,436 | $ | 4,292,427 |
LIABILITIES | ||||
Current | ||||
Flow through liability (Note 9) | $ | - | $ | 98,613 |
Trade and other payables (Note 7) | 83,896 | 229,605 | ||
Amounts due to related parties (Note 8) | 5,000 | 5,000 | ||
88,896 | 333,218 | |||
Total liabilities | 88,896 | 333,218 | ||
SHAREHOLDERS' EQUITY | ||||
Share capital (Note 10) | 15,896,911 | 15,360,471 | ||
Share-based payment reserve (Note 11) | 1,303,845 | 1,303,845 | ||
Deficit | (12,936,216) | (12,705,107) | ||
Total shareholders' equity | 4,264,540 | 3,959,209 | ||
Total liabilities and shareholders' equity | $ | 4,353,436 | $ | 4,292,427 |
Nature of operations and going concern (Note 1) |
The financial statements were authorized for issue by the Board of Directors on June 20, 2021 and were signed on its behalf by:
"T. Barry Coughlan" | "Brian Corrall" | ||
Director | Director | ||
The accompanying notes are an integral part of these financial statements. |
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QUADRO RESOURCES LTD.
Interim Statements of Operations and Comprehensive Income (Loss) (Unaudited - Prepared by Management)
Three months ended | Nine Months ended | |||||||
April 30, | April 30, | April 30, | April 30, | |||||
2022 | 2021 | 2022 | 2021 | |||||
Expenses | ||||||||
Accounting and audit | $ | 1,200 | $ | 1,200 | $ | 32,205 | $ | 28,157 |
Consulting | 12,000 | 62,000 | 49,600 | 114,753 | ||||
Depreciation (Note 5) | 488 | 312 | 1,463 | 936 | ||||
Legal fees | - | - | 19,697 | 22,418 | ||||
Management fees (Note 8) | 37,500 | 37,500 | 114,500 | 98,000 | ||||
Media and news dissemination | 9,000 | - | 18,000 | 3,510 | ||||
Office and miscellaneous | 14,122 | 3,498 | 22,913 | 25,913 | ||||
Rent | 8,996 | 6,000 | 36,378 | 16,625 | ||||
Share-based payments (Note 10) | - | 314,965 | - | 314,965 | ||||
Transfer agent and filing fees | 11,083 | 12,365 | 19,816 | 44,764 | ||||
Travel and promotion | 3,868 | 6,706 | 15,151 | 21,875 | ||||
Total expenses | (98,257) | (444,546) | (329,723) | (691,916) | ||||
Write-down of accounts payable | - | - | - | 1,921 | ||||
Flow through premium recovery | - | - | 98,614 | - | ||||
Write-down of exploration and evaluation assets (Note 6) | - | - | - | (162,877) | ||||
- | - | 98,614 | (160,956) | |||||
Net income(loss) and comprehensive income(loss) for the period | (98,257) | (444,546) | (231,109) | (852,872) | ||||
Basic and diluted net loss per share | $ | (0.00) | $ | (0.01) | $ | (0.00) | $ | (0.01) |
Weighted average number of common shares | ||||||||
outstanding (basic and diluted) | 82,634,774 | 72,621,441 | 77,314,115 | 60,522,347 |
The accompanying notes are an integral part of these financial statements.
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QUADRO RESOURCES LTD.
InterimStatements of Changes in Shareholders' Equity (Unaudited - Prepared by Management)
Number of | Share capital | Share-based payment | |||||||
shares issued | reserve | Deficit | Total | ||||||
Balance, July 31, 2020 | 51,390,498 | $ | 13,608,755 | $ | 867,599 | $ | (11,904,131) | $ | 2,572,223 |
Flow-through private placement | 6,043,943 | 1,027,470 | - | - | 1,027,470 | ||||
Non-flow-through private placement | 4,700,000 | 611,000 | - | - | 611,000 | ||||
Share issue costs - cash | - | (91,565) | - | - | (91,565) | ||||
Share issuance costs | - | (44,061) | 44,061 | - | - | ||||
Acquisition of exploration and evaluation assets | 1,300,000 | 108,500 | - | - | 108,500 | ||||
Exercised of warrants | 9,187,000 | 459,350 | - | - | 459,350 | ||||
Share-bassed payments | - | - | 314,965 | - | 314,965 | ||||
Comprehensive loss for the period | - | - | - | (852,872) | (852,872) | ||||
Balance, April 30, 2021 | 72,621,441 | $ | 15,679,449 | $ | 1,226,625 | $ | (12,757,003) | $ | 4,149,071 |
Number of | Share-based payment | ||||||||||
shares issued | Share capital | reserve | Deficit | Total | |||||||
Balance, July 31, 2021 | 72,621,441 | 15,360,471 | 1,303,845 | (12,705,107) | $ | 3,959,209 | |||||
Flow-through private placement | 4,553,333 | 273,200 | - | - | 273,200 | ||||||
Non-flow-through private placement | 3,660,000 | 183,000 | - | - | 183,000 | ||||||
Share issue costs - cash | - | (18,760) | - | - | (18,760) | ||||||
Acquisition of exploration and evaluation assets | 1,800,000 | 99,000 | - | - | 99,000 | ||||||
Comprehensive loss for the period | - | - | - | (231,109) | (231,109) | ||||||
Balance, April 30, 2022 | 82,634,774 | $ | 15,896,911 | $ | 1,303,845 | $ | (12,936,216) | $ | 4,264,540 | ||
The accompanying notes are an integral part of these financial statements. | 5 | P a g e |
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Quadro Resources Ltd. published this content on 14 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 June 2022 16:32:01 UTC.
