GOLD RUSH CARIBOO CORP.
INTERIM CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS
September 30, 2020
NOTICE OF NO AUDITORS' REVIEW OF INTERIM FINANCIAL STATEMENTS
The accompanying unaudited interim condensed consolidated financial statements of Gold Rush Cariboo Corp. 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 Chartered Professional Accountants of Canada for a review of interim financial statements by an entity's auditors
GOLD RUSH CARIBOO CORP.
Condensed Interim Consolidated Statements of Loss and Comprehensive Loss
For the Three Months ended September 30, 2020 and 2019
(Unaudited - expressed in Canadian dollars)
September 30, | June 30, | ||
Notes | 2020 | 2020 | |
Assets | 8,388 | $ | |
Cash | 4 | 7,547 | |
GST/HST receivable | 5 | 32,961 | 26,637 |
Prepaid expenses and deposits | 6 | 6,300 | 6,300 |
47,649 | 40,484 | ||
Property, plant and equipment | 9 | 1 | 1 |
Mining Equipment | 9 | 1 | 1 |
Mining property & rights acquisition costs | 10 | 2 | 2 |
Right-of-Use Asset | 7 | 61,218 | 70,400 |
Total Assets | 108,871 | 110,889 | |
Liabilities | 162,400 | ||
Accounts payable and accrued liabilities | 83,361 | ||
Due to consultants | 11,12 | 269,683 | 269,683 |
Due to other companies | 11,12 | 335,770 | 350,190 |
Interest payable | 13 | 138,385 | 126,986 |
Current portion of lease liability | 8,17 | 37,520 | 36,780 |
Current portion of convertible promissory note payable | 13 | 2,250,000 | 2,250,000 |
3,193,758 | 3,117,001 | ||
Lease liability | 8,17 | 26,728 | 36,390 |
Total Liabilities | 3,220,486 | 3,153,391 | |
Shareholders' Equity | 7,342,715 | ||
Share capital | 14 | 7,342,715 | |
Equity component of convertible promissory note | 13 | 984,700 | |
payable | 984,700 | ||
Warrant reserve | 14(b,d) | 1,170,761 | 1,170,761 |
Share-based payments reserve | 14(c,e) | 453,754 | 453,754 |
Contributed surplus | 14(f) | 2,697,043 | 2,697,043 |
Deficit | (15,760,588) | (15,691,475) | |
(3,111,615) | (3,042,502) | ||
Total Liabilities and Shareholders' Equity | 108,871 | 110,889 | |
Nature of Operations and Going Concern (Note 1) | |||
Commitments (Note 17) |
Approved by the Board | "Aleem Nathwani" | "David Hergenhein" |
Director (Signed) | Director (Signed) |
The accompanying notes are integral to these condensed interim consolidated financial statements
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GOLD RUSH CARIBOO CORP.
Condensed Interim Consolidated Statements of Loss and Comprehensive Loss
For the Three Months ended September 30, 2020 and 2019
(Unaudited - expressed in Canadian dollars)
September 30, | September 30, | ||
Note | 2020 | 2019 | |
Expenses | $ | $ | |
- | 504 | ||
Amortization expense on PPE, mining properties & rights | 9 | ||
Amortization expense on right-of-use asset | 7 | 9,183 | - |
Consulting fees | 11 | 30,000 | 43,000 |
Exploration and evaluation expenditures | 18 | - | 72,589 |
Filing and transfer fees | 2,247 | 9,929 | |
General and administrative | 2,583 | 21,189 | |
Interest on convertible promissory note | 13 | 11,399 | 47,425 |
Interest on leased liability | 8 | 1,404 | - |
Investor relations | 4,061 | 3,100 | |
Professional fees | 8,236 | 8,141 | |
69,113 | 205,877 | ||
Net Loss and Comprehensive Loss for the period | (69,113) | (205,877) | |
Basic and diluted loss per common share | (0.00) | (0.00) | |
Weighted average number of common shares | 39,632,411 | 39,632,411 | |
outstanding |
The accompanying notes are integral to these condensed interim consolidated financial statements
2
GOLD RUSH CARIBOO CORP.
Condensed Interim Consolidated Statements of Changes in Shareholder's Equity
For the Three Months ended September 30, 2020 and 2019
(Unaudited - expressed in Canadian dollars)
Equity | Share-based | Total | ||||||||
Number of | Component | Warrants | Payments | Contributed | Accumulated | Shareholders' | ||||
Note | Shares | Amount | of Convertible | Reserve | Reserve | Surplus | Deficit | Equity | ||
$ | $ | $ | $ | $ | $ | $ | ||||
Balance, June 30, 2019 | 39,632,411 | 7,342,715 | 984,700 | 1,183,961 | 453,754 | 2,683,843 | (14,447,813) | (1,798,840) | ||
Net Loss for the period | - | - | - | - | - | - | (205,877) | (205,877) | ||
Balance, September 30, 2019 | 39,632,411 | 7,342,715 | 984,700 | 1,183,961 | 453,754 | 2,683,843 | (14,653,690) | (2,004,717) | ||
. | ||||||||||
Balance, June 30, 2019 | 39,632,411 | 7,342,715 | 984,700 | 1,170,761 | 453,754 | 2,697,043 | (15,691,475) | (3,042,502) | ||
Net Loss for the period | - | - | - | - | - | - | (69,113) | (69,113) | ||
. | ||||||||||
Balance on September 30, 2020 | 39,632,411 | 7,342,715 | 984,700 | 1,170,761 | 453,754 | 2,697,043 | (15,760,588) | (3,111,615) |
The accompanying notes are integral to these condensed interim consolidated financial statements
3
GOLD RUSH CARIBOO CORP.
Condensed Interim Consolidated Statements of Cash Flows
For the Three Months ended September 30, 2020 and 2019
(Unaudited - expressed in Canadian dollars)
September 30, | September 30, | ||
Note | 2020 | 2019 | |
Cash provided by (used in) | $ | $ | |
Operating Activities | |||
Net loss | (69,113) | (205,877) | |
Items not affecting cash | |||
Amortization expense - PPE & mining rights | 9 | - | 504 |
Amortization - right-of-use asset | 7 | 9,183 | - |
(59,930) | (205,373) | ||
Net changes in non-cash working capital | |||
Prepaid expenses and deposits | 6 | - | (6,300) |
Accounts payable & accrued liabilities | 79,037 | 134,652 | |
Interest payable | 13 | 11,399 | (19,072) |
GST/HST receivable | 5 | (6,324) | - |
Cash (used in) operating activities | 24,182 | (96,093) | |
Financing Activities | |||
Stock options exercised | - | ||
Due to other companies | 12 | (14,419) | 20,000 |
Lease payments | 8 | (8,922) | |
Advances to consultants | 51,756 | ||
Cash provided by financing activities | (23,341) | 71,756 | |
Net change in cash | 841 | (24,337) | |
Cash, beginning of year | 7,547 | 30,078 | |
Cash, end of year | 8,388 | 5,741 | |
The accompanying notes are integral to these consolidated financial statements
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Allied Copper Corp. published this content on 13 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 December 2021 22:17:07 UTC.