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Golden Star Resource Corp (GLNS0.00%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing total assets of $7,000, a decrease from $2,813 at the end of the previous quarter. The company maintains a working capital deficit of $833,471.
Golden Star Resource Corp reported a net loss of $14,430 for the quarter, compared to a net loss of $13,513 in the same quarter the previous year.
The company has not generated any revenues and remains in the exploration stage, focusing on acquiring and exploring mining claims.
Golden Star Resource Corp holds a 100% interest in four unpatented lode mining claims in Nevada, acquired from Kee Nez Resources, LLC.
The company has no immediate plans for exploration due to subdued market conditions and the need to raise additional funds.
The filing notes that the company requires additional financing to continue operations and meet obligations, raising substantial doubt about its ability to continue as a going concern.
Golden Star Resource Corp has issued 7,070,000 shares of common stock, with no new shares issued during the quarter.
The company has a loan payable to non-related parties, unsecured and non-interest bearing, and amounts due to related parties totaling $421,565.
The filing includes a discussion of management's plans to raise equity financing and the potential impact of environmental laws on operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Golden Star Resource Corp quarterly 10-Q report dated November 12, 2024. To report an error, please email earnings@qz.com.