TOMBILL MINES LIMITED
Condensed Consolidated Interim Financial Statements
For six months ended April 30, 2022 and 2021
(Unaudited, expressed in Canadian Dollars)
TOMBILL MINES LIMITED
Index | Page |
Condensed Consolidated Interim Financial Statements | |
Condensed Consolidated Interim Statements of Financial Position | 4 |
Condensed Consolidated Interim Statements of Loss and Comprehensive Loss | 5 |
Condensed Consolidated Interim Statements of Changes in Equity (Deficit) | 6-7 |
Condensed Consolidated Interim Statements of Cash Flows | 8 |
Notes to the Condensed Consolidated Interim Financial Statements | 9-26 |
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TOMBILL MINES LIMITED
Notice of no Auditor Review of Condensed Consolidated 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 condensed consolidated 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 condensed consolidated interim financial statements of the Company have been prepared by and are the responsibility of the Company's management. They have been approved by the Audit Committee and Board of Directors of the Company.
The Company's independent auditor, McGovern Hurley has not performed a review of these unaudited condensed consolidated interim financial statements in accordance with the standards established by the Chartered Professional Accountants of Canada for a review of financial statements by an entity's auditors.
Tombill Mines Limited
June 15, 2022
3
Tombill Mine Limited
Condensed Consolidated Interim Statements of Loss and Comprehensive loss (Unaudited, expressed in Canadian dollars)
Note | April 30, 2022 | October 31, 2021 | |||
(unaudited) | (Restated - see Note 4) | ||||
(audited) | |||||
Assets | |||||
Current assets: | |||||
Cash and cash equivalents | 5 | $ | 1,879,146 | $ | 2,280,688 |
Receivables | 6 | 58,363 | 659,938 | ||
Prepaid expenses | 75,367 | 104,368 | |||
2,012,876 | 3,044,994 | ||||
Other assets: | |||||
Equipment | 9 | 43,879 | 56,057 | ||
$ | 2,056,755 | $ | 3,101,051 | ||
Liabilities and Shareholders' Equity | |||||
(Deficit) | |||||
Current liabilities: | |||||
Trade payables and accrued | 1,481,589 | ||||
liabilities | 7 | $ | 651,835 | $ | |
Flow-through premium liability | 8 | - | - | ||
651,835 | 1,481,589 | ||||
Shareholders' Equity (Deficit): | |||||
Share capital | 10 | 13,055,183 | 11,638,084 | ||
Reserve | 10(f) | 846,179 | 787,550 | ||
Deficit | -12,496,442 | -10,806,172 | |||
1,404,920 | 1,619,462 | ||||
$ | 2,056,755 | $ | 3,101,051 |
Nature and continuance of operations (Note 1)
Subsequent event (Note 13)
The accompanying notes form an integral part of the condensed consolidated interim financial statements.
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Tombill Mine Limited
Condensed Consolidated Interim Statements of Loss and Comprehensive loss (Unaudited, expressed in Canadian dollars)
Three months ended April 30, | Six months ended April 30, | ||||||||
Note | 2022 | 2021 | 2022 | 2021 | |||||
(Restated - | (Restated - | ||||||||
see Note 4) | see Note 4) | ||||||||
Expenses: | |||||||||
Exploration | $ | 448,918 | $ | 1,184,641 | $ | 896,631 | $ | 1,446,504 | |
Administrative fees | 4,021 | 28,506 | 41,814 | 44,339 | |||||
Consulting | 206,583 | 212,556 | 383,408 | 277,928 | |||||
Depreciation | 6,090 | 149 | 12,178 | 149 | |||||
Marketing | 10,855 | 78,121 | 45,106 | 123,549 | |||||
Office and miscellaneous | 33,643 | 11,157 | 13,344 | 16,949 | |||||
Professional fees | 40,475 | 54,045 | 178,091 | 98,062 | |||||
Property tax | 29,906 | 14,382 | 20,775 | 14,649 | |||||
Regulatory and transfer agent fees | 17,547 | 21,352 | 39,891 | 25,423 | |||||
Rent | - | 13,559 | 13,559 | ||||||
Insurance | 12,439 | - | 27,017 | - | |||||
Share-based compensation | 10(d) | (84,144) | 111,432 | 27,800 | 268,838 | ||||
Share-based payments | - | - | - | 3,305,075 | |||||
(726,332) | (1,729,900) | (1,686,055) | (5,635,024) | ||||||
LOSS BEFORE OTHER ITEMS | (726,332) | (1,729,900) | (1,686,055) | (5,635,024) | |||||
Other Items: | |||||||||
Interest income | 2,274 | 2,622 | 3,308 | 4,021 | |||||
Other income | - | - | - | 750,000 | |||||
Listing expense | (7,523) | (12,311) | (7,523) | (1,783,409) | |||||
(5,249) | (9,689) | (4,215) | (1,029,388) | ||||||
LOSS BEFORE INCOME TAXES | (731,581) | (1,739,589) | (1,690,270) | (6,664,412) | |||||
Deferred income tax recovery | - | 111,966 | - | 135,863 | |||||
NET AND COMPREHENSIVE | (731,581) | (1,627,623) | |||||||
LOSS FOR THE PERIOD | $ | $ | $ | (1,690,270) | $ | (6,528,549) | |||
Loss per common share | |||||||||
- basic and diluted | $ | (0.005) | $ | (0.011) | $ | (0.011) | $ | (0.049) | |
Weighted average number of | |||||||||
common shares outstanding | 160,068,848 | 160,068,848 | |||||||
- basic and diluted | 149,496,735 | 133,857,585 |
The accompanying notes form an integral part of the condensed consolidated interim financial statements.
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Tombill Mines Ltd. published this content on 30 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 June 2022 12:32:04 UTC.