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ORGANIC FLOWER INVESTMENTS GROUP INC.
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Unaudited - Expressed in Canadian Dollars)
2
As at Notes
December 31,
2019
June 30,
2019
(Audited)
ASSETS
Current Assets
Cash and cash equivalents $ 268,167 $ 252,022
Amounts receivable 48,784 48,131
Prepaids 18,002 18,002
Investments 7 40,701,794 120,519,676
41,036,746 120,837,831
Non-current Assets
Convertible debenture receivable 8 2,500,000 -
Total assets $ 43,536,747 $ 120,837,831
LIABILITIES
Current Liabilities
Accounts payable and accrued liabilities 11 $ 177,461 $ 128,341
Convertible debenture payable 9 403,222 -
Deferred interest income 8 46,849 -
627,532 128,341
Long Term Liabilities
Deferred income tax liability 10,040,635 10,040,635
Total liabilities 10,668,167 10,168,976
SHAREHOLDERS’ EQUITY
Share capital 10 112,605,621 111,955,131
Share-based payments reserves 10 17,455,062 17,708,960
Deficit (97,192,103) (18,995,236)
Total shareholders’ equity 32,868,580 110,668,855
Total liabilities and shareholders’ equity $ $ 43,536,747 $ 120,837,831
Nature and continuance of operations (Note 1)
Subsequent event (Note 13)
Approved on behalf of the Board on February 26, 2020:
“Joel Dumaresq” “Theo van der Linde”
Director – Joel Dumaresq Director – Theo Van Der Linde
The accompanying notes are an integral part of these condensed consolidated interim financial statements.