Thu, Aug 29, 7:30 PM (138 days ago)
NAMI Corp. reported a net loss of $366,641 for Q2 2022, a 32% decrease from $540,979 in Q2 2021, attributed to reduced operating expenses, particularly in professional fees and exploration costs. The company's total revenue remained at $0 for both periods. Operating expenses dropped to $123,934, a 62% reduction year-over-year. For the six months ended December 31, 2022, the net loss was $710,631, down 46% from $1,306,822 in the prior year. The working capital deficit increased to $7.2 million, driven by rising current liabilities due to ongoing operating losses and increased debt levels. Cash flow from operating activities improved significantly, decreasing to $179,552 from $701,282, while cash from financing activities totaled $191,115, mainly from project financing advances. The report notes a going concern risk, highlighting the need for additional financing to meet obligations and commence mining operations. The company has not generated revenue and relies heavily on related party funding, raising concerns about its financial sustainability moving forward.