Tue, May 13, 8:44 PM (30 days ago)
**Patriot Gold Corp. (PGOL) Q1 2025 Financial Summary** Patriot Gold Corp. (PGOL) reported a challenging first quarter of 2025, with significant financial and operational uncertainties. Here are the key points: **Financial Performance:** - **Revenue:** $0 vs. $361,523 in Q1 2024, due to the suspension of royalty payments from the Moss Mine. - **Net Loss:** $400,106 vs. $367,108 in Q1 2024, primarily due to the decrease in royalty revenue. - **Operating Expenses:** $413,492 vs. $749,908 in Q1 2024, with decreases in mineral costs and consulting expenses. - **Cash Flow:** Negative $115,940 used in operations vs. negative $435,438 in Q1 2024. **Financial Health:** - **Cash:** $285,815 vs. $401,207 at the end of Q1 2024. - **Total Assets:** $404,584 vs. $531,035 at the end of Q1 2024. - **Total Liabilities:** $1,011,411 vs. $738,305 at the end of Q1 2024. **Uncertainties and Future Operations:** - **Royalty Dispute:** Patriot is involved in a legal dispute with Golden Vertex regarding outstanding royalty payments from the Moss Mine, which has led to no revenue recognition for the quarter. - **Liquidity Concerns:** The company anticipates needing approximately $1,000,000 to fund operations for the next twelve months and is evaluating strategies to obtain additional funding. - **Exploration and Development:** Patriot continues to explore and develop its properties in Nevada, with a temporary pause in drilling and exploration expenditures on the Windy Peak project. **Trends and Outlook:** - Patriot Gold Corp. faces significant challenges due to the royalty dispute and liquidity concerns. The company's ability to continue as a going concern depends on its ability to secure additional funding and resolve the royalty dispute. - The company's focus remains on acquiring, exploring, and developing natural resource properties, with a particular emphasis on its holdings in Nevada.