10-Q 1 s112183_10q.htm 10-Q

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 10-Q

 

Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended   June 30, 2018

 

Transition Report pursuant to 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period _____________to______________

 

Commission File Number: 333-150582

 

BLOX, INC.
 

(Exact name of registrant as specified in its charter)

 

 

Nevada   20-8530914
(State or other jurisdiction of   (I.R.S. Employer Identification No.)
incorporation of organization)    

 

      Suite 708, 1155 West Pender Street, Vancouver, BC  Canada V6E 2P4
      (Address of principal executive offices) (ZIP Code)

 

Registrant’s telephone number, including area code: (604) 314-9293

 

 

  (Former name, former address and former fiscal year, if changed since last report  

 

Indicate by check mark whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days

☒ Yes ☐ No

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

☒ Yes ☐ No

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of ‘‘accelerated filer and large accelerated filer’’ in Rule 12b-2 of the Exchange Act. (Check one):

 

Large accelerated filer Accelerated filer
Non-accelerated filer Small reporting company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

☐Yes ☒ No

 

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: 142,366,414 shares of common stock as of August 20, 2018.

 

Transitional Small Business Disclosure Format ☐Yes ☒ No

 

   

 

 

BLOX, INC.

 

Quarterly Report on Form 10-Q
For The Quarterly Period Ended
June 30, 2018

 

INDEX

 

PART I - FINANCIAL INFORMATION 3
   
Item 1. Financial Statements 3
   
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 16
   
Item 3. Quantitative and Qualitative Disclosures About Market Risk 22
   
Item 4. Controls and Procedures 22
   
PART II - OTHER INFORMATION 23
   
Item 1. Legal Proceedings 23
   
Item 1A. Risk Factors 23
   
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23
   
Item 3. Defaults Upon Senior Securities 23
   
Item 4. Submission of Matters to a Vote of Securities Holders 23
   
Item 5. Other Information 23
   
Item 6. Exhibits 24
   
SIGNATURES 25

 

 2 

 

 

PART I

 

As used in this quarterly report on Form 10-Q, the terms “we”, “us” “our”, the “Company” or the “registrant” refer to Blox Inc., a Nevada corporation, and its wholly-owned subsidiaries.

 

Our financial statements are stated in United States Dollars (US$) unless otherwise stated and are prepared in accordance with United States Generally Accepted Accounting Principles.

 

In this quarterly report, unless otherwise specified, all references to “common shares” refer to the common shares in our capital stock.

 

Forward-Looking Statements

 

This quarterly report contains “forward-looking statements”. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including, but not limited to, any projections of earnings, revenue or other financial items; any statements of the plans, strategies and objections of management for future operations; any statements concerning proposed new services or developments; any statements regarding future economic conditions or performance; any statements or belief; and any statements of assumptions underlying any of the foregoing.

 

Forward-looking statements may include the words “may,” “could,” “estimate,” “intend,” “continue,” “believe,” “expect” or “anticipate” or other similar words. These forward-looking statements present our estimates and assumptions only as of the date of this report. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the dates on which they are made. Except as required by applicable law, including the securities laws of the United States, we do not intend, and undertake no obligation, to update any forward-looking statement.

 

Although we believe the expectations reflected in any of our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties. The factors impacting these risks and uncertainties include, but are not limited to:

 

our current lack of working capital;
our ability to obtain any necessary financing on acceptable terms;
timing and amount of funds needed for capital expenditures;
timely receipt of regulatory approvals;
our management team’s ability to implement our business plan;
effects of government regulation;
general economic and financial market conditions;
our ability to complete the required feasibility study for permitting of the Mansounia concession in Guinea;
our ability to develop our green mining business in Africa; and
the fact that our accounting policies and methods are fundamental to how we report our financial condition and results of operations, and they may require our management to make estimates about matters that are inherently uncertain.

 

PART I - FINANCIAL INFORMATION

 

Item 1.Financial Statements

 

The following unaudited interim financial statements of Blox, Inc. are included in this quarterly report on Form 10-Q.

 

 3 

 

 

Blox, Inc.

Condensed Interim Consolidated Balance Sheets

(Unaudited – Expressed in U.S. Dollars)

 

      As At 
   As At
June 30, 2018
   March 31, 2018
(audited)
 
         
ASSETS          
Current Assets          
Cash (Note 8)  $4,625   $28,481 
Prepaid expenses   7,269    4,167 
Total Current Assets   11,894    32,648 
           
Long term investments (Note 4)   335,569    113,008 
Equipment (Note 5)   71,560    71,560 
Mineral Property Interest (Note 6)   931,722    931,722 
Total Assets  $1,350,745   $1,148,938 
           
LIABILITIES          
Current Liabilities          
Accounts payable and accrued liabilities  $92,960   $103,977 
Due to shareholder (Note 11)   124,211    56,200 
Total Liabilities   217,171    160,177 
           
STOCKHOLDERS’S EQUITY          
Common Stock (Note 7)        
- 400,000,000 authorized          
- 142,366,414 issued (March 31, 2018 – 108,611,814)   1,305    967 
Additional Paid-in Capital   7,303,136    5,957,211 
Share Subscriptions Received   -    1,469,516 
Contributed Surplus   4,533,437    4,379,700 
Accumulated Other Comprehensive Income   138,731    35,794 
Deficit   (10,843,035)   (10,854,427)
Total Stockholders’ Equity   1,133,574    988,761 
Total Liabilities and Stockholders’ Equity  $   1,350,745    1,148,938 

 

See accompanying notes to the condensed interim consolidated financial statements.

 

 4 

 

 

Blox, Inc.

