___________________________________________________________________
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.
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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
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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
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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 |
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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.