TAIPAN RESOURCES INC.

Size: px
Start display at page:

Download "TAIPAN RESOURCES INC."

Transcription

1 Financial Statements of TAIPAN RESOURCES INC. (formerly Taipan Capital Corp.) Unaudited Prepared by Management) Nine months 2010

2 NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS Under National Instrument , Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of the interim financial statements, they must be accompanied by a notice indicating that the financial statements have not been reviewed by an auditor. The accompanying unaudited interim financial statements of the Company have been prepared by management and approved by the Audit Committee and Board of Directors of the Company. The Company s independent auditors have not performed a review of these financial statements in accordance with the standards established by the Canadian Institute of Chartered Accountants for a review of interim financial statements by an entity s auditors. Suite West Georgia St., Vancouver, BC Canada V6E 2Y3 Phone (604) Fax (604) website:

3 BALANCE SHEETS AS AT JULY 31, 2010 AND OCTOBER 31, 2009 October 31, (unaudited) (audited) ASSETS Current Assets Cash 1,689, ,597 Cash committed for mineral exploration 91,920 - Deposits and Prepaid expense 22,400 3,150 GST and Interest receivable 9,179 3,697 1,813, ,444 Mineral Property (Note 4) 297,237 25,000 Total Assets 2,110, ,444 LIABILITIES AND SHAREHOLDERS EQUITY Current Liabilities Accounts payable and accrued liabilities 91,240 55,010 91,240 55,010 SHAREHOLDERS EQUITY Share Capital (Note 5) 2,337, ,482 Share Subscriptions - 259,800 Contributed Surplus 66,044 66,044 Deficit (383,763) (303,892) Total Shareholders Equity 2,019, ,434 Total Liabilities and Shareholders Equity 2,110, ,444 Nature of Operations (Note 1) Commitments (Note 4) Subsequent event (Note 10) Approved on behalf of the Board: /s/ Steve Jackson Steve Jackson, Director /s/ Harry Chew Harry Chew, Director (The accompanying notes are an integral part of the financial statements)

4 STATEMENTS OF OPERATIONS, COMPREHENSIVE INCOME (LOSS) AND DEFICIT (Unaudited - prepared by management) Three months 2010 Three months 2009 Nine months 2010 Nine months 2009 EXPENSES Bank charges and interest Filing and regulatory fees 655 7,500 20,857 16,742 Management fees 15,000-40,000 - Office expenses 1, ,384 3,502 Professional fees 20,250 15,337 39,348 29,672 Promotion and entertainment 1,221 4,157 6,471 6,988 Rent and administrative fees (Note 5) 9,000 6,000 27,000 15,000 Transfer agent and shareholder relations 2,598 1,342 7,049 3,962 Travel and accommodation ,071 Less: interest income - - (801) - 50,557 35, ,077 77,271 LOSS FOR THE PERIOD before income tax (50,557) (35,795) (145,077) (77,271) Income tax recovery ,206 - Net income (loss) and comprehensive income for the period (50,557) (35,795) (79,871) (77,271) DEFICIT, BEGINNING OF PERIOD (333,206) (206,612) (303,892) (165,136) DEFICIT, END OF PERIOD (383,763) (242,407) (383,763) (242,407) Basic and diluted loss per common share (0.00) (0.01) (0.00) (0.01) Weighted average number of common shares outstanding 31,374,450 6,014,450 19,664,853 6,014,450 (The accompanying notes are an integral part of the financial statements)

5 STATEMENTS OF CASH FLOWS (Unaudited - prepared by management) Three months 2010 Three months 2009 Nine months 2010 Nine months 2009 Operating Activities Net income (loss) for the period (50,557) (35,795) (79,871) (77,271) Items not involving cash Changes in non-cash working capital items: GST recoverable (3,136) (329) (4,681) (1,440) Interest receivable - - (801) - Deposits and prepaid expenses 19,075 - (19,250) (333) Accounts payable and accrued liabilities 78,710 2,256 36,229 7,020 44,092 (33,868) (68,374) (72,024) Financing Activities Proceeds from issuance of private placement, net of issuance costs - - 1,986,621 - Share subscription - - (259,800) - Due to related party Due to directors ,726,821 - Investing Activities Deferred mineral property costs (218,236) (25,000) (272,236) (25,000) INCREASE (DECREASE) IN CASH AND CASH EQUIVALENT (174,144) (58,868) 1,386,211 (97,024) CASH AND CASH EQUIVALENT, BEGINNING OF PERIOD 1,955, , , ,354 CASH AND CASH EQUIVALENT, END OF PERIOD 1,781, ,330 1,781, ,330 CASH AND CASH EQUIVALENTS CONSISTS OF: Cash 1,689, ,330 1,689, ,330 Cash committed for oil and gas exploration 91,920-91,920-1,781, ,330 1,781, ,330 NON-CASH INVESTING AND FINANCING ACTIVITIES Issuance of common shares for acquisition of mineral property 54,000-54,000 - Issuance of common shares for finder s fees 160, ,000 - (The accompanying notes are an integral part of the financial statements)

6 1. NATURE OF OPERATIONS The Company was incorporated on June 5, 2006 in British Columbia under the Business Corporations Act and on October 29, 2009, the Company changed its name to Taipan Resources Inc. The Company is in the process of acquiring and exploring its mineral properties and has not yet determined whether these properties contain mineral reserves that are economically recoverable. The continued operations of the Company and the recoverability of the amounts shown for mineral properties and related deferred costs is dependent upon the discovery of economically recoverable reserves, the ability of the Company to obtain the necessary financing to complete the development, and upon future profitable production. These financial statements have been prepared using Canadian generally accepted accounting principals on the basis of a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has experienced losses since inception and at 2010 had working capital of 1,722,147. Should the Company be unable to continue as a going concern, the realization of assets may be at amounts significantly less than carrying value. The continuation of the Company as a going concern is dependant on its ability to obtain additional equity capital to finance existing operations, attaining commercial production from its mineral properties, and attaining future profitable operations or positive cash flows. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. These financial statements do not give effect to any adjustments which would be necessary should the Company be unable to continue as a going concern and therefore be required to realized its assets and discharge its liabilities in other then the normal course of business and at amounts different from those reflected in the accompanying financial statements. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES a) Interim Financial Statements These interim unaudited financial statements have been prepared on the same basis as the annual financial statements and in the opinion of management, reflect all adjustments, which include normal recurring adjustments, necessary to present fairly the Company s financial position, results of operations and cash flows for the periods shown. The results of operations for such periods are not necessarily indicative of the results expected for a full year or for any future period. b) Estimates, Assumptions and Measurement Uncertainty The preparation of financial statements in conformity with Canadian generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Significant areas requiring the use of management estimates relate to the impairment of mineral property interests and the determination of reclamation obligations. Actual results could differ from those estimates. By their nature, these estimates are subject to measurement uncertainty and the effect on the financial statements of changes in such estimates in future periods could be significant.

