DYNARESOURCE, INC. Files Q3 10-Q, Reports on Preferred Stock
Ticker: DYNR · Form: 10-Q · Filed: Nov 13, 2024 · CIK: 1111741
Sentiment: neutral
Topics: 10-Q, preferred-stock, private-placement, metal-mining
TL;DR
**DYNARESOURCE, INC. Q3 10-Q FILED: Focus on preferred stock & a recent private placement.**
AI Summary
DYNARESOURCE, INC. filed its 10-Q for the period ending September 30, 2024. The company reported on its financial position, including details on preferred stock and common stock. A subsequent event on October 18, 2024, involved a private placement.
Why It Matters
This filing provides investors with an update on DYNARESOURCE, INC.'s financial health and any significant events that occurred after the reporting period, impacting its stock valuation.
Risk Assessment
Risk Level: medium — The filing details preferred stock and a subsequent private placement, which can indicate financing activities and potential dilution or shifts in ownership structure.
Key Numbers
- 33.33 — Preferred Stock Percentage (Indicates a significant portion of equity structure)
Key Players & Entities
- DYNARESOURCE, INC. (company) — Filer of the 10-Q
- 2024-09-30 (date) — End of the reporting period
- 2024-10-18 (date) — Date of a subsequent event (private placement)
- us-gaap:PreferredStockMember (financial_metric) — Key financial item discussed
- us-gaap:PrivatePlacementMember (event) — Subsequent event detail
FAQ
What was the nature of the private placement that occurred on October 18, 2024?
The filing indicates a subsequent event involving a private placement on October 18, 2024, but specific details regarding the terms and participants are not provided in this excerpt.
How does the company's preferred stock structure impact its common stock?
The filing mentions 'us-gaap:PreferredStockMember' and 'dynr:PreferredSeriesDMember', suggesting a complex preferred stock structure that could affect common stockholders, though the exact impact is not detailed here.
What is DYNARESOURCE, INC.'s primary business activity?
DYNARESOURCE, INC. is classified under 'METAL MINING [1000]' according to its SIC code.
What financial periods are covered by this 10-Q filing?
This 10-Q covers the period ending September 30, 2024, with comparative data potentially referencing periods like September 30, 2023, and fiscal year end December 31.
Are there any significant geographical components mentioned in the filing?
Yes, the filing includes 'srt:ReportableGeographicalComponentsMember' for the period ending 2024-09-30, suggesting geographical segment reporting.
Filing Stats: 4,287 words · 17 min read · ~14 pages · Grade level 15.5 · Accepted 2024-11-13 17:11:35
Key Financial Figures
- $5,600 — ctivity for 95,000 pesos (approximately $5,600 USD). Although the Company considers
Filing Documents
- dynr-20240930.htm (10-Q) — 1866KB
- dynr-ex31_1.htm (EX-31.1) — 14KB
- dynr-ex31_2.htm (EX-31.2) — 14KB
- dynr-ex32_1.htm (EX-32.1) — 10KB
- img244451674_0.jpg (GRAPHIC) — 79KB
- 0000950170-24-126479.txt ( ) — 7920KB
- dynr-20240930.xsd (EX-101.SCH) — 1144KB
- dynr-20240930_htm.xml (XML) — 1205KB
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS ITEM 1. Unaudited Condensed Interim Consolidated Financial Statements 3 Notes to Unaudited Condensed Interim Consolidated Financial Statements 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 24 ITEM 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 30 ITEM 4.
Controls and Procedures
Controls and Procedures 30 PART II. OTHER INFORMATION ITEM 1.
Legal Proceedings
Legal Proceedings 32 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 32 ITEM 3. Defaults Upon Senior Securities 32 ITEM 4. Mine Safety Disclosures 32 ITEM 5. Other Information 32 ITEM 6. Exhibits 33 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 SEPTEMBER 30, 2024 AND DECEMBER 31, 2023 2024 2023 (Unaudited) (Audited) ASSETS Current assets Cash $ 596,024 $ 5,603,713 Accounts receivable 1,416,056 880,473 Concentrate and ore inventories (Note 2) 1,855,983 2,089,194 Foreign tax receivable 5,378,354 4,434,958 Other current assets (Note 5) 1,928,327 1,137,162 Total current assets 11,174,744 14,145,500 Property and equipment (net of accumulated depreciation and amortization of $ 34,832 and $ 12,239 ) (Note 3) 87,196 103,034 Right-of-use assets, net 763,156 848,822 Mining concessions (Note 4) 4,132,678 4,132,678 Deferred tax asset, net (Note 13) 4,264,115 4,264,115 Foreign tax receivable 13,161,257 11,768,613 Other assets 164,896 175,588 TOTAL ASSETS $ 33,748,042 $ 35,438,350 LIABILITIES, TEMPORARY EQUITY AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities Accounts payable $ 4,862,337 $ 2,768,634 Accrued liabilities (Note 6) 9,344,812 7,727,621 Derivative liability (Note 7) 874,324 1,797,341 Notes payable (Note 8) 11,312,500 9,750,000 Current portion of operating lease payable 119,871 104,117 Installment notes payable (Note 9) 1,953,979 2,259,432 Total current liabilities 28,467,823 24,407,145 Operating lease payable, less current portion 726,221 825,762 Deferred tax liability (Note 13) 334,236 334,236 Asset retirement o