Condensed Interim Consolidated Statements of Comprehensive Income (Loss)

(Unaudited - Expressed in U.S. Dollars)

 

   Three Months Ended 
   June 30, 2018   June 30, 2017 
         
Operating Expenses          
Consulting and professional fees (Note 11)  $61,104   $91,062 
Depreciation   -    193 
Exploration (Note 6)   3,844    19,584 
Foreign exchange   1,237    21,654 
Office and administration fees (Note 11)   9,392    10,490 
Travel   8,852    2,311 
Total Operating Expenses   (84,429)   (145,294)
           
Other Income          
Unrealized gain on investment in warrants (Note 4)   95,774    - 
Interest income   47    - 
Net Income (Loss) for the Period  $11,392    (145,294)
           
Other Comprehensive Income          
Unrealized gain on investment in common shares (Note 4)   102,937    - 
Comprehensive Income (Loss) for the Period  $114,329   $(145,294)
           
Net Earnings (Loss) Per Common Share  $0.00   $(0.00)
Weighted Average Number of Shares Outstanding – Basic and diluted   132,842,785    108,611,814 

 

See accompanying notes to the condensed interim consolidated financial statements.

 

 5 

 

 

Blox, Inc.

Consolidated Statements of Changes in Stockholders’ Equity

Years ended March 31, 2018 and 2017

(Expressed in U.S. Dollars)

 

                       Accumulated         
           Additional   Share       Other       Total 
   Common Stock       Paid-in   Subscriptions   Contributed   Comprehensive       Stockholders’ 
   Shares   Amount   Capital   Received   Surplus   Income   Deficit   Equity 
                                 
April 1, 2017   108,611,814   $967   $5,957,211   $-   $3,500,756   $15,491   $(9,364,652)  $109,773 
                                         
Net loss for the period   -    -    -    -    -    -    (145,294)   (145,294)
June 30, 2017   108,611,814   $967   $5,957,211   $-   $3,500,756   $15,491   $(9,509,946)  $(35,521)
                                         
April 1, 2018   108,611,814   $967   $5,957,211   $1,469,516   $4,379,700   $35,794   $(10,854,427)  $988,761 
                                         
Private placement (Notes 7(a)&7(b))   30,000,000    300    752,700    (1,469,516)   747,000    -    -    30,484 
Stock options exercised (Note 7(c))   3,754,600    38    593,225    -    (593,263)   -    -    - 
Unrealized gain on investment in common shares (Note 4)   -    -    -    -    -    102,937    -    102,937 
Net income for the period   -    -    -    -    -    -    11,392    11,392 
June 30, 2018   142,366,414   $1,305   $7,303,136   $-   $4,533,437   $138,731   $(10,843,035)  $1,133,574 

 

 6 

 

 

Blox, Inc.

Condensed Interim Consolidated Statements of Cash Flows

(Unaudited – Expressed in U.S. Dollars)

 

   Three Months Ended 
   June 30, 2018   June 30, 2017 
CASH PROVIDED BY (USED IN):          
OPERATING ACTIVITIES          
Net income (loss) for the period  $11,392   $(145,294)
Non-cash items:          
Depreciation   -    193 
      Unrealized gain on investment in warrants   (95,774)   - 
Changes in non-cash working capital:          
Prepaid expenses   (3,103)   3,882 
Accounts payable and royalty payments payable   (11,016)   19,494 
Due to shareholder   68,011    - 
    (30,490)   (121,725)
           
INVESTING ACTIVITIES          
Purchase of long-term investments   (23,850)   - 
           
FINANCING ACTIVITIES          
Proceeds from private placement   30,484    - 
Proceeds from loans   -    113,811 
    30,484    113,811 
           
Decrease in Cash   (23,856)   (7,914)
Cash, Beginning of Period   28,481    14,085 
Cash, End of Period  $4,625   $6,171 
Non-Cash Transactions:          
Cashless stock options exercised  $593,263   $- 

 

See accompanying notes to the condensed interim consolidated financial statements.

 

 7 

 

 

Blox, Inc.

Notes to Condensed Interim Consolidated Financial Statements

Three Months Ended June 30, 2018 and 2017

(Unaudited – Expressed in U.S. Dollars)

 

1.Description of Business

 

Blox, Inc. (the “Company”) was incorporated on July 21, 2005 under the laws of the state of Nevada. The address of the Company is #708, 1155 West Pender Street, Vancouver, British Columbia, V6E 2P4, Canada.

 

The Company is primarily engaged in acquiring mineral assets in West Africa and applying green innovation to traditional mining methods and combining renewable energy and technology into the process.

 

2.Basis of Presentation

 

(a)          Statement of Compliance

 

These condensed interim consolidated financial statements are presented in accordance with generally accepted accounting principles in the United States (“US GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”) and are expressed in U.S. dollars. The Company’s fiscal year-end is March 31.

 

(b)          Basis of Presentation

 

The condensed interim consolidated financial statements of the Company comprise the Company and its subsidiaries. These condensed interim consolidated financial statements are prepared on the historical cost basis. These condensed interim consolidated interim financial statements have also been prepared using the accrual basis of accounting, except for cash flow information. In the opinion of management, all adjustments (including normal recurring ones), considered necessary for the fair statement of results have been included in these financial statements. All intercompany balances and transactions have been eliminated upon consolidation. The interim results are not necessarily indicative of results for the full year ending March 31, 2019, or future operating periods. For further information, see the Company’s annual consolidated financial statements for the year ended March 31, 2018, including the accounting policies and notes thereto.

 

(c)          Reporting and Functional Currencies

 

The functional currency of an entity is the currency of the primary economic environment in which the entity operates. The functional currency of the Company is the Canadian dollar (“CAD”). The Company’s reporting currency is the US dollar.

 

Transactions:

 

Monetary assets and liabilities denominated in foreign currencies are translated into functional currencies of the Company and its subsidiaries using period end foreign currency exchange rates and expenses are translated using the exchange rate approximating those in effect on the date of the transactions during the reporting periods in which the expenses were transacted. Non-monetary assets and liabilities are translated at their historical foreign currency exchange rates. Gains and losses resulting from foreign exchange transactions are included in the determination of net income or loss for the period.