7 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued c) Financial Instruments The Company s financial instruments are comprised of cash, deposits and prepaid expenses, GST receivable, due to related party, accounts payables and accrued liabilities. The fair values of these financial instruments approximate their respective fair values due to the relatively short-term maturity of these financial instruments. Financial instruments are measured and classified as follows: i) Held-for-trading financial instruments are measured at fair value. All gains and losses resulting form changes in their fair value are included in net earnings (loss) in the year in which they arise. Cash and cash equivalents classified as held-for-trading are measured at fair value. ii) Held-to-maturity investments, loans and receivables, and other financial liabilities are initially measured at fair value and subsequently measured at amortized cost. Amortization of premiums or discounts and transaction costs are amortized into net earnings (loss), using the effective interest method less any impairment. Receivables are classified as loans and accounts payable and accrued liabilities and due to related parties are classified as other financial liabilities. Interest income and interest expense are recorded in net income, as applicable. iii) Available-for-sale financial assets are measured at fair value, with unrealized gains and losses recorded in other comprehensive income until the asset is realized, at which time they will be recorded in net earnings (loss). Other than temporary impairments on available-for-sale financial assets are recorded in net earnings (loss). iv) Derivatives embedded in other financial instruments or non-financial contacts (the host instrument ) are treated as separate derivatives with fair value changes recognized in the statement of operations when their economic characteristics and risks are not clearly and closely related to those of the host instrument, and the combined instrument or contact is not held for trading. No reportable embedded derivatives were identified in a review of the Company s contacts d) Mineral Properties and Exploration Costs The Company records its interests in mineral properties at cost. All direct costs relating to the acquisition of these interests are capitalized until the properties to which they relate are placed into production, sold or abandoned. These costs will be amortized on the unit of production basis over the proven reserves of the related property following commencement of production. Proceeds received, as a result of the sale of a mineral property, will be applied first against the book value of the property, and any excess will be set off against deferred exploration costs. Exploration costs relating to mineral properties are deferred until the properties are brought into production, at which time the deferred exploration costs are to be amortized on a unit of production basis, or until the properties are abandoned or sold, at which time the deferred costs are written off. The mineral properties and exploration costs are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. When there is evidence of impairment, the net carrying amount of the asset will be written down to its net recoverable amount which is the estimated undiscounted future net cash flows expected to result from the asset and its eventual disposition. The loss on impairment written off is not reversed even if circumstances change and the net recoverable amount subsequently increases. The amounts shown as mineral properties and deferred exploration costs represent unamortized costs to date and do not necessarily reflect present or future values.

8 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued e) Basic and Diluted Loss Per Share Basic loss per share is computed by dividing the loss for the year by the weighted average number of common shares outstanding during the year. Diluted loss per share reflects the potential dilution that could occur if potentially dilutive securities were exercised or converted to common stock. The dilutive effect of options and warrants and their equivalent is computed by application of the treasury stock method and the effect of convertible securities by the if converted method. Fully diluted amounts are not presented when the effect of the computations are anti-dilutive. Accordingly, there is no difference in the amount presented for basic and diluted loss per share. f) Cash and cash equivalents The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. g) Stock-based Compensation The Company applies the fair value method of stock-based payments to all awards that are direct awards of stock, that call for settlement in cash or other assets or are stock appreciation rights that call for settlement by the issuance of equity instruments. Compensation expense is recognized over the applicable vesting period with a corresponding increase in contributed surplus. When the options are exercised, the exercise price proceeds together with the amount initially recorded in contributed surplus are credited to share capital. h) Income Taxes The Company accounts for income taxes using the asset and liability method, whereby future tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Future tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on future tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment. Future income tax assets are recognized to the extent that they are considered more likely than not to be realized. The valuation of future income tax assets is adjusted, if necessary, by the use of a valuation allowance to reflect the estimated realizable amount. At 2010, the Company recognized a valuation allowance equal to the full amount of net future tax asset. I) Flow-through Shares The Company records the tax effect related to the renounced reductions as a reduction of income tax expense in the statement of loss and deficit on the date that the Company renounces the deductions for investors. j) Risk Management The Company is engaged primarily in mineral exploration and manages related industry risk issues directly. The Company may be at risk for environmental issues and fluctuations in commodity pricing. Management is not aware of and does not anticipate any significant environmental remediation costs or liabilities in respect of its current operations. The Company is not exposed to significant credit concentration or interest rate risk. The Company s functional currency is the Canadian dollar. All current operations occur within Canada. There is currently no significant foreign exchange risk to the Company.

9 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued k) Comprehensive Income (loss) Comprehensive income (loss) reflects net income (loss) and other comprehensive income (loss) for the year. Other comprehensive income (loss) includes changes in unrealized foreign currency translation amounts arising from self-sustaining foreign operations, unrealized gains and losses on available-for-sale assets and changes in the fair value of derivatives designated as cash flow hedges to the extent they are effective. l) Hedges This standard is applicable when a company chooses to designate a hedging relationship for accounting purposes. It builds on the previous AcG-13, Hedging Relationships, and CICA 1650, Foreign Currency Translation, by specifying how hedge accounting is applied and what disclosures are necessary when it is applied. The Company had no hedging relationships as at 2010 and October 31, m) Asset Retirement Obligation The Company accounts for asset retirement obligations and site rehabilitation costs in accordance with the requirements of Canadian Institute of Chartered Accountants Handbook Section 3110 Asset Retirement Obligations. Under this policy, the present value of future closure obligations is recorded as a liability when that liability is incurred with a corresponding increase in carrying value of the related mining property assets. The increased carrying value of the mining property asset will be amortized over the life of the related mining assets on a unit of production basis when the property comes into production. The liability for asset retirement obligations is accreted to the amount ultimately payable over the period to the date it is paid. As at 2010 the Company has not recognized any asset retirement obligations. n) Reclassifications Certain of the prior period s figures have been reclassified to conform to the current period s presentation. 3. CHANGES IN ACCOUNTING POLICIES Recent accounting pronouncements (i) Goodwill and intangible assets CICA Handbook Section 3064 Goodwill and Intangible Assets (Section 3064) Replaces CICA Handbook Section 3062, Goodwill and Intangible Assets and establishes standards for the recognition, measurement and disclosure of goodwill and intangible assets. CICA Handbook Section 1000, Financial Statement Concepts is am to clarify criteria for recognition of an asset. CICA Handbook Section 3450, Research and Development Costs is replaced by guidance in Section EIC Revenues and Expenditures during the Pre-Operating Period is no longer applicable for entities that have adopted Section A number of other EIC abstracts have consequential amendments. CICA Accounting Guideline 11 deferred costs and to provide guidance of development costs as intangible assets under CICA These changes are effective for the Company commencing November 1, The Company is currently assessing the financial reporting impact of these standards.

10 3. CHANGES IN ACCOUNTING POLICIES - continued (ii) Business combinations The CICA issued three new accounting standards in January 2009: Section 1582, Business Combinations, Section 1601 Consolidated Financial Statements and Section 1602, Non-Controlling Interests. These new standards will be effective for fiscal years beginning on or after January 1, The Company is in the process of evaluating the requirements of the new standards. Section 1582 replaces Section 1581 and establishes standards for the accounting for a business combination. It provides the Canadian equivalent to International Financial Reporting Standards ( IFRS ) 3 Business Combinations. The Section applies prospectively to business combination for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after January 1, Section 1601 and 1602 together replaces Section 1600, Consolidated Financial Statements. Section 1601, establishes standards for the preparation of consolidated financial statements. Section 1601 applies to interim and annual consolidated financial statements relating to fiscal years beginning on or after January 1, Section 1602 establishes standards for accounting for a noncontrolling interest in a subsidiary in consolidated financial statements subsequent to a business combination. It is equivalent to the corresponding provisions of IFRS 1AS Consolidated and Separate Financial Statements and applies to interim and annual consolidated financial statements relating to fiscal years beginning on or after January 1, (iii) International Financial Reporting Standards (IFRS) In 2006, the Canadian Accounting Standards Board (AcSB) published a new strategic plan that will significantly affect financial reporting requirements for Canadian compliances. The AcSB strategic plan outlines the convergence of Canadian GAAP with IFRS over an expected five year transitional period. In February 2008, the AcSB announced that 2011 is the changeover date for publicly accountable companies to use IFRS, replacing Canadian GAAP. This date is for interim and annual financial statements relating to fiscal years beginning on or after January 1, The transition date of January 1, 2011 will require the restatement for comparative purposes of amounts reported by the Company for the year October 31, In July 2008, the Canadian Securities Administrators announced that early adoption will be allowed in 2009 subject to seeking exemptive relief. The Company is currently assessing the financial reporting impact of the transition to IFRS and the changeover date. 4. MINERAL PROPERTY Pursuant to an option agreement dated June 26, 2009, the Company was granted an option to acquire up to a 65% interest in the Lucky Joe Property comprised of 548 claims situated in the Yukon Territory. As consideration for the property, the Company paid 25,000. Under the terms of the agreement the Company is required to make option payments of 130,000, spend 2,000,000 in exploration expenditures and issue up to 500,000 shares over a four year period to earn a 51% interest in the property. The Company has an option to earn an additional 14% interest in the property by making additional option payments of 100,000 spending an additional 2,500,000 in exploration expenditures and issue up to an additional 500,000 shares over a two year period.

