Blue Moon Metals Inc.
(formerly Blue Moon Zinc Corp.)
Condensed Interim Consolidated Financial Statements
For the three and nine months ended September 30, 2021
(Unaudited - prepared by management) (Expressed in Canadian dollars)
NOTICE TO READER:
These condensed interim consolidated financial statements have not been reviewed by the Company's external auditors. These statements have been prepared by and are the responsibility of the Company's management. This notice is being provided in accordance with National Instrument 52-102 - Continuous Disclosure Obligations.
Blue Moon Metals Inc. (formerly Blue Moon Zinc Corp.)
Condensed Interim Consolidated Financial Statements (Unaudited - prepared by management)
(Expressed in Canadian dollars)
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
September 30, 2021 | December 31, 2020 | ||||
ASSETS | $ | $ | |||
Note | 1,210,265 | 267,015 | |||
Cash | |||||
Receivables | 10b | 14,009 | 4,175 | ||
Prepaid expenses | 12,042 | 5,000 | |||
Restricted cash | 10b | 13,864 | 13,864 | ||
CURRENT ASSETS | 1,250,180 | 290,054 | |||
Mineral property interests | 3 | 698,007 | 698,007 | ||
ASSETS | 1,948,187 | 998,061 | |||
LIABILITIES | 132,382 | 98,507 | |||
Accounts payable and accrued liabilities | |||||
Due to related parties | 7 | 345,713 | 460,629 | ||
LIABILITIES | 478,095 | 559,136 | |||
SHAREHOLDERS' EQUITY | 11,362,875 | 10,279,967 | |||
Share capital | 4 | ||||
Contributed surplus | 1,949,627 | 1,157,245 | |||
Deficit | (11,842,410) | (11,008,287) | |||
SHAREHOLDERS' EQUITY | 1,470,092 | 428,925 | |||
LIABILITIES AND SHAREHOLDERS' EQUITY | 1,948,187 | 988,061 | |||
Nature of operations and going concern | 1 |
Approved by the Board of Directors | ||||
Douglas Urch (signed) Director | Patrick McGrath (signed) | Director | ||
The accompanying notes are an integral part of these consolidated financial statements | - 2 - |
Blue Moon Metals Inc. (formerly Blue Moon Zinc Corp.)
Condensed Interim Consolidated Financial Statements (Unaudited - prepared by management)
(Expressed in Canadian dollars)
CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS
Three Months Ended | Nine Months Ended | |||||||
September 30, | September 30, | |||||||
2021 | 2020 | 2021 | 2020 | |||||
$ | $ | $ | $ | |||||
General exploration expenses | 348,997 | - | 393,353 | 7,772 | ||||
Filing and regulatory | 2,657 | 863 | 51,880 | 12,189 | ||||
General administrative costs | 2,688 | 719 | 6,960 | 2,967 | ||||
Professional fees | - | 4,231 | 11,277 | 3,559 | ||||
Share-based payments | 23,275 | - | 96,382 | - | ||||
Shareholder communication and travel | 34,519 | 560 | 194,333 | 2,485 | ||||
Consulting fees | 20,000 | 18,000 | 56,000 | 54,000 | ||||
Foreign exchange (gain) loss | 1,516 | - | 1,051 | 119 | ||||
Interest expense | 7,713 | 7,713 | 22,887 | 22,971 | ||||
LOSS AND COMPREHENSIVE LOSS | 441,365 | 32,086 | 834,123 | 106,012 | ||||
Basic and diluted loss per share | 0.00 | 0.00 | 0.01 | 0.00 | ||||
Weighted average number of common | 148,080,995 | 109,350,707 | 134,800,995 | 109,350,707 | ||||
shares outstanding | ||||||||
The accompanying notes are an integral part of these consolidated financial statements | - 3 - |
Blue Moon Metals Inc. (formerly Blue Moon Zinc Corp.)
Condensed Interim Consolidated Financial Statements (Unaudited - prepared by management)
(Expressed in Canadian dollars)
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the nine months ended September 30, | 2021 | 2020 | |||
Cash flows provided by (used in) | Note | $ | $ | ||
OPERATING ACTIVITIES | (106,012) | ||||
Loss and comprehensive loss | (834,123) | ||||
Items not affecting cash | 96,382 | - | |||
Share-based payments | |||||
Interest expense | 7,713 | 22,971 | |||
104,095 | 22,971 | ||||
Change in non-cash working capital items | (105,630) | 27,793 | |||
OPERATING ACTIVITIES | (835,658) | (55,248) | |||
FINANCING ACTIVITIES | |
Issuance of securities | 4b |
Issuance costs | 4b |
Subscriptions received in advance |
1,906,346-
(127,438)-
- 70,019
FINANCING ACTIVITIES | 1,778,908 | 70,019 | |||
INVESTING ACTIVITIES | - | (29,055) | |||
Buyback Net Smelter Royalty | 3 | ||||
INVESTING ACTIVITIES | - | (29,055) | |||
CHANGE IN CASH | 943,250 | (14,284) | |||
Cash - Beginning | 267,015 | 95,927 | |||
CASH - ENDING | 1,210,265 | 81,643 |
The accompanying notes are an integral part of these consolidated financial statements | - 4 - |
Blue Moon Metals Inc. (formerly Blue Moon Zinc Corp.)
Condensed Interim Consolidated Financial Statements (Unaudited - prepared by management)
(Expressed in Canadian dollars)
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
Note | Number of | Share | Subscriptions | Contributed | Deficit | Shareholders' | |
Shares | Capital | received in | Surplus | Equity | |||
$ | advance | $ | $ | $ | |||
DECEMBER 31, 2019 | 109,350,707 | 9,945,688 | - | 1,075,014 | (10,744,950) | 275,752 | |
Subscriptions received in advance | - | - | 70,019 | - | - | 70,019 | |
Loss and comprehensive loss | - | - | - | - | (106,012) | (106,012) | |
SEPTEMBER 30, 2020 | 109,350,707 | 9,945,688 | 70,019 | 1,075,014 | (10,850,962) | 235,759 | |
Private placement | 4b | 8,589,557 | 257,686 | (70,019) | 42,948 | - | 230,615 |
Private placement issuance costs | 4b | - | (3,311) | - | - | - | (3,311) |
Shares issued in debt settlement | 4c | 1,613,714 | 80,686 | - | - | - | 80,686 |
Debt settlement costs | 4c | - | (782) | - | - | - | (782) |
Share-based payments | 6 | - | - | - | 39,283 | - | 39,283 |
Loss and comprehensive loss | - | - | - | - | (157,325) | (157,325) | |
DECEMBER 31, 2020 | 119,553,978 | 10,279,967 | - | 1,157,245 | (11,008,287) | 428,925 | |
Private placement | 4b | 28,527,017 | 1,210,346 | - | 696,000 | - | 1,906,346 |
Private placement issuance costs | 4b | - | (127,438) | - | - | - | (127,438) |
Share-based payments | 6 | - | - | - | 96,382 | - | 96,382 |
Loss and comprehensive loss | - | - | - | - | (834,123) | (834,123) | |
SEPTEMBER 30, 2021 | 148,080,995 | 11,362,875 | - | 1,949,627 | (11,842,410) | 1,470,092 |
The accompanying notes are an integral part of these consolidated financial statements | - 5 - |
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Blue Moon Zinc Corp. published this content on 24 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 November 2021 21:09:05 UTC.