2024 Q4 Form 10-Q Financial Statement

#000164033424001734 Filed on November 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $131.5K
YoY Change 61.12%
% of Gross Profit
Research & Development $34.88K
YoY Change 162.06%
% of Gross Profit
Depreciation & Amortization $1.833K $1.833K
YoY Change 0.0% 0.0%
% of Gross Profit
Operating Expenses $201.3K $168.2K
YoY Change 19.65% 73.83%
Operating Profit -$201.3K -$168.2K
YoY Change 19.65% 73.83%
Interest Expense -$22.66K
YoY Change 207.05%
% of Operating Profit
Other Income/Expense, Net -$77.82K -$3.608K
YoY Change 2056.87% -51.12%
Pretax Income -$279.1K -$171.8K
YoY Change 62.43% 64.98%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$279.1K -$171.8K
YoY Change 62.43% 64.98%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00
COMMON SHARES
Basic Shares Outstanding 117.9M shares 117.9M shares 116.3M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.273M $4.097M
YoY Change -20.1% 2.18%
Cash & Equivalents $3.196M $3.739M
Short-Term Investments $77.61K $357.6K
Other Short-Term Assets $6.950K
YoY Change -78.05%
Inventory
Prepaid Expenses $4.050K $6.945K
Receivables
Other Receivables
Total Short-Term Assets $3.278M $4.104M
YoY Change -20.14% 1.56%
LONG-TERM ASSETS
Property, Plant & Equipment $15.49K $22.82K
YoY Change -32.13% -24.32%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $15.49K $22.82K
YoY Change -32.13% -24.32%
TOTAL ASSETS
Total Short-Term Assets $3.278M $4.104M
Total Long-Term Assets $15.49K $22.82K
Total Assets $3.293M $4.127M
YoY Change -20.2% 1.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $36.17K
YoY Change 8.33%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.234M $2.328M
YoY Change -4.07% 14.55%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.234M $2.328M
Total Long-Term Liabilities $0.00
Total Liabilities $2.234M $2.328M
YoY Change -4.07% 14.55%
SHAREHOLDERS EQUITY
Retained Earnings -$9.387M -$8.547M
YoY Change 9.83% 12.52%
Common Stock $117.9K $117.1K
YoY Change 0.68% 5.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.060M $1.799M
YoY Change
Total Liabilities & Shareholders Equity $3.293M $4.127M
YoY Change -20.2% 1.36%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$279.1K -$171.8K
YoY Change 62.43% 64.98%
Depreciation, Depletion And Amortization $1.833K $1.833K
YoY Change 0.0% 0.0%
Cash From Operating Activities -$124.9K
YoY Change 15.8%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $125.0K
YoY Change 25.0%
Cash From Investing Activities $125.0K
YoY Change 25.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 79.68K
YoY Change -86.06%
NET CHANGE
Cash From Operating Activities -124.9K
Cash From Investing Activities 125.0K
Cash From Financing Activities 79.68K
Net Change In Cash 79.82K
YoY Change -85.84%
FREE CASH FLOW
Cash From Operating Activities -$124.9K
Capital Expenditures $0.00
Free Cash Flow -$124.9K
YoY Change 15.8%

