Financial Statements |
TRS.TSX Venture Financial Statements |
| STATEMENTS OF OPERATIONS AND DEFICIT |
| Year Ended February 28, 2002 | Year Ended February 28, 2001 | |
EXPENSES |
||
Amortization |
$ 497 | $ 593 |
Bank charges and interest |
4,473 | 48 |
Expense Recovery |
(12,733) | - |
Management fees |
23,900 | 13,800 |
Office and miscellaneous |
18,984 | 7,882 |
Professional fees |
29,284 | 28,732 |
Telephone |
3,394 | 2,385 |
Transfer agent and regulatory fees |
15,692 | 11,460 |
Travel and promotion |
9,326 | 2,677 |
| (98,817) | (67,577) | |
OTHER ITEMS |
||
Write-down of note receivable |
1,686 | - |
Write-off of mineral properties (Note 6) |
- | 88,173 |
Write-off of deferred exploration costs (Note 7) |
- | 81,658 |
Write-down of marketable securities (Note 3) |
19,500 | 3,000 |
| (21,186) | (21,186) | |
Loss before income taxes |
(114,003) | (240,408) |
| Income tax recovery | 134,563 | 44,912 |
Loss for the year |
20,560 | (195,496) |
Deficit, beginning of year as previously reported |
(3,571,022) | (3,496,842) |
| Adjustment of deficit, according to asset and liability method of accounting for future income taxes (Note 11) | - | 121,316 |
Deficit, beginning of year restated |
$ (3,571,022) | $ (3,375,526) |
Deficit, end of year |
$ (3,550,462) | $ (3,571,022) |
|
|
|
|
|
Weighted
average
number of shares outstanding |
11,241,069 |
6,165,025 |
|
|
|
|
|
Basic |
$
0.01 |
$
(0.03) |
|
|
The accompanying notes are an integral part of these financial statements.
© Copyright 1999, Tres-Or Resources Ltd. All Rights Reserved |