TRES-OR RESOURCES LTD. CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED AUGUST 31, 2022 AND 2021
(Unaudited - Prepared by Management)
(Expressed in Canadian Dollars)
Tel: 1-604-688-8700
Email:info@tres-or.com
Website:http://www.tres-or.com
Tres-Or trades on the TSX Venture Exchange under the symbol TRS
NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS
Under National Instrument 51-102, 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 condensed consolidated interim financial statements of the Company have been prepared by and are the responsibility of the Company's management.
The Company's independent auditor has not performed a review of these financial statements in accordance with standards established by the Chartered Professional Accountants of Canada for a review of interim financial statements by an entity's auditor.
TRES-OR RESOURCES LTD.
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION UNAUDITED - PREPARED BY MANAGEMENT
(Expressed in Canadian Dollars)
August 31, | February 28, | ||||||
Note | 2022 | 2022 | |||||
ASSETS | |||||||
Current assets | |||||||
Cash | $ | 370,850 | $ | 258,727 | |||
Marketable securities | 3 | 1,080,432 | - | ||||
Receivables | 4 | 2,413 | 38,877 | ||||
Prepaids | 6,953 | 8,073 | |||||
Total current assets | 1,460,648 | 305,677 | |||||
Non-current assets | |||||||
Exploration and evaluation assets | 5 | 2,395,291 | 3,990,732 | ||||
TOTAL ASSETS | $ | 3,855,939 | $ | 4,296,409 | |||
LIABILITIES | |||||||
Current liabilities | |||||||
Accounts payable and accrued liabilities | $ | 212,931 | $ | 235,018 | |||
Due to related parties | 7 | 407,614 | 407,682 | ||||
Loans payable | 6,7 | - | 174,375 | ||||
Total current liabilities | 620,545 | 817,075 | |||||
Non-current liabilities | |||||||
Flow through share premium liabilities | 9 | 30,074 | 34,199 | ||||
TOTAL LIABILITIES | 650,619 | 851,274 | |||||
EQUITY | |||||||
Share capital | 8 | 18,067,993 | 18,069,565 | ||||
Treasury shares | 8 | (120,000) | - | ||||
Equity reserves | 8 | 2,272,453 | 2,272,453 | ||||
Accumulated other comprehensive loss | (420,168) | - | |||||
Deficit | (16,594,958) | (16,896,883) | |||||
TOTAL EQUITY | 3,205,320 | 3,445,135 | |||||
TOTAL LIABILITIES AND EQUITY | $ | 3,855,939 | $ | 4,296,409 | |||
Nature and continuance of operations (Note 1) |
Approved by the Board of Directors on October 27, 2022:
"Gareth E. Mason " | "Laura Lee Duffett" | |
Director | Director |
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
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TRES-OR RESOURCES LTD.
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE LOSS
UNAUDITED - PREPARED BY MANAGEMENT
(Expressed in Canadian Dollars)
Three months ended | Six months ended | ||||||||
August 31, | August 31, | ||||||||
Note | 2022 | 2021 | 2022 | 2021 | |||||
GENERAL AND ADMINISTRATIVE EXPENSES | |||||||||
Accretion and interest on loans payable | 6,7 | $ | - | $ | - | $ | - | $ | 108 |
Consulting fees | - | 6,000 | - | 20,500 | |||||
Management fees | 7 | 13,500 | 13,500 | 27,000 | 27,000 | ||||
Office and miscellaneous | 3,360 | 475 | 5,084 | 4,078 | |||||
Professional fees | 29,553 | 10,326 | 35,262 | 25,946 | |||||
Transfer agent and regulatory fees | 2,479 | (310) | 3,772 | 6,459 | |||||
Travel and promotion | 7 | 5,028 | 12,144 | 8,510 | 25,829 | ||||
(53,920) | (42,135) | (79,628) | (109,920) | ||||||
Settlement of flow through share premium | |||||||||
liabilities | 9 | - | - | 4,125 | - | ||||
Gain on loan settlement | 6 | 19,375 | - | 19,375 | - | ||||
Gain on property transfer | 5 | 358,053 | - | 358,053 | - | ||||
Income (loss) for the period | 323,508 | (42,135) | 301,925 | (109,920) | |||||
OTHER COMPREHENSIVE LOSS | |||||||||
Unrealized loss on marketable securities | 3 | (420,168) | - | (420,168) | - | ||||
Total comprehensive loss for the period | $ | (96,660) | $ | (42,135) | $ | (118,243) | $ | (109,920) | |
Basic and diluted earnings (loss) per common | |||||||||
share | $ | 0.01 | $ | (0.00) | $ | 0.01 | $ | (0.01) | |
Weighted average number of | |||||||||
common shares outstanding - basic and | |||||||||
diluted | 22,918,385 | 21,592,263 | 22,940,124 | 21,358,828 | |||||
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
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TRES-OR RESOURCES LTD.
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN EQUITY
UNAUDITED - PREPARED BY MANAGEMENT
(Expressed in Canadian Dollars)
Accumulated | ||||||||||||||
Share | Other | |||||||||||||
Number of | Subscriptions | Treasury | Equity | Comprehensive | ||||||||||
shares | Share Capital | Receivable | Shares | Reserves | Loss | Deficit | Total | |||||||
Balance - February 28, 2021 | 20,978,263 | $ | 17,891,191 | $ | (24,750) | $ | - | $ | 2,272,453 | $ | - | $ (16,669,261) | $ | 3,469,633 |
Private placement | 564,000 | 84,600 | - | - | - | - | - | 84,600 | ||||||
Share issue costs | - | (4,981) | - | - | - | - | - | (4,981) | ||||||
Share subscription receivable | - | - | 24,750 | - | - | - | - | 24,750 | ||||||
Flow-through share premium liability | - | (31,020) | - | - | - | - | - | (31,020) | ||||||
Exercise of warrants | 50,000 | 7,500 | - | - | - | - | - | 7,500 | ||||||
Loss for the period | - | - | - | - | - | - | (109,920) | (109,920) | ||||||
Balance - August 31, 2021 | 21,592,263 | $ | 17,947,290 | $ | - | $ | - | $ | 2,272,453 | $ | - | $ (16,779,181) | $ | 3,440,562 |
Balance - February 28, 2022 | 22,961,863 | $ | 18,069,565 | $ | - | $ | - | $ | 2,272,453 | $ | - | $ (16,896,883) | $ | 3,445,135 |
Share issue costs | - | (1,572) | - | - | - | - | - | (1,572) | ||||||
Treasury shares | (2,000,001) | - | - | (120,000) | - | - | - | (120,000) | ||||||
Loss on marketable securities | - | - | - | - | - | (420,168) | - | (420,168) | ||||||
Income for the period | - | - | - | - | - | - | 301,925 | 301,925 | ||||||
Balance August 31, 2022 | 20,961,862 | $ | 18,067,993 | $ | - | $ | (120,000) | $ | 2,272,453 | $ | (420,168) | $ (16,594,958) | $ | 3,205,320 |
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
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Tres-Or Resources Ltd. published this content on 27 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 October 2022 09:19:07 UTC.