 

Translations:

 

Foreign currency financial statements are translated into the Company’s reporting currency, the US dollar as follows:

 

(i)All of the assets and liabilities are translated at the rate of exchange in effect on the balance sheet date;

 

(ii)Expenses are translated at the exchange rate approximating those in effect on the date of the transactions; and

 

(iii)Exchange gains and losses arising from translation are included in other comprehensive income.

 

 8 

 

 

Blox, Inc.

Notes to Condensed Interim Consolidated Financial Statements

Three Months Ended June 30, 2018 and 2017

(Unaudited – Expressed in U.S. Dollars)

 

2.Basis of Presentation (continued)

 

(d)          Significant Accounting Judgments and Estimates (continued)

 

The preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of expenses during the period. Actual outcomes could differ from these estimates. Revisions to accounting estimates are recognized in the period in which the estimate is revised and may affect both the period of revision and future periods.

 

In applying the Company’s accounting policies, management has made certain judgments that may have a significant effect on the consolidated financial statements. Such judgments include the determination of the functional currencies and use of the going concern assumption.

 

(i)          Determination of Functional Currencies

 

In determining the Company’s functional currency, it periodically reviews its primary and secondary indicators to assess the primary economic environment in which the entity operates in determining the Company’s functional currencies. The Company analyzes the currency that mainly influences labor, material and other costs of providing goods or services which is often the currency in which such costs are denominated and settled. The Company also analyzes secondary indicators such as the currency in which funds from financing activities such as equity issuances are generated and the funding dependency of the parent company whose predominant transactional currency is the Canadian dollar. Determining the Company’s predominant economic environment requires significant judgment.

 

(ii)          Going Concern

 

These condensed interim consolidated financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has incurred a net income of $11,392 for the three months ended June 30, 2018 and has incurred cumulative losses since inception of $10,843,035 as at June 30, 2018.

 

These factors raise substantial doubt about the ability of the Company to continue as going concern. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary debt and/or equity financing to continue operations. These condensed interim consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Management of the Company has undertaken steps as part of a plan to sustain operations for the next fiscal year including plans to raise additional equity financing, controlling costs and reducing operating losses.

 

3.Recent Accounting Pronouncements

 

The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

 

 9 

 

 

Blox, Inc.

Notes to Condensed Interim Consolidated Financial Statements

Three Months Ended June 30, 2018 and 2017

(Unaudited – Expressed in U.S. Dollars)

 

4.Long Term Investments

 

       Fair Value as at 
   Number   June 30, 2018   March 31, 2018 
FVTPL            
Share purchase warrants   3,333,333   $118,907   $48,375 
    1,000,000    35,672    - 
         154,579    48,375 
Available-for-sale               
Common shares   3,333,333    139,223    64,633 
    1,000,000    41,767    - 
         180,990    64,633 
Total investment:       $335,569   $113,008 

 

On April 16, 2018, the Company participated in a private placement offering by its strategic partner, Ashanti Sankofa Inc (TSX.V- ASI), which shares the same management group and board of directors as the Company. The Company purchased 1,000,000 units at CAD$0.03 per unit for a total cost of $23,850 (CAD$30,000). Each unit consists of one common share and one transferable share purchase warrant with each warrant entitling the holder to acquire one additional common share at a price of CAD$0.05 for a period of 24 months from the closing of the private placement. On the date of issuance, the Company determined the fair value of the common share and warrants to be $13,420 and $10,430, respectively.

 

As at June 30, 2018, the fair value of common shares was $180,990 which resulted in an unrealized gain of $102,937 that was recorded in other comprehensive income. In addition, the fair value of warrants was $154,579, which resulted in an unrealized gain of $95,774 that was recorded in net income.

 

The June 30, 2018 fair value of the warrants was determined with the Black-Scholes option pricing model using the following assumptions: risk free interest rate of 1.92%, volatility of 200.6%, annual rate of dividend of 0%, and expected life of 2 years.

 

5.Equipment

 

   Machinery   Total 
Cost          
Balance at June 30 & March 31, 2018  $232,620   $232,620 
           
Accumulated Depreciation          
Balance at June 30 & March 31, 2018  $161,060   $161,060 
           
Carrying amounts          
As at June 30 & March 31, 2018  $71,560   $71,560 

 

Machinery in the amount of $71,560 has not been placed into production and is not currently being depreciated.

 

 10 

 

 

Blox, Inc.

Notes to Condensed Interim Consolidated Financial Statements

Three Months Ended June 30, 2018 and 2017

(Unaudited – Expressed in U.S. Dollars)

 

6.Mineral Property Interest

 

The Company entered into a Deed of Assignment and Assumption Agreement dated July 24, 2014 (the “Assumption Agreement”) among Joseph Boampong Memorial Institute Ltd. (“JBMIL”) and Equus Mining Ltd. (“EML”), Burey Gold Guinee sarl (“BGGs”) and Burey Gold Limited (“BGL”) and, collectively with EML and BGGs, (the “Vendors”), pursuant to which the Company agreed to assume JBMIL’s right to acquire a 78% beneficial interest in the Mansounia Concession (the “Property”) from the Vendors. The Company exercised that right and acquired a 78% beneficial interest in the Property.

 

The Property lies in the southwest margin of the Siguiri Basin, in the Kouroussa Prefecture, Kankan Region, in Guinea, West Africa and covers a surface area of 145 square kilometres. The Property is located approximately 80 kilometres west, by road, from the country’s third largest city, Kankan.

 

An exploration permit for the Property was granted by the Ministère des Mines et de la Géologie on August 20, 2013. As part of its due diligence, the Company obtained a legal opinion which confirmed that the license was in good standing at the time of acquisition. It is the Company’s intention to obtain an exploitation permit to allow the Company the right to mine and dispose of minerals for 15 years, with a possible 5-year extension. The Company has commenced work on the feasibility study required for obtaining this permit.

