Company: FECOF
Filing Date: 2025-07-15
Form Type: 20-F
Source: 0001477932-25-005053
Chunk: 59

Company: FEC Resources Inc.
Filing Date: 2025-07-15
Form: 20-F
Item: Item 18
Chunk 59
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ITEM 18. FINANCIAL STATEMENTS.

The Auditors’ Report, financial statements and notes thereto, schedules thereto, as required under Item 18 are found immediately below.

Financial Statements:

  Report of Auditors, dated July 14, 2025 (PCAOB ID 1173)                                                                    F-2  
  Balance Sheets at December 31, 2024 and December 31, 2023                                                                  F-4  
  Statements of Loss and Deficit for the three Years ended December 31, 2024, December 31, 2023, and December 31, 2022.      F-5  
  Statements of Cash Flows for the three Years ended December 31, 2024, December 31, 2023, and December 31, 2022             F-7  
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  Notes to the Consolidated Financial Statements                                                                             F-8  

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FEC RESOURCES INC.

Financial Statements

As of December 31, 2024 and 2023

and for each of the years in the three-year period ended

December 31, 2024

(Expressed in United States dollars)

  F-1                
  Table of Contents  

Report of Independent Registered Public Accounting Firm

To the shareholders and the board of directors of FEC Resources Inc.

Opinion on the Financial Statements

We have audited the accompanying statements of financial position of FEC Resources Inc. (the "Company") as of December 31, 2024 and 2023, the related statements of comprehensive income (loss), changes in equity, and cash flows, for each of the three years in the period ended December 31, 2024, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and its financial performance and its cash flows for each of the three years in the period ended December 31, 2024, in conformity with IFRS Accounting Standards as issued by the International Accounting Standards Board (“ IASB”).

Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial statements, the Company has disclosed certain conditions