2023 Q4 Form 10-Q Financial Statement
#000149315223040444 Filed on November 13, 2023
Income Statement
Concept | 2023 Q4 | 2023 Q3 | 2022 Q3 |
---|---|---|---|
Revenue | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $897.9K | $642.1K | $340.8K |
YoY Change | -21.56% | 88.41% | 4600.55% |
% of Gross Profit | |||
Research & Development | $50.97K | $21.02K | $20.76K |
YoY Change | 1.25% | 717.32% | |
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $948.9K | $663.1K | $361.6K |
YoY Change | 102.06% | 83.4% | 3589.29% |
Operating Profit | |||
YoY Change | |||
Interest Expense | $113.8K | $8.082K | $1.623K |
YoY Change | 53.7% | 397.97% | -101.5% |
% of Operating Profit | |||
Other Income/Expense, Net | $0.00 | -$12.13K | -$396.1K |
YoY Change | -100.0% | -96.94% | |
Pretax Income | -$835.1K | -$675.2K | -$795.7K |
YoY Change | 100.02% | -15.14% | 572.93% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$835.1K | -$675.2K | -$795.7K |
YoY Change | 100.02% | -15.14% | 572.93% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | -$0.07 | -$0.30 | |
Diluted Earnings Per Share | -$0.03 | -$0.07 | -$296.9K |
COMMON SHARES | |||
Basic Shares Outstanding | 24.62M shares | 11.63M shares | 8.685M shares |
Diluted Shares Outstanding | 9.109M shares | 2.680M shares |
Balance Sheet
Concept | 2023 Q4 | 2023 Q3 | 2022 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $9.744M | $9.983M | $1.298M |
YoY Change | 867.65% | 669.03% | 30.74% |
Cash & Equivalents | $9.744M | $4.681M | $1.298M |
Short-Term Investments | |||
Other Short-Term Assets | $541.0K | $5.302M | $92.37K |
YoY Change | 11101.45% | 5639.72% | 2410.05% |
Inventory | |||
Prepaid Expenses | $541.0K | $473.4K | $92.37K |
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $10.29M | $10.46M | $1.391M |
YoY Change | 916.5% | 651.98% | 39.53% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $836.5K | $802.0K | $738.8K |
YoY Change | -4.64% | 8.56% | 40.53% |
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $836.5K | $802.0K | $738.8K |
YoY Change | -4.64% | 8.56% | 40.53% |
TOTAL ASSETS | |||
Total Short-Term Assets | $10.29M | $10.46M | $1.391M |
Total Long-Term Assets | $836.5K | $802.0K | $738.8K |
Total Assets | $11.12M | $11.26M | $2.129M |
YoY Change | 488.76% | 428.74% | 39.87% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $846.3K | $812.7K | $810.2K |
YoY Change | 5.44% | 0.32% | 109.56% |
Accrued Expenses | $5.700K | ||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $1.066M |
YoY Change | -100.0% | -100.0% | 6490.6% |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $1.306M | $1.273M | $2.353M |
YoY Change | -1.19% | -45.91% | 60.61% |
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 | $1.306M | $1.273M | $2.353M |
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
Total Liabilities | $1.306M | $1.273M | $2.353M |
YoY Change | -1.19% | -45.91% | 60.61% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$5.162M | -$4.327M | -$2.090M |
YoY Change | 105.88% | 107.05% | |
Common Stock | $2.523K | $1.758K | $868.00 |
YoY Change | 127.91% | 102.53% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $9.816M | $9.986M | -$223.6K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $11.12M | $11.26M | $2.129M |
YoY Change | 488.76% | 428.74% | 39.87% |
Cashflow Statement
Concept | 2023 Q4 | 2023 Q3 | 2022 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$835.1K | -$675.2K | -$795.7K |
YoY Change | 100.02% | -15.14% | 572.93% |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$539.8K | -$397.9K | -$125.9K |
YoY Change | 423.37% | 216.05% | 1920.71% |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | -$40.00K | $0.00 |
YoY Change | -100.0% | ||
Cash From Investing Activities | $0.00 | -$40.00K | $0.00 |
YoY Change | -100.0% | ||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 301.0K | 9.642M | 0.000 |
YoY Change | -303.34% | -100.0% | |
NET CHANGE | |||
Cash From Operating Activities | -539.8K | -397.9K | -125.9K |
Cash From Investing Activities | 0.000 | -40.00K | 0.000 |
Cash From Financing Activities | 301.0K | 9.642M | 0.000 |
Net Change In Cash | -238.8K | 9.204M | -125.9K |
YoY Change | -17.98% | -7411.12% | -187.56% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$539.8K | -$397.9K | -$125.9K |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
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OperatingExpenses
|
1726574 | usd | |
us-gaap |
Operating Expenses
OperatingExpenses
|
818340 | usd | |
CY2022Q3 | us-gaap |
Other Nonoperating Expense
OtherNonoperatingExpense
|
1623 | usd |
us-gaap |
Other Nonoperating Expense
OtherNonoperatingExpense
|
1623 | usd | |
CY2022Q3 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
396143 | usd |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
697535 | usd | |
CY2023Q3 | us-gaap |
Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
|
-20206 | usd |
CY2022Q3 | us-gaap |
Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
|
-40737 | usd |
us-gaap |
Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
|
-115168 | usd | |
us-gaap |
Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
|
163113 | usd | |
CY2023Q3 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-4 | usd |
