Tue, May 14, 2:43 PM (220 days ago)
Thunder Mountain Gold, Inc. reported its financial results for the quarter ended March 31, 2024. The company recorded a net loss of $205,560, an improvement from the previous year's loss of $359,830. The decrease in net loss is attributed to reduced operating expenses and other expenses. Total operating expenses for the quarter were $162,834, down from $213,132 in the prior year, primarily due to lower legal and administrative costs. The company also reported a loss on the sale of its investment in BeMetals Corp., totaling $42,855. The balance sheet shows a decrease in total assets from $986,388 at the end of December 2023 to $760,282 at the end of March 2024. This decline is partly due to the sale of the investment in BeMetals. Current liabilities have slightly decreased to $1,281,958 from $1,298,972 over the same period. Cash and cash equivalents increased to $355,438 from $170,628, mainly due to proceeds from the sale of investments. The company faces substantial doubt about its ability to continue as a going concern, with an accumulated deficit of $7,374,168. Management is actively seeking additional funds through various means to ensure viability. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.