ROKMASTER RESOURCES CORP.
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED JUNE 30, 2023
(Unaudited - Prepared by Management)
(Stated in Canadian Dollars Unless Noted Otherwise)
Rokmaster Resources Corp.
Interim Consolidated Statements of Financial Position
(Unaudited - Prepared by Management)
(Stated in Canadian Dollars Unless Noted Otherwise)
As at | As at | ||||||
ASSETS | June 30, 2023 | December 31, 2022 | |||||
Current assets: | |||||||
Cash | $ | 146,744 | $ | 33,180 | |||
Amounts receivable (Note 5) | 48,162 | 214,467 | |||||
Prepaids and deposits | 4,500 | 161,802 | |||||
199,406 | 409,449 | ||||||
Non-current assets: | |||||||
Reclamation bond (Note 6) | 64,750 | 64,750 | |||||
Mineral interests (Note 7a) | 6,603,891 | 6,103,891 | |||||
Total Assets | $ | 6,868,047 | $ | 6,578,090 | |||
LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||
Current liabilities: | |||||||
Accounts payable and accrued liabilities (Note 10) | $ | 1,322,973 | $ | 1,038,316 | |||
Total Liabilities | 1,322,973 | 1,038,316 | |||||
SHAREHOLDERS' EQUITY | |||||||
Share capital (Note 9) | 22,819,563 | 21,718,497 | |||||
Share-based payments reserve | 13,450,747 | 13,283,373 | |||||
Accumulated deficit | (30,725,236) | (29,462,096) | |||||
Total Shareholders' Equity | 5,545,074 | 5,539,774 | |||||
Total Liabilities and Shareholders' Equity | $ | 6,868,047 | $ | 6,578,090 | |||
Nature of Operations and Going Concern (Note 1) | |||||||
Contingency (Note 13) | |||||||
Events After the Reporting Period (Note 15) | |||||||
ON BEHALF OF THE BOARD: | |||||||
"John Mirko" | , Director | "Michael Cowin" | , Director | ||||
- See Accompanying Notes to the Interim Consolidated Financial Statements - |
2
Rokmaster Resources Corp.
Interim Consolidated Statements of Loss and Comprehensive Loss
(Unaudited - Prepared by Management)
(Stated in Canadian Dollars Unless Noted Otherwise)
For the three | For the three | For the six | For the six | |||||
months ended | months ended | months ended | months ended | |||||
June 30, 2023 | June 30, 2022 | June 30, 2023 | June 30, 2022 | |||||
Expenses | ||||||||
Consulting fees (Note 10) | $ | 117,540 | $ | 138,590 | $ | 237,960 | $ | 260,770 |
Corporate listing and filings fees | 7,328 | 17,557 | 21,553 | 22,914 | ||||
Exploration and evaluation expenditures (Note 7b) | 824,382 | 1,538,644 | 874,933 | 2,416,658 | ||||
Office and general | 11,559 | 14,848 | 30,084 | 27,735 | ||||
Professional fees | 8,084 | 29,261 | 20,170 | 46,097 | ||||
Rent | 8,100 | 8,100 | 16,200 | 16,200 | ||||
Share-based compensation (Notes 9g and 10) | - | 674,717 | - | 674,717 | ||||
Travel, public and shareholder relations and conferences | 46,074 | 61,997 | 130,422 | 101,963 | ||||
Loss From Operations | (1,023,067) | (2,483,714) | (1,331,622) | (3,567,054) | ||||
Other Income | ||||||||
Premium on flow-through shares (Note 9b) | 68,182 | - | 68,182 | - | ||||
Net Loss and Comprehensive Loss for the Period | $ | (954,885) | $ | (2,483,714) | $ | (1,263,140) | $ | (3,567,054) |
Basic Loss per Common Share | $ | (0.01) | $ | (0.02) | $ | (0.01) | $ | (0.03) |
Weighted Average Number of Common Shares Outstanding | 153,040,678 | 129,330,890 | 149,448,916 | 124,968,142 |
- See Accompanying Notes to the Interim Consolidated Financial Statements -
3
Rokmaster Resources Corp.
