Company: FECOF
Filing Date: 2025-07-15
Form Type: 20-F
Source: 0001477932-25-005053
Chunk: 76

Company: FEC Resources Inc.
Filing Date: 2025-07-15
Form: 20-F
Item: Item 18
Chunk 76
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 shares represented 6.8% ...  

  F-18               
  Table of Contents  

FEC RESOURCES INC.

NOTES TO THE FINANCIAL STATEMENTS

December 31, 2024

( Expressed in United States Dollars)

Note 9 Related Party Transactions and Balances(continued)

  (iii)      On March 10, 2022, the Company announced that it agreed to fund an additional cash call for pre-drilling costs received from FEL. The advance to FEL was via non-interest bearing loans. In order...  
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Note 10 General and administrative expenses

                                December 31,                   December 31,                   December 31,               
                                                                                                                         
                                2024                           2023                           2022                       
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Professional fees             $                  54,310      $                  23,841      $                  31,080  
  Bank charges                                        886                            666                          3,705  
  Listing and filing fees                          19,929                         25,183                         15,549  
  Office and miscellaneous                         19,219                         22,572                         23,861  
  Consulting (Note 9)                              86,397                         86,749                        103,671  
  Foreign exchange                                  1,500                            191                          4,712  
                                $                 182,241      $                 159,202      $                 182,578  

Note 11 Income Taxes

Reconciliation of accounting and taxable income, for the years ended December 31 are as follows:

                                                               December 31,                     December 31,                     December 31,                 
                                                                                                                                                              
                                                               2024                             2023                             2022                         
  Loss before income taxes                                     $                 ( 244,437      $                 ( 191,795      $                 ( 193,182  
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  Tax expense (recovery) based on statutory rate of 27.0%                         ( 66,000                         ( 52,000                         ( 52,000  
  Permanent differences and other                                                  824,000                         ( 84,000                          ( 4