Condensed Interim Consolidated Statements of Financial Position
4
Condensed Interim Consolidated Statements of Income and Comprehensive Income
5
Condensed Interim Consolidated Statements of Cash Flows
6
Condensed Interim Consolidated Statements of Changes in Shareholders' Equity
7
Notes to the Condensed Interim Consolidated Financial Statements
8-29
NOTICE OF NON-REVIEW OF CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
In accordance with National Instrument 51‐102 Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of these condensed interim consolidated financial statements, they must be accompanied by a notice indicating that these condensed interim consolidated financial statements have not been reviewed by an auditor.
The accompanying unaudited condensed interim consolidated financial statements of the Company have been prepared by and are the responsibility of the Company's management.
The attached condensed interim consolidated financial statements for the three months ended December 31, 2020 have not been reviewed by the Company's auditors.
RIVERSIDE RESOURCES INC.
(An Exploration Stage Enterprise)
Consolidated Statements of Financial Position as at, (Expressed in Canadian Dollars)
Note
December 31,
September 30,
2020
2020
Assets
Current assets:
Cash and cash equivalents
15
$
3,935,516
$
4,588,578
Short-term investments
5
1,901,213
1,463,312
Share subscription receivable
12
13,750
13,750
Receivables
6
816,055
596,452
Prepaid expenses
7
78,449
109,672
6,744,983
6,771,764
Equipment
8
234,441
232,011
Exploration and evaluation assets
9
5,558,127
5,217,947
$
12,537,551
$
12,221,722
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable and accrued liabilities
10
$
1,402,215
$
1,635,890
Provision liability
18
1,053,170
990,184
2,455,385
2,626,074
Government loan
11
32,776
31,970
Shareholders' equity:
2,488,161
2,658,044
Capital stock
12
25,014,779
24,961,986
Reserves
12
3,578,752
3,458,788
Deficit
(16,546,405)
(16,596,443)
Accumulated other comprehensive loss
(1,997,736)
(2,260,653)
10,049,390
9,563,678
$
12,537,551
$
12,221,722
Nature and continuance of operations (Note 1)
Subsequent events (Note 19)
On behalf of the Board on March 1, 2021
"Walter Henry"
Director
"Carol Ellis"
Director
Water Henry
Carol Ellis
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
4
RIVERSIDE RESOURCES INC.
(An Exploration Stage Enterprise)
Condensed Interim Consolidated Statements of Income and Comprehensive Income For the three months ended December 31,
(Unaudited- Expressed in Canadian Dollars)
Note
2020
2019
Expenses
Management and consulting fees
13
$
1,410
$
61,482
Depreciation
8
18,493
13,640
Director fees
13
9,000
9,000
Foreign exchange loss
89,699
31,825
General and administration
26,012
17,394
Interest expense
11
806
-
Investor relations
76,154
58,106
Professional fees
37,794
49,794
Property investigation and evaluation
2,828
1,699
Rent
20,315
19,348
Share-based payments
12,13
135,332
30,338
Finance income
(2,480)
(12,655)
Other income
5,13
(32,907)
(6,000)
Unrealized loss (gain) on short-term investments
5
(432,494)
(1,345,279)
Realized loss (gain) on short-term investments
5
-
385,114
Income for the period
50,038
686,194
Foreign exchange movements
262,917
144,035
Comprehensive income for the period
312,955
830,229
Income per share - basic and diluted
$
0.00
$
0.01
Weighted average number of
common shares outstanding
- basic
64,028,731
54,363,054
- diluted
72,605,175
54,363,054
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
5
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Riverside Resources Inc. published this content on 26 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2021 21:29:10 UTC.
Riverside Resources Inc. is a mineral exploration and evaluation company. The Company is engaged in the acquisition, exploration, and evaluation of assets in the Americas including Canada, the United States and Mexico. Its Canadian projects include Oakes Gold Project, Duc Project, Pichette Gold Project, Elly Project, and Revel Project. Its Mexican projects include La Union Project, Los Cuarentas Gold-Silver Project, La Silla Gold-Silver Project, Cecilia Gold-Silver Project, Sandy Gold Project, and Ariel Copper-Gold Project. The Oakes Project is located in the Oakes Township just north of Canadian National Highway 11 and about two kilometers (km) north of the town of Long Lac, Ontario. The Duc Project is located south of the town of Kapuskasing, within the Porcupine Mining District and is roughly 600 hectares in size. The Companyâs Pichette Project is 1,650 hectares and hosts gold in banded iron formation and metasediments. The Company also owns Deer Park and Sunrise projects.