Athena Gold Corp Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Athena Gold Corp has submitted its quarterly report (10-Q) for the period ending March 31, 2024, detailing financial data and share information.</b>

AI Summary

ATHENA GOLD CORP (AHNRF) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. Athena Gold Corp filed a 10-Q report for the period ending March 31, 2024. The company's fiscal year ends on December 31. Athena Gold Corp was formerly known as Athena Silver Corp. The filing includes data related to common stock, additional paid-in capital, and retained earnings for various periods. Information on dilutive and antidilutive shares, including options and warrants, is presented for Q1 2024 and Q1 2023.

Why It Matters

For investors and stakeholders tracking ATHENA GOLD CORP, this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and position of Athena Gold Corp for the first quarter of 2024. Understanding the share structure, including dilutive and antidilutive elements, is crucial for assessing potential future equity dilution and valuation.

Risk Assessment

Risk Level: low — ATHENA GOLD CORP shows low risk based on this filing. The filing is a standard 10-Q report, which is a routine disclosure for publicly traded companies and does not contain significant new risks or events.

Analyst Insight

Review the detailed financial statements and share information within the 10-Q to understand Athena Gold Corp's current financial health and potential equity structure changes.

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report)
• 2024-05-14 — Filing Date (Filed as of date)
• 2024-01-01 — Quarter Start Date (Reporting period for Q1 2024)
• 2023-01-01 — Prior Year Q1 Start Date (Reporting period for Q1 2023)

Key Players & Entities

• ATHENA GOLD CORP (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-14 (date) — Filed as of date
• 0001683168-24-003381 (filing) — Accession number
• ATHENA SILVER CORP (company) — Former company name
• 2010-03-15 (date) — Date of name change
• VACAVILLE (location) — Business address city
• 707-291-6198 (phone) — Business phone

FAQ

Industry Context

Athena Gold Corp operates in the gold and silver ores industry, focusing on mining and exploration activities.

Regulatory Implications

As a publicly traded company, Athena Gold Corp is subject to SEC regulations and reporting requirements, including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Analyze the balance sheet and income statement for the quarter ended March 31, 2024.
2. Examine the details of common stock, additional paid-in capital, and retained earnings.
3. Review the disclosures related to dilutive and antidilutive shares, including options and warrants.

Year-Over-Year Comparison

This filing is a standard 10-Q for the first quarter of 2024, providing updated financial information compared to previous filings.

Key Financial Figures

• $500,000 — may be purchased by the Company for CAD $500,000 payable to the Seller. An additional on

Filing Documents

• athenagold_i10q-033124.htm (10-Q) — 544KB
• athenagold_ex3101.htm (EX-31.1) — 12KB
• athenagold_ex3102.htm (EX-31.2) — 12KB
• athenagold_ex3200.htm (EX-32) — 5KB
• 0001683168-24-003381.txt (&nbsp;) — 3620KB
• ahnr-20240331.xsd (EX-101.SCH) — 29KB
• ahnr-20240331_cal.xml (EX-101.CAL) — 30KB
• ahnr-20240331_def.xml (EX-101.DEF) — 103KB
• ahnr-20240331_lab.xml (EX-101.LAB) — 249KB
• ahnr-20240331_pre.xml (EX-101.PRE) — 202KB
• athenagold_i10q-033124_htm.xml (XML) — 595KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 3 Item 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 3 Consolidated Balance Sheets (unaudited) 3 Consolidated Statements of Operations (unaudited) 4 Consolidated Statements of Stockholders' Equity (Deficit) (unaudited) 5 Consolidated Statements of Cash Flows (unaudited) 6

Notes to Financial Statements (unaudited)

Notes to Financial Statements (unaudited) 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 17 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 20 Item 4.

Controls and Procedures

Controls and Procedures 20

OTHER INFORMATION

PART II. OTHER INFORMATION 22 Item 1.

Legal Proceedings

Legal Proceedings 22 Item 1A.

Risk Factors

Risk Factors 22 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 22 Item 3. Defaults Upon Senior Securities 22 Item 4. Mine Safety Disclosures 22 Item 5. Other Information 22 Item 6. Exhibits 22 Signature 23 2

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION ITEM I. FINANCIAL STATEMENTS ATHENA GOLD CORPORATION CONSOLIDATED BALANCE SHEETS (EXPRESSED IN US DOLLARS) (unaudited) 3/31/24 12/31/23 Assets Current assets Cash $ 15,901 $ 2,808 Prepaid expenses 26,000 45,647 Total current assets 41,901 48,455 Other assets Investment in securities 661,867 496,400 Mineral rights 6,196,114 6,196,114 Total other assets 6,857,981 6,692,514 Total assets $ 6,899,882 $ 6,740,969 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 128,525 $ 144,695 Accounts payable - related party 151,127 100,500 Advanced deposits – 46,000 Warrant liability 42,206 29,151 Total current liabilities 321,858 320,346 Long term liabilities Warrant liability 276,572 102,811 Total long term liabilities 276,572 102,811 Total liabilities 598,430 423,157 Stockholders' equity Preferred stock, $ .0001 par value, 5,000,000 shares authorized, none outstanding – – Common stock - $ 0.0001 par value; 250,000,000 shares authorized, 172,823,633 and 167,138,069 issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 17,283 16,714 Additional paid in capital 17,496,035 17,391,148 Accumulated deficit ( 11,211,866 ) ( 11,090,050 ) Total stockholders' equity 6,301,452 6,317,812 Total liabilities and stockholders' equity $ 6,899,882 $ 6,740,969 Commitments and contingencies (Note 5) See accompanying notes to the unaudited financial 3 ATHENA GOLD CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS (EXPRESSED IN US DOLLARS) (unaudited) Three Months Ended 3/31/24 3/31/23 Operating expenses Exploration, evaluation and project expenses $ 40,414 $ 16,768 General and administrative expenses 128,827 140,464 Total operating expenses 169,241 157,232 Net operating loss ( 169,241 ) ( 157,232 ) Unrealized gain on investment 165,467 – Revaluation of warrant l

NOTES TO FINANCIAL STATEMENTS

NOTES TO FINANCIAL STATEMENTS (Unaudited) Note 1 – Nature of Business and Summary of Significant Accounting Policies Nature of Operations Athena Gold Corporation ("we," "our," "us," or "Athena") is engaged in the acquisition and exploration of mineral resources. We were incorporated in Delaware on December 23, 2003, and began our mining operations in 2010. The Company's properties do not have any reserves. The Company plans to conduct exploration programs on these properties with the objective of ascertaining whether any of its properties contain economic concentrations of precious and base metals that are prospective for mining. Basis of Presentation and Statement of Compliance The accompanying consolidated financial statements (the "consolidated financial statements") have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and pursuant to the rules and regulations of the United States Securities and Exchange Commission ("SEC"). Basis of Measurement These consolidated financial statements have been prepared on the going concern basis, under the historical cost convention, except for certain financial instruments that are measured at fair value as described herein. Principles of Consolidation The consolidated financial statements include the accounts of Athena Gold Corp. and its wholly owned subsidiary, Nubian Resources USA ("Nubian USA"). All significant inter-entity balances and transactions have been eliminated in consolidation. Subsidiaries are entities the Company controls when it is exposed, or has rights, to variable returns from its involvement in the entity and can affect those returns through its power to direct the relevant activities of the entity. Subsidiaries are included in the consolidated financial results of the Company from the date of acquisition up to the date of disposition or loss of control. Going Concern and Management's Plans As at March 31, 2024, the Compa

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