Western Sierra Resource Corp (WSRC)

[amateurinvestor]

First quarter report has been posted to OTC Markets
https://www.otcmarkets.com/otcapi/company/financial-report/333727/content

I was not aware of this when I posted my last message to IHUB. It is surprising that nobody has commented on the first quarter report yet, so I will give it a shot.
WSRC did receive income from GBHPF for their water services in the amount of $195,500. This is far short of the income payment WSRC was originally expecting from GBHPF. However, I believe they are still expecting more payments from GBHPF although there is no mention of receivables on the asset side of the ledger. I am not a business major, but I think no receivables are mentioned because technically a receivable is a balance on an overdue account. Since WSRC and GBHPF have reworked the payment schedule, payments due in the future cannot be listed as a receivable. Nevertheless, first quarter 2022 income is infinitely better than first quarter 2021 income, which was *zero*.
Since WSRC did not receive the income they were originally expecting, the market has expressed its disappointment. Nevertheless, from my perspective WSRC is in a much better position now than they were in the same time last year, immediately prior to the big run-up in the stock price in June of last year.

GLTA!