2023 Q1 Form 10-K Financial Statement
#000106299323008192 Filed on March 31, 2023
Income Statement
| Concept | 2023 Q1 | 2022 Q4 | 2022 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Cost Of Revenue | |||
| YoY Change | |||
| Gross Profit | |||
| YoY Change | |||
| Gross Profit Margin | |||
| Selling, General & Admin | $794.0K | $268.0K | $3.046M |
| YoY Change | 34.12% | -66.63% | 57.58% |
| % of Gross Profit | |||
| Research & Development | $1.250M | $4.302M | $4.302M |
| YoY Change | |||
| % of Gross Profit | |||
| Depreciation & Amortization | |||
| YoY Change | |||
| % of Gross Profit | |||
| Operating Expenses | $722.0K | $1.333M | $4.111M |
| YoY Change | 21.96% | 72.89% | 112.67% |
| Operating Profit | -$805.0K | -$4.255M | |
| YoY Change | -44.52% | -36.03% | |
| Interest Expense | $83.00K | -$496.0K | $144.0K |
| YoY Change | 56.6% | 713.11% | -29.41% |
| % of Operating Profit | |||
| Other Income/Expense, Net | -$1.311M | $0.00 | $2.327M |
| YoY Change | 358.39% | -100.0% | -279.69% |
| Pretax Income | -$2.116M | -$812.0K | -$1.928M |
| YoY Change | 156.48% | -27.37% | -36.24% |
| Income Tax | $0.00 | ||
| % Of Pretax Income | |||
| Net Earnings | -$2.116M | -$700.0K | -$1.928M |
| YoY Change | 156.48% | -37.39% | -36.24% |
| Net Earnings / Revenue | |||
| Basic Earnings Per Share | -$0.01 | -$0.01 | |
| Diluted Earnings Per Share | -$0.01 | $0.00 | -$0.01 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 309.6M shares | 304.5M shares | |
| Diluted Shares Outstanding | 309.6M shares | 304.5M shares |
Balance Sheet
| Concept | 2023 Q1 | 2022 Q4 | 2022 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $10.60M | $1.365M | $1.365M |
| YoY Change | 5225.13% | 62.11% | 62.11% |
| Cash & Equivalents | $10.60M | $1.365M | $1.365M |
| Short-Term Investments | |||
| Other Short-Term Assets | $100.0K | $56.00K | $56.00K |
| YoY Change | 112.77% | 30.23% | 30.23% |
| Inventory | |||
| Prepaid Expenses | |||
| Receivables | |||
| Other Receivables | $11.00K | $7.000K | |
| Total Short-Term Assets | $10.71M | $1.428M | $1.428M |
| YoY Change | 4115.75% | 60.27% | 60.27% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $7.884M | $7.884M | $7.884M |
| YoY Change | -76.32% | -75.52% | -75.52% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | $1.467M | $1.504M | $1.504M |
| YoY Change | |||
| Other Assets | $23.00K | $23.00K | $23.00K |
| YoY Change | -34.29% | -34.29% | -34.29% |
| Total Long-Term Assets | $9.374M | $9.411M | $9.411M |
| YoY Change | -71.87% | -70.81% | -70.81% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $10.71M | $1.428M | $1.428M |
| Total Long-Term Assets | $9.374M | $9.411M | $9.411M |
| Total Assets | $20.08M | $10.84M | $10.84M |
| YoY Change | -40.2% | -67.28% | -67.28% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $593.0K | $232.0K | $232.0K |
| YoY Change | -69.1% | -82.92% | -82.92% |
| Accrued Expenses | $22.00K | $4.000K | $4.000K |
| YoY Change | -99.6% | ||
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | $1.996M | ||
| YoY Change | |||
| Total Short-Term Liabilities | $10.77M | $1.984M | $1.984M |
| YoY Change | 456.17% | 40.41% | 40.41% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $813.0K | $1.874M | $1.874M |
| YoY Change | |||
| Other Long-Term Liabilities | |||
| YoY Change | |||
| Total Long-Term Liabilities | $813.0K | $1.874M | $1.874M |
| YoY Change | |||
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $10.77M | $1.984M | $1.984M |
| Total Long-Term Liabilities | $813.0K | $1.874M | $1.874M |
| Total Liabilities | $11.59M | $3.858M | $4.246M |
| YoY Change | 498.14% | 173.04% | 200.5% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$123.8M | -$121.8M | |
| YoY Change | 1.51% | ||
| Common Stock | $105.4M | $105.4M | |
| YoY Change | 1.0% | ||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $4.735M | $6.593M | $6.593M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $20.08M | $10.84M | $10.84M |
| YoY Change | -40.2% | -67.28% | -67.28% |
Cashflow Statement
| Concept | 2023 Q1 | 2022 Q4 | 2022 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$2.116M | -$700.0K | -$1.928M |
| YoY Change | 156.48% | -37.39% | -36.24% |
| Depreciation, Depletion And Amortization | |||
| YoY Change | |||
