El Nino Ventures : First Quarter Report

TSX.V: ELN OTC Pink: ELNOF FRANKFURT: E7QN

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INTERIM FINANCIAL STATEMENTS

Quarter 1

30 April 2021

(An Exploration Stage Company)

(Expressed in Canadian dollars)

MANAGEMENT'S COMMENTS ON

UNAUDITED INTERIM FINANCIAL STATEMENTS

NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS

The accompanying unaudited condensed interim financial statements of El Niño Ventures Inc. (the "Company") have been prepared by and are the responsibility of the Company's management. The unaudited interim financial statements are prepared in accordance with International Financial Reporting Standards and reflect management's best estimates and judgment based on information currently available.

The Company's independent auditor has not performed a review of these interim financial statements in accordance with standards established by the Canadian Institute of Chartered Accountants for a review of condensed interim financial staements by an entity's auditor.

El Nino Ventures Inc.

(An Exploration Stage Company)

Interim Statements of Financial Position

(Expressed in Canadian dollars)

						As at 30	As at 31
					Notes	April 2021	January 2021
							(Audited)
	ASSETS			$	$
	Current assets
	Cash			556,649	641,295
	Amounts receivable		4	3,217	3,891
	Short term investments		5	224,324	178,245
						784,190	823,431
	Equipment		7	16,686	18,173
	Total assets			800,876	841,604
	EQUITY AND LIABILITIES
	Current liabilities
	Trade payables and accrued liabilities	8	13,605	14,422
	Due to related parties		14	-	23,557
	Total liabilities			13,605	37,979
	Equity
	Common shares		9	25,557,671	25,557,671
	Reserves		9	8,542,566	8,542,566
	Deficit			(33,312,966)	(33,296,612)
	Total equity			787,271	803,625
	Total equity and liabilities			800,876	841,604
Corporate Information (Note 1), Going Concern (Note 1.1), Commitments and Contingencies (Note 16)
	APPROVED BY THE BOARD:
	"Harry Barr"			"Gordon Chunnett"
	Director	Director

The accompanying notes are an integral part of these financial statements.

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El Nino Ventures Inc.

(An Exploration Stage Company)

Interim Statements of Loss and Comprehensive Loss For the three months ended 30 April 2021 and 2020

(Expressed in Canadian dollars)

			Three months ended
	Notes		30 April 2021		30 April 2020
			$		$
Administration expenses
Bank charges and interest			31		28
Consulting fees	14		26,434		44,860
Depreciation	8		1,487		1,487
Information technology			120		120
Legal			-		-
Management fees			30,000		30,000
Marketing and communications			-		1,143
Office and miscellaneous	14		4,191		10,691
Rent			2,297		5,440
Telephone and utilities			1,021		2,141
Transfer agent and regulatory fees			8,824		6,196
Travel, lodging and food			2,864		4,690
Net loss before other items			(77,269)		(106,796)
Other items
Interest income			14,835		1,480
Unrealized loss on short-term investments	6		46,080		(89,200)
Net loss and comprehensive for the period			(16,354)		(194,516)
Net income per share - basic and diluted	11		(0.001)		(0.003)

The accompanying notes are an integral part of these financial statements.

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El Nino Ventures Inc.

Interim Statements of Cash Flows

For the three months ended 30 April 2021 and 2020

(Expressed in Canadian dollars)

		Three months ended
	Notes	30 April 2021	30 April 2020
		$	$
OPERATING ACTIVITIES
Income (loss) for the period		(16,354)	(194,516)
Adjustments for:
Depreciation		1,487	1,487
Impairment of exploration and evaluation properites		-	-
Unrealized loss on short-term investments		(46,080)	89,198
Changes in operating working capital
Decrease (increase) in amounts receivable		674	3,183
Increase (decrease) in trade payables and accrued liabilities		(816)	(1,428)
Increase in due to related parties		(23,557)	12,395
Cash used in operating activities		(84,646)	(89,681)
INVESTING ACTIVITIES
Exploration and evaluation option payments received		-	-
Cash from investing activities		-	-
Decrease in cash and cash equivalents		(84,646)	(89,681)
Cash and cash equivalents, beginning of period		641,295	931,481
Cash and cash equivalents, end of period		556,649	841,800

Supplemental cash flow information (Note 15)

The accompanying notes are an integral part of these financial statements.

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