Quartz Mountain Resources Ltd 6-K, filed Mar 30, 2021

Quartz Mountain Resources Ltd (QZMRF)

6-K 2021-03-30 For: 2021-03-29

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Added on April 08, 2026

About this 6-K

Quartz Mountain Resources Ltd filed this 6-K on March 30, 2021.

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99.1	Condensed Consolidated Interim Financial Statements for the three and six months ended January 31, 2021 and 2020

99.2	Management’s Discussion and Analysis for the three and six months ended January 31, 2021 and 2020

99.3	Form 52-109FV2 Certification of Interim Filings Venture Issuer Basic Certificate - CEO

99.4	Form 52-109FV2 Certification of Interim Filings Venture Issuer Basic Certificate - CFO

	Quartz Mountain Resources Ltd.
	(Registrant)

Date: March 29, 2021	By:	/s/ Sebastian Tang
	Name:	Sebastian Tang
	Title:	Chief Financial Officer

		January 31,	(Audited) July 31,
	Note	2021	2020
Assets
Current assets Cash		$60,331	$206,529
Amounts receivable and other assets	3	14,608	12,029
		74,939	218,558
Non-current assets
Mineral property interests	4	1	1
Total assets		$74,940	$218,559
Liabilities and Shareholders' Equity
Current liabilities Amounts payable and other liabilities	6	$11,384	$4,176
Due to related parties	7(a) & (b)	7,775	75,832
Total liabilities		19,159	80,008
Shareholders' equity
Share capital	5(a)	27,213,442	27,158,423
Reserves		592,011	592,011
Accumulated deficit		(27,749,672)	(27,611,883)
Total shareholders' equity		55,781	138,551
Total liabilities and shareholders' equity		$74,940	$218,559

/s/ Trevor Thomas	/s/ Leonie Tomlinson

Trevor Thomas	Leonie Tomlinson
Director	Director

		Three months ended January 31,		Six months ended January 31,
	Note	2021	2020	2021	2020
Expenses
Exploration and evaluation		$3,628	$–	$59,920	$–
Assays and analysis		2,779	–	4,769	–
Geological		–	–	11,200	–
Helicopter and fuel		–	–	29,520	–
Site activities		849	–	13,252	–
Travel and accommodation		–	–	1,179	–

		39,251	64,454	78,946	108,779
Administrative fees	7(a)	11,438	19,984	21,043	34,742
Insurance		7,995	–	15,990	–
IT Services		3,000	–	6,000	–
Legal, accounting and audit		8,964	9,613	18,276	17,113
Office and miscellaneous		805	14,508	1,127	26,793
Regulatory, trust and filing		7,049	20,349	16,510	30,131

Operating expenses		(42,879)	(64,454)	(138,866)	(108,779)

Other items
Interest income		250	9	720	326
Interest expense		–	(2,636)	–	(5,210)
Foreign exchange gain (loss)		–	(159)	357	(437)
Gain on settlement of debt	7(b)	–	2,779,882	–	2,779,882
Loss and comprehensive loss for the period		$(42,629)	$2,712,642	$(137,789)	$2,665,782

Basic (loss) per common share		$(0.00)	$0.23	$(0.01)	$0.23

Diluted (loss) per common share		$(0.00)	$0.23	$(0.00)	$0.23

Weighted average number of common shares outstanding (note 5(c))

Basic		26,677,776	11,841,411	26,514,733	11,841,411

Diluted		39,114,141	11,841,411	39,114,141	11,841,411

	January 31, 2021	July 31, 2020
Sales tax receivable	$1,859	$4,820
Prepaid insurance	12,749	7,209
Total	$14,608	$12,029

	Number of warrants	Weighted average exercise price ($)
Balance July 31, 2019	–	$–
Granted	–	–
Balance January 31, 2020	–	$–
Balance July 31, 2020	13,636,365	$0.05
Exercised	(1,200,000)	0.05
Balance January 31, 2021	12,436,365	$0.05
The outstanding warrants at January 31, 2021 are as follows:

Expiry Date	Price per share	Warrants Outstanding
March 26, 2025	$0.05	12,436,365

	January 31, 2021	January 31, 2020
Weighted average common shares outstanding	26,351,689	11,841,411
Plus net incremental shares from assumed conversions: Warrants	12,762,452	–
Diluted weighted average common shares outstanding	39,114,141	11,841,411

	Three months ended		Six months ended
	January 31,		January 31,
	2021	2020	2021	2020
Services received based on management services agreement	$11,437	$19,984	$21,738	$34,742
Reimbursement of third party expenses paid	2,964	4,825	4,605	8,305
Total	$14,401	$24,809	$26,343	$43,047

	January 31, 2021	July 31, 2020
Balance payable to HDSI	$6,725	$75,832

1.1	Date	3
1.2	Overview	3
1.3	Selected Annual Information	5
1.4	Summary of Quarterly Results	5
1.5	Results of Operations and Financial Condition	5
1.6	Liquidity	6
1.7	Capital Resources	7
1.8	Off-Balance Sheet Arrangements	7
1.9	Transactions with Related Parties	7
1.10	Fourth Quarter	8
1.11	Proposed Transactions	8
1.12	Critical Accounting Estimates	8
1.13	Changes in Accounting Policies including Initial Adoption	8
1.14	Financial Instruments and Other Instruments	8
1.15	Other MD&A Requirements	8
1.16	Risk Factors	10

	Fiscal Quarter Ended
	Jan 31, 2021	Oct 31, 2020	Jul 31, 2020	Apr 30, 2020	Jan 31, 2020	Oct 31, 2019	Jul 31, 2019	Apr 30, 2019
Income (loss) for the period	$(43)	$(95)	$(75)	$(66)	$2,713	$(47)	$(37)	$(38)
Basic earnings (loss) per common share	$(0.00)	$(0.00)	$(0.00)	$(0.00)	$0.23	$(0.00)	$(0.00)	$(0.00)
Diluted earnings (loss) per common share	$(0.00)	$(0.00)	$(0.00)	$(0.00)	$0.23	$(0.00)	$(0.00)	$(0.00)

(a)	exploration and evaluation assets or expenditures	The required disclosure is presented in Section 1.5 of this MD&A.
(b)	expensed research and development costs	Not applicable
(c)	intangible assets arising from development	Not applicable
(d)	general and administration expenses	The required disclosure is presented in Section 1.5 of this MD&A.
(e)	any material costs, whether expensed or recognized as assets, not referred to in paragraphs (a) through (d)	None


	NOTE TO READER In contrast to the certificate required for non-venture issuers under National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings (NI 52-109), this Venture Issuer Basic Certificate does not include representations relating to the establishment and maintenance of disclosure controls and procedures (DC&P) and internal control over financial reporting (ICFR), as defined in NI 52-109. In particular, the certifying officers filing this certificate are not making any representations relating to the establishment and maintenance of i) controls and other procedures designed to provide reasonable assurance that information required to be disclosed by the issuer in its annual filings, interim filings or other reports filed or submitted under securities legislation is recorded, processed, summarized and reported within the time periods specified in securities legislation; and ii) a process to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with the issuer’s GAAP. The issuer’s certifying officers are responsible for ensuring that processes are in place to provide them with sufficient knowledge to support the representations they are making in this certificate. Investors should be aware that inherent limitations on the ability of certifying officers of a venture issuer to design and implement on a cost effective basis DC&P and ICFR as defined in NI 52-109 may result in additional risks to the quality, reliability, transparency and timeliness of interim and annual filings and other reports provided under securities legislation.