Fs and Sentiments Will Continue to Impact These Target Commodities
FORUM ENERGY METALS CORP. INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the six month periods ended May 31, 2020 and 2019 (Unaudited – Prepared by Management) (Stated in Canadian Funds) NOTICE OF NO REVIEW BY AUDITOR The accompanying unaudited interim condensed consolidated financial statements of Forum Energy Metals Corp. (“the Company”) have been prepared by management and have not been the subject of a review by the Company’s independent auditor. Forum Energy Metals Corp. (An Exploration Stage Company) Interim Condensed Consolidated Statements of Financial Position as at Canadian Funds Unaudited - prepared by management May 31, 2020 November 30, 2019 Note ($) ($) ASSETS Current assets Cash 4 275,970 131,308 Marketable securities 5 15,095 7,901 Receivables 6 66,771 26,032 Prepaid expenses and deposits 44,182 38,038 402,017 203,279 Equipment 1,988 2,316 Exploration and evaluation assets 7 2,671,010 2,671,010 3,075,014 2,876,605 LIABILITIES Current liabilities Accounts payable and accrued liabilities 21,567 263,649 Due to related parties 9 30,940 255,170 Promissory notes 7 82,722 79,806 135,229 598,625 Loan 8 40,000 - 175,229 598,625 SHAREHOLDERS’ EQUITY Capital stock 9 45,535,243 45,214,204 Allotted but not issued - - Contributed Surplus - Options 9 5,465,784 5,325,114 Contributed Surplus - Warrants 9 2,339,652 2,339,652 Accumulated deficit (50,440,893) (50,600,990) 2,899,786 2,277,980 3,075,014 2,876,605 Nature of Operations and Going Concern – Note 1 Subsequent Event – Note 12 Approved and authorized by the Board of Directors on July 27, 2020: ”Richard Mazur” “Larry Okada” Richard Mazur Larry Okada Director Director The accompanying notes are an integral part of these financial statements 2 | P a g e Forum Energy Metals Corp.
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