St-Georges loses $14.09-million in 2020 ST-GEORGES FILES 2020 AUDITED FINANCIAL STATEMENTS
St-Georges Eco-Mining Corp. has filed its 2020 year-end audited financial statements on SEDAR. The financial statements includes a restatement of 2019 year-end audited financial statements.
The company has incurred losses of $14,096,033 for the year 2020, compared with losses of $2,892,869 (restated) for the year 2019.
All digital assets held by the company's subsidiaries have been written off to nil.
The principal amount of 2,151,409 pounds sterling, a fair value of $2,238,797 of the convertible loan receivable from BWA, has been written off. The company recognized a loss on the change in fair value of the convertible loan of nil.
On May 3, 2021, the British Columbia Securities Commission (BCSC) approved a management cease trade order (MCTO) imposed against the chief executive officer, Herb Duerr, and chief financial officer, Richard Barnett, of the company, precluding them from trading securities of the company. The MCTO required the annual financial filings to be filed on or before July 2, 2021. On July 6, 2021, after review, the BCSC granted a further extension for the filing of the annual financial filings until July 15, 2021, as well as an extension for the filing of the company's interim financial statements and corresponding management's discussion and analysis for the three-month period ended March 31, 2021, including the related CEO and CFO certifications which must be filed before July 20, 2021.