CENTURION MINERALS LTD. Financial Statements
For the nine-month period ended April 30, 2023 and 2022
(Expressed in Canadian Dollars - Unaudited)
NOTICE OF NO AUDITOR REVIEW OF CONDENSED INTERIM FINANCIAL STATEMENTS
In accordance with 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 condensed interim financial statements of the Company have been prepared by and are the responsibility of the Company's management and have been approved by the Board of Directors of the Company.
These condensed interim consolidated financial statements have not been reviewed by the Company's auditors
Centurion Minerals Ltd.
Statements of Financial Position As at April 30, 2023 and 2022 (Expressed in Canadian dollars - Unaudited)
Notes | April 30, | July 31, | |||
2023 | 2022 | ||||
Current assets | |||||
Cash | $ | 11,399 | $ | 13,312 | |
Amounts receivable | 18,988 | 14,745 | |||
Prepaid expenses | 5,714 | 6,763 | |||
Due from 1364565 B.C. Ltd. | 1 | 117,495 | - | ||
153,596 | 34,820 |
Non-current assets
Right-of-use asset | 4 |
Total assets | |
Current liabilities | |
Accounts payable and accrued liabilities | |
Due to related parties | 10 |
Lease liability | 4 |
Loans and borrowings | 6 |
Non-current liabilities
66,766 | 114,341 | ||
$ | 220,362 | $ | 149,161 |
$ | 157,737 | $ | 224,482 |
274,812 | 1,346,648 | ||
16,006 | 64,023 | ||
131,520 | 402,790 | ||
580,075 | 2,037,943 | ||
Loans and borrowings | 6,10 | 904,359 | - |
Lease liability | 4 | 59,757 | 59,757 |
964,116 | 59,757 |
Total liabilities | |
Shareholders' deficiency | |
Share capital | 7 |
Share subscriptions received | |
Share option reserve | 8 |
Share warrant reserve | 7 |
Deficit |
1,544,191 | 2,097,700 |
17,864,125 | 16,458,787 |
63,000 | - |
2,447,015 | 2,447,015 |
4,736,699 | 4,736,699 |
(26,434,668) | (25,591,040) |
(1,323,829) | (1,948,539) |
Total liabilities and shareholders' deficiency | $ | 220,362 | $ | 149,161 |
SEE NOTE 1, NATURE OF OPERATIONS
SEE NOTE 11, COMMITMENTS
Approved by the Board:
"David Tafel" | "Kenneth A Cawkell" | ||
Director | Director | ||
The accompanying notes form an integral part of these financial statements. | |||
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Centurion Minerals Ltd.
Statements of Comprehensive Loss
For the nine-month period ended April 30, 2023 and 2022 (Expressed in Canadian dollars - Unaudited)
Three-month Period Ended | Nine-Month Period Ended | ||||||||
Notes | April 30, | April 30, | April 30, | April 30, | |||||
2023 | 2022 | 2023 | 2022 | ||||||
Operating expenses | |||||||||
Accounting | 10 | $ | 27,500 | $ | 30,500 | $ | 86,000 | $ | 88,500 |
Administration | 10 | 27,000 | 27,000 | 81,000 | 81,000 | ||||
Consulting | - | 22,500 | - | 67,500 | |||||
Depreciation and amortization | 4 | 15,992 | 15,592 | 47,576 | 46,776 | ||||
Exploration and evaluation | 5 | 600 | - | 2,098 | - | ||||
expenditures | |||||||||
Filing fees and communications | 13,473 | 6,375 | 38,436 | 9,979 | |||||
Financing costs | 6 | 6,765 | 10,616 | 22,514 | 31,352 | ||||
Insurance | - | - | 1,470 | 1,381 | |||||
Interest expense | 6 | 20,924 | - | 52,629 | - | ||||
Legal | 5,000 | 16,919 | 18,791 | 26,919 | |||||
Office and miscellaneous | 2,139 | 2,414 | 6,315 | 7,660 | |||||
Rent (recovery) | (18,697) | (10,195) | (43,567) | (30,903) | |||||
Telephone | 1,331 | 1,012 | 2,314 | 4,235 | |||||
Travel | 188 | - | 188 | 828 | |||||
Wages | 14,400 | 18,000 | 42,000 | 51,000 | |||||
$ | (116,615) | $ | (140,733) | $ | (357,764) | $ | (386,227) | ||
Other income (expenses) | |||||||||
Shares for debt payment | 7 | - | - | (673,870) | - | ||||
Interest income | 2,030 | - | 5,429 | - |
Net loss and comprehensive loss
Basic and diluted earnings per common share
Weighted average number of common shares
$ | (114,585) | $ | (140,733) | $ | (1,026,205) | $ | (386,227) |
$ | (0.00) | $ | (0.01) | $ | (0.04) | $ | (0.02) |
31,469,069 | 16,819,719 | 24,868,812 | 16,819,719 | ||||
The accompanying notes form an integral part of these financial statements.
