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Patriot Gold Corp Audited Year End Results

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JonnyRBuck12   Friday, 04/16/21 11:27:12 AM
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Patriot Gold Corp Audited Year End Results

Link: https://www.otcmarkets.com/filing/html?id=14870454&guid=x9jpUKCL2qz9Mth

Ticker Symbols: PGOL for both exchanges (OTC & CSE)
Price: $0.13USD and $0.20CDN
Common shares: 74,380,354
Insider/Institutional Holdings: 49.5%
Website: www.patriotgoldcorp.com

Financial Breakdown below. All numbers are in $USD

Note: Northern Vertex Mining owns the Moss mine and pays Patriot Gold royalties on a ongoing basis. This mine has several years of production left, based on the last 43-101 resource report. This report will be updated shortly and will extend the life on the Moss mine, giving PGOL additional years of royalty revenue. As well, the company will be releasing drill results on it's own properties, Rainbow & Windy Peake, shortly. Bruner, the other royalty held by Patriot Gold also had an update recently via Canamex Gold.

Financials

ASSETS In $USD
Cash: $1,123,132
Marketable Securities: $221,580
Royalty Receivables: $1,076,130
Prepaid Expenses: $105,000
Deferred Tax Asset Allowance: $1,165,000
Total Assets: $3,691,842

LIABILITIES in $USD
Accounts Payable: $50,763
Accounts Payable(Related parties): $182,618
Total Liabilities: $233,381

2020 Performance In $USD
Revenue: $2,468,078
Total Expenses: $1,369,210
Net Income Before Taxes: $862,293
Income Tax Benefit: $1,165,000 - See Note 10 (Additional $8.7 million in tax benefits)
Net Income: $2,027,293 or $0.03c USD

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