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Lode-Star Mining Inc (LSMG0.00%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The company, now known as FinTrade Sherpa, Inc., has reported no revenue for the fiscal year and an accumulated deficit of $4,405,315. The report highlights the company's transition to a new business model focused on developing an artificial intelligence-powered financial research platform.
The filing details a going concern uncertainty, as the company has not generated revenue and requires additional financing to continue operations. FinTrade Sherpa, Inc. is pursuing equity and debt financing to support its business plan.
The company entered into several agreements in February 2025, including an Asset Purchase Agreement, a License Agreement, and a Software Development Agreement, as part of its strategic shift.
A Debt Conversion Agreement was also executed with Lode-Star Gold Inc., converting $169,645 of debt into common shares.
FinTrade Sherpa, Inc. remains a smaller reporting company with no employees, relying on external consultants and advisors. The company has not declared any dividends and its common stock is subject to penny stock regulations.
The company's financial statements have been prepared in accordance with GAAP, with significant reliance on estimates and assumptions due to the uncertainty of future events.
The report includes a discussion of risk factors, emphasizing the company's history of losses, liquidity risks, and the limited market for its common stock.
Management acknowledges the lack of effective internal control over financial reporting, citing the size and nature of the existing business operation as limiting factors.
The company's board of directors has not yet appointed members to its audit, compensation, or nominating committees, though plans for these committees are outlined in the report.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Lode-Star Mining Inc annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.