TONOGOLD RESOURCES, INC. TONOGOLD RESOURCES, INC.
FINANCIAL STATEMENTS
(Unaudited)
For the Nine months ended September 30th, 2021 and 2020
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CONTENTS
PART 1
FINANCIAL STATEMENTS | |
Condensed Balance Sheets | 3 |
Condensed Statements of Operations | 4 |
Condensed Statements of Cash Flow | 5 |
Condensed Statements of Stockholders' (Deficit) | 6 |
Notes to Condensed Financial statements | 7 |
PART 2
MANAGEMENT DISCUSSION | 27 |
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Tonogold Resources Inc
Condensed Balance Sheet
Unaudited
As at . 30-Sep-2021 | 31-Dec-2020 |
ASSETS | ||||
Cash | $ | 8,446 | $ | 3,208,763 |
Prepaid expenses | $ | - | $ | 342,269 |
Total Current Assets | $ | 8,446 | $ | 3,551,032 |
Fixed Assets | $ | 46,251 | $ | 16,139 |
Property, plant and equipment, net | ||||
Investment in Mil-ler Resources and Energy SA CV (Note 6a) | $ | 1 | $ | 1 |
Investment in Persistence Mining (Note 5i) | $ | 5,000 | $ | 5,000 |
Investment in Comstock | $ | 35,265,690 | $ | 29,990,144 |
Total Assets | $ | 35,325,389 | $ | 33,562,316 |
LIABILITIES AND STOCKHOLDERS' (DEFICIT) Current Liabilities
Convertible Note (Comstock consideration) Note 6d(iv) Accounts payable
Share subscription account (Note 7j(ii)) Accruals other
Accrued payroll - Directors Accrued interest - Note 8e (ii) Accrued payroll taxes
Convertible loans payable - Note 8e (i)
Total Current Liabilities
Stockholders' Deficit
Redeemable Convertible Preference Share 1,000,000 authorized as at September 30th 2021 and December 31st 2020
Series D preferred Shares 10,000 Authorised zero issued and outstanding at September 30th 2021 and December 31st 2020
Common stock, $0.001 par value: 699,000,000 shares authorized (at September 30th 2021 and December 31st 2020), 345,545,338 shares issued and outstanding at September 30th 2021 and 337,567,406 at December 31, 2020
Additional paid-in capital
Deficit accumulated
Total Stockholders' Deficit
Total Liabilities and Stockholder's (Deficit)
$ | 6,650,000 | $ | 4,475,000 | ||||
$ | - | $ | - | ||||
$ | 700,000 | $ | 479,148 | ||||
$ | 862,713 | $ | 441,625 | ||||
$ | 382,895 | $ | 526,624 | ||||
$ | 2,783,280 | $ | 1,550,995 | ||||
$ | 98,434 | $ | 173,743 | ||||
$ | 11,492,168 | $ | 11,507,168 | ||||
$ | 22,969,490 | $ | 19,154,302 |
$ | - | $ | - | ||||
$ | 345,544 | $ | 337,568 | ||||
$ | 47,147,709 | $ | 45,759,314 | ||||
$ | (35,137,354) | $ | (31,688,868) | ||||
$ | 12,355,899 | $ | 14,408,014 | ||||
$ | 35,325,389 | $ | 33,562,316 |
The accompanying notes are an integral part of these unaudited financial statements
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Tonogold Resources Inc
Statement of Operations
(Unaudited)
Net Revenues
Cost of Revenue
Gross Profit/(Loss)
Operating Expenses
Mineral Property Costs
General and Administration
Total Operating Expenses
Loss from Operations
Interest expense - Note 8e (ii)
Loss before Provision for income taxes
Provision for Income Taxes
NET GAIN/(LOSS)
Net loss per share - on issue Net loss per share - fully diluted Weighted number of shares on issue Weighted number of shares fully diluted
3 months ending Sept 30th | 9 months ending Sept 30th | ||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||
$ | - | $ | - | $ | - | $ | - | ||||||||||||
$ | - | $ | - | $ | - | $ | - | ||||||||||||
$ | - | $ | - | $ | - | $ | - | ||||||||||||
$ | - | $ | - | $ | - | $ | - | ||||||||||||
$ | 734,556 | $ | 663,535 | $ | 2,212,145 | $ | 1,846,692 | ||||||||||||
$ | 734,556 | $ | 663,535 | $ | 2,212,145 | $ | 1,846,692 | ||||||||||||
$ | (734,556) | $ | (663,535) | $ | (2,212,145) | $ | (1,846,692) | ||||||||||||
$ | 429,104 | $ | 480,904 | $ | 1,236,342 | $ | 1,053,253 | ||||||||||||