CY2022Q3 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-15 | usd |
us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-982 | usd | |
CY2023Q3 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
8082 | usd |
CY2022Q3 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
4397 | usd |
us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
21895 | usd | |
us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
5285 | usd | |
us-gaap |
Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
|
211530 | usd | |
CY2023Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-12128 | usd |
CY2022Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-434121 | usd |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-93273 | usd | |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-320212 | usd | |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-675228 | usd |
CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-795671 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-1819847 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-1138552 | usd | |
CY2023Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.07 | |
CY2023Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.07 | |
CY2022Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.30 | |
CY2022Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.30 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.23 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.23 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.42 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.42 | ||
CY2023Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
9109468 | shares |
CY2023Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
9109468 | shares |
CY2022Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
2680093 | shares |
CY2022Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
2680093 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
7759985 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
7759985 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
2680093 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
2680093 | shares | |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
239944 | usd |
CY2022Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
44774 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
436387 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
721105 | usd |
CY2022Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
313417 | usd |
CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-779268 | usd |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
255254 | usd |
CY2022Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
316862 | usd |
CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-795671 | usd |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-223555 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
567053 | usd |
CY2023Q1 | NGLD |
Stock Based Compensation Obligation To Issue Shares For Consultants
StockBasedCompensationObligationToIssueSharesForConsultants
|
38889 | usd |
CY2023Q1 | NGLD |
Stock Based Compensation Obligation To Issue Shares For Officer
StockBasedCompensationObligationToIssueSharesForOfficer
|
58333 | usd |
CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
243733 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-475074 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
432934 | usd |
CY2023Q2 | NGLD |
Stock Based Compensation Obligation To Issue Shares For Consultants
StockBasedCompensationObligationToIssueSharesForConsultants
|
116667 | usd |
CY2023Q2 | NGLD |
Stock Based Compensation Obligation To Issue Shares For Officer
StockBasedCompensationObligationToIssueSharesForOfficer
|
175000 | usd |
CY2023Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
246440 | usd |
CY2023Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-669545 | usd |
CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
301496 | usd |
CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
301496 | usd |
CY2023Q3 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
4429808 | usd |
CY2023Q3 | us-gaap |
Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
|
5569667 | usd |
CY2023Q3 | us-gaap |
Adjustments To Additional Paid In Capital Stock Issued Ownshare Lending Arrangement Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedOwnshareLendingArrangementIssuanceCosts
|
-182236 | usd |
CY2023Q3 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
1500 | usd |
CY2023Q3 | NGLD |
Stock Based Compensation Obligation To Issue Shares For Consultants
StockBasedCompensationObligationToIssueSharesForConsultants
|
116667 | usd |
CY2023Q3 | NGLD |
Stock Based Compensation Obligation To Issue Shares For Officer
StockBasedCompensationObligationToIssueSharesForOfficer
|
175000 | usd |
CY2023Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
249149 | usd |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-675228 | usd |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-675228 | usd |
CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
9985823 | usd |
CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
9985823 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-1819847 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-1138552 | usd | |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
