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 ~~September~~ December 3031, 2020

☐ Transition Report pursuant to 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period _____________to______________

Commission File Number: 000-53565

BLOX, INC. (Exact name of registrant as specified in its charter)

(Exact name of registrant as specified in its charter)

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

5^th Floor, 1177 Avenue of Americas, New York		NY 10036
(Address of principal executive offices)		(ZIP Code)

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

5th Floor, 1177 Avenue of Americas, New York		NY 10036
(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, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and " “emerging growth company"” in Rule 12b-2 of the Exchange Act. ~~(Check one):~~

Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☐ ~~Small~~Smaller reporting company ☒ Emerging growth 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~~ﬁnancial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Title of each class		Trading Symbol(s)		Name of each exchange on which registered

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: 264,541,664 shares of common stock as of ~~November~~July 209, ~~2020~~ 2021.

Transitional Small Business Disclosure Format ☐ Yes ☒ No

BLOX, INC.

Quarterly Report on Form 10-Q For The Quarterly Period Ended December 31, 2020

For The Quarterly Period Ended

September 30, 2020

INDEX

PART I - FINANCIAL INFORMATION 2 Item 1. Financial Statements 2 Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 17 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. ~~Mine~~Submission ~~Safety~~of ~~Disclosure~~Matters 23to a Vote of Securities Holders Item 5. Other Information 23 Item 6. Exhibits 24 SIGNATURES 25

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 secure exploration permits for our prospective properties in Ghana;;

	●	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 consolidated financial statements of Blox, Inc. are included in this quarterly report on Form 10-Q.

Blox, Inc.

Condensed Interim Consolidated Balance Sheets

(Unaudited – – Expressed in U.S. Dollars)

	~~As At~~			As At
	September 30, 2020			March 31, 2020
	As At December 31, 2020			March 31, 2020 (Audited)
				(Audited)
ASSETS
Current Assets
Cash and cash equivalent	$	18,036		$	27,551
Cash and cash equivalents	$	13,408		$	27,551
Prepaid expenses		118,167			5,167
Total Current Assets		2921,~~203~~575			32,718
Long term investments (Note 4)		~~146~~85,~~192~~085			61,091
Equipment (Note 5)		71,560			71,560
Total Assets	$	~~246~~178,~~955~~220		$	165,369
LIABILITIES
Current Liabilities
Accounts payable and accrued liabilities (Note 12)	$	~~295~~322,~~771~~917		$	294,379
Due to shareholder (Note 9)		391,214			391,214
Loan payable		428			-
Convertible debenture (Note 10)		61,130			120,480
Convertible debentures (Note 10)		84,929			120,480
Loan interest payable (Note 10)		54,~~129~~934			4,706
Total Liabilities		~~753~~804,~~672~~422			810,779
STOCKHOLDERS’ DEFICIENCY
Common Stock (Note 7) - 400,000,000 authorized - 264,541,664 issued (March 31, 2020 – 144,647,664)		2,527			1,328
Common Stock (Note 7) - 400,000,000 authorized with a par value of $0.00001 - 264,541,664 issued (March 31, 2020 – 144,647,664)		2,527			1,328
Additional Paid-in Capital		7,636,122			7,382,603
Contributed Surplus		27,~~213~~222,~~786~~990			27,279,356
Deficit		(35,~~359~~487,~~152~~841	)		(35,308,697	)
Total Stockholders’ Deficiency		(~~506~~626,~~717~~202	)		(645,410	)
Total Liabilities and Stockholders’ Deficiency	$	~~246~~178,~~955~~220		$	165,369

See accompanying notes to the condensed interim consolidated financial statements.

Blox, Inc.

Condensed Interim Consolidated Statements of Comprehensive Loss

(Unaudited - Expressed in U.S. Dollars)

	Three Months Ended						~~Six~~Nine Months Ended
	September 30, 2020			September 30, 2019			September 30, 2020			September 30, 2019
	December 31, 2020			December 31, 2019			December 31, 2020			December 31, 2019
Operating Expenses
Consulting and professional fees (Note 12)	$	2123,~~033~~557		$	4237,~~997~~385		$	4367,~~824~~381		$	77114,~~502~~887
Default penalties (Note 7)		-			-			35,000			-
Exploration (Note 6)		-			12,061			-			47,574
Exploration (Note 6)		-			10,408			-			35,513
Foreign exchange		5,173			2,936			14,391			5,677
Foreign exchange		4,140			964			9,218			2,741
Office and administration fees		6,043			2,796			25,976			24,316
Office and administration fees		12,165			15,772			19,933			21,520
Total Operating Expenses		(34,773	)		(55,178	)		(107,748	)		(192,454	)
Travel		-			(263	)		-			-
Total Operating Expenses		(37,338	)		(69,878	)		(107,975	)		(137,276	)
Other Expenses
Interest expenses (Note 10)		(1,~~507~~706	)		(~~626~~1,890	)		(24,~~390~~096	)		(~~626~~2,516	)
Loss on investment in warrants		-			(652,~~507~~156	)		-			(2023,~~854~~010	)
Accretion (Note 10)		(915,~~130~~763	)		(1627,~~788~~615	)		(1834,~~391~~154	)		(1644,~~788~~403	)
Debt issuance cost – cash (Note 10)		-			(10,000	)		(6,800	)		(10,000	)
Default penalties (7, 10)		15,340			-			50,340
Unrealized gain (loss) on investment in common shares (Note 4)		34,899			(100,113	)		85,101			(31,837	)
Debt issuance cost – cash (Note 10)		-			-			(6,800	)		(10,000	)
Net Income (Loss) and Comprehensive Income (Loss) for the Period	$	(13,076	)	$	(262,912	)	$	(50,455	)	$	(217,381	)
Unrealized gain (loss) on investment in common shares (Note 4)		(61,107	)		1,283			23,994			(30,554	)
Income (Loss) Per Common Share	$	0.00		$	(0.00	)	$	(0.00	)	$	(0.00	)
Net Loss and Comprehensive Loss for the Period	$	(128,689	)	$	(85,556	)	$	(179,144	)	$	(302,937	)
Weighted Average Number of Shares Outstanding – Basic and diluted		264,541,664			143,001,468			235,943,970			142,912,555
Loss Per Common Share	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)
Weighted Average Number of Shares Outstanding – Basic and diluted		264,541,664			143,172,664			245,511,199			142,999,573

See accompanying notes to the condensed interim consolidated financial statements.

Blox, Inc.

Consolidated Statements of Changes in Stockholders’ Equity (Deficiency)

~~Six~~ Nine Months ended ~~September~~December 3031, 2020 and 2019

(Expressed in U.S. Dollars)

		Common Stock						Additional Paid-in			Contributed								Total Stockholders’ Equity
																		Total
		Shares			Amount			Capital			Surplus				Deficit				(Deficiency)
							Additional											Stockholders’
April 1, 2019			142,822,664		$	1,309		$	7,337,352		$	15,658,030			$	(22,414,509	)		$	582,182
	Common Stock						Paid-in			Contributed								Equity
Net income for the period			-			-			-			-				45,531				45,531
	Shares			Amount			Capital			Surplus				Deficit				(Deficiency)
June 30, 2019			142,822,664			1,309			7,337,352			15,658,030				(22,368,978	)			627,713
April 1, 2019		142,822,664		$	1,309		$	7,337,352		$	15,658,030			$	(22,414,509	)		$	582,182
Commitment shares issued			300,000			1			13,838			-				-				13,839
Net income for the period		-			-			-			-				45,531				45,531
Warrants exercised			50,000			1			3,744			(1,245	)			-				2,500
June 30, 2019		142,822,664			1,309			7,337,352			15,658,030				(22,368,978	)			627,713
Warrants issued			-			-			-			50,867				-				50,867
Commitment shares issued		300,000			1			13,838			-				-				13,839
Convertible debenture - equity portion			-			-			-			46,638				-				46,638
Warrants exercised		50,000			1			3,744			(1,245	)			-				2,500
Net loss for the period			-			-			-			-				(262,912	)			(262,912	)
Warrants issued		-			-			-			50,867				-				50,867
September 30, 2019			143,172,664		$	1,311		$	7,354,934		$	15,754,290			$	(22,631,890	)		$	478,645
Convertible debenture - equity portion		-			-			-			46,638				-				46,638
April 1, 2020			144,647,664		$	1,328		$	7,382,603		$	27,279,356			$	(35,308,697	)		$	(645,410	)
Net loss for the period		-			-			-			-				(262,912	)			(262,912	)
Warrants exercised (Note 7)			32,894,589			329			50,537			(50,866	)			-				-
September 30, 2019		143,172,664			1,311			7,354,934			15,754,290				(22,631,890	)			478,645
Convertible debenture – equity portion (Note 10)			-			-			-			25,000				-				25,000
Net loss for the period		-			-			-			-				(114,103	)			(114,103	)
Convertible debenture -converted to shares (Note 10)			66,999,411			670			168,182			(39,704	)			-				129,148
December 31, 2019		143,172,664			1,311			7,354,934			15,754,920				22,745,993				364,542
Convertible debenture – default penalty shares (Note 7)			20,000,000			200			34,800			-				-				35,000
April 1, 2020		144,647,664		$	1,328		$	7,382,603		$	27,279,356			$	(35,308,697	)		$	(645,410	)
Net loss for the period			-			-			-			-				(37,379	)			(37,379	)
Warrants exercised (Note 7)		32,894,589			329			50,537			(50,866	)			-				-
June 30, 2020			264,541,664			2,527			7,636,122			27,213,786				(35,346,076	)			(493,641	)
Convertible debenture – equity portion (Note 10)		-			-			-			25,000				-				25,000
Net income for the period			-			-			-			-				(13,076	)			(13,076	)
Convertible debenture -converted to shares (Note 10)		66,999,411			670			168,182			(39,704	)			-				129,148
September 30, 2020			264,541,664		$	2,527		$	7,636,122		$	27,213,786			$	(35,359,152	)		$	(506,717	)
Convertible debenture – default penalty shares (Note 7)		20,000,000			200			34,800			-				-				35,000
Net loss for the period		-			-			-			-				(37,379	)			(37,379	)
June 30, 2020		264,541,664			2,527			7,636,122			27,213,786				(35,346,076	)			(493,641	)
Net loss for the period		-			-			-			-				(13,076	)			(13,076	)
September 30, 2020		264,541,664			2,527			7,636,122			27,213,786				(35,359,152	)			(506,717	)
Convertible debenture – equity portion (Note 10)		-			-			-			9,204				-				9,204
Net loss for the period		-			-			-			-				(128,689	)			(128,689	)
December 31, 2020		264,541,664		$	2,527		$	7,636,122		$	27,222,990			$	(35,487,841	)		$	(626,202	)

See accompanying notes to the condensed interim consolidated financial statements.

Blox, Inc.

Condensed Interim Consolidated Statements of Cash Flows

(Unaudited – – Expressed in U.S. Dollars)

	Six Months Ended
	Nine Months Ended
	September 30, 2020			September 30, 2019
	December 31, 2020			December 31, 2019
CASH PROVIDED BY (USED IN):
OPERATING ACTIVITIES
Net loss for the period	$	(50179,~~455~~144	)	$	(~~217~~302,~~381~~937	)
Non-cash items:
Loss on investment in warrants		-			2023,~~854~~010
Unrealized (gain) loss on investment in common shares		(8523,~~101~~994	)		3130,~~837~~554
Default penalties		35,000			-
Accretion		1834,~~391~~154			1644,~~788~~403
Interest accrued on convertible debenture		2,~~390~~101			~~626~~2,515
Convertible debenture transaction costs		6,800			-
Changes in non-cash working capital:
Prepaid expenses		(63,000	)		(6,000	)
Accounts payable and accrued liabilities		128,~~460~~700			1646,~~343~~550
Due to shareholder		-			60,~~593~~819
		(77,515	)		(76,340	)
		(99,383	)		(101,086	)
FINANCING ACTIVITIES
Proceeds from convertible debenture		74166,~~800~~840			150,000
Convertible debenture repayment		(74,800	)		-
Convertible debenture transaction costs		(6,800	)		(15,000	)
Warrants exercised		-			2,500
		68,000			137,500
		85,240			137,500
(Decrease) Increase in Cash		(914,~~515~~143	)		6136,~~160~~414
Cash, Beginning of Period		27,551			9,792
Cash, End of Period	$	1813,~~036~~408		$	7046,~~952~~206
Supplemental disclosure of cash flow information
Cash paid for interest	$	-		$	-
Cash paid for taxes	$	-		$	-
Issuance of common stock for loan interest payable	$	1,607		$	-

See accompanying notes to the condensed interim consolidated financial statements.

