VOLTAGE METALS CORP. (FORMERLY MANSA EXPLORATION INC.)
CONDENSED INTERIM FINANCIAL STATEMENTS
FOR THE PERIOD ENDED JUNE 30, 2022
(Unaudited)
VOLTAGE METALS CORP. (FORMERLY MANSA EXPLORATION INC.) Index to the Condensed Interim Financial Statements
FOR THE PERIOD ENDED JUNE 30, 2022 (Expressed in Canadian Dollars) (Unaudited)
Notice of No Auditor Review of Condensed Interim Financial Statements | Page 3 |
Condensed Interim Statements of Financial Position | Page 4 |
Condensed Interim Statements of Changes in Shareholders' Equity | Page 5 |
Condensed Interim Statements of Loss and Comprehensive Loss | Page 6 |
Condensed Interim Statements of Cash Flows | Page 7 |
Notes to the Condensed Interim Financial Statements | Pages 8-16 |
NOTICE OF NO AUDITOR REVIEW OF THE CONDENSED 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 the financial statements have not been reviewed by an auditor.
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.
VOLTAGE METALS CORP. (FORMERLY MANSA EXPLORATION INC.) CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION (Expressed in Canadian dollars)
(Unaudited)
June 30, | December 31, | ||||
2022 | 2021 | ||||
$ | $ | ||||
ASSETS | |||||
CURRENT | |||||
Cash and cash equivalents | 256,259 | 1,938,674 | |||
Amounts receivable | 240,772 | 24,851 | |||
Marketable securities | 60,000 | - | |||
Prepaid expenses | 111,243 | 37,500 | |||
Total current assets | 668,274 | 2,001,025 | |||
Reclamation bond (Note 6) | 3,000 | 3,000 | |||
Exploration advances | 13,200 | 13,200 | |||
Exploration and evaluation assets (Note 5 and 6) | 11,186,946 | 2,347,642 | |||
TOTAL ASSETS | 11,871,420 | 4,364,867 | |||
LIABILITIES | |||||
CURRENT | |||||
Accounts payable and accrued expenses (Note 7) | 680,864 | 207,541 | |||
Flow-through share premium liability (Note 9 and 10) | 219,750 | 219,750 | |||
Loans payable | 300,003 | - | |||
TOTAL LIABILITIES | 1,200,617 | 427,291 | |||
SHAREHOLDERS' EQUITY | |||||
Share capital (Note 10) | 11,886,723 | 4,797,961 | |||
Reserves (Note 10) | 135,255 | 72,905 | |||
Subscription receivable (Note 10) | - | (4,700) | |||
Deficit | (1,351,175) | (928,590) | |||
TOTAL SHAREHOLDERS' EQUITY | 10,670,803 | 3,937,576 | |||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 11,871,420 | 4,364,867 | |||
NATURE OF OPERATIONS (Note 1) | |||||
GOING CONCERN (Note 2) | |||||
COMMITMENTS AND CONTINGENCIES (Note 6) | |||||
Approved on behalf of the Board: | |||||
/s/ "Clayton Fisher" | /s/ "Robert Barlow" | ||||
Director | Director |
The accompanying notes are an integral part of these consolidated financial statements.
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VOLTAGE METALS CORP. (FORMERLY MANSA EXPLORATION INC.) CONDENSED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Expressed in Canadian dollars)
(Unaudited)
Share Capital | Subscription | ||||||
# Shares | $ Amount | receivable | Reserves | Deficit | Total | ||
$ | $ | $ | $ | $ | |||
Balance, December 31, 2020 | 19,979,245 | 1,201,954 | - | 31,000 | (516,804) | 716,150 | |
Shares issued for debt | 400,000 | 40,000 | - | - | 40,000 | ||
Share-based compensation | 1,600,000 | 152,000 | - | - | 152,000 | ||
Net loss and comprehensive loss | |||||||
for the period | - | - | - | (176,294) | (176,294) | ||
Balance, March 31, 2021 | 21,979,245 | 1,393,954 | - | 31,000 | (693,098) | 731,856 | |
Balance, December 31, 2021 | 44,315,511 | 4,797,961 | - | 4,700 | 72,905 | (928,590) | 3,937,576 |
Private placement proceeds Finders fee - warrants Share issuance costs Shares issued for mineral property acquisition Share-based compensation Loss for the year
1,731,333 | 231,003 | 4,700 | - | - | 235,703 |
(9,550) | - | 9,550 | - | - | |
(176,441) | - | - | (176,441) | ||
37,100,000 | 7,043,750 | - | - | - | 7,043,750 |
- | - | 52,800 | 52,800 | ||
- | - | - | (422,585) | (422,585) |
Balance, June 30, 2022 | 83,146,844 11,886,723 | - 135,255 (1,351,175) 10,670,803 |
The accompanying notes are an integral part of these condensed interim financial statements.
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