Nothing in the S1 mentions any proceeds from any private placements other than a private placement by the company of 2400 shares for .0001 on june 14 ,2014. "On June 30, 2014, the Company issued 2,400 shares with par value of $0.0001 per share for proceeds of $2,129."
This company is BROKE,
The accompanying unaudited condensed consolidated financial statements of the Company have been prepared on a basis that assumes the Company will continue as a going concern. As of September 30, 2014, the Company had a deficit accumulated during exploration stage of $447,281 and has incurred significant operating losses and negative cash flows. For the nine months ended September 30, 2014, the Company sustained a net loss of $134,302 compared to a net loss of $61,175 for the nine months ended September 30, 2013.
We have not yet recognized revenues from our operations. The Company will need additional financing which may take the form of equity or debt. In the event the Company is not able to increase its working capital, the Company will not be able to implement or may be required to delay all or part of its business plan, and their ability to attain profitable operations, generate positive cash flows from operating and investing activities and materially expand the business will be materially adversely affected. The accompanying unaudited condensed consolidated financial statements do not include any adjustments relating to the classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the company be unable to continue in existence.
As mentioned earlier, to date we have paid, by cash or promissory note, approximately CAD31,000 to acquire (and in some cases re-acquire) our mining claims, and we expect to pay at least an additional CAD198,000 in the aggregate on mandated exploration costs with respect to our 165 current mining claims that we intend to explore. We expect our material commitments for capital expenditures in the foreseeable future to relate to securing and maintaining mining claims, and the exploration of our mining properties. Beyond the commitments mentioned above, we will not know the extent of our future material commitments until our exploration team is engaged and develops our business plan.
