$GLNS
Golden Star Resource Corp.

2024 Q2 Form 10-Q Financial Statement

#000149315224019385 Filed on May 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $9.270K $7.490K $10.22K
YoY Change -7.3% -26.71% 62.22%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $12.76K $10.00K $12.27K
YoY Change 27.6% -18.46% 47.8%
Operating Profit
YoY Change
Interest Expense -$10.00 -$20.00 -$50.00
YoY Change -60.0% 400.0%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00
YoY Change
Pretax Income -$12.78K -$10.00K -$12.27K
YoY Change 27.8% -18.5% 47.65%
Income Tax
% Of Pretax Income
Net Earnings -$12.78K -$10.00K -$12.27K
YoY Change 2.82% -18.46% 47.62%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 7.070M shares 7.070M shares 7.070M shares
Diluted Shares Outstanding 7.070M shares 7.070M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.00 $10.00 $0.00
YoY Change
Cash & Equivalents $13.00 $6.00 $4.00
Short-Term Investments
Other Short-Term Assets $2.800K $7.000K $6.650K
YoY Change 5.26% 74.54%
Inventory
Prepaid Expenses $2.800K $7.000K $6.650K
Receivables
Other Receivables
Total Short-Term Assets $2.810K $7.010K $6.650K
YoY Change 5.41% 74.54%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $3.00 -$4.00 -$4.00
YoY Change -99.89% 0.0%
TOTAL ASSETS
Total Short-Term Assets $2.810K $7.010K $6.650K
Total Long-Term Assets $3.00 -$4.00 -$4.00
Total Assets $2.813K $7.006K $6.646K
YoY Change 5.4% 5.42% 74.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $132.3K $127.2K $201.8K
YoY Change 164.5% -36.98% -3.11%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $284.1K $284.1K $201.6K
YoY Change 1.45% 40.93% 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $821.9K $813.3K $765.6K
YoY Change 6.73% 6.22% 7.62%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $821.9K $813.3K $765.6K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $821.9K $813.3K $765.6K
YoY Change 6.17% 6.22% 7.62%
SHAREHOLDERS EQUITY
Retained Earnings -$926.1K -$913.3K -$866.0K
YoY Change 5.42% 5.46%
Common Stock $70.00 $70.00 $70.00
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$819.0K -$806.3K -$759.0K
YoY Change
Total Liabilities & Shareholders Equity $2.813K $7.006K $6.646K
YoY Change 5.4% 5.42% 74.44%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$12.78K -$10.00K -$12.27K
YoY Change 2.82% -18.46% 47.62%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$3.510K -$13.03K -$19.58K
YoY Change -96.1% -33.45% 104.6%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
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 3.510K 13.05K 19.58K
YoY Change -96.1% -33.35% 104.81%
NET CHANGE
Cash From Operating Activities -3.510K -13.03K -19.58K
Cash From Investing Activities
Cash From Financing Activities 3.510K 13.05K 19.58K
Net Change In Cash 0.000 20.00 0.000
YoY Change -100.0%
FREE CASH FLOW
Cash From Operating Activities -$3.510K -$13.03K -$19.58K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Entity Tax Identification Number
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<p id="xdx_802_eus-gaap--NatureOfOperations_zBfU0x7shIR8" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. </b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_828_z5RII8oeTShg">NATURE OF OPERATIONS AND GOING CONCERN</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Organization</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company was incorporated in the State of Nevada, U.S.A. on April 21, 2006.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Exploration Stage Activities</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has been in the exploration stage since its formation and is primarily engaged in the acquisition and exploration of mining claims. Upon location of a commercial minable reserve, the Company expects to actively prepare the site for its extraction and enter a development stage.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Going Concern</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The general business strategy of the Company is to acquire and explore mineral properties. The continued operations of the Company and the recoverability of mineral property costs is dependent upon the existence of economically recoverable mineral reserves, the ability of the Company to obtain necessary financing to complete the development of its properties, and upon future profitable production. The Company has not generated any revenues or completed development of any properties to date. Further, the Company has a working capital deficit of $<span id="xdx_900_ecustom--WorkingCapitalDeficit_iNI_di_c20240331_zRCuFOr79HTl" title="Working capital deficit">806,263</span> (June 30, 2023 - $<span id="xdx_906_ecustom--WorkingCapitalDeficit_iNI_di_c20230630_zalqF1K1o7oi" title="Working capital deficit">771,412</span>), has incurred losses of $<span id="xdx_904_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_di_c20240331_zQ5ixs7WN1I2" title="Accumulated deficit">913,323</span> since inception, and further significant losses are expected to be incurred in the exploration and development of its mineral properties. The Company will require additional funds to meet its obligations and maintain its operations. There can be no guarantee that the Company will be successful in raising the necessary financing. Management’s plans in this regard are to raise equity financing as required.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These conditions raise substantial doubt about the Company’s ability to continue as a going concern. These condensed interim financial statements do not include any adjustments that might result from this uncertainty.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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CY2024Q1 us-gaap Other Liabilities
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Files In Submission

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