SAN LORENZO GOLD CORP.
Condensed Interim Consolidated Financial Statements
For the six and three months ended June 30, 2022, and 2021
NOTICE OF NO AUDITOR REVIEW In accordance with National Instrument 51-102 Section 4.3(3)(a) released by the Canadian Securities Administrators, the Company discloses that its auditors have not reviewed the Unaudited Condensed Interim Consolidated Financial Statements for the six and three months ended June 30, 2022, and 2021.
SAN LORENZO GOLD CORP.
Unaudited Condensed Interim Consolidated Statements of Financial Position
(Canadian Dollars)
As at | Notes | June 30, | December 31, | ||
2022 | 2021 | ||||
ASSETS | |||||
Current | |||||
Cash | $ | 137,581 | $ | 690,355 | |
Receivables | 27,228 | 22,359 | |||
Total current assets | 164,809 | 712,714 | |||
Mineral properties | 4 | 3,568,958 | 2,325,421 | ||
Total Assets | $ | 3,733,767 | $ | 3,038,135 | |
LIABILITIES | |||||
Current | |||||
Trade and other payables | 9 | $ | 12,653 | $ | 99,514 |
Due to shareholder | - | 34,161 | |||
Due to related parties | 9 | 3,205 | 2,693 | ||
Notes payable | 5 | 978,676 | 953,088 | ||
Total current liabilities | $ | 994,534 | $ | 1,089,456 | |
Total Liabilities | $ | 994,534 | $ | 1,089,456 | |
SHAREHOLDERS' EQUITY | |||||
Share capital | 7 | $ | 4,647,845 | $ | 3,262,895 |
Contributed surplus | 3,078,717 | 2,794,686 | |||
Accumulated other comprehensive loss | (780,408) | (372,048) | |||
Deficit | (4,206,921) | (3,736,854) | |||
Total shareholders' equity (deficit) | $ | 2,739,233 | $ | 1,948,679 | |
Total liabilities and shareholders' equity (deficit) | $ | 3,733,767 | $ | 3,038,135 |
Signed "Kevin R. Baker QC."
Kevin Baker
Signed "Kelly Kimbley"
Kelly Kimbley
The accompanying notes are an integral part of these condensed interim consolidated financial statements
1
SAN LORENZO GOLD CORP.
Condensed Interim Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) (Unaudited)
(Canadian Dollars)
Three months ended | Six months ended | |||||||
June 30, | June 30, | |||||||
Notes | 2022 | 2021 | 2022 | 2021 | ||||
Expenses | ||||||||
General and administrative | $ | 132,125 | $ | 128,469 | $ | 255,482 | $ | 279,063 |
Unrealized loss (gain) on foreign exchange | (38,354) | 2,391 | (119,085) | 4,911 | ||||
Public company listing expense | 14,244 | - | 24,051 | |||||
Loan extension expense | 5 | 12,794 | - | 25,588 | ||||
Share-based compensation | 7e | 72,503 | - | 284,031 | - | |||
Interest | - | 14 | - | 119 | ||||
Total expenses | $ | 193,312 | $ | 130,874 | $ | 470,067 | $ | 284,093 |
Net income (loss) | $ | (193,312) | $ | (130,874) | $ | (470,067) | $ | (284,093) |
Other Ccmprehensive income (loss) | ||||||||
Foreign exchange translation adjustment | (461,855) | 172,512 | (408,360) | 115,720 | ||||
Net and Comprehensive Income | $ | (655,167) | $ | 41,638 | $ | (878,427) | $ | (168,373) |
Net income (loss) per share - basic and diluted | (0.01) | 0.00 | (0.02) | (0.00) | ||||
Weighted average number of shares outstanding | 7c | 56,249,887 | 48,523,368 | 56,249,887 | 48,523,368 |
The accompanying notes are an integral part of these condensed interim consolidated financial statements
2
SAN LORENZO GOLD CORP.
