SILVER DOLLAR RESOURCES INC. Silver Dollar Resources Inc.
Condensed Consolidated Interim Financial Statements
Expressed in Canadian Dollars (Unaudited - Prepared by Management)
May 31, 2022
Notice of No Auditor Review
The accompanying unaudited condensed consolidated interim financial statements were prepared by management and approved by the Audit Committee and the Board of Directors.
The Company's independent auditors have not performed a review of these condensed consolidated interim financial statements in accordance with the standards established by the Chartered Professional Accountants of Canada for a review of interim financial statements by an entity's auditors.
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Silver Dollar Resources Inc.
Condensed Consolidated Interim Statements of Financial Position
Expressed in Canadian Dollars (Unaudited - Prepared by Management)
May 31 | August 31 | |||
2022 | 2021 | |||
ASSETS | ||||
Current | ||||
Cash | $ | 8,254,868 | $ | 10,267,287 |
Accounts receivable | 144,025 | 4,196 | ||
Prepaid expenses | 199,776 | 490,897 | ||
8,598,669 | 10,762,380 | |||
Equipment | 7,500 | 6,025 | ||
Exploration and evaluation assets (note 5) | 8,033,405 | 6,631,909 | ||
$ | 16,639,574 | $ | 17,400,314 | |
LIABILITIES | ||||
Current | ||||
Accounts payable and accrued liabilities | $ | 55,671 | $ | 40,933 |
SHAREHOLDERS' EQUITY | ||||
Share capital (note 6) | 19,163,598 | 19,156,098 | ||
Share-based payment reserve (note 6) | 2,709,352 | 3,178,055 | ||
Accumulated other comprehensive income (loss) | (3,503) | - | ||
Deficit | (5,285,544) | (4,974,772) | ||
16,583,903 | 17,359,381 | |||
$ | 16,639,574 | $ | 17,400,314 |
The accompanying Notes to the Condensed Consolidated Interim Financial Statements are an integral part of these financial statements
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Silver Dollar Resources Inc.
Condensed Consolidated Interim Statements of Comprehensive Loss
Expressed in Canadian Dollars (Unaudited - Prepared by Management)
Nine month periods ended May 31, 2022 and 2021
For the Three Months | For the Nine Months | |||||||
Ended May 31 | Ended May 31 | |||||||
2022 | 2021 | 2022 | 2021 | |||||
Expenses | ||||||||
Consulting | $ | 51,382 | $ | 112,019 | $ | 232,508 | $ | 370,694 |
Depreciation | 441 | 369 | 1,323 | 981 | ||||
Foreign exchange loss (gain) | (6,649) | - | (8,454) | - | ||||
Insurance | 4,963 | 4,635 | 14,658 | 13,809 | ||||
Interest and bank charges | 849 | 830 | 1,981 | 2,847 | ||||
Listing and filing fees | 8,247 | 8,111 | 53,776 | 29,495 | ||||
Management and administration fees (note 7) | 24,000 | 22,000 | 68,000 | 62,000 | ||||
Office | 1,282 | 2,411 | 9,961 | 9,150 | ||||
Professional fees | 9,488 | 4,864 | 41,128 | 66,432 | ||||
Share-based compensation (notes 6 and 7) | - | 318,754 | - | 3,295,575 | ||||
Site investigation fees | 1,600 | - | 4,901 | - | ||||
Transfer agent | 2,861 | 4,576 | 11,506 | 19,609 | ||||
Travel and promotion | 133,230 | 98,667 | 415,205 | 427,757 | ||||
Operating loss | (231,694) | (577,236) | (846,493) | (4,298,349) | ||||
Other income | ||||||||
Interest income | 17,520 | 27,431 | 67,018 | 74,707 | ||||
Loss for the period | (214,174) | (549,805) | (779,475) | (4,223,642) | ||||
Other comprehensive income (loss) | ||||||||
Exchange difference on translating foreign operations | (2,161) | - | (3,503) | - | ||||
Total comprehensive loss | $ | (216,335) | $ | (549,805) | $ | (782,978) | $ | (4,223,642) |
Loss per share - basic and diluted | $ | (0.01) | $ | (0.01) | $ | (0.02) | $ | (0.11) |
Weighted average number of shares outstanding | 41,897,237 | 40,602,356 | 41,871,047 | 36,879,666 |
The accompanying Notes to the Condensed Consolidated Interim Financial Statements are an integral part of these financial statements
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Silver Dollar Resources Inc.
Condensed Consolidated Interim Statements of Changes in Shareholders' Equity
Expressed in Canadian Dollars (Unaudited - Prepared by Management)
Nine month periods ended May 31, 2022 and 2021
Accumulated Other | |||||||||||
Issued Share Capital | Share-based | Comprehensive | |||||||||
Number | Amount | Payment Reserve | Income (Loss) | Deficit | Total | ||||||
Balances, August 31, 2020 | 26,982,620 | $ | 6,831,692 | $ | 307,073 | $ | - | $ | (853,528) | $ | 6,285,237 |
Shares and warrants issued for cash | 7,900,000 | 11,060,000 | - | - | - | 11,060,000 | |||||
Shares issued upon exercise of options and warrants | 6,863,257 | 1,311,667 | (424,593) | - | 357,214 | 1,244,288 | |||||
Share issuance costs | 101,360 | (47,261) | - | - | - | (47,261) | |||||
Share-based compensation | - | - | 3,295,575 | - | - | 3,295,575 | |||||
Loss for the period | - | - | - | - | (4,223,642) | (4,223,642) | |||||
Balances, May 31, 2021 | 41,847,237 | 19,156,098 | 3,178,055 | - | (4,719,956) | 17,614,197 | |||||
Loss for the period | - | - | - | - | (254,816) | (254,816) | |||||
Balances, August 31, 2021 | 41,847,237 | 19,156,098 | 3,178,055 | - | (4,974,772) | 17,359,381 | |||||
Shares issued upon exercise of options | 50,000 | 7,500 | (1,750) | - | 1,750 | 7,500 | |||||
Transfer upon option expiration | - | - | (466,953) | - | 466,953 | - | |||||
Loss for the period | - | - | - | - | (779,475) | (779,475) | |||||
Exchange difference on translating foreign operations | - | - | - | (3,503) | - | (3,503) | |||||
Balances, May 31, 2022 | 41,897,237 | $ | 19,163,598 | $ | 2,709,352 | $ | (3,503) | $ | (5,285,544) | $ | 16,583,903 |
The accompanying Notes to the Condensed Consolidated Interim Financial Statements are an integral part of these financial statements
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Silver Dollar Resources Inc. published this content on 21 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 July 2022 20:23:13 UTC.
