___________________________________________________________________

Condensed Interim Consolidated Financial Statements

For the six months ended January 31, 2022, and 2020

Presented in Canadian dollars ____________________________________________________________

NOTICE TO READER

NO AUDITOR REVIEW OF CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

The accompanying unaudited condensed 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 interim consolidated financial statements in accordance with standards established by the Canadian Institute of Chartered Professional Accountants for a review of interim financial statements.

Page | 1

Condensed Interim Consolidated Statements of Financial Position (Expressed in Canadian Dollars)

NoteASSETS Current assets Cash

January 31, 2022

July 31, 2021

$

58,953 $

1,467,649

Accounts receivable Prepaid expenses Total current assets

3

989,309 853,423

52,068 276,902

$

1,100,330 $ 2,597,974

Exploration and evaluation assets TOTAL ASSETS

4

23,036,825 22,094,865

$

24,137,155 $

24,692,839

LIABILITIES Current liabilities

Accounts payable and accrued liabilities Short-term loan

Shares to be issued Total current liabilities Contingent consideration Total liabilities

5 6 7

$

334,726 $ 71,457 560,000

983,157 - 2,255,500

$

966,183 $ 3,238,657

8

5,598,060 6,603,844

$

6,564,243 $

9,842,501

SHAREHOLDERS' EQUITY Share capital

8 8

18,897,611 17,025,164

Contributed surplus Accumulated deficit Total shareholders' equity

2,957,426 2,871,240

(4,282,125)

(5,046,066)

$

17,572,912 $

14,850,338

Total liabilities and shareholders' equity

$

24,137,155 $

24,692,839

Nature of operations and going concern (Note 1)

Subsequent events (Note 13)

Approved on behalf of the board of directors on March 30, 2022:

"Michael Konnert"

________________________________ Michael Konnert, Chairman of the Board

"Lorne Warner" ________________________________ Lorne Warner, Director

The accompanying notes are an integral part of these condensed interim consolidated financial statements

Page | 0

Condensed Interim Consolidated Statements of Operations and Comprehensive Income / (Loss) (Expressed in Canadian Dollars)

Three MonthsNoteThree Months

Ended January 31, 2022

Six Months

Ended January 31, 2021

Six Months

Ended January 31, 2022

Ended January 31, 2021

EXPENSES Consulting fees

General and administrative costs Insurance

Management fees Professional fees Project investigation

Shareholder information and investor relations Stock-based compensation

Transfer agent and filing fees

  • 11 $

72,005 $

401,510 $

135,422 $ 575,167

43,655

79,340

94,468 188,394

14,640

468 -

28,508 42,346

11

37,603

73,853

-

3,439

36,043

6,007 42,688

19,816

8,735

38,316 34,162

124,444

79,242

286,109 439,036

Other income (expenses)

Foreign exchange loss Interest expense Interest income

Fair value gain of shares issued Contingent consideration revaluation gain

$

(507,336) $

177,987

13,747

(988,767) $

376,628

6,801

(863,554) $

177,987 22,884

1,289,449 28,093 (2,639,335)

8 8

(379,529)

212,257

640,374

(24)

10

- - 2,089 - -

(25,344)

732,257

854,826

(24)

183

- - 2,089 - -

NET AND COMPREHENSIVE INCOME / (LOSS)

$ $

(34,248) $

(986,678) $

698,344 $

(2,637,246)

INCOME / (LOSS) PER SHARE (basic and diluted)

(0.00) $

(0.02) $

0.01 $

(0.04)

WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING (basic and diluted)

84,303,226

61,738,079

81,072,357

59,710,927

Page | 1

TARACHI GOLD CORP.

Condensed Interim Consolidated Statements of Cash Flows (Expressed in Canadian Dollars)

Six Months

Six Months

Ended

Ended

January 31,

January 31,

2022

2021

OPERATING ACTIVITIES

$

$

Net income / (loss) for the year

698,344

(2,637,246)

Item not effecting cash:

Stock based compensation

177,987

1,289,449

Foreign exchange loss

25,344

-

Shares issued for services

-

8,532

Fair value gain of shares issued

(854,826)

-

Contingent consideration revaluation gain

(732,257)

-

Changes in non-cash working capital items:

Change in tax and other receivable

(135,886)

-

Change in prepaid expenses

224,834

(63,713)

Change in accounts payable and accrued liabilities

(648,432)

(21,844)

(1,244,892)

(1,424,822)

INVESTING ACTIVITIES

Exploration and evaluation assets - acquisition

-

(53,172)

Exploration and evaluation assets - expenditures

(821,804)

(1,750,052)

(821,804)

(1,803,224)

FINANCING ACTIVITIES

Proceeds from issuance of shares, net of share issuance costs

650,500

7,550,940

Proceeds from options exercised

7,500

13,600

Proceeds from warrant exercised

-

102,500

658,000

7,667,040

NET CHANGE IN CASH

(1,408,696)

4,438,994

CASH, beginning of the period

1,467,649

2,568,358

CASH, end of the period

58,953

7,007,352

Page | 2

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Tarachi Gold Corp. 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 16:22:04 UTC.