Condensed Interim Consolidated Statements of Changes in Equity (Deficit)
Unaudited
(Canadian Dollars)
Accumulated | |||||||||||
Other | |||||||||||
Share | Contributed | Comprehensive | |||||||||
Notes | Capital | Surplus | Income (Loss) | Deficit | Total Equity | ||||||
Balance, December 31, 2020 | $ | 3,190,395 | $ | 2,302,601 | $ | 4,354 | $ | (2,676,028) | $ | 2,821,322 | |
Shares issued to extend loan | 5 | 72,500 | - | - | - | 72,500 | |||||
Share-based compensation | - | 492,085 | - | - | 492,085 | ||||||
Net loss and comprehensive loss | - | - | (376,402) | (1,060,826) | (1,437,228) | ||||||
Balance, December 31, 2021 | $ | 3,262,895 | $ | 2,794,686 | $ | (372,048) | $ | (3,736,854) | $ | 1,948,679 | |
Private placement March 2022 | 7b | 1,120,000 | - | - | - | 1,120,000 | |||||
Private placement April 2022 | 7b | 315,000 | - | - | - | 315,000 | |||||
Share issuance costs | 7b | (50,050) | - | - | - | (50,050) | |||||
Share-based compensation | 7e | - | 284,031 | - | - | 284,031 | |||||
Net loss and comprehensive loss | (408,360) | (470,067) | (878,427) | ||||||||
Balance, June 30, 2022 | $ | 4,647,845 | $ | 3,078,717 | $ | (780,408) | $ | (4,206,921) | $ | 2,739,233 |
The accompanying notes are an integral part of these condensed interim consolidated financial statements
3
SAN LORENZO GOLD CORP.
Condensed Interim Consolidated Statements of Cash Flows For the six and three months ended June 30, 2022 (Canadian Dollars)
Three months ended | Six months ended | ||||||||
June 30, | June 30, | ||||||||
Notes | 2022 | 2021 | 2022 | 2021 | |||||
Cash provided by (used in) | |||||||||
OPERATING | |||||||||
Net loss and comprehensive loss | $ | (193,312) | $ | 41,638 | $ | (470,067) | $ | (168,373) | |
Add (deduct) items not affecting cash flow: | |||||||||
Other comprehensive income (loss) | - | (172,512) | - | (115,720) | |||||
Loan extension cost | 5 | 12,794 | - | 25,588 | - | ||||
Foreign exchange loss | (461,856) | 3,957 | (408,360) | 6,920 | |||||
Stock-based compensation | 7e | 72,503 | - | 284,031 | - | ||||
Trade and other payables | (31,874) | - | (86,861) | - | |||||
Other receivables | (2,935) | (220,998) | (4,869) | (220,507) | |||||
Cash flow used in operating activities | $ | (604,680) | $ | (347,915) | $ | (660,538) | $ | (497,680) | |
INVESTING | |||||||||
Paid exploration and evaluation expenditures | 4 | $ | (775,244) | $ | (88,213) | $ | (1,243,537) | $ | (88,213) |
Cash flow provided by (used in) investing activities | $ | (775,244) | $ | (88,213) | $ | (1,243,537) | $ | (88,213) | |
FINANCING | |||||||||
Advance from shareholder | $ | (78,362) | $ | 28,084 | $ | (33,649) | $ | - | |
Share issuance gross proceeds | 7b | 315,000 | - | 1,435,000 | - | ||||
Share issuance costs | 7b | (1,050) | - | (50,050) | |||||
Cash flow provided by financing activities | $ | 235,588 | $ | 28,084 | $ | 1,351,301 | $ | - | |
Increase (decrease) in cash | $ | (1,144,336) | $ | (408,044) | $ | (552,774) | $ | (585,893) | |
Cash, beginning of year | 1,281,917 | 1,435,791 | 690,355 | 1,728,810 | |||||
Cash, end of period | $ | 137,581 | $ | 1,027,747 | $ | 137,581 | $ | 1,142,917 |
The accompanying notes are an integral part of these condensed interim consolidated financial statements
4
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
San Lorenzo Gold Corp. published this content on 28 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 August 2022 20:43:38 UTC.