TSX.V: ELN OTC Pink: ELNOF FRANKFURT: E7QN
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INTERIM FINANCIAL STATEMENTS
Quarter 1
30 April 2021
(An Exploration Stage Company)
(Expressed in Canadian dollars)
MANAGEMENT'S COMMENTS ON
UNAUDITED INTERIM FINANCIAL STATEMENTS
NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS
The accompanying unaudited condensed interim financial statements of El Niño Ventures Inc. (the "Company") have been prepared by and are the responsibility of the Company's management. The unaudited interim financial statements are prepared in accordance with International Financial Reporting Standards and reflect management's best estimates and judgment based on information currently available.
The Company's independent auditor has not performed a review of these interim financial statements in accordance with standards established by the Canadian Institute of Chartered Accountants for a review of condensed interim financial staements by an entity's auditor.
El Nino Ventures Inc.
(An Exploration Stage Company)
Interim Statements of Financial Position
(Expressed in Canadian dollars)
As at 30 | As at 31 | ||||||
Notes | April 2021 | January 2021 | |||||
(Audited) | |||||||
ASSETS | $ | $ | |||||
Current assets | |||||||
Cash | 556,649 | 641,295 | |||||
Amounts receivable | 4 | 3,217 | 3,891 | ||||
Short term investments | 5 | 224,324 | 178,245 | ||||
784,190 | 823,431 | ||||||
Equipment | 7 | 16,686 | 18,173 | ||||
Total assets | 800,876 | 841,604 | |||||
EQUITY AND LIABILITIES | |||||||
Current liabilities | |||||||
Trade payables and accrued liabilities | 8 | 13,605 | 14,422 | ||||
Due to related parties | 14 | - | 23,557 | ||||
Total liabilities | 13,605 | 37,979 | |||||
Equity | |||||||
Common shares | 9 | 25,557,671 | 25,557,671 | ||||
Reserves | 9 | 8,542,566 | 8,542,566 | ||||
Deficit | (33,312,966) | (33,296,612) | |||||
Total equity | 787,271 | 803,625 | |||||
Total equity and liabilities | 800,876 | 841,604 | |||||
Corporate Information (Note 1), Going Concern (Note 1.1), Commitments and Contingencies (Note 16) | |||||||
APPROVED BY THE BOARD: | |||||||
"Harry Barr" | "Gordon Chunnett" | ||||||
Director | Director |
The accompanying notes are an integral part of these financial statements.
Page | 1
El Nino Ventures Inc.
(An Exploration Stage Company)
Interim Statements of Loss and Comprehensive Loss For the three months ended 30 April 2021 and 2020
(Expressed in Canadian dollars)
Three months ended | |||||
Notes | 30 April 2021 | 30 April 2020 | |||
$ | $ | ||||
Administration expenses | |||||
Bank charges and interest | 31 | 28 | |||
Consulting fees | 14 | 26,434 | 44,860 | ||
Depreciation | 8 | 1,487 | 1,487 | ||
Information technology | 120 | 120 | |||
Legal | - | - | |||
Management fees | 30,000 | 30,000 | |||
Marketing and communications | - | 1,143 | |||
Office and miscellaneous | 14 | 4,191 | 10,691 | ||
Rent | 2,297 | 5,440 | |||
Telephone and utilities | 1,021 | 2,141 | |||
Transfer agent and regulatory fees | 8,824 | 6,196 | |||
Travel, lodging and food | 2,864 | 4,690 | |||
Net loss before other items | (77,269) | (106,796) | |||
Other items | |||||
Interest income | 14,835 | 1,480 | |||
Unrealized loss on short-term investments | 6 | 46,080 | (89,200) | ||
Net loss and comprehensive for the period | (16,354) | (194,516) | |||
Net income per share - basic and diluted | 11 | (0.001) | (0.003) | ||
The accompanying notes are an integral part of these financial statements.
Page | 2
El Nino Ventures Inc.
Interim Statements of Cash Flows
For the three months ended 30 April 2021 and 2020
(Expressed in Canadian dollars)
Three months ended | |||
Notes | 30 April 2021 | 30 April 2020 | |
$ | $ | ||
OPERATING ACTIVITIES | |||
Income (loss) for the period | (16,354) | (194,516) | |
Adjustments for: | |||
Depreciation | 1,487 | 1,487 | |
Impairment of exploration and evaluation properites | - | - | |
Unrealized loss on short-term investments | (46,080) | 89,198 | |
Changes in operating working capital | |||
Decrease (increase) in amounts receivable | 674 | 3,183 | |
Increase (decrease) in trade payables and accrued liabilities | (816) | (1,428) | |
Increase in due to related parties | (23,557) | 12,395 | |
Cash used in operating activities | (84,646) | (89,681) | |
INVESTING ACTIVITIES | |||
Exploration and evaluation option payments received | - | - | |
Cash from investing activities | - | - | |
Decrease in cash and cash equivalents | (84,646) | (89,681) | |
Cash and cash equivalents, beginning of period | 641,295 | 931,481 | |
Cash and cash equivalents, end of period | 556,649 | 841,800 |
Supplemental cash flow information (Note 15)
The accompanying notes are an integral part of these financial statements.
Page | 3
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El Nino Ventures Inc. published this content on 14 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2021 07:05:02 UTC.