YNVISIBLE INTERACTIVE INC. YNVISIBLE INTERACTIVE INC.
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
Three Months Ended March 31, 2022 and 2021
(Expressed in Canadian Dollars - unaudited)
Ynvisible Interactive Inc.
Table of Contents
(Expressed in Canadian Dollars - unaudited)
Page | |
Contents | 2 |
Notice of No Auditor Review of Condensed Interim Consolidated Financial Statements | 3 |
Condensed Interim Consolidated Financial Statements | |
Condensed Interim Consolidated Statements of Financial Position | 4 |
Condensed Interim Consolidated Statements of Comprehensive Loss | 5 |
Condensed Interim Consolidated Statements of Changes in Shareholders' Equity | 6 |
Condensed Interim Consolidated Statements of Cash Flows | 7 |
Notes to Condensed Interim Consolidated Financial Statements | 8 |
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Notice of No Auditor 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 the condensed interim consolidated financial statements have not been reviewed by an auditor.
The accompanying condensed interim consolidated financial statements of the Company have been prepared by and are the responsibility of the Company's management. The Company's external auditors have not performed a review of these condensed interim consolidated financial statements.
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YNVISIBLE INTERACTIVE INC.
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Expressed in Canadian Dollars - unaudited)
As at | ||||
March 31, | December 31, | |||
2022 | 2021 | |||
ASSETS | ||||
Current assets | ||||
Cash and cash equivalents | $ | 15,076,070 | $ | 16,107,403 |
Amounts receivable | 1,011,877 | 1,067,968 | ||
Inventories | 57,280 | 73,522 | ||
Prepaid expenses | 180,000 | 189,860 | ||
Total current assets | 16,325,227 | 17,438,753 | ||
Non-current assets | ||||
Deposits | 6,080 | 5,566 | ||
Right-of-use assets (Note 5) | 281,505 | 371,981 | ||
Fixed assets (Note 6) | 1,836,545 | 1,975,569 | ||
Intangible assets (Note 7) | 359,684 | 387,455 | ||
Total non-current assets | 2,483,814 | 2,740,571 | ||
Total assets | $ | 18,809,041 | $ | 20,179,324 |
LIABILITIES | ||||
Current liabilities | ||||
Accounts payable and accrued liabilities (Note 8) | $ | 1,053,066 | $ | 1,100,268 |
Current portion of lease liabilities (Note 5) | 248,097 | 298,757 | ||
Deferred project grants | 534,139 | 603,639 | ||
Total current liabilities | 1,835,302 | 2,002,664 | ||
Non-current liabilities | ||||
Lease liabilities (Note 5) | 35,548 | 72,608 | ||
Total liabilities | 1,870,850 | 2,075,272 | ||
SHAREHOLDERS' EQUITY | ||||
Share capital (Note 9) | 37,530,455 | 37,530,455 | ||
Reserve (Note 9) | 3,252,990 | 2,886,382 | ||
Obligation to issue shares (Note 9) | 47,809 | 47,809 | ||
Deficit | (23,665,358) | (22,388,865) | ||
Accumulated other comprehensive income | (227,705) | 28,271 | ||
Total shareholders' equity | 16,938,191 | 18,104,052 | ||
Total liabilities and shareholders' equity | $ | 18,809,041 | $ | 20,179,324 |
Note 1 - Corporate Information and Going Concern | ||||
Note 13 - Subsequent Events |
Approved and authorized for issue on behalf of the Board of Directors on May 30, 2022:
"Alexander Helmel" | "Jani-Mikael Kuusisto" | |
Director | Director |
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
4
YNVISIBLE INTERACTIVE INC.
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(Expressed in Canadian Dollars - unaudited)
Three Months Ended March 31, | ||||
2022 | 2021 | |||
Revenue | ||||
Sales | $ | 185,246 | $ | 313,449 |
Cost of sales | (63,014) | (160,064) | ||
Gross profit | 122,232 | 153,385 | ||
Expenses | ||||
Compensation and consulting (Note 8) | 727,036 | 896,310 | ||
Depreciation (Notes 5, 6, and 7) | 159,319 | 184,125 | ||
Development and production | 105,473 | 49,571 | ||
Interest and bank charges | 3,412 | 3,336 | ||
Marketing and promotion | 51,939 | 42,795 | ||
Office facilities and services | 124,849 | 118,907 | ||
Professional fees | 88,006 | 67,311 | ||
Share-based compensation (Notes 8 and 9) | 366,608 | 114,444 | ||
Transfer and listing fees | 6,673 | 53,998 | ||
Travel and project investigation | 30,795 | 5,606 | ||
Total operating expenses | 1,664,110 | 1,536,403 | ||
Loss from operations | (1,541,878) | (1,383,018) | ||
Other items | ||||
Rental income | 63,530 | 66,243 | ||
Income and gains | 36,542 | 26,428 | ||
(Recovery) expenses and losses | (2,830) | 287 | ||
EU co-funded projects grants | 158,921 | 146,360 | ||
Gain on forgiveness of debt | 9,222 | - | ||
Prototype project revenue | - | 26,847 | ||
Total other items | 265,385 | 266,165 | ||
Net loss for the period | (1,276,493) | (1,116,853) | ||
Other comprehensive (loss) income | ||||
Foreign currency translation adjustment | (255,976) | 8,993 | ||
Comprehensive loss for the period | $ | (1,532,469) | $ | (1,107,860) |
Basic and diluted loss per common share | $ | (0.01) | $ | (0.01) |
Weighted average number of common shares outstanding | 124,666,915 | 100,662,007 | ||
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
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Ynvisible Interactive Inc. published this content on 30 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 May 2022 20:09:00 UTC.
