Azarga Uranium Corp.
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
September 30, 2021
(Unaudited - Expressed in U.S. Dollars)
Notice to Reader
These condensed consolidated interim financial statements of Azarga Uranium Corp. have been prepared by management and approved by the Audit Committee of the Board of Directors of the Company. In accordance with National Instrument 51-102 released by the Canadian Securities Administrators, the Company discloses that its external auditors have not reviewed these condensed consolidated interim financial statements, notes to the financial statements or the related quarterly Management's Discussion and Analysis.
TABLE OF CONTENTS
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS Condensed Consolidated Interim Statements of Financial Position
Condensed Consolidated Interim Statements of Loss and Other Comprehensive Loss Condensed Consolidated Interim Statements of Changes in Equity
Condensed Consolidated Interim Statements of Cash Flows
NOTES1. CorporateTO THEinformationCONDENSEDandCONSOLIDATEDgoing concern INTERIM FINANCIAL STATEMENTS 2. Basis of presentation
3. Summary of significant accounting policies
4. Segmented information
5. Exploration and evaluation assets
6. Loan payable
7. Warrant liabilities
8. Equity
9. Share option reserve
10. Administrative expenses
11. Related party transactions and balances
12. Financial instruments and risk management
13. Commitments
14. Supplemental cash flow information
15. Subsequent events
16. Proposed transaction
Page4 5 6 7
8
9
10
10
11
11
12
12
15
16
17
18
20
21
21
22
AZARGA URANIUM CORP.
Condensed Consolidated Interim Statements of Financial Position
(Unaudited - Expressed in U.S. Dollars)
As at | |||||
September 30, | December 31, | ||||
Notes | 2021 | 2020 | |||
ASSETS | $ | 2,346,949 | $ | 2,400,060 | |
Cash | |||||
urrent assets | 89,516 | 59,499 | |||
Other assets | |||||
Total current assets | 2,436,465 | 2,459,559 | |||
Restricted cash | 720,020 | 952,472 | |||
Non-current assets | 5 | 43,785,180 | 42,621,402 | ||
Exploration and evaluation assets | |||||
Property, plant and equipment | 63,525 | 65,261 | |||
Right-of-use assets | 52,619 | 74,145 | |||
Total assets | $ | 44,621,344 | $ | 43,713,280 | |
Total non-current assets | |||||
LIABILITIES AND EQUITY | $ | 301,668 | $ | 525,904 | |
Trade and other payables | |||||
Current liabilities | 6 | - | 101,284 | ||
Loan payable | |||||
Lease obligations | 15,661 | 15,661 | |||
Total current liabilities | 317,329 | 642,849 | |||
Trade and other payables | 10,000 | 55,000 | |||
Non-current liabilities | 3,277,193 | 3,277,193 | |||
Deferred income tax liabilities | |||||
Decommissioning liabilities | 267,807 | 267,807 | |||
Lease obligations | 7 | 41,614 | 63,548 | ||
Warrant liabilities | 5,660,723 | 1,960,499 | |||
Total liabilities | 9,257,337 | 5,624,047 | |||
Total non-current liabilities | 9,574,666 | 6,266,896 | |||
Common shares | 8 | 70,291,969 | 64,899,866 | ||
Equity | 8 | 854,209 | 1,127,178 | ||
Contributed surplus | |||||
Share option reserve | 9 | 2,877,530 | 3,008,477 | ||
Accumulated deficit | (36,540,565) | (29,129,578) | |||
Total liabilities nd equity | 1 | $ | 37,483,143 | $ | 39,905,943 |
Corporate information and going concern | 47,057,809 | 46,172,839 | |||
Total equity | |||||
Subsequent events | 15 | ||||
Proposed transaction | 16 |
Approved by the Board of Directors of the Company:
"Joseph L. Havlin", Director"Matthew O'Kane", Director
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
Page | 4
AZARGA URANIUM CORP.
Condensed Consolidated Interim Statements of Loss and Other Comprehensive Loss
(Unaudited - Expressed in U.S. Dollars)
Three months ended | Nine months ended | ||||||||
September 30, | September 30, | ||||||||
Notes | 2021 | 2020 | 2021 | 2020 | |||||
Administrative expenses | 10 | $ | (476,094) | $ | (329,273) | $ | (1,443,435) | $ | (1,138,135) |
Foreign exchange (loss) gain | 136,500 | (6,890) | 103,434 | 7,373 | |||||
Finance costs | (339,594) | (336,163) | (1,340,001) | (1,130,762) | |||||
(1,117) | (28,315) | (3,991) | (44,191) | ||||||
Loss from operations | 6 | - | - | 101,532 | - | ||||
Gain on forgiveness of loan | |||||||||
Unrealized (loss) gain on warrant liabilities | 7 | (6,453,505) | (102,645) | (6,168,527) | 40,174 | ||||
Net loss and other comprehensive loss | $ | (6,794,216) | $ | (467,123) | $ | (7,410,987) | $ | (1,134,779) | |
Basic and diluted loss per share | $ | (0.03) | $ | (0.00) | $ | (0.03) | $ | (0.01) | |
Weighted average number of common shares | 238,080,935 | 200,080,285 | 233,906,868 | 193,838,647 | |||||
outstanding
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
Page | 5
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original document
- Permalink
Disclaimer
Azarga Uranium Corp. published this content on 12 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 November 2021 19:46:06 UTC.