GOODBODY HEALTH INC.
(Formerly SATIVA WELLNESS GROUP INC. )
Unaudited Condensed Interim Consolidated Financial Statements for
the three month period ended March 31, 2022
(Expressed in GBP)
NOTICE OF NO AUDITOR REVIEW
OF THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
Under National Instrument 51-102 "Continuous Disclosure Obligations", if an auditor has not performed a review of the interim financial statements, the financial statements must be accompanied by a notice indicating that they have not been reviewed by an auditor.
The accompanying unaudited interim condensed consolidated 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 unaudited interim condensed consolidated financial statements in accordance with standards established by CPA (Chartered Professional Accountants) Canada for a review of unaudited interim condensed consolidated financial statements by an entity's auditor.
May 24, 2022
GOODBODY HEALTH INC. (FORMALLY SATIVA WELLNESS GROUP INC.) Condensed Unaudited Interim Consolidated Statements of Financial Position (Expressed in GBP)
Note | March 31, 2022 | December 31, | |
2021 | |||
£ | £ | ||
Assets | |||
Cash and cash equivalents | 5 | 5,937,933 | 6,068,172 |
Trade receivables | 304,887 | 277,810 | |
Refundable sales taxes receivable | 41,499 | 144,597 | |
Inventories | 6 | 587,723 | 588,717 |
Assets held for sale | 9 | 46,269 | 46,345 |
Prepaid expenses and deposits | 434,261 | 146,145 | |
Other current assets | 25,052 | 24,372 | |
Total Current Assets | 7,377,624 | 7,296,158 | |
Plant and equipment | 7 | 2,589,515 | 2,602,306 |
Right of use assets | 8 | 295,072 | 341,792 |
Intangible assets | 10 | 30,133 | 30,941 |
Goodwill | 10 | 572,072 | 572,072 |
Total Assets | 10,864,416 | 10,843,269 | |
Liabilities | |||
Accounts payable and accrued liabilities | 2,514,081 | 2,319,768 | |
Current portion of lease obligation | 11 | 139,158 | 152,111 |
Corporation tax provision | 348,222 | 267,376 | |
Other current liabilities | 527,403 | 850,715 | |
3,528,864 | 3,589,970 | ||
Long-term portion of lease obligation | 11 | 152,495 | 184,842 |
Total Liabilities | 3,681,359 | 3,774,812 | |
Shareholders' Equity | 12 | ||
Share capital | 15,124,402 | 15,124,402 | |
Share based payment reserve | 3,597,901 | 3,584,962 | |
Accumulated other comprehensive Income | 700,016 | 332,321 | |
Deficit | (12,239,262) | (11,973,228) | |
Shareholders' Equity | 7,183,057 | 7,068,457 | |
Total Liabilities and Shareholders' Equity | 10,864,416 | 10,843,269 | |
Nature and continuance of operations (note 1)
Subsequent events (note 19)
Approved and authorised for dissemination on behalf of the Board of Directors on May 24, 2022:
"Marc Howells" | "Anne Tew" | |
Marc Howells - Director | Anne Tew - Director |
The accompanying notes are an integral part of these condensed unaudited interim consolidated financial statements
GOODBODY HEALTH INC.
Condensed Unaudited Interim Consolidated Statements of Loss and Comprehensive Loss (Expressed in GBP)
Note | For the three months ended | ||
March 31 | |||
2022 | 2021 | ||
£ | £ | ||
Revenue | 5,168,662 | 1,376,427 | |
Cost of sales | (2,565,145) | (669,784) | |
Gross profit | 2,603,517 | 706,643 | |
Operating Expenses | |||
General and administrative expenses | 4 | (2,372,139) | (1,244,131) |
Share-based payment charges | 14 | (12,939) | (68,909) |
Depreciation and amortization | (128,389) | (244,282) | |
Interest income / (expense) | (2,281) | (3,691) | |
Fair value (loss) / gain on investments | 1,004 | 31 | |
Grant income | - | 2,092 | |
Other Income | 2 | - | 199,876 |
Foreign currency translation on | |||
intercompany loans | (273,961) | (411,706) | |
_________ | _________ | ||
Loss before income taxes | (185,188) | (1,064,077) | |
Income tax | (80,846) | - | |
_________ | _________ | ||
Net loss | (266,034) | (1,064,077) | |
Items that may be reclassified to profit | |||
or loss | |||
Currency translation adjustment | 367,695 | 143,725 | |
_________ | _________ | ||
Comprehensive profit/(loss) for the | |||
year | 101,661 | (920,352) | |
Profit/(loss) per share | Pence | Pence | |
Basic and diluted | 0.03 | (0.30) | |
Weighted number of shares | 364,962,152 | 302,592,941 | |
outstanding |
The accompanying notes are an integral part of these condensed unaudited interim consolidated financial statements
GOODBODY HEALTH INC.
Condensed Unaudited Interim Consolidated Statements of
Changes in Equity
(Expressed in GBP)
Share Based | ||||||
Number of | Share Capital | payment | Trans | Total | ||
Outstanding | Reserve | lation Reserve | Deficit | Shareholder's | ||
Shares | Equity | |||||
£ | £ | £ | £ | £ | ||
Balance, January 1, 2021 | 302,592,941 | 12,915,426 | 2,847,218 | 153,693 | (9,658,848) | 6,284,489 |
Share-based payments | - | - | 68,909 | - | - | 68,909 |
Currency translation reserve | - | - | - | 143,725 | - | 143,725 |
Net loss | - | - | - | - | (1,064,077) | (1,064,077) |
Balance, March 31, 2021 | 302,592,941 | 12,915,426 | 2,943,127 | 297,418 | (10,722,925) | 5,433,046 |
Balance, January 1, 2022 | 364,962,152 | 15,124,402 | 3,584,962 | 332,321 | (11,973,228) | 7,068,457 |
Share-based payments (note 14) | - | - | 12,939 | - | - | 12,939 |
Currency translation reserve | - | - | - | 367,695 | - | 367,695 |
Net loss | - | - | - | - | (266,034) | (266,034) |
Balance, March 31, 2022 | 364,962,152 | 15,124,402 | 3,597,901 | 700,016 | (12,239,262) | 7,183,057 |
The accompanying notes are an integral part of these condensed unaudited interim consolidated financial statements.
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Goodbody Health Inc. published this content on 24 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 May 2022 21:11:03 UTC.