SEDAR Interim Financial Statements

[
  {
    "companyName": "Seasif Exploration Inc.",
    "reportingPeriodEnd": "2025-03-31",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cash": 39665,
      "prepaidExpenses": 7881,
      "totalCurrentAssets": 47546,
      "accountsPayableAndAccruedLiabilities": 161713,
      "accruedCompensation": 541563,
      "loanPayable": 126027,
      "totalCurrentLiabilities": 829303,
      "shareCapital": 9860716,
      "equityReserves": 806041,
      "deficit": -11448514,
      "totalShareholdersEquity": -781757,
      "totalLiabilitiesAndEquity": 47546,
      "cashPerShare": 0.0003,
      "workingCapitalPerShare": -0.0063
    },
    "incomeStatement": {
      "generalAndAdministrativeExpenses": 14114,
      "accruedSalariesAndAdvisoryServices": null,
      "employmentBenefits": 3206,
      "legalFeesRecovery": -3773,
      "propertyInvestigationCosts": 28801,
      "foreignExchangeLoss": null,
      "netLossAndComprehensiveLoss": 47348,
      "weightedAverageSharesOutstanding": 123153398,
      "lossPerCommonShareBasicAndDiluted": 0
    },
    "cashFlowStatement": {
      "netLoss": 47348,
      "interestOnLoanPayable": 833,
      "changesInPrepaidExpenses": 4105,
      "changesInAccountsReceivable": null,
      "changesInAccountsPayableAndAccruedLiabilities": 14700,
      "changesInAccruedCompensation": null,
      "changesInLoanPayable": null,
      "netCashUsedByOperatingActivities": -27710,
      "netCashUsedByInvestingActivities": null,
      "netCashDecreaseForPeriod": -27710,
      "cashAtBeginningOfPeriod": 67375,
      "cashAtEndOfPeriod": 39665
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Exploration and Evaluation Assets",
        "description": "Meadowbank Project mineral rights in Nunavut, Canada",
        "ownershipPercentage": null,
        "value": null,
        "notes": "Previously impaired to $nil during year ended December 31, 2024 due to inability to raise financing"
      },
      {
        "type": "Subsidiary",
        "description": "Western Atlas Holding Corp. (100% owned)",
        "ownershipPercentage": 100,
        "value": null,
        "notes": "Holds mineral exploration and evaluation assets"
      },
      {
        "type": "Subsidiary",
        "description": "5530 Nunavut Inc. (100% owned through Western Atlas)",
        "ownershipPercentage": 100,
        "value": null,
        "notes": "Mineral exploration and evaluation"
      }
    ],
    "shareStructure": {
      "authorizedShares": "Unlimited common voting shares without par value",
      "issuedShares": 123153398,
      "classesOfShares": ["Common voting shares"],
      "warrants": [],
      "options": [
        {
          "number": 500000,
          "exercisePrice": 0.05,
          "expiryDate": "2025-02-05"
        },
        {
          "number": 232500,
          "exercisePrice": 0.32,
          "expiryDate": "2026-01-09"
        }
      ],
      "rightsConvertibleInstruments": null
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "threeMonthsEndedMarch312025": {
          "managementFees": 0,
          "salaries": 0,
          "shareBasedCompensation": 0
        },
        "threeMonthsEndedMarch312024": {
          "managementFees": 0,
          "salaries": 70200,
          "shareBasedCompensation": 0
        }
      },
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "CEO (Fabio Capponi)",
          "description": "Deferred salaries and fees",
          "amount": 488392,
          "period": "As at March 31, 2025"
        },
        {
          "counterparty": "Related parties",
          "description": "Accounts payable due to related parties",
          "amount": 42467,
          "period": "As at March 31, 2025"
        },
        {
          "counterparty": "CEO (Fabio Capponi)",
          "description": "Loan segment two - $84,000 at 2.3% interest, extended to February 21, 2026",
          "amount": 84000,
          "period": "Outstanding at March 31, 2025"
        },
        {
          "counterparty": "CEO (Fabio Capponi)",
          "description": "Loan segment three - $40,000 at 3.62% interest, extended to February 21, 2026",
          "amount": 40000,
          "period": "Outstanding at March 31, 2025"
        }
      ]
    },
    "subsequentEvents": [
      {
        "eventDate": "2025-05-05",
        "description": "500,000 options at exercise price of $0.05 expired unexercised",
        "impactValue": null
      },
      {
        "eventDate": "2025-05-08",
        "description": "TSX Venture Exchange suspended trading due to Cease Trade Order from BC Securities Commission for failure to file audited financial statements",
        "impactValue": null
      },
      {
        "eventDate": "2025-09-23",
        "description": "Company shares transferred from TSX Venture Exchange to NEX board",
        "impactValue": null
      },
      {
        "eventDate": "2025-10-24",
        "description": "Received $120,000 from two arm's-length private investors for future issuance of 6,000,000 common shares",
        "impactValue": 120000
      }
    ]
  }
]