A 6 year history of 10K statements of loss, revenue and other fascinating things to ponder.
2013
We had a net loss during the year ended March 31, 2013 of $4,333,436 compared to a net loss of 1,511,932 during the same period in 2012. We had a cumulative net loss of $8,636,725 for the period from September 18, 2009 through March 31, 2013.
2014
We had a net loss during the year ended March 31, 2014 of $6,993,406 compared to a net loss of $4,333,436 during the same period in 2013. We had a cumulative net loss of $15,630,131 for the period from September 18, 2009
2015
We had a net loss during the year ended March 31, 2015 of $947,856 compared to a net loss of $6,993,406 during the same period in 2014
2016
Year Ended March 31, 2016 Compared with the Year Ended March 31, 2015
We had a net loss during the year ended March 31, 2016 of $2,177,577 compared to a net loss of $947,856 during the same period in 2015.
2017
Year Ended March 31, 2017 Compared with the Year Ended March 31,2016
We had a net loss during the year ended March 31, 2017 of $3,806,697 compared to a net loss of $2,177,577 during the same period in 2016.
Revenue
2018
We had a net loss during the nine months ended December 31, 2018 of $1,664,951 compared to a net loss of $2,906,769 during the same period in 2017. The decrease in net loss is primarily attributable to (i) a decrease in general and administrative expense of $98,549 (ii) a decrease in stock-based expense – consulting services of $847,249 (iii) a decrease in loss on settlement of accounts payable of $252,000 (iv) a decrease in impairment of mineral property of $75,000 (v) an increase in the gain on settlement of debt of $157,991 and (vi) an increase in the gain on change in fair value of derivative instrument of $153,177. The decrease in net loss is partially offset by an increase in exploration expenses of $89,719 and an increase in interest expense of $271,721.
Revenue
For the nine months ended December 31, 2018, we had revenues of $0 compared to $0 for the nine months ended December 31, 2017.
Liquidity and Capital Resources
At December 31, 2018, we had cash of $5,033 compared to cash of $125,942 at March 31, 2018.
