DAKOTA TERRITORY RESOURCE CORP

CIK:0001182737|SEC Filings

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Operating expenses
Exploration costs	$ 2,058,521	$ 94,071	$ 6,117,247	$ 576,260
General and administrative expenses	3,391,952	158,364	16,427,931	524,266
Total operating expenses	5,450,473	252,435	22,545,178	1,100,526
Loss from operations	(5,450,473)	(252,435)	(22,545,178)	(1,100,526)
Other income (expense)
Loss on debt settlement	0	0	(124,521)	0
Interest income	9,760	140	16,094	2,140
Interest expense	0	(1,048,735)	(101)	(1,322,244)
Other income	0	5,000	0	5,000
Total other income (expense)	9,760	(1,043,595)	(108,528)	(1,315,104)
Net loss	$ (5,440,713)	$ (1,296,030)	$ (22,653,706)	$ (2,415,630)
Net loss per share:
Basic and diluted net loss per share	$ (0.08)	$ (0.04)	$ (0.35)	$ (0.11)
Weighted average number of shares outstanding
Basic and diluted	70,541,658	31,374,130	65,079,372	21,174,813

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Net loss	$ (22,653,706)	$ (2,415,630)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	16,353,160	0
Loss on settlement of debt	124,521	0
Depreciation expense	103,411	868
Amortization of debt discount	0	1,315,644
Changes in current assets and liabilities
Prepaid expenses and other current assets	(97,996)	(87,604)
Accounts payable and accrued expenses	455,322	(100,104)
Accounts payable - related party	0	(329,621)
Net cash used in operating activities	(5,715,288)	(1,616,447)
Cash flow from investing activities
Purchases of property and equipment	(573,776)	(20,789)
Purchases of mineral properties	(6,179,873)	(3,751,012)
Net cash used in investing activities	(6,753,649)	(3,771,801)
Cash flow from financing activities
Proceeds from sale of common stock	50,270,224	9,380,000
Share issuance costs	(754,598)	0
Repayment of note payable - related party	(801,715)	0
Proceeds from exercise of options	0	631,000
Proceeds from the issuance of note payable - related party	0	(210,645)
Proceeds from note payable	0	1,150,000
Repayment of line of credit, net	0	(5,194)
Net cash provided by financing activities	48,713,911	10,945,161
Net change in cash and cash equivalents	36,244,974	5,556,913
Cash and cash equivalents, beginning of period	10,392,940	146,425
Cash and cash equivalents, end of period	46,637,914	5,703,338
Supplemental cash flow information:
Interest paid	0	6,865
Non-cash investing and financing activities:
Common stock issued for investments in mineral properties	8,780,464	1,320,000
Common stock issued for settlement of notes payable	703,647	0
Common stock issued upon conversion of note payable	0	1,450,000
Related party accounts payable converted to related party note	$ 0	$ 1,447,997

CONDENSED CONSOLIDATED INTERIM BALANCE SHEETS - USD ($)	Dec. 31, 2021	Mar. 31, 2021
Current assets
Cash and cash equivalents	$ 46,637,914	$ 10,392,940
Prepaid expenses and other current assets	173,604	75,608
Total current assets	46,811,518	10,468,548
Mineral properties	20,297,409	5,337,072
Property and equipment	1,341,109	870,744
Total assets	68,450,036	16,676,364
Current liabilities
Accounts payable and accrued liabilities	619,598	165,024
Current portion of notes payable - related party	0	906,768
Total current liabilities	619,598	1,071,792
Notes payable - related party	0	473,325
Total liabilities	619,598	1,545,117
Commitments and contingencies
Shareholders' equity
Common stock, par value $0.001; 75,000,000 shares authorized, 70,828,204 and 56,197,331 shares issued and outstanding as of December 31, 2021 and March 31, 2021, respectively	70,828	56,197
Additional paid-in capital	98,956,100	23,617,834
Accumulated deficit	(31,196,490)	(8,542,784)
Total shareholders' equity	67,830,438	15,131,247
Total liabilities and shareholders' equity	$ 68,450,036	$ 16,676,364