11 4. MINERAL PROPERTY - continued To earn 51% interest Option Share Payment Expenditure Amount Issuance Signing of the option agreement 25,000 (paid) November 6, ,000 (issued) November 2, , , ,000 November 2, , , ,000 November 2, , , ,000 November 2, , , ,000 To earn an additional 14% interest November 14, ,000 1,000, ,000 November 2, ,000 1,500, ,000 The Company issued 260,000 shares as a finder s fee in connection with this transaction at a deemed price of 39,000. The property is subject to a 1.5% net smelter return royalty. Under terms of the agreement the Company has the right to acquire one-half of the net smelter return royalty for 2,000,000, the issuance of a further 500,000 shares and the completion of a further 3,000,000 of exploration expenditures. 5. SHARE CAPITAL (a) Authorized: Unlimited number of common shares without par value. (b) Issued and fully paid - continued: Number Contributed of Shares Amount Surplus Balance, October 31, 2008 and ,014, ,482 66,044 Mineral property option payment 100,000 15,000 Mineral property finder s fee 260,000 39,000 Private placement 3,000, ,000 Share issue costs (7,173) Tax effect on flow through shares - (65,206) Balance, January 31, ,374, ,103 66,044 Private placement 20,000,000 1,600,000 Share issue costs (160,000) Private placement finder s fee 2,000, ,000 Balance, 2010 & April 30, ,374,450 2,337,103 66,044

12 5. SHARE CAPITAL continued (b) Issued and fully paid - continued: During the period April 30, 2010, the Company issued a total of 20,000,000 non-flow through units at 0.08 per unit for cash consideration of 1,600,000. Each unit consist of one share and one share purchase warrant. Each warrant entitles the holder to purchase one additional share at 0.12 for a period of five years. The Company issued 2,000,000 shares, as a finder s fee, with respect to the placement. During the period January 31, 2010, the Company issued a total of 1,500,000 flow-through units at 0.15 per unit for cash consideration of 225,000, and 1,500,000 non-flow through units at 0.12 per unit for cash consideration of 180,000. Each unit consist of one share and one share purchase warrant. Each warrant entitles the holder to purchase one additional share at for a period of two years. The company renounced 224,850 of eligible Canadian Exploration expenses in favour of flow-through shares. Accordingly, the amount will not be available to the Company for future deduction from taxable income. The Company paid 7,173, as a finder s fee, with respect to the placement. (c) Stock Options On May 3, 2010, the TSX Venture Exchange accepted for filing the Company s Stock Option Plan which was approved by the Company s shareholders at the Annual General Meeting held April 26, A rolling stock option plan has been implemented whereby a maximum of 10% of the issued shares will be reserved for issuance under the plan. The Company is to provide the Exchange a Form 4G at the end of each calendar month in which the stock options are granted. Shareholder approval must also be obtained yearly at the Company s Annual General Meeting and in addition, submitted for review and acceptance by the Exchange each year. On October 25, 2006 the Company granted stock options to directors and officers of the Company to acquire up to 600,000 common shares at an exercise price of 0.10 per share expiring five years after listing of the Company s shares on the TSX Venture Exchange. Subsequent to February 15, 2008, due to the resignation of an Officer of the Company, 125,000 options were cancelled leaving a balance of 475,000 options outstanding. During the year October 31, 2008, stock based compensation of 15,200 was expensed by the Company. There were no stock options exercised during the years October 31, 2009 and 2008, and the period April 30, The Company used the Black-Scholes Option Pricing Model to estimate the fair value of the options at the grant date using the following weighted average assumptions for the years October 31, 2008: Risk-free interest rate 4.07% Expected term in years 5 years Expected dividend yield 0.0% Expected volatility 104.7%

13 5. SHARE CAPITAL continued (d) Warrants 2010 October 31, 2009 Weighted Weighted Average Average Average Average Number of Exercise Number of Exercise Warrants Price Warrants Price Outstanding, beginning of year , Issued 6,944, Exercised Expired - - (225,550) 0.10 Outstanding, end of period 6,944, (e) Escrow Shares As at 2010, 2,250,000 (October 31, ,000,000) common shares of the Company are subject to escrow. Under the escrow agreement, 10% of the escrowed common shares have been released from escrow following issuance of the final Exchange bulletin ( Final Exchange Bulletin ) upon completion of the Qualifying Transaction and 15% will be released every six months thereafter over a period of thirty six months. If the Company meets the Exchange s Tier 1 status after receipt of the Final Exchange Bulletin, the release of escrow shares is accelerated. 6. RELATED PARTY TRANSACTIONS (a) During the period 2010, the Company paid or accrued management fees of 40,000 (2009 Nil) to a company controlled by the President of the Company. (b) During the period 2010, the Company paid or accrued rent and administration of 27,000 ( ,000) to a company controlled by a director and the President of the Company. (c) During the period 2010, the Company paid or accrued professional fees of 13,000 (2009 Nil) to a company controlled by a director of the Company. 7. MANAGEMENT OF CAPITAL The Company s objective when managing capital is to safeguard the Company s ability to continue as a going concern. The Company does not have any externally imposed capital requirements to which it is subject. As at 2010 the Company had capital resources consisting mainly of cash. The Company manages the capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristic of the underlying assets. To maintain or adjust the capital structure, the Company may attempt to issue common shares or dispose of assets or adjust the amount of cash.

14 8. FINANCIAL INSTRUMENTS As at 2010 the Company s financial instruments consists of cash, deposits and prepaid expense, receivables, accounts payable and accrued liabilities. Unless otherwise noted, it is management s option that the Company is not exposed to significant credit, liquidity or market risks arising from these financial instruments. The fair value of these financial instruments approximates their carrying value, unless otherwise noted. The risk exposure is summarized as follows: a) Credit risk Credit risk is the risk of an unexpected loss if a customer or third party to a financial instrument fails to meet its contractual obligations. The Company is subject to credit risk on the cash balance at the bank and accounts receivable. The cash is held in Canadian based banking institutions, authorized under the Bank Act to accept deposits, which may be eligible for deposit insurance provided by the Canadian Deposit Insurance Corporation. The receivables consist of goods and services recoverable of 8,378 and interest receivable of 801. b) Liquidity risk The Company s approach to managing liquidity is to ensure that it will have sufficient liquidity to settle obligations and liabilities when due. As at 2010, the Company had a cash balance of 1,781,808 to settle current liabilities of 91,240 which mainly consists of accounts payable that are considered short term and settled within 30 days. Management estimates its capital requirements for 2010 to be approximately 384,000, which includes 264,000 on exploration related expenditures as budgeted in the Company s report. This cost estimate does not include expenses related to the evaluation of potential business or asset acquisition. c) Market risk (i) Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company s cash attract interest at floating rates and have maturities of 90 days or less. The interest is typical of Canadian banking rates, which are at present low, however the conservative investment strategy mitigates the risk of deterioration to the investment. A change of 100 basis points in the interest rates would not be material to the financial statements. (ii) Foreign currency risk d) Fair value The Company s financial assets and liabilities are not exposed to foreign currency risk. The carrying values of cash deposits, receivables, accounts payable and accrued liabilities and due to related party approximates their respective fair values due to the short-term nature of these instruments. 10. SUBSEQUENT EVENT On September 3, 2010, the Company announced the appointment Mr. Stephen B. Jackson to its board of directors effective August 31, Also effective August 31, 2010, Mr. Sonny Chew has stepped down from the Company s board of directors and as Chief Executive Officer. Mr. Jackson will take on the role of Chief Executive Officer with this vacancy left by Mr. Chew.

