Thu, Aug 29, 7:31 PM (312 days ago)
NAMI Corp's Q3 2023 report reveals ongoing financial challenges, with a net loss of $154,206, a significant improvement from a loss of $758,642 in Q3 2022. The company reported no revenue, maintaining a gross loss of $0. Operating expenses decreased by 85% to $33,765, primarily due to reduced exploration and administrative costs. Year-to-date, the net loss is $864,837, down 58% from $2,065,464 in the prior year. Current liabilities rose to $7.37 million, contributing to a working capital deficit of $7.34 million, indicating liquidity concerns. Cash and cash equivalents dwindled to $1,538, down 79% from the previous year. The company emphasizes the need for additional capital to sustain operations and fulfill obligations, raising substantial doubt about its ability to continue as a going concern. Future operations hinge on securing financing and commencing mining activities, with expectations of increased expenses if operations begin. Management acknowledges the impact of external factors like the Russia-Ukraine conflict on operational viability.