What changed in this filing

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Item 2. Management’s Discussion and Analysis

2023-10-17 compared with 2023-07-18 · 48 added, 29 removed, 139 unchanged (36% of the section changed)

78 unchanged sentences

Results of Operations for the three months

ended March 31, 2023 and 2022

Three months ended March 31,

ended June 30, 2023 and 2022

Three months ended June 30,

Operating expenses:

4 unchanged sentences

Interest expense

Gain on change in derivative liability

Gain (loss) on change in derivative liability

Total other income (expense)

Operating expenses

three months ended March 31, 2023, our total operating expenses included general and administrative expenses of $33,945 as compared to

$68,597 during the three months ended March 31, 2022.

T he $34,652 decrease is primarily associated with decreases in professional

fees and officer compensation.

three months ended June 30, 2023, our total operating expenses included general and administrative expenses of $67,620 as compared to

$31,211 during the three months ended June 30, 2022.

T he $36,409 increase is primarily associated with increases in professional

and consulting fees.

Other income (expense)

three months ended March 31, 2023, total other income was $3,024 as compared to other expense

of $36,149 during the three months ended March 31, 2022.

The $39,173 change was mainly related to the decrease interest expense

related to amortization of debt discount in the prior year.

three months ended June 30, 2023, total other income was $20,053 as compared to other expense

of $400,870 during the three months ended June 30, 2022.

The $420,923 increase was mainly related to the change in derivative liability.

Results of Operations for the six months

ended June 30, 2023 and 2022

Six months ended June 30,

Operating expenses:

General and administrative expenses

Total operating expenses

Operating loss

Other income (expense):

Interest expense

Gain (loss) on change in derivative liability

Total other income (expense)

Operating expenses

six months ended June 30, 2023, our total operating expenses included general and administrative expenses of $101,565 as compared to $99,808

during the six months ended June 30, 2022.

Other income (expense)

six months ended June 30, 2023, total other income was $23,077 as compared to other expense

of $437,019 during the six months ended June 30, 2022.

The $460,096 increase was mainly related to the change in derivative liability.

Liquidity and Capital Resources

5 unchanged sentences

unable to continue as a going concern.

At March 31, 2023, we had not yet generated sufficient revenues or achieved profitable operations

At June 30, 2023, we had not yet generated sufficient revenues or achieved profitable operations

and we have accumulated losses of $19,608,230.

6 unchanged sentences

in the form of additional loans from officers, directors or significant shareholders, or equity financing from the sale of our common

stock but cannot assure that any future financings will occur.

stock but cannot assure that any future financing will occur.

A summary of our cash provided by and used in

operating, investing and financing activities is as follows:

Three months ended March 31,

Six months ended June 30,

Net cash used in operating activities

4 unchanged sentences

Cash end of period

At March 31, 2023, we had $27,261 in cash and

a $1,576,657 working capital deficit.

At June 30, 2023, we had $2,795 in cash and a

$1,617,550 working capital deficit.

This compares to cash of $743 and a working capital deficit of $1,692,051 at December 31, 2022.

Net cash used in operating activities during the

three months ended March 31, 2023 was $13,482 and was mainly comprised of our $30,921 net loss during the period, adjusted by a non-cash

charges of $6,315 of stock compensation and a gain on change in derivative liability of $21,772.

In addition, it reflects changes in operating

assets and liabilities of $32,896.

six months ended June 30, 2023 was $54,247 and was mainly comprised of our $78,488 net loss during the period, adjusted by a non-cash

charges of $12,989 of stock compensation, accretion of discounts on notes payable of $8,019 and a gain on change in derivative liability

In addition, it reflects changes in operating assets and liabilities of $73,850.

Net cash used in operating activities during the

three months ended March 31, 2022 was $55,845 and was mainly comprised of our $104,746 net loss during the period, adjusted by a non-cash

charges of $12,615 of stock compensation, gain on change in derivative liability of $29,540 and accretion of discounts on notes payable

six months ended June 30, 2022 was $85,288 and was mainly comprised of our $536,827 net loss during the period, adjusted by

a non-cash charges of $18,608 of stock compensation, loss on change in derivative liability of $277,012 and accretion of discounts on

notes payable of $122,362.

In addition, it reflects changes in operating assets and liabilities of $33,557.

Net cash used in investing activities during the

three months ended March 31, 2023 was $100,000 which was comprised of cash payment for acquisition of mineral properties.

six months ended June 30, 2023 was $100,000 which was comprised of cash payment for acquisition of mineral properties.

Net cash used in investing activities during the

three months ended March 31, 2022 was $769 which was comprised of cash payments for development costs.

During the three months ended March 31, 2023,

net cash provided by financing activities was $140,000 comprised of $240,000 proceeds from sale of common stock and the repayment of convertible

debt of $100,000.

During the three months ended March 31, 2022,

net cash provided by financing activities was $40,000 comprised of $40,000 proceeds from notes payable.

six months ended June 30, 2022 was $769 which was comprised of cash payments for development costs.

During the six months ended June 30, 2023, net

cash provided by financing activities was $156,299 which was comprised of $240,000 proceeds from sale of common stock, $21,000

proceeds from notes payable, third parties , which were offset with the repayment of convertible debt of $100,000 and repayment

of advances from third parties of $4,701.

During the six months ended June 30, 2022, net

cash provided by financing activities was $70,000 comprised of $40,000 proceeds from notes payable and $30,000 proceeds from notes payable

from related parties.

Off Balance Sheet Arrangements

21 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 2. Management’s Discussion and Analysis