RIVAL TECHNOLOGIES INC.
UNAUDITED FINANCIAL STATEMENTS
For the Year Ended December 31, 2021 and 2020
(Expressed in USD Dollars)
Statement of Financial Position (Expressed in Canadian Dollars)
December 31, 2021
December 31, 2020
Assets
Current assets
Cash and cash equivalent Prepaid expenses and deposits
$
106,908 6,694
$
291 -
Total Assets
Liabilities and Shareholder's Deficit
Current liabilities
Accounts payable and accrued liabilities Due to related party (Note 6)Shareholder's deficitCommon stock, 200,000,000 shares authorized, with par value $0.001, 47,532,854 and 46,282,854 shares issued and outstanding Share issuance surplus
Accumulated deficit Total shareholder's deficit
113,602
3,100 1,103,472
291
11,300 1,085,880
1,106,572 1,097,180
10,797,847 11,043,206
1,012,122 (12,802,939)
516,763 (12,656,858)
(992,970)
(1,096,889
Total liabilities and shareholder's deficit
Nature and Continuance of Operations (Note 1)
Subsequent Events (Note 11)
On behalf of the Board of Directors:
Director (signed by) "Perry Guglielmi"
113,602
The accompanying notes are an integral part of these unaudited financial statements.
291
Unaudited Statement of Operations and Comprehensive Loss (Expressed in USD Dollars)
December 31, 2021 | ||
$ | ||
Expenses | ||
Bank charges | 552 | 3 |
Legal fess | 6,549 | 127 |
Accounting fees | 22,252 | 1,750 |
General & Admin | 268 | 152 |
Registration & filing fees | 10,460 | 9,050 |
(146,081) | (11,082) | |
Loss and comprehensive loss | (146,081) | (11,082) |
Loss per common shares - basic and diluted | (0.00) | (0.00) |
Weighted average number of common shares outstanding | 46,687,266 | 46,282,854 |
December 31, 2020
$
The accompanying notes are an integral part of these unaudited financial statements.
Unaudited Statement of Changes in Shareholder's Deficit (Expressed in USD Dollars)
Number of | Share Capital | Contributed | Accumulated | Total | |
Shares | surplus | Deficit | |||
$ | $ | $ | $ | ||
Balance, December 31, 2019 | 46,282,854 | 11,043,206 | 516,763 | (12,645,776) | (1,085,807 |
Net loss | - | - | - | (11,082) | (11,082) |
Balance, December 31, 2020 | 46,282,854 | 11,043,206 | 516,763 | (12,656,858) | (1,096,889) |
Share issuance for cash at $0.20 per share | 1,250,000 | 1,250 | 248,750 | - | 250,000 |
Net measurement of warrants granted | (246,609) | 246,609 | - | ||
Net loss | - | - | - | (146,081) | (146,081) |
Balance, December 31, 2021 | 47,532,854 | 10,797,847 | 1,012,122 | (12,802,939) | (992,969) |
The accompanying notes are an integral part of these unaudited financial statements.
Unaudited Statements of Cash Flows (Expressed in USD Dollars)
Year Ended | Year Ended | |
December 31, 2021 | December 31, 2020 | |
$ | $ | |
Cash flows used in Operating Activities | ||
Net loss for the period | (146,081) | (11,082) |
Changes in non-cash operating working capital: | ||
Prepaid and deposit | (6,694) | 407 |
Accounts payable and accrued liabilities | 1,300 | - |
Net cash used in operating activities | (151,475) | 218 |
Cash flows used in Investing Activities | ||
Acquisitions of exploration and evaluation assets | ||
Net cash used in investing activities | ||
Cash flows from financing activities | ||
Net proceeds from a private placement | 250,000 | - |
Proceeds from a related party | 8,092 | (5) |
258,092 | (5) | |
Net cash provided by financing activities | ||
Increase in cash during the period | 106,617 | 213 |
Cash, beginning of period | 291 | 78 |
Cash, end of period | 106,908 | 291 |
The accompanying notes are an integral part of these unaudited financial statements.
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Rival Technologies Inc. published this content on 28 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 March 2022 20:10:13 UTC.