METALERO MINING CORP. CORTUS METALS INC.
Consolidated Condensed Interim Financial Statements
For the six months ended April 30, 2022 and 2021
(Expressed in Canadian Dollars)
To the shareholders of Cortus Metals Inc:
The consolidated condensed interim financial statements of Cortus Metals Inc. (the "Company") for the six months ended April 30, 2022 and 2021 have been compiled by management.
No audit or review of this information has been performed by the Company's auditors.
CORTUS METALS INC.
Consolidated Condensed Interim Statements of Financial Position | |||||||
Expressed in Canadian Dollars | (unaudited) | ||||||
As at | April 30, | October 31, | |||||
2022 | 2021 | ||||||
Assets | |||||||
Current | |||||||
Cash | $ | 51,059 | $ | 72,270 | |||
Prepayments and deposits | 149,473 | 121,289 | |||||
Accounts receivable | - | 10,086 | |||||
Goods and services tax receivable | 13,550 | 11,798 | |||||
214,082 | 215,443 | ||||||
Equipment | 31,489 | 33,206 | |||||
Right-of-use asset (note 9) | 134,725 | 144,920 | |||||
Exploration and evaluation properties (note 4) | 5,130,832 | 4,651,069 | |||||
$ | 5,511,128 | $ | 5,044,638 | ||||
Liabilities | |||||||
Current | |||||||
Accounts payable and accrued liabilities (note 8) | $ | 867,215 | $ | 464,469 | |||
Current portion of lease liability (note 10) | 21,421 | 23,606 | |||||
Loans (notes 8 and 9) | 406,300 | 18,300 | |||||
1,294,936 | 506,375 | ||||||
Long-term | |||||||
Long-term portion of lease liability (note 10) | 115,592 | 123,729 | |||||
1,410,528 | 630,104 | ||||||
Equity | |||||||
Share capital (note 5) | 5,691,777 | 5,706,409 | |||||
Option and warrant reserve | 178,440 | 172,440 | |||||
Deficit | (1,769,617) | (1,461,315) | |||||
4,100,600 | 4,414,534 | ||||||
$ | 5,511,128 | $ | 5,044,638 | ||||
Going Concern (note 1) |
Approved by the Board of Directors
Director (signed by) "John Williamson"
Director (signed by) "Sean Mager"
The accompanying notes form an integral part of these consolidated condensed interim financial statements.
CORTUS METALS INC.
Consolidated Condensed Interim Statements of Loss and Comprehensive Loss | |||||||||
Expressed in Canadian Dollars | (unaudited) | ||||||||
For the | three months ended | six months ended | |||||||
April 30 | April 30 | April 30 | April 30 | ||||||
2022 | 2021 | 2022 | 2021 | ||||||
Expenses | |||||||||
Advertising and promotion | $ | 118,123 | $ | 49,786 | $ | 163,632 | $ | 50,246 | |
Management consulting | 16,500 | 51,000 | 33,000 | 71,500 | |||||
Office and administration | 22,672 | 21,909 | 47,981 | 40,057 | |||||
Professional fees | 13,678 | 10,376 | 39,820 | 26,538 | |||||
Regulatory and filing fees | 9,726 | 10,362 | 19,787 | 17,491 | |||||
Share-based compensation | - | - | 6,000 | 16,695 | |||||
(180,699) | (143,433) | (310,220) | (222,527) | ||||||
Other income | |||||||||
Interest income | 49 | 415 | 99 | 2,955 | |||||
Net loss for the period | $ | (180,650) | $ | (143,018) | $ | (310,121) | $ | (219,572) | |
Other comprehensive loss | |||||||||
Gain (loss) on translation of foreign operations | (2,550) | 2,098 | 1,819 | 2,098 | |||||
Comprehensive loss for the period | $ | (183,200) | $ | (140,920) | $ | (308,302) | $ | (217,474) | |
Basic and diluted loss per common share | $ | (0.00) | $ | (0.00) | $ | (0.01) | $ | (0.01) | |
Basic and diluted weighted average | |||||||||
number of common shares outstanding | 47,545,338 | 27,987,278 | 47,545,338 | 27,877,556 |
The accompanying notes form an integral part of these consolidated condensed interim financial statements.
CORTUS METALS INC.
Consolidated Condensed Interim Statements of Changes in Equity | |||||||||
Expressed in Canadian Dollars | (unaudited) | ||||||||
Share capital | Option and | Deficit | Total | ||||||
warrant | equity | ||||||||
reserve | |||||||||
Balance at October 31, 2020 | $ | 2,932,763 | $ | 137,206 | $ | (713,947) | $ | 2,356,022 | |
Shares issued for property | 33,750 | - | - | 33,750 | |||||
Share-based compensation | - | 16,696 | - | 16,696 | |||||
Net loss | - | - | (217,474) | (217,474) | |||||
Balance at April 30, 2021 | $ | 2,966,513 | $ | 153,902 | $ | (931,421) | $ | 2,188,994 | |
Shares issued for cash | 1,884,391 | (2,655) | - | 1,881,736 | |||||
Shares issued for property | 675,000 | - | - | 675,000 | |||||
Shares issued for debt settlement | 288,700 | - | - | 288,700 | |||||
Share issuance costs | (90,002) | - | - | (90,002) | |||||
Finders warrants issued | (21,193) | 21,193 | - | - | |||||
Net loss | - | - | (529,894) | (529,894) | |||||
Balance at October 31, 2021 | $ | 5,703,409 | $ | 172,440 | $ | (1,461,315) | $ | 4,414,534 | |
Advanced share subscription received | - | - | - | - | |||||
Share issuance costs | (11,632) | - | - | (11,632) | |||||
Share-based compensation | - | 6,000 | - | 6,000 | |||||
Net loss | - | - | (308,302) | (308,302) | |||||
Balance at April 30, 2022 | $ | 5,691,777 | $ | 178,440 | $ | (1,769,617) | $ | 4,100,600 |
The accompanying notes form an integral part of these consolidated condensed interim financial statements.
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Cortus Metals Inc. published this content on 30 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 June 2022 15:52:06 UTC.
