C2C Gold Corp.
(An Exploration Stage Company)
Condensed Interim Financial Statements (Unaudited - Prepared by Management)
Six months ended June 30, 2023 and 2022
(Expressed in Canadian Dollars)
C2C Gold Corp.
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 interim financial statements have not been reviewed by an auditor.
The accompanying unaudited condensed interim financial statements of 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 condensed interim financial statements in accordance with standards established by the Chartered Professional Accountants of Canada for a review of interim financial statements by an entity's auditor.
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C2C Gold Corp.
Condensed Interim Statements of Financial Position
As at June 30, 2023 and December 31, 2022
(Unaudited - Expressed in Canadian Dollar)
Notes | June 30, | December 31, | ||
2023 | 2022 | |||
Assets | ||||
Current assets | ||||
Cash and cash equivalents | $ | 225,789 | $ | 158,128 |
Accounts receivable | 6 | 19,179 | 106,987 | |
Prepaid expenses and deposits | 3,688 | 26,345 | ||
Marketable securities | 5 | 130,500 | 77,000 | |
379,156 | 368,460 | |||
Reclamation bonds | 7 | 103,782 | 124,296 | |
Equipment | 8 | 12,334 | 16,960 | |
Exploration and evaluation assets | 9 | 11,241,209 | 12,898,716 | |
$ | 11,736,481 | $ | 13,408,432 | |
Liabilities and shareholders' equity | ||||
Current liabilities | ||||
Accounts payable and accrued liabilities | $ | 177,781 | $ | 429,849 |
Due to related party | 12 | 5,076 | 30,540 | |
182,857 | 460,389 | |||
Shareholders' equity | ||||
Share capital | 10 | 30,213,023 | 29,783,023 | |
Contributed surplus | 11 | 4,871,283 | 4,799,155 | |
Deficit | (23,530,682) | (21,634,135) | ||
11,553,624 | 12,948,043 | |||
$ | 11,736,481 | $ | 13,408,432 |
Nature and continuance of operations (Note 1)
Subsequent events (Note 15)
Approved by the board of directors:
"Trey Wasser" | Director |
"Christopher Huggins" | Director |
See accompanying notes to the condensed interim financial statements
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C2C Gold Corp.
Condensed Interim Statements of Loss and Comprehensive Loss Three and Six months ended June 30, 2023 and 2022 (Unaudited - Expressed in Canadian Dollar)
Notes | |
Expenses | |
Management and consulting fees | 12 |
Professional fees | 12 |
Office and miscellaneous | 12 |
Transfer agent and filing fees | |
Conferences and promotion | 12 |
Stock-based compensation | 11,12 |
Other items | |
Interest income | |
Fair value adjustment on marketable | 5, 9 |
securities |
Impairment of exploration and | 9 |
evaluation assets | |
Loss on sale of exploration and | 9 |
evaluation assets | |
Net loss and comprehensive loss for the period
Basic and diluted loss per share
Weighted average number of common shares outstanding
Three months | Three months | Six months | Six months | ||||
ended June | ended June | ended June | ended June | ||||
30, 2023 | 30, 2022 | 30, 2023 | 30, 2022 | ||||
$ | 49,600 | $ | 67,088 | $ 103,188 | $ | 119,876 | |
27,462 | 23,498 | 46,360 | 40,685 | ||||
8,386 | 13,571 | 18,289 | 22,951 | ||||
9,628 | 10,340 | 19,495 | 20,844 | ||||
2,600 | 25,490 | 15,521 | 36,058 | ||||
23,338 | 219,883 | 72,128 | 272,125 | ||||
(121,014) | (359,870) | (274,981) | (512,539) | ||||
751 | 1,779 | 1,330 | 1,914 | ||||
(35,500) | (20,000) | (56,500) | (17,000) | ||||
(195,060) | - | (195,060) | (189,221) | ||||
(1,371,336) | - | (1,371,336) | - | ||||
(1,601,145) | (18,221) | (1,621,566) | (204,307) | ||||
$ | (1,722,159) | $ | (378,091) | $ | (1,896,547) | $ | (716,846) |
$ | (0.015) | $ | (0.004) | $ | (0.017) | $ | (0.008) |
112,765,120 | 90,798,660 | 108,966,036 | 86,306,351 |
See accompanying notes to the condensed interim financial statements
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C2C Gold Corp.
Condensed Interim Statements of Changes in Shareholders' Equity Six months ended June 30, 2023 and 2022
(Unaudited - Expressed in Canadian Dollar)
Number of | Contributed | ||||
Shares | Share Capital ($) | Surplus ($) | Deficit ($) | Total ($) | |
Balance, December 31, 2021 | 81,049,015 | 26,389,858 | 4,265,094 | (20,412,410) | 10,242,542 |
Private placement | 9,275,888 | 1,706,260 | - | - | 1,706,260 |
Share issue costs | - | (125,303) | - | - | (125,303) |
Finder's warrants issued | - | (76,292) | 76,292 | - | - |
Share issued for asset acquisition | 12,250,000 | 1,592,500 | - | - | 1,592,500 |
Stock-based compensation | - | - | 272,125 | - | 272,125 |
Net loss and comprehensive loss for the period | - | - | - | (716,846) | (716,846) |
Balance, June 30, 2022 | 102,574,903 | 29,487,023 | 4,613,511 | (21,129,256) | 12,971,278 |
Balance, December 31, 2022 | 105,099,903 | 29,783,023 | 4,799,155 | (21,634,135) | 12,948,043 |
Private placement | 8,600,000 | 430,000 | - | - | 430,000 |
Stock-based compensation | - | - | 72,128 | - | 72,128 |
Net loss and comprehensive loss for the period | - | - | - | (1,896,547) | (1,896,547) |
Balance, June 30, 2023 | 113,699,903 | 30,213,023 | 4,871,283 | (23,530,682) | 11,553,624 |
See accompanying notes to the condensed interim financial statements
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C2C Gold Corp. published this content on 23 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 August 2023 21:14:08 UTC.