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Centurion Minerals Ltd.
Statements of Changes in Deficiency
For the nine-month period ended April 30, 2023 and 2022 (Expressed in Canadian dollars - Unaudited)
Number of | Share | Share | Share | ||||||||||||
Note | common | Share | subscriptions | option | warrant | ||||||||||
shares | capital | to be issued | reserve | reserve | Deficit | Total | |||||||||
Balance at August 1, 2021 | 16,819,719 | $ | 16,458,787 | $ | - | $ | 2,447,015 | $ | 4,736,699 | $ | (25,162,477) | $ | (1,519,976) | ||
Comprehensive loss | - | - | - | - | - | (386,227) | (386,227) | ||||||||
Balance at April 30, 2022 | 16,819,719 | $ | 16,458,787 | $ | - | $ | 2,447,015 | $ | 4,736,699 | $ | (25,548,704) | $ | (1,906,203) | ||
Balance at August 1, 2022 | 16,819,719 | $ | 16,458,787 | $ | - | $ | 2,447,015 | $ | 4,736,699 | $ | (25,591,040) | $ | (1,948,539) | ||
1364565 B.C. Ltd. Loan | 1 | - | - | - | - | - | 100,000 | 100,000 | |||||||
1364565 B.C. Ltd. Liabilities Assignment | 1 | - | - | - | - | - | 82,577 | 82,577 | |||||||
Share issue cost | - | (1,000) | - | - | - | - | (1,000) | ||||||||
Share subscriptions to be issued | - | - | 63,000 | - | - | - | 63,000 | ||||||||
Shares for debt | 7 | 14,649,350 | 1,406,338 | - | - | - | - | 1,406,338 | |||||||
Comprehensive loss | - | - | - | - | - | (1,026,205) | (1,026,205) | ||||||||
Balance at April 30, 2023 | 31,469,069 | $ | 17,864,125 | $ | 63,000 | $ | 2,447,015 | $ | 4,736,699 | $ | (26,434,668) | $ | (1,323,829) |
The accompanying notes form an integral part of these financial statements.
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Centurion Minerals Ltd.
Statements of Cash Flows
For the nine-month period ended April 30, 2023 and 2022 (Expressed in Canadian dollars - Unaudited)
Notes | April 30, | April 30, | |||
2023 | 2022 | ||||
Cash flows from operating activities | |||||
Net loss | $ | (1,026,205) | $ | (386,227) | |
Adjustments to non-cash items | |||||
Depreciation and amortization | 4 | 47,576 | 46,776 | ||
Finance costs | 6 | 22,514 | 31,352 | ||
Interest payment | 6 | 52,629 | - | ||
Loss on debt settlement | 7 | 673,870 | - | ||
Changes in non-cash working capital | |||||
(Increase) decrease in amounts receivable | (4,243) | 1,403 | |||
Due from 1364565 B.C. Ltd. | 1 | (117,495) | - | ||
Prepaid expenses and deposits | 1,049 | - | |||
Decrease in lease liability | 4 | (48,017) | (41,103) | ||
Increase (decrease) in accounts payable and accrued liabilities | (66,746) | 17,547 | |||
Increase (decrease) in payable to related parties | 10 | (295,527) | 332,025 | ||
Increase (decrease) in loans and borrowings | (135,786) | - | |||
Net cash flows used in operating activities | (896,381) | 1,773 | |||
Cash flows from financing activities | |||||
Loan to 1364565 B.C. Ltd. | 1 | 100,000 | - | ||
Share issue costs | (1,000) | - | |||
Shares subscriptions to be issued | 63,000 | - | |||
Shares for debt payment | 7 | 732,468 | - | ||
Net cash from financing activities | 894,468 | - | |||
Change in cash | (1,913) | 1,773 | |||
Cash, beginning of the year | 13,312 | 713 | |||
Cash, end of the period | $ | 11,399 | $ | 2,486 | |
The accompanying notes form an integral part of these financial statements.
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Centurion Minerals Ltd. published this content on 28 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 June 2023 22:03:34 UTC.