Blox, Inc.

Notes to Condensed Interim Consolidated Financial Statements

~~Six~~Nine Months Ended ~~September~~ 30December 31, 2020 and 2019

(Unaudited – Expressed in U.S. Dollars)

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 #1177 Avenue of Americas 5th Floor, New York, NY 10036.

The Company is primarily engaged in developing mineral exploration projects in Guinea, West Africa. On October 8, 2020, the Company’s common shares was removed from OTCQB and demoted to the OTC Pink reporting tier due to OTCQB bid price deficiency.

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, Blox Energy Inc. and Blox Minerals Guinea. These condensed interim consolidated financial statements are prepared on the historical cost basis. These condensed interim consolidated 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 condensed interim consolidated financial statements. All intercompany balances and transactions have been eliminated upon consolidation. ~~The~~These unaudited interim ~~results~~financial statements are condensed and do not ~~necessarily~~include ~~indicative~~all ofdisclosures ~~results~~ required for ~~the~~annual ~~full~~financial ~~year~~statements. ~~ending~~The ~~March~~organization and ~~31,~~business ~~2021~~of the Company, oraccounting ~~future~~policies ~~operating~~followed ~~periods.~~by ~~For~~the ~~further~~Company and other information, ~~see~~are contained in the notes to the Company’s ~~annual~~ audited consolidated financial statements ~~for~~filed ~~the~~as ~~year~~part ~~ended~~of the Company’s March 31, 2020, ~~including~~Annual ~~the~~Report ~~accounting~~on ~~policies~~Form ~~and~~10-K. ~~notes~~This ~~thereto~~quarterly report should be read in conjunction with such annual report.

(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 parent company is the Canadian dollar (“CAD”) and the functional currency of the subsidiaries is the US dollar. 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.

Blox, Inc.

Notes to Condensed Interim Consolidated Financial Statements

~~Six~~Nine Months Ended ~~September~~ 30December 31, 2020 and 2019

(Unaudited – Expressed in U.S. Dollars)

Basis of Presentation (continued)

(d)

Significant Accounting Judgments and Estimates

The preparation of these condensed interim 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~~Significant ~~the~~areas ~~Company’s~~requiring ~~accounting~~the ~~policies,~~use of management ~~has~~estimates ~~made~~include ~~certain~~assumptions ~~judgments~~and ~~that~~estimates ~~may~~relating ~~have~~to aasset ~~significant~~impairment ~~effect~~analysis, onshare-based ~~the~~payments ~~condensed interim~~and ~~consolidated~~warrants, ~~financial statements. Such judgments include the determination of the functional currencies~~ and valuation ~~use~~allowances offor ~~the going~~deferred ~~concern~~income ~~assumption~~tax assets.

~~Significant areas~~In ~~requiring~~applying the ~~use~~Company’s ofaccounting policies, management ~~estimates~~has ~~include~~made ~~assumptions~~certain ~~and~~judgments ~~estimates~~that ~~relating~~may tohave ~~asset~~a ~~impairment~~significant ~~analysis,~~effect ~~share-based~~on the condensed interim consolidated financial statements. ~~payments~~Such ~~and~~judgments ~~warrants,~~include ~~and~~the ~~valuation~~determination ~~allowances~~of ~~for~~the ~~deferred~~functional ~~income~~currencies ~~tax~~and ~~assets~~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 assumes the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has incurred a net loss of $50179,~~455~~144 for the ~~six~~nine months ended ~~September~~December 3031, 2020 and has incurred cumulative losses since inception of $35,~~359~~487,~~152~~ 841 as at ~~September~~December 3031, 2020.

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, control costs and reduce operating losses.

~~3. Recent Accounting Pronouncements~~7

The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the condensed interim consolidated financial statements unless otherwise disclosedBlox, ~~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~~Inc.

7Notes to Condensed Interim Consolidated Financial Statements

~~Blox~~Nine Months Ended December 31, ~~Inc.~~2020 and 2019

~~Notes~~(Unaudited to– ~~Condensed Interim~~Expressed ~~Consolidated~~in ~~Financial~~U.S. ~~Statements~~Dollars)

~~Six~~3. ~~Months~~Recent ~~Ended September~~Accounting ~~30, 2020 and 2019~~Pronouncements

In August 2020, the FASB issued ASU 2020-06, ASC Subtopic 470-20 “Debt—Debt with Conversion and Other Options”. The standard reduced the number of accounting models for convertible debt instruments and convertible preferred stock. Convertible instruments that continue to be subject to separation models are (~~Unaudited~~1) –those with embedded conversion features that are not clearly and closely related to the host contract, that meet the definition ~~Expressed~~of a derivative, and that do not qualify for a scope exception from derivative accounting; and, (2) convertible debt instruments issued with substantial premiums for which the premiums are recorded as paid-in Ucapital.S The amendments in this update are effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. ~~Dollars)~~Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company is currently assessing the impact of the adoption of this standard on its financial statements.

Long Term Investments

			Fair Value as at		~~Fair Value as at~~
					September 30,				March 31,
	Number		December 31, 2020				March 31, 2020
	Number				2020				2020
Common shares	3,333,333		$	65,450			$	46,993
Common shares		3,333,333			$	112,455			$	46,993
	1,000,000			19,635				14,098
		1,000,000				33,737				14,098
Total investment:			$	85,085			$	61,091
Total investment:					$	146,192			$	61,091

On March 28, 2018, the Company participated in a private placement offering by its strategic partner, Ashanti Sankofa Inc (TSX.V- ASI) (“Ashanti” or “ASI”), which shares the same management group and board of directors as the Company (Note 12). The Company purchased 3,333,333 units at CAD$0.03 per unit for a total cost of $77,510 (CAD$100,000). 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 $44,331 and $33,179, respectively.

On April 16, 2018, the Company participated in a private placement offering by Ashanti. 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 ~~September~~December 3031, 2020, the fair value of common shares was $~~146~~85,~~192~~085 which resulted in an unrealized gain of $8523,~~101~~994 (2019 – unrealized loss of $3130,~~837~~554) that was recorded in profit orand loss for the period ended December 31, 2020. The share purchase warrants of ASI expired ~~during the year ended March 31, 2020~~unexercised.

In January 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-01, “Financial Instruments – Overall: Recognition and Measurement of Financial Assets and Financial Liabilities.” ASU 2016-01 requires equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income, requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes, requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset, and eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost. These changes became effective for the fiscal year beginning April 1, 2018. The most significant change for the Company, once ASU 2016-01 was adopted, was the accounting treatment for long term investments that were classified as available-for-sale. The accounting treatment used for the Consolidated Financial Statements through fiscal 2018 was that the long term investments, classified as available-for-sale, were carried at fair value, with net unrealized holding gains and losses being excluded from earnings and reported as a separate component of Stockholders’ Deficiency until realized and the change in net unrealized holding gains and losses being reflected as comprehensive income (loss). Under ASU 2016-01, effective April 1, 2018, these long term investments continue to be measured at fair value, however, the changes in net unrealized holding gains and losses are now recognized through net income.8

8Blox, Inc.

~~Blox,~~Notes ~~Inc.~~to Condensed Interim Consolidated Financial Statements

~~Notes~~Nine toMonths ~~Condensed Interim~~Ended ~~Consolidated~~December ~~Financial~~31, ~~Statements~~2020 and 2019

~~Six~~(Unaudited ~~Months~~– ~~Ended September~~Expressed ~~30,~~in ~~2020~~U.S. ~~and 2019~~Dollars)

~~(Unaudited – Expressed in U~~5.S. ~~Dollars)~~Equipment

5. Equipment

	Machinery		Total
Cost
Balance at December 31 & March 31, 2020	$	232,620	$	232,620
Accumulated Depreciation
Balance at December 31 & March 31, 2020	$	161,060	$	161,060
Carrying amounts
As at December 31 & March 31, 2020	$	71,560	$	71,560

	Machinery		Total
Cost
Balance at September 30 & March 31, 2020	$	232,620	$	232,620
Accumulated Depreciation
Balance at September 30 & March 31, 2020	$	161,060	$	161,060
Carrying amounts
As at September 30 & March 31, 2020	$	71,560	$	71,560

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

~~Machinery in~~6. ~~the~~Mineral ~~amount~~Property ~~of $71,560 has not been placed into production and is not currently being depreciated.~~Interest

6The Company entered into a Deed of Assignment and Assumption Agreement dated July 24, 2014 (the “Assumption Agreement”) among Joseph Boampong Memorial Institute Ltd. ~~Mineral~~(“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”) ~~Interest~~from the Vendors. The Company exercised that right and acquired a 78% beneficial interest in the Property.

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

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

~~An exploration~~In ~~permit~~consideration for the ~~Property~~acquisition of ~~was~~the ~~granted~~interest byin the ~~Ministère~~Property, ~~des~~the ~~Mines~~Company etpaid dein lacash ~~Géologie~~$100,000 onto ~~August~~BGL 20and $40,000 ~~2013. As~~to ~~part~~EML ofand ~~its~~issued ~~due~~BGL ~~diligence~~and EML an aggregate of 6,514,350 shares of common stock of the Company ~~obtained~~(the a“First ~~legal~~Tranche ~~opinion~~Shares”), ~~which~~at ~~confirmed~~a ~~that~~deemed ~~the~~price ~~license~~of ~~was~~$0.1765 inper ~~good~~share, ~~standing~~for atan ~~the~~aggregate ~~time~~deemed value of ~~acquisition~~$1,150,000. ItThe isFirst ~~the~~Tranche ~~Company’s~~Shares ~~intention~~were issued to ~~obtain~~BGL anand ~~exploitation~~EML ~~permit~~in tothe ~~allow~~proportions of 71.43% and 28.57%, respectively. For accounting purposes, the Company recorded the ~~right~~cash topayment ~~mine~~of $140,000, and ~~dispose~~ $10,000 for an independent valuation of ~~minerals~~the ~~for~~Property. Additionally, 15$781,722 ~~years~~was capitalized to mineral property interests, ~~with~~being athe ~~possible~~fair ~~5-year~~value ~~extension~~of the first tranche of shares. The ~~Company~~fair ~~has~~value of ~~commenced~~the ~~work~~first tranche shares was based on the ~~feasibility~~closing ~~study~~price ~~required for~~of ~~obtaining~~the ~~this~~Company’s ~~permit~~shares on the OTCQB on July 24, 2014.

~~In consideration~~Within ~~for~~14 ~~the~~days ~~acquisition~~ of ~~the~~commercial ~~interest~~gold inproduction being ~~the~~publicly ~~Property,~~declared ~~the~~from ~~Company~~ore ~~paid~~mined infrom ~~cash~~the ~~$100~~Property,~~000~~ tothe ~~BGL~~Company ~~and~~will ~~$40,000~~issue ~~to EML and issued~~ BGL and EML ana ~~aggregate~~second tranche of ~~6,514,350~~ shares of common stock of the Company (the “~~First~~Second Tranche Shares”)~~, at a deemed price of $0~~.~~1765~~ ~~per~~The ~~share,~~number ~~for an aggregate deemed value~~ of ~~$1,150,000.~~Second ~~The First~~ Tranche Shares ~~were issued~~ to ~~BGL and~~be ~~EML~~issued inshall ~~the~~be ~~proportions~~calculated ofby ~~71.43% and 28.57%, respectively. For accounting purposes, the Company recorded the cash payment~~dividing of $~~140~~1,~~000~~150, ~~and $10,~~000 ~~for~~by ~~an independent valuation of~~ the ~~Property.~~volume ~~Additionally,~~weighted ~~$781,722~~average ~~was~~share ~~capitalized~~price ~~to mineral property interests, being the fair value~~ of the ~~first~~Company’s ~~tranche~~common ofstock ~~shares.~~over ~~The~~a ~~fair~~20-day ~~value~~period ofpreceding the ~~first~~issuance ~~tranche~~date. The ~~shares~~Second ~~was~~Tranche ~~based~~Shares onshall ~~the~~be ~~closing price~~issued ofto ~~the~~BGL ~~Company’s~~and ~~shares~~EML onin the ~~OTCQB~~proportions onof ~~July~~71.43% 24and 28.57%, ~~2014~~respectively.