| Cash From Operating Activities | $5.826M | $2.598M | -$1.786M |
| YoY Change | -1326.53% | -408.55% | -14.05% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $0.00 | $371.0K | $1.062M |
| YoY Change | -100.0% | -118.78% | -127.24% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | -$3.997M | $508.0K | |
| YoY Change | -72.24% | ||
| Cash From Investing Activities | $0.00 | -$4.368M | -$554.0K |
| YoY Change | -100.0% | 121.16% | -73.22% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | $3.406M | 888.0K | $2.863M |
| YoY Change | -48.58% | -33.25% | |
| NET CHANGE | |||
| Cash From Operating Activities | $5.826M | 2.598M | -$1.786M |
| Cash From Investing Activities | $0.00 | -4.368M | -$554.0K |
| Cash From Financing Activities | $3.406M | 888.0K | $2.863M |
| Net Change In Cash | $9.232M | -882.0K | $523.0K |
| YoY Change | -1535.77% | -19.08% | 268.31% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | $5.826M | $2.598M | -$1.786M |
| Capital Expenditures | $0.00 | $371.0K | $1.062M |
| Free Cash Flow | $5.826M | $2.227M | -$2.848M |
| YoY Change | -1997.72% | 96.56% | -256.4% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2022 | dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
98-1664106 | |
| CY2022 | dei |
Auditor Location
AuditorLocation
|
Vancouver, Canada | |
| CY2022 | dei |
Auditor Name
AuditorName
|
MNP LLP | |
| CY2022 | dei |
Auditor Firm
AuditorFirmId
|
1930 | |
| CY2022 | us-gaap |
Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
|
0 | usd |
| CY2021 | us-gaap |
Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
|
189000 | usd |
| CY2021 | lcgmf |
Stock Issued During Period Value Stock Options And Warrants Exercised
StockIssuedDuringPeriodValueStockOptionsAndWarrantsExercised
|
323000 | usd |
| CY2021 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
27000 | usd |
| CY2021 | lcgmf |
Stock Issued During Period Value Private Placement
StockIssuedDuringPeriodValuePrivatePlacement
|
4128000 | usd |
| CY2021 | lcgmf |
Stockholder Equity Fair Value Of Warrants
StockholderEquityFairValueOfWarrants
|
0 | usd |
| CY2021 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
162000 | usd |
| CY2022 | us-gaap |
Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
|
0 | usd |
| CY2021 | us-gaap |
Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
|
189000 | usd |
| CY2022 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
0 | usd |
| CY2021 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
830000 | usd |
| CY2021Q4 | us-gaap |
Cash
Cash
|
842000 | usd |
| CY2020Q4 | us-gaap |
Cash
Cash
|
701000 | usd |
| CY2022Q4 | us-gaap |
Cash
Cash
|
1365000 | usd |
| CY2021Q4 | us-gaap |
Cash
Cash
|
842000 | usd |
| CY2021 | us-gaap |
Travel And Entertainment Expense
TravelAndEntertainmentExpense
|
87000 | usd |
| CY2021Q1 | us-gaap |
Cash
Cash
|
701000 | usd |
| CY2021Q1 | us-gaap |
Other Receivables Net Current
OtherReceivablesNetCurrent
|
3000 | usd |
| CY2021Q1 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
641000 | usd |
| CY2021Q1 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
5000 | usd |
| CY2021Q1 | us-gaap |
Assets Current
AssetsCurrent
|
1350000 | usd |
| CY2021Q1 | us-gaap |
Mineral Properties Net
MineralPropertiesNet
|
6278000 | usd |
| CY2021Q1 | us-gaap |
Restricted Investments
RestrictedInvestments
|
34000 | usd |
| CY2021Q1 | us-gaap |
Assets
Assets
|
7662000 | usd |
| CY2021Q1 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
222000 | usd |
| CY2021Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
222000 | usd |
| CY2021Q1 | us-gaap |
Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
|
51000 | usd |
| CY2021Q1 | us-gaap |
Liabilities
Liabilities
|
273000 | usd |
| CY2021Q1 | us-gaap |
Common Stock Value
CommonStockValue
|
101553000 | usd |
| CY2021Q1 | lcgmf |
Contributed Surplus
ContributedSurplus
|
0 | usd |
| CY2021Q1 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
19406000 | usd |
| CY2021Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-113570000 | usd |
| CY2021Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
7389000 | usd |
| CY2021Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
7662000 | usd |
| CY2021Q4 | us-gaap |
Cash
Cash
|
842000 | usd |
| CY2021Q4 | us-gaap |
Other Receivables Net Current
