STARGOLD MINES, INC. (A DEVELOPMENT STAGE COMPANY) Statements of Stockholders' Equity Periods Ended March 31, 2007 and 2006 Unaudited | | Common | | Common | | Additional | | | | Deficit Accumulated During the | | | | | | Shares | | Shares | | Paid-in | | Subscriptions | | Development | | Stockholders' | | | | Number | | Amount | | Capital | | Receivable | | Stage | | Equity | | | | | | | | | | | | | | | | Balance, January 1, 2006 - as previously reported | | | 2,000,000 | | $ | 2,000 | | $ | 43,000 | | $ | - | | $ | (11,917 | ) | $ | 33,083 | | | | | | | | | | | | | | | | | | | | | | Restated to give retroactive effect to the November 23, 2006 1 for 40 stock split (note 5 and 8) | | | 78,000,000 | | | 6,000 | | | (6,000 | ) | | - | | | - | | | - | | | | | | | | | | | | | | | | | | | | | | Balance, January 1, 2006 - as restated | | | 80,000,000 | | | 8,000 | | | 37,000 | | | - | | | (11,917 | ) | | 33,083 | | Net loss for the period | | | - | | | - | | | - | | | - | | | (1,437 | ) | | (1,437 | ) | | | | | | | | | | | | | | | | | | | | | Balance, March 31, 2006 | | | 80,000,000 | | $ | 8,000 | | $ | 37,000 | | $ | - | | $ | (13,354 | ) | $ | 31,646 | | | | | | | | | | | | | | | | | | | | | | Balance, January 1, 2007 | | | 81,000,000 | | $ | 8,100 | | $ | 1,036,900 | | $ | - | | $ | (62,643 | ) | $ | 982,357 | | Common shares issued for cash (note 5) | | | 83,200 | | | 8 | | | 8,312 | | | (5,120 | ) | | - | | | 3,200 | | Common shares issued for services (note 5) | | | 25,000 | | | 3 | | | 2,497 | | | - | | | - | | | 2,500 | | Net loss for the period | | | - | | | - | | | - | | | - | | | (23,262 | ) | | (23,262 | ) | | | | | | | | | | | | | | | | | | | | | Balance, March 31, 2007 | | | 81,108,200 | | $ | 8,111 | | $ | 1,047,709 | | $ | (5,120 | ) | $ | (85,905 | ) | $ | 964,795 | |
(The accompanying notes are an integral part of these financial statements.) |