COBRA VENTURE CORPORATION. INTERIM FINANCIAL STATEMENTS (Unaudited Prepared by Management) THREE MONTHS ENDED FEBRUARY 28, 2009

COBRA VENTURE CORPORATION. INTERIM FINANCIAL STATEMENTS (Unaudited Prepared by Management) THREE MONTHS ENDED FEBRUARY 28, 2009 INTERIM FINANCIAL STATEMENTS THREE MONTHS ENDED 1 UNAUDITED INTERIM FINANCIAL STATEMENTS In accordance with National Instrument 51-102 released by the Canadian Securities Administrators, the Company discloses

More information

ARCTURUS VENTURES INC. (An Exploration Stage Company)

ARCTURUS VENTURES INC. (An Exploration Stage Company) Condensed Consolidated Interim Financial Statements Nine month period ended March 31, 2015 (Expressed in Canadian dollars) (Unaudited Prepared by Management) 1 NOTICE TO READERS The accompanying unaudited

More information

HIGHLAND RESOURCES INC. FINANCIAL STATEMENTS. May 31, 2011. (Stated in Canadian Dollars)

HIGHLAND RESOURCES INC. FINANCIAL STATEMENTS. May 31, 2011. (Stated in Canadian Dollars) HIGHLAND RESOURCES INC. FINANCIAL STATEMENTS May 31, 2011 (Stated in Canadian Dollars) Tel: 604 688 5421 Fax: 604 688 5132 www.bdo.ca BDO Canada LLP 600 Cathedral Place 925 West Georgia Street Vancouver

More information

(An Exploration Stage Company) Condensed Interim Financial Statements (Unaudited Prepared by Management) (Expressed in Canadian Dollars)

(An Exploration Stage Company) Condensed Interim Financial Statements (Unaudited Prepared by Management) (Expressed in Canadian Dollars) Condensed Interim Financial Statements () Corporate Head Office 2300-1177 West Hastings Street Vancouver, BC Canada V6E 2K3 Tel: 604-638-3664 NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS

More information

MASUPARIA GOLD CORPORATION

MASUPARIA GOLD CORPORATION CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS THREE MONTHS ENDED DECEMBER 31, 2011 and 2010 (expressed in Canadian Dollars) NOTICE TO READERS Under National Instrument 51-102, Part 4.3 (3)(a), if

More information

SUB Capital Inc. (A Development Stage Company) Financial Statements Years ended April 30, 2010 and 2009

SUB Capital Inc. (A Development Stage Company) Financial Statements Years ended April 30, 2010 and 2009 (A Development Stage Company) Financial Statements Management s Responsibility for Financial Reporting The accompanying consolidated financial statements of SUB Capital Inc. (the Company ) have been prepared

More information

QUINSAM CAPITAL CORPORATION INTERIM FINANCIAL STATEMENTS FOR THE THIRD QUARTER ENDED SEPTEMBER 30, 2015 (UNAUDITED AND EXPRESSED IN CANADIAN DOLLARS)

QUINSAM CAPITAL CORPORATION INTERIM FINANCIAL STATEMENTS FOR THE THIRD QUARTER ENDED SEPTEMBER 30, 2015 (UNAUDITED AND EXPRESSED IN CANADIAN DOLLARS) INTERIM FINANCIAL STATEMENTS FOR THE THIRD QUARTER ENDED SEPTEMBER 30, (UNAUDITED AND EXPRESSED IN CANADIAN DOLLARS) NOTICE TO READER Under National Instrument 51-102, Part 4, subsection 4.3(3) (a), if

More information

Interim Unaudited Condensed Consolidated Financial Statements December 31, 2013

Interim Unaudited Condensed Consolidated Financial Statements December 31, 2013 Interim Unaudited Condensed Consolidated Financial Statements December 31, February 28, 2014 Management s Report The accompanying interim unaudited condensed consolidated financial statements ( financial

More information

INDICO RESOURCES LTD (An Exploration Stage Company) FINANCIAL STATEMENTS (Expressed in Canadian Dollars)

INDICO RESOURCES LTD (An Exploration Stage Company) FINANCIAL STATEMENTS (Expressed in Canadian Dollars) FINANCIAL STATEMENTS Financial Statements May 31, 2009 INDEX Page Auditor Report Financial Statements Balance Sheets 1 Statements of Operations and Comprehensive Loss 2 Statements of Cash Flows 3 Statement

More information

ASTUR GOLD CORP. INTERIM CONSOLIDATED FINANCIAL STATEMENTS NINE MONTH PERIOD ENDED AUGUST 31, 2011

ASTUR GOLD CORP. INTERIM CONSOLIDATED FINANCIAL STATEMENTS NINE MONTH PERIOD ENDED AUGUST 31, 2011 INTERIM CONSOLIDATED FINANCIAL STATEMENTS NINE MONTH PERIOD ENDED UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS In accordance with National Instrument 51-102 released by the Canadian Securities Administrators,

More information

Condensed Interim Consolidated Financial Statements

Condensed Interim Consolidated Financial Statements Condensed Interim Consolidated Financial Statements Unaudited (Expressed in Canadian dollars) NOTICE TO READER: These condensed interim consolidated financial statements have not been reviewed by the Company's

More information

CONSOLIDATED FINANCIAL STATEMENTS

CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) (Expressed in Canadian Dollar) and 2007 Index Balance Sheets Statements of Operations, Comprehensive Loss and Deficit Statements of Cash Flows Notes to Financial

More information

BLACKHEATH RESOURCES INC. FINANCIAL STATEMENTS 31 DECEMBER 2011

BLACKHEATH RESOURCES INC. FINANCIAL STATEMENTS 31 DECEMBER 2011 FINANCIAL STATEMENTS April 26, 2012 Independent Auditor s Report To the Shareholders of Blackheath Resources Inc. We have audited the accompanying financial statements of Blackheath Resources Inc., which

More information

Border Petroleum Limited Condensed Consolidated Interim Financial Statements

Border Petroleum Limited Condensed Consolidated Interim Financial Statements Condensed Consolidated Interim Financial Statements (Unaudited) For the Three and Six Months Ended September 30, 2014 and 2013 NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL RESULTS Pursuant to National

More information

METALLIC MINERALS CORP.

METALLIC MINERALS CORP. CONDENSED INTERIM FINANCIAL STATEMENTS FOR THE THREE MONTH PERIOD ENDED OCTOBER 31, 2016 NOTICE OF AUDITOR REVIEW The accompanying unaudited condensed interim financial statements have been prepared by

More information

GUYANA GOLDFIELDS INC.

GUYANA GOLDFIELDS INC. Interim Consolidated Financial Statements MANAGEMENT'S RESPONSIBILITY FOR FINANCIAL REPORTING The accompanying unaudited interim consolidated financial statements of Guyana Goldfields Inc. (An exploration

More information

Condensed Interim Financial Statements of MANITOU GOLD INC. Three months ended March 31, 2011 (Unaudited prepared by management)

Condensed Interim Financial Statements of MANITOU GOLD INC. Three months ended March 31, 2011 (Unaudited prepared by management) Condensed Interim Financial Statements of MANITOU GOLD INC. (Unaudited prepared by management) NOTICE TO READER The condensed interim balance sheets of Manitou Gold Inc. as at March 31, 2011 and December

More information

QUARTERLY AND YEAR END REPORT BC FORM 51-901F (previously Form 61)

QUARTERLY AND YEAR END REPORT BC FORM 51-901F (previously Form 61) British Columbia Securities Commission QUARTERLY AND YEAR END REPORT BC FORM 51-901F (previously Form 61) Freedom of Information and Protection of Privacy Act: The personal information requested on this

More information

Khan Resources Inc. Interim Consolidated Balance Sheets (Expressed in United States dollars) (All dollar amounts are in thousands) (Unaudited)

Khan Resources Inc. Interim Consolidated Balance Sheets (Expressed in United States dollars) (All dollar amounts are in thousands) (Unaudited) Interim Consolidated Balance Sheets (All dollar amounts are in thousands) March 31, September 30, 2008 2007 Assets Current Cash $ 32,105 $ 33,859 Accounts receivable 52 47 Prepaid expenses and other assets

More information

GEOLOGIX EXPLORATIONS INC. CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2003

GEOLOGIX EXPLORATIONS INC. CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2003 CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2003 AUDITORS REPORT To the Shareholders of Geologix Explorations Inc.: We have audited the consolidated balance sheets of Geologix Explorations Inc. as at

More information

COREX GOLD CORPORATION (An Exploration Stage Company)

COREX GOLD CORPORATION (An Exploration Stage Company) Consolidated Financial Statements of: COREX GOLD CORPORATION (un-audited prepared by management) NOTICE TO READERS CONSOLIDATED BALANCE SHEETS CONSOLIDATED STATEMENTS OF LOSS AND DEFICIT CONSOLIDATED STATEMENTS

More information

COPPER FOX METALS INC.

