What changed in this filing

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Item 2. Management’s Discussion and Analysis

2024-11-14 compared with 2024-10-15 · 45 added, 43 removed, 178 unchanged (33% of the section changed)

1 unchanged sentence

OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

We use the terms “Magellan,”

“we,” “our,” and “us” to refer to Magellan Copper & Gold Inc.

(formerly Magellan Gold

Corporation).

We use the terms “Magellan,” “we,”

“our,” and “us” to refer to Magellan Copper & Gold Inc.

(formerly Magellan Gold Corporation).

The following discussion and analysis provides

89 unchanged sentences

Adams County, Idaho upon landowner approval.

As of June 30, 2024, the total purchase price for the acquisition for the three projects

As of September 30, 2024, the total purchase price for the acquisition for the three projects

was determined to be $422,565, to be paid upon landowner approval, consisting of 5,500,000 shares of common stock for the three projects

14 unchanged sentences

Results of Operations for the three months

ended June 30, 2024 and 2023

Three months ended June 30,

ended September 30, 2024 and 2023

Three months ended September 30,

Operating expenses:

4 unchanged sentences

Interest expense

Gain on change in derivative liability

Gain on conversion of debt

Gain (loss) on change in derivative liability

Total other income (expense)

Operating expenses

the three months ended June 30, 2024, our total operating expenses included general and administrative expenses of $71,817 as

compared to $67,620 during the three months ended June 30, 2023.

T he $4,197 increase is primarily associated with increases in

professional fees and stock-based compensation.

the three months ended September 30, 2024, our total operating expenses included general and administrative expenses of $107,170

as compared to $59,194 during the three months ended September 30, 2023.

The $47,976 change was

mainly related to mineral claim payments.

Other income (expense)

the three months ended June 30, 2024, total other expense was $2,320 as compared to other income of $20,053 during the

three months ended June 30, 2023.

three months ended September 30, 2024, total other income was $40,568 as compared to other expense of $122,052 during the three

months ended September 30, 2023.

The $162,620 change was mainly related to change in derivative liability.

Results of Operations for the six months

ended June 30, 2024 and 2023

Six months ended June 30,

Results of Operations for the nine months

ended September 30, 2024 and 2023

Nine months ended September 30,

Operating expenses:

4 unchanged sentences

Interest expense

Gain on change in derivative liability

Gain on conversion of debt

Gain (loss) on change in derivative liability

Total other income (expense)

Operating expenses

the six months ended June 30, 2024, our total operating expenses included general and administrative expenses of $172,181 as compared

to $101,565 during the six months ended June 30, 2023.

T he $70,616 increase is primarily associated with increases in professional

fees and stock-based compensation.

the nine months ended September 30, 2024, our total operating expenses included general and administrative expenses of $279,351 as compared

to $160,759 during the nine months ended September 30, 2023.

T he $118,592 increase is primarily associated with increases in mineral

claim payments, professional fees and stock-based compensation.

Other income (expense)

the six months ended June 30, 2024, total other expense was $32,221 as compared to other income of $23,077 during the six

months ended June 30, 2023.

nine months ended September 30, 2024, total other income was $8,347 as compared to other expense of $98,975 during the nine

months ended September 30, 2023.

The $107,322 change was mainly related to change in derivative liability.

6 unchanged sentences

unable to continue as a going concern.

At June 30, 2024, we had not yet generated sufficient revenues or achieved profitable operations

and we have accumulated losses of $21,198,180.

We expect to incur further losses in the development of our business, all of which raises

At September 30, 2024, we had not yet generated sufficient revenues or achieved profitable operations

and we have accumulated losses of $21,264,782 We expect to incur further losses in the development of our business, all of which raises

substantial doubt about our ability to continue as a going concern.

7 unchanged sentences

operating, investing and financing activities is as follows:

Six months ended June 30,

Nine months ended September 30,

Net cash used in operating activities

4 unchanged sentences

Cash end of period

At June 30, 2024, we

had $3,913 in cash and a $1,937,578 working capital deficit.

At September 30, 2024,

we had $16,042 in cash and a $1,910,217 working capital deficit.

This compares to cash of $99 and a working capital deficit of $1,784,671

1 unchanged sentence

Net cash used in operating

activities during the six months ended June 30, 2024 was $110,186 and was mainly comprised of our $204,402 net loss during the period,

activities during the nine months ended September 30, 2024 was $122,557 and was mainly comprised of our $271,004 net loss during the period,

adjusted by a non-cash charges of $57,408 of stock compensation and a gain on change in derivative liability of $55,572.

In addition, it

reflects changes in operating assets and liabilities of $52,096.

it reflects changes in operating assets and liabilities of $162,940.

Net cash used in operating

activities during the 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 of $70,617.

activities during the nine months ended September 30, 2023 was $56,757 and was mainly comprised of our $259,734 net loss during the period,

adjusted by a non-cash charges of $20,583 of stock compensation, accretion of discounts on notes payable of $10,000 and a loss on change

in derivative liability of $30,076.

In addition, it reflects changes in operating assets and liabilities of $142,318.

Net cash used in investing

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

During the six months

ended June 30, 2024, net cash provided by financing activities was $114,000 comprised of proceeds from notes payable related parties which

were offset by repayment of notes payable.

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

activities during the nine months ended September 30, 2023 was $100,000 which was comprised of cash payment for acquisition of mineral

During the nine months

ended September 30, 2024, net cash provided by financing activities was $138,500 comprised of proceeds from notes payable related parties

and advances from third parties which were offset by repayment of notes payable.

During the nine months

ended September 30, 2023, net cash provided by financing activities was $168,899 which was comprised of $252,600 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.

18 unchanged sentences

and adjustments are made when facts and circumstances dictate a change.

QUANTITATIVE AND QUALITATIVE DISCLOSURES

ABOUT MARKET RISK

Not applicable.

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