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.9

9Blox, Inc.

~~Blox,~~Notes ~~Inc.~~to Condensed Interim Consolidated Financial Statements

~~Notes~~Nine toMonths ~~Condensed Interim~~Ended ~~Consolidated~~December ~~Financial~~31, ~~Statements~~2020 and 2019

~~Six~~(Unaudited ~~Months~~– ~~Ended September~~Expressed ~~30,~~in ~~2020~~U.S. ~~and 2019~~Dollars)

~~(Unaudited~~6. ~~– Expressed~~Mineral inProperty ~~U.S.~~Interest ~~Dollars~~(continued)

6.The ~~Mineral~~exploration ~~Property~~license, ~~Interest~~which was originally granted on August 20, 2013, was extended by the Company until January 30, 2020, pending the results of its application for a mining license for the property (~~continued~~first submitted December 7, 2018). On February 17, 2020, the Company received notice from Minister of Mines and Geology, Republic of Guinea, revoking the Company’s exploration license for the Property. As a result of the revocation of the Company’s exploration license, all rights held by the Company and its partners in the Property have been terminated. The Company has since confirmed that its mining license application cannot proceed without a valid exploration license, and that it is ineligible to re-apply for an exploration license due to the expiration of its previous license. At March 31, 2020, management decided to write off the mineral property interest.

The exploration license, which was originally granted on August 20, 2013, was extended by the Company until January 30, 2020, pending the results of its application for a mining license for the property (first submitted December 7, 2018). On February 17, 2020, the Company received notice from Minister of Mines and Geology, Republic of Guinea, revoking the Company’s exploration license for the Mansounia Gold Project. As a result of the revocation of the Company’s exploration license, all rights held by the Company and its partners in the Mansounia Gold Project have been terminated. The Company has since confirmed that its mining license application cannot proceed without a valid exploration license, and that it is ineligible to re-apply for an exploration license due to the expiration of its previous license. At March 31, 2020, management decided to write off the mineral property interest.

	Mansounia Property, West Africa
Acquisition of mineral property interest
Cash payment	$	150,000
Issuance of 6,514,350 common shares		781,722
Write-off mineral property interest		(931,722	)
Balance, March 31 & December 31, 2020	$	-

	Mansounia Property, West Africa
Acquisition of mineral property interest
Cash payment	$	150,000
Issuance of 6,514,350 common shares		781,722
Write-off mineral property interest		(931,722	)
Balance, March 31 & September 30, 2020	$	-

During the nine months ended December 31, 2020, the Company spent $Nil (2019 – $47,574) on the property.

~~During the~~7. ~~six~~Common ~~months ended September 30, 2020, the Company spent $Nil (2019 – $35,513) on the property.~~Stock

7.(a) ~~Common~~Private ~~Stock~~Placement

~~(a)~~Year ~~Private~~ended ~~Placement~~March 31, 2020

~~Year~~There were no shares issued from private placement for the year ended March 31, 2020.

~~There were~~Nine nomonths ~~shares issued from private placement for the year~~ ended ~~March~~December 31, 2020.

~~Six~~There were no shares issued from private placement for the nine months ended ~~September~~December 3031, 2020 .

~~There were~~(b) noConvertible debenture shares ~~issued from private placement for the six months ended September 30, 2020.~~issuance

~~(b)~~Year ~~Convertible~~ended ~~debenture~~March ~~shares~~31, ~~issuance~~2020

~~Year~~On August 16, 2019, the Company issued ~~ended~~300,000 ~~March~~commitment 31shares to two convertible debenture holders. The fair value of the common shares was $60,000 ~~2020~~(Note 10).

~~On August~~In 16March 2020, ~~2019~~$22,300 ~~the~~principal ~~Company~~of convertible ~~issued~~debenture ~~300~~was converted to 1,475,000 ~~commitment~~common shares toof ~~two~~the ~~convertible~~Company ~~debenture~~at ~~holders.~~price ~~The~~range ~~fair value~~ of ~~the~~$0.03 ~~common shares~~to ~~was~~ $~~60,000~~0.17 (Note 10).

~~In March~~Nine ~~2020,~~Months ~~$22,300~~ended ~~principal~~December ~~of convertible debenture was converted to 1~~31,~~475,000~~ ~~common shares of the Company at price range of $0.03 to $0.17 (Note 10).~~ 2020

~~Six Months~~From ~~ended~~April ~~September~~1 to June 30, 2020, $127,541 principal of convertible debenture was converted to 66,999,411 common shares of the Company at a price range of $0.01 to $0.02 (Note 10).

~~From April~~On 1May ~~to June 30~~28, 2020, ~~$127,273~~the ~~principal~~Company ofreceived a notice from one convertible debenture ~~was~~holder that $17,500 of default penalty will be converted tointo 6610,~~999~~000,~~411~~000 shares. On June 1, 2020, the 10,000,000 common shares ofwere ~~the~~issued ~~Company at~~to asettle ~~price~~the ~~range~~default penalty of $017,500.01 The penalty incurred is due to ~~$0.02~~the ~~(Note~~loss ~~10)~~of Mansounia property.

~~On May 28, 2020, the Company received a notice from one convertible debenture holder that $17,500 of default penalty will be converted into~~ 10~~,000,000 shares. On June 1, 2020, the 10,000,000 common shares were issued to settle the default penalty of $17,500. The penalty incurred is due to the loss of Mansounia property.~~

~~On June 8~~Blox, ~~2020, the Company received a notice from one convertible debenture holder that $17,500 of default penalty will be converted into 10,000,000 shares~~Inc. ~~On June 8, 2020, the 10,000,000 common shares were issued to settle the default penalty of $17,500.~~

10Notes to Condensed Interim Consolidated Financial Statements

~~Blox~~Nine Months Ended December 31, ~~Inc.~~2020 and 2019

~~Notes~~(Unaudited to– ~~Condensed Interim~~Expressed ~~Consolidated~~in ~~Financial~~U.S. ~~Statements~~Dollars)

~~Six~~7. ~~Months~~Common ~~Ended September~~Stock ~~30, 2020 and 2019~~(continued)

(~~Unaudited~~b) ~~– Expressed~~Convertible indebenture ~~U.S.~~shares ~~Dollars~~issuance (continued)

7On June 8, 2020, the Company received a notice from one convertible debenture holder that $17,500 of default penalty will be converted into 10,000,000 shares. ~~Common~~On ~~Stock~~June ~~(continued)~~8, 2020, the 10,000,000 common shares were issued to settle the default penalty of $17,500.

(c)

Warrants

Year ended March 31, 2020

On August 7, 2019, 50,000 warrants were exercised for common shares at $0.05 per share.

On August 16, 2019, the Company issued 1,111,110 warrants to two convertible debenture holders with a fair value of $220,541 (Note 10). On the issuance date of the warrants, the share price was $0.20. The warrants expire five years from the date of issuance and are exercisable at $0.135 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 1.57%, volatility of 231.6%, annual rate of dividend of 0%, and expected life of 5 years.

On February 27, 2020, the Company extended the term of 88,000,000 share purchase warrants from February 27, 2020 to February 27, 2021, no other terms were changed.

~~Six~~ Nine months ended ~~September~~December 3031, 2020

On May 7, 2020, the Company entered into an Amendment #1 with one convertible debenture holder that the 555,555 warrant shares issued on August 16, 2019 are subject to anti-dilution protection. The Company agreed that the number of warrant shares should be equal to 10,000,000. On May 13, 2020, the convertible debt holder exercised 10,000,000 warrants to common shares via cashless exercise.

On May 28 and June 8, 2020, the Company received an Exercise Notice from another convertible debenture holder that 10,844,805 and 12,049,784 warrant shares were exercised to common shares via cashless exercise.

The 1,111,110 warrants were cancelled on June 8, 2020 due to the warrant shares that were issued.

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, 2020		118,604,860			0.05		1.41
Warrants issued		32,894,589			0.001		-
Warrants exercised		(32,894,589	)		0.001		-
Warrants cancelled		(1,111,110	)
Balance, September 30, 2020		117,493,750			0.05		0.96
Balance, December 31, 2020		117,493,750			0.05		1.74

As at ~~September~~December 3031, 2020, the following warrants were outstanding and exercisable:

Number of Warrants		Exercise Price		Expiry Date
	87,543,750	$	0.05	February 27, ~~2021~~2022
	29,950,000	$	0.05	April 24, 2023
	117,493,750

11(Note 14)

~~Blox, Inc.~~11

~~Notes~~Blox, ~~to Condensed Interim Consolidated Financial Statements~~Inc.

~~Six~~Notes ~~Months~~to ~~Ended September~~Condensed ~~30,~~Interim ~~2020~~Consolidated ~~and~~Financial ~~2019~~Statements

~~(Unaudited~~Nine ~~– Expressed~~Months inEnded ~~U.S.~~December ~~Dollars)~~31, 2020 and 2019

7.(Unaudited ~~Common~~– ~~Stock~~Expressed ~~(continued~~in U.S. Dollars)

~~(d)~~7. Common Stock ~~Options~~(continued)

~~Year ended~~(d) ~~March~~Stock ~~31, 2020~~Options

~~650,000 options~~Year ~~expired~~ended onMarch ~~August 7~~31, ~~2019.~~2020

~~Six months~~650,000 ~~ended~~options ~~September~~expired ~~30,~~on ~~2020~~August 7, 2019.

~~1,500,000 options~~Nine ~~were cancelled on May 27, 2020 due to the optionee no longer being an officer of the Company. There were no stock options granted for the six~~ months ended ~~September~~December 3031, 2020.

~~The~~1,500,000 options were cancelled on ~~following~~May ~~table~~27, ~~summarizes~~2020 ~~historical~~due ~~information~~to ~~about~~the optionee no longer being an officer of the Company’s. ~~incentive~~There were no stock options: granted for the nine months ended December 31, 2020.

	Number of options			Weighted Average Exercise Price ($)		Weighted Average Life Remaining (Years)
Balance, March 31, 2020		1,500,000			0.27		2.90
Cancelled		(1,500,000	)		0.27
Balance, September 30, 2020		-			-		-

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

At September 30, 2020, there were no stock options outstanding.

	Number of options			Weighted Average Exercise Price ($)		Weighted Average Life Remaining (Years)

Balance, March 31, 2020		1,500,000			0.27		2.90
Cancelled		(1,500,000	)		0.27
Balance, December 31, 2020		-			-		-

12At December 31, 2020, there were no stock options outstanding.

~~Blox, Inc~~8. Fair Value of Financial Instruments

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

~~Six~~Level ~~Months~~1 ~~Ended~~– fair value measurements ~~September~~are ~~30,~~those ~~2020~~derived ~~and~~from ~~2019~~quoted prices (unadjusted) in active markets for identical assets or liabilities;

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

8.Level ~~Fair~~3 ~~Value~~– offair ~~Financial~~value ~~Instruments~~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).

