Stinger Resources Inc.
Interim Financial Statements
March 31, 2021
(unaudited - prepared by management) (Expressed in Canadian dollars)
NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS
Under National Instrument 51-102, Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of the interim financial statements, they must be accompanied by a notice indicating that the financial statements have not been reviewed by an auditor.
The accompanying unaudited interim financial statements of Stinger Resources Inc. (the "Company") have been prepared by and are the responsibility of the Company's management.
The Company's independent auditor has not performed a review of these financial statements in accordance with standards established by the Canadian Institute of Chartered Accountants for a review of interim financial statements by an entity's auditor.
Stinger Resources Inc.
Interim Statements of Financial Position
As at March 31, 2021 and December 31, 2020
(unaudited - prepared by management) (expressed in Canadian dollars)
2021 | 2020 | |
$ | $ | |
Assets | ||
Current assets | ||
Cash | 2,388,602 | - |
Prepaid expenses and deposits (note 3) | 500 | - |
Receivable (note 4) | 17,246 | 1 |
Marketable securities (note 5) | 4,453,587 | - |
6,859,935 | 1 | |
Property and equipment (note 6) | 514,395 | - |
Exploration and evaluation assets (notes 7 and 14) | 3,419,556 | - |
10,793,886 | 1 | |
Liabilities | ||
Current liabilities | ||
Accounts payable and accrued liabilities (note 8) | 178,083 | - |
Loan payable (note 15) | 53,783 | - |
231,866 | - | |
Shareholders' Equity | ||
Share capital (note 9) | 10,725,128 | 1 |
Reserves (note 9) | 191,109 | - |
Deficit | (354,217) | - |
10,562,020 | 1 | |
10,793,886 | 1 | |
Going concern (note 1) | ||
Commitments (note 14) |
See accompanying notes to these interim financial statements.
Approved by the Board of Directors
"Darren R. Blaney" | Director ____"Robert N. Edwards"____________Director |
Stinger Resources Inc.
Interim Statements of Income and Comprehensive Income (Loss)
For the periods ended March 31,
(unaudited - prepared by management) (expressed in Canadian dollars)
Expenses
Advertising and promotion
Business development and property investigation
Corporate communications
Depreciation on equipment (note 6)
Filing and transfer agent fees
Management fees (note 10)
Office and administration
Professional fees
Stock-based compensation (note 9 and 10)
Net and Comprehensive income (loss)
Basic and diluted loss per common share
Basic and diluted weighted average number of common shares outstanding
2021 | 2020 |
$ | $ |
6,270 | - |
8,400 | - |
185 | - |
13,908 | - |
31,698 | - |
78,750 | - |
12,897 | - |
11,000 | - |
191,109 | - |
(354,217) | - |
(354,217) | - |
(0.02) | (0.00) |
17,012,373 | 1 |
See accompanying notes to these interim financial statements.
Stinger Resources Inc.
Interim Statements of Changes in Equity
For the periods ended March 31,
(unaudited - prepared by management) (expressed in Canadian dollars)
Share capital | Reserves | ||||||
Number of | Share-based | ||||||
Amount | payment | Deficit | Equity | ||||
shares | reserve | ||||||
$ | $ | $ | $ | ||||
Balance as at January 1, 2021 | 1 | 1 | - | - | 1 | ||
Shares issued: | |||||||
Shares issued pursuant to plan of | 45,000,388 | 10,702,073 | - | - | 10,702,073 | ||
arrangement (note 9) | |||||||
Warrant exercise (note 9) | 235,903 | 23,054 | - | - | 23,054 | ||
Valuation of options granted (note 9) | - | - | 191,109 | - | 191,109 |
Net and comprehensive income Balance as at March 31, 2021 Balance as at January 1, 2020
Shares issued:
Net and comprehensive loss Balance as at March 31, 2020
- | - | - | (354,217) | (354,217) |
45,236,292 | 10,725,128 | 191,109 | (354,217) | 10,562,020 |
- | - | - | - | - |
- | - | - | - | - |
- | - | - | - | - |
- | - | - | - | - |
See accompanying notes to these interim financial statements.
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Stinger Resources Inc. published this content on 21 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 March 2022 21:19:40 UTC.