CMX GOLD & SILVER CORP. CMX GOLD & SILVER CORP.
CONSOLIDATED FINANCIAL STATEMENTS
SEPTEMBER 30, 2021 AND 2020
Notice to reader
In accordance with National Instrument 51-102 released by the Canadian Securities Administrators, the Company discloses that its auditors have not reviewed the unaudited interim consolidated financial statements for the nine- month period ended September 30, 2021. These financial statements and the notes thereto have been prepared by the Company's management in accordance with International Financial Reporting Standards using management's best judgments, consistent with prior periods, and should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2020.
CMX GOLD & SILVER CORP.
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
As at | September 30, 2021 | December 31, 2020 | |||
ASSETS | |||||
Current | |||||
Cash and cash equivalents | $ | 1,484 | $ | 233 | |
Exploration and evaluation (note 6) | 658,065 | 657,646 | |||
$ | 659,549 | $ | 657,879 | ||
LIABILITIES | |||||
Current | |||||
Trade and other payables | $ | 180,455 | $ | 214,960 | |
Subscriptions received (note 7) | - | 31,486 | |||
Due to related parties (note 8) | 817,172 | 868,683 | |||
Debentures to related parties (notes 8 and 9) | 203,817 | 255,821 | |||
Debentures (note 9) | 208,901 | 139,172 | |||
Total liabilities | 1,410,345 | 1,510,122 | |||
SHAREHOLDERS' DEFICIENCY | |||||
Share capital (note 10) | 4,266,029 | 4,001,253 | |||
Warrants (note 12) | 85,224 | 84,445 | |||
Contributed surplus (note 13) | 1,140,717 | 1,056,272 | |||
Accumulated other comprehensive income | 141,837 | 140,362 | |||
Deficit | (6,384,603) | (6,134,575) | |||
Total shareholders' deficiency | (750,796) | (852,243) | |||
$ | 659,549 | $ | 657,879 | ||
Going concern (note 2) |
Commitments (note 18)
Subsequent events (note 19)
Approved on behalf of the Board of Directors
/s/ "Bruce J. Murray"
/s/ "Jan M. Alston"
The accompanying notes are an integral part of these consolidated financial statements
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CMX GOLD & SILVER CORP.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
Three months ended September | Nine months ended September | |||||||||
30 | 30 | |||||||||
2021 | 2020 | 2021 | 2020 | |||||||
Expenses | ||||||||||
Management fees (note 8) | $ | 52,271 | $ | 10,125 | $ | 139,466 | $ | 43,740 | ||
General and administrative | 144 | 5,199 | 10,832 | 16,772 | ||||||
Listing and filing fees | 25,541 | 2,250 | 34,943 | 8,138 | ||||||
Professional fees | - | - | 6,200 | - | ||||||
Mineral property expenditures (note 6) | 1,650 | 1,764 | 3,213 | 3,500 | ||||||
Loss (gain) on foreign exchange | 357 | (160) | 1,111 | 1,624 | ||||||
Shareholder reporting and investor communications | 403 | 429 | 722 | 723 | ||||||
Expense recovery | (5,316) | - | (5,316) | - | ||||||
75,672 | 19,607 | 191,171 | 74,497 | |||||||
Loss before financing expenses | (80,050) | (19,607) | (191,171) | (74,497) | ||||||
Financing expenses | ||||||||||
Other income | 4,378 | - | 4,378 | - | ||||||
Related party and debenture interest (notes 8 and 9) | (16,329) | (17,172) | (45,910) | (50,420) | ||||||
Bank charges and third-party interest | (5,727) | (1,383) | (17,325) | (5,673) | ||||||
Net loss, for the period | (97,728) | (38,162) | (250,028) | (130,590) | ||||||
Other comprehensive income | ||||||||||
Items that may be reclassified subsequently to net loss | ||||||||||
Exchange difference on translating foreign operation | 17,403 | 53,139 | 1,475 | 18,815 | ||||||
Total comprehensive income (loss), for the period | $ | (80,325) | $ | 14,977 | $ | (248,553) | $ | (111,775) | ||
Basic and diluted net loss per share | $ | 0.002 | $ | 0.001 | $ | 0.007 | $ | 0.004 | ||
Weighted average number of shares outstanding - basic | 43,305,724 | 36,305,724 | 38,531,710 | 36,305,724 |
The accompanying notes are an integral part of these consolidated financial statements
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CMX GOLD & SILVER CORP.
