Rogue Resources Inc.
Consolidated Interim Financial Statements
Three Months Ended July 31, 2021 and 2020
(Expressed in Canadian Dollars)
NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS
The accompanying unaudited consolidated interim financial statements of Rogue Resources Inc. ("the Company") for the three months ended July 31, 2021, have been prepared by management and have not been reviewed by the Company's external independent auditors.
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Rogue Resources Inc.
Consolidated Financial Statements
Three months ended July 31, 2021 and 2020 (Unaudited - expressed in Canadian Dollars)
Table of Contents | Page |
Consolidated Statements of Financial Position | 4 |
Consolidated Statements of Operations and Comprehensive Income (Loss) | 5 |
Consolidated Statements of Changes in Equity | 6 |
Consolidated Statements of Cash Flows | 7 |
Notes to the Consolidated Financial Statements | 8 - 45 |
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Rogue Resources Inc.
Consolidated Statements of Financial Position Three Months Ended July 31, 2021 and 2020 (Unaudited - expressed in Canadian dollars)
As at July 31, | As at April 30, | ||
2021 | 2021 | ||
ASSETS | |||
Current assets | |||
Cash | $100,951 | $128,401 | |
Marketable securities | 7 | 241,614 | 5,222 |
Accounts receivable | 268,780 | 167,291 | |
Prepaid expenses | 3,079 | 4,845 | |
Tax recoverable | 19 | - | 25,557 |
Inventory | 11 | 117,756 | 101,581 |
Total Current Assets | 732,180 | 432,897 | |
Non-current assets | |||
Investment in associates | 8, 12 | 1,861,614 | 1,882,386 |
Exploration and evaluation assets | 6,8,14,15 | 10,807,651 | 10,796,408 |
Right-of-use assets | 9 | 1,169,986 | 1,202,614 |
Property, plant and equipment | 10 | 91,578 | 37,795 |
Producing assets | 6, 10 | 2,797,142 | 2,756,214 |
Total Assets | $17,460,151 | 17,108,314 | |
LIABILITIES | |||
Current Liabilities | |||
Accounts payable and accrued liabilities | $367,206 | $284,604 | |
Tax payable | 33,033 | - | |
Current portion of lease liability | 9 | 314,206 | 323,706 |
Due to related parties | 19 | 648,736 | 647,956 |
Loan payable | 15 | 1,788,218 | 1,773,522 |
Total Current Liabilities | 3,151,399 | 3,029,788 | |
Non-current liabilities | |||
Vendor mortgages | 14 | 700,000 | 700,000 |
Lease liability | 9 | 678,569 | 748,319 |
Government assistance | 16 | 60,000 | 60,000 |
Total Liabilities | 4,589,968 | 2,764,585 | |
EQUITY | |||
Share capital | 17 | 50,372,364 | 50,372,364 |
Reserves | 17 | 10,679,758 | 10,666,052 |
Accumulated other comprehensive income | 7 | 8,190 | 4,298 |
Non-controlling interest | 18 | 200,590 | 202,188 |
Deficit | (48,390,718) | (48,674,694) | |
Total Equity | 12,870,184 | 12,570,207 | |
Total Liabilities & Equity | $17,460,151 | $17,108,314 | |
These consolidated financial statements were approved and authorized for issue by the Board of | |||
Directors on August 26, 2021. They are signed on the Company's behalf by: | |||
(Signed) "Sean Samson" | (Signed) "Christopher Berlet" | ||
Director | Director | ||
The accompanying notes are an integral part of these consolidated financial statements. |
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Rogue Resources Inc.
Consolidated Statements of Operations and Comprehensive Loss Three Months Ended July 31, 2021 and 2020
(Unaudited - expressed in Canadian dollars)
Three months ended July 31, | |||||
Note | 2021 | 2020 | |||
Revenue | 1 | $573,421 | $ | - | |
Less: | |||||
Cost of goods sold | (264,650) | - | |||
Depreciation and depletion | 9,10 | (57,713) | - | ||
Gross Profit | 251,058 | - | |||
Expenses: | |||||
Compensation and benefits | 19 | 78,548 | (23,225) | ||
Consulting fees - related parties | 19 | 3,125 | - | ||
Depreciation | - | 60,021 | |||
Financing fees | 15 | 3,067 | 9,201 | ||
Interest and accretion expense | 9,15 | 75,261 | 69,279 | ||
Investor relations, promotion and product marketing | 1,536 | 1,874 | |||
Office expense and miscellaneous | 7,116 | 12,188 | |||
Professional fees | 19 | 39,493 | (6,000) | ||
Regulatory and stock transfer fees | 1,646 | 1,089 | |||
Stock based compensation | 17,19 | 13,706 | - | ||
Total Expenses Before Items Below | 223,498 | 124,427 | |||
Profit Before Other Income and Income Taxes | 27,560 | (124,427) | |||
Gain on Property | 8 | 275,600 | - | ||
Loss from Investment in Associates | 8,12 | (20,772) | - | ||
Deferred Income Tax Recovery | 24 | - | - | ||
Net Income/(Loss) For The Year | 282,388 | (124,427) | |||
Other Comprehensive Income (Loss) | |||||
Unrealized gain on marketable securities | 7 | 3,892 | 1,220 | ||
Comprehensive Income For The Year | $ | 286,280 | $ | (123,207) | |
Attributable to: | |||||
Non-controlling interest | 18 | (1,597) | - | ||
Equity shareholders of the Company | 287,877 | (123,207) | |||
286,280 | (123,207) | ||||
Basic and Diluted Earnings/(Loss) Per Share | 17 | $ | 0.01 | $ | (0.00) |
Weighted Average Number of Shares Outstanding | |||||
Basic | 17 | 35,148,299 | 34,948,299 | ||
Diluted | 17 | 36,099,847 | 34,948,299 | ||
The accompanying notes are an integral part of these consolidated financial statements.
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Rogue Resources Inc. published this content on 29 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 September 2021 12:01:10 UTC.