 

In consideration for the acquisition of the interest in the Property, the Company paid in cash $100,000 to BGL and $40,000 to EML and issued BGL and EML an aggregate of 6,514,350 shares of common stock of the Company (the “First Tranche Shares”), at a deemed price of $0.1765 per share, for an aggregate deemed value of $1,150,000. The First Tranche Shares were issued to BGL and EML in the proportions of 71.43% and 28.57%, respectively. For accounting purposes, the Company recorded the cash payment of $140,000, and $10,000 for an independent valuation of the Property. Additionally, $781,722 was capitalized to mineral property interests, being the fair value of the first tranche of shares. The fair value of the first tranche shares was based on the closing price of the Company’s shares on the OTCQB on July 24, 2014.

 

Within 14 days of commercial gold production being publicly declared from ore mined from the Property, the Company will issue BGL and EML a second tranche of shares of common stock of the Company (the “Second Tranche Shares”). The number of Second Tranche Shares to be issued shall be calculated by dividing $1,150,000 by the volume weighted average share price of the Company’s common stock over a 20-day period preceding the issuance date. The Second Tranche Shares shall be issued to BGL and EML in the proportions of 71.43% and 28.57%, respectively.

 

The mining exploration license for the Company was renewed for twelve months on December 11, 2017, and the Company is now proceeding with the feasibility study phase.

 

 

  

Mansounia Property,

West Africa

 
Acquisition of mineral property interest     
Cash payment  $150,000 
Issuance of 6,514,350 common shares   781,722 
Balance, June 30 & March 31, 2018  $931,722 

 

During the three months ended June 30, 2018, the Company spent $3,844 (2018 – $19,584) on the property.

 

 11 

 

 

Blox, Inc.

Notes to Condensed Interim Consolidated Financial Statements

Three Months Ended June 30, 2018 and 2017

(Unaudited – Expressed in U.S. Dollars)

 

7.Common Stock

 

(a)          Private Placement

 

On September 29, 2017, the Company entered into an agreement with Waratah Capital Ltd. (“Waratah”), a controlling shareholder, whereby Waratah and the Company agreed that in order to allow the Company to finalize its acquisition of Quivira Gold Ltd. pursuant to the Share Purchase Agreement dated June 22, 2013 among the Company, Quivira Gold Ltd. and Waratah (the “Quivira Agreement”), the Bridge Loan Agreement dated as of April 17, 2015, and amended on April 28, 2016 and November 1, 2016 between the Company and Waratah would be cancelled and the Company will utilize the loan proceeds advanced to close a private placement of $1,500,000 required to consummate the Company’s acquisition of Quivira Gold Ltd.

 

On April 24, 2018, the Company closed the private placement as part of the Quivira acquisition and issued 30,000,000 units at a price of $0.05 per unit for gross proceeds of $1,500,000. Each unit consists of one common share and one transferable share purchase warrant exercisable at a price of $0.05 per share for a term of five years.

 

(b)        Warrants

 

On April 24, 2018, the Company issued 30,000,000 share purchase warrants as part of the $1,500,000 private placement. The warrants expire five years from the date of issuance and are exercisable at $0.05 per share. The fair value of these warrants was determined with the Black-Scholes option pricing model using the following assumptions: risk free interest rate of 2.73%, volatility of 204.3%, annual rate of dividend of 0%, and expected life of 5 years.

 

The following table summarizes historical information about the Company’s warrants:

 

  

Number of

Warrants

   Weighted Average
Exercise Price ($)
   Weighted Average
Life Remaining
(Years)
 
             
Balance, March 31, 2018   88,000,000    0.05    0.70 
Issued   30,000,000    0.05    4.80 
Balance, June 30, 2018   118,000,000    0.05    1.74 

 

As at June 30, 2018, the following warrants were outstanding and exercisable:

 

 

Number of Warrants

   Exercise Price   Expiry Date 
          
 88,000,000   $0.05    February 27, 2019  
 30,000,000   $0.05    April 24, 2023 

 

(c)        Stock Options

 

On June 26, 2018, 4,000,000 stock options were exercised via cashless exercise at a price of $0.01 per share, resulting in issuance of 3,754,600 common shares. The cash component, equivalent to $40,000, is calculated as 245,400 shares at $0.163, the closing market price of the Company on the date of issuance.

 

The following table summarizes historical information about the Company’s incentive stock options:

 

 

Number of

options

    Weighted Average
Exercise Price ($)
    Weighted Average
Life Remaining
(Years)
 
              
Balance, March 31, 2018  7,650,000     0.12     3.20 
Exercised  (4,000,000)    0.01     2.10 
Balance, June 30, 2018  3,650,000     0.25     4.00 

 

 12 

 

 

Blox, Inc.

Notes to Condensed Interim Consolidated Financial Statements

Three Months Ended June 30, 2018 and 2017

(Unaudited – Expressed in U.S. Dollars)

 

7.Common Stock (continued)

 

(c)        Stock Options (continued)

 

At June 30, 2018, the following stock options were outstanding and exercisable:

 

 

Number of Options

   Exercise Price   Weighted Average
Remaining Life in Years
   Expiry Date 
              
 650,000   $0.15    1.1    August 7, 2019 
 3,000,000   $0.27    4.6    February 15, 2023 

 

 

8.Fair Value of Financial Instruments

 

The following provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into Levels 1 to 3 based on the degree to which fair value is observable:

 

Level 1 – fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities;

 

Level 2 – fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and

 

Level 3 – fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs).

 

Level 2 and 3 financial instruments are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment to estimation. Valuations based on unobservable inputs are highly subjective and require significant judgments. Changes in such judgments could have a material impact on fair value estimates. In addition, since estimates are as of a specific point in time, they are susceptible to material near-term changes. Changes in economic conditions may also dramatically affect the estimated fair values.

