EUROPACIFIC METALS INC. Goldplay Mining Inc.
Condensed Interim Consolidated Financial Statements
For the three and six months ended June 30, 2022 and 2021
(Expressed in Canadian dollars)
Notice of No Auditor Review
These unaudited condensed interim financial statements have not been reviewed by the auditors of the Corporation. This notice is being provided in accordance with Section 4.3 (3)
(a) of National Instrument 51-102 - Continuous Disclosure Obligations.
MANAGEMENT'S RESPONSIBILITY FOR FINANCIAL STATEMENTS
The accompanying condensed interim financial statements of Goldplay Mining Inc. are the responsibility of the Company's management and are prepared in accordance with International Financial Reporting Standards and reflect management's best estimates and judgment based on information currently available.
Management has developed and maintains a system of internal controls to ensure that the Company's assets are safeguarded, transactions are authorized and properly recorded, and financial information is reliable.
The Board of Directors is responsible for ensuring management fulfills its responsibilities for financial reporting and internal controls through an audit committee, which is comprised primarily of non-management directors. The Audit Committee reviews the financial statements prior to their submission to the Board of Directors for approval.
"Chris Osterman" | "Mihai Draguleasa" |
Chris Osterman | Mihai Draguleasa |
Chief Executive Officer | Chief Financial Officer |
Vancouver, British Columbia | |
August 20, 2022 |
Goldplay Mining Inc.
Condensed Interim Consolidated Statement of Financial Position
(Unaudited - expressed in Canadian Dollars)
June 30 | December 31 | |||
2022 | 2021 | |||
ASSETS | ||||
Current assets | ||||
Cash | $ | 2,033,838 | $ | 2,637,587 |
Accounts receivable | 61,629 | 46,183 | ||
Advances and prepaid expense | 80,699 | 118,472 | ||
Total current assets | 2,176,166 | 2,802,242 | ||
Long term deposits | 85,602 | 64,760 | ||
Investment in and due from associates (Note 8) | 506,181 | 339,699 | ||
Exploration and evaluation assets (Note 6) | 258,733 | 236,730 | ||
$ | 3,026,682 | $ | 3,443,431 | |
LIABILITIES | ||||
Current liabilities | ||||
Accounts payable and accrued liabilities | $ | 114,994 | 148,714 | |
Flow-through shares premium liability (Note 7) | 192,587 | 199,884 | ||
307,581 | 348,598 | |||
SHAREHOLDERS' EQUITY | ||||
Share capital (Note 4) | 4,801,660 | 4,651,660 | ||
Contributed surplus | 464,068 | 378,281 | ||
Deficit | (2,509,553) | (1,916,487) | ||
Non Controlling Interest | (37,074) | (18,621) | ||
2,719,101 | 3,094,833 | |||
$ | 3,026,682 | $ | 3,443,431 |
Nature of operations and going concern (Note 1)
Subsequent events (Note 9)
These financial statements were approved for issue by the Board of Directors on August 20, 2022 and are signed on its behalf by:
"Catalin Kilofliski" | , Director | "Andrew Marshall" | , Director |
The accompanying notes are an integral part of these condensed interim financial statements.
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Goldplay Mining Inc.