COPPER FOX METALS INC. Financial Statements of COPPER FOX METALS INC. Period from date of incorporation on February 27, 2004 to December 31, 2004 KPMG LLP Chartered Accountants Telephone (403) 691-8000 200-205 5 Avenue SW Fax

More information

CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS Six months ended 2016 and 2015 (Unaudited Prepared by Management) NOTICE OF NO AUDITOR REVIEW OF CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

More information

NULEGACY GOLD CORPORATION

NULEGACY GOLD CORPORATION Consolidated Financial Statements NULEGACY GOLD CORPORATION REPORT OF INDEPENDENT REGISTERED CHARTERED ACCOUNTANTS To the Shareholders of NuLegacy Gold Corp., We have audited the accompanying consolidated

More information

OPAWICA EXPLORATIONS INC.

OPAWICA EXPLORATIONS INC. (An Exploration Stage Company) CONDENSED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED FEBRUARY 28, 2015 AND 2014 UNAUDITED NO AUDITOR REVIEW OF CONDENSED INTERIM FINANCIAL STATEMENTS These unaudited

More information

TITANIUM CORPORATION INC. (A Development Stage Company) FINANCIAL STATEMENTS AUGUST 31, 2006 and 2005

TITANIUM CORPORATION INC. (A Development Stage Company) FINANCIAL STATEMENTS AUGUST 31, 2006 and 2005 TITANIUM CORPORATION INC. FINANCIAL STATEMENTS AUGUST 31, 2006 and 2005 PricewaterhouseCoopers LLP Chartered Accountants PO Box 82 Royal Trust Tower, Suite 3000 Toronto Dominion Centre Toronto, Ontario

More information

Uniserve Communications Corporation

Uniserve Communications Corporation Consolidated financial statements of Uniserve Communications Corporation Nine months ended (Unaudited) NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS The accompanying unaudited interim Consolidated

More information

BIOMARK DIAGNOSTICS INC. CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS. June 30, 2015. (Stated in Canadian Dollars)

BIOMARK DIAGNOSTICS INC. CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS. June 30, 2015. (Stated in Canadian Dollars) CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Unaudited Prepared by Management) NOTICE OF NO AUDITOR REVIEW OF CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS Under National Instrument 51-102,

More information

MIDPOINT HOLDINGS LTD. CONSOLIDATED FINANCIAL STATEMENTS. (Expressed in Canadian Dollars) FOR THE YEAR ENDED JUNE 30, 2015

MIDPOINT HOLDINGS LTD. CONSOLIDATED FINANCIAL STATEMENTS. (Expressed in Canadian Dollars) FOR THE YEAR ENDED JUNE 30, 2015 CONSOLIDATED FINANCIAL STATEMENTS (Expressed in Canadian Dollars) FOR THE YEAR ENDED JUNE 30, 2015 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS INDEPENDENT AUDITORS REPORT PAGES 1-2 CONSOLIDATED STATEMENTS

More information

AMENDED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS PERIOD ENDED JULY 31, 2015. (Expressed in Canadian Dollars)

AMENDED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS PERIOD ENDED JULY 31, 2015. (Expressed in Canadian Dollars) AMENDED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS PERIOD ENDED JULY 31, 2015 1 NOTICE OF NO AUDITOR REVIEW OF CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS Under National Instrument 51-102,

More information

ARROWSTAR RESOURCES LTD. CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS SEPTEMBER 30, 2012. (Unaudited - Expressed in Canadian Dollars)

ARROWSTAR RESOURCES LTD. CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS SEPTEMBER 30, 2012. (Unaudited - Expressed in Canadian Dollars) CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS Suite 507-475 Howe Street Vancouver, BC, Canada, V6C 2B3 Tel: 604-687-7828 Fax: 604-687-7848 www.arrowstarresources.com NOTICE TO READER Pursuant to

More information

CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS September 30, 2015 (Unaudited) TSX-V: ANF. www.anfieldnickel.com

CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS September 30, 2015 (Unaudited) TSX-V: ANF. www.anfieldnickel.com CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS September 30, 2015 () TSX-V: ANF www.anfieldnickel.com NOTICE OF NO AUDITOR REVIEW The unaudited condensed consolidated interim financial statements,

More information

Consolidated Financial Statements March 31, (A Development Stage Entity)

Consolidated Financial Statements March 31, (A Development Stage Entity) Consolidated Financial Statements March 31, 2009 Unaudited Interim Consolidated Financial Statements For the Three-Month Period Ended March 31, 2009 Notice to Reader Management has compiled the unaudited

More information

Condensed Consolidated Interim Financial Statements of Cornerstone Capital Resources Inc. For the nine months ended September 30, 2011 and 2010

Condensed Consolidated Interim Financial Statements of Cornerstone Capital Resources Inc. For the nine months ended September 30, 2011 and 2010 Condensed Consolidated Interim Financial Statements of Cornerstone Capital Resources Inc. For the nine months ended September 30, 2011 and 2010 (Unaudited) NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL

More information

NSS RESOURCES INC. FINANCIAL STATEMENTS. (Expressed in Canadian Dollars) For the three months ended September 30, 2015 and 2014

NSS RESOURCES INC. FINANCIAL STATEMENTS. (Expressed in Canadian Dollars) For the three months ended September 30, 2015 and 2014 NSS RESOURCES INC. FINANCIAL STATEMENTS () and 2014 Index to Financial Statements September 30, 2015 NOTICE OF NO AUDITOR REVIEW 1 Page FINANCIAL STATEMENTS Statements of Financial Position 2 Statements

More information

LNG ENERGY LTD. CONSOLIDATED FINANCIAL STATEMENTS

LNG ENERGY LTD. CONSOLIDATED FINANCIAL STATEMENTS LNG ENERGY LTD. CONSOLIDATED FINANCIAL STATEMENTS September 30, 2009 and 2008 (stated in Canadian Dollars) KPMG LLP Chartered Accountants Telephone (403) 691-8000 2700-205 5 Avenue SW Telefax (403) 691-8008

More information

Interim Financial Statements. Opsens Inc. (after merger) Three-month period ended November 30, 2006

Interim Financial Statements. Opsens Inc. (after merger) Three-month period ended November 30, 2006 Interim Financial Statements Opsens Inc. (after merger) Three-month period ended Interim Financial Statements Three-month period ended Notice These interim financial statements have not been reviewed by

More information

Auditors' Report. To the Shareholders of Titanium Corporation Inc.

Auditors' Report. To the Shareholders of Titanium Corporation Inc. Auditors' Report To the Shareholders of Titanium Corporation Inc. We have audited the balance sheets of Titanium Corporation Inc. as at and the statements of operations and deficit and cash flows for the

More information

Interim Consolidated Financial Statements (Unaudited)

Interim Consolidated Financial Statements (Unaudited) Terasen Gas Inc. A subsidiary of Fortis Inc. Interim Consolidated Financial Statements (Unaudited) For the three and six months ended June 30, 2008 FOR MORE INFORMATION ABOUT TERASEN GAS VISIT OUR WEBSITE

More information

GUYANA GOLDFIELDS INC.

