STINGER RESOURCES INC. Stinger Resources Inc.
Interim Financial Statements
June 30, 2021
(unaudited - prepared by management) (Expressed in Canadian dollars)
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 financial statements have not been reviewed by an auditor.
The accompanying unaudited interim financial statements of Stinger Resources 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 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.
Stinger Resources Inc.
Interim Statements of Financial Position
As at June 30, 2021 and December 31, 2020
(unaudited - prepared by management) (expressed in Canadian dollars)
2021 | 2020 | |
$ | $ | |
Assets | ||
Current assets | 1,518,297 | - |
Cash | ||
Prepaid expenses and deposits (note 3) | 500 | - |
Receivable (note 4) | 49,417 | 1 |
Marketable securities (note 5) | 3,459,233 | - |
5,027,447 | 1 | |
Property and equipment (note 6) | 497,449 | - |
Exploration and evaluation assets (notes 7 and 14) | 4,015,066 | - |
9,539,962 | 1 | |
Liabilities | ||
Current liabilities | ||
Accounts payable and accrued liabilities (note 8) | 3,880 | - |
Loan payable (note 15) | 58,108 | - |
61,988 | - | |
Shareholders' Equity | ||
Share capital (note 9) | 10,776,805 | 1 |
Reserves (note 9) | 191,109 | - |
Deficit | (1,489,940) | - |
9,477,974 | 1 | |
9,539,962 | 1 | |
Going concern (note 1) | ||
Commitments (note 14) |
See accompanying notes to these interim financial statements.
Approved by the Board of Directors
"Darren R. Blaney" | Director ____"Robert N. Edwards"____________Director |
Stinger Resources Inc.
Interim Statements of Income and Comprehensive Income (Loss)
For the periods ended June 30,
(unaudited - prepared by management) (expressed in Canadian dollars)
Expenses
Advertising and promotion Business development and property
investigation Corporate communications Depreciation on equipment (note 6) Filing and transfer agent fees Management fees (note 13)
Office and administration
Professional fees
Stock-based compensation (note 11)
Other
Gain (loss) on sale of investments Loss sale of equipment
Gain on sale of exploration and evaluation assets
Net loss and total comprehensive loss
Basic and diluted loss per common share
Basic and diluted weighted average number of common shares outstanding
Three months ended | Six months ended | ||
June 30 | June 30 | ||
2021 | 2020 | 2021 | 2020 |
$ | $ | $ | $ |
6,270 | - | 12,540 | - |
6,409 | - | 14,809 | - |
1,575 | - | 1,760 | - |
18,165 | - | 32,073 | - |
8,416 | - | 40,114 | - |
78,750 | - | 157,500 | - |
21,534 | - | 34,431 | - |
250 | - | 11,250 | - |
- | - | 191,109 | - |
(141,369) | - | (495,586) | - |
(994,354) | - | (994,354) | - |
- | - | - | |
- | - | - | |
(1,135,723) | - | (1,489,940) | - |
0.02 | - | 0.05 | - |
45,447,354 | - | 31,308,413 | - |
See accompanying notes to these interim financial statements.
Stinger Resources Inc.
Interim Statements of Changes in Equity
For the periods ended June 30,
(unaudited - prepared by management) (expressed in Canadian dollars)
Share capital | Reserves | ||||||
Number of | Share-based | ||||||
Amount | payment | Deficit | Equity | ||||
shares | reserve | ||||||
$ | $ | $ | $ | ||||
Balance as at January 1, 2021 | 1 | 1 | - | - | 1 | ||
Shares issued: | |||||||
Shares issued pursuant to plan of | 45,000,388 | 10,702,073 | - | - | 10,702,073 | ||
arrangement (note 9) | |||||||
Warrant exercise (note 9) | 525,293 | 74,165 | - | - | 74,165 | ||
Options exercised (note 9) | 11,324 | 566 | 191,109 | - | 566 | ||
Valuation of options granted (note 9) | - | - | 191,109 |
Net and comprehensive income Balance as at June 30, 2021 Balance as at January 1, 2020
Shares issued:
Net and comprehensive loss Balance as at June 30, 2020
- | - | - | (1,489,940) | (1,489,940) |
45,537,006 | 10,776,805 | 191,109 | (1,489,940) | 9,477,974 |
- | - | - | - | - |
- | - | - | - | - |
- | - | - | - | - |
- | - | - | - | - |
See accompanying notes to these interim financial statements.
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Stinger Resources Inc. published this content on 21 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 March 2022 21:19:40 UTC.
