ZEB NICKEL CORP. ZEB NICKEL CORP.
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
FOR THE THREE MONTHS ENDED MARCH 31, 2022
Expressed in Canadian Dollars
(Unaudited - Prepared by Management)
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 interim financial statements, they must be accompanied by a notice indicating that the financial statements have not been reviewed by an auditor.
The accompanying unaudited 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 financial statements in accordance with standards established by the Chartered Professional Accountant of Canada for a review of interim financial statements by an entity auditor.
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ZEB NICKEL CORP.
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION Expressed in Canadian Dollars
(Unaudited - Prepared by Management)
March 31, | December 31, | ||||||
2022 | 2021 | ||||||
ASSETS | |||||||
Current | |||||||
Cash | $ | 1,174,419 | $ | 1,922,185 | |||
Commodity tax receivable | 65,022 | 32,124 | |||||
Prepaid | 41,215 | 82,222 | |||||
1,280,656 | 2,036,531 | ||||||
Exploration and evaluation assets (Notes 4 and 7) | 5,037,962 | 4,736,393 | |||||
$ | 6,318,618 | $ | 6,772,924 | ||||
LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||
LIABILITIES | |||||||
Current | |||||||
Accounts payable and accrued liabilities (Note 7) | $ | 174,255 | $ | 505,001 | |||
174,255 | 505,001 | ||||||
Long-term payable (Note 5) | 660,565 | 623,874 | |||||
834,820 | 1,128,875 | ||||||
Shareholders' Equity | |||||||
Share capital (Note 6) | 7,327,047 | 7,310,586 | |||||
Accumulated the comprehensive income | 31,575 | 53,870 | |||||
Contributed surplus (Note 6) | 473,444 | 301,458 | |||||
Deficit | (2,348,268) | (2,021,865) | |||||
5,483,798 | 5,644,049 | ||||||
$ | 6,318,618 | $ | 6,772,924 | ||||
On behalf of the Board: | |||||||
"Anton J. Drescher" | Director | "Wayne Isaacs" | Director | ||||
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
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ZEB NICKEL CORP.
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS Expressed in Canadian Dollars
(Unaudited - Prepared by Management)
For the three | For the three | |||
months ended | months ended | |||
March 31, 2022 | March 31, 2021 | |||
EXPENSES | ||||
Bank fees | $ | 586 | $ | - |
Consulting fees (Note 7) | 6,000 | - | ||
Filling and regulatory fees | 27,042 | - | ||
Management fees (Note 7) | 15,000 | - | ||
Office | 27,425 | 12,665 | ||
Professional fees (Note 7) | 29,356 | - | ||
Share-based compensation (Notes 6 and 7) | 182,651 | - - | ||
Transfer agent fees | 1,652 | - | ||
Loss before other item | (289,712) | (12,665) | ||
OTHER ITEM | ||||
Accretion of long-term payable (Note 5) | (36,691) | - | ||
NET LOSS FOR THE PERIOD | (326,403) | (12,665) | ||
OTHER COMPREHENSIVE LOSS | ||||
Items that will be reclassified subsequently to profit or loss | ||||
Currency translation differences | (22,295) | - | ||
(22,295) | - | |||
Loss and comprehensive loss for the period | $ | (348,698) | $ | - |
Basic and diluted loss per common share | $ | (0.01) | $ | (0.00) |
Weighted average number of common shares outstanding | 54,884,786 | - |
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
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ZEB NICKEL CORP.
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY Expressed in Canadian Dollars
(Unaudited - Prepared by Management)
Accumulated | |||||||||||
Other | |||||||||||
Number of | Share | Contributed | Comprehensive | ||||||||
shares | Capital | Surplus | Income | Deficit | Total | ||||||
December 31, 2020 | 120 | $ | 3,911,219 | $ | - | $ | 11,812 | $ | (1,018,302) | $ | 2,904,729 |
Loss for the period | - | - | - | - | (12,665) | (12,665) | |||||
March 31, 2021 | 120 | 3,911,219 | - | 11,812 | (1,030,967) | 2,892,064 | |||||
Shares of the Company on RTO | 2,347,828 | 586,957 | - | - | - | 586,957 | |||||
Eliminate shares of Zebediela | (120) | - | - | - | - | - | |||||
Shares issued to shareholders of Zebediela | 41,000,000 | - | - | - | - | - | |||||
Private placement | 11,200,000 | 2,800,000 | - | - | - | 2,800,000 | |||||
RTO finder's fee | 250,000 | 62,500 | - | - | - | 62,500 | |||||
Revaluation of Blue Rhino options and warrants on | |||||||||||
RTO | - | - | 86,000 | - | - | 86,000 | |||||
Exercise of options | 86,958 | 69,200 | (49,000) | - | - | 20,000 | |||||
Share issuance costs | - | (119,290) | - | - | - | (119,290) | |||||
Share-based compensation | - | - | 264,658 | - | - | 264,658 | |||||
Currency translation adjustment | - | - | - | 42,058 | - | 42,058 | |||||
Loss for the period | - | - | - | - | (990,898) | (990,898) | |||||
December 31, 2021 | 54,884,786 | 7,310,586 | 301,458 | 53,870 | (2,021,865) | 5,644,049 | |||||
Exercise of warrants | 25,200 | 16,461 | (10,665) | - | - | 5,796 | |||||
Share-based compensation | - | - | 182,651 | - | - | 182,651 | |||||
Currency translation adjustment | - | - | - | (22,295) | - | (22,295) | |||||
Loss for the period | - | - | - | - | (326,403) | (326,403) | |||||
March 31, 2022 | 54,909,986 | $ | 7,327,047 | $ | 473,444 | $ | 31,575 | $ | (2,348,268) | $ | 5,483,798 |
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
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Zeb Nickel Corp. published this content on 01 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 June 2022 17:51:09 UTC.
