Unaudited Interim Condensed Consolidated Financial Statements of
HUNTER TECHNOLOGY CORP.
Three Months Ended March 31, 2022 and 2021
(Expressed in US Dollars)
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HUNTER TECHNOLOGY 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 financial statements have not been reviewed by an auditor.
The accompanying unaudited interim consolidated condensed financial statements of the Company have been prepared by management and approved by the Board of Directors of the Company.
The Company's independent auditor has not performed a review of these unaudited interim condensed consolidated 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.
July 4, 2022
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March 31, | December 31, | ||||
Notes | 2022 | 2021 | |||
Assets | (Unaudited) | ||||
Current assets | |||||
Cash | $ | 70,903 | $ | 545 | |
Receivables | 2,864 | 2,161 | |||
Prepaid expenses and deposits | 6,183 | 5,566 | |||
79,950 | 8,272 | ||||
Non-current assets | |||||
Restricted cash | 6 | 27,300 | 27,591 | ||
27,300 | 27,591 | ||||
Total Assets | $ | 107,250 | $ | 35,863 | |
Liabilities and Shareholders' Equity | |||||
Current liabilities | |||||
Accounts payable | $ | 290,610 | $ | 372,468 | |
Accrued liabilities | 7 | 219,388 | 220,782 | ||
Loan payable | 115,000 | - | |||
Director advances | 50,000 | 99,122 | |||
674,998 | 692,372 | ||||
Total liabilities | 674,998 | 692,372 | |||
Shareholders' Equity | |||||
Share capital | 8 | 122,029,845 | 122,029,845 | ||
Contributed Surplus | 10,048,765 | 10,048,765 | |||
Accumulated deficit | (132,643,181) | (132,730,547) | |||
Accumulated other comprehensive income | (3,177) | (4,572) | |||
Total shareholders' equity | (567,748) | (656,509) | |||
Total Liabilities and Shareholders' Equity | $ | 107,250 | $ | 35,863 | |
Liquidity and going concern (See Note 2) | |||||
Approved by the Board of Directors: | |||||
/s/ Kostantinos Ghertsos | /s/ Alain Fernandez | ||||
Kostantinos Ghertsos | Alain Fernandez | ||||
Director | Director |
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HUNTER TECHNOLOGY CORP.
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) (all amounts expressed in US dollars)
Three Months Ended | |||||
March 31, | |||||
Note | 2022 | 2021 | |||
Expenses | |||||
General and administrative | $ | 16,804 | $ | 206,068 | |
Management fees and consulting | 10,000 | 66,500 | |||
Salaries and wages | - | 184,253 | |||
Platform development | - | 169,798 | |||
Amortization of intangibles | 5 | - | 286,375 | ||
Foreign currency loss (gain) | (462) | - | |||
Stock-based compensation | - | 190,201 | |||
Total expenses | 27,266 | 1,103,195 | |||
Other (gain)/loss | 10 | (114,632) | - | ||
Income (Loss) before taxes | 87,366 | (1,103,195) | |||
Deferred income tax recovery | - | (47,252) | |||
Net income (Loss) for the period | 87,366 | (1,055,943) | |||
Foreign currency translation adjustment | 1,395 | (1,954) | |||
Comprehensive loss for the period | $ | 88,761 | $ | (1,053,988) | |
Total comprehensive loss per share - basic | |||||
and diluted | $ | 0.00 | $ | (0.20) | |
Weighted average number of common shares | |||||
outstanding - basic and diluted | 4,533,465 | 4,533,465 |
See accompanying notes to the consolidated financial statements
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HUNTER TECHNOLOGY CORP.
Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (all amounts expressed in US dollars)
Accumulated | ||||||
Number of | other | |||||
common | Common | Contributed | comprehensive | |||
Notes | shares | shares | surplus | income | Deficit | Total |
$ | $ | $ | $ | $ | ||
Balances, December 31, 2020 | 45,334,655 | 122,029,845 | 9,584,080 | - | (121,260,257) | 10,353,668 |
Comprehensive loss for the period | - | - | 190,201 | - | - | 190,201 |
Foreign currency translation | - | - | - | 1,954 | - | 1,954 |
Net loss for period | - | - | - | - | (1,055,943) | (1,055,943) |
Balances, March 31, 2021 (unaudited) | 45,334,655 | 122,029,845 | 9,774,281 | 1,954 | (122,316,200) | 9,489,880 |
Stock-based compensation | - | - | 274,483 | - | - | 274,483 |
Foreign Currency translation | - | - | - | (6,526) | - | (6,526) |
Comprehensive loss for the period | - | - | - | - | (10,414,347) | (10,414,347) |
Balances, December 31, 2021 | 45,334,655 | 122,029,845 | 10,048,764 | (4,572) | (132,730,547) | (656,509) |
Foreign currency translation | - | - | - | 1,395 | - | 1,395 |
Net income for the period | - | - | - | - | 87,366 | 87,366 |
Balances, March 31, 2022 (unaudited) | 45,334,655 | 122,029,845 | 10,048,764 | (3,177) | (132,643,181) | (567,748) |
*The above number of shares has not been restated to reflect the impact of the share consolidations completed subsequent to March 31, 2022 (Note 17)
See accompanying notes to the consolidated financial statements
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Hunter Technology Corp. published this content on 05 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 July 2022 18:03:01 UTC.