Chilean Cobalt Corp. Files Q1 2024 10-Q
Ticker: COBA · Form: 10-Q · Filed: Jun 14, 2024 · CIK: 1727255
| Field | Detail |
|---|---|
| Company | Chilean Cobalt CORP. (COBA) |
| Form Type | 10-Q |
| Filed Date | Jun 14, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.0001, $8.8 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, mining
TL;DR
Chilean Cobalt Corp. 10-Q filed for Q1 2024. Financials updated.
AI Summary
Chilean Cobalt Corp. filed its Form 10-Q for the period ending March 31, 2024. The filing details financial information for the first quarter of 2024, comparing it to the same period in 2023. The company is incorporated in Nevada and operates in the Metal Mining sector.
Why It Matters
This filing provides investors with an update on Chilean Cobalt Corp.'s financial performance and position as of March 31, 2024, crucial for assessing the company's health and future prospects.
Risk Assessment
Risk Level: low — This is a routine financial filing (10-Q) and does not inherently present new risks beyond those associated with the company's industry and operations.
Key Numbers
- 2024-03-31 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
- 2023-03-31 — Prior Year Period End Date (Used for year-over-year comparison in the 10-Q.)
Key Players & Entities
- Chilean Cobalt Corp. (company) — Filer of the 10-Q
- 10-Q (document) — Type of SEC filing
- March 31, 2024 (date) — End of reporting period
- Metal Mining (industry) — Company's Standard Industrial Classification
- Nevada (location) — State of incorporation
FAQ
What is the primary business of Chilean Cobalt Corp.?
Chilean Cobalt Corp. operates in the Metal Mining sector, as indicated by its Standard Industrial Classification code.
For what period is this 10-Q filing?
This Form 10-Q is for the period ending March 31, 2024.
When was this filing submitted?
The filing was submitted on June 14, 2024.
In which U.S. state is Chilean Cobalt Corp. incorporated?
Chilean Cobalt Corp. is incorporated in Nevada (NV).
What is the company's fiscal year end?
The company's fiscal year ends on December 31.
Filing Stats: 4,527 words · 18 min read · ~15 pages · Grade level 15.3 · Accepted 2024-06-14 16:18:20
Key Financial Figures
- $0.0001 — hares of the registrant's common stock, $0.0001 par value per share, outstanding as of
- $8.8 million — n down to $-0- value from approximately $8.8 million on the Company's facility located in th
Filing Documents
- chilean_i10q-033124.htm (10-Q) — 489KB
- chilean_ex3101.htm (EX-31.1) — 8KB
- chilean_ex3102.htm (EX-31.2) — 7KB
- chilean_ex3201.htm (EX-32.1) — 4KB
- 0001683168-24-004236.txt ( ) — 2996KB
- none-20240331.xsd (EX-101.SCH) — 21KB
- none-20240331_cal.xml (EX-101.CAL) — 30KB
- none-20240331_def.xml (EX-101.DEF) — 70KB
- none-20240331_lab.xml (EX-101.LAB) — 223KB
- none-20240331_pre.xml (EX-101.PRE) — 180KB
- chilean_i10q-033124_htm.xml (XML) — 366KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements 3 Condensed Consolidated Balance Sheets 3 Unaudited Condensed Consolidated Statements of Operations 4 Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity 5 Unaudited Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 7
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 19
Quantitative and Qualitative Disclosures about Market Risk
Item 3. Quantitative and Qualitative Disclosures about Market Risk 25
Controls and Procedures
Item 4. Controls and Procedures 25
– OTHER INFORMATION
PART II – OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 27
Risk Factors
Item 1A. Risk Factors 27
Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities
Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 27
Exhibits
Item 6. Exhibits 27 Signature Page 29 2
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS CHILEAN COBALT CORP. AND SUBSIDIARY CONDENSED CONSOLIDATED BALANCE SHEETS March 31, December 31, 2024 2023 (Unaudited) Assets Current assets: Cash $ 632,177 $ 799,871 Prepaid expenses 50,819 57,001 Total current assets 682,996 856,872 Property and equipment, net 2,958 2,958 Total assets $ 685,954 $ 859,830 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 48,865 $ 10,103 Accrued expenses 23,715 10,886 Total current liabilities 72,580 20,989 Total liabilities 72,580 20,989 Stockholders' Equity: Series A Convertible Preferred Stock, $ 0.0001 par value; 19,848,875 shares authorized and 0 and 0 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively – – Common Stock, $ 0.0001 par value; 100,000,000 shares authorized and 43,502,145 and 43,285,716 issued and outstanding at March 31, 2024 and December 31, 2023, respectively 4,350 4,329 Additional paid-in capital 33,121,802 33,081,263 Accumulated other comprehensive income 250,636 253,487 Accumulated deficit ( 32,763,414 ) ( 32,500,238 ) Total stockholders' equity 613,374 838,841 Total liabilities and stockholders' equity $ 685,954 $ 859,830 The accompanying notes are an integral part of the unaudited condensed consolidated financial statements. 3 CHILEAN COBALT CORP. AND SUBSIDIARY UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATION AND COMPREHENSIVE LOSS Three-Months Ended March 31, 2024 2023 Revenues $ – $ – Cost of mineral exploration – – Gross profit – – Operating expenses: General and administrative 271,339 332,532 Depreciation – 2,901 Foreign currency transaction (gain) loss ( 1,209 ) 381 Total operating expenses 270,130 335,814 Loss from operations ( 270,130 ) ( 335,814 ) Interest income 6,954 127 Loss before income taxes ( 263,176 ) ( 335,687 ) Net loss $ ( 263,176 ) $ ( 335,687