Financial Statements |
TRS.TSX Venture Financial Statements |
| STATEMENTS OF CASH FLOWS |
| Year Ended February 28, 2002 | Year Ended February 28, 2001 | |
CASH FLOWS FROM OPERATING ACTIVITIES |
||
Income (loss) for the year |
$ 20,560 | $ (195,496) |
Items not affecting cash: |
||
Amortization |
497 | 593 |
| Income tax recovery | (134,563) | (44,912) |
Write-off of mineral properties |
- | 88,173 |
| Write-off of deferred exploration costs | - | 81,658 |
Write-down of marketable securities |
19,500 | 3000 |
Write-down of note receivable |
1,686 | - |
Changes in non-cash working capital items: |
||
(Increase) decrease in accounts receivable |
(17,388) | 7,509 |
Decrease in accounts payable |
(5,620) | (10,470) |
(Increase) decrease in subscription receivable |
1,650 | (10,150) |
Net cash used in operating activities |
(113,678) | (80,095) |
CASH FLOWS FROM FINANCING ACTIVITIES |
||
Issuance of capital stock |
844,611 | 249,000 |
Share subscriptions received |
- | 117,800 |
Repayment to related parties |
(20,710) | (5,342) |
Repayment of note receivable |
2,000 | - |
Net cash provided by financing activities |
825,901 | 361,458 |
CASH FLOWS FROM INVESTING ACTIVITIES |
||
Purchase of capital assets |
(546) | - |
Mineral properties, net of recoveries |
(507,750) | (52,000) |
Deferred exploration costs, net of recoveries |
(224,998) | (86,544) |
Net cash used in investing activities |
(733,294) | (174,581) |
Change in cash position for the year |
(21,071) | 142,819 |
Cash position, beginning of year |
143,315 | 496 |
Cash position, end of year |
$ 122,244 | $ 143,315 |
Supplemental disclosure for non-cash operating, investing and financing activities (Note 10)
The accompanying notes are an integral part of these financial statements.
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