$LSMG
Lode-Star Mining Inc.

2023 Q1 Form 10-K Financial Statement

#000119983523000172 Filed on March 24, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.160K $11.85K $155.2K
YoY Change -81.6% -74.16% -24.6%
% of Gross Profit
Research & Development $270.00
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $6.160K $12.12K $0.00
YoY Change -81.6% -73.57% -100.0%
Operating Profit -$6.155K -$155.5K
YoY Change -81.62% -49.72%
Interest Expense $0.00 $2.000K -$470.00
YoY Change -100.0% -438.98% -99.36%
% of Operating Profit
Other Income/Expense, Net $2.186M
YoY Change -199.98%
Pretax Income -$6.160K -$10.12K $2.031M
YoY Change -81.84% -99.55% -179.05%
Income Tax
% Of Pretax Income
Net Earnings -$6.155K -$10.12K $2.031M
YoY Change -81.85% -99.55% -179.05%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $0.00 $0.00 $0.02
COMMON SHARES
Basic Shares Outstanding 120.9M shares 120.9M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.77K $890.00 $890.00
YoY Change 935.58% -85.19% -85.19%
Cash & Equivalents $10.77K $886.00
Short-Term Investments
Other Short-Term Assets $0.00 $0.00
YoY Change -100.0% -100.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $10.77K $886.00 $890.00
YoY Change 721.91% -85.89% -85.83%
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 $0.00 $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $10.77K $886.00 $890.00
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $10.77K $886.00 $890.00
YoY Change 721.91% -85.89% -85.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.250K $7.260K $7.260K
YoY Change -99.39% -96.19% -96.19%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $42.19K $20.14K $20.14K
YoY Change -26.51% -51.43% -51.43%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $43.43K $27.40K $27.40K
YoY Change -83.35% -88.18% -88.18%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $43.43K $27.40K $27.40K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $43.43K $27.40K $27.40K
YoY Change -83.35% -88.18% -88.18%
SHAREHOLDERS EQUITY
Retained Earnings -$4.269M -$4.263M
YoY Change 5.32%
Common Stock $4.237M $4.237M
YoY Change 159.04%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$32.67K -$26.51K -$26.51K
YoY Change
Total Liabilities & Shareholders Equity $10.77K $886.00 $890.00
YoY Change 721.91% -85.89% -85.83%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$6.155K -$10.12K $2.031M
YoY Change -81.85% -99.55% -179.05%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $9.881K -$40.49K -$101.6K
YoY Change -166.01% 110.56% 34.43%
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 $22.05K 37.16K $96.48K
YoY Change 120.5% 166.57% 39.94%
NET CHANGE
Cash From Operating Activities $9.881K -40.49K -$101.6K
Cash From Investing Activities
Cash From Financing Activities $22.05K 37.16K $96.48K
Net Change In Cash $9.881K -3.330K -$5.122K
YoY Change -298.81% -37.05% -22.86%
FREE CASH FLOW
Cash From Operating Activities $9.881K -$40.49K -$101.6K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p id="xdx_84C_eus-gaap--NatureOfOperations_zNv5PZBwv1Cl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_zMEF1M2DASc1">Organization</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><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 0 0pt 0.3in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lode-Star Mining Inc. (“the Company”) was incorporated in the State of Nevada, U.S.A., on December 9, 2004. The Company’s principal executive offices are located in Reno, Nevada. The Company was originally formed for the purpose of acquiring exploration stage natural resource properties. The Company acquired a mineral property interest from Lode-Star Gold Inc., a private Nevada corporation (“LSG”) on December 11, 2014, in consideration for the issuance of 35,000,000 common shares of the Company. As a result of this transaction, control of the Company was acquired by LSG.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; 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 0 0pt 0.3in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to a Purchase Agreement and Royalty Agreement (the “Sapir Agreements”), on December 28, 2021, the Company acquired from Sapir Pharmaceuticals, Inc., a Delaware company (“Sapir”), all of the assets used in connection with the proprietary stabilized formulation of the Epigallocatechin-gallate (EGCG) molecule for further pharmaceutical development (the “Assets”). The consideration for these Assets is <span id="xdx_905_eus-gaap--BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_c20211228__20211228__us-gaap--BusinessAcquisitionAxis__custom--SapirPharmaceuticalsIncMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zxLhOXnEXiZg">1,000,000</span> shares of Series A Convertible Preferred Stock where each preferred share is convertible into <span id="xdx_90E_eus-gaap--PreferredStockConvertibleConversionRatio_iI_c20211228__us-gaap--BusinessAcquisitionAxis__custom--SapirPharmaceuticalsIncMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_z50ngf93Of0i">450</span> shares of common stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; background-color: white"><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 0 0pt 0.3in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due to circumstances beyond the control of both parties, the Company was unable to develop the Assets. As a result, on June 6, 2022, the Company entered into a rescission agreement with Sapir (the “Rescission Agreement”) in order to rescind the Sapir Agreements and restore both the Company and Sapir to the respective positions we occupied immediately in advance of the execution and delivery of the Sapir Agreements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; background-color: white"><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 0 0pt 0.3in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of the date of the Rescission Agreement, the Company did not issue the Preferred Stock to Sapir or execute any payments to Sapir under the Royalty Agreement. