2024 Q4 Form 10-Q Financial Statement

#000168316824007726 Filed on November 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $80.31K
YoY Change -9.95%
% of Gross Profit
Research & Development $72.19K
YoY Change -41.23%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $152.5K
YoY Change -28.07%
Operating Profit -$152.5K
YoY Change -28.07%
Interest Expense $32.26K
YoY Change 1140.77%
% of Operating Profit
Other Income/Expense, Net -$43.93K
YoY Change -105.59%
Pretax Income -$164.2K
YoY Change -128.48%
Income Tax
% Of Pretax Income
Net Earnings -$164.2K
YoY Change -128.48%
Net Earnings / Revenue
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00
COMMON SHARES
Basic Shares Outstanding 185.7M shares 173.7M shares
Diluted Shares Outstanding 173.7M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $407.7K
YoY Change 994.15%
Cash & Equivalents $6.553K
Short-Term Investments $401.1K
Other Short-Term Assets $26.00K
YoY Change -43.48%
Inventory
Prepaid Expenses $26.00K
Receivables
Other Receivables
Total Short-Term Assets $433.7K
YoY Change 420.86%
LONG-TERM ASSETS
Property, Plant & Equipment $6.241M
YoY Change 0.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $6.241M
YoY Change 0.73%
TOTAL ASSETS
Total Short-Term Assets $433.7K
Total Long-Term Assets $6.241M
Total Assets $6.675M
YoY Change 6.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $149.8K
YoY Change 5.52%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $687.3K
YoY Change 209.98%
LONG-TERM LIABILITIES
Long-Term Debt $101.9K
YoY Change
Other Long-Term Liabilities $138.8K
YoY Change -64.11%
Total Long-Term Liabilities $240.7K
YoY Change -37.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $687.3K
Total Long-Term Liabilities $240.7K
Total Liabilities $928.0K
YoY Change 52.55%
SHAREHOLDERS EQUITY
Retained Earnings -$11.77M
YoY Change 5.43%
Common Stock $17.37K
YoY Change 15.37%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.747M
YoY Change
Total Liabilities & Shareholders Equity $6.675M
YoY Change 6.3%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$164.2K
YoY Change -128.48%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$36.57K
YoY Change -85.52%
INVESTING ACTIVITIES
Capital Expenditures $45.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $71.24K
YoY Change
Cash From Investing Activities $26.24K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.530K
YoY Change -105.65%
NET CHANGE
Cash From Operating Activities -36.57K
Cash From Investing Activities 26.24K
Cash From Financing Activities 1.530K
Net Change In Cash -8.800K
YoY Change -96.85%
FREE CASH FLOW
Cash From Operating Activities -$36.57K
Capital Expenditures $45.00K
Free Cash Flow -$81.57K
YoY Change -67.71%

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us-gaap Nature Of Operations
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<p id="xdx_849_eus-gaap--NatureOfOperations_z4fFulJbZe6b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_861_zG7gxX293wt3">Nature of Operations</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Athena Gold Corporation (“we,” “our,” “us,” or “Athena”) is engaged in the acquisition and exploration of mineral resources. We were incorporated in Delaware on December 23, 2003, and began our mining operations in 2010.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s properties do not have any reserves. The Company plans to conduct exploration programs on these properties with the objective of ascertaining whether any of its properties contain economic concentrations of precious and base metals that are prospective for mining.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2024Q3 AHNR Working Capital
WorkingCapital
255000 usd
CY2024Q3 us-gaap Cash
Cash
7000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_846_eus-gaap--UseOfEstimates_z5vGIOPXKOGl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_867_zI7bbXFcDNod">Critical Judgments and Estimation Uncertainties</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, and expenses. These estimates and judgments are subject to change based on experience and new information which could result in outcomes that require a material adjustment to the carrying amounts of assets or liabilities affecting future periods. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized prospectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Share-based compensation</i> – The fair value of share-based compensation is calculated using the Black-Scholes model. The main assumptions used in the model include the estimated life of the option, the expected volatility of the Company’s share price, and the risk-free rate of interest. The resulting value calculated is not necessarily the value that the holder of the option could receive in an arm’s-length transaction.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Impairment of mineral properties</i> – Management applies significant judgment in its assessment of mineral properties and whether there are any indications of impairment. The Company considers both internal and external sources of information when making the impairment assessment. External sources of information considered are changes in the Company’s economic, legal and regulatory environment, which it does not control, but affects the recoverability of its mining assets. Internal sources of information the Company considers include the manner in which mining properties are expected to be used and indications of economic performance.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Warrant and option liability</i> – The fair value of the warrant and option liability is calculated using the Black-Scholes model. The main assumptions used in the model include the estimated life of the warrant and option, the expected volatility of the Company’s share price, and the risk-free rate of interest. The resulting value calculated is not necessarily the value that the holder of the warrant or option could receive in an arm’s-length transaction.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2023Q4 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0 usd
CY2022Q4 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0 usd
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-164168 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
576533 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-681122 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
538239 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
173723633 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
150591400 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
172848616 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
144589568 shares
CY2024Q3 AHNR Assumed Conversion Of Dilutive Shares
AssumedConversionOfDilutiveShares
0 shares
CY2023Q3 AHNR Assumed Conversion Of Dilutive Shares
AssumedConversionOfDilutiveShares
0 shares
AHNR Assumed Conversion Of Dilutive Shares
AssumedConversionOfDilutiveShares
0 shares
AHNR Assumed Conversion Of Dilutive Shares
AssumedConversionOfDilutiveShares
0 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
173723633 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
150591400 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
172848616 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
144589568 shares
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
31700303 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
44621053 shares
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
555 usd
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
25316 usd
us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
30000 usd
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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