GUYANA GOLDFIELDS INC. Condensed Consolidated Interim Financial Statements (Unaudited, Expressed in United States Dollars) Three and Nine Months Ended July 31, 2013 Guyana Goldfields Inc. Condensed Consolidated Interim Balance

More information

Unaudited Interim Consolidated Financial Statements March 31, 2011. West African Iron Ore Corp. (formerly Westward Explorations Ltd.

Unaudited Interim Consolidated Financial Statements March 31, 2011. West African Iron Ore Corp. (formerly Westward Explorations Ltd. Unaudited Interim Consolidated Financial Statements March 31, 2011 West African Iron Ore Corp. NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS These accompanying unaudited interim consolidated

More information

IMPACT Silver Corp. Interim Consolidated Financial Statements March 31, 2009 Unaudited

IMPACT Silver Corp. Interim Consolidated Financial Statements March 31, 2009 Unaudited Interim Consolidated Financial Statements Statement 1 Consolidated Balance Sheets ASSETS March 31 2009 December 31 2008 Current Cash and cash equivalents $ 5,357,480 $ 5,433,480 Accounts receivable and

More information

MEDALLION RESOURCES LTD. INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MEDALLION RESOURCES LTD. INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (An Exploration-Stage Company) INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION INTERIM CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE

More information

AUDIOTECH HEALTHCARE CORPORATION

AUDIOTECH HEALTHCARE CORPORATION Consolidated Financial Statements of AUDIOTECH HEALTHCARE CORPORATION Year ended September 30, 2008 1 CHARTERED ACCOUNTANTS MacKay LLP 1100 1177 West Hastings Street Vancouver, BC V6E 4T5 Tel: (604) 687-4511

More information

NovaCopper Inc. (An Exploration-Stage Company) Interim Consolidated Financial Statements August 31, 2014 Unaudited (expressed in US dollars)

NovaCopper Inc. (An Exploration-Stage Company) Interim Consolidated Financial Statements August 31, 2014 Unaudited (expressed in US dollars) (An ExplorationStage Company) Interim Consolidated Financial Statements Unaudited (expressed in US dollars) Table of Contents Consolidated Balance Sheets...3 Consolidated Statements of Loss and Comprehensive

More information

KEEGAN RESOURCES INC.

KEEGAN RESOURCES INC. ` KEEGAN RESOURCES INC. Consolidated Financial Statements BDO Dunwoody LLP Chartered Accountants 600 Cathedral Place 925 West Georgia Street Vancouver, BC, Canada V6C 3L2 Telephone: (604) 688-5421 Telefax:

More information

Pivot Technology Solutions, Inc.

Pivot Technology Solutions, Inc. Interim Condensed Consolidated Financial Statements Pivot Technology Solutions, Inc. For the Three Months Ended (Unaudited) (Expressed in Thousands of U.S. Dollars) INTERIM CONDENSED CONSOLIDATED STATEMENTS

More information

MAGNA RESOURCES LTD. An Exploration Stage Enterprise

MAGNA RESOURCES LTD. An Exploration Stage Enterprise INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JANUARY 31, (Unaudited - Prepared by Management) These financial statements have not been reviewed by the Company s auditors. CONSOLIDATED

More information

RESERVOIR CAPITAL CORP. CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Expressed in Canadian dollars)

RESERVOIR CAPITAL CORP. CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Expressed in Canadian dollars) CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS SIX MONTHS ENDED OCTOBER 31, 2016 AND 2015 (Unaudited) NOTICE TO READER The accompanying unaudited condensed consolidated interim financial statements

More information

RJK Explorations Ltd. Balance Sheet

RJK Explorations Ltd. Balance Sheet Balance Sheet March 31, December 31, (Unaudited) (Audited) Assets Current Assets Cash and cash equivalents $ 226,794 $ 4,744 GST recoverable 5,453 113 232,247 4,857 Mineral properties and deferred expenditures

More information

DEFIANCE SILVER CORP. (an exploration stage company) CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED DECEMBER 31, 2015

DEFIANCE SILVER CORP. (an exploration stage company) CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED DECEMBER 31, 2015 (an exploration stage company) CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED DECEMBER 31, (expressed in Canadian dollars) NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL

More information

Expressed in Canadian Dollars - Unaudited

Expressed in Canadian Dollars - Unaudited Hatch Interactive Technologies Corp. (Formerly Tosca Resources Corp.) Consolidated Interim Financial Report For the three and nine month periods ended August 31, 2015 Expressed in Canadian Dollars - Unaudited

More information

NUVISTA ENERGY LTD. Consolidated Statements of Financial Position (unaudited)

NUVISTA ENERGY LTD. Consolidated Statements of Financial Position (unaudited) NUVISTA ENERGY LTD. Consolidated Statements of Financial Position (unaudited) ($Cdn thousands) Assets Current assets Cash and cash equivalents $ - $ - Accounts receivable and prepaids 35,443 30,317 Assets

More information

Consolidated Financial Statements of MONUMENT MINING LIMITED (FORMERLY MONCOA CORPORATION) Three Months Ended as at September 30, 2007

Consolidated Financial Statements of MONUMENT MINING LIMITED (FORMERLY MONCOA CORPORATION) Three Months Ended as at September 30, 2007 Consolidated Financial Statements of MONUMENT MINING LIMITED (FORMERLY MONCOA CORPORATION) Three Months Ended as at September 30, 2007 UNAUDITED INTERIM FINANCIAL STATEMENT In accordance with National

More information

OVID CAPITAL VENTURES INC./ ENTREPRISES OVID CAPITAL INC. CONDENSED INTERIM FINANCIAL STATEMENTS (Unaudited - See Notice to Reader) March 31, 2015

OVID CAPITAL VENTURES INC./ ENTREPRISES OVID CAPITAL INC. CONDENSED INTERIM FINANCIAL STATEMENTS (Unaudited - See Notice to Reader) March 31, 2015 CONDENSED INTERIM FINANCIAL STATEMENTS March 31, MARCH 31, CONTENTS Page NOTICE TO READER 2 FINANCIAL STATEMENTS Unaudited Condensed Interim Statement of Financial Position 3 Unaudited Condensed Interim

More information

EXPLOREX RESOURCES INC.

EXPLOREX RESOURCES INC. EXPLOREX RESOURCES INC. INTERIM FINANCIAL STATEMENTS (Expressed in Canadian Dollars) SEPTEMBER 30, 2015 (Unaudited Prepared by Management) NOTICE OF NO AUDITOR REVIEW OF CONSOLIDATED INTERIM FINANCIAL

More information

Chesapeake Gold Corp.

Chesapeake Gold Corp. Condensed Consolidated Interim Financial Statements June 30, 2015 Second Quarter (unaudited - expressed in thousands of Canadian dollars, except where indicated) Condensed Consolidated Interim Statements

More information

ANGEL GOLD CORP. (formerly Caerus Resource Corporation) (An Exploration Stage Company)

ANGEL GOLD CORP. (formerly Caerus Resource Corporation) (An Exploration Stage Company) (An Exploration Stage Company) Condensed Consolidated Interim Financial Statements These unaudited condensed consolidated interim financial statements of Angel Gold Corp. (formerly Caerus Resource Corporation)

More information

Cynk Technology Corp. (A Development Stage Company) (formerly Introbuzz) Balance Sheets

Cynk Technology Corp. (A Development Stage Company) (formerly Introbuzz) Balance Sheets Cynk Technology Corp. (A Development Stage Company) (formerly Introbuzz) Balance Sheets ASSETS March 31, December 2014 31, 2013 ------- --------- Current Assets Cash and cash equivalents $ 39 $ 39 --------

More information

Grenville Strategic Royalty Corp (formally Troon Ventures Ltd.) Consolidated Financial Statements For the Year Ended December 31, 2014

Grenville Strategic Royalty Corp (formally Troon Ventures Ltd.) Consolidated Financial Statements For the Year Ended December 31, 2014 Grenville Strategic Royalty Corp (formally Troon Ventures Ltd.) Consolidated Financial Statements For the Year Ended Contents Independent Auditors Report... 2 Consolidated Statements of Financial Position...