697535 | usd | |
us-gaap |
Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
|
-115168 | usd | |
us-gaap |
Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
|
163113 | usd | |
NGLD |
Foreign Currency Transaction Gain Loss
ForeignCurrencyTransactionGainLoss
|
-982 | usd | |
us-gaap |
Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
|
211530 | usd | |
NGLD |
Stockbased Compensation Directors And Ceo
StockbasedCompensationDirectorsAndCeo
|
739322 | usd | |
NGLD |
Stockbased Compensation Directors And Ceo
StockbasedCompensationDirectorsAndCeo
|
675053 | usd | |
NGLD |
Stockbased Compensation Issued To Consultants
StockbasedCompensationIssuedToConsultants
|
272223 | usd | |
NGLD |
Stockbased Compensation Issued To Officer
StockbasedCompensationIssuedToOfficer
|
408333 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
291651 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
70566 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-12220 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-26122 | usd | |
us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
-63473 | usd | |
us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
-17031 | usd | |
us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
-27000 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-605703 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-326786 | usd | |
us-gaap |
Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
|
614658 | usd | |
us-gaap |
Payments To Acquire Mineral Rights
PaymentsToAcquireMineralRights
|
60000 | usd | |
us-gaap |
Payments To Acquire Mineral Rights
PaymentsToAcquireMineralRights
|
410000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-60000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
204658 | usd | |
us-gaap |
Proceeds From Other Equity
ProceedsFromOtherEquity
|
4429808 | usd | |
us-gaap |
Proceeds From Other Equity
ProceedsFromOtherEquity
|
400 | usd | |
us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
182236 | usd | |
NGLD |
Proceeds From Escrowed Cash Recieved On Subscription To Shares
ProceedsFromEscrowedCashRecievedOnSubscriptionToShares
|
5569667 | usd | |
NGLD |
Payments Of Stock Issuance Cash Costs On Shares To Be Issued
PaymentsOfStockIssuanceCashCostsOnSharesToBeIssued
|
176885 | usd | |
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
1500 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
9641854 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
400 | usd | |
us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
-982 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
8976151 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-122710 | usd | |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
1007018 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
1420864 | usd |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
9983169 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
1298154 | usd |
NGLD |
Mineral Interests Acquired With Related Parties Payables Net
MineralInterestsAcquiredWithRelatedPartiesPayablesNet
|
40000 | usd | |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_806_eus-gaap--NatureOfOperations_zApxkqHylpw" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 - <span id="xdx_820_zmp0Sk5sFfgg">NATURE OF BUSINESS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nevada Canyon Gold Corp. (the “Company”) was incorporated under the laws of the state of <span id="xdx_903_edei--EntityIncorporationStateCountryCode_c20230101__20230930_z3S7FF9e3nC" title="State of incorporation">Nevada</span> on <span id="xdx_909_edei--EntityIncorporationDateOfIncorporation_dd_c20230101__20230930_zsrjCYPy7jh8" title="Date of incorporation">February 27, 2014</span>. On July 6, 2016, the Company changed its name from Tech Foundry Ventures, Inc. to Nevada Canyon Gold Corp. On December 15, 2021, the Company incorporated two subsidiaries, Nevada Canyon LLC and Canyon Carbon LLC. Both subsidiaries were incorporated under the laws of the state of Nevada. The Company is involved in acquiring and exploring mineral properties and royalty interests in Nevada and Idaho.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s condensed consolidated financial statements are prepared using accounting principles generally accepted in the United States of America (“US GAAP”) applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company is in the business of acquiring and exploring mineral properties and royalty interests and has not generated or realized any revenues from these business operations. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of September 30, 2023, the Company’s management has assessed the Company’s ability to continue as a going concern. Management’s assessment is based on various factors, including historical and projected financial performance, liquidity, and other relevant circumstances. As of the date of these condensed consolidated financial statements, the Company has sufficient cash including escrowed cash to meet its working capital requirements and fund its exploration programs and general day-to-day operations for at least the next 12 months. This assessment takes into account the Company’s current cash balances as a result of the sale of the Company’s common shares under offering statement on Form 1-A (the “Offering”), and expected future cash inflows from the Offering and future financing the management is planning to undertake.