~~The~~Level ~~following~~2 ~~provides~~and an3 ~~analysis of~~ financial instruments ~~that~~ are measured ~~subsequent~~using tomanagement’s ~~initial~~best ~~recognition~~estimate atof fair value, ~~grouped~~where the inputs into ~~Levels~~the 1determination of fair value require significant management judgment to 3estimation. ~~and~~Valuations based on ~~the~~unobservable ~~degree~~inputs toare ~~which~~highly subjective and require significant judgments. Changes in such judgments could have a material impact on fair value isestimates. ~~observable:~~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.

~~Level 1 – fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities;~~12

~~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~~Blox, ~~either~~ ~~directly (i~~Inc.~~e. as prices) or indirectly (i.e. derived from prices); and~~

~~Level~~Notes 3to –Condensed ~~fair~~Interim ~~value~~Consolidated ~~measurements are~~Financial ~~those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs).~~Statements

~~Level~~Nine 2Months ~~and~~Ended 3December ~~financial instruments are measured using management’s best estimate of fair value~~31, ~~where~~2020 ~~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.2019

~~The~~(Unaudited ~~following~~– ~~table~~Expressed ~~sets~~in ~~forth the~~U.S. ~~Company’s financial assets measured at fair value by level within the fair value hierarchy:~~Dollars)

	Level 1		Level 2		Level 3		Total September 30, 2020
Cash and cash equivalent	$	18,036	$	-	$	-	$	18,036
Long-term investment – Shares		146,192		-		-		146,192
Total	$	164,228	$	-	$	-	$	164,228

Fair Value of Financial Instruments (continued)

	Level 1		Level 2		Level 3		Total March 31, 2020
Cash and cash equivalent	$	27,551	$	-	$	-	$	27,551
Long-term investment – Shares		61,091		-		-		61,091
Total	$	88,642	$	-	$	-	$	88,642

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

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

	Level 1		Level 2		Level 3		Total December 31, 2020
Cash and cash equivalents	$	13,408	$	-	$	-	$	13,408
Long-term investment – Shares		85,085		-		-		85,085
Total	$	98,493	$	-	$	-	$	98,493

	Level 1		Level 2		Level 3		Total ~~September~~March 3031, 2020
Accounts payable	$	295,771	$	-	$	-	$	295,771
Cash and cash equivalents	$	27,551	$	-	$	-	$	27,551
Due to shareholder	$	391,214	$	-	$	-	$	391,214
Long-term investment – Shares		61,091		-		-		61,091
Loan payable	$	428	$	-	$	-	$	428
Total	$	88,642	$	-	$	-	$	88,642
Convertible debt	$	61,130	$	-	$	-	$	61,130
Total	$	748,543	$	-	$	-	$	748,543

	Level 1		Level 2		Level 3		Total March 31, 2020
Accounts payable	$	294,379	$	-	$	-	$	294,379
Due to shareholder	$	391,214	$	-	$	-	$	391,214
Loan payable	$	-	$	-	$	-	$	-
Convertible debt	$	120,480	$	-	$	-	$	120,480
Total	$	806,073	$	-	$	-	$	806,073

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

	Level 1		Level 2		Level 3		Total December 31, 2020
Accounts payable	$	322,917	$	-	$	-	$	322,917
Due to shareholder		391,214		-		-		391,214
Loan payable		428		-		-		428
Convertible debt		84,929		-		-		84,929
Loan interest		4,934		-		-		4,934
Total	$	804,422	$	-	$	-	$	804,422

Blox, Inc.

	Level 1		Level 2		Level 3		Total March 31, 2020
Accounts payable	$	294,379	$	-	$	-	$	294,379
Due to shareholder		391,214		-		-		391,214
Convertible debt		120,480		-		-		120,480
Total	$	806,073	$	-	$	-	$	806,073

~~Notes~~9. Due to ~~Condensed Interim Consolidated Financial Statements~~Shareholder

~~Six~~During ~~Months~~the ~~Ended~~period ended December 31, ~~September~~2020, 30the Company received advances from Waratah Capital Ltd. (“Waratah”), a controlling shareholder of the Company, in the amount of $Nil (year ended March 31, 2020 - $61,868). As at December 31, 2020, the Company was indebted to Waratah for $391,214 (March 31, 2020 - $391,214). The advances from shareholder are unsecured, non-interest bearing and ~~2019~~have no fixed repayment terms.

~~(Unaudited – Expressed in U.S. Dollars)~~13

9.Blox, ~~Due to Shareholder~~Inc.

~~During~~Notes the period ended September 30, 2020, the Company received advances from Waratah Capital Ltd. (“Waratah”), a controlling shareholder of the Company, in the amount of $Nil (year ended March 31, 2020 - $61,868). As at September 30, 2020, the Company was indebted to ~~Waratah~~Condensed ~~for $391,214~~Interim ~~(March~~Consolidated ~~31,~~Financial ~~2020 - $391,214). The advances from shareholder are unsecured, non-interest bearing and have no fixed repayment terms.~~Statements

~~10.~~Nine ~~Convertible~~Months ~~Debenture~~Ended December 31, 2020 and 2019

~~Year~~(Unaudited ~~ended~~– ~~March~~Expressed ~~31,~~in ~~2020~~U.S. Dollars)

On August 16, 2019, the Company entered into security purchase agreements with two private investors, issuing two convertible promissory notes in an aggregate principal amount of $150,000, with a $15,000 original issue discount and $10~~,000 in legal fees, paid in cash to the investors and the legal counsel~~. ~~Each~~Convertible note accrues interest at an annual rate of 5% and is to be repaid nine months after the dates of actual funding received. The investors have rights to convert a portion, or all, of the principal amount plus interest of each note at a lowest conversion price of i) $0.09 (fixed conversion price); or ii) 50% multiplied by the lowest closing bid price of the Common Stock during the 25 consecutive trading day period immediately preceding the date of the respective conversion (alternative conversion price) into common shares of the Company after 180 days and prior to May 16, 2020.Debentures

~~In addition, the Company issued~~Year ~~300,000~~ended ~~commitment~~March ~~shares to the two investors with a fair value of $60~~31,~~000~~ and 1,111,110 warrants with a fair value of $220,541. The two warrant holders are entitled to purchase up to 1,111,110 common shares of the Company at an exercise price of $0.135 with a 5-year expiry date (Note 7 (b) & (c))2020

~~Based~~On August on16, 2019, the Company entered into security purchase agreements with two private investors, issuing two convertible promissory notes in an aggregate principal amount of $150,000, with a $15,000 original issue discount ~~factor~~and ~~of 66%~~$10,000 ~~the~~in ~~debt~~legal ~~portion~~fees, ofpaid in cash to the ~~promissory~~investors and the legal counsel. Each note ~~was~~accrues ~~valued~~interest at ~~$102,567~~an annual rate of 5% and is to be repaid nine months after the ~~conversion~~dates of ~~feature~~actual funding received. The investors have rights to convert a portion, or all, of the ~~notes~~principal ~~was~~amount ~~valued~~plus interest of each note at a lowest conversion price of i) $~~202,208~~0.09 ~~The~~(fixed conversion ~~feature~~price); ~~was~~or ~~valued~~ii) ~~using~~50% multiplied by the ~~Black~~lowest ~~Scholes~~closing ~~model~~bid ~~with~~price of the ~~following~~Common Stock ~~assumptions:~~during ~~risk~~the ~~free~~25 ~~interest rate~~consecutive oftrading ~~1.61%,~~day ~~volatility~~period immediately preceding the date of ~~100.01%,~~the ~~dividend~~respective ~~rate~~conversion (alternative conversion price) into common shares of 0%the Company after 180 days and ~~expected~~prior ~~life~~to ofMay 916, ~~months~~2020.

~~The net proceeds received by~~In addition, the Company ~~were~~issued ~~allocated~~300,000 commitment shares to the ~~convertible~~two ~~debt~~investors ~~and~~with ~~associated~~a ~~financial~~fair ~~instruments~~value ~~based~~of on$60,000 ~~their~~and ~~relative~~1,111,110 warrants with a fair ~~values~~value asof $220,541. The two warrant holders are entitled to purchase up to 1,111,110 common shares of the Company at an exercise ~~below:~~price of $0.135 with a 5-year expiry date (Note 7 (b) & (c))

	Proceeds Allocation
Debt	$	23,656
Conversion feature		46,638
Warrants		50,867
Shares		13,839
Total proceeds	$	135,000

Based on a discount factor of 66%, the debt portion of the promissory note was valued at $102,567 and the conversion feature portion of the notes was valued at $202,208. The conversion feature was valued using the Black Scholes model with the following assumptions: risk free interest rate of 1.61%, volatility of 100.01%, dividend rate of 0% and expected life of 9 months.

14The net proceeds received by the Company were allocated to the convertible debt and associated financial instruments based on their relative fair values as below:

Blox, Inc.

	Proceeds Allocation
Debt	$	23,656
Conversion feature		46,638
Warrants		50,867
Shares		13,839
Total proceeds	$	135,000

~~Notes~~For the year ended March 31, 2020, $22,300 of debt principal was converted to ~~Condensed~~1,475,000 common shares of the Company at price range of $0.03 ~~Interim~~to ~~Consolidated~~$0.17 ~~Financial~~(Note ~~Statements~~7 (b)).

~~Six~~Nine months ~~Months~~ended ~~Ended September~~December 3031, 2020 ~~and 2019~~

~~(Unaudited~~a) ~~– Expressed~~On June 8, 2020, the Company entered into security purchase agreements with a private investor, issuing one convertible promissory note in Uan aggregate principal amount of $74,800, with a $6,800 original issue discount, $500 in due diligence fees and $2,500 in legal fees, paid in cash to the investors and the legal counsel.S Each note accrues interest at an annual rate of 8% and is to be repaid on June 8, 2021. ~~Dollars~~The investors have rights to convert a portion, or all, of the principal amount plus interest at variable conversion prices to Common Stock of the Company after 180 days and prior to June 8, 2021 (Note 14(c)).

~~10.~~On October ~~Convertible~~9, ~~Debenture~~2020, ~~(continued)~~the Company terminated the convertible promissory issued on June 8, 2020 by paying the convertible promissory holder an aggregate amount of $92,042, including principal amount of $74,800, accrued interest $1,902 and prepayment penalty of $15,340.

~~For the year ended March 31, 2020, $22,300 of debt principal was converted to 1,475,000 common shares of the Company at price range of $0.03 to $0.17 (Note 7 (b)).~~14

~~Six months ended September 30~~Blox, ~~2020~~Inc.

OnNotes June 8, 2020, the Company entered into security purchase agreements with a private investor, issuing one convertible promissory note in an aggregate principal amount of $74,800, with a $6,800 original issue discount, $500 in due diligence fees and $2,500 in legal fees, paid in cash to ~~the~~ ~~investors~~Condensed ~~and~~Interim ~~the~~Consolidated ~~legal~~Financial counsel. Each note accrues interest at an annual rate of 8% and is to be repaid on June 8, 2021. The investors have rights to convert a portion, or all, of the principal amount plus interest at variable conversion price to Common Stock of the Company after 180 days and prior to June 8, 2021 (Note 14(c)).Statements

~~For~~Nine ~~the~~Months ~~period~~Ended ~~ended~~December ~~September 30~~31, 2020, ~~$127,541 debt principal was converted to 66,999,411 common shares of the Company at price range of $0.01 to $0.02 (Note 7 (b)). Accretion for the note was calculated as $18,391 (2019 - $16,788)~~ and ~~interest expense of $2,390 (~~2019 ~~- $626) was recorded. As of September 30, 2020, $149,572 debt principal were converted to commons shares.~~

	September 30, 2020			March 31, 2020
Convertible debenture – beginning of the period	$	120,480		$	-
Debt proceeds received		74,800			23,656
Debt converted to common shares		(127,541	)		(20,753	)
Equity portion of convertible debenture		(25,000	)		-
Finance cost - accretion		18,391			117,577
Carrying value – end of the period	$	61,130		$	120,480

(Unaudited – Expressed in U.S. Dollars)

~~The~~10. ~~total~~Convertible ~~principal~~Debenture ~~value of the convertible debenture as at September 30, 2020 is $74,800~~ (~~March 31, 2020 - $150,000~~continued) ~~As at September 30, 2020 $5,129 (March 31, 2020 - $4,706) of interest is accrued in relation to the convertible debenture.~~

11b) On October 8, 2020, the Company received $92,040 in cash from a significant shareholder by issuing a one-year convertible promissory note with interest at 8% per annum, mature on October 9, 2021. ~~Commitments~~The note will be convertible before and after maturity into common shares of the Company at a rate that is a 25% discount to the lowest trading price of the Common shares during the 20-day period ending on the last complete trading day prior to the conversion date.