 

The following table sets forth the Company’s financial assets measured at fair value by level within the fair value hierarchy:

 

   Level 1   Level 2   Level 3   Total June 30, 2018 
Cash  $4,625   $-   $-   $4,625 
Long-term investment – Shares   180,990    -    -    180,990 
Long-term investment – Warrants   -    -    154,579    154,579 
Total  $185,615   $-   $157,579   $340,194 

 

   Level 1   Level 2   Level 3   Total March 31, 2018 
Cash  $28,481   $-   $-   $28,481 
Long-term investment – Shares   64,633    -    -    64,633 
Long-term investment – Warrants   -    -    48,375    48,375 
Total  $93,114   $-   $48,375   $141,489 

 

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Blox, Inc.

Notes to Condensed Interim Consolidated Financial Statements

Three Months Ended June 30, 2018 and 2017

(Unaudited – Expressed in U.S. Dollars)

 

9.Due to Shareholder

 

During the three months ended June 30, 2018, the Company received advances from Waratah Capital Ltd. (“Waratah”), a controlling shareholder of the Company, in the amount of $68,011. As at June 30, 2018, the Company was indebted to Waratah for $124,211 (March 31, 2018 - $56,200). The advances from shareholder are unsecured, non-interest bearing and have no fixed repayment terms.

 

10.Commitments

 

On June 22, 2013, the Company entered into a share purchase agreement with Waratah Capital Ltd. (“Waratah”) where the Company agreed to purchase all of Waratah’s right, title, and interest in the Quivira Gold (“Quivira”) shares, of which Waratah holds 100% of the outstanding shares. As consideration for the Quivira shares, the Company will issue to Waratah 60,000,000 shares of common stock and 60,000,000 warrants. Each warrant entitles the holder to purchase one additional common share at $0.05 for a period of five years from the closing date. Quivira, a subsidiary of Waratah Investments, owns and operates gold and diamond mining properties in Ghana.

 

The closing of the agreement is subject to the completion of due diligence and the completion of a private placement for $1,500,000 (Note 7(a)). As of the issuance date of these financial statements, the due diligence has not yet been completed.

 

11.Related Party Transactions

 

The Company’s related parties include its subsidiaries, key management personnel, controlling shareholders, and strategic partner. Transactions with related parties for goods and services are based on the exchange amount as agreed to by the related parties.

 

The Company incurred the following expenses with related parties during the three months ended June 30, 2018 and 2017:

 

   Three Months Ended June 30, 
   2018   2017 
Compensation – Directors  $22,924   $29,715 
Compensation – Former Director   -    27,484 
Compensation – Officer   7,744    4,640 
Compensation – Former Officer   12,262    11,688 
   $42,930   $73,527 

 

During the three months ended June 30, 2018, $2,179 (2017 - $2,097) were paid for bookkeeping services to a company owned by a former officer of the Company.

 

As at June 30, 2018, the Company was indebted to its related parties for the amounts as below:

 

   June 30, 2018   March 31, 2018 
         
Accounts payable and accrued liabilities  $73,689   $57,014 
Due to shareholder (Note 9)   124,211    56,200 

 

As at June 30, 2018, $73,689 (March 31, 2018 - $57,014) remains unpaid to directors and officers for consulting and professional fees. These amounts owing is unsecured, non-interest bearing and have no fixed repayment terms.

 

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Blox, Inc.

Notes to Condensed Interim Consolidated Financial Statements

Three Months Ended June 30, 2018 and 2017

(Unaudited – Expressed in U.S. Dollars)

 

12.Geographical Area Information

 

   Canada   Africa   Total 
             
June 30, 2018:               
                
Current assets  $11,894   $-   $11,894 
Long term investments   335,569    -    335,569 
Equipment   -    71,560    71,560 
Mineral property interest   -    931,722    931,722 
Total assets  $347,463   $1,003,282   $1,350,745 
                
Total liabilities  $217,171   $-   $217,171 
                
March 31, 2018:               
                
Current assets  $32,648   $-   $32,648 
Long term investments   113,008    -    113,008 
Equipment   -    71,560    71,560 
Mineral property interest   -    931,722    931,722 
Total assets  $145,656   $1,003,282   $1,148,938 
                
Total liabilities  $160,177   $-   $160,177 

 

 15 

 

 

Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

The following discussion should be read in conjunction with our financial statements and the related notes that appear elsewhere in this quarterly report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include those discussed below and elsewhere in this quarterly report on Form 10-Q.

 

Overview

 

We were incorporated in the State of Nevada on July 21, 2005, under the name “Nava Resources, Inc.” for the purpose of conducting mineral exploration activities. We were authorized to issue 400,000,000 shares of common stock, having a par value of $0.001 per share. On January 4, 2007, we obtained written consent from our shareholders to amend our Articles of Incorporation to change the par value of our common stock from $0.001 to $0.00001 per share, which change was effected on February 28, 2007. Effective July 30, 2013, we changed our name from “Nava Resources, Inc.” to “Blox, Inc.”.

 

Properties

 

On August 6, 2014, we announced that we entered into a Deed of Assignment and Assumption Agreement dated July 24, 2014 (the “Assumption Agreement”) with Joseph Boampong Memorial Institute Ltd. (“JBMIL”) and Equus Mining Ltd. (“EML”), Burey Gold Guinee sarl (“BGGs”) and Burey Gold Limited (“BGL”) and, collectively with EML and BGGs, (the “Vendors”), pursuant to which we agreed to assume JBMIL’s right to acquire a 78% beneficial interest in the Mansounia Concession (the “Mansounia Property”) from the Vendors, which right was exercised.

 

The Mansounia Property lies in the southwest margin of the Siguiri Basin, in the Kouroussa Prefecture, Kankan Region, in Guinea, West Africa and covers a surface area of 145 square kilometres. The Mansounia Property is located approximately 80 kilometres west, by road, from the country’s third largest city, Kankan.

