GOLD PORT CORPORATION
(Unaudited)
Condensed Interim Consolidated Financial Statements
For the three months ended March 31, 2022
Expressed in Canadian Dollars
NOTICE OF NO AUDITOR REVIEW OF THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
The accompanying unaudited condensed interim consolidated financial statements of Gold Port Corporation. (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 the standards established by the Canadian Institute of Chartered Professional Accountants for a review of the interim financial statements by an entity's auditor.
GOLD PORT CORPORATION
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Expressed in Canadian Dollars)
(Unaudited)
March 31, | December 31, | ||||
Notes | 2022 | 2021 | |||
ASSETS | |||||
Current assets | |||||
Cash | $ | 3,734,601 | $ | 4,300,011 | |
Receivables | 4 | 47,057 | 41,588 | ||
Marketable securities | 5 | 1,132,909 | 1,152,909 | ||
4,914,567 | 5,494,508 | ||||
Deposit on equipment | 6 | 343,863 | 151,740 | ||
Evaluation and exploration assets | 6 | 629,335 | 629,335 | ||
TOTAL ASSETS | $ | 5,887,765 | $ | 6,275,583 | |
LIABILITIES | |||||
Current liabilities | |||||
Accounts payable and accrued liabilities | $ | 214,680 | $ | 205,155 | |
TOTAL LIABILITIES | 214,680 | 205,155 | |||
SHAREHOLDERS' EQUITY | |||||
Share capital | 7 | 7,272,920 | 7,272,920 | ||
Reserves | 7 | 1,598,995 | 1,598,995 | ||
Retained earnings | (3,198,830) | (2,801,487) | |||
TOTAL SHAREHOLDERS' EQUITY | 5,673,085 | 6,070,428 | |||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 5,887,765 | $ | 6,275,583 |
Nature and continuance of operations (Note 1)
Approved and authorized by the Board on June 8, 2022 | |||
"Adrian Hobkirk" | Director | "Christopher Cherry" | Director |
See accompanying notes to the condensed interim consolidated financial statements | 3 |
GOLD PORT CORPORATION
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS)
(Expressed in Canadian Dollars‐unaudited)
For the three months ended March 31 | ||||||
2022 | 2021 | |||||
Expenses | ||||||
Business development | $ | 47,250 | $ | ‐ | ||
Consulting fees | 30,000 | 501,600 | ||||
Director fees | 8 | 9,525 | 9,696 | |||
Exploration costs | 7 | 106,169 | 32,655 | |||
Management fees | 8 | 38,983 | 39,172 | |||
Marketing, advertising and promotion | 58,106 | ‐ | ||||
Office expense | 29,805 | 12,395 | ||||
Professional fees | 8 | 49,230 | 42,115 | |||
Share‐based payments | ‐ | 664,946 | ||||
Transfer agent and filing fees | 8,275 | 8,441 | ||||
(377,343) | (1,311,020) | |||||
Other items | ||||||
Unrealized gain (loss) on Investment | 5 | (20,000) | 873,944 | |||
(20,000) | 873,944 | |||||
Net income (loss) and comprehensive | ||||||
income (loss) for the period | $ | (397,343) | $ | (437,076) | ||
(Loss) Income per share - basic and | ||||||
diluted | $ | (0.01) | $ | 0.01 | ||
Weighted average number of common | 48,631,065 | 48,443,816 | ||||
shares outstanding |
See accompanying notes to the condensed interim consolidated financial statements | 4 |
GOLD PORT CORPORATION
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (DEFICIENCY) (Expressed in Canadian Dollars)
Share capital | |||||||||
Retained | |||||||||
Number of | Reserves | Earnings | |||||||
Notes | shares | Amount | (Deficit) | Total | |||||
Balance at December 31, 2020 | 48,290,613 | $ | 7,218,448 | $ | 934,049 | $ | (198,241) | $ | 7,954,256 |
Comprehensive loss for period | ‐ | ‐ | ‐ | (437,076) | (437,076) | ||||
Shares issued on exercise of warrants | 340,452 | 54,472 | ‐ | ‐ | 54,472 | ||||
Share‐based payments | ‐ | ‐ | 664,946 | ‐ | 664,946 | ||||
Balance at March 31, 2021 | 48,631,065 | $ | 7,272,920 | $ | 1,598,995 | $ | (635,317) | $ | 8,236,598 |
Balance at December 31, 2021 | 48,631,065 | $ | 7,272,920 | $ | 1,598,995 | $ | (2,801,487) | $ | 6,070,428 |
Comprehensive loss for period | (397,343) | (397,343) | |||||||
Balance at March 31, 2022 | 48,631,065 | $ | 7,272,920 | $ | 1,598,995 | $ | (3,198,830) | $ | 5,673,085 |
See accompanying notes to the condensed interim consolidated financial statements | 5 |
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Gold Port Corporation published this content on 09 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 June 2022 01:01:09 UTC.