More information

GLADIATOR MINERALS INC. INTERIM FINANCIAL STATEMENTS MARCH 31, 2001. (Unaudited prepared by management)

GLADIATOR MINERALS INC. INTERIM FINANCIAL STATEMENTS MARCH 31, 2001. (Unaudited prepared by management) INTERIM FINANCIAL STATEMENTS MARCH 31, 2001 INTERIM BALANCE SHEETS FOR THE THREE MONTH PERIOD ENDED MARCH 31 March 31 2001 December 31 2000 ASSETS Current Cash $ 28 $ - Receivables - - Marketable securities

More information

Consolidated financial statements of. BIOX Corporation. For the three month periods ended December 31, 2010 and 2009. (Unaudited)

Consolidated financial statements of. BIOX Corporation. For the three month periods ended December 31, 2010 and 2009. (Unaudited) Consolidated financial statements of BIOX Corporation Table of contents Consolidated statements of operations and comprehensive income (loss)... 1 Consolidated statements of deficit... 2 Consolidated balance

More information

NUVISTA ENERGY LTD. Consolidated Statements of Financial Position (unaudited)

NUVISTA ENERGY LTD. Consolidated Statements of Financial Position (unaudited) NUVISTA ENERGY LTD. Consolidated Statements of Financial Position (unaudited) ($Cdn thousands) Assets Current assets Cash and cash equivalents $ - $ - Accounts receivable and prepaids 42,980 30,317 Assets

More information

Jagercor Energy Corp. Condensed Interim Consolidated Financial Statements (Unaudited Prepared by Management) (Expressed in Canadian dollars) For the

Jagercor Energy Corp. Condensed Interim Consolidated Financial Statements (Unaudited Prepared by Management) (Expressed in Canadian dollars) For the Condensed Interim Consolidated Financial Statements (Unaudited Prepared by Management) For the six months ended NOTICE OF NO AUDITOR REVIEW UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

More information

Sunora Foods Inc. Condensed Interim Consolidated Financial Statements For the three months ended March 31, 2016 (unaudited)

Sunora Foods Inc. Condensed Interim Consolidated Financial Statements For the three months ended March 31, 2016 (unaudited) Condensed Interim Consolidated Financial Statements For the three months ended March 31, 2016 (unaudited) 1 Consolidated Balance Sheet (audited) March 31, December 31, Assets 2016 2015 Current assets Cash

More information

Condensed Interim Consolidated Financial Statements Three months ended July 31, 2012 (Unaudited)

Condensed Interim Consolidated Financial Statements Three months ended July 31, 2012 (Unaudited) Condensed Interim Consolidated Financial Statements Three months ended July 31, 2012 (Unaudited) 500 435-4 th Avenue S.W. Calgary, AB T2P 3A8 Tel: 403-984-9798 NOTICE TO READER These condensed interim

More information

FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2013

FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2013 FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2013 (EXPRESSED IN CANADIAN DOLLARS) Notice to Reader These interim financial statements of Resinco Capital Partners Inc. have been prepared by

More information

NEWMARKET GOLD INC. CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS. For the Three and Six Months Ended June 30, 2015 and 2014

NEWMARKET GOLD INC. CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS. For the Three and Six Months Ended June 30, 2015 and 2014 NEWMARKET GOLD INC. CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Expressed in Canadian Dollars - Unaudited) NOTICE OF NO AUDITOR REVIEW Under National Instrument 51-102, Part 4, subsection 4.3(3)

More information

PYROGENESIS CANADA INC. AMENDED FINANCIAL STATEMENTS FOR THE INTERIM PERIOD ENDED JUNE 30, 2011

PYROGENESIS CANADA INC. AMENDED FINANCIAL STATEMENTS FOR THE INTERIM PERIOD ENDED JUNE 30, 2011 PYROGENESIS CANADA INC. AMENDED FINANCIAL STATEMENTS FOR THE INTERIM PERIOD ENDED JUNE 30, 2011 The unaudited interim condensed consolidated financial statements of (the Company ) for the three and six

More information

As at June 30, 2010 December 31, 2009

As at June 30, 2010 December 31, 2009 LAKE SHORE GOLD CORP. CONSOLIDATED BALANCE SHEETS (in thousands of dollars) (Unaudited) As at June 30, 2010 December 31, 2009 Assets Current Cash and cash equivalents $69,929 $132,920 Exploration advances

More information

Abacus Mining & Exploration Corporation (an exploration stage company) Condensed Interim Financial Statements March 31, 2013.

Abacus Mining & Exploration Corporation (an exploration stage company) Condensed Interim Financial Statements March 31, 2013. Abacus Mining & Exploration Corporation (an exploration stage company) Condensed Interim Financial Statements 2013 (Unaudited) (Expressed in Canadian dollars) Index Page Notice to reader 2 Financial statements:

More information

OPEL INTERNATIONAL INC. Consolidated Financial Statements Years ended December 31, 2009 and 2008

OPEL INTERNATIONAL INC. Consolidated Financial Statements Years ended December 31, 2009 and 2008 Consolidated Financial Statements Years ended December 31, 2009 and 2008 CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2009 2008 Assets Current Cash and cash equivalents $ 5,027,892 $ 14,444,975 Short-term

More information

Condensed Interim Consolidated Financial Statements Six months ended October 31, 2011 (Unaudited)

Condensed Interim Consolidated Financial Statements Six months ended October 31, 2011 (Unaudited) Condensed Interim Consolidated Financial Statements Six months ended October 31, 2011 (Unaudited) 500 435-4 th Avenue S.W. Calgary, AB T2P 3A8 Tel: 403-984-9798 NOTICE TO READER These condensed interim

More information

FINANCIAL STATEMENTS. For the years ended August 31, 2016 and August 31, (Expressed in Canadian Dollars)

FINANCIAL STATEMENTS. For the years ended August 31, 2016 and August 31, (Expressed in Canadian Dollars) FINANCIAL STATEMENTS For the years ended August 31, 2016 and August 31, 2015 To the Shareholders of Lotus Ventures Inc., INDEPENDENT AUDITORS REPORT We have audited the accompanying financial statements

More information

BRISIO INNOVATIONS INC.

BRISIO INNOVATIONS INC. Unaudited Condensed Interim Consolidated Financial Statements (Expressed in Canadian dollars) Index Notice of No Auditor Review of Interim Financial Statements Condensed Interim Consolidated Financial

More information

FALCON OIL & GAS LTD.

FALCON OIL & GAS LTD. Interim Condensed Consolidated Financial Statements Three and Six Months Ended June 30, 2012 and 2011 (Presented in U.S. Dollars) Interim Condensed Consolidated Statements of Financial Position (Unaudited)

More information

Condensed Interim Consolidated Financial Statements

Condensed Interim Consolidated Financial Statements Khan Resources Inc. Condensed Interim Consolidated Financial Statements June 30, 2015 In thousands of Canadian dollars (unaudited) NOTICE OF NO AUDITOR REVIEW OF INTERIM STATEMENTS The accompanying unaudited

More information

Nature of operations and basis of preparation (Note 1) Commitments and contingencies (Note 10) Subsequent events (Note 12)

Nature of operations and basis of preparation (Note 1) Commitments and contingencies (Note 10) Subsequent events (Note 12) Unaudited Interim Consolidated Financial Statements For the nine months ended September 30, 2005 Contents Interim Consolidated Financial Statements Interim Consolidated Balance Sheets Interim Consolidated

More information

March 25, 2008. To the Shareholders of WesternZagros Resources Ltd.

