THESIS GOLD (HOLDINGS) INC. `
THESIS GOLD INC.
Condensed Interim Financial Statements
For the three and six months ended June 30, 2022 and 2021
(Expressed in Canadian Dollars)
To the shareholders of Thesis Gold Inc:
The condensed interim financial statements of Thesis Gold Inc. (the "Company") for the three and six months ended June 30, 2022 and 2021 have been compiled by management.
No audit or review of this information has been performed by the Company's auditors.
THESIS GOLD INC.
Condensed Interim Statements of Financial Position | |||||
(Expressed in Canadian Dollars) | (unaudited) | ||||
As at | June 30 | December 31 | |||
Assets | 2022 | 2021 | |||
Current | $ | 29,080,289 | |||
Cash | $ | 13,201,890 | |||
Goods and services tax receivable | 182,126 | 490,509 | |||
Prepaids and deposits | 507,401 | 219,062 | |||
29,769,816 | 13,911,461 | ||||
Reclamation bond | 310,000 | 240,000 | |||
Exploration and evaluation properties (note 3) | 22,296,919 | 15,716,466 | |||
Liabilities | $ | 52,376,735 | $ | 29,867,927 | |
Current | $ | 594,909 | |||
Accounts payable and accrued liabilities | $ | 1,011,893 | |||
Asset retirement obligation liability | 310,000 | 240,000 | |||
Deferred flow-through liability | 357,780 | - | |||
1,262,689 | 1,251,893 | ||||
Equity | |||||
Share capital (note 4) | 53,363,319 | 29,686,115 | |||
Option and warrant reserve | 6,132,717 | 3,413,361 | |||
Deficit | (8,381,990) | (4,483,442) | |||
51,114,046 | 28,616,034 | ||||
$ | 52,376,735 | $ | 29,867,927 | ||
Approved by the Board of Directors |
Director (signed by) "Ewan Webster"
Director (signed by) "Nick Stajduhar"
The accompanying notes form an integral part of these condensed interim financial statements.
THESIS GOLD INC.
Condensed Interim Statements of Loss and Comprehensive Loss | |||||||||
(Expressed in Canadian Dollars) | (unaudited) | ||||||||
For the | three months ended June 30 | six months ended June 30 | |||||||
2022 | 2021 | 2022 | 2021 | ||||||
Expenses | |||||||||
Advertising and promotion | $ | 321,313 | $ | 92,629 | $ | 540,526 | $ | 146,292 | |
General and administrative | 41,169 | 18,441 | 62,297 | 32,087 | |||||
Management fees | 61,000 | 52,000 | 121,333 | 104,000 | |||||
Professional fees | 16,250 | 45,509 | 39,373 | 58,673 | |||||
Regulatory and filing fees | 47,435 | 7,530 | 104,403 | 27,020 | |||||
487,167 | (216,109) | 867,932 | (368,072) | ||||||
Other | - | - | |||||||
Dissolution of subsidiary | - | 315,094 | |||||||
Interest income | 114,097 | 7,659 | 153,392 | 17,358 | |||||
Settlement of flow-through liability | 114,075 | - | 160,742 | - | |||||
Share-based compensation (note 4, 5) | - | (1,103,000) | (3,344,750) | (1,386,500) | |||||
Net loss and comprehensive loss for the period $ | (258,995) | $ | (1,311,450) | $ | (3,898,548) | $ | (1,422,120) | ||
Basic and diluted income (loss) per common share | |||||||||
$ | (0.00) | $ | (0.04) | $ | (0.07) | $ | (0.04) | ||
Basic and diluted weighted average | 56,750,838 | 53,796,144 | |||||||
number of common shares outstanding | 32,785,352 | 32,458,813 | |||||||
The accompanying notes form an integral part of these condensed interim financial statements.
THESIS GOLD INC.
Condensed Interim Statements of Changes in Equity | |||||||||||
(Expressed in Canadian Dollars) | (unaudited) | ||||||||||
Share capital | Option and | Surplus | AOCI | Deficit | Total | ||||||
warrant | reserve | equity/ | |||||||||
reserve | (deficit) | ||||||||||
Balance at December 31, 2020 | $12,427,995 | $ | 804,560 | $ | 168,502 | $ | 124,192 | $ (1,470,970) | $12,054,279 | ||
Dissolution of subsidiary | (798) | - | (168,502) | (124,192) | (21,598) | (315,090) | |||||
Shares issued for cash | 18,400,000 | - | - | - | - | 18,400,000 | |||||
Share issuance costs | (1,379,856) | - | - | - | - | (1,379,856) | |||||
Share issuance costs - non-cash | (399,977) | - | - | - | - | (399,977) | |||||
Options issued | 283,500 | 1,103,000 | - | - | - | 1,386,500 | |||||
Warrants issued | - | 399,977 | - | - | - | 399,977 | |||||
Warrants exercised | 1,054,351 | (1,176) | - | - | - | 1,053,175 | |||||
Flow-through premium liability | (857,143) | - | - | - | - | (857,143) | |||||
Net loss | - | - | - | - | (1,422,120) | (1,422,120) | |||||
Balance at June 30, 2021 | $29,528,072 | $ | 2,306,361 | $ | - | $ | - | $ (2,914,688) | $28,919,745 | ||
Share issuance costs | (69,395) | - | - | - | - | (69,395) | |||||
Options and RSUs issued | - | 1,107,000 | - | - | - | 1,107,000 | |||||
Warrants exercised | 227,438 | - | - | - | - | 227,438 | |||||
Net loss | - | - | - | - | (1,568,754) | (1,568,754) | |||||
Balance at December 31, 2021 | $29,686,115 | $ | 3,413,361 | $ | - | $ | - | $ (4,483,442) | $28,616,034 | ||
Shares issued for cash | 24,500,118 | - | - | - | - | 24,500,118 | |||||
Share issuance costs | (1,714,415) | - | - | - | - | (1,714,415) | |||||
Share issuance costs - non-cash | (629,350) | - | - | - | - | (629,350) | |||||
Options and RSUs issued | 191,750 | 2,607,000 | - | - | - | 2,798,750 | |||||
Options exercised | 813,200 | (368,700) | - | - | - | 444,500 | |||||
Warrants issued | - | 629,350 | - | - | - | 629,350 | |||||
Warrants exercised | 1,034,423 | (148,294) | - | - | - | 886,129 | |||||
Flow-through premium liability | (518,522) | - | - | - | - | (518,522) | |||||
Net loss | - | - | - | - | (3,898,548) | (3,898,548) | |||||
Balance at June 30, 2022 | $53,363,319 | $ | 6,132,717 | $ | - | $ | - | $ (8,381,990) | $51,114,046 |
The accompanying notes form an integral part of these condensed interim financial statements.
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Thesis Gold Inc. published this content on 25 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 September 2022 16:40:01 UTC.