OtherReceivablesNetCurrent
|
6000 | usd |
| CY2021Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
43000 | usd |
| CY2021Q4 | us-gaap |
Assets Current
AssetsCurrent
|
891000 | usd |
| CY2021Q4 | us-gaap |
Mineral Properties Net
MineralPropertiesNet
|
6821000 | usd |
| CY2021Q4 | us-gaap |
Restricted Investments
RestrictedInvestments
|
35000 | usd |
| CY2021Q4 | us-gaap |
Assets
Assets
|
7747000 | usd |
| CY2021Q4 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
1358000 | usd |
| CY2021Q4 | us-gaap |
Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
|
55000 | usd |
| CY2021Q4 | us-gaap |
Liabilities
Liabilities
|
1413000 | usd |
| CY2021Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
104340000 | usd |
| CY2021Q4 | lcgmf |
Contributed Surplus
ContributedSurplus
|
0 | usd |
| CY2021Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
22012000 | usd |
| CY2021Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-120018000 | usd |
| CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
6334000 | usd |
| CY2021Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
7747000 | usd |
| CY2021 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
58000 | usd |
| CY2021 | us-gaap |
General Insurance Expense
GeneralInsuranceExpense
|
30000 | usd |
| CY2021 | us-gaap |
Business Development
BusinessDevelopment
|
206000 | usd |
| CY2021 | us-gaap |
Professional Fees
ProfessionalFees
|
493000 | usd |
| CY2021 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
13000 | usd |
| CY2021 | us-gaap |
Salaries And Wages
SalariesAndWages
|
938000 | usd |
| CY2021 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1077000 | usd |
| CY2021 | us-gaap |
Noninterest Expense Transfer Agent And Custodian Fees
NoninterestExpenseTransferAgentAndCustodianFees
|
108000 | usd |
| CY2021 | us-gaap |
Operating Expenses
OperatingExpenses
|
3010000 | usd |
| CY2021 | us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
-4000 | usd |
| CY2021 | lcgmf |
Mineral Exploration Expenditures
MineralExplorationExpenditures
|
3642000 | usd |
| CY2021 | us-gaap |
Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
|
189000 | usd |
| CY2021 | us-gaap |
Unrealized Gain Loss On Foreign Currency Derivatives Net Before Tax
UnrealizedGainLossOnForeignCurrencyDerivativesNetBeforeTax
|
11000 | usd |
| CY2021 | us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
8000 | usd |
| CY2021 | us-gaap |
Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
|
-3438000 | usd |
| CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-6448000 | usd |
| CY2021 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.03 | |
| CY2021 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.03 | |
| CY2021 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
239831079 | shares |
| CY2021 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
239831079 | shares |
| CY2021Q4 | us-gaap |
Minority Interest
MinorityInterest
|
0 | usd |
| CY2022 | us-gaap |
Minority Interest Period Increase Decrease
MinorityInterestPeriodIncreaseDecrease
|
500000 | usd |
| CY2022 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-112000 | usd |
| CY2022Q4 | us-gaap |
Minority Interest
MinorityInterest
|
388000 | usd |
| CY2021Q4 | us-gaap |
Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
|
0 | usd |
| CY2022 | us-gaap |
Debt Instrument Convertible Beneficial Conversion Feature
DebtInstrumentConvertibleBeneficialConversionFeature
|
131000 | usd |
| CY2022Q4 | us-gaap |
Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
|
1874000 | usd |
| CY2022Q1 | us-gaap |
Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
|
1500000 | shares |
| CY2022Q1 | us-gaap |
Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
|
119000 | usd |
| CY2021 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
4128000 | usd |
| CY2021 | lcgmf |
Number Of Common Shares Issued In Exercise Of Options And Warrants
NumberOfCommonSharesIssuedInExerciseOfOptionsAndWarrants
|
5885000 | shares |
| CY2021 | lcgmf |
Proceeds From Exercise Of Options And Warrants
ProceedsFromExerciseOfOptionsAndWarrants
|
323000 | usd |
| CY2022Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
2394283 | shares |
| CY2022Q3 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0.072 |
