Desert Gold Ventures : Financial Report (DAU 2024 Annual FS filing apr 29)

About this update from Desert Gold Ventures Inc.

[{"type":"text","content":"\n \n \n DESERT GOLD VENTURES INC.\n \n \n CONSOLIDATED FINANCIAL STATEMENTS\n \n \n YEARS ENDED DECEMBER 31, 2024 AND 2023\n \n \n (Expressed in US Dollars)\n \n \n INDEPENDENT AUDITOR'S REPORT\n \n \n \n To the Shareholders and the Board of Directors of Desert Gold Ventures Inc.\n \n \n \n Opinion\n \n \n \n We have audited the consolidated financial statements of Desert Gold Ventures Inc. (the \"Company\"), which comprise the consolidated statements of financial position as at December 31, 2024 and 2023, and the consolidated statements of loss and comprehensive loss, consolidated statements of cash flows, and consolidated statements of change in shareholders' equity (deficiency) for the years ended, and notes to the consolidated statements, including a summary of significant accounting policies (collectively referred to as the \"financial statements\").\n \n \n In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company as at December 31, 2024 and 2023, and its financial performance and its consolidated cash flows for the years then ended in accordance with International Financial Reporting Standards (\"IFRS\") as issued by the International Accounting Standards Board.\n \n \n Basis for Opinion\n \n \n \n We conducted our audit in accordance with Canadian generally accepted auditing standards (\"Canadian GAAS\"). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in Canada, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.\n \n \n Material Uncertainty Related to Going Concern\n \n \n \n We draw attention to Note 1 in the financial statements, which indicates that the Company incurred significant operating losses since inception and has an accumulated deficit of $58,105,137 as at December 31, 2024. For the year ended December 31, 2024, the Company incurred a net loss and comprehensive loss of $2,510,815. As stated in Note 1, these events or conditi...

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