COMMANDER RESOURCES LTD. Condensed Consolidated Interim Financial Statements
FOR THE THREE MONTHS ENDED
MARCH 31, 2023 AND 2022
(Unaudited - Prepared by Management)
(Expressed in Canadian Dollars)
Notice of No Auditor Review
In accordance with National Instrument 51-102, the Company discloses that the accompanying condensed interim consolidated financial statements have been prepared by and are the responsibility of the Company's management. They have been reviewed and approved by the Company's Audit Committee and the Board of Directors.
The Company's independent auditor has not performed a review of these condensed consolidated interim financial statements in accordance with standards established by the Canadian Professional Accountants of Canada.
COMMANDER RESOURCES LTD.
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION (EXPRESSED IN CANADIAN DOLLARS)
AS AT
March 31, | December 31, | ||
2023 | 2022 | ||
Note | $ | $ | |
ASSETS | |||
Current assets | |||
Cash and cash equivalents | 240,874 | 249,263 | |
Receivables | 13 | 6,582 | 195,487 |
Prepaid expenses | 21,725 | 27,376 | |
Marketable securities | 3 | 280,820 | 274,980 |
550,001 | 747,106 | ||
Non-current assets | |||
Reclamation bonds | 4 | 28,000 | 28,000 |
Exploration and evaluation assets | 4 | 112,329 | 112,329 |
Property and equipment | 5 | 76,879 | 87,221 |
217,208 | 227,550 | ||
TOTAL ASSETS | 767,209 | 974,656 | |
LIABILITIES | |||
Current liabilities | |||
Accounts payable and accrued liabilities | 75,385 | 133,441 | |
Advances from optionees | 4(d),(i) | 128,269 | 150,012 |
Lease liability | 5 | 33,034 | 32,063 |
236,688 | 315,516 | ||
Lease liability | 5 | 11,240 | 19,872 |
247,928 | 335,388 | ||
SHAREHOLDERS' EQUITY | |||
Share capital | 8 | 41,766,545 | 41,766,545 |
Reserves | 8 | 463,824 | 475,336 |
Accumulated other comprehensive loss | (2,698,369) | (2,737,749) | |
Deficit | (39,012,719) | (38,864,864) | |
519,281 | 639,268 | ||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 767,209 | 974,656 | |
Nature of operations and going concern | 1 | ||
Approved on behalf of the Board of Directors on May 23, 2023: | |||
"Eric Norton" | "Brandon Macdonald" | ||
Director | Director |
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
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COMMANDER RESOURCES LTD.
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF LOSS AND COMPREHENSIVE LOSS (EXPRESSED IN CANADIAN DOLLARS)
Three months ended | |||
March 31, | |||
2023 | 2022 | ||
Note | $ | $ | |
Expenses | |||
Administration | 6,602 | 5,084 | |
Consulting fees | 9 | 34,500 | 34,500 |
Salary and benefits | 9 | 40,535 | 40,417 |
Professional fees | 12,059 | 9,689 | |
Filing fees and transfer agent | 10,017 | 10,065 | |
Investor and shareholder relations | 39,947 | 26,942 | |
Exploration and evaluation expenditures | 4 | 22,790 | 21,645 |
Project evaluation | 3,589 | 7,162 | |
Amortization | 5 | 10,342 | 10,981 |
Finance costs | 5 | 1,482 | 471 |
Share-based compensation | 8 | 488 | 1,679 |
(182,351) | (168,635) | ||
Other income (expenses) | |||
Cost recoveries on exploration and evaluation assets | 4(i) | 25,000 | 39,500 |
Interest and management fee income | 4(d) | 1,279 | 220 |
Foreign exchange (loss) gain | (3,783) | 42 | |
Loss for the period | (159,855) | (128,873) | |
Other comprehensive income (loss) | |||
Item that will not be reclassified to profit or loss | |||
Change in fair value of marketable securities at FVOCI | 3 | 39,380 | (135,160) |
Loss and comprehensive loss for the period | (120,475) | (264,033) | |
Weighted average number of common shares outstanding | |||
Basic and diluted # | 39,546,995 | 37,741,825 | |
Basic and diluted loss per common share $ | (0.00) | (0.00) |
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
Page 4 of 18
COMMANDER RESOURCES LTD.
CONDENSED CONSOLIDATED INERIM STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (EXPRESSED IN CANADIAN DOLLARS)
Accumulated other | Total | |||||
Number | Share | comprehensive | shareholders' | |||
of Shares | capital | Reserves | Loss | Deficit | equity | |
# | $ | $ | $ | $ | $ | |
December 31, 2022 | 39,694,896 | 41,766,545 | 475,336 | (2,737,749) | (38,864,864) | 639,268 |
Share-based compensation | - | - | 488 | - | - | 488 |
Reclassification on expiry of warrants | - | - | (12,000) | - | 12,000 | - |
Fair value adjustment on maketable securities | - | - | - | 39,380 | 39,380 | |
Loss for the period | - | - | - | - | (159,855) | (159,855) |
March 31, 2023 | 39,694,896 | 41,766,545 | 463,824 | (2,698,369) | (39,012,719) | 519,281 |
December 31, 2021 | 39,453,896 | 41,746,545 | 448,582 | (2,105,234) | (38,231,588) | 1,858,305 |
Share-based compensation | - | - | 1,679 | - | - | 1,679 |
Fair value adjustment on maketable securities | - | - | - | (135,160) | - | (135,160) |
Loss for the period | - | - | - | - | (128,873) | (128,873) |
March 31, 2022 | 39,453,896 | 41,746,545 | 450,261 | (2,240,394) | (38,360,461) | 1,595,951 |
The accompanying notes are an integral part of the condensed consolidated interim financial statements.
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Commander Resources Ltd. published this content on 26 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 May 2023 01:05:47 UTC.
