NV GOLD CORPORATION NV GOLD CORPORATION
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
(Unaudited - Prepared by Management)
THREE MONTHS ENDED NOVEMBER 30, 2022 and 2021
(Expressed in Canadian Dollars)
NOTICE OF NO AUDITOR REVIEW OF
CONDENSED CONSOLIDATED
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 condensed consolidated interim financial statements, they must be accompanied by a notice indicating that an auditor has not reviewed the financial statements.
The accompanying unaudited condensed consolidated interim financial statements of 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 condensed consolidated interim financial statements in accordance with standards established by the Chartered Professional Accountants of Canada for a review of condensed consolidated interim financial statements by an entity's auditor.
NV GOLD CORPORATION
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION (Unaudited - Prepared by Management)
(Expressed in Canadian Dollars, unless otherwise specified)
AS AT
November 30, | August 31, | |||||||||
2022 | 2022 | |||||||||
ASSETS | ||||||||||
Current | ||||||||||
Cash | $ | 855,492 | $ | 1,291,948 | ||||||
Accounts receivable | 5,248 | 7,482 | ||||||||
Prepaid expenses | 149,331 | 65,470 | ||||||||
1,010,071 | 1,364,900 | |||||||||
Reclamation bonds (Note 5) | 182,596 | 177,229 | ||||||||
Exploration advances (Note 6) | 118,183 | 118,183 | ||||||||
Exploration and evaluation assets (Note 6) | 4,071,908 | 3,829,279 | ||||||||
$ | 5,382,758 | $ | 5,489,591 | |||||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||||
Current | ||||||||||
Accounts payable and accrued liabilities (Note 7) | $ | 30,187 | $ | 43,190 | ||||||
Due to related parties (Note 9) | 10,871 | 22,310 | ||||||||
41,058 | 65,500 | |||||||||
Shareholders' equity | ||||||||||
Share capital (Note 8) | 23,274,276 | 23,274,276 | ||||||||
Share-based payments reserve (Note 8) | 3,700,666 | 3,655,935 | ||||||||
Deficit | (21,633,242) | (21,506,120) | ||||||||
5,341,700 | 5,424,091 | |||||||||
$ | 5,382,758 | $ | 5,489,591 | |||||||
Nature of operations (Note 1) | ||||||||||
Basis of presentation (Note 2) | ||||||||||
Approved on behalf of the Board | ||||||||||
On January 27, 2023 | ||||||||||
"John Seaberg" | Director | "John Watson" | Director |
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
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NV GOLD CORPORATION
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF COMPREHENSIVE LOSS (Unaudited - Prepared by Management)
(Expressed in Canadian Dollars, unless otherwise specified)
Three Months | Three Months | ||||||
Ended | Ended | ||||||
November 30, | November 30, | ||||||
2022 | 2021 | ||||||
EXPENSES | |||||||
Advertising and promotion | $ | 47,068 | $ | 88,263 | |||
Bank charges and interest | 1,622 | 1,727 | |||||
Consulting | 89,315 | 10,000 | |||||
Insurance | 7,754 | 7,395 | |||||
Office and general | 3,787 | 2,958 | |||||
Professional fees | 27,295 | 18,766 | |||||
Property investigation | 1,090 | 55,795 | |||||
Registration and filing | 5,262 | 4,719 | |||||
Shareholder costs | 5,782 | 797 | |||||
Share-based compensation (Note 8) | 44,731 | - | |||||
Transfer agent | 1,231 | 1,420 | |||||
Travel and related | 7,310 | 295 | |||||
Loss before other items | (242,247) | (192,135) | |||||
OTHER ITEMS | |||||||
Foreign exchange gain | 33,998 | 37,710 | |||||
Gain on recovery of exploration and evaluation costs | 12,082 | - | |||||
Interest income | 5,195 | 717 | |||||
Other income | 63,850 | - | |||||
115,125 | 38,427 | ||||||
Loss and comprehensive loss for the period | $ | (127,122) | $ | (153,708) | |||
Basic and diluted loss per common share | $ | (0.01) | $ | (0.02) | |||
Weighted average number of shares outstanding - basic and diluted | 79,938,120 | 64,778,168 | |||||
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
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NV GOLD CORPORATION
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited - Prepared by Management)
(Expressed in Canadian Dollars, unless otherwise specified)
Share Capital | Share-based | Total | |||||||
Payments | Shareholders' | ||||||||
No. of Shares | Amount | Reserve | Deficit | Equity | |||||
Balance, August 31, 2021 | 79,938,120 | $ | 23,274,276 | $ | 3,487,649 | $ | (20,254,800) | $ | 6,507,125 |
Loss for the period | - | - | - | (265,792) | (265,792) | ||||
Balance, November 30, 2021 | 79,938,120 | $ | 23,274,276 | $ | 3,487,649 | $ | (20,520,592) | $ | 6,241,333 |
Share-based compensation | - | - | 168,286 | - | 168,286 | ||||
Loss for the period | - | - | - | (985,528) | (985,528) | ||||
Balance, August 31, 2022 | 79,938,120 | $ | 23,274,276 | $ | 3,487,649 | $ | (21,506,120) | $ | 5,424,091 |
Share-based compensation | |||||||||
Loss for the period | - | - | - | (127,122) | (127,122) | ||||
Balance, November 30, 2022 | 79,938,120 | $ | 23,274,276 | $ | 3,487,649 | $ | (21,633,242) | $ | 5,296,969 |
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
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NV Gold Corporation published this content on 28 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 January 2023 01:53:00 UTC.
