60
RARE ELEMENT RESOURCES LTD.
CONSOLIDATED BALANCE SHEETS
(Expressed in thousands of U.S. Dollars, except shares outstanding)
December 31,
2014
2013
ASSETS:
CURRENT ASSETS:
Cash and cash equivalents
$ 10,139
$ 23,902
Interest receivable
6
4
Accounts receivable
21
29
Prepaid expenses
315
402
Total Current Assets
10,481
24,337
Equipment, net
344
521
Land
980
980
Mineral properties
27
27
Total Assets
$ 11,832
$ 25,865
LIABILITIES AND SHAREHOLDERS EQUITY:
CURRENT LIABILITIES:
Accounts payable and accrued liabilities
$ 1,098
$ 1,528
Asset retirement obligation
164
204
Total Current Liabilities
1,262
1,732
Asset retirement obligation
202
211
Total Liabilities
1,464
1,943
Commitments and Contingencies
SHAREHOLDERS' EQUITY:
Common shares, no par value - unlimited shares authorized; shares
outstanding December 31, 2014 – 47,707,216, December 31, 2013 -
47,627,245
100,652
100,513
Additional paid in capital
23,186
22,850
Accumulated other comprehensive income/(loss)
-
-
Accumulated deficit
(113,470)
(99,441)
Total Shareholders' Equity
10,368
23,922
Total Liabilities and Shareholders' Equity
$ 11,832
$ 25,865
See accompanying notes to consolidated financial statements.