Condensed Interim Consolidated Statement of Loss and Comprehensive Loss
(Unaudited - expressed in Canadian Dollars)
For the six | For the six | For the three | For the three | |||||
months | months | months | months | |||||
ended | ended | ended | ended | |||||
June 30, 2022 | June 30, 2021 | June 30, 2022 | June 30, 2021 | |||||
EXPENSES | ||||||||
Accounting and corporate secretarial fees (Note 5) | $ | 33,000 | $ | 30,000 | $ | 16,500 | $ | 15,000 |
Audit and tax fees | 14,825 | 11,309 | 7,825 | 4,163 | ||||
Consulting and due diligence | 82,500 | 54,859 | 62,500 | 23,655 | ||||
Legal fees | 10,451 | 96,289 | 10,451 | 37,002 | ||||
Management (note 5) | 53,334 | 75,000 | 27,582 | 37,500 | ||||
Marketing | 75,501 | 92,420 | 41,504 | 87,587 | ||||
Share based compensation (Note 4, 5) | 85,788 | 196,944 | - | 102,929 | ||||
Shareholder communications and investor relations | 36,590 | 25,049 | 19,515 | 14,812 | ||||
Office and administration expenses | 42,255 | 13,676 | 11,949 | 6,482 | ||||
Exploration and evaluation (Note 6) | 126,962 | 15,281 | 90,393 | 14,861 | ||||
Regulatory, exchange listing and transfer agent fees | 26,701 | 82,258 | 11,480 | 70,153 | ||||
TOTAL EXPENSES | 587,907 | 693,085 | 299,699 | 414,144 | ||||
OTHER ITEMS | ||||||||
Recovery of flow-through liability (Note 7) | (7,297) | - | (5,480) | - | ||||
Management fee income (Note 8) | (4,059) | - | (1,296) | - | ||||
Interest income | (6,004) | (768) | (4,181) | (768) | ||||
Share of associates loss (Note 8) | 40,972 | - | 12,747 | - | ||||
TOTAL OTHER ITEMS | 23,612 | (768) | 1,790 | (768) | ||||
Net and comprehensive loss for the period | $ | 611,519 | $ | 692,317 | $ | 301,489 | $ | 413,376 |
Loss is attributable to: | ||||||||
Owners of Goldplay | $ | 593,066 | $ | 692,317 | $ | 289,768 | $ | 413,376 |
Non Controlling Interest | 18,453 | - | 11,721 | - | ||||
Basic and diluted loss per share attributable to owners of | ||||||||
Goldplay | $ | 0.01 | $ | 0.02 | $ | 0.01 | $ | 0.01 |
Weighted average number of shares outstanding | 51,411,607 | 32,441,424 | 51,856,052 | 39,522,252 |
The accompanying notes are an integral part of these condensed interim financial statements.
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Goldplay Mining Inc.
Condensed Interim Consolidated Statement of Changes in Equity
(Unaudited - expressed in Canadian Dollars)
Number of | Contributed | Non | Shareholders' | |||||||||
Share Capital | Deficit | Controlling | ||||||||||
Shares | Surplus | Interest | Equity | |||||||||
Balance at December 31, 2020 | 21,806,813 | $ | 1,255,844 | $ | - | $ | (572,099) | $ | - | $ | 683,745 | |
Private placements shares component (Note 4) | 19,063,279 | 2,881,725 | - | - | - | 2,881,725 | ||||||
Warrant exercises (Note 4) | 9,407,920 | 940,792 | - | - | - | 940,792 | ||||||
Share issuance costs (Note 4) | - | (144,068) | - | - | - | (144,068) | ||||||
Share issuance cost - broker warrants (Note 4) | - | (145,068) | 145,068 | - | - | - | ||||||
Shares issued for mineral properties (Notes 4, 6) | 589,151 | 83,050 | - | - | - | 83,050 | ||||||
Shares issued for investments (Note 4, 6) | 100,000 | 17,500 | - | - | - | 17,500 | ||||||
Share based compensation (Notes 4, 5) | - | - | 233,213 | - | - | 233,213 | ||||||
Flow-through share premium liabilities (Note 4, 7) | - | (238,115) | - | - | - | (238,115) | ||||||
Net and comprehensive loss for the year | - | - | - | (1,344,388) | - | (1,344,388) | ||||||
Non controlling interest | - | - | - | - | (18,621) | (18,621) | ||||||
- | ||||||||||||
Balance at December 31, 2021 | 50,967,163 | $ | 4,651,660 | $ | 378,281 | $ | (1,916,487) | $ | $ | (18,621) | $ | 3,094,833 |
Private placements (Note 4) | 1,000,000 | 150,000 | - | - | - | 150,000 | ||||||
Share based compensation (Note 4, 5) | - | - | 85,788 | - | - | 85,788 | ||||||
Net and comprehensive loss for the year | - | - | - | (593,066) | - | (593,066) | ||||||
Non controlling interest | - | - | - | - | (18,453) | (18,453) | ||||||
Balance at June 30, 2022 | 51,967,163 | $ | 4,801,660 | $ | 464,068 | $ | (2,509,553) | $ | $ | (37,074) | $ | 2,719,101 |
The accompanying notes are an integral part of these condensed interim financial statements.
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Goldplay Mining Inc. published this content on 22 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 August 2022 13:55:06 UTC.
