The accompanying unaudited condensed interim consolidated financial statements of Minfocus Exploration Corp. for the nine months ended November 30, 2020, have been prepared by management and approved by the Audit Committee and the Board of Directors of the Company. These condensed interim consolidated financial statements have not been reviewed by the Company's external auditor.
The notes to the condensed interim consolidated financial statements are an integral part of these statements.
Minfocus Exploration Corp.
Condensed Interim Consolidated Statements of Financial Position Unaudited - prepared by management
(Expressed in Canadian Dollars)
November 30,
February 29,
2020
2020
$
$
ASSETS
Current assets
Cash
56,219
10,305
Amounts receivable
5,966
748
Prepaid expenses
-
-
Total current assets
62,185
11,053
Reclamation bonds
5,649
5,649
Exploration and evaluation assets (Note 6)
855,890
760,479
Total assets
923,724
777,181
SHAREHOLDERS' EQUITY AND LIABILITIES
Current liabilities
Trade and other payables (Note 9)
353,569
342,869
Loan payable (Note 10)
10,745
10,000
Total liabilities
364,314
352,869
Shareholders' equity
Issued capital (Note 7)
7,505,315
7,307,293
Equity reserve (Note 7)
324,233
247,801
Deficit
(7,270,138)
(7,130,782)
Total shareholders' equity
559,410
424,312
Total shareholders' equity and liabilities
923,724
777,181
Going concern (Note 1)
Subsequent event (Note 11)
These financial statements were approved by the Board of Directors and authorized for issue on January 20, 2021.
(s) Alicia Milne
, Director
(s) Jody Bellefleur
, Director
The notes to the condensed interim consolidated financial statements are an integral part of these statements.
Minfocus Exploration Corp.
Condensed Interim Consolidated Statements of Loss and Comprehensive Loss Unaudited - prepared by management
(Expressed in Canadian Dollars)
Three months
Three months
Nine
Nine
ended
ended
months ended
months ended
November 30,
November 30,
November 30,
November 30,
2020
2019
2020
2019
$
$
$
$
General and administrative expenses
Audit and accounting fees (Note 9)
1,500
1,500
15,999
6,500
Advertising and promotion
4,703
-
6,764
-
Consulting fees (Note 9)
30,000
-
30,000
-
Depreciation
-
175
-
976
Filing and transfer agent fees
14,584
1,071
25,406
11,593
Office and administrative
1,406
1,196
2,114
4,972
Professional fees
160
-
320
161
Share-based payments (Note 7)
76,432
-
76,432
-
Total general and administrative expenses
128,785
3,942
157,035
24,202
Other income
Write-off of accounts payable
-
-
17,679
-
Terminal loss on sale of assets
-
2,536
-
2,536
Net loss and comprehensive loss
128,785
6,478
139,356
26,738
Basic and diluted net loss per share (Note 8)
0.01
0.00
0.01
0.00
The notes to the condensed interim consolidated financial statements are an integral part of these statements.
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
Original document
Permalink
Disclaimer
Minfocus Exploration Corp. published this content on 21 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 January 2021 12:45:06 UTC
Q2 Metals Corp. is a Canadian mineral exploration company. The Company is focused on unlocking its portfolio of lithium projects in the Eeyou Istchee James Bay region of Quebec, Canada. The Company owns 100% interests in Mia Lithium Property and the Cisco Lithium Property. The Mia Lithium Property is comprised of 171 mineral claims, located 62 kilometers (kms) East of Wemindji Community in the Eeyou Istchee James Bay Territory, Quebec. The Cisco Property is comprised of approximately 222 mineral claims and is 11,374 hectares in size. The Company also owns the Stellar Lithium Property with 77 claims totaling approximately 3,972-ha, located approximately six kilometers (km) north of its Mia Lithium Property. The Company is also exploring the prospective Big Hill and Titan Gold projects covering approximately 110 square kilometers in the Talgai Goldfields of the broader Warwick-Texas District of Queensland, Australia. The Titan Gold Property is located in Queensland, Australia.