Business
Jade Leader : Interim Statements
Jade Leader : Interim
About this update from Jade Leader Corp.
Jade Leader Corp. Condensed Interim Consolidated Financial Statements (Expressed in Canadian Dollars) Three and Nine Months Ended June 30, 2022 (Unaudited) Notice to Reader These condensed interim consolidated financial statements have not been reviewed by the Company's external auditors. These statements have been prepared by and are the responsibility of the Company's management. Jade Leader Corp. Condensed Interim Statements of Financial Position (Expressed in Canadian Dollars) As at June 30, 2022 and September 30, 2021 (Unaudited - prepared by management) June 30, September 30 2022 2021 ASSETS Current Assets Cash (Note 4) $ 210,196 $ 203,786 Accounts receivable (Note 5) 1,933 8,318 Prepaid expenses 20,025 22,706 Short-term investments (Note 6) 1,520 3,120 233,674 237,930 Non-current Assets Exploration and evaluation asset advances and deposits (Note 7) 4,357 4,357 Exploration and evaluation assets (Note 7) 1,219,354 1,197,291 Equipment and software (Note 8) 22,602 25,548 1,246,313 1,227,196 TOTAL ASSETS $ 1,479,987 $ 1,465,126 EQUITY AND LIABILITIES Current Liabilities Deferred sublease revenue $ 913 $ 913 Accounts payable and accrued liabilities (Note 9) 120,665 121,372 121,578 122,285 Non-current Liabilities Decommissioning obligation 12,750 12,750 TOTAL LIABILITIES 134,328 135,035 EQUITY Share capital (Note 10) 14,516,707 14,384,351 Reserves 3,535,243 3,446,111 Deficit (16,706,291) (16,500,371) TOTAL EQUITY 1,345,659 1,330,091 TOTAL EQUITY AND LIABILITIES $ 1,479,987 $ 1,465,126 Nature and continuance of operations (Note 1) Approved by the Board "Jean Pierre Jutras" __________________________ Director "Shane Ebert" ___________________________ Director See accompanying notes to the financial statements. 1 Jade Leader Corp. Condensed Interim Statements of Net and Comprehensive Loss (Expressed in Canadian Dollars) For the three and nine month periods ended June 30, 2022 and 2021 (Unaudited - prepared by management) Three months ended Nine months ended June 30, June 30, June 30, June 30, 2022 2021 2022 2021 Expenses General and administrative (Note 12) $ 45,520 $ 57,448 $ 172,861 $ 173,203 Reporting to shareholders (2,253) - 13,479 15,265 Professional fees 1,688 2,310 12,952 24,253 Stock exchange and transfer agent fees 2,037 2,118 7,831 8,411 Depreciation 983 1,068 2,946 3,204 Mineral production tax - - 5,005 - Pre-acquisition expenses 1,596 - 3,179 - 49,571 62,944 218,253 224,336 Loss before other items (49,571) (62,944) (218,253) (224,336) Other items Sublease revenue 4,697 4,697 14,092 14,091 Interest and other 505 (132) (159) (208) (Loss) gain from short- term investments (760) (840) (1,600) 1,800 Legal settlement (Note 17) - - - (28,833) 4,442 3,725 12,333 (13,150) Net loss and comprehensive loss $ (45,129) $ (59,219) $ (205,920) $ (237,486) Basic and diluted loss per share $ 0.00 $ 0.00 $ 0.00 $ 0.00 Weighted average shares outstanding - basic and diluted 59,702,293 51,267,708 59,148,918 51,267,708 Nature and continuance of operations (Note 1) See accompanying notes to the financial statements. 2 Jade Leader Corp. Condensed Interim Statements of Cash Flows (Expressed in Canadian Dollars) For the three and nine month periods ended June 30, 2022 and 2021 (Unaudited - prepared by management) Three months ended Nine months ended June 30, June 30, June 30, June 30, 2022 2021 2022 2021 Increase (decrease) in cash at bank Operating activities Cash received from sublease revenue (Note 15) $ 9,629 $ 9,629 $ 19,024 $ 18,560 Cash paid to suppliers and contractors (Note 15) (25,813) (37,346) (168,812) (198,825) Cash expended on legal settlement (Note 17) - - - (28,833) Cash