$ | (1,163,660) | $ | (1,144,439) | $ | (3,448,487) | $ | (2,899,945) | ||||||||||||
$ | - | $ | - | $ | - | ||||||||||||||
$ | (1,163,660) | $ | (1,144,439) | $ | (3,448,487) | $ | (2,899,945) | ||||||||||||
$ | (0.00) | $ | (0.00) | $ | (0.01) | $ | (0.01) | ||||||||||||
$ | (0.00) | $ | (0.00) | $ | (0.01) | $ | (0.01) | ||||||||||||
345,400,864 | 287,800,057 | 337,812,231 | 262,124,163 | ||||||||||||||||
347,150,864 | 293,537,871 | 342,079,924 | 264,993,070 | ||||||||||||||||
The accompanying notes are an integral part of these unaudited Financial Statements
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Tonogold Resources Inc
Statement of Cash flows
(Unaudited)
3 months ended | 9 months ended | |||||||||||
30-Sep-21 | 30-Sep-20 | 30-Sep-21 | 30-Sep-20 | |||||||||
Cash Flows from Operating Activities | ||||||||||||
Net gain or (loss) | $ | (1,163,660) | $ | (1,144,439) | $ | (3,448,487) | $ | (2,899,945) | ||||
Adjust to reconcile net loss to net cash provided by ops: | $ | - | $ | - | ||||||||
Depreciation | $ | - | $ | - | $ | - | $ | - | ||||
Interest on Convertible Loan Notes | $ | 429,104 | $ | 430,529 | $ | 1,236,342 | $ | 1,002,878 | ||||
Notes issued for services | $ | - | $ | - | $ | - | $ | 122,500 | ||||
Shares Issued for services | ||||||||||||
$ | - | $ | 32,125 | $ | - | $ | 32,125 | |||||
Provisions Changes in operating working capital: | $ | - | $ | - | ||||||||
Increase (decrease) in accounts payable | $ | (600) | $ | (57,933) | $ | - | $ | (139,105) | ||||
Increase (decrease) in share subscription (Note 7k (iv)) | $ | - | $ | 1,360,051 | $ | 700,000 | $ | 1,116,296 | ||||
Increase (decrease) in accrued expenses | $ | 408,454 | $ | (91,264) | $ | 421,088 | $ | (207,181) | ||||
Increase (decrease) in loans from directors | $ | - | $ | - | $ | - | $ | - | ||||
Increase (decrease) payroll taxes | $ | (68,581) | $ | 42 | $ | (75,308) | $ | (77,756) | ||||
Increase (decrease) accrued payroll liabilities | $ | 93,731 | $ | 121,244 | $ | (143,729) | $ | 248,566 | ||||
(Increase) decrease in pre-paid expenses | $ | 695,428 | $ | 940,161 | $ | 934,294 | $ | (367,040) | ||||
Net change in operating working captital | $ | 1,128,432 | $ | 2,272,301 | $ | 1,836,344 | $ | 573,779 | ||||
Net Cash Provided/(Used) in Operations Cash Flows | ||||||||||||
From Investing Activities | $ | 393,877 | $ | 1,590,516 | $ | (375,800) | $ | (1,168,662) | ||||
Investment in Comstock venture | $ | (967,879) | $ | (2,780,306) | $ | (2,880,491) | $ | (4,691,427) | ||||
Investment in property, plant and equipment | $ | - | $ | - | $ | (30,111) | $ | (16,139) | ||||
Net Cash Provided by (Used in) Investments Activities | $ | (967,879) | $ | (2,780,306) | $ | (2,910,602) | $ | (4,707,566) | ||||
Cash Flows from Financing Activities | ||||||||||||
Share Issue - Note 7 | $ | 86,085 | $ | 4,611,255 | $ | 86,085 | $ | 5,023,755 | ||||
Convertible loans - Note 8e (i) | $ | - | $ | 1,328,525 | $ | - | $ | 7,325,941 | ||||
Cost of issues | $ | - | $ | (460,000) | $ | - | $ | (677,500) | ||||
Redemption of preference shares | $ | - | ||||||||||
Net Cash Provided by Financing Activities | $ | 86,085 | $ | 5,479,780 | $ | 86,085 | $ | 11,672,196 | ||||
Net (Decrease) Increase in Cash | $ | (487,917) | $ | 4,289,989 | $ | (3,200,317) | $ | 5,795,968 | ||||
Cash - Beginning of Period | $ | 496,364 | $ | 1,798,072 | $ | 3,208,763 | $ | 292,094 | ||||
Cash - Ending of Period | $ | 8,446 | $ | 6,088,061 | $ | 8,446 | $ | 6,088,061 |
The accompanying notes are an integral part of these unaudited financial statements
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Tonogold Resources Inc. published this content on 15 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 November 2021 18:14:06 UTC.