OnFor ~~June 22, 2013,~~ the ~~Company entered~~period ~~into~~ended aDecember ~~share~~31, ~~purchase~~2020, $127,541 ~~agreement~~debt ~~with~~principal ~~Waratah~~was ~~Capital~~converted ~~Ltd. (“Waratah”) where the Company agreed~~ to ~~purchase all of Waratah’s right~~66, ~~title~~999,411 ~~and~~common ~~interest~~shares inof the ~~Quivira~~Company ~~Gold~~at ~~(“Quivira”)~~price ~~shares,~~range of ~~which~~$0.01 ~~Waratah~~to ~~holds~~$0.02 ~~100% of~~(Note ~~the~~7 ~~outstanding shares~~(b)). ~~As consideration~~ Accretion for the ~~Quivira~~note ~~shares,~~was ~~the~~calculated ~~Company~~as ~~will~~$34,154 ~~issue~~(2019 to- ~~Waratah 60~~$72,~~000,000~~950) ~~shares~~and ofinterest ~~common stock~~expense ~~and~~of 60$4,~~000,000~~163 ~~warrants.~~(2019 ~~Each~~- ~~warrant~~$2,516) ~~entitles~~was ~~the holder to purchase one additional common share at $0~~recorded.05 ~~for~~As ~~a period~~ of ~~five~~ ~~years~~December ~~from the closing date. Quivira~~31, 2020, ~~a subsidiary of Waratah Investments~~$149,572 ~~owns~~debt ~~and~~principal ~~operates~~were ~~gold~~converted ~~and~~to ~~diamond~~commons ~~mining properties in Ghana~~shares.

~~The~~As ~~closing~~at ofDecember 31, 2020, the ~~agreement~~total isprincipal ~~subject~~value toof the ~~completion~~convertible ofdebenture ~~due~~is ~~diligence~~$92,040 ~~and~~(March ~~the~~31, ~~completion~~2020 of- ~~a private placement for~~ $1150,~~500,~~000.), ~~The~~and ~~private~~$4,934 ~~placement closed during the year ended~~ (March 31, ~~2019.~~2020 As- $4,706) of ~~the~~interest is ~~issuance~~accrued ~~date~~and ofpayable ~~these~~in ~~financial~~relation ~~statements,~~to the ~~due~~convertible ~~diligence has not yet been completed~~debenture.

	December 31, 2020			March 31, 2020
Balance – beginning of the period	$	120,480		$	-
Debt proceeds received		166,840			150,000
Debt repayment		(74,800	)		-
Debt converted to common shares		(127,541	)		(20,753	)
Equity portion of convertible debenture		(34,204	)		(46,638	)
Finance cost - accretion		34,154			37,871
Balance – end of the period	$	84,929		$	120,480

~~Blox, Inc~~11. Commitments

~~Notes~~On June 22, 2013, the Company entered into a share purchase agreement with Waratah Capital Ltd. (“Waratah”) where the Company agreed to ~~Condensed~~purchase all of Waratah’s ~~Interim~~right, ~~Consolidated~~title, ~~Financial~~and ~~Statements~~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.

~~Six~~The ~~Months~~closing ~~Ended~~of the agreement is subject ~~September~~to ~~30,~~the ~~2020~~completion of due diligence and the completion of a private placement for $1,500,000. The private placement closed during the year ended March 31, 2019. As of the issuance date of these financial statements, the due diligence has not yet been completed.

~~(Unaudited~~12. ~~– Expressed~~Related inParty ~~U.S. Dollars)~~Transactions

~~12.~~The ~~Related~~Company’s ~~Party~~related parties include its key management personnel, controlling shareholders, directors, 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’s related parties include its 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.15

~~The Company incurred the following expenses with related parties during the six months ended September 30~~Blox, ~~2020 and 2019:~~Inc.

	Six Months Ended September 30,
	2020		2019
Compensation – CEO	$	25,740	$	27,000
Compensation – Former Officer		-		14,841
	$	25,740	$	41,841

Notes to Condensed Interim Consolidated Financial Statements

AsNine atMonths ~~September~~Ended 30December 31, 2020, ~~the Company~~and ~~was indebted to its related parties for the amounts as below:~~2019

	September 30, 2020		March 31, 2020
Accounts payable and accrued liabilities	$	141,117	$	122,651
Due to shareholder (Note 9)		391,214		391,214
Investment in related party (Note 4)		146,192		61,091

(Unaudited – Expressed in U.S. Dollars)

~~These~~12. ~~amounts~~Related ~~owing~~Party ~~are~~Transactions ~~unsecured, non-interest bearing and have no fixed repayment terms.~~(continued)

~~13.~~The ~~Geographical~~Company ~~Area~~incurred ~~Information~~the following expenses with related parties during the nine months ended December 31, 2020 and 2019:

	Canada		Africa		Total
	Nine Months Ended December 31,
September 30, 2020:
	2020		2019
Current assets	$	26,841	$	2,362	$	29,203
Compensation – CEO (included within consulting and professional fees)	$	39,513	$	40,500
Long term investments		162,435		-		162,435
Compensation – Former Officer (included within consulting and professional fees)		-		21,591
Equipment		-		71,560		71,560
	$	39,513	$	62,091
Total assets	$	189,276	$	73,922	$	263,198
Total liabilities	$	654,875	$	98,797	$	753,672
March 31, 2020:
Current assets	$	30,575	$	2,143	$	32,718
Long term investments		61,091		-		61,091
Equipment		-		71,560		71,560
Total assets	$	91,666	$	73,703	$	165,369
Total liabilities	$	718,237	$	92,545	$	810,779

~~14.~~As ~~Subsequent~~at ~~Events~~December 31, 2020, the Company was indebted to its related parties for the amounts as below:

(a) On October 8, 2020, the Company’s common shares was removed from OTCQB and demoted to the OTC Pink reporting tier due to OTCQB bid price deficiency.

	December 31, 2020		March 31, 2020

Accounts payable and accrued liabilities	$	158,292	$	122,651
Due to shareholder (Note 9 & 10)		391,214		391,214
Convertible debenture (Note 10)		84,929		-

~~(b)~~These Onamounts ~~October~~owing 8,are ~~2020~~unsecured, ~~the Company received $92,040 in cash from a significant shareholder by issuing a one~~ non-~~year~~interest ~~convertible~~bearing ~~promissory~~and ~~note~~have ~~with~~no ~~interest~~fixed atrepayment ~~8% per annum~~terms.

~~(c)~~13. OnGeographical ~~October~~Area 9, 2020, the Company terminated the convertible promissory issued on June 8, 2020 by paying the convertible promissory holder an aggregate amount of $92,042, including principal amount of $74,800, accrued interest $1,902 and prepayment penalty of $15,340.Information

	Canada		Africa		Total

December 31, 2020:

Current assets	$	19,213	$	2,362	$	21,575
Long term investments		85,085		-		85,085
Equipment		-		71,560		71,560
Total assets	$	104,298	$	73,922	$	178,220

Total liabilities	$	705,625	$	98,797	$	804,422

March 31, 2020:

Current assets	$	30,575	$	2,143	$	32,718
Long term investments		61,091		-		61,091
Equipment		-		71,560		71,560
Total assets	$	91,666	$	73,703	$	165,369

Total liabilities	$	718,234	$	92,545	$	810,779

~~Item 2~~14. ~~Management’s~~Subsequent ~~Discussion and Analysis of Financial Condition and Results of Operations~~Events

~~The~~On ~~following~~February ~~discussion~~23, ~~should~~2021, bethe ~~read in~~Company ~~conjunction~~extended ~~with our financial statements and~~ the expiry ~~related~~term ~~notes~~of ~~that~~87,543,750 ~~appear~~outstanding ~~elsewhere~~warrants infrom ~~this~~February ~~quarterly~~27, ~~report.~~2021 ~~The~~to ~~following discussion~~February ~~contains forward-looking statements that reflect our plans~~27, ~~estimates and beliefs~~2022. ~~Our~~The ~~actual~~exercise ~~results~~price ~~could~~of ~~differ materially from those discussed in~~ the ~~forward-looking~~warrants ~~statements. Factors that could cause or contribute to such differences include those~~remains ~~discussed~~at ~~below and elsewhere in this quarterly report on Form 10-Q~~$0.05.

~~Overview~~On February 23, 2021, the Company was able to fund its investment in Ashanti Sankofa Inc. through a loan advanced by Waratah in the amount of CAD$50,000. The Company acquired 2,500,000 units of ASI. Each unit consists of one common share of ASI at a price of $0.02 and one share purchase warrant exercisable at $0.05 for additional common shares for a term of 2 years.

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.”.16

OnItem ~~July 9, 2020, the Company received notice from OTC Markets Group that the closing bid price of our common shares has closed below $0~~2.01 ~~for~~Management’s ~~more~~Discussion ~~than 30 consecutive calendar days~~ and noAnalysis longer meets the Standards for Continued Eligibility for the OTCQB quotation tier as per the OTCQB Standards Section 2.3(2), which states that the Company must “maintain proprietary priced quotations published by a Market Maker in OTC Link with a minimum closing bid price of ~~$0.01~~Financial ~~per~~Condition ~~share~~and onResults ~~at least one~~ of ~~the prior thirty consecutive calendar days.”~~Operations

AsThe ~~per~~following ~~Section~~discussion ~~4.1~~should ofbe ~~the~~read ~~OTCQB~~in ~~Standards,~~conjunction ~~the~~with ~~company~~our ~~will~~financial bestatements ~~granted~~and ~~a cure period of 90 calendar days during which~~ the ~~minimum~~related ~~closing~~notes ~~bid~~that ~~price~~appear ~~for~~elsewhere ~~the~~in ~~Company’s common~~this ~~stock~~quarterly ~~must be $0~~report.01 orThe ~~greater~~following ~~for~~discussion ~~ten consecutive trading days in order to continue trading on the OTCQB marketplace. If~~contains ~~the~~forward-looking ~~requirement~~statements isthat ~~not~~reflect ~~met~~our ~~by October 7~~plans, ~~2020,~~estimates ~~the Company will be removed from the OTCQB marketplace~~ and ~~demoted to the OTC Pink reporting tier~~beliefs. InOur ~~addition,~~actual ifresults ~~the~~could ~~Company’s~~differ ~~closing~~materially ~~bid~~from ~~price~~those ~~falls below $0.001 at any time for five consecutive trading~~discussed ~~days,~~in the ~~Company~~forward-looking ~~will~~statements. beFactors ~~immediately~~that ~~removed~~could ~~from~~cause ~~the~~or ~~OTCQB~~contribute ~~and demoted~~ to ~~the~~such ~~OTC~~differences ~~Pink~~include ~~reporting~~those ~~tier.~~discussed Onbelow ~~October~~and ~~8, 2020, the~~elsewhere ~~Company’s~~in ~~common~~this ~~shares~~quarterly ~~started~~report ~~trading~~on atForm ~~OTC Pink sheet~~10-Q.

~~Recent Developments~~Overview

~~Recently~~We ~~Discontinued~~were ~~Projects~~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.”.

~~Mansounia~~On ~~Property~~July 9, ~~Guinea~~2020, ~~West~~the Company received notice from ~~Africa~~OTC Markets Group that the closing bid price of our common shares has closed below $0.01 for more than 30 consecutive calendar days and no longer meets the Standards for Continued Eligibility for the OTCQB quotation tier as per the OTCQB Standards Section 2.3(2), which states that the Company must “maintain proprietary priced quotations published by a Market Maker in OTC Link with a minimum closing bid price of $0.01 per share on at least one of the prior thirty consecutive calendar days.”