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
Issued share capital | Warrants | Accumulated | Contributed | Deficit | Total | ||||||
other | Surplus | ||||||||||
comprehensive | |||||||||||
income | |||||||||||
# | $ | ||||||||||
Balance December 31, 2019 | 36,305,724 | $ 4,001,253 | $ | 87,920 | $ | 152,972 | $ 1,052,797 | $ | (5,925,921) | $ | (630,979) |
Expired warrants (note 12) | - | - | (3,475) | - | 3,475 | - | - | ||||
Net loss for the year | - | - | - | - | - | (208,654) | (208,654) | ||||
Exchange difference on translating | |||||||||||
foreign operation | - | - | - | (12,610) | - | - | (12,610) | ||||
Balance December 31, 2020 | 36,305,724 | $ 4,001,253 | $ | 84,445 | $ | 140,362 | $ 1,056,272 | $ | (6,134,575) | $ | (852,243) |
Shares issued for cash (note 10 and 12) | 4,000,000 | 151,301 | 48,699 | - | - | - | 200,000 | ||||
Shares issued for debt (note 10 and 12) | 3,000,000 | 113,475 | 36,525 | - | - | - | 150,000 | ||||
Expired warrants (note 12) | - | - | (84,445) | - | 84,445 | - | - | ||||
Net loss for the nine-month period | - | - | - | - | - | (250,028) | (250,028) | ||||
Exchange difference on translating | |||||||||||
foreign operation | - | - | - | 1,475 | - | - | 1,475 | ||||
Balance September 30, 2021 | 43,305,724 | $ 4,266,029 | $ | 85,224 | $ | 141,837 | $ 1,140,717 | $ | (6,384,603) | $ | (750,796) |
The accompanying notes are an integral part of these consolidated financial statements
3
CMX GOLD & SILVER CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Three months ended September | Nine months ended September | |||||||
30 | 30 | |||||||
2021 | 2020 | 2021 | 2020 | |||||
Cash flow from operating activities | ||||||||
Net loss | $ | (97,728) | $ | (38,162) | $ | (250,028) | $ | (130,590) |
Items not affecting cash | ||||||||
Management fees (note 8) | 57,271 | 10,125 | 139,466 | 33,660 | ||||
Related and third party and debenture interest | ||||||||
(notes 8 and 9) | 19,353 | 17,150 | 54,882 | 50,420 | ||||
General and administrative (note 8) | - | 5,005 | - | 16,115 | ||||
Loss (gain) on foreign exchange | 357 | (160) | 1,111 | 1,624 | ||||
Expense recovery | (5,316) | - | (5,316) | - | ||||
Other income | (4,378) | - | (4,378) | - | ||||
Change in non-cash working capital items (note 14) | 11,261 | 6,051 | (70,298) | 20,011 | ||||
(19,180) | 9 | (134,561) | (8,760) | |||||
Cash flows from financing activities | ||||||||
Shares issued for cash (note 10) | - | - | 200,000 | - | ||||
Subscriptions received (note 7) | - | - | - | 10,000 | ||||
Cash payments from related parties (note 8) | - | - | 5,000 | 5,700 | ||||
Cash payments to related parties (note 8) | (44,438) | - | (69,188) | (11,920) | ||||
(44,438) | - | 135,812 | 3,780 | |||||
Net change in cash and cash equivalents | (63,618) | 9 | 1,251 | (4,980) | ||||
Cash and cash equivalents, beginning of period | 65,102 | 33 | 233 | 5,022 | ||||
Cash and cash equivalents, end of period | $ | 1,484 | $ | 42 | $ | 1,484 | $ | 42 |
The accompanying notes are an integral part of these consolidated financial statements
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CMX Gold and Silver Corp. published this content on 30 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 November 2021 08:30:06 UTC.
