BSE : Listing of new debt securities of VR Konkan Private Limited

VR Resources : Q2 fs 2023

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VR RESOURCES LTD.

CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

For the six months ended September 30, 2022

(Unaudited – Prepared by Management)

(Expressed in Canadian Dollars)

1

NOTICE TO READER

Pursuant to National Instrument 51-102, Part 4, subsection 4.3(3)(a) issued by the Canadian Securities Administrators, if an auditor has not performed a review of the interim condensed financial statements, they must be accompanied by a notice indicating that the condensed consolidated financial statements have not been reviewed by an auditor.

The condensed consolidated interim financial statements of the Company for the first quarter ended September 30, 2022 have been prepared by and are the responsibility of the Company’s management.

The Company’s independent auditors have not performed a review of these unaudited condensed consolidated interim financial statements in accordance with the standards established by the CPA Canada for a review of interim condensed consolidated financial statements by an entity’s auditor.

2

VR RESOURCES LTD.

CONDENSED CONSOLIDATED INTERM STATEMENTS OF FINANCIAL POSITION (Unaudited – Prepared by management)

(Expressed in Canadian Dollars)

September 30,

March 31,

2022

2022

ASSETS

Current

Cash and cash equivalents (Note 3)

$

1,767,131

$

1,968,469

Receivables (Note 4)

22,369

8,730

Prepaid expenses

26,916

65,364

1,816,416

2,042,563

Equipment (Note 5)

1,925

2,264

Exploration and evaluation assets (Note 6)

11,425,955

9,146,463

Reclamation bond (Note 7)

60,691

55,357

$

13,304,987

$

11,246,647

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current

Accounts payable and accrued liabilities (Note 8)

$

42,057

$

109,552

Flow-through premium liability (Note 9)

101,450

208,758

143,507

318,310

Shareholders’ equity

Share capital (Note 9)

21,953,412

20,161,916

Reserves (Note 9)

2,544,205

2,407,994

Deficit

(12,066,133)

(11,781,303)

Accumulated other comprehensive income

729,996

139,730

13,161,480

10,928,337

$

13,304,987

$

11,246,647

Nature of operations and going concern (Note 1)

Subsequent events (Note 15)

On behalf of the Board

on November 3, 2022

“Michael Gunning”

Director

“Craig Lindsay”

Director

The accompanying notes are an integral part of these condensed consolidated interim financial statements.

3

VR RESOURCES LTD.

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF LOSS AND COMPREHENSIVE LOSS FOR THE SIX-MONTH PERIODS ENDED SEPTEMBER 30

(Unaudited – Prepared by management) (Expressed in Canadian Dollars)

Three Months

Three Months

Six Months

Six Months

Ended Sept.

Ended Sept.

Ended Sept.

Ended Sept.

30, 2022

30, 2021

30, 2022

30, 2021

EXPENSES

Consulting fees (Note 10)

$

6,000

$

6,000

$

17,350

$

12,000

Depreciation (Note 5)

170

242

340

485

Foreign exchange (gain) loss

(6,683)

3,268

(2,810)

5,220

Investor relations and promotion

43,804

40,650

80,881

68,775

Impairment of exploration and evaluation assets

(18,083)

10,478

5,353

10,478

Office

20,508

16,879

34,550

29,866

Professional fees

39,925

12,953

51,307

20,438

Rent

6,000

6,000

12,000

12,000

Salaries (Note 10)

50,144

82,565

140,149

162,698

Share-based payments (Note 8,10)

136,211

426,574

136,211

426,574

Regulatory and transfer agent

15,331

13,239

21,225

25,102

(293,327)

(618,848)

(496,556)

(773,636)

Other income – flow-through (Note 9)

208,758

Interest income

536

1,903

2,968

4,804

Net Loss for the period

(292,791)

(616,945)

(284,830)

(768,832)

Other comprehensive income (loss) to be reclassified

to profit or loss in subsequent years:

Translation adjustment

537,327

146,530

590,266

83,861

Gain (Loss) and comprehensive Gain (loss) for the

$

244,536

$

(470,415)

$

305,436)

$

(648,971)

period

Loss per common share

-Basic and diluted

$

(0.00)

$

(0.01)

$

(0.00)

$

(0.01)

Weighted average number of common shares

outstanding

-Basic and diluted

86,408,913

80,840,138

84,914,991

79,623,519

The accompanying notes are an integral part of these condensed consolidated interim financial statements.

4

VR RESOURCES LTD.

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS FOR THE SIX-MONTH PERIODS ENDED SEPTEMBER 30

(Unaudited – Prepared by management) (Expressed in Canadian Dollars)

2022

2021

OPERATING ACTIVITIES

Loss for the period

$

(284,830)

$

(768,832)

Items not affecting cash:

Share-based payments

136,211

426,574

Depreciation

340

485

Flow-through premium liability

(208,758)

Changes in non-cash working capital items:

Receivables

(13,639)

(36,287)

Prepaid expenses

38,448

(1,684)

Accounts payable and accrued liabilities

9,643

(89,150)

Net cash used in operating activities

(322,585)

(468,894)

FINANCING ACTIVITIES

Proceeds from the issuance of shares, net of share issue cost

1,892,946

1,120,006

Net cash provided by financing activities

1,892,946

1,120,006

INVESTING ACTIVITIES

Exploration and evaluation assets

(1,766,365)

(1,086,764)

Reclamation bond

(5,334)

Net cash used in investing activities

(1,771,699)

(1,086,764)

Change in cash during the period

(201,338)

(435,652)

Cash, beginning of period

1,968,469

2,931,748

Cash, end of period

$

1,767,131

$

2,496,096

Cash paid during the period for:

Income taxes

$

$

Interest

$

$

Supplemental disclosure with respect to cash flows (Note 10)

5

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Disclaimer

VR Resources Ltd. published this content on 03 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 November 2022 21:47:52 UTC.

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All news about VR RESOURCES LTD.

Sales 2022

Net income 2022 -2,61 M
-1,90 M
-1,90 M
Net cash 2022 1,97 M
1,43 M
1,43 M
P/E ratio 2022 -9,78x
Yield 2022
Capitalization 10,4 M
7,54 M
7,54 M
EV / Sales 2021
EV / Sales 2022
Nbr of Employees
Free-Float 91,9%



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