 

An exploration permit for the Mansounia Property was granted by the Ministère des Mines et de la Géologie on August 20, 2013. On October 25, 2016, an exploration permit extension was granted for a period of 12-months. The purpose of the extension was to provide time to complete the required feasibility study and environmental impact assessment that will be submitted to Ministre des Mines et de la Géologie and the La Ministre de l’Environnement, des Eaux et Forêts. Work has commenced on the feasibility study and a consultant has been engaged to commence the environmental impact assessment. It is our intention to obtain an exploitation permit, which would give us the exclusive right to mine and dispose of minerals for 15 years, with a possible five-year extension. In February 2017, our directors and management teams from Vancouver and Guinea met in Accra, Ghana, to further the process of advancing a project viability study for the Mansounia Property. The environmental impact assessment of the concession is in progress. Once completed, the results of these two studies will be presented to the Guinea Ministry of Mines and Geology and the Environmental Protection Agency in Guinea, with a view to advancing towards an exploitation license.

 

In consideration for the acquisition of the interest in the Mansounia Property, we paid approximately $100,000 to BGL and $40,000 to EML and on July 31, 2014, issued BGL and EML an aggregate of 6,514,350 shares of common stock of our company (the “First Tranche Shares”), at a deemed price of $0.1765 per share, for an aggregate deemed value of $1,150,000. The First Tranche Shares were issued to BGL and EML in the proportions of 71.43% and 28.57%, respectively. For accounting purposes, we recorded the cash payment of $150,000 plus $781,722 as the fair value of the First Tranche Shares in mineral interest. The fair value of the First Tranche Shares was based on the closing price of our shares on the OTCQB on July 24, 2014.

 

Within 14 days of commercial gold production being publicly declared from ore mined from the Mansounia Property, we will issue BGL and EML a second tranche of shares of our common stock (the “Second Tranche Shares”). The number of Second Tranche Shares to be issued shall be calculated by dividing $1,150,000 by the volume weighted average share price of our common stock over a 20-day period preceding the issuance date. The Second Tranche Shares shall be issued to BGL and EML in the proportions of 71.43% and 28.57%, respectively.

 

In July 2017, we announced the completion of field activities associated with a detailed Environmental and Social Impact Assessment (ESIA), which concludes a significant stage toward obtaining a Mining License for the Mansounia Gold Project in Guinea.

 

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The ESIA document is used to communicate and discuss details of the project to all stakeholders, including government departments, environmental and other regulators, local communities as well as current and prospective shareholders. Apart from assessing the project’s environmental impact, the document also covers risk mitigation and potential benefits to local residents. The ESIA is the beginning of an ongoing process of involvement on all social and environmental fronts.

 

We engaged the internationally credentialed SAMEC (Security Africa Mining and Environmental Consulting) based in Conakry, to undertake the field-associated aspects of the ESIA program, which included - but was not limited to - addressing the following aspects:

 

Physical environment.
Biological environment.
Characterization of flora and fauna.
Characterization of aquatic species.
Characterization of habitat critical for ecological processes.
Inventories:
oBotanical inventory.
oInventory of mammals.
oInventory of birds.
oHerpetological inventory.
oInventory of ants.
Ecological study of freshwater.
Fish sampling.
Freshwater macroinvertebrates.
Social and Environmental Aspects:
Issues of the project.
Consultation of stakeholders.
Identification and analysis of the impacts of the project.
Proposal of mitigation of environmental impacts.
Management of risks and accidents.
Development of an environmental and social management plan (ESMP).

 

Based on the highly encouraging results obtained from historical soils geochemical programs and in-line with recent desktop and field studies undertaken by Spiers Geological Consultants (SGC 2016), a number of key target areas were identified for follow-up field activities. Our understanding of the deposit and surrounding areas continues to grow with each field season, and, to date, robust geological and structural context for the area/s have been developed using modelling software. The model is based on, and continually refined, using the pre-existing regional geochemical soil and rock chip sampling and drill-hole data from the Mansounia Property area. Further funding is required to explore these new target areas, which is now a priority for management.

 

We retained the consulting group, Scott-Taylor Ltd., to undertake a thorough site visit as part of the process of further examining the economic potential of the Mansounia Property. Scott-Taylor Ltd. undertook a field visit to the Mansounia Property to focus on areas where significant outcrops exist, in addition to the verification of collar locations for selected previously drilled RC and Diamond holes.

 

The deep weathering and extensive lateritic cover has resulted in limited outcrop of Birimian lithologies within the project area. Reconnaissance mapping located outcrops of weathered brecciated granitoid, volcano sedimentary and metasedimentary lithologies. A number of outcrops with extensive quartz veining were identified, particularly within the brecciated granitoid and were sampled.

 

 17 

 

 

Previous structural analysis has identified a number of target areas for further exploration. The rock chip samples reported in this new release are located with target area 5, as shown below.

 

Mansounia Project: Current target areas.

 

 

 

In total, 15 samples were collected for assays during the field visit. Four samples returned gold grades from 0.49g/t to 3.04g/t are shown below.

 

Sample ID  Eastings   Northing   RL   Au (ppm) 1   Au (ppm) 2 
Man002   415153    1141509    424    1.03    0.92 
Man003   415155    1141509    424    3.08    3.00 
Man007   415172    1141545    441    0.49    0.48 
Man012   415103    1141596    419    1.04    1.02 

 

The most encouraging aspect of the assay results from the outcrop samples is the fact that these samples are located approximately five kilometers south of the Mansounia resource area and indicate that gold mineralization occurs to the south of the currently identified Mansounia deposit. These outcrop sampling assays are very encouraging and warrant further exploration to unlock the full potential of the Mansounia license area.

 

A program to commence auger drilling and regolith mapping proximal to the currently drilled Mansounia resource, including the area where the rock chip samples were collected, was in the process of being carried out at the time this report was being compiled. No results are available at this time. In the event of positive results from the auger drilling program, it is anticipated that RC and Aircore drilling will then be carried out to follow up any identified geochemical anomalies identified by the auger drilling program.

