Mon, Jul 1, 10:29 AM (68 days ago)
Minerva Gold Inc. reported a net loss of $13,398 for the quarter ended May 31, 2024, compared to a net loss of $11,593 for the same period in 2023. The company has no revenue and its operating expenses increased from $11,593 to $13,398 year-over-year. As of May 31, 2024, Minerva Gold Inc. had no cash or cash equivalents, with total liabilities rising to $47,050 from $33,710 as of February 29, 2024. The company's stockholders' equity (deficit) worsened, reaching negative $47,050. The company remains reliant on loans from related parties for financing. The financial statements raise substantial doubt about the company's ability to continue as a going concern due to its ongoing losses and lack of revenue. Management plans to secure additional capital through equity or debt financing to support operations.