Golden Goliath Resources : Financial Statement 2022
January 27, 2023 at 12:53 am IST
Share
GOLDEN GOLIATH RESOURCES LTD.
CONSOLIDATED FINANCIAL STATEMENTS
THREE MONTHS ENDED NOVEMBER 30, 2022 AND THE YEAR ENDED AUGUST 31, 2022
(Expressed in Canadian Dollars)
(Unaudited)
NOTICE TO READERS
The attached condensed consolidated interim financial statements for the three months period ended November 30, 2022 have been prepared by and are the responsibility of the Company's management and have been approved by the Board of Directors of the Company. The Company's independent auditor has not performed a review of these interim financial statements.
2
GOLDEN GOLIATH RESOURCES LTD.
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Expressed in Canadian Dollars)
(Unaudited)
NOVEMBER 30,
AUGUST 31,
2022
2022
ASSETS
Current Assets
Cash
$
51,296
$
137,535
Short-term investments (Note 4)
762,022
857,516
Accounts receivable (Note 5)
65,121
31,211
Prepaid expenses
27,257
34,212
Total Current Assets
905,696
1,060,474
Non-current Assets
Value-added taxes recoverable
7,029
6,302
Exploration and evaluation assets (Notes 6 and 13)
3,565,280
3,313,666
Total Assets
$
4,478,005
$
4,380,442
LIABILITIES
Current Liabilities
Accounts payable and accrued liabilities
$
252,514
$
47,500
Due to related parties (Note 12)
192,500
180,500
Total Liabilities
445,014
228,000
EQUITY
Share capital (Note 7)
30,458,588
30,458,588
Share-based payments reserve (Note 7)
3,563,584
3,563,584
Deficit
(29,989,181)
(29,869,730)
Total Equity
4,032,991
4,152,442
Total Liabilities And Equity
$
4,478,005
$
4,380,442
Going Concern (Note 1)
These consolidated financial statements were authorized for issue by the Board of Directors on January 26, 2023. They are signed on behalf of the Company by:
"J. Paul Sorbara"
"Stephen W. Pearce"
Director
Director
The accompanying notes are an integral part of these consolidated financial statements
3
GOLDEN GOLIATH RESOURCES LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(Expressed in Canadian Dollars)
(Unaudited)
Three months ended November 30,
2022
2021
Expenses
Consulting (Note 12)
$
24,000
$
24,000
Foreign exchange (gain) loss
(1,657)
928
Investor relations
18,329
26,380
Management fees (Note 12)
34,500
34,500
Office and general
7,446
3,007
Professional fees
24,857
28,259
Rent and utilities
5,077
3,776
Transfer agent and filing fees
2,613
1,369
Loss Before Other Income (Expenses)
(115,165)
(122,219)
Other Income (Expenses)
Interest income
4,726
1,156
Write down of exploration and evaluation assets (Notes 6 and 13)
(9,012)
(8,233)
Net Loss And Comprehensive Loss For The Period
$
(119,451)
$
(129,296)
Loss Per Share - Basic and Diluted
$
(0.01)
$
(0.01)
Weighted Average Number Of Shares Outstanding - Basic and diluted
148,555,512
142,782,338
The accompanying notes are an integral part of these consolidated financial statements
4
GOLDEN GOLIATH RESOURCES LTD.
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
THREE MONTHS ENDED NOVEMBER 30, 2022 AND YEAR ENDED AUGUST 31, 2022
(Expressed in Canadian Dollars)
(Unaudited)
COMMON SHARES
WITHOUT PAR VALUE
SHARE-BASED
PAYMENTS
SHARES
AMOUNT
RESERVE
DEFICIT
TOTAL EQUITY
Balance, August 31, 2021
145,087,019
$
30,242,288
3,497,884
$
(29,273,144)
$
4,467,028
Units issued for private placement
6,000,000
163,160
40,790
-
203,950
Units issued for services
76,840
19,210
-
96,050
Share issuance costs
-
(23,700)
5,700
-
(18,000)
Net loss for the year
-
-
-
(596,586)
(596,586)
Balance, August 31, 2022
151,087,019
30,458,588
3,563,584
(29,869,730)
4,152,442
Net loss for the period
-
-
-
(119,451)
(119,451)
Balance, November 30, 2022
151,087,019
$
30,458,588
3,563,584
$
(29,989,181)
$
4,032,991
The accompanying notes are an integral part of these consolidated financial statements
5
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
Original Link
Original Document
Permalink
Disclaimer
Golden Goliath Resources Ltd. published this content on 26 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 January 2023 19:22:03 UTC.
Golden Goliath Resources Ltd. is a Canada-based junior exploration company. The Company is focused on exploring and developing about four rare earth element properties in Quebec and two gold properties in the Red Lake and Sault Ste. Marie Mining Districts of Ontario. It also holds a 100% interest in the San Timoteo property, located in the Sierra Madre Occidental Mountains of northwestern Mexico, as well as NSR royalties on seven other nearby properties. The four rare earth element properties in Quebec include Victory 21 Property, Citadell Property, Bedard Property, and Ernest Property. The Victory 21 Property includes about 18 map claims, 10 pending claims over 1200 hectares. The Citadell Property, Bedard Property and Ernest Property are located in Central Quebec, stable modern mining jurisdiction, which includes about 24, 22, and 34 map claims. Its Wish Ore Property is located 60 kilometers north of Sault Ste Marie. Its other properties include the Kwai Property and SLF Property.
GOLDEN GOLIATH RESOURCES LTD. 