 

 18 

 

 

On July 6, 2018, the Company announced that a new drilling target has been defined by a 2.5km long Gold in Soil anomaly, at the Mansounia Gold Project (see Exhibit).

 

Pramkese, Osenase and Asamankese, Ghana, West Africa

 

On June 22, 2013, we entered into a share purchase agreement with Waratah Investments Limited (“Waratah”) whereby we agreed purchase all of Waratah’s right, title, and interest in the Quivira Gold (“Quivira”) shares, of which Waratah holds 100% of the outstanding shares. As consideration for the Quivira shares, we agreed to issue to Waratah 60,000,000 shares of common stock and 60,000,000 warrants. Each warrant entitles the holder to purchase one additional common share at $0.05 for a period of five years from the closing date. Quivira, a subsidiary of Waratah, owns and operates gold and diamond mining properties in Ghana.

 

The closing of the agreement is subject to the completion of a private placement financing of up to $1,500,000, consisting of units priced at $0.05 per unit, with each unit to be comprised of one common share and one share purchase warrant, exercisable at $0.05 for five years. Closing the Agreement is also conditional upon receiving legal opinions of Ghana counsel confirming various matters relating to the laws of Ghana, including corporate and title opinions; the Company receiving legal opinions of Australian counsel confirming various matters relating to the laws of Australia, including corporate and title opinions; completion of certain ongoing transactions by Quivira relating to the transfer of title to certain assets and to an assignment of debt; and preparation of U.S. GAAP consolidated financial statements for Quivira.

 

Our directors conducted their first visit to Ghana in August 2015, when they visited the Birim Region where the three Ghanaian concessions are located. The objective was to carry out a geological reconnaissance over the areas to identify potentially favourable lithologies.  The directors inspected the existing field programs in Ghana and oversaw the planning and implementation of programs for the near future.

 

Going Concern

 

Our financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. We have not yet established an ongoing source of revenues sufficient to cover our operating costs and to allow us to continue as a going concern. We have incurred a net income of $11,392 for the three months ended June 30, 2018, and have incurred cumulative losses since inception of $10,843,035. These factors raise substantial doubt about the ability of the Company to continue as going concern. Our ability to continue as a going concern is dependent on our ability to continue obtaining adequate capital to fund operating losses until we become profitable. If we are unable to obtain adequate capital, we could be forced to significantly curtail or cease operations.

 

We will need to raise additional funds to finance continuing operations. However, there are no assurances that we will be successful in raising additional funds. Without sufficient additional financing, it would be unlikely for us to continue as a going concern. Our ability to continue as a going concern is dependent upon our ability to successfully accomplish the plans described in this quarterly report and eventually secure other sources of financing and attain profitable operations.

 

Results of Operations

 

Three Months Ended June 30, 2018 and 2017

 

The following summary of our results of operations should be read in conjunction with our unaudited consolidated interim financial statements for the three months ended June 30, 2018 and 2017, which are included herein.

 

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Expenses

 

The expenses were as follows:

 

   Three Months Ended June 30 
   2018
$
   2017
$
 
Consulting and professional fees   61,104    91,062 
Depreciation   -    193 
Exploration expenses (Note 5)   3,844    19,584 
Foreign exchange   1,237    21,654 
Office and administration (Note 11)   9,392    10,490 
Travel expenses   8,852    2,311 
Operating Expenses   (84,429)   (145,294)
           
Unrealized gain on investment in warrants   95,774    - 
Interest income   47    - 
Net income (loss)   11,392    (145,294)

 

We incurred a net income of $11,392 for the three months ended June 30, 2018 (“Q1 2019”), compared to net loss of $145,294, in the same period in June 30, 2017 (“Q1 2018”). Overall, the operating cost in Q1 2019 is much lower than Q1 2018. In Q1 2019, an unrealized gain of $95,774 incurred is primarily due to holding the investment in ASI’s warrants. The following is a breakdown of the operating expenses during Q1 2019, compared to Q1 2018: consulting and professional fees decreased from $91,062 in Q1 2018 to $61,104 in Q1 2019; office and administration expenses decreased slight from $10,490 in Q1 2018 to $9,392 in Q1 2019; foreign exchange decreased from $21,654 from Q1 2018 to $1,237 in Q1 2019; travel costs were increased from $2,311 in Q1 2018 to $8,852 in Q1 2019; and the explorations costs decreased from $19,584 for Q1 2018 to $3,844 in Q1 2019 due to slight decreased activity on the Mansounia Property.

 

Management anticipates operating expenses will materially increase in future periods as we focus on green mineral development and incur increased costs as a result of being a public company with a class of securities registered under the Securities Exchange Act of 1934.

 

Liquidity and Capital Resources

 

Working Capital

 

Continuing Operations  June 30, 2018   March 31, 2018 
Current Assets  $11,894   $32,648 
Current Liabilities   217,171    160,177 
Working Capital Deficit  $(205,277)  $(127,529)

 

Current Assets

 

The nominal decrease in current assets as of June 30, 2018 compared to March 31, 2018 was primarily due to a decrease in cash from $28,481 to $4,625.

 

Current Liabilities

 

Current liabilities as at June 30, 2018 increased by $56,994 since March 31, 2018, primarily due to additional expenses being incurred during the current quarter.

 

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Cash Flow

 

Our cash flow was as follows:

 

   Three months Ended June 30 
   2018
$
   2017
$
 
Net cash used in operating activities   (30,490)   (121,725)
Net cash used in investing activities   (23,850)   - 
Net cash provided by financing activities   30,484    113,811 
Increase (decrease) in cash and cash equivalents   (23,856)   (7,914)

 

Operating activities

 

The decrease in net cash used in operating activities for the three months ended June 30, 2018, compared to the same period in 2017 was primarily as a result of decreased operating activities on the Mansounia property in the current quarter.