used in operating activities (16,184) (27,717) (149,788) (209,098) Investing activities Interest and other 505 (132) (159) (208) Cash received (expended) on exploration and evaluation assets (Note 15) 12,639 (1,104) (65,131) (9,469) Cash expended on equipment and software - - - (809) Cash provided by (used in) investing activities 13,144 (1,236) (65,290) (10,486) Financing Activities Private placement proceeds - - 225,000 - Share issue costs (1,275) - (3,512) - Cash (used in) provided by financing activities (1,275) - 221,488 - Increase (decrease) in cash at bank (4,315) (28,953) 6,410 (219,584) Cash at bank: Beginning of period 214,511 80,496 203,786 271,127 End of period $ 210,196 $ 51,543 $ 210,196 $ 51,543 Supplementary information: Interest and taxes During the three and nine month periods ended June 30, 2022 and June 30, 2021, the Company did not expend cash on interest. During the nine-month period ended June 30, 2022, the Company expended $5,005, ($3,954 USD) on mineral production taxes (2021 - $Nil). Non-cash transactions: Nine months ended June 30 During the nine-month period ended June 30, 2022, there were no non-cash transactions. During the nine-month period ended June 30, 2021, the Company received 4,000 common shares of Mindset Pharma Inc. in exchange for 200,000 common shares of North Sur Resources Inc. Refer to Note 6 - "Short-term investments" for further information. Three months ended June 30 During the three month periods ended June 30, 2022 and June 30, 2021, there were no non-cash transactions. See accompanying notes to the financial statements. 3 Jade Leader Corp. Condensed Interim Statement of Changes in Equity (Expressed in Canadian Dollars) (Unaudited - prepared by management) Reserves Common Equity-settled share share based Total capital payment Warrants Other* Reserves Deficit Total $ $ $ $ $ $ $ Balance, September 30, 2020 14,234,128 637,312 815,107 1,822,107 3,274,526 (15,674,670) 1,833,984 Net and comprehensive loss for the period - - - - - (237,486) (237,486) Options expired, January 2021 - (223,872) - 223,872 - - - Options expired, March 2021 - (78,316) - 78,316 - - - Balance, June 30, 2021 14,234,128 335,124 815,107 2,124,295 3,274,526 (15,912,156) 1,596,498 Net and comprehensive loss for the period - - - - - (588,215) (588,215) Private placement share and warrant issue 153,862 - 107,153 - 107,153 - 261,015 Share issuance costs (3,639) - - - - - (3,639) Options issued, September 2021 - 64,432 - - 64,432 - 64,432 Options expired, September 2021 - (11,438) - 11,438 - - - Balance, September 30, 2021 14,384,351 388,118 922,260 2,135,733 3,446,111 (16,500,371) 1,330,091 Net and comprehensive loss for the period - - - - - (205,920) (205,920) Warrants expired, October 2021 - - (629,728) 629,728 - - - Private placement share and warrant issue 135,868 - 89,132 - 89,132 - 225,000 Warrants expired, December 2021 - - (53,944) 53,944 - - - Warrants expired, January 2022 - - (18,413) 18,413 - - - Options expired, February 2022 - (43,500) - 43,500 - - - Options expired, May 2022 - (10,500) - 10,500 - - - Share issuance costs (3,512) - - - - - (3,512) Balance, June 30, 2022 14,516,707 334,118 309,307 2,891,818 3,535,243 (16,706,291) 1,345,659 *Other reserves are comprised of the aggregate of the carrying value of escrow shares that were cancelled for no proceeds and the value of options and warrants that expired without exercise. These values were relieved from common share capital, share based payment reserve and warrants reserve respectively upon the cancellation/expiry of the equity instrument. See accompanying notes to the financial statements. 4 This is an excerpt of the original content. To continue reading it, access the original document here .