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; background-color: white"><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 0 0pt 0.3in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a result of the rescission, we entered into a debt reinstatement agreement (the “Reinstatement Agreement”) with LSG pursuant to which we agreed to reinstate the $<span id="xdx_903_ecustom--ReinstatedDebt_iN_di_c20220101__20221231_zmWo8CZIBF83">2,246,145</span> in debt to LSG that was previously written off in accordance with the settlement and termination agreement in order to facilitate the Sapir transaction<i>.</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; color: red"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022 lsmg Reinstated Debt
ReinstatedDebt
-2246145 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-4263323 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84C_eus-gaap--UseOfEstimates_zf9kCKjPK7Hi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.15in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.15in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">f)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_863_zJoM6JzngP1i">Use of Estimates and Assumptions</span></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><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 0 0pt 0.3in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying disclosures.  By their nature, these estimates are subject to measurement uncertainty and the effect on the financial statements of changes in such estimates in future periods could be significant.  Significant areas requiring management’s estimates and assumptions are determining the fair value of transactions involving related parties and common stock, fair value of assets acquired with non-monetary consideration, evaluating impairment of mineral property interest and calculating stock-based compensation.  Actual results may differ from the estimates.</span></p>
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
480000000 shares
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2022 lsmg Reinstated Debt
ReinstatedDebt
-2246145 usd
CY2021 lsmg Settlement Of Shareholder Debt
SettlementOfShareholderDebt
2015966 usd
CY2022Q2 lsmg Shares Issued To Shareholder To Settle Debt
SharesIssuedToShareholderToSettleDebt
2601207 usd
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
120937442 shares
CY2022 lsmg Disclosure Capital Stock Details Abstract
DisclosureCapitalStockDetailsAbstract
<table cellpadding="0" cellspacing="0" id="xdx_887_ecustom--DisclosureCapitalStockDetailsAbstract_zajKir2PtNl4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin-left: 0.6in" summary="xdx: Disclosure - CAPITAL STOCK (Details)"> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; text-align: center"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Options <br/>Outstanding</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Weighted Average<br/> Life Remaining<br/> (Years)</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid"> </td> <td colspan="2" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Intrinsic<br/> Value</td><td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; text-align: center"> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="white-space: nowrap; text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 41%; padding-left: 5.4pt">Balance December 31, 2020</td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20210101__20211231__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_zLbCuRKJezVh" style="width: 8%; text-align: right">10,000,000</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"> </td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_c20210101__20211231__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_z9oxT2g0lnDb" style="width: 8%; text-align: right">800,000</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 5.4pt">Exercised</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di_c20210101__20211231__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_zOTfXE6hfzB8" style="border-bottom: Black 1pt solid; text-align: right">(50,000</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt; padding-left: 5.4pt">Balance December 31, 2021</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20210101__20211231__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_zP6bC5CbSg3d" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">9,950,000</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_986_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dxH_c20210101__20211231__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_zKcxsldbuBlf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="::XDX::P2M12D">0.20</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_c20210101__20211231__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_zgMCVCKbN3W9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">348,250</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">Issued</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="white-space: nowrap; font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">Cancelled</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20220101__20221231__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_zjFmauYIPc72" style="text-align: right">(450,000</td><td style="white-space: nowrap; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 5.4pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di_c20220101__20221231__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_zk98LcLl2ZIe" style="border-bottom: Black 1pt solid; text-align: right">(9,500,000</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt; padding-left: 5.4pt">Balance December 31, 2022</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_d0_c20220101__20221231__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_ze29gOQMxEj7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Nil</b></span></td><td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table>
