GREEN BATTERY MINERALS INC.
(Previously Goldcore Resources Ltd. and Berkwood Resources Ltd.)
(An Exploration Stage Company)
Consolidated Interim Financial Statements
Periods Ended November 30, 2021 and 2020
(Expressed in Canadian dollars)
Index
FINANCIAL STATEMENTS | Page |
Notice to Readers | 1 |
Consolidated Statements of Financial Position | 2 |
Consolidated Statements of Loss and Comprehensive Loss | 3 |
Consolidated Statements of Changes in Shareholders' Equity | 4 |
Consolidated Statements of Cash Flows | 5 |
Notes to the Consolidated Financial Statements | 6 - 27 |
NOTICE - NO Auditor Review of the Interim Financial Statements
The accompanying unaudited interim consolidated financial statements of Green Battery Minerals Inc., ("the Company"), for the nine months ended November 30, 2021, have been prepared by the management and have not been the subject of a review by the Company's external independent auditors.
Page 1
GREEN BATTERY MINERALS INC.
Consolidated Statements of Financial Position
(Expressed in Canadian Dollars)
November 30, | February 28, | |||
As at | 2021 | 2021 | ||
ASSETS | ||||
Current | $ | 4,153,220 | ||
Cash | $ | 874,227 | ||
Accounts receivable | 25,494 | 24,712 | ||
Exploration advances | 50,694 | - | ||
Prepaid expenses | 46,290 | 165,903 | ||
4,275,698 | 1,064,842 | |||
Furniture and equipment (Note 4) | 12,742 | 15,780 | ||
Mineral property interests (Note 5) | 1,683,489 | 1,669,536 | ||
$ | 5,971,929 | $ | 2,750,158 | |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||
Current | $ | 38,740 | ||
Accounts payable and accrued liabilities | $ | 72,386 | ||
Due to related parties (Note 6) | 72,509 | 40,362 | ||
111,249 | 112,748 | |||
Shareholders' equity | 38,977,058 | |||
Share capital (Note 7) | 34,299,269 | |||
Contributed surplus (Note 8) | 4,324,740 | 4,064,546 | ||
Deficit | (37,441,118) | (35,726,405) | ||
5,860,680 | 2,637,410 | |||
$ | 5,971,929 | $ | 2,750,158 |
These consolidated financial statements were approved by the Board of Directors on January 21, 2022.
"Thomas Yingling" | "Binny Jassal" | |
Director - Thomas Yingling | Director - Binny Jassal |
The accompanying notes are an integral part of these consolidated financial statements.
Page 2
GREEN BATTERY MINERALS INC.
Consolidated Interim Statements of Loss and Comprehensive Loss (Expressed in Canadian Dollars)
Three Months | Three Months | Nine Months | Nine Months | |||||
Ended | Ended | Ended | Ended | |||||
November 30, | November 30, | November 30, | November 30, | |||||
2021 | 2020 | 2021 | 2020 | |||||
Expenses | $ | 1,012 | $ | 3,038 | ||||
Amortization (Note 4) | $ | 1,386 | $ | 4,158 | ||||
Consulting fees (Note 6) | 105,658 | 149,500 | 450,806 | 304,275 | ||||
Exploration and evaluation (Notes 5 ) | 408,535 | - | 495,813 | 1,090 | ||||
Office and administration | 10,457 | 10,459 | 45,078 | 18,926 | ||||
Promotional and marketing | 13,700 | 481 | 47,029 | 481 | ||||
Professional fees (Note 6) | 40,500 | 17,193 | 113,811 | 54,214 | ||||
Shareholder communications | 27,366 | 15,349 | 231,307 | 15,349 | ||||
Stock-based compensation (Notes 6 and 7) | - | 62,832 | 217,632 | 62,832 | ||||
Travel | 13,880 | 1,698 | 22,596 | 5,682 | ||||
Trade shows and events | 11,457 | - | 11,457 | 4,788 | ||||
Transfer agent and filing fees | 36,659 | 5,751 | 76,146 | 16,635 | ||||
669,224 | 264,649 | 1,714,713 | 488,430 | |||||
Loss before other items | (669,224) | (264,649) | (1,714,713) | (488,430) | ||||
Other items | ||||||||
Mining exploration tax credit | - | 20,126 | - | 20,126 | ||||
Net loss and comprehensive loss for the period | $ | (669,224) | $ | (244,523) | $ | (1,714,713) | $ | (468,304) |
Loss per common share - basic and diluted | $ | (0.01) | $ | (0.01) | $ | (0.03) | $ | (0.03) |
Weighted average number of common shares | ||||||||
outstanding | 54,471,439 | 17,575,340 | 51,170,798 | 17,488,358 |
The accompanying notes are an integral part of these consolidated financial statements.
Page 3
GREEN BATTERY MINERALS INC.
Consolidated Interim Statements of Changes in Shareholders' Equity (Expressed in Canadian Dollars)
Number of | Contributed | Shareholders' | |||||||
Shares | Share Capital | Surplus | Deficit | Equity | |||||
Balance, February 28, 2021 | 39,941,340 | $ | 34,299,269 | $ | 4,064,546 | $ | (35,726,405) | $ | 2,637,410 |
Private placements - net of share issuance costs | 28,221,001 | 4,613,851 | - | - | 4,613,851 | ||||
Shares issued pursuant to exercise of warrants | 350,000 | 70,000 | - | - | 70,000 | ||||
Shares issued pursuant to exercise of options | 250,000 | 36,500 | - | - | 36,500 | ||||
Broker's shares | 533,946 | 92,058 | - | - | 92,058 | ||||
Fair value of broker's shares granted | - | (92,058) | - | - | (92,058) | ||||
Stock-based compensation | - | - | 217,632 | - | 217,632 | ||||
Fair value of options exercised | - | 35,651 | (35,651) | - | - | ||||
Fair value of brokers' warrants granted | - | (78,213) | 78,213 | - | - | ||||
Net loss for the period | - | - | - | (1,714,713) | (1,714,713) | ||||
Balance, November 30, 2021 | 69,296,287 | $ | 38,977,058 | $ | 4,324,740 | $ | (37,441,118) | $ | 5,860,680 |
Balance, February 29, 2020 | 17,445,340 | $ | 31,747,878 | $ | 3,512,041 | $ | (33,370,987) | $ | 1,888,932 |
Private placements - net of share issuance costs | 15,000,000 | 1,409,285 | - | - | 1,409,285 | ||||
Shares issued pursuant to exercise of stock options | 2,947,500 | 347,150 | - | - | 347,150 | ||||
Shares issued pursuant to exercise of warrants | 412,500 | 82,500 | - | - | 82,500 | ||||
Shares issued pursuant to property agreements | 4,000,000 | 520,000 | - | - | 520,000 | ||||
Broker's shares | 136,000 | 13,600 | - | - | 13,600 | ||||
Fair value of broker's shares granted | - | (13,600) | - | - | (13,600) | ||||
Stock-based compensation | - | - | 744,961 | - | 744,961 | ||||
Fair value of brokers' warrants granted | - | (10,222) | 10,222 | - | - | ||||
Fair value of stock options exercised | - | 202,678 | (202,678) | - | - | ||||
Net loss for the year | - | - | - | (2,355,418) | (2,355,418) | ||||
Balance, February 28, 2021 | 39,941,340 | $ | 34,299,269 | $ | 4,064,546 | $ | (35,726,405) | $ | 2,637,410 |
The accompanying notes are an integral part of these consolidated financial statements.
Page 4
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Green Battery Minerals Inc. published this content on 24 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 January 2022 19:23:04 UTC.