TELO GENOMICS CORP. Condensed Consolidated Interim Financial Statements (Expressed in Canadian Dollars)
Telo Genomics Corp.
For the Three Months Ended September 30, 2022 and 2021 (unaudited)
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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 an auditor has not reviewed the financial statements.
The accompanying unaudited 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 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 auditor.
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Telo Genomics Corp.
Condensed Consolidated Interim Statements of Financial Position (Unaudited)
(Expressed in Canadian dollars)
As at September 30, | As at June 30, | ||
Note | 2022 | 2022 | |
Assets | $ | $ | |
Current assets | |||
Cash and cash equivalents | 6 | 2,125,719 | 2,692,965 |
Amounts receivable | 30,431 | 37,977 | |
Prepaid expenses | 29,540 | 55,606 | |
2,185,690 | 2,786,548 | ||
Non-current assets | |||
Property and equipment | 7 | 56,472 | 30,312 |
Intangible asset | 8 | 16,371 | 16,371 |
72,843 | 46,683 | ||
Total assets | 2,258,533 | 2,833,231 | |
Liabilities and Equity | |||
Current liabilities | |||
Accounts payable and accrued liabilities | 11 | 167,145 | 190,072 |
Long-term loan | 9 | 40,000 | 40,000 |
Total liabilities | 207,145 | 230,072 | |
Equity | |||
Share capital | 10 | 19,105,745 | 19,105,745 |
Contributed surplus | 10 | 5,858,893 | 5,794,859 |
Deficit | (22,913,250) | (22,297,445) | |
Total equity | 2,051,388 | 2,603,159 | |
Total liabilities and equity | 2,258,533 | 2,833,231 |
Approved on behalf of the board of directors | |
/s/ Dr. Sabine Mai | /s/ Hugh Rogers |
Director | Director |
Going concern (Note 4) |
See accompanying notes to the consolidated financial statements.
Telo Genomics Corp.
Condensed Consolidated Interim Statements of Loss and Comprehensive Loss (Unaudited)
(Expressed in Canadian dollars)
For the three | For the three | ||
months | months | ||
ended | ended | ||
Notes | September 30, | September 30, | |
2022 | 2021 | ||
Expenses | $ | $ | |
General and administrative | 11,12 | 255,768 | 224,301 |
Research and development | 11,12 | 360,037 | 254,642 |
(615,805) | (478,943) | ||
Net loss and comprehensive loss | (615,805) | (478,943) | |
Basic and diluted loss per share | (0.01) | (0.01) | |
Weighted average number of common | |||
shares used in computing basic | |||
and diluted loss per share | 59,424,433 | 57,346,261 |
See accompanying notes to the consolidated financial statements.
Telo Genomics Corp.
Condensed Consolidated Interim Statements of Changes in Equity (Unaudited)
(Expressed in Canadian dollars)
Number of | Share | Contributed | Deficit | Total | |
Shares | capital | Surplus | |||
$ | $ | $ | $ | ||
Balance, June 30, 2022 | 59,424,433 | 19,105,745 | 5,794,859 | (22,297,445) | 2,603,159 |
Share-based compensation | - | - | 64,034 | - | 64,034 |
Net loss for the period | - | - | - | (615,805) | (615,805) |
Balance, September 30, 2022 | 59,424,433 | 19,105,745 | 5,858,893 | (22,913,250) | 2,051,388 |
Number of | Share | Contributed | Deficit | Total | |
Shares | capital | Surplus | |||
$ | $ | $ | $ | ||
Balance, June 30, 2021 | 55,542,893 | 18,234,410 | 5,638,139 | (20,186,991) | 3,685,558 |
Private placement: | |||||
Gross proceeds | 390,000 | 195,000 | - | - | 195,000 |
Finders fees - cash | - | (13,650) | - | - | (13,650) |
Finders fees - warrants | - | (5,312) | 5,312 | - | - |
Other share issuance costs | - | (3,011) | - | - | (3,011) |
Warrant exercises | 1,557,260 | 311,452 | - | - | 311,452 |
Share-based compensation | - | - | 27,230 | - | 27,230 |
Net loss for the period | - | - | - | (478,943) | (478,943) |
Balance, September 30, 2021 | 57,490,153 | 18,718,889 | 5,670,681 | (20,665,934) | 3,723,636 |
See accompanying notes to the consolidated financial statements.
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Telo Genomics Corp. published this content on 17 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 November 2022 20:40:09 UTC.