~~Our~~As ~~former~~per ~~Mansounia~~Section ~~exploration permit was acquired in 2013 and was secured based on our technical and financial capabilities to obtain a mining permit~~4.1 ~~The 2013 exploration permit was near expiration when acquired and was subsequently renewed for the maximum~~ of ~~four times permitted by~~ the ~~Guinea~~OTCQB ~~Mining Code. In December 2019~~Standards, the Company ~~submitted~~will ~~its~~be ~~final~~granted ~~mining~~a ~~permit~~cure ~~proposal~~period ~~to the Ministry~~ of ~~Mines.~~90 ~~The~~calendar ~~ministry~~days ~~requested, in~~during ~~its~~which ~~discretion,~~the ~~that~~minimum weclosing ~~provide~~bid ~~evidence~~price ~~of funding to account~~ for ~~15% of~~ the ~~capital~~Company’s ~~required~~common ~~for~~stock must ~~project~~be ~~financing~~$0.01 ~~The~~or ~~Company was~~greater ~~unable~~for toten ~~secure~~consecutive ~~the~~trading ~~required~~days ~~financing~~in ~~during~~order ~~prior~~ to ~~expiration~~continue oftrading on the ~~final~~OTCQB ~~permit~~marketplace. ~~extension,~~If ~~and~~ the ~~permit~~requirement ~~was withdrawn~~is bynot ~~decree~~met ~~from~~by ~~the~~October ~~Ministry~~7, of2020, ~~Mines. Although it is our understanding~~ the ~~Ministry~~Company ofwill ~~Mines~~be ~~exercises~~removed ~~considerable~~from ~~discretion regarding~~ the ~~extension~~OTCQB ~~and~~marketplace ~~revocation of permits~~ and ~~the~~demoted ~~grant~~to ~~of mining licenses,~~ the ~~decree~~OTC toPink ~~revoke~~reporting ~~our~~tier. ~~exploration~~In ~~permit~~addition, ~~suggests~~if ~~that~~the ~~our~~Company’s ~~application~~closing isbid noprice ~~longer~~falls ~~under~~below ~~consideration~~$0.001 ~~With~~at ~~respect~~any totime ~~the~~for ~~fate~~five ofconsecutive ~~the~~trading ~~project~~days, wethe ~~anticipate~~Company ~~that~~will webe immediately ~~will~~removed ~~attempt~~from tothe ~~renegotiate~~OTCQB aand ~~position~~demoted ~~for~~to the ~~Mansounia~~OTC ~~project~~Pink ~~once~~reporting ~~Guinea~~tier. ~~reopens~~On ~~its~~October ~~border~~8, to2020, ~~international~~the ~~travel~~Company’s ~~(the~~common ~~country has~~shares ~~been~~started ~~inaccessible~~trading at ~~due~~OTC toPink ~~COVID-19)~~sheet.

~~Current~~Recent ~~Business:~~ Developments

~~Pramkese,~~Recently ~~Osenase~~Discontinued ~~and Asamankese, Ghana, West Africa~~Projects

OnMansounia ~~June 22~~Property, ~~2013~~Guinea, weWest entered into a share purchase agreement with Waratah Investments Limited (“Waratah”) whereby we 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, 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.Africa

17Our former Mansounia exploration permit was acquired in 2013 and was secured based on our technical and financial capabilities to obtain a mining permit. The 2013 exploration permit was near expiration when acquired and was subsequently renewed for the maximum of four times permitted by the Guinea Mining Code. In December 2019, the Company submitted its final mining permit proposal to the Ministry of Mines. The ministry requested, in its discretion, that we provide evidence of funding to account for 15% of the capital required for project financing. The Company was unable to secure the required financing prior to expiration of the final permit extension, and the permit was withdrawn by decree from the Ministry of Mines. Although it is our understanding the Ministry of Mines exercises considerable discretion regarding the extension and revocation of permits and the grant of mining licenses, the decree to revoke our exploration permit suggests that our application is no longer under consideration. With respect to the fate of the property, we anticipate that we will attempt to renegotiate a position for the Mansounia project once Guinea reopens its border to international travel (the country has been inaccessible due to COVID-19).

The closing of the agreement was subject to the completion of a private placement financing of up to US$1,500,000, which private placement was completed in April 2018. We issued 30,000,000 units (the “Units”) at a price of US$0.05 per unit for aggregate gross proceeds of US$1,500,000. US$1,100,000 of the proceeds were advanced as non-interest bearing loans since 2014 and were utilized to cover general and administrative expenses, as well as to carry out exploration work on our mineral properties. The remaining balance of US$400,000 was received by April 2018. Each Unit consists of one common share and one share purchase warrant entitling the holder thereof to purchase one additional common share at a price of $0.05 per share for a term of five years from the date of issuance.17

~~Closing~~Current ~~the~~Business: 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~~Pramkese, ~~when~~Osenase 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. Field work on the three concessions has since ceased and associated exploration permits have expired. Neither the Company nor Quivira holds any right title or claim to the concessionsAsamankese, ~~but the Company endeavors to renew permits subject to securing sufficient financing. There~~Ghana, isWest ~~no guarantee that sufficient financing will be raise in a timely manner, if at all.~~Africa

WeOn ~~intend~~June to22, ~~renew~~2013, ~~permits~~we ~~for~~entered ~~three~~into ~~concessions~~a share purchase inagreement ~~Ghana~~with ~~for~~Waratah ~~their~~Investments ~~gold~~Limited ~~and~~(“Waratah”) ~~diamond~~whereby ~~potential,~~we ~~and~~agreed to ~~explore~~purchase ~~the~~all ~~market~~of ~~for~~Waratah’s ~~other~~right, ~~viable assets. All three licences have expired~~title, and ~~require~~interest anin ~~estimated~~the ~~$100,000~~Quivira toGold ~~renew.~~(“Quivira”) Weshares, ~~are~~of ~~currently~~which inWaratah ~~discussions~~holds ~~with~~100% ~~with~~of ~~prospective equity investors to finance~~ the ~~renewal~~ ~~costs,~~outstanding ~~however no agreement has been secured~~shares. ~~Nevertheless,~~As inconsideration for ~~order~~the toQuivira ~~secure necessary financing~~shares, we ~~will~~agreed ~~be required~~ to ~~increase~~issue ~~our~~to ~~authorized~~Waratah ~~capital. The Asamankese~~60, ~~Osenase and Pramkese concessions are located near Asamankese~~000,000 ~~Akim~~shares ~~Oda and Kade towns respectively. The concession is dominated by broad pene plain, dotted with moderate to high hills and remnant~~ of ~~rain forest.~~common ~~The~~stock ~~area is hilly~~ and ~~rugged~~60,000,000 ~~running from 180m to 300m in elevation~~warrants. ~~Around~~Each warrant entitles the ~~licences~~holder isto ~~the~~purchase ~~Atewa~~one ~~range~~additional ~~about~~common ~~1050m above~~share ~~sea~~at ~~level~~$0.05 ~~There~~for ~~are~~a ~~little~~period ~~published records~~ of ~~extensive~~five ~~widely~~years ~~scattered~~from ~~gold mineralization old pits, shafts and adits, as well as artisanal gold workings in~~ the ~~concessions~~closing date. ~~In the mid-sixties~~Quivira, ~~the~~a ~~Geological~~subsidiary ~~Survey Department~~ of ~~Ghana undertook~~ ~~reconnaissance~~Waratah, ~~mapping~~owns and ~~soil~~operates ~~geochemical~~gold ~~survey~~and indiamond ~~the~~mining ~~area~~properties ~~during which traces of gold were recorded~~ in ~~panned concentrates of geochemical samples~~Ghana.

The closing of the agreement was subject to the completion of a private placement financing of up to US$1,500,000, which private placement was completed in April 2018. ~~Osenase~~We issued 30,000,000 units (the “Units”) at a price of US$0.05 per unit for aggregate gross proceeds of US$1,500,000. US$1,100,000 of the proceeds were advanced as non-interest bearing loans since 2014 and were utilized to cover general and administrative expenses, as well as to carry out exploration work on our mineral properties. The remaining balance of US$400,000 was received by April 2018. Each Unit consists of one common share and one share purchase warrant entitling the holder thereof to purchase one additional common share at a price of $0.05 per share for a term of five years from the date of issuance.

~~Osenase~~Closing ~~is in~~ the ~~Birim~~Agreement ~~Central Municipal District. The nearest town to the project area~~ is ~~the~~also ~~District~~conditional ~~Capital~~upon receiving ~~Akim~~legal ~~Oda.~~opinions ~~This project has seen limited amount~~ of ~~gold~~Ghana ~~exploration. The~~counsel ~~concession~~confirming ~~was~~various ~~previously~~matters ~~held~~relating byto ~~Cornucopia Resources in~~ the ~~1990s~~laws ~~and~~of ~~was~~Ghana, ~~engaged~~including incorporate ~~potential~~and ~~for~~title ~~a diamond resource. Paramount~~opinions; ~~Mining Corporation held~~ the ~~concession~~Company ~~for~~receiving ~~almost~~legal 6opinions ~~years~~of ~~with~~Australian ~~limited~~counsel ~~amount~~confirming ofvarious ~~work.~~matters ~~The~~relating ~~limited~~to ~~work~~the ~~done~~laws ~~was~~of ~~focused~~Australia, onincluding ~~diamondiferous~~corporate ~~hard~~and ~~rock~~title ~~potential~~opinions; atcompletion ~~Atiankama Nkwanta. The presence~~ of ~~diamonds~~certain inongoing ~~what~~transactions ~~appears to be an in-situ unit exposed~~ by ~~the~~Quivira ~~Francis Pits~~relating ~~at Atiakama Nkwanta provides an opportunity~~ to ~~explain~~ the ~~source~~transfer of ~~some~~title ofto ~~the~~certain ~~diamonds~~assets inand ~~the~~to ~~region. S Two oriented grids~~an ~~were~~assignment ~~sampled~~of indebt; ~~2007~~and ~~but~~preparation ~~were~~of ~~never analysed for gold~~U. ~~The samples have been stored at the Manso camp to be analysed later~~S. ~~No subsequent~~GAAP ~~work~~consolidated ~~has~~financial ~~been~~statements ~~carried~~for ~~out to establish gold or diamond potential, and there is no guarantee that ore is present in economically significant quantity~~Quivira.

2Our directors conducted their first visit to Ghana in August 2015, when they visited the Birim Region where the three Ghanaian concessions are located. ~~Asamankese~~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. Field work on the three concessions has since ceased and associated exploration permits have expired. Neither the Company nor Quivira holds any right title or claim to the concessions, but the Company endeavors to renew permits subject to securing sufficient financing. There is no guarantee that sufficient financing will be raise in a timely manner, if at all.