March 25, 2008. To the Shareholders of WesternZagros Resources Ltd. WESTERNZAGROS : MANAGEMENT S RESPONSIBILITY FOR FINANCIAL REPORTING Management is responsible for the reliability and integrity of the consolidated financial statements, the notes to the consolidated financial

More information

WESTFIELD REAL ESTATE INVESTMENT TRUST

WESTFIELD REAL ESTATE INVESTMENT TRUST Unaudited Financial Statements of WESTFIELD REAL ESTATE INVESTMENT TRUST Period from January 1, 2005 to March 31, 2005 BALANCE SHEET Assets March 31 2005 (unaudited) December 31 2004 (audited) Income-producing

More information

HELIO RESOURCE CORP.

HELIO RESOURCE CORP. HELIO RESOURCE CORP. INTERIM CONSOLIDATED FINANCIAL STATEMENTS For the three month period ended June 30, 2008 Expressed in Notice to Reader: As required by National Instrument 51-102 subsection 4.3(3)(a),

More information

CONSOLIDATED FINANCIAL STATEMENTS

CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2010 BANKERS PETROLEUM LTD. CONSOLIDATED BALANCE SHEETS (Unaudited, expressed in thousands of US dollars) ASSETS June 30 2010 December 31 2009 Current assets

More information

Consolidated Financial Statements of. For the years ended September 30, 2012 and 2011 (Prepared in Canadian Dollars) Contents

Consolidated Financial Statements of. For the years ended September 30, 2012 and 2011 (Prepared in Canadian Dollars) Contents Consolidated Financial Statements of For the years ended September 30, 2012 and 2011 (Prepared in Canadian Dollars) Contents Independent Auditors Report 2 Consolidated Financial Statements Consolidated

More information

AcuityAds Inc. Condensed Consolidated Interim Financial Statements. Three months ended March 31, 2014 and 2013 (Unaudited)

AcuityAds Inc. Condensed Consolidated Interim Financial Statements. Three months ended March 31, 2014 and 2013 (Unaudited) AcuityAds Inc. Condensed Consolidated Interim Financial Statements Condensed Consolidated Interim Statements of Financial Position March 31, December 31, 2014 2013 Assets Current assets: Cash $ 446,034

More information

Consolidated Financial Statements. December 31, 2007. and. December 31, 2006. (expressed in Canadian dollars)

Consolidated Financial Statements. December 31, 2007. and. December 31, 2006. (expressed in Canadian dollars) Consolidated Financial Statements December 31, 2007 and December 31, 2006 (expressed in Canadian dollars) 701 475 Howe Street Vancouver, British Columbia V6C 2B3 Canada Phone: (604) 682-5474 Fax: (604)

More information

Holloway Lodging Corporation. Interim Consolidated Condensed Financial Statements (Unaudited) June 30, 2015 (in thousands of Canadian dollars)

Holloway Lodging Corporation. Interim Consolidated Condensed Financial Statements (Unaudited) June 30, 2015 (in thousands of Canadian dollars) Interim Consolidated Condensed Financial Statements August 12, Management s Report The accompanying unaudited interim consolidated condensed financial statements of Holloway Lodging Corporation (the Company

More information

CEMATRIX CORPORATION Consolidated Financial Statements (in Canadian dollars) September 30, 2015

CEMATRIX CORPORATION Consolidated Financial Statements (in Canadian dollars) September 30, 2015 Consolidated Financial Statements September 30, 2015 Management s Responsibility for Financial Reporting and Notice of No Auditor Review of the Interim Consolidated Financial Statements for the Three and

More information

Summary Comparison of Part II of the CICA Handbook Accounting

Summary Comparison of Part II of the CICA Handbook Accounting Summary Comparison the CICA Accounting to XFI Version in Part V As December 31, 2009 1. This comparison has been prepared by the staff the Accounting Standards Board (AcSB) and has not been approved by

More information

PASINEX RESOURCES LIMITED. Consolidated Financial Statements

PASINEX RESOURCES LIMITED. Consolidated Financial Statements PASINEX RESOURCES LIMITED (An Exploration Stage Company) Consolidated Financial Statements Year Ended December 31, 2014 Independent Auditors' Report To the Shareholders of Pasinex Resources Limited: We

More information

ALEXCO RESOURCE CORP. CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED JUNE 30, 2009 AND 2008

ALEXCO RESOURCE CORP. CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED JUNE 30, 2009 AND 2008 CONSOLIDATED FINANCIAL STATEMENTS MANAGEMENT S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING The management of Alexco Resource Corp. is responsible for establishing and maintaining adequate internal

More information

INCA ONE METALS CORP. (Formerly SUB Capital Inc.) (An Exploration Stage Company)

INCA ONE METALS CORP. (Formerly SUB Capital Inc.) (An Exploration Stage Company) Condensed Interim Consolidated Financial Statements Three Months Ended July 31, 2011 and 2010 (the Company ) CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS Three months ended July 31, 2011 and 2010

More information

CARDIOME PHARMA CORP.

CARDIOME PHARMA CORP. Consolidated Financial Statements (Expressed in thousands of United States (U.S.) dollars) (Prepared in accordance with generally accepted accounting principles used in the United States of America (U.S.

More information

ZENN Motor Company Inc.

ZENN Motor Company Inc. Interim Consolidated Financial Statements For the three and six months ended Unaudited Notice to Reader The accompanying unaudited interim consolidated financial statements of ZENN Motor Company Inc. (the

More information

HOSOKAWA MICRON CORPORATION AND CONSOLIDATED SUBSIDIARIES

HOSOKAWA MICRON CORPORATION AND CONSOLIDATED SUBSIDIARIES AND CONSOLIDATED SUBSIDIARIES Consolidated Financial Statements For the Years Ended December 2016 Consolidated Balance Sheets Current assets: Millions of yen Thousands of U.S. dollars (Note 1) Assets 2016

More information

FLEET MANAGEMENT SOLUTIONS INC.

FLEET MANAGEMENT SOLUTIONS INC. FLEET MANAGEMENT SOLUTIONS INC. (Formerly: Silverton Mining Corp.) CONSOLIDATED FINANCIAL STATEMENTS (unaudited prepared by management) March 31, 2013 (Expressed in US Dollars) 1 FLEET MANAGEMENT SOLUTIONS

More information

Abacus Mining & Exploration Corporation (an exploration stage company) Condensed Interim Financial Statements September 30, 2013.

Abacus Mining & Exploration Corporation (an exploration stage company) Condensed Interim Financial Statements September 30, 2013. Abacus Mining & Exploration Corporation (an exploration stage company) Condensed Interim Financial Statements 2013 (Unaudited) (Expressed in Canadian dollars) Index Page Notice to reader 2 Financial statements:

More information

Pacific Ridge Exploration Ltd. (An Exploration Stage Company)

Pacific Ridge Exploration Ltd. (An Exploration Stage Company) Condensed Interim Financial Statements June 30, 2015 (Unaudited Expressed in Canadian Dollars) Notice to Reader The accompanying unaudited condensed interim financial statements of Pacific Ridge Exploration

More information

GUYANA GOLDFIELDS INC.

GUYANA GOLDFIELDS INC. Condensed Consolidated Interim Financial Statements (Unaudited, Expressed in United States Dollars) For the Three and Six Months Ended April 30, 2014 Guyana Goldfields Inc. Condensed Consolidated Interim

More information

KNOL RESOURCES CORP. Condensed Consolidated Interim Financial Statements (unaudited) For the nine months ended September 30, 2015

KNOL RESOURCES CORP. Condensed Consolidated Interim Financial Statements (unaudited) For the nine months ended September 30, 2015 Condensed Consolidated Interim Financial Statements (unaudited) For the nine months ended September 30, 2015 Management s Comments on the Unaudited Interim Consolidated Financial Statements The accompanying

More information

Symbility Solutions Inc. Interim Condensed Consolidated Financial Statements (Unaudited) Quarter ended March 31, 2016

Symbility Solutions Inc. Interim Condensed Consolidated Financial Statements (Unaudited) Quarter ended March 31, 2016 Interim Condensed Consolidated Financial Statements (Unaudited) Quarter ended Interim Consolidated Statements of Financial Position (Unaudited - In thousands of Canadian dollars) As at Note March 31, 2016

More information