CY2021 lsmg Settlement Of Shareholder Debt
SettlementOfShareholderDebt
2015966 usd
CY2022 lsmg Shares Issued To Shareholder To Settle Debt
SharesIssuedToShareholderToSettleDebt
2601207 usd
CY2022 lsmg Disclosure Income Taxes Details Abstract
DisclosureIncomeTaxesDetailsAbstract
<table cellpadding="0" cellspacing="0" id="xdx_887_ecustom--DisclosureIncomeTaxesDetailsAbstract_zgSJTlneBhTf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%; margin-left: 0.45in" summary="xdx: Disclosure - INCOME TAXES (Details)"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20220101__20221231_zLDUCsE3j168" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20210101__20211231_ztopIJt3gXA4" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2021</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_401_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_maITEBztxS_zXk9MN007pod" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left">Expected income tax (expense) recovery</td><td style="width: 3%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 8%; font-weight: bold; text-align: right">(426,500</td><td style="white-space: nowrap; width: 1%; font-weight: bold; text-align: left">)</td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">539,500</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--IncomeTaxReconciliationNondeductibleExpense_maITEBztxS_zBeYqcHEX1lc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Adjustment for non-deductible amounts</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">459,200</td><td style="white-space: nowrap; font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">241,400</td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maITEBztxS_z2NykZylKy9h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Increase in valuation allowance</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(32,700</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(780,900</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBztxS_zZTmJYdPmpui" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="display: none">Income Tax Benefit, Net</span></td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0424">-</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0425">-</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-426500 usd
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
539500 usd
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
459200 usd
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
241400 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-32700 usd
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-780900 usd
CY2022 lsmg Disclosure Income Taxes Details2 Abstract
DisclosureIncomeTaxesDetails2Abstract
<table cellpadding="0" cellspacing="0" id="xdx_882_ecustom--DisclosureIncomeTaxesDetails2Abstract_ztuLlPWvFkI2" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%; margin-left: 0.45in" summary="xdx: Disclosure - INCOME TAXES (Details 2)"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20221231_zkmMO8ISMnC2" style="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20211231_zuKWXfDo9j28" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">2021</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsNetAbstract_iB_zBssNqt80UW6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred income tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="white-space: nowrap; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_i01I_maDTALNzGU3_zyaRZnfQCZda" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 44%; text-align: left">Net operating losses carried forward</td><td style="width: 3%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 8%; font-weight: bold; text-align: right">663,300</td><td style="white-space: nowrap; width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">630,600</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsValuationAllowance_i01NI_di_msDTALNzGU3_zgpmreMHtDjk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Valuation allowance</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(663,300</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(630,600</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsLiabilitiesNet_i01TI_mtDTALNzGU3_zkQ2dFxXIB76" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="display: none">Deferred Income Tax, Net</span></td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0440">-</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0441">-</span></td><td style="white-space: nowrap; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
663300 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
630600 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
663300 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
630600 usd

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