~~Asamankese~~We isintend ato ~~150Km2~~renew ~~Prospecting~~permits ~~License (PL)~~for three concessions in ~~the~~Ghana ~~West~~for ~~Akim~~their ~~District.~~gold ~~The~~and ~~nearest~~diamond ~~town~~potential, and to explore the ~~project~~market ~~area~~for isother ~~the~~viable ~~District~~assets. ~~Capital~~All ~~Asamankese.~~three ~~Asamankese~~licences ~~was~~have ~~originally~~expired and ~~part~~require ofan ~~Osenase~~estimated ~~under~~$100,000 ato ~~reconnaissance licence~~renew. InWe ~~2006,~~are ~~about~~currently 4in ~~soil-oriented~~discussions ~~grids~~with onwith ~~800m~~prospective xequity ~~50m~~investors ~~was~~to ~~established~~finance ~~and~~the ~~sampled.~~renewal ~~The~~costs, ~~samples~~however ~~were~~no ~~stored~~agreement athas ~~the~~been ~~Manso~~secured. ~~camp~~Nevertheless, in order to secure necessary financing, we will be ~~analysed~~required ~~later~~to increase our authorized capital. The ~~samples~~Asamankese, ~~are~~Osenase ~~still~~and inPramkese ~~storage~~concessions atare ~~the~~located ~~Manso~~near ~~camp.~~Asamankese, AAkim ~~total~~Oda ofand Kade towns respectively. ~~436~~The ~~samples~~concession ~~representing~~is ~~two~~dominated ofby ~~the~~broad ~~gridlines~~pene ~~L1600N~~plain, ~~and~~dotted ~~L2400N~~with atmoderate ~~800m~~to ~~apart~~high ~~were~~hills ~~later~~and onremnant ~~analysed~~of ~~for~~rain ~~gold~~forest. The ~~samples~~area ~~were~~is hilly and ~~sent~~rugged, torunning ~~SGS~~from ~~Tarkwa~~180m ~~for~~to ~~2kg~~300m ~~BLEG~~in ~~analysis~~elevation. ~~Results~~Around ~~received~~the ~~were~~licences ~~not~~is ~~encouraging~~the ~~for~~Atewa ~~gold,~~range ~~with~~about ~~only~~1050m ~~one~~above ~~modest~~sea ~~spike~~level. ofThere ~~170~~are ~~ppb~~little published ~~Au,~~records ~~associated~~of ~~with~~extensive ~~alluvials.~~widely Ascattered ~~limited~~gold ~~stream~~mineralization ~~sediment~~old ~~program~~pits, ~~began~~shafts inand ~~November~~adits, ~~2008~~as ~~but~~well ~~could~~as ~~not~~artisanal begold ~~completed~~workings ~~due~~in tothe ~~financial constraints~~concessions. In ~~About~~the ~~108~~mid-sixties, ~~stream~~the ~~sediment~~Geological ~~samples~~Survey ~~were~~Department ~~collected~~of ~~and~~Ghana ~~panned~~undertook ~~for~~reconnaissance ~~visible~~mapping ~~gold~~and ~~out~~soil ofgeochemical asurvey ~~total~~in ~~183~~the ~~planned. No laboratory~~area ~~analysis~~during ~~was~~which ~~carried~~traces ~~out.~~of ~~About~~gold 80were ~~sample~~recorded ~~points~~in ~~are~~panned ~~still~~concentrates ~~yet~~of togeochemical ~~be sampled~~samples.

181. Osenase

3Osenase is in the Birim Central Municipal District. The ~~Pramkese~~nearest town to the project area is the District Capital Akim Oda. This project has seen limited amount of gold exploration. The concession was previously held by Cornucopia Resources in the 1990s and was engaged in potential for a diamond resource. Paramount Mining Corporation held the concession for almost 6 years with limited amount of work. The limited work done was focused on diamondiferous hard rock potential at Atiankama Nkwanta. The presence of diamonds in what appears to be an in-situ unit exposed by the Francis Pits at Atiakama Nkwanta provides an opportunity to explain the source of some of the diamonds in the region. S Two oriented grids were sampled in 2007 but were never analysed for gold. The samples have been stored at the Manso camp to be analysed later. No subsequent work has been carried out to establish gold or diamond potential, and there is no guarantee that ore is present in economically significant quantity.

Pramkese is a 66 square kilometres Prospecting License (PL) in the Kwaebibirim District located in the Birim Diamond Field. The nearest town to the project area is the District Capital Kade. Limited reconnaissance work was carried out in 2009 and the licence was converted to a Prospecting Licence. The exercise concentrated on the south of the town of Pramkese. Ten (10) alluvial pits were dug and sampled. The samples collected were panned and hand jigged for gold and diamond respectively. In the early 90’s, a fair amount of work was done on the concession for both alluvial gold and diamond by Basogard. Basogard defined some alluvial gold and diamond resources which were never investigated.18

~~The company is now in discussions with various potential partners to explore and define the potential of these concessions, however no definitive agreements have been reached~~2. ~~There~~ ~~is no guarantee that any agreements will be reached or that permits will be secured.~~Asamankese

~~Going~~Asamankese ~~Concern~~is a 150Km2 Prospecting License (PL) in the West Akim District. The nearest town to the project area is the District Capital Asamankese. Asamankese was originally part of Osenase under a reconnaissance licence. In 2006, about 4 soil-oriented grids on 800m x 50m was established and sampled. The samples were stored at the Manso camp to be analysed later. The samples are still in storage at the Manso camp. A total of 436 samples representing two of the gridlines L1600N and L2400N at 800m apart were later on analysed for gold. The samples were sent to SGS Tarkwa for 2kg BLEG analysis. Results received were not encouraging for gold, with only one modest spike of 170 ppb Au, associated with alluvials. A limited stream sediment program began in November 2008 but could not be completed due to financial constraints. About 108 stream sediment samples were collected and panned for visible gold out of a total 183 planned. No laboratory analysis was carried out. About 80 sample points are still yet to be sampled.

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 business3. 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 loss of $50,455 for the six months ended September 30, 2020, and have incurred cumulative losses since inception of $35,359,152. 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.Pramkese

WePramkese ~~will~~is ~~need~~a to66 ~~raise~~square ~~additional~~kilometres ~~funds~~Prospecting toLicense ~~finance~~(PL) ~~continuing~~in ~~operations~~the Kwaebibirim District located in the Birim Diamond Field. ~~However,~~The ~~there~~nearest ~~are~~town noto ~~assurances~~the ~~that~~project wearea ~~will~~is bethe ~~successful~~District Capital Kade. Limited reconnaissance work was carried out in ~~raising~~2009 ~~additional~~and ~~funds~~the licence was converted to a Prospecting Licence. ~~Without~~The exercise concentrated ~~sufficient~~on ~~additional~~the ~~financing,~~south itof ~~would~~the betown ~~unlikely~~of ~~for~~Pramkese. usTen to(10) ~~continue~~alluvial aspits awere ~~going~~dug ~~concern~~and sampled. ~~Our~~The ~~ability~~samples tocollected ~~continue~~were aspanned aand ~~going~~hand jigged for ~~concern~~gold isand ~~dependent~~diamond ~~upon~~respectively. ~~our~~In ~~ability~~the toearly ~~successfully~~90’s, ~~accomplish~~a ~~the~~fair ~~plans~~amount ~~described~~of inwork ~~this~~was ~~quarterly~~done ~~report~~on ~~and~~the ~~eventually~~concession ~~secure~~for both alluvial gold and diamond ~~other~~by ~~sources~~Basogard. ofBasogard ~~financing~~defined some alluvial gold and ~~attain~~diamond ~~profitable~~resources ~~operations~~which were never investigated.

~~Results~~The company is now in discussions with various potential partners to explore and define the potential of ~~Operations~~these concessions, however no definitive agreements have been reached. There is no guarantee that any agreements will be reached or that permits will be secured.

~~Three~~Going ~~Months~~Concern ~~Ended September 30, 2020 and 2019~~

~~The~~Our ~~net~~financial ~~loss~~statements ~~and~~are ~~comprehensive~~prepared ~~loss~~using ~~for~~generally accepted accounting principles in the ~~three~~United ~~months~~States ~~ended~~of ~~September~~America ~~30,~~applicable ~~2020~~to ~~was~~a ~~$13~~going concern,~~076~~ aswhich ~~compared~~contemplates tothe realization of assets and liquidation of liabilities in the ~~net~~normal ~~loss~~course of business. We have not yet established an ongoing source of revenues sufficient to cover our operating costs and ~~comprehensive~~to allow us to continue as a going concern. We have incurred a net loss of $179,144 for ~~three~~the ~~months~~nine ~~ended~~months ~~September~~ended 30December 31, ~~2019~~2020 and have incurred cumulative losses since inception of $~~262~~35,~~912~~487,841. ~~Operating~~These ~~expenses~~factors ~~for~~raise substantial doubt about the ~~2nd~~ability ~~quarter~~of ~~totaled~~the ~~$37,338~~Company ~~compared~~to continue as going concern. Our ability to ~~$69,878,~~continue inas ~~2019~~ a ~~decrease~~going ofconcern ~~$32,540.~~is ~~Some~~dependent ofon ~~the~~our ~~more~~ability ~~items~~to ~~contributing~~continue obtaining adequate capital to ~~the~~fund ~~net~~operating ~~loss~~losses ~~and~~until ~~comprehensive~~we ~~loss~~become ~~for~~profitable. ~~the~~If ~~2nd~~we ~~quarter~~are unable to obtain adequate capital, we could ofbe ~~2020~~forced ~~and~~to ~~2019~~significantly ~~were~~curtail asor ~~follows:~~cease operations.

●We ~~Exploration~~will ~~expenses~~need ofto ~~$Nil~~raise ~~(2019~~additional -funds ~~$10,408)~~to finance continuing operations. ~~The~~However, ~~Company~~there ~~currently~~are no assurances that we will ~~not~~be ~~involve~~successful ~~the~~in ~~exploration~~raising ~~activities~~additional ~~due~~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 ~~loss~~plans described in this quarterly report and eventually secure other sources of ~~Mansounia~~financing ~~exploration~~and ~~license~~attain profitable operations.

●Results ~~Consulting and professional fees~~ of ~~$21,033 (2019 - $42,997). The decrease is result of cutting back the management fees in the current quarter.~~Operations

●Three ~~Loss~~Months onEnded ~~the~~December ~~investment in warrants of $Nil (2019 - $65~~31,~~507).~~ ~~The~~2020 ~~fair value of warrants of ASI is $Nil in the current quarter due to the warrants expired.~~and 2019

●The ~~Accretion~~net ofloss and comprehensive loss for the three months ended December 31, 2020 was $9128,~~130~~689 ~~(2019~~as -compared to the net loss and comprehensive loss for three months ended December 31, 2019 of $1685,~~788)~~556. ~~The~~Operating ~~decrease~~expenses infor ~~accretion~~the is3rd ~~due~~quarter totaled $50,113 compared to ~~only~~$55,178, ~~one~~in ~~convertible~~2019 ~~note~~a isdecrease ~~still~~of ~~outstanding~~$5,065. inSome of the ~~current~~more ~~quarter~~significant ~~when~~items ~~compared~~contributing to ~~two~~the ~~convertible~~net ~~notes~~loss inand comprehensive loss for the 3rd quarter of 2020 and 2019. were as follows:

● ~~Unrealized~~Exploration ~~gain~~expenses ~~on the investment in common shares~~ of $~~34,899~~Nil (2019 - $~~100~~12,~~113 unrealized loss~~061). The ~~unrealized~~Company ~~gain~~currently is ~~due~~not toinvolved ~~holding the investment~~ in ~~Ashanti~~exploration ~~Sankofa~~activities ~~Inc’s~~due ~~(TSX.V-ASI)’~~to ~~common~~the ~~shares.~~loss ~~The market value~~ of ~~ASI’s~~Mansounia ~~common~~exploration ~~shares increased for the current quarter~~license.

19● Consulting and professional fees of $23,557 (2019 - $37,385). The decrease is result of cutting back the management fees in the current quarter.

~~Six~~● ~~Months~~Loss ~~Ended~~on ~~September~~the ~~30,~~investment ~~2020 and~~in warrants of $Nil (2019 - $2,156). The fair value of warrants of ASI is $Nil in the current quarter as the warrants expired.

The net loss and comprehensive loss for the six months ended September 30, 2020 was $50,455 as compared to the net loss for the six months ended September 30, 2019 of $217,381. Operating expenses for two quarters totaled $107,975 compared to $137,276 in 2019 a decrease of $29,301. Some of the more items contributing to the net loss and comprehensive loss for two quarters of 2020 and 2019 were as follows:19

● ~~Exploration~~Accretion ~~expenses~~ of $~~Nil~~15,763 (2019 - $3527,~~513~~615). The ~~Company~~decrease ~~currently~~in ~~will~~accretion ~~not~~is ~~involve~~due ~~the~~to ~~exploration~~only ~~activities~~one ~~due~~convertible tonote is still outstanding in the ~~loss~~current ofquarter ~~Mansounia~~when ~~exploration~~compared ~~license~~to two convertible notes in 2019.