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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company maintains its cash in bank deposit accounts, the balances of which at times may exceed federally insured limits. The Company continually monitors its banking relationships and consequently has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash and cash equivalents.</p>
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dei Entity File Number
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dei Entity Registrant Name
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LITHIUM CORPORATION
dei Entity Incorporation State Country Code
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NV
dei Entity Tax Identification Number
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dei Entity Address Address Line1
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dei Security12b Title
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Common Stock
dei Trading Symbol
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LTUM
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-168228 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
-488762 usd
CY2024Q3 ltum Gain Loss Change In Fair Value Of Marketable Securities Other
GainLossChangeInFairValueOfMarketableSecuritiesOther
-97448 usd
CY2023Q3 ltum Gain Loss Change In Fair Value Of Marketable Securities Other
GainLossChangeInFairValueOfMarketableSecuritiesOther
-22663 usd
ltum Gain Loss Change In Fair Value Of Marketable Securities Other
GainLossChangeInFairValueOfMarketableSecuritiesOther
-254469 usd
ltum Gain Loss Change In Fair Value Of Marketable Securities Other
GainLossChangeInFairValueOfMarketableSecuritiesOther
-174111 usd
CY2024Q3 us-gaap Other Income
OtherIncome
19628 usd
CY2023Q3 us-gaap Other Income
OtherIncome
19055 usd
us-gaap Other Income
OtherIncome
58028 usd
us-gaap Other Income
OtherIncome
56131 usd
CY2024Q3 ltum Marketables Securities Gain Loss
MarketablesSecuritiesGainLoss
0 usd
CY2023Q3 ltum Marketables Securities Gain Loss
MarketablesSecuritiesGainLoss
0 usd
ltum Marketables Securities Gain Loss
MarketablesSecuritiesGainLoss
0 usd
ltum Marketables Securities Gain Loss
MarketablesSecuritiesGainLoss
5805 usd
CY2024Q3 us-gaap Other Nonoperating Asset Related Income
OtherNonoperatingAssetRelatedIncome
0 usd
CY2023Q3 us-gaap Other Nonoperating Asset Related Income
OtherNonoperatingAssetRelatedIncome
0 usd
us-gaap Other Nonoperating Asset Related Income
OtherNonoperatingAssetRelatedIncome
0 usd
us-gaap Other Nonoperating Asset Related Income
OtherNonoperatingAssetRelatedIncome
10000 usd
CY2024Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-77820 usd
CY2023Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-3608 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-196441 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-102175 usd
CY2024Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-279108 usd
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-171836 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-812883 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-590937 usd
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-279108 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-171836 usd
us-gaap Net Income Loss
NetIncomeLoss
-812883 usd
us-gaap Net Income Loss
NetIncomeLoss
-590937 usd
CY2024Q3 ltum Other Comprehensive Income Loss Gain Loss On Change In Fair Value Of Marketable Securities
OtherComprehensiveIncomeLossGainLossOnChangeInFairValueOfMarketableSecurities
0 usd
CY2023Q3 ltum Other Comprehensive Income Loss Gain Loss On Change In Fair Value Of Marketable Securities
OtherComprehensiveIncomeLossGainLossOnChangeInFairValueOfMarketableSecurities
0 usd
ltum Other Comprehensive Income Loss Gain Loss On Change In Fair Value Of Marketable Securities
OtherComprehensiveIncomeLossGainLossOnChangeInFairValueOfMarketableSecurities
0 usd
ltum Other Comprehensive Income Loss Gain Loss On Change In Fair Value Of Marketable Securities
OtherComprehensiveIncomeLossGainLossOnChangeInFairValueOfMarketableSecurities
0 usd
CY2024Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-279108 usd
CY2023Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-171836 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-812883 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-590937 usd
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
-0.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
117892441 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
115892441 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
117892441 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
115592075 shares
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
1986053 usd
CY2023Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
235400 usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
69337 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-268176 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
2022614 usd
CY2023Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
19200 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-150925 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
1890889 usd
CY2023Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
79681 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-171836 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
1798734 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
1818258 usd
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
54392 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-322684 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
1549966 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-211091 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
1338875 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-279108 usd
CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
1059767 usd
us-gaap Profit Loss
ProfitLoss
-812883 usd
us-gaap Profit Loss
ProfitLoss
-590937 usd
ltum Marketables Securities Gain Loss
MarketablesSecuritiesGainLoss
0 usd
ltum Marketables Securities Gain Loss
MarketablesSecuritiesGainLoss
5805 usd
ltum Cash From Property Agreements
CashFromPropertyAgreements
0 usd
ltum Cash From Property Agreements
CashFromPropertyAgreements
125000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3667617 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Such estimates include the useful life of equipment and inputs related to the calculation of the fair value of stock options.  Actual results could differ from those estimates.</p>
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
3000000000 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3700000 shares
ltum Share Based Compensation Arrangement By Share Based Payment Award Options Cancelleds In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledsInPeriodGross
-100000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0.04
CY2024Q3 ltum Consulting Fees Related Party1
ConsultingFeesRelatedParty1
87000 usd
CY2023Q3 ltum Consulting Fees Related Party1
ConsultingFeesRelatedParty1
76000 usd
CY2023Q3 ltum Stock Option Compensation Expenses
StockOptionCompensationExpenses
216000 usd
CY2023Q3 ltum Rent Fees
RentFees
1500 usd

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