Interim Consolidated Statements of Cash Flows
(Unaudited - Prepared by Management)
(Stated in Canadian Dollars Unless Noted Otherwise)
For the | For the | |||||
six months ended | six months ended | |||||
June 30, 2023 | June 30, 2022 | |||||
Operating Activities | ||||||
Net loss for the period | $ | (1,263,140) | $ | (3,567,054) | ||
Items not affected by cash: | ||||||
Share-based compensation | - | 674,717 | ||||
Premium on flow-through shares | (68,182) | - | ||||
Changes in non-cash working capital: | ||||||
Amounts receivable | 166,305 | (1,514) | ||||
Prepaids and deposits | 157,302 | 10,839 | ||||
Accounts payable and accrued liabilities | 284,657 | 284 | ||||
Cash used in operating activities | (723,058) | (2,882,728) | ||||
Investing Activities | ||||||
Acquisition of mineral interests | - | (4,000,000) | ||||
Cash used in investing activities | - | (4,000,000) | ||||
Financing Activities | ||||||
Proceeds from share issuance | 900,000 | 4,000,000 | ||||
Share issue costs | (63,378) | (249,968) | ||||
Proceeds from exercise of options | - | 5,000 | ||||
Cash provided by financing activities | 836,622 | 3,755,032 | ||||
Net Increase (Decrease) in Cash | 113,564 | (3,127,696) | ||||
Cash - Beginning of the Period | 33,180 | 4,656,633 | ||||
Cash - End of the Period | $ | 146,744 | $ | 1,528,937 | ||
Supplemental Schedule of Non-Cash Investing and Financing Activities | ||||||
Fair value of warrants in connection with financing | $ | 152,677 | $ | 1,210,315 | ||
Fair value of finder's warrants in connection with financing | $ | 14,697 | $ | 99,552 | ||
Shares issued for mineral interests (Notes 7c and 7d) | $ | 500,000 | $ | 117,391 |
- See Accompanying Notes to the Interim Consolidated Financial Statements -
4
Rokmaster Resources Corp.
Interim Consolidated Statements of Shareholders' Equity
(Unaudited - Prepared by Management)
(Stated in Canadian Dollars Unless Noted Otherwise)
Share Capital | |||||||||
Share-Based | Accumulated | ||||||||
# of Shares | Amount | Payments Reserve | Deficit | Total | |||||
Balance at December 31, 2021 | 112,856,619 | $ | 18,159,747 | $ | 11,143,458 | $ | (23,690,803) | $ | 5,612,402 |
Shares issued for cash | 16,000,000 | 4,000,000 | - | - | 4,000,000 | ||||
Share issue costs | - | (349,520) | 99,552 | - | (249,968) | ||||
Shares issued from exercise of options | 50,000 | 8,986 | (3,986) | - | 5,000 | ||||
Shares issued for mineral properties | 521,739 | 117,391 | - | - | 117,391 | ||||
Fair value of warrants issued from financing | - | (1,210,315) | 1,210,315 | - | - | ||||
Fair value of share-based compensation | - | - | 674,717 | - | 674,717 | ||||
Net loss for the period | - | - | - | (3,567,054) | (3,567,054) | ||||
Balance at June 30, 2022 | 129,428,358 | $ | 20,726,289 | $ | 13,124,056 | $ | (27,257,857) | $ | 6,592,488 |
Balance at December 31, 2022 | 139,695,023 | $ | 21,718,497 | $ | 13,283,373 | $ | (29,462,096) | $ | 5,539,774 |
Shares issued for cash | 8,545,455 | 900,000 | - | - | 900,000 | ||||
Share issue costs | - | (78,075) | 14,697 | - | (63,378) | ||||
Shares issued for mineral properties | 5,000,000 | 500,000 | - | - | 500,000 | ||||
Fair value of warrants issued from financing | - | (152,677) | 152,677 | - | - | ||||
Flow-through premium | - | (68,182) | - | - | (68,182) | ||||
Net loss for the period | - | - | - | (1,263,140) | (1,263,140) | ||||
Balance at June 30, 2023 | 153,240,478 | $ | 22,819,563 | $ | 13,450,747 | $ | (30,725,236) | $ | 5,545,074 |
- See Accompanying Notes to the Interim Consolidated Financial Statements -
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Rokmaster Resources Corp. published this content on 29 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 August 2023 16:24:41 UTC.