Mon, Jan 13, 7:45 PM (28 days ago)
Enertopia Corporation (OTC: ENRT) reported its financial results for the quarter ending November 30, 2024. The company continues to face significant financial challenges, with a net loss of $83,130, a notable decrease from a loss of $409,748 in the same quarter of 2023. This improvement is attributed to reduced expenses across various categories, including exploration and research and development, as well as cost containment measures. Total assets declined to $218,873 from $342,630, primarily due to decreased cash and cash equivalents, which stood at $152,768. Current liabilities also decreased, resulting in a working capital deficit of $67,032. Cash flows used in operating activities were $103,072, a decrease from $229,950 year-over-year, while cash flows from investing activities were $75,947. The company's ongoing operations are heavily reliant on securing additional financing due to cumulative losses totaling $15,608,047, raising substantial doubt about its ability to continue as a going concern. Enertopia is pursuing various financing alternatives to meet its operational and developmental needs, but uncertainties persist regarding future funding availability.