10-K - Golden Star Resource Corp. (0001375348) (Filer)

Wed, Sep 25, 1:34 PM (17 days ago)

Golden Star Resource Corp. remains in an exploration stage, with no revenues generated since inception. For the year ended June 30, 2024, the company reported a net loss of $47,628, slightly higher than the previous year's loss of $46,221. Operating expenses totaled $47,628, primarily due to professional fees and office expenses. The company has a working capital deficit of $819,041 and a cumulative deficit of $926,101 since its formation. As of June 30, 2024, total assets were $2,813, with liabilities of $821,854, including $405,546 due to related parties. The company has not engaged in significant exploration activities due to funding constraints and does not anticipate generating revenues until mineral extraction begins. The stock has limited trading activity, with a market value of $1,070,000 as of June 30, 2024. Future operations depend heavily on securing additional capital. The management plans to raise funds through equity financing, but uncertainties regarding market conditions and financing availability pose significant risks. The company's financial condition raises substantial doubt about its ability to continue as a going concern.