|
For the six month period ended September 30 |
1999 |
1998 |
|
(Restated) |
|||
|
Assets |
|||
|
Current |
|||
Cash |
$ 4,981 |
$ 64,351 |
|
|
Minning and other equipment |
33,028 |
50,108 |
|
|
Patents |
75,881 |
57,256 |
|
|
$ 113,890 |
$ 171,715 |
||
|
Liabilities and Shareholders' Deficiency |
|||
| Current | |||
|
Accounts payable
|
$1,841,670 | $1,184,048 | |
|
Loans payable
|
-- | 17,811 | |
|
Due to certain shareholders |
127,422 |
813,669 |
|
| 1,969,092 | 2,015,528 | ||
| Deposits on share issue | 2,811,000 | 1,282,023 | |
| Royalty payable | 1,874,675 | 1,874,675 | |
| 6,654,767 | 5,172,226 | ||
|
Share capital |
24,290,979 | 24,231,402 | |
| Due to directors | 398,395 | 398,395 | |
| Contributed surplus | 4,611,583 | 4,611,583 | |
| Cumulative translation adjustment | 197,553 | 122,669 | |
|
Deficit |
(36,039,387) | (34,364,560) | |
| (6,540,877) | (5,000,511) | ||
| $ 113,890 | $ 171,715 | ||
Note: Certain comparative figures have been restated and others have been reclassified to conform to the current period’s presentation.
|
For the six month period ended September 30 |
1999 |
1998 |
|||
(Restated) |
|||||
|
Expenses |
|||||
|
General and administrative expenses |
$ 832,131 |
$ 731,796 |
|||
|
Amoritization |
6,687 |
3,134 |
|||
|
Interest |
3,728 |
18,423 |
|||
|
Mineral property expenditures |
10,182 |
6,494 |
|||
|
852,728 |
759,847 |
||||
|
Other items |
|||||
|
Gain on settlement of debts |
-- |
2,611 |
|||
|
|
2,611 |
||||
|
Net loss for the period |
(852,728) |
(757,236) |
|||
|
Deficit, beginning of period |
(35,186,659) |
(33,193,401) |
|||
|
Deficit, end of period |
$(35,186,659) |
$(33,607,324) |
|||
|
Basic loss per share |
$ |
(0.17) |
$ |
(0.15) |
|
|
Weighted average number of shares |
4,986,000 |
4,986,000 |
|||
Note: Certain comparative figures have been restated and others have been reclassified to conform to the current period’s presentation.
|
For the six month period ended September 30 |
1999 |
1998 |
|
(Restated) |
|||
|
Cash provided (used) by: |
|||
|
Operating activities |
|||
|
Operations |
|||
|
Net loss for the period |
$(852,728) |
$(757,236) |
|
|
Items not involving cash |
|||
|
Amortization |
6,687 |
3,134 |
|
|
(846,041) |
(754,102) |
||
|
Changes in non-cash working capital balances |
|||
|
Accounts payable |
420,227 |
327,664 |
|
|
Foreign exchange on working capital items |
37,816 |
70,320 |
|
|
(387,998) |
(356,118) |
||
|
Financing activities |
|||
|
Issue of share capital |
-- |
235,380 |
|
|
Deposits on issue of shares by subsidiary, cash received |
283,987 |
82,767 |
|
|
Advances (to) from shareholders |
109,827 |
101,236 |
|
|
Loan payable |
-- |
1,284 |
|
|
393,814 |
420,667 |
||
|
Investing activity |
|||
|
Mining and other equipment and patent additions |
(13,280) |
(10,086) |
|
|
Increase (decrease) in cash |
(7,464) |
54,463 |
|
|
Cash, beginning of period |
12,445 |
9,888 |
|
|
Cash, end of period |
$ 4,981 |
$ 64,351 |
|
Note: Certain comparative figures have been restated and others have been reclassified to conform to the current period’s presentation.