DYNARESOURCE INC Files 10-Q for Q1 2024
Ticker: DYNR · Form: 10-Q · Filed: May 20, 2024 · CIK: 1111741
Sentiment: neutral
Topics: 10-Q, mining, financials
TL;DR
DYNARESOURCE INC 10-Q filed. Q1 2024 update. Check financials.
AI Summary
DYNARESOURCE INC filed its 10-Q for the period ending March 31, 2024. The company, operating in metal mining, reported on its financial status and business activities. Key dates mentioned include the filing date of May 20, 2024, and the fiscal year end of December 31. The filing also references specific financial instruments and agreements, such as Series D Preferred Stock and a Land Lease Agreement.
Why It Matters
This filing provides investors with an update on DYNARESOURCE INC's financial health and operational performance for the first quarter of 2024, crucial for investment decisions.
Risk Assessment
Risk Level: medium — As a metal mining company, DYNARESOURCE INC is subject to inherent risks related to commodity prices, operational challenges, and regulatory changes.
Key Numbers
- 2024-03-31 — Reporting Period End Date (Marks the end of the financial quarter being reported.)
- 2024-05-20 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
- 1231 — Fiscal Year End (Indicates the end of the company's annual accounting period.)
Key Players & Entities
- DYNARESOURCE INC (company) — Filer of the 10-Q
- 20240331 (date) — End of the reporting period
- 20240520 (date) — Filing date
- METAL MINING (industry) — Company's Standard Industrial Classification
- 222 W. LAS COLINAS BLVD STE 744 EAST TOWER, IRVING, TX 75039 (address) — Company's business and mailing address
- Series D Preferred Stock (financial_instrument) — Mentioned in relation to fair value inputs and specific dates
- Land Lease Agreement (legal_agreement) — Referenced with a start date of 2014-01-01
FAQ
What is DYNARESOURCE INC's primary industry classification?
DYNARESOURCE INC's Standard Industrial Classification is METAL MINING [1000].
On what date was this 10-Q filing submitted?
This 10-Q filing was submitted on 20240520.
What is the end date of the reporting period for this 10-Q?
The conformed period of report is 20240331.
What is the company's fiscal year end?
The company's fiscal year end is 1231.
What specific type of preferred stock is mentioned in the filing?
The filing mentions 'SeriesDPreferredStockMember' and 'dynr:PreferredSeriesDMember'.
Filing Stats: 4,293 words · 17 min read · ~14 pages · Grade level 15.6 · Accepted 2024-05-20 15:57:15
Filing Documents
- dynr-20240331.htm (10-Q) — 1264KB
- dynr-ex31_1.htm (EX-31.1) — 13KB
- dynr-ex31_2.htm (EX-31.2) — 13KB
- dynr-ex32_1.htm (EX-32.1) — 10KB
- img244445909_0.jpg (GRAPHIC) — 79KB
- 0000950170-24-062358.txt ( ) — 6342KB
- dynr-20240331.xsd (EX-101.SCH) — 960KB
- dynr-20240331_htm.xml (XML) — 1008KB
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS ITEM 1. Unaudited Condensed Interim Consolidated Financial Statements 3 Notes to Unaudited Condensed Interim Consolidated Financial Statements 8 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 23 ITEM 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 28 ITEM 4.
Controls and Procedures
Controls and Procedures 28 PART II. OTHER INFORMATION ITEM 1.
Legal Proceedings
Legal Proceedings 29 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 29 ITEM 3. Defaults Upon Senior Securities 29 ITEM 4. Mine Safety Disclosures 29 ITEM 5. Other Information 29 ITEM 6. Exhibits 30 CERTIFICATIONS EXHIBIT 31.1 CHIEF EXECUTIVE OFFICER CERTIFICATION EXHIBIT 31.2 CHIEF FINANCIAL OFFICER CERTIFICATION EXHIBIT 32.1 CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 2 Table of Contents DYNARESOURCE, INC. CONDENSED INTERIM CONSOLIDATE D BAL ANCE SHEETS MARCH 31, 2024 AND DECEMBER 31, 2023 2024 2023 (Unaudited) (Audited) ASSETS Current assets Cash $ 1,972,389 $ 5,603,713 Accounts receivable 1,146,660 880,473 Inventories 2,083,801 2,089,194 Foreign tax receivable 6,017,531 4,434,958 Other current assets 1,181,986 1,137,162 Total current assets 12,402,367 14,145,500 Property and equipment (net of accumulated depreciation and amortization of $ 19,582 and $ 12,239 ) 95,691 103,034 Right-of-use assets, net 815,630 848,822 Mining concessions 4,132,678 4,132,678 Deferred tax asset, net 4,264,115 4,264,115 Foreign tax receivable 12,356,116 11,768,613 Other assets 177,733 175,588 TOTAL ASSETS $ 34,244,330 $ 35,438,350 LIABILITIES, TEMPORARY EQUITY AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities Accounts payable $ 5,054,071 $ 2,768,634 Accrued expenses 9,005,788 7,727,621 Derivative liabilities 1,717,200 1,797,341 Note payable 9,262,500 9,750,000 Current portion of operating lease payable 113,462 104,117 Installment notes payable 2,315,382 2,259,432 Total current liabilities 27,468,403 24,407,145 Operating lease payable, less current portion 771,051 825,762 Deferred tax liability 334,236 334,236 Asset retirement obligation 203,033 198,468 TOTAL LIABILITIES 28,776,723 25,765,611 TEMPORARY EQUITY Series C Senior Co