● ~~Consulting~~Unrealized ~~and~~loss ~~professional~~on ~~fees~~the investment in common shares of $4361,~~824~~107 (2019 - $771,~~502~~283 unrealized gain). The ~~decrease~~unrealized gain is ~~result~~due ofto ~~cutting~~holding ~~back~~ the ~~management~~investment ~~fees~~ in Ashanti Sankofa Inc’s common shares. The market value of ASI’s common shares decreased for the current quarter.

● ~~Loss~~Default onpenalties ~~the investment in warrants~~ of $~~Nil~~15,340 (2019 - $~~20,854~~Nil). The ~~fair~~Default ~~value~~penalties ofare ~~warrants~~related ~~of ASI is Nil in the current quarter due~~ to ~~the~~two ~~warrants~~convertible ~~expired~~debentures.

●Nine ~~Accretion~~Months ofEnded ~~$18,391~~December ~~(2019 - $16~~31,~~788).~~ ~~The accretion of the convertible debenture was recognized in both~~ 2020 and 2019.

●The ~~Default~~net ~~penalties~~loss ofand comprehensive loss for the nine months ended December 31, 2020 was $35179,~~000~~144 (as compared to the net loss for the nine months ended December 31, 2019 -of $~~Nil)~~302,937. ~~The~~Operating expenses ~~Default~~for ~~penalties~~three quarters totaled $158,088 compared to $192,454 in 2019 a ~~non-cash~~decrease ~~expense~~of ~~incurred~~$34,366. isSome ~~due~~of the more significant items contributing to the net loss and comprehensive loss for three quarters of ~~Mansounia~~2020 ~~property.~~and 2019 were as follows:

● ~~Unrealized~~Exploration ~~gain~~expenses ~~on the investment in common shares~~ of $~~85,101~~Nil (2019 - $3147,~~837 unrealized loss~~574). The ~~unrealized~~Company ~~gain~~currently iswill ~~due~~not toinvolve ~~holding~~ the ~~investment~~exploration inactivities ~~Ashanti~~due ~~Sankofa~~to ~~Inc’s~~the ~~(TSX.V-ASI)’~~loss ~~common shares. The market value~~ of ~~ASI’s~~Mansounia ~~common~~exploration ~~shares decreased for the current quarter~~license.

~~Management~~● ~~anticipates~~Consulting ~~operating expenses~~and ~~will~~professional ~~materially~~fees ~~increase~~of in$67,381 ~~future~~(2019 ~~periods~~- as$114,887). weThe ~~focus~~decrease onis ~~green mineral development and incur increased costs as a~~ result of ~~being~~cutting aback ~~public~~the ~~company~~management ~~with~~fees ain ~~class of securities registered under~~ the ~~Securities~~current ~~Exchange~~fiscal ~~Act of 1934~~year.

~~Liquidity~~● ~~and~~Loss ~~Capital~~on ~~Resources~~the investment in warrants of $Nil (2019 - $23,010). The fair value of warrants of ASI is $Nil in the current quarter as the warrants expired.

~~Working~~● ~~Capital~~Accretion of $34,154 (2019 - $44,403). The accretion of the convertible debenture was recognized in both 2020 and 2019.

Continuing Operations	September 30, 2020			March 31, 2020
Current Assets	$	29,203		$	32,718
Current Liabilities		753,672			810,779
Working Capital Deficit	$	(724,469	)	$	(778,061	)

●

Default penalties of $50,340 (2019 - $Nil). The Default penalties are related to two convertible debentures.

~~Current~~● ~~Assets~~Unrealized gain on the investment in common shares of $23,994 (2019 - $30,554 unrealized loss). The unrealized gain is due to holding the investment in Ashanti Sankofa Inc’s common shares. The market value of ASI’s common shares increased for the current fiscal year.

~~The~~Management ~~nominal~~anticipates ~~decrease~~operating expenses will materially increase in ~~current~~future ~~assets~~ periods as ofwe ~~September~~focus ~~30,~~on ~~2020~~green ~~compared~~mineral todevelopment ~~March~~and ~~31,~~incur ~~2020~~increased ~~was~~costs ~~primarily~~as ~~due~~a toresult of being a ~~decrease~~public company inwith ~~cash~~a ~~from~~class ~~$27,551~~of tosecurities ~~$18,036~~registered under the Securities Exchange Act of 1934.

~~Current~~Liquidity ~~Liabilities~~and Capital Resources

~~Current~~Working ~~liabilities as at September 30, 2020 decreased by $57,107 since March 31, 2020, primarily due to the conversion of convertible debentures into common shares during the current quarters.~~Capital

	December 31, 2020			March 31, 2020
Current Assets	$	21,575		$	32,718
Current Liabilities		804,422			810,779
Working Capital Deficit	$	(782,847	)	$	(778,061	)

~~Cash~~Current ~~Flow~~Assets

~~Our~~The ~~cash~~nominal ~~flow~~decrease ~~was~~in current assets as ~~follows:~~of December 31, 2020 compared to March 31, 2020 was primarily due to a decrease in cash from $27,551 to $13,408.

	Six Months Ended September 30
	2020 $			2019 $
Net cash used in operating activities		(77,515	)		(76,340	)
Net cash used in investing activities		-			-
Net cash provided by financing activities		68,000			137,500
Decrease (increase) in cash and cash equivalents		(9,515	)		61,160

~~Operating~~Current ~~activities~~Liabilities

~~The~~Current ~~increase~~liabilities inas ~~net~~at ~~cash~~December ~~used~~31, in2020 ~~operating~~decreased ~~activities~~by ~~for~~$6,357 ~~the~~since ~~six~~March ~~months ended September 30~~31, 2020, ~~compared~~primarily due to the ~~same~~conversion ~~period~~of inconvertible ~~2019~~debentures ~~was~~into ~~primarily~~common asshares aduring ~~result of increased operating activities in~~ the current ~~quarter~~fiscal year.

~~Investing~~Cash ~~activities~~Flow

~~For~~Our ~~the~~cash ~~six~~flow ~~months~~was ~~ended~~as ~~September 30, 2019 and 2020, there were no investing activities incurred.~~follows:

Financing activities

	Nine Months Ended December 31
	2020 $			2019 $
Net cash used in operating activities		(99,383	)		(101,086	)
Net cash used in investing activities		—			—
Net cash provided by financing activities		85,240			137,500
Decrease (increase) in cash and cash equivalents		(14,143	)		36,414

~~There~~Operating ~~were convertible promissory notes issued in the six months ended September 30, 2020 and September 30, 2019.~~activities

~~Critical~~The ~~Accounting~~increase ~~Policies~~in net cash used in operating activities for the nine months ended December 31, 2020, compared to the same period in 2019 was primarily as a result of increased operating activities in the current quarter.

~~There~~Investing ~~have~~activities ~~been no significant changes to the critical accounting policies as described in our Annual Form 10-K for the year ended March 31, 2020.~~

~~Cash~~For ~~Requirements~~the nine months ended December 31, 2019 and 2020, there were no investing activities incurred.

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 $500,000 to $750,000 and we currently have approximately $18,000 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~~activities 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~~There ~~Sheet~~were ~~Arrangements~~two convertible promissory notes issued in the nine months ended December 31, 2020 and December 31, 2019, of which one convertible note was repaid in the 3rd quarter.

WeCritical ~~have~~Accounting 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.Policies

~~Contractual~~There ~~Obligations~~have been no significant changes to the critical accounting policies as described in our Annual Form 10-K for the year ended March 31, 2020.

~~Not~~Cash ~~applicable.~~Requirements

21Our 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 $500,000 to $780,000 and we currently have approximately $13,000 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.

~~Item~~Off-Balance 3.Sheet ~~Quantitative~~Arrangements ~~and Qualitative Disclosures About Market Risk~~

We have no off-balance sheet arrangements that have or are reasonably likely to have a ~~smaller~~current ~~reporting~~or ~~company~~future aseffect ~~defined by~~on ~~Rule~~our ~~12b-2~~financial ofcondition, ~~the~~changes ~~Exchange~~in ~~Act~~financial ~~and~~condition, ~~are~~revenues or ~~not~~expenses, ~~required~~results toof ~~provide~~operations, ~~the~~liquidity, ~~information~~capital ~~required~~expenditures ~~under~~or ~~this~~capital ~~item~~resources that is material to our stockholders.

~~Item 4. Controls and Procedures~~21

~~Evaluation~~Contractual ~~of Disclosure Controls and Procedures~~Obligations

WeNot 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 disclosureapplicable. 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~~Item in3. ~~Internal~~Quantitative ~~Control~~and ~~Over~~Qualitative ~~Financial Reporting~~Disclosures About Market Risk

~~There~~We ~~were~~are noa ~~changes~~smaller inreporting ~~our~~company ~~internal~~as ~~controls~~defined ~~that occurred during the quarter covered~~ by ~~this~~Rule ~~report~~12b-2 ~~that~~of ~~have~~the ~~materially~~Exchange ~~affected,~~Act orand are ~~reasonably~~not ~~likely~~required to ~~materially~~provide ~~affect our~~the ~~internal~~information ~~controls~~required under this item.

22Item 4. Controls and Procedures

~~PART~~Evaluation IIof -Disclosure ~~OTHER~~Controls ~~INFORMATION~~and Procedures

~~Item~~We 1maintain “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. ~~Legal~~We ~~Proceedings~~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.

WeChanges ~~are~~in ~~not~~Internal aControl ~~party~~Over ~~to any pending legal~~Financial ~~proceeding. Management is not aware of any threatened litigation, claims or assessments.~~Reporting

~~Item~~There ~~1A.~~were ~~Risk~~no ~~Factors~~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.

~~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.~~22

~~Item~~PART 2.II ~~Unregistered~~- ~~Sales~~OTHER ~~of Equity Securities and Use of Proceeds~~INFORMATION

On ~~September~~Item ~~29, 2017, the Company entered into an agreement with Waratah Capital Ltd~~1. ~~(“Waratah”),~~Legal 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.Proceedings

OnWe ~~April~~are ~~24,~~not ~~2018, the Company closed the private placement as part of the Quivira acquisition and issued 30,000,000 units at~~ a ~~price~~party ofto ~~$0.05~~any ~~per~~pending ~~unit~~legal ~~for gross proceeds~~proceeding. ofManagement ~~$1,500,000.~~is ~~Each~~not ~~unit~~aware ~~consists~~ of ~~one~~any ~~common~~threatened ~~share~~litigation, ~~and~~claims ~~one~~or ~~transferable share purchase warrant exercisable at a price of $0~~assessments.~~05 per share for a term of five years.~~

~~The~~Item ~~above~~1A. ~~securities~~Risk ~~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.~~Factors

~~Item~~We 3.are ~~Defaults~~a ~~Upon~~smaller ~~Senior~~reporting ~~Securities~~company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information required under this item.

~~None~~ Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

~~Item~~On 4September 29, 2017, the Company entered into an agreement with Waratah Capital Ltd. ~~Mine~~(“Waratah”), ~~Safety~~a ~~Disclosure~~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.

~~Not~~On ~~applicable~~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.

~~Item~~The 5.above ~~Other~~securities ~~Information~~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.

On ~~June~~Item ~~30,~~3. ~~2020,~~Defaults ~~Ronald~~Upon ~~Renee~~Senior ~~was appointed as the Interim Chief Financial Officer the Company.~~Securities

23None.

Item 4. Mine Safety Disclosure

Not applicable.

Item 5. Other Information

On June 30, 2020, Ronald Renee was appointed as the Interim Chief Financial Officer the Company.

On February 23, 2020, Tony Pickett was appointed as Non-Executive director and Chairman of the Company.

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
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.

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/ Ronald Renee
Name:	Ronald Renee
Title:	Chief Executive Officer
Date:	~~November~~July 2015, ~~2020~~2021

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