CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS | |
(Expressed in Canadian dollars) | |
FOR THE THREE MONTHS ENDED MARCH 31, 2021 | |
Index | Page |
Condensed Consolidated Interim Financial Statements | |
Notice to Reader | 2 |
Condensed Consolidated Interim Statements of Financial Position | 3 |
Condensed Consolidated Interim Statements of Loss and Comprehensive Loss | 4 |
Condensed Consolidated Interim Statements of Equity | 5 |
Condensed Consolidated Interim Statements of Cash Flows | 6 |
Notes to Condensed Consolidated Interim Financial Statements | 7 - 15 |
Notice to Reader:
These condensed consolidated interim financial statements of Carlin Gold Corporation (the "Company") have been prepared by management and reviewed by the Audit Committee and approved and authorized for issue by the Board of Directors of the Company. In accordance with National Instrument 51-102 released by the Canadian Securities Administrators, the Company discloses that its external auditors have not reviewed these condensed consolidated interim financial statements, notes to financial statements and the related quarterly Management Discussion and Analysis.
Condensed Consolidated Interim Statements of Financial Position As at March 31, 2021 and December 31, 2020
(Expressed in Canadian dollars)
March 31 | December 31 | |||
2021 | 2020 | |||
Assets | ||||
Current assets: | ||||
Cash | $ | 52,660 | $ | 73,878 |
Accounts receivable | 581 | 3,692 | ||
Marketable securities (Note 4) | 260,480 | 338,280 | ||
313,721 | 415,850 | |||
Exploration and evaluation properties (Note 5) | 1,854,428 | 1,852,225 | ||
$ | 2,168,149 | $ | 2,268,075 | |
Liabilities | ||||
Current liabilities: | ||||
Trade payables and accrued liabilities | $ | 37,842 | $ | 50,957 |
Other amounts due to related parties (Note 7) | 629,386 | 589,986 | ||
667,228 | 640,943 | |||
Equity | ||||
Share capital (Note 6) | 10,603,291 | 10,603,291 | ||
Reserves - Stock options | 169,627 | 169,627 | ||
Deficit | (9,271,997) | (9,145,786) | ||
1,500,921 | 1,627,132 | |||
$ | 2,168,149 | $ | 2,268,075 |
"K. Wayne Livingstone" | "Robert Culbert" |
Director | Director |
See accompanying notes to condensed consolidated interim financial statements.
Condensed Consolidated Interim Statements of Loss and Comprehensive Loss For the three months ended March 31, 2021 and 2020
(Expressed in Canadian dollars)
2020 | 2019 | |||
Expenses: | ||||
Accounting and audit | $ | 4,279 | $ | 4,000 |
Interest | - | 186 | ||
Legal fees | 667 | 7,020 | ||
Management and administration fees (Note 7) | 30,000 | 324 | ||
Office | 115 | 2,267 | ||
Regulatory fees | 5,200 | 5,700 | ||
Technical consulting (Note 7) | 7,596 | 8,069 | ||
Transfer agent fees | 893 | 1,408 | ||
(48,750) | (28,974) | |||
Foreign exchange gain | 2,238 | (9,687) | ||
Gain (loss) on sale of marketable securities (Note 4) | - | (5,620) | ||
Fair value change of marketable securities (Note 4) | (77,800) | (41,072) | ||
Write-down of exploration properties (Note 5d) | (1,899) | (2,017) | ||
Net loss and comprehensive loss for the period | $ | (126,211) | $ | (87,370) |
Income (loss) per share (basic and diluted) | $ | (0.00) | $ | (0.00) |
Weighted average number of common shares outstanding | 88,939,464 | 88,939,464 |
See accompanying notes to condensed consolidated interim financial statements.
Condensed Consolidated Interim Statements of Equity For the three months ended March 31, 2021 and 2020 (Expressed in Canadian dollars)
Share Capital | Reserves | |||||
Number of | Stock | |||||
Shares | Amount | options | Deficit | Total equity | ||
Balance, December 31, 2019 | 88,939,464 | $10,603,291 | $238,542 | ($9,369,438) | $1,472,395 | |
Net loss for the period | - | - | - | (87,370) | (87,370) | |
Balance, March 31, 2020 | 88,939,464 | $10,603,291 | $238,542 | ($9,456,808) | $1,385,025 | |
Cancellation of stock options (Note 6b) | - | - | (68,915) | 68,915 | - | |
Net income for the period | - | - | - | 242,107 | 242,107 | |
Balance, December 31, 2020 | 88,939,464 | $10,603,291 | $ 169,627 | ($9,145,786) | $ 1,627,132 | |
Net loss for the period | - | - | - | (126,211) | (126,211) | |
Balance, March 31, 2021 | 88,939,464 | $10,603,291 | $169,627 | ($9,271,997) | $1,500,921 |
See accompanying notes to condensed consolidated interim financial statements.