KERMODE RESOURCES LTD. KERMODE RESOURCES LTD.
CONDENSED INTERIM FINANCIAL STATEMENTS
(Unaudited)
(Unaudited - Expressed in Canadian Dollars)
FOR THE SIX MONTH PERIOD ENDED APRIL 30, 2021
NOTICE OF NO AUDITOR REVIEW OF
CONDENSED 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 condensed interim financial statements, they must be accompanied by a notice indicating that an auditor has not reviewed the financial statements.
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 financial statements in accordance with standards established by the Canadian Institute of Chartered Accountants for a review of interim financial statements by an entity's auditor.
KERMODE RESOURCES LTD.
CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION (Unaudited - Expressed in Canadian Dollars)
AS AT
April 30, | October 31, | |||||||||||||
2021 | 2020 | |||||||||||||
ASSETS | ||||||||||||||
Current | ||||||||||||||
Cash | $ | 78,759 | $ | 58,931 | ||||||||||
Receivables | 2,086 | 1,703 | ||||||||||||
Advances receivable (Note 3) | 6,490 | 48,690 | ||||||||||||
87,335 | 109,324 | |||||||||||||
Exploration and evaluation assets (Note 4) | 39,000 | - | ||||||||||||
$ | 126,335 | $ | 109,324 | |||||||||||
LIABILITIES AND SHAREHOLDERS' DEFICIENCY | ||||||||||||||
Current | ||||||||||||||
Accounts payable and accrued liabilities | $ | 345,068 | $ | 349,725 | ||||||||||
Subscription advances (Note 6) | - | 132,500 | ||||||||||||
345,068 | 482,225 | |||||||||||||
Shareholders' Deficiency | ||||||||||||||
Share capital (Note 6) | 9,434,521 | 9,185,432 | ||||||||||||
Subscription advances (Note 6) | (36,500) | - | ||||||||||||
Deficit | (9,616,754) | (9,558,333) | ||||||||||||
(218,733) | (372,901) | |||||||||||||
$ | 126,335 | $ | 109,324 | |||||||||||
Nature and continuance of operations (Note 1) | ||||||||||||||
Approved and authorized by the Board on June 28, 2021. | ||||||||||||||
"Donald G. Moore" | Director | "D. Neil Briggs" | Director |
The accompanying notes are an integral part of these financial statements.
KERMODE RESOURCES LTD.
CONDENSED INTERIM STATEMENTS OF COMPREHENSIVE LOSS (Unaudited - Expressed in Canadian Dollars)
FOR THE
Six Month | Six Month | Three Month | Three Month | |||||||||
Period | Period | Period | Period | |||||||||
Ended | Ended | Ended | Ended | |||||||||
April 30, | April 30, | April 30, | April 30, | |||||||||
2021 | 2020 | 2021 | 2020 | |||||||||
GENERAL AND ADMINISTRATIVE EXPENSES | ||||||||||||
Investor relations | $ | - | $ | 500 | $ | - | $ | - | ||||
Office and sundry | 19,941 | 889 | 13,802 | 145 | ||||||||
Professional fees | 12,300 | 5,041 | 10,750 | 891 | ||||||||
Rent | 7,744 | - | 4,500 | - | ||||||||
Shareholder communications | 435 | 375 | 255 | 255 | ||||||||
Telephone | 6,738 | - | 6,224 | - | ||||||||
Transfer agent and filing fees | 11,263 | 8,370 | 10,615 | 7,680 | ||||||||
Loss and comprehensive loss for the period | (58,421) | (15,175) | (46,146) | (8,971) | ||||||||
Basic and diluted loss per common share | $ | (0.01) | $ | (0.01) | $ | 0.01 | $ | 0.01 | ||||
Weighted average number of common shares | 67,628,484 | 65,397,373 | 72,090,706 | 65,397,373 | ||||||||
outstanding | ||||||||||||
The accompanying notes are an integral part of these financial statements.
KERMODE RESOURCES LTD.
CONDENSED INTERIM STATEMENTS OF CASH FLOWS (Unaudited - Expressed in Canadian Dollars)
FOR THE SIX MONTH PERIOD ENDED APRIL 30
2021 | 2020 | |||||||
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||
Loss for the period | $ | (58,421) | $ | (15,175) | ||||
Items not affecting cash: | ||||||||
Unrealized loss on marketable securities | - | - | ||||||
Changes in non-cash working capital items: | ||||||||
Receivables | (383) | (3,287) | ||||||
Accounts payable and accrued liabilities | (4,657) | 14,818 | ||||||
Net cash used in operating activities | (63,461) | (3,644) | ||||||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||
Receipt (payment) on advances receivable, net | 42,200 | 28,580 | ||||||
Exploration and evaluation assets | (35,000) | - | ||||||
Net cash provided by investing activities | 7,200 | 28,580 | ||||||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||
Issuance of common shares | 81,000 | - | ||||||
Share issuance costs | (4,911) | - | ||||||
Net cash (used in)/provided by financing activities | 76,089 | - | ||||||
Change in cash for the period | 19,828 | 24,936 | ||||||
Cash, beginning of period | 58,931 | 54 | ||||||
Cash, end of period | $ | 78,759 | $ | 24,990 | ||||
Cash paid for interest during the period | $ | - | $ | - | ||||
Cash paid for income tax during the period | $ | - | $ | - | ||||
Supplemental disclosures with respect to cash flows (Note 7)
The accompanying notes are an integral part of these financial statements.
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Kermode Resources Ltd. published this content on 29 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 June 2021 12:26:06 UTC.
