Dick:
Not sure how this will turn out, but here goes.
Balance sheet was a positive suprise IMO, more later.
COLOSSAL RESOURCES CORP.
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
MARCH 31, 1997
(Unaudited - See Notice To Reader)
(Expressed in Canadian Dollars)
COLOSSAL RESOURCES CORP.
INTERIM CONSOLIDATED BALANCE SHEET
AS AT MARCH 31, 1997
(Unaudited - See Notice To Reader)
(Expressed in Canadian Dollars)
ASSETS
1997 1996
CURRENT
Cash $ 2,282,896 $3,418,185
Receivables 196,323 15,078
Advances receivable 80,587 62,138
Inventory 506,128 -
Prepaid expenses 21,946 79,646
3,087,880 3,575,047
PLANT AND EQUIPMENT (Schedule) 15,450,332 3,303,062
MINERAL PROPERTIES (Schedule) 2,663,335 2,222,218
ADVANCES RECEIVABLE 30,290 73,868
DUE FROM RELATED PARTIES 421,511 -
DEPOSITS 410,180 10,159
DEFERRED CHARGES 34,170 -
$22,097,698 $9,184,354
LIABILITIES
CURRENT
Accounts payable and accrued liabilities $ 961,121 $ 70,945
Purchase price payable, Barplats Refineries
(Proprietary) Ltd. 346,075 -
1,307,196 70,945
LONG TERM DEBT 1,308,013 -
NON-CONTROLLING INTEREST 511,275 1,054,567
SHAREHOLDERS' EQUITY
CAPITAL STOCK 22,368,282 9,218,106
DEFICIT (3,397,068) (1,159,264)
18,971,214 8,058,842
$22,097,698 $9,184,354
APPROVED BY THE DIRECTORS:
_______(Signed)____________ Director
_______(Signed)____________ Director |
