NOBLE IRON INC.
INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited) Expressed in Canadian Dollars
FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2022
AND 2021
NOBLE IRON INC.
CONTENTS
INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS | Page |
Management's comments on Unaudited Interim Condensed Consolidated Financial Statements | 1 |
Interim Condensed Consolidated Statements of Financial Position | 2 |
Interim Condensed Consolidated Statements of Comprehensive Income | 3 |
Interim Condensed Consolidated Statements of Changes in Shareholders' Equity | 4 |
Interim Condensed Consolidated Statements of Cash Flows | 5 |
Notes to Interim Condensed Consolidated Financial Statements | 6-13 |
MANAGEMENT'S COMMENTS ON
UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
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 interim financial statements have not been reviewed by an auditor.
The accompanying unaudited interim condensed consolidated financial statements of Noble Iron Inc. (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 interim condensed consolidated financial statements in accordance with standards established by the CPA Canada for a review of interim financial statements by an entity's auditor.
1
NOBLE IRON INC.
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Unaudited)
AS AT JUNE 30, 2022 AND DECEMBER 31, 2021
In Canadian Dollars
Notes | 2022 | 2021 | |
Assets | $ | $ | |
Current assets | |||
Cash and cash equivalents | 3 | 38,261,902 | 5,497,578 |
Trade receivables | - | 654,237 | |
Prepayment and other assets | 3 | 82,749 | 141,902 |
Total current assets | 38,344,651 | 6,293,717 | |
Non-current assets | |||
Intangible assets | - | 13,754 | |
Property and equipment | - | 17,949 | |
Non current financial asset | 3 | 4,200,000 | - |
Total non-current assets | 4,200,000 | 31,703 | |
Total assets | 42,544,651 | 6,325,420 | |
Liabilities and Equity | |||
Current liabilities | |||
Trade and other payables | 2,023,229 | 762,744 | |
Contract liabilities | - | 197,026 | |
Tax payable | 3,221,500 | - | |
Total current liabilities | 5,244,729 | 959,770 | |
Non-current liabilities | |||
Long term note | 4 | - | 230,125 |
Total non-current liabilities | - | 230,125 | |
Total liabilities | 5,244,729 | 1,189,895 | |
Equity attributable to owners of the parent | |||
Share capital | 6 | 36,471,467 | 36,471,467 |
Other reserves | 4,519,461 | 4,519,461 | |
Accumulated other comprehensive income | 1,804,575 | 2,149,005 | |
Accumulated deficit | (5,495,581) | (38,004,408) | |
Total equity | 37,299,922 | 5,135,525 | |
Total equity and liabilities | 42,544,651 | 6,325,420 |
See Accompanying Notes to Interim Condensed Consolidated Financial Statements
2
NOBLE IRON INC.
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Unaudited)
FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2022 AND 2021
In Canadian Dollars
Continuing operations
Operating expenses
General and administrative
Loss from continuing operations
Finance loss / (income)
Interest income
Foreign exchange loss
Loss from continuing operations before taxation
Income tax
Net loss from continuing operations
Discontinued operations
Net income from discontinued operations, net of tax
Net income
Other comprehensive loss
Item that may be subsequently reclassified to profit or loss
Foreign currency translation adjustment Total comprehensive income / (loss)
Income / (loss) per share
Basic and diluted from continuing operations Basic from discontinued operations Diluted from discontinued operations
Three months ended
June 30,
2022 | 2021 |
$ | $ |
1,566,894 87,768
(1,566,894) (87,768)
-
(523)
30,291-
(1,597,185) (87,245)
--
(1,597,185) (87,245)
34,115,519 114,248
32,518,334 27,003
(367,585) (53,834)
32,150,749 (26,831)
- (0.00)
- 0.00
- 0.00
Six months ended
June 30,
2022 | 2021 |
$ | $ |
1,750,160 182,846
(1,750,160) (182,846)
-
(1,152)
30,291-
(1,780,451) (181,694)
--
(1,780,451) (181,694)
34,289,278 189,473
32,508,827 7,779
(344,430) (100,514)
32,164,397 (92,735)
(0.01) (0.01)
1.26 0.00
1.25 0.00
See Accompanying Notes to Interim Condensed Consolidated Financial Statements
3
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Noble Iron Inc. published this content on 30 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2022 21:39:12 UTC.