Rogue Resources Inc.
Consolidated Interim Financial Statements
Quarter Ended January 31, 2022 and 2021
(Expressed in Canadian Dollars)
NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS
The accompanying unaudited consolidated interim financial statements of Rogue Resources Inc. ("the Company") for the quarter ended January 31, 2022, have been prepared by 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 Professional Chartered Accountants for a review of interim financial statements by an entity's auditor.
Rogue Resources Inc.
Consolidated Financial Statements Quarter ended January 31, 2022 and 2021 (Unaudited - expressed in Canadian Dollars)
Table of Contents | Page |
Consolidated Statements of Financial Position | 4 |
Consolidated Statements of Operations and Comprehensive Income (Loss) | 5 |
Consolidated Statements of Changes in Equity | 6 |
Consolidated Statements of Cash Flows | 7 |
Notes to the Consolidated Financial Statements | 8 - 32 |
Rogue Resources Inc.
Consolidated Statements of Financial Position Quarter Ended January 31, 2022 and 2021 (Unaudited - expressed in Canadian dollars)
As at January 31, 2022 As at April 30, 2021 | ||
ASSETS | 7 11 | |
Current assets | ||
Cash | $45,844 $128,401 | |
Marketable securities | 5,759 5,222 | |
Accounts receivable | 96,706 167,291 | |
Prepaid expenses | 10,206 4,845 | |
Tax recoverable | - 25,557 | |
Inventory | 185,576 101,581 | |
Total Current Assets | 8, 12 8 9 10 6, 10 | 344,091 432,897 |
Non-current assets | ||
Investment in associates | 1,813,354 1,882,386 | |
Exploration and evaluation assets | 5,179,600 10,796,408 | |
Right-of-use assets | 1,030,443 1,202,614 | |
Property, plant and equipment | 139,122 37,795 | |
Producing assets | 3,125,945 2,756,214 | |
Total Assets | $11,632,555 $17,108,314 | |
LIABILITIES | 9 19 15 | |
Current Liabilities | ||
Accounts payable and accrued liabilities | $978,277 $284,604 | |
Current portion of lease liability | 295,706 323,706 | |
Due to related parties | 306,344 647,956 | |
Government assistance loan | 60,000 - | |
Loan payable | 1,787,108 1,773,522 | |
Total Current Liabilities | 14 9 16 | 3,427,434 3,029,788 |
Non-current liabilities | ||
Vendor mortgages | 700,000 700,000 | |
Lease liability | 538,162 748,319 | |
Government assistance loan | - 60,000 | |
Total Liabilities | 4,465,596 4,538,107 | |
EQUITY | 17 17 7 18 | |
Share capital | 50,372,364 50,372,364 | |
Reserves | 10,686,123 10,666,052 | |
Accumulated other comprehensive income | (2,612) 4,298 | |
Non-controlling interest | 194,736 202,213 | |
Deficit | (54,283,653) (48,674,719) | |
Total Equity | 6,966,959 12,570,207 | |
Total Liabilities & Equity | $11,632,555 $17,108,314 |
As at
5,222
167,291
4,845
25,557
101,581
432,897
1,882,386
10,796,408
1,202,614
37,795
2,756,214
323,706 647,956 1,773,522 3,029,788
700,000 748,319 60,000 4,538,107 50,372,364 10,666,052 4,298 202,213 12,570,207
These consolidated financial statements were approved and authorized for issue by the Board of
Directors on March 31, 2022. They are signed on the Company's behalf by:
(Signed) "Sean Samson"
(Signed) "Christopher Berlet"
Director
Director
The accompanying notes are an integral part of these consolidated financial statements.
Rogue Resources Inc.
Consolidated Statements of Operations and Comprehensive Loss Quarter Ended January 31, 2022 and 2021
(Unaudited - expressed in Canadian dollars)
Three months ended January 31, | Three months ended January 31, Note 2022 2021 Nine months ended January 31, 2022 2021 | ||
Revenue Less: | 1 $331,548 $ 485,355 $ 1,345,606 $ 921,809 9,10 (202,236) (38,924) (255,136) (65,106) (693,598) (484,689) (148,755) (185,148) | ||
Cost of goods sold Depreciation and depletion | |||
Gross Profit | 90,388 | 165,113 | 503,253 251,972 |
Expenses: | 19 19 15 9,15 ng 88,396 - 81,729 257,930 143,178 1,063 - 5,000 - - 5,000 9,375 - 9,201 3,067 27,603 61,696 12,188 201,412 110,928 396 800 3,570 4,733 16,795 11,340 47,334 33,202 19 17,19 44,854 29,821 114,347 65,261 6,368 5,848 13,372 15,082 1,488 14,602 19,615 78,720 | ||
Compensation and benefits Consulting fees Consulting fees - related parties Financing fees Interest and accretion expense Investor relations, promotion and product marketi Office expense and miscellaneous Professional fees Regulatory and stock transfer fees Stock based compensation | |||
Total Expenses Before Items Below | 221,056 | 170,529 | 670,022 483,707 |
Profit Before Other Income and Income Taxe Gain on Property Gain/(Loss) from Investment in Associates |
8
Write-off of Exploration and EvaluationAssets
(5,659,993)
-
(5,659,993)
-
Deferred Income Tax Recovery | 315 |
(5,101)
Net Loss For The Period
Other Comprehensive Income/(Loss)
Unrealized & realized gain/(loss) on marketable securities
(5,728,255)
(5,616,410)
(224,182)
7
Comprehensive Income/(Loss) For The Period
(6,609)
$
(5,734,864) $
416
(4,685) $
(6,910)
(5,623,320) $
1,952(222,230)
Attributable to:
Non-controlling interest
Equity shareholders of the Company
18
(11,748) (5,723,116)
(2,846)
4,297 (2,846)
(1,839) (5,627,617) (219,384)
(5,734,864)
(4,685)
(5,623,320) (222,230)Basic and Diluted Loss Per Share
17
$
(0.16) $
(0.00) $
(0.16) $
(0.01)
Weighted Average Number of Shares Outstanding
Basic and diluted
17
35,148,299
35,148,299
35,148,299
The accompanying notes are an integral part of these consolidated financial statements.
31,928,242
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Rogue Resources Inc. published this content on 01 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 April 2022 14:23:02 UTC.