PLATO GOLD CORP. Condensed Interim Consolidated Financial Statements
Plato Gold Corp.
For the Six Months Ended June 30, 2023 and 2022
(Stated in Canadian Dollars)
INDEX | |
Condensed Interim Consolidated Statements of Financial Position | 1 |
Condensed Interim Consolidated Statements of Loss and Comprehensive Loss | 2 |
Condensed Interim Consolidated Statements of Changes in Shareholders' Equity | 3 |
Condensed Interim Consolidated Statements of Cash Flow | 4 |
Notes to the Condensed Interim Consolidated Financial Statements | 5 - 23 |
NOTICE TO READER
The accompanying unaudited condensed interim consolidated financial statements have been prepared by the Company's management and the Company's independent auditors have not performed a review of these interim financial statements.
Plato Gold Corp.
Condensed Interim Consolidated Statements of Financial Position
Unaudited - See Notice to Reader
Stated in Canadian dollars
June 30, | December 31, | ||||
2023 | 2022 | ||||
(Audited) | |||||
Assets | |||||
Current Assets | |||||
Cash | $ | 11,896 | $ | 78,774 | |
Prepaid expenses | 8,257 | 18,026 | |||
Other receivables (note 4) | 8,772 | 9,993 | |||
28,925 | 106,793 | ||||
Portfolio Investments (note 5) | 67,220 | 75,540 | |||
Mineral Properties and Deferred | |||||
Exploration Costs (note 6) | 2,333,028 | 2,289,233 | |||
Liabilities | $ | 2,429,173 | $ | 2,471,566 | |
Current Liabilities | |||||
Accounts payable and accrued liabilities (note 12) | $ | 743,950 | $ | 723,799 | |
Due to related company (note 7) | 92,089 | 57,089 | |||
Loan payable (note 8) | 36,040 | 32,080 | |||
Flow-through share premium liability (notes 9, 13) | 30,148 | 32,371 | |||
902,227 | 845,339 | ||||
Shareholders' Equity | |||||
Share capital (note 9) | 10,028,348 | 10,019,348 | |||
Warrants (note 10) | 91,425 | 133,179 | |||
Contributed surplus | 3,831,011 | 3,789,257 | |||
Deficit | (12,416,643) | (12,308,629) | |||
Non-controlling interest | (7,195) | (6,928) | |||
1,526,946 | 1,626,227 | ||||
Going Concern (note 2e) | $ | 2,429,173 | $ | 2,471,566 | |
The accompanying notes form an integral part of these condensed interim consolidated financial statements.
Approved on behalf of the Board
"Anthony J. Cohen" | , Director | "John H. Paterson" | , Director |
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Plato Gold Corp.
Condensed Interim Consolidated Statements of Loss and Comprehensive Loss
For the Three and Six Months ended June 30
Unaudited - See Notice to Reader
Stated in Canadian dollars
Six months ended | Three months ended | ||||||||
2023 | 2022 | 2023 | 2022 | ||||||
Income | |||||||||
Investment income | $ | 1,024 | $ | 1,205 | $ | 504 | $ | 487 | |
Expenses | |||||||||
Bad debt expense (recovery) | (333) | 547 | (410) | 349 | |||||
Consulting and director fees | 400 | 500 | 200 | 250 | |||||
Foreign exchange loss | 203 | 245 | 203 | - | |||||
Insurance | 5,126 | 4,911 | 3,082 | 3,066 | |||||
Interest accretion (note 8) | 3,960 | 3,208 | 1,980 | 1,604 | |||||
Interest and financing fees | 447 | 642 | 314 | 383 | |||||
Office and general | 1,781 | 3,687 | 955 | 2,130 | |||||
Professional fees | 49,505 | 63,454 | 31,659 | 33,454 | |||||
Publicity and advertising | 240 | 3,674 | - | 799 | |||||
Rent | 1,200 | 1,200 | 600 | 600 | |||||
Salaries and benefits | 50 | 50 | - | 50 | |||||
Transfer and filing fees | 29,322 | 33,319 | 13,240 | 21,923 | |||||
91,901 | 115,437 | 51,823 | 64,608 | ||||||
Other Expenses (Income) | |||||||||
Write-down of mineral properties (note 6) | 14,449 | 69,816 | 4,446 | 41,876 | |||||
Fair value adjustment on portfolio | |||||||||
investments | 8,945 | 58,522 | 8,495 | 20,895 | |||||
Gain on revaluation of loan payable (note 8) | - | (6,415) | - | - | |||||
Realized gain on disposition of portfolio | |||||||||
investments (note 5) | (3,767) | (47,069) | (3,767) | - | |||||
Flow through share premium | |||||||||
amortization (note 13) | (2,223) | (11,929) | (1,167) | (5,298) | |||||
17,404 | 62,925 | 8,007 | 57,473 | ||||||
Net Loss and Comprehensive Loss | $ | (108,281) | $ | (177,157) | $ | (59,376) | $ | (121,594) | |
Attributable to: |
Equity holders of Plato Gold Corp.