 

Investing activities

 

The increase in investing activities for the three months ended June 30, 2018 as the Company participated in Ashanti Sankofa Inc (TSX.V-ASI)’s private placement in April.

 

Financing activities

 

There is a decrease net cash provided by financing activities for the three months ended June 30, 2018, compared to the same period in 2017.

 

Critical Accounting Policies

 

There have been no significant changes to the critical accounting policies as described in our Annual Form 10-K for the year ended March 31, 2018.

 

Cash Requirements

 

Our current cash position is not sufficient to meet our present and near-term cash needs.  We will require additional cash resources, including the sale of equity or debt securities, to meet our planned capital expenditures and working capital requirements.  For the next 12 months we estimate that our capital needs will be $250,000 to $500,000 and we currently have approximately $4,600 in cash. We will seek to sell additional equity or debt securities or obtain additional credit facilities. The sale of additional equity securities will result in dilution to our stockholders. The incurrence of indebtedness will result in increased debt service obligations and could require us to agree to operating and financial covenants that could restrict our operations or modify our plans to grow the business. Financing may not be available in amounts or on terms acceptable to us, if at all. Any failure by us to raise additional funds on terms favorable to us, or at all, will limit our ability to expand our business operations and could harm our overall business prospects.

 

Off-Balance Sheet Arrangements

 

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to our stockholders.

 

Contractual Obligations

 

Not applicable.

 

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Item 3.Quantitative and Qualitative Disclosures About Market Risk

 

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information required under this item.

 

Item 4.Controls and Procedures

 

Evaluation of Disclosure Controls and Procedures

 

We maintain “disclosure controls and procedures,” as such term is defined in Rule 13a-15(e) under the Securities Exchange Act of 1934 (the “Exchange Act”), that are designed to ensure that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission rules and forms, and that such information is accumulated and communicated to our management, including our Principal Executive Officer and Principal Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. We conducted an evaluation under the supervision and with the participation of our Principal Executive Officer and Principal Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this report pursuant to Rule 13a-15 of the Exchange Act. Based on this Evaluation, our Principal Executive Officer and Principal Financial Officer concluded that our Disclosure Controls were effective as of the end of the period covered by this report.

 

Changes in Internal Control Over Financial Reporting

 

There were no changes in our internal controls that occurred during the quarter covered by this report that have materially affected, or are reasonably likely to materially affect our internal controls.

 

 22 

 

 

PART II - OTHER INFORMATION

 

Item 1.Legal Proceedings

 

We are not a party to any pending legal proceeding. Management is not aware of any threatened litigation, claims or assessments.

 

Item 1A.Risk Factors

 

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information required under this item.

 

Item 2.Unregistered Sales of Equity Securities and Use of Proceeds

 

On September 29, 2017, the Company entered into an agreement with Waratah Capital Ltd. (“Waratah”), a controlling shareholder, whereby Waratah and the Company agreed that in order to allow the Company to finalize its acquisition of Quivira Gold Ltd. pursuant to the Share Purchase Agreement dated June 22, 2013 among the Company, Quivira Gold Ltd. and Waratah (the “Quivira Agreement”), the Bridge Loan Agreement dated as of April 17, 2015, and amended on April 28, 2016 and November 1, 2016 between the Company and Waratah would be cancelled and the Company will utilize the loan proceeds advanced to close a private placement of $1,500,000 required to consummate the Company’s acquisition of Quivira Gold Ltd.

 

On April 24, 2018, the Company closed the private placement as part of the Quivira acquisition and issued 30,000,000 units at a price of $0.05 per unit for gross proceeds of $1,500,000. Each unit consists of one common share and one transferable share purchase warrant exercisable at a price of $0.05 per share for a term of five years.

 

The above securities were issued to non-US persons (as that term is defined in Regulation S of the Securities Act of 1933), in offshore transactions relying on Regulation S of the Securities Act of 1933, as amended.

 

Item 3.Defaults Upon Senior Securities

 

None.

 

Item 4.Mine Safety Disclosure

 

Not applicable.

 

Item 5.Other Information

 

On June 26, 21018, Donna Moroney resigned as the Corporate Secretary of the Company.

 

On July 13, 2018, Trevor Pickett was appointed as the Chief Executive Officer of the Company on a permanent basis from his current interim position.

 

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Item 6. Exhibits

 

Number Exhibit Description
   
31.1 Certification of the Chief Executive Officer pursuant to Rule 13a-14 Or 15d-14 of the Securities Exchange Act Of 1934,as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
   
31.2 Certification of the Chief Financial Officer pursuant to Rule 13a-14 Or 15d-14 of the Securities Exchange Act Of 1934,as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
   
32.1 Certification of the Chief Executive Officer pursuant to 18 U.S.C.  Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
   
32.2 Certification of the Chief Financial Officer pursuant to 18 U.S.C.  Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
   
99.1 News Release Dated July 6, 2018
   
101 ** Interactive data files formatted in XBRL (eXtensible Business Reporting Language): (i) the Consolidated Balance Sheets, (ii) the Consolidated Statements of Operations, (iii) the Consolidated Statements of Cash Flows, and (iv) the Notes to the Consolidated Financial Statements.
   
  101.INS XBRL Instance Document
     
  101.SCH XBRL Taxonomy Extension Schema Document
     
  101.CAL XBRL Taxonomy Extension Calculation Linkbase Document
     
  101.DEF XBRL Taxonomy Extension Definition Linkbase Document
     
  101.LAB XBRL Taxonomy Extension Label Linkbase Document
     
  101.PRE XBRL Taxonomy Extension Presentation Linkbase Document

 

** XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

 

 24 

 

 

SIGNATURES

 

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

BLOX INC.

 

By: /s/ Trevor Pickett  
Name: Trevor Pickett  
Title: Chief Executive Officer  
     
Date: August 20, 2018  

 

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