$ENRT
Enertopia Corp.

2020 Q3 Form 10-K Financial Statement

#000106299320005369 Filed on November 04, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2020 2019 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $28.53K $150.1K $51.44K
YoY Change -44.54% -46.53% -35.7%
% of Gross Profit
Research & Development $3.000K $1.702K $1.030K
YoY Change 191.26% -88.44%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $31.53K $170.1K $52.46K
YoY Change -39.9% -59.39% -34.43%
Operating Profit -$170.1K
YoY Change -59.39%
Interest Expense $280.00 $1.651K -$3.490K
YoY Change -108.02% 38.51%
% of Operating Profit
Other Income/Expense, Net $0.00 $19.85K
YoY Change -43.05%
Pretax Income -$31.25K $34.13K -$55.96K
YoY Change -44.16% -108.08% -30.05%
Income Tax $0.00
% Of Pretax Income 0.0%
Net Earnings -$31.25K $34.13K -$55.96K
YoY Change -44.15% -108.08% -30.05%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$243.20 $266.00 -$438.90
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q3 2020 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $69.88K $69.88K $9.760K
YoY Change 616.0% 615.98% -94.58%
Cash & Equivalents $45.53K $45.53K $9.758K
Short-Term Investments $24.35K $24.35K
Other Short-Term Assets $14.82K $14.82K $30.26K
YoY Change -51.02% -51.02% -66.38%
Inventory
Prepaid Expenses $14.82K $30.26K
Receivables $1.508K $1.510K $6.225K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $86.21K $86.21K $46.25K
YoY Change 86.43% 86.4% -82.87%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $86.21K $86.21K $46.25K
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $86.21K $86.21K $46.25K
YoY Change 86.43% 86.4% -82.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $290.3K $290.3K $283.4K
YoY Change 2.44% 2.44% 1.23%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $15.48K
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $479.2K $479.2K $502.1K
YoY Change -4.57% -4.57% 11.58%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $479.2K $479.2K $502.1K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $479.2K $479.2K $502.1K
YoY Change -4.57% -4.57% 11.58%
SHAREHOLDERS EQUITY
Retained Earnings -$14.28M -$14.31M
YoY Change -0.24%
Common Stock $128.5K $127.5K
YoY Change 0.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$393.0K -$393.0K -$455.9K
YoY Change
Total Liabilities & Shareholders Equity $86.21K $86.21K $46.25K
YoY Change 86.43% 86.4% -82.87%

Cashflow Statement

Concept 2020 Q3 2020 2019 Q3
OPERATING ACTIVITIES
Net Income -$31.25K $34.13K -$55.96K
YoY Change -44.15% -108.08% -30.05%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$26.10K -$127.1K -$19.75K
YoY Change 32.15% -61.01% -60.5%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$21.15K $178.9K
YoY Change
Cash From Investing Activities -$21.15K $178.8K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -$15.97K 15.30K
YoY Change -100.0% -110.02% -84.7%
NET CHANGE
Cash From Operating Activities -26.10K -$127.1K -19.75K
Cash From Investing Activities -21.15K $178.8K
Cash From Financing Activities 0.000 -$15.97K 15.30K
Net Change In Cash -47.25K $35.77K -4.450K
YoY Change 961.8% -121.46% -108.9%
FREE CASH FLOW
Cash From Operating Activities -$26.10K -$127.1K -$19.75K
Capital Expenditures
Free Cash Flow
YoY Change

