Chilean Cobalt Corp. Files Q2 2024 10-Q
Ticker: COBA · Form: 10-Q · Filed: Aug 19, 2024 · CIK: 1727255
Sentiment: neutral
Topics: 10-Q, mining, financials
TL;DR
Chilean Cobalt Corp. 10-Q filed Aug 19, 2024 - Q2 financials out.
AI Summary
Chilean Cobalt Corp. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and position. Specific financial figures and operational updates are provided within the report, which was filed on August 19, 2024.
Why It Matters
This filing provides investors and stakeholders with an update on Chilean Cobalt Corp.'s financial health and operational status for the second quarter of 2024.
Risk Assessment
Risk Level: medium — As a mining company, Chilean Cobalt Corp. is subject to inherent risks related to commodity prices, exploration, and operational challenges.
Key Numbers
- Q2 2024 — Reporting Period (Covers the second quarter of 2024)
- 2024-01-01 to 2024-06-30 — Fiscal Year to Date (Period covered by the financial statements)
Key Players & Entities
- Chilean Cobalt Corp. (company) — Filer of the 10-Q
- 0001683168-24-005884 (other) — Accession Number for the filing
- 20240630 (date) — End of the reporting period
- 20240819 (date) — Filing date
FAQ
What is the primary business of Chilean Cobalt Corp.?
Chilean Cobalt Corp. is engaged in Metal Mining, as indicated by its Standard Industrial Classification code [1000].
When was this 10-Q filing submitted to the SEC?
This 10-Q filing was submitted on August 19, 2024.
What is the fiscal year end for Chilean Cobalt Corp.?
The company's fiscal year ends on December 31.
What is the business address of Chilean Cobalt Corp.?
The business address is 1199 LANCASTER AVENUE, SUITE 107, BERWYN, PA 19312.
What is the SEC file number for Chilean Cobalt Corp.?
The SEC file number is 333-268335.
Filing Stats: 4,614 words · 18 min read · ~15 pages · Grade level 15.3 · Accepted 2024-08-19 13:49:36
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-063024.htm (10-Q) — 577KB
- chilean_ex3101.htm (EX-31.1) — 8KB
- chilean_ex3102.htm (EX-31.2) — 7KB
- chilean_ex3201.htm (EX-32.1) — 4KB
- 0001683168-24-005884.txt ( ) — 3203KB
- coba-20240630.xsd (EX-101.SCH) — 21KB
- coba-20240630_cal.xml (EX-101.CAL) — 30KB
- coba-20240630_def.xml (EX-101.DEF) — 72KB
- coba-20240630_lab.xml (EX-101.LAB) — 223KB
- coba-20240630_pre.xml (EX-101.PRE) — 179KB
- chilean_i10q-063024_htm.xml (XML) — 417KB
– 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 18
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 and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27
Other Information
Item 5. Other Information
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 SHEET June 30, December 31, 2024 2023 Assets (Unaudited) Current assets: Cash $ 417,317 $ 799,871 Prepaid expenses 66,506 57,001 Total current assets 483,823 856,872 Property and equipment, net 2,958 2,958 Total assets $ 486,781 $ 859,830 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 24,070 $ 10,103 Accrued service expenses 17,619 10,886 Total current liabilities 41,689 20,989 Total liabilities 41,689 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 June 30, 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 June 30, 2024 and December 31, 2023, respectively 4,350 4,329 Additional paid-in capital 33,162,364 33,081,263 Accumulated other comprehensive income 251,926 253,487 Accumulated deficit ( 32,973,548 ) ( 32,500,238 ) Total stockholders' equity 445,092 838,841 Total liabilities and stockholders' equity $ 486,781 $ 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 Six-Months Ended June 30, June 30, 2024 2023 2024 2023 Revenues $ – $ – $ – $ – Operating expenses: General and administrative 214,425 282,090 485,764 614,622 Depreciation – 3,685 – 6,586 Foreign currency transaction (gain) loss 664 ( 32 ) ( 545 ) 349 Total operating expenses 215,089 285,743 485,219 621,557 Loss from operations ( 215,089 ) ( 285,743 ) ( 485,219 ) ( 621,557 ) Interest income 4,955 10,021 11,909 10,148