SILO WELLNESS INC. SILO WELLNESS INC.
(FORMERLY YUKOTERRE RESOURCES INC.)
CONDENSED INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
For the three months ended January 31, 2022 and 2021
(Expressed in U.S. Dollars)
(Unaudited)
Silo Wellness Inc. (formerly Yukoterre Resources Inc.)
NOTICE OF NO AUDITOR REVIEW OF 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 interim consolidated financial statements they must be accompanied by a notice indicating that the 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 Company's independent auditor has not performed a review of these condensed interim consolidated financial statements in accordance with standards established by the Canadian Institute of Chartered Accountants for a review of interim financial statements by an entity's auditor.
SILO WELLNESS INC.
(FORMERLY YUKOTERRE RESOURCES INC.)
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
AS AT JANUARY 31, 2021 AND OCTOBER 31, 2021
(Expressed in U.S. dollars)
(Unaudited)
As at:
NotesJanuary 31, 2022
October 31, 2021
$
$
ASSETS Current
Cash
4,207
98,345
Other receivables and prepaid expenses Inventories
9(v)
301,651 425,229
61,706 89,520
Total current assets
Total assets
367,564 367,564
613,094 613,094
LIABILITIES Current
Accounts payables and accrued liabilities Due to related parties
Loans payable Convdertible loan Derivative liability
14 12 8
875,472 686,850
260,300 215,239
33,251 33,234
9 - 24,785
9 - 11,957
Total current liabilities
1,169,023
972,065
EQUITY
Share capital Warrants Options Contributed surplus
10 10
7,130,135 6,838,594
1,110,462 1,110,462
671,259 658,167
11
26,693 26,693
Accumulated other comprehensive gain Deficit
836 (952)
(9,740,844)
(8,991,935)
Total shareholders' deficit
Total liabilities and shareholders' deficit
(801,459) 367,564
(358,971) 613,094
Going concern (Note 1)
Commitments and contingencies (Note 13)
Subsequent events (Note 16)
Approved and authorized for issue by the directors on March 28, 2022 _______________________ Director
_______________________ Director
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
4
SILO WELLNESS INC.
(FORMERLY YUKOTERRE RESOURCES INC.)
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF LOSS
AND COMPREHENSIVE LOSS
FOR THE THREE MONTHS ENDED JANUARY 31, 2022 AND 2021
(Expressed in U.S. dollars, except per share amounts)
(Unaudited)
Sales
Cost of goods sold
Three months | Three months | |
ended | ended | |
Notes | January 31, 2022 | Janaury 31, 2021 |
$ | $ |
19,018 (15,174)
67,479 (32,216) 35,263
3,844
Expenses
Advertising and promotion Consulting and management fees Professional fees
340,233 45,455
12
316,144 87,461
49,686 37,156
General and administrative expenses Stock based compensation Amortization
54,007 50,770
11 7
13,092
-- 54,520
Interest expense and bank charges Foreign exchange loss
3,726 1,432
1,898 476
778,786
277,270
Loss on issuing shares for debt Loss and for the year
9
5,386
-
748,909
273,426
Other comphresive loss:
Items that subsequently may be reclassified into net income: Foreign currency translation
Total comprehensive loss for the period
(1,788) 747,121
- 273,426
Basic and diluted loss per share Weighted average number of common shares outstanding - basic and diluted
$
0.01
$
75,399,210
0.01 35,066,730
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
5
SILO WELLNESS INC.
(FORMERLY YUKOTERRE RESOURCES INC.)
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' DEFICIENCY
FOR THE THREE MONTHS ENDED JANUARY 31, 2022 AND 2021
(Expressed in U.S. dollars, except share amounts)
(Unaudited)
Accumulated other
Accumulated | |||||||||
Warrants | Optoins | Deficit | Equity | ||||||
# | $ | $ | $ | $ | $ | ||||
Balance, October 31, 2020 | 71,402,505 | 6,838,594 | 1,110,462 | 658,167 | 26,693 | (8,991,935) | (952) | (358,971) | |
Shares for debt | 9(vi) | 6,762,239 | 291,541 | - | - | - | - | - | 291,541 |
Stock based compensation | 11 | - | - | - | 13,092 | - | - | - | 13,092 |
Loss and comprehensive loss for the period | - | - | - | - | - | (748,909) | 1,788 | (747,121) | |
Balance, January 31, 2022 | 78,164,744 | 7,130,135 | 1,110,462 | 671,259 | 26,693 | (9,740,844) | 836 | (801,459) | |
Balance, October 31, 2020 | 35,066,730 | 2,747,434 | - | - | - | (2,783,053) | - | (35,619) | |
Loss and comprehensive loss for the period | - | - | - | - | - | (273,426) | (273,426) | ||
Balance, January 31, 2021 | 2,747,434 | (3,056,479) | (309,045) |
Contributed
Notes
Class A shares
Surplus $
comprehensive gain
-35,066,730
-
-
-
-
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
6
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Yukoterre Resources Inc. published this content on 30 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 March 2022 20:24:41 UTC.