Non-controlling interest
Loss per Share - basic and diluted
Weighted Average Number of Common Shares Outstanding - basic and diluted
(108,014) | (177,054) | (59,296) | (121,538) | ||||
(267) | (103) | (80) | (56) | ||||
$ | (0.00) | $ | (0.00) | $ | (0.00) | $ | (0.00) |
228,349,142 219,749,142 228,365,717 219,765,717
The accompanying notes form an integral part of these condensed interim consolidated financial statements.
-2-
Plato Gold Corp.
Condensed Interim Consolidated Statements of Changes in Shareholders' Equity
For the Six Months Ended June 30
Unaudited - See Notice to Reader
Stated in Canadian dollars
Share Capital | Non- | ||||||||||||
Contributed | Accumulated | Controlling | |||||||||||
Balance - January 1, 2022 | Shares | Amount | Warrants | Surplus | Deficit | Interest | Total | ||||||
219,465,717 | $ | 9,741,628 | $ | 69,599 | $ | 3,789,257 | $ | (12,069,977) | $ | (6,321) | $ | 1,524,186 | |
Shares issued for mineral | |||||||||||||
properties (notes 6(b), 9) | 300,000 | 7,500 | - | - | - | - | 7,500 | ||||||
Net loss and comprehensive loss | - | - | - | - | (177,054) | (103) | (177,157) | ||||||
Balance - June 30, 2022 | 219,765,717 | $ | 9,749,128 | $ | 69,599 | $ | 3,789,257 | $ | (12,247,031) | $ | (6,424) | $ | 1,354,529 |
Share Capital | Non- | ||||||||||||
Contributed | Accumulated | Controlling | |||||||||||
Balance - January 1, 2023 | Shares | Amount | Warrants | Surplus | Deficit | Interest | Total | ||||||
228,065,717 | $ | 10,019,348 | $ | 133,179 | $ | 3,789,257 | $ | (12,308,629) | $ | (6,928) | $ | 1,626,227 | |
Shares issued for mineral | |||||||||||||
properties (notes 6(b), 9) | 300,000 | 9,000 | - | - | - | - | 9,000 | ||||||
Expiry of warrants (note 10) | - | - | (41,754) | 41,754 | - | - | - | ||||||
Net loss and comprehensive loss | - | - | - | - | (108,014) | (267) | (108,281) | ||||||
Balance - June 30, 2023 | 228,365,717 | $ | 10,028,348 | $ | 91,425 | $ | 3,831,011 | $ | (12,416,643) | $ | (7,195) | $ | 1,526,946 |
The accompanying notes form an integral part of these condensed interim consolidated financial statements.
-3-
Plato Gold Corp.
Condensed Interim Consolidated Statements of Cash Flow
For the Six Months Ended June 30
Unaudited - See Notice to Reader
Stated in Canadian dollars
2023 | 2022 | |
Cash Flows from Operating Activities | ||
Net loss and comprehensive loss | $ (108,281) | $ (177,157) |
Items not involving cash |
Realized gain on disposition of portfolio investments Interest accretion
Gain on revaluation of loan payable Write-down of mineral properties Bad debt expense (recovery)
Fair value adjustment on portfolio investments Flow-through share premium amortization
Changes in non-cash working capital
Other receivables
Prepaid expenses
Accounts payable and accrued liabilities
Cash Flows from Financing Activities
Proceeds from issuance of flow-through shares Due to related company
(3,767) | (47,069) |
3,960 | 3,208 |
- | (6,415) |
14,449 | 69,816 |
(333) | 547 |
8,945 | 58,522 |
(2,223) | (11,929) |
(87,250) | (110,477) |
1,554 | (7,819) |
9,769 | 9,103 |
20,151 | 72,990 |
(55,776) | (36,203) |
- | 250,000 |
35,000 | 50,544 |
35,000 | 300,544 |
Cash Flows from Investing Activities
Mineral properties and deferred explorations costs | (49,244) | (109,173) | |
Proceeds from disposition of portfolio investments | 3,142 | 35 | |
(46,102) | (109,138) | ||
Change in cash | (66,878) | 155,203 | |
Cash - beginning of period | 78,774 | 112,731 | |
Cash - end of period | $ | 11,896 | $ 267,934 |
The accompanying notes form an integral part of these condensed interim consolidated financial statements.
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Plato Gold Corp. published this content on 17 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 August 2023 06:07:04 UTC.