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<div><p style="margin-left:54pt;margin-bottom:0pt;text-indent:-18pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>d.</strong><span style="width:9.94pt;text-indent:0pt;display:inline-block">&#160;</span><strong>Accounting Estimates</strong></span></span></p><p style="margin:0pt">&#160;</p><p style="margin-top:0pt;margin-left:36pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The preparation of financial statements in conformity with U.S GAAP requires us to make certain estimates, judgements and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Some of the Company's accounting policies require us to make subjective judgments, often as a result of the need to make estimates of matters that are inherently uncertain. These accounting policies involve critical accounting estimates because they are particularly dependent on estimates and assumptions made by management about matters that are highly uncertain at the time the accounting estimates are made. Although we have used our best estimates based on facts and circumstances available to us at the time, different estimates reasonably could have been used. Changes in the accounting estimates used by the Company are reasonably likely to occur from time to time, which may have a material effect on the presentation of financial condition and results of operations.</span></span></p><p style="margin-left:36pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company reviews these estimates, judgments and assumptions periodically and reflect the effects of revisions in the period in which they are deemed to be necessary. We believe that these estimates are reasonable; however, actual results could differ from these estimates.</span></span></p><p style="text-indent:36pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Significant accounting estimates and assumptions are used for, but not limited to:</span></span></p><p style="margin-left:90pt;margin-bottom:0pt;text-indent:-18pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">a)<span style="width:10.23pt;text-indent:0pt;display:inline-block">&#160;</span>The Valuation of Deferred Tax Assets</span></span></p><p style="margin-top:0pt;margin-left:72pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Judgement is required in determining whether deferred tax assets are recognized on the balance sheet. The recognition of deferred tax assets requires management to assess the likelihood that the Company will generate taxable income in future periods to utilize the deferred tax assets. Due to the Company's history of losses, deferred tax assets have not been recognized by the Company.</span></span></p></div><p style="margin-left:90pt;margin-bottom:0pt;text-indent:-18pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">b)<span style="width:9.67pt;text-indent:0pt;display:inline-block">&#160;</span>Value of Stock Options</span></span></p><p style="margin-top:0pt;margin-left:72pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company provides compensation benefits to its employees, directors, officers, and consultants, through a stock option plan. The fair value of each option award is estimated on the date of grant using the Black-Scholes option pricing model. Expected volatility assumption used in the model is based on the historical volatility of the Company's share price. The Company uses historical data to estimate the period of option exercises for use in the valuation model. The risk-free interest rate for the expected term of the option is based on the yields of government bonds. Changes in these assumptions, especially the share price volatility and the expected life determination could have a material impact on the Company's profit and loss for the periods presented. All estimates used in the model are based on historical data which may not be representative of future results.</span></span></p>
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<div><p style="margin-top:0pt;margin-left:54pt;margin-bottom:0pt;text-align:justify;text-indent:-18pt;font-size:10pt;font-family:Times New Roman, Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>l.</strong><span style="text-indent:0pt">&#160; &#160; &#160;</span><strong>Concentration of credit risk</strong></span></span></p><p style="margin:0pt">&#160;</p><p style="margin-top:0pt;margin-left:36pt;margin-bottom:0pt;text-align:justify;font-size:10pt;font-family:Times New Roman, Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company places its cash with high credit quality financial institution.</span></span></p><p style="margin:0pt">&#160;</p></div>
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PaymentsOfStockIssuanceCosts
9748 USD
CY2018Q3 enrt Class Of Warrant Or Right Grants In Period
ClassOfWarrantOrRightGrantsInPeriod
202500 shares
CY2019Q1 enrt Class Of Warrant Or Right Grants In Period
ClassOfWarrantOrRightGrantsInPeriod
502600 shares
CY2019 enrt Class Of Warrant Or Right Grants In Period
ClassOfWarrantOrRightGrantsInPeriod
8436869 shares
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
2000000 shares
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.02
CY2020Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
13236869 shares
CY2018Q3 enrt Class Of Warrant Or Right Outstanding Weighted Average Exercise Price
ClassOfWarrantOrRightOutstandingWeightedAverageExercisePrice
0.06
CY2019Q3 enrt Class Of Warrant Or Right Outstanding Weighted Average Exercise Price
ClassOfWarrantOrRightOutstandingWeightedAverageExercisePrice
0.06
CY2020Q3 enrt Class Of Warrant Or Right Outstanding Weighted Average Exercise Price
ClassOfWarrantOrRightOutstandingWeightedAverageExercisePrice
0.05
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.63 pure
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0116 pure
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P2Y
CY2020 enrt Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Estimated Fair Value Per Option
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsEstimatedFairValuePerOption
0.01 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
34132 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-422341 USD
CY2019Q3 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
2853138 USD
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.07
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
1000000 shares
CY2019Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
26141459 shares

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