FireFox Gold Corp.
Condensed Interim Consolidated Financial Statements
For the three months ended March 31, 2023 and 2022
(Expressed in Canadian dollars)
FireFox Gold Corp.
Condensed Interim Consolidated Statements of Financial Position
(Unaudited - Expressed in Canadian Dollars)
` | Note | March 31 | December 31 | ||||
2023 | 2022 | ||||||
ASSETS | |||||||
Current assets | 942,207 | 713,745 | |||||
Cash | $ | ||||||
Amounts receivable | 103,056 | 97,195 | |||||
Prepaid expenses | 66,240 | 71,795 | |||||
1,111,503 | 882,735 | ||||||
Long-term prepaid expenses | 99,458 | 99,458 | |||||
Equipment | 5 | 96,458 | 102,492 | ||||
Mineral properties | 6 | 1,142,297 | 1,142,297 | ||||
2,449,716 | 2,226,982 | ||||||
LIABILITIES | |||||||
Current liabilities | 137,931 | 77,693 | |||||
Accounts payable | $ | ||||||
Due to related parties | 8 | 71,883 | 76,815 | ||||
Accrued liabilities | 167,882 | 108,451 | |||||
377,696 | 262,959 | ||||||
SHAREHOLDERS' EQUITY | |||||||
Capital stock | 7 | $ | 16,891,973 | 16,284,503 | |||
Contributed Surplus | 7 | 2,911,355 | 2,571,207 | ||||
Subscriptions Receivable | 7 | - | - | ||||
Deficit | (17,731,308) | (16,891,687) | |||||
2,072,020 | 1,964,023 | ||||||
2,449,716 | 2,226,982 |
Nature of operations and going concern (Note 1)
Subsequent events (Note 9)
The accompanying notes are an integral part of these consolidated financial statements.
These consolidated financial statements were approved for issue by the Board of Directors on May 30, 2023 and are signed on its behalf by:
"Carl Löfberg" | , Director | "Patrick Highsmith" | , Director |
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FireFox Gold Corp.
Condensed Interim Consolidated Statements of Loss and Comprehensive Loss
(Unaudited - Expressed in Canadian Dollars)
For the three months | For the three months | ||||||
ended March 31, | ended March 31, | ||||||
Note | 2023 | 2022 | |||||
EXPENSES | 14,501 | $ | - | ||||
Advertising & promotion | $ | ||||||
Audit and tax compliance | 7,000 | 5,000 | |||||
Depreciation | 5 | 6,034 | 8,391 | ||||
Filing and listing fees | 1,856 | 2,229 | |||||
Foreign exchange loss (gain) | (788) | 8,908 | |||||
Legal | 5,292 | 6,847 | |||||
Marketing | 3,512 | 1,583 | |||||
Mineral property exploration | 5 | 398,826 | 1,193,601 | ||||
Office costs | 18,553 | 48,280 | |||||
Personnel | 8 | 68,991 | 95,921 | ||||
Regulatory fees | 8,220 | 7,932 | |||||
Share based payments | 8 | 246,028 | - | ||||
Shareholder communications | 63,128 | 43,966 | |||||
Other Income | (1,532) | (374) | |||||
Net and comprehensive loss | |||||||
for the period | $ | 839,621 | $ | 1,422,284 | |||
Basic and diluted loss per share | $ | (0.01) | $ | (0.01) | |||
Weighted average number of | |||||||
shares outstanding | 138,079,088 | 104,865,524 | |||||
The accompanying notes are an integral part of these consolidated financial statements. | . |
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FireFox Gold Corp.
Condensed Interim Consolidated Statements of Changes in Equity
(Unaudited - Expressed in Canadian Dollars)
Contributed | Subscriptions | Total | ||||||||||||
Number of Shares | Share Capital | Deficit | Shareholders' | |||||||||||
Surplus | Receivable | Equity | ||||||||||||
Balance at December 31, 2021 | 104,171,195 | $ | 13,075,963 | $ | 2,345,553 | $ | 30,500 | $ | (13,310,007) | $ | 2,142,009 | |||
Private placements | 21,964,286 | 1,864,316 | 208,774 | - | 2,073,090 | |||||||||
Share issuance costs | - | (72,625) | 16,880 | - | (55,745) | |||||||||
Stock options exercised | 5,000 | 500 | - | - | 500 | - | - | |||||||
Warrants exercised | 10,777,166 | 1,257,800 | - | - | 30,000 | - | 1,227,800 | |||||||
Share-based compensation | 1,056,997 | 158,549 | 158,549 | |||||||||||
Net loss and comprehensive loss for the period | - | - | - | - | (3,581,680) | (3,581,680) | ||||||||
Balance at December 31, 2022 | 137,974,644 | $ | 16,284,503 | $ | 2,571,207 | $ | - | $ | (16,891,687) | $ | 1,964,023 | |||
Private placements | 6,235,000 | 623,500 | - | 623,500 | ||||||||||
Share issuance costs | - | (16,030) | - | (16,030) | ||||||||||
Share-based compensation | - | 340,148 | 340,148 | |||||||||||
Net loss and comprehensive loss for the period | - | - | - | - | (839,621) | (839,621) | ||||||||
Balance at March 31, 2023 | 144,209,644 | $ | 16,891,973 | $ | 2,911,355 | $ | - | $ | (17,731,308) | $ | 2,072,020 | |||
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FireFox Gold Corp.
Condensed Interim Consolidated Statements of Cash Flows
(Unaudited - Expressed in Canadian Dollars)
For the three | For the three months | ||||||
months ended March | |||||||
ended March 31, | |||||||
31, | |||||||
Note | 2023 | 2022 | |||||
Operating activities | |||||||
Loss for the period | $ | (839,621) | $ | (1,422,284) | |||
Non-cash items | |||||||
Share-based payments | 8 | 340,148 | - | ||||
Depreciation | 5 | 6,034 | 8,391 | ||||
Change in non-cash working capital: | |||||||
Amounts receivable | (5,861) | (126,517) | |||||
Prepaid expenses | 5,555 | 22,995 | |||||
Accounts payable | 60,238 | (40,463) | |||||
Due to related parties | 8 | (4,932) | 30,109 | ||||
Accrued liabilities | 59,431 | (153,546) | |||||
Net cash used in operating activities | (379,008) | (1,681,314) | |||||
Investing activities | |||||||
Purchase of equipment | 5 | - | (19,667) | ||||
Net cash provided by (used in) investing activities | - | (19,667) | |||||
Financing activities | |||||||
Private placement, net of share issuance costs | 7 | 607,470 | - | ||||
Subscriptions receivable | 7 | - | (18,500) | ||||
Stock options exercised | 7 | - | 500 | ||||
Warrants exercised | 7 | - | 691,000 | ||||
Net cash provided by financing activities | 607,470 | 673,000 | |||||
Change in cash during the period | 228,462 | (1,027,981) | |||||
Cash, beginning of the period | 713,745 | 1,579,171 | |||||
Cash, end of the period | $ | 942,207 | $ | 551,190 | |||
SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS | |||||||
Non-cash transactions and other supplemental disclosures: | |||||||
Interest paid | $ | - | $ | - | |||
Income taxes paid | $ | - | $ | - | |||
The accompanying notes are an integral part of these consolidated financial statements.
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Firefox Gold Corp. published this content on 29 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 June 2023 17:33:16 UTC.