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Prospectus - Kingsrose Mining

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Section 9<br />

Investigating Accountant’s Report<br />

To be read in conjunction with the notes to the unaudited financial statements<br />

APPENDIX 2<br />

STATEMENT OF CHANGES IN EQUITY<br />

FOR THE PERIOD 20 APRIL 2007 TO 31 AUGUST 2007<br />

Issued Accumulated Total<br />

Capital<br />

Losses<br />

$ $ $<br />

UNAUDITED 31 AUGUST 2007<br />

Opening balance 20 April 2007 10,020 - 10,020<br />

Net loss for period - (735,523) (735,523<br />

Balance at 31 August 2007 10,020 (735,523) (725,503<br />

PRO FORMA<br />

Opening balance 20 April 2007 10,020 - 10,020<br />

Issue of shares 7,313,000 - 7,313,000<br />

Less costs of issue (400,000) - (400,000)<br />

Net loss for period - (735,523) (735,523<br />

Balance at 31 August 2007 6,923,020 (735,523) 6,187,497<br />

To be read in conjunction with the notes to the unaudited financial statements<br />

Page 44

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