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While the Company believes it has the financial resources to continue its operations for the next 12 months, it is important to note that there are inherent uncertainties in projecting future cash flows, and there can be no assurance that these projections will be realized. The Company continues to closely monitor its financial position, market conditions, and other factors that may impact its ability to continue as a going concern. Management’s assessment is based on the information available as of the date of this report. If unforeseen events, adverse market conditions, or other factors negatively affect the Company’s financial position in the future, there may be a need to adjust the going concern assessment. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. In the event that the Company’s ability to continue as a going concern becomes doubtful, adjustments to the carrying values of assets and liabilities, as well as additional disclosures, would be necessary.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In prior reporting periods, the Company concluded that substantial doubt regarding its ability to continue as a going concern existed. The cash received from sale of its common stock in the three month period ended September 30, 2023 (Note 7), alleviated the substantial doubt.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
NV | ||
dei |
Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
|
2014-02-27 | ||
CY2023Q3 | us-gaap |
Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
|
424149 | usd |
CY2022Q3 | us-gaap |
Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
|
316862 | usd |
us-gaap |
Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
|
1147655 | usd | |
us-gaap |
Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
|
675053 | usd | |
CY2023Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2023Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
CY2023Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2023Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
us-gaap |
Common Stock Voting Rights
CommonStockVotingRights
|
Voting rights are not cumulative and, therefore, the holders of more than 50% of the common stock could, if they chose to do so, elect all of the directors of the Company. | ||
CY2023Q3 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
1.20 | |
CY2023Q3 | us-gaap |
Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
|
P24M | |
CY2023Q3 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
540816 | usd |
CY2022Q3 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
316862 | usd |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1419878 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
676053 | usd | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
|
5537260 | shares | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodIntrinsicValue
|
1.20 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Other
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOther
|
55373 | shares | |
NGLD |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Warrants Issued In Period Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWarrantsIssuedInPeriodIntrinsicValue
|
1.20 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
|
1250 | shares | |
NGLD |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercised In Period Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisedInPeriodIntrinsicValue
|
1.20 | ||
CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
|
5591383 | shares |
CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedIntrinsicValue
|
1.20 | |
CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
|
5591383 | shares |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
|
P1Y11M15D | ||
CY2021 | us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
980000 | usd |
CY2021Q4 | us-gaap |
Convertible Debt
ConvertibleDebt
|
15064 | usd |
CY2021 | us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
20000 | usd |
CY2021Q4 | us-gaap |
Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
|
0.15 | pure |
CY2022Q3 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
396143 | usd |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
697535 | usd | |
CY2023Q3 | us-gaap |
Prepaid Advertising
PrepaidAdvertising
|
280978 | usd |
CY2022Q4 | us-gaap |
Prepaid Advertising
PrepaidAdvertising
|
367 | usd |
CY2023Q3 | NGLD |
Prepaid Deferred Share Issuance Costs
PrepaidDeferredShareIssuanceCosts
|
176885 | usd |
CY2023Q3 | NGLD |
Prepaid Conference Fees
PrepaidConferenceFees
|
9950 | usd |
CY2023Q3 | us-gaap |
Prepaid Taxes
PrepaidTaxes
|
3177 | usd |
CY2022Q4 | us-gaap |
Prepaid Taxes
PrepaidTaxes
|
1462 | usd |
CY2023Q3 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
2375 | usd |
CY2022Q4 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
3000 | usd |
CY2023Q3 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
473365 | usd |
CY2022Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
4829 | usd |