Yinfu Gold Corp. Files 2024 10-K with $122M in Assets

TL;DR

Yinfu Gold's 2024 10-K is in: $122M assets, Wyoming corp, Shenzhen HQ. Gold mining biz.

AI Summary

Yinfu Gold Corp. filed its 10-K for the fiscal year ending March 31, 2024, reporting total assets of $121,983,993. The company, formerly known as Element92 Resources Corp., is incorporated in Wyoming and operates in the miscellaneous metal ores sector. Its principal executive offices are located in Shenzhen, China.

Why It Matters

This filing provides investors with a comprehensive overview of Yinfu Gold Corp.'s financial health and operational status for the fiscal year 2024, crucial for investment decisions.

Risk Assessment

Risk Level: medium — The company operates in the volatile metal ores sector and has a history of name changes, suggesting potential instability or restructuring.

Key Numbers

• $121.98M — Total Assets (As of the fiscal year end March 31, 2024.)
• 03-31 — Fiscal Year End (The reporting period concluded on this date in 2024.)

Key Players & Entities

• Yinfu Gold Corp. (company) — Filer of the 10-K
• Element92 Resources Corp. (company) — Former name of Yinfu Gold Corp.
• 2024-03-31 (date) — Fiscal year end
• $121,983,993 (dollar_amount) — Total assets reported
• Wyoming (location) — State of incorporation
• Shenzhen (location) — Business address city

FAQ

Key Financial Figures

• $0.001 — 3,993 shares of common stock, par value $0.001 per share issued and outstanding. Yinf
• $120,000 — tions, the Company raised proceeds of US$120,000 (with par value of US$0.001 each) and i

Filing Documents

• yinfu_10k.htm (10-K) — 724KB
• yinfu_ex311.htm (EX-31.1) — 13KB
• yinfu_ex312.htm (EX-31.2) — 11KB
• yinfu_ex321.htm (EX-32.1) — 4KB
• yinfu_ex322.htm (EX-32.2) — 4KB
• 0001640334-24-001102.txt ( ) — 3012KB
• elre-20240331.xsd (EX-101.SCH) — 27KB
• elre-20240331_lab.xml (EX-101.LAB) — 168KB
• elre-20240331_cal.xml (EX-101.CAL) — 34KB
• elre-20240331_pre.xml (EX-101.PRE) — 144KB
• elre-20240331_def.xml (EX-101.DEF) — 65KB
• yinfu_10k_htm.xml (XML) — 307KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 6 Item 1B. Unresolved Staff Comments 20 Item 2.

Properties

Properties 20 Item 3.

Legal Proceedings

Legal Proceedings 20 Item 4. Mine Safety Disclosures 20 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 21 Item 6.

Selected Financial Data

Selected Financial Data 23 Item 7.

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 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 26 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 27 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 28 Item 9A.

Controls and Procedures

Controls and Procedures 28 Item 9B. Other Information 29 Part III Item 10. Directors, Executive Officers and Corporate Governance 29 Item 11.

Executive Compensation

Executive Compensation 32 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 33 Item 13. Certain Relationships and Related Transactions, and Director Independence 34 Item 14. Principal Accountant Fees and Services 34 Part IV Item 15. Exhibits and Financial Statement Schedules 35

Signatures

Signatures 36 2 Table of Contents PART I CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Except for historical information, this report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risks and uncertainties, including, among other things, statements regarding our business strategy, future revenues and anticipated costs and expenses. Such forward-looking statements include, among others, those statements including the words "expects", "anticipates", "intends", "believes" and similar language. Our actual results may differ significantly from those projected in the forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, those discussed in the sections "Business", "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations". You should carefully review the risks described in this Annual Report on Form 10-K and in other documents we file from time to time with the Securities and Exchange Commission. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this report. We undertake no obligation to publicly release any revisions to the forward-looking statements or reflect events or circumstances after the date of this document. Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. All references in this Form 10-K/A to the "Company", "Yinfu", "we", "us" or "our" are to Yinfu Gold Corporation.

Business

Item 1. Business Corporate Overview Yinfu Gold Corporation (the "Company") is a Wyoming corporation incorporated on September 1, 2005, as a for-profit company, and has a fiscal year end of March 31. The Company's business office is located at Suite 2313, Dongfang Science and Technology Mansion, Nanshan District, Shenzhen, China 518000. The telephone number is (86)755-8316-0998. The Company has limited cash on hand. We have sustained losses for year ended March 31, 2024 and has relied solely upon the funding obtained from director and significant stockholders. Name Change The Company was originally incorporated under the laws of the State of Wyoming as Ace Lock & Security, Inc. On March 5, 2007, we filed a Certificate of Amendment with the Wyoming Secretary of State to change our name from Ace Lock & Security, Inc. to Element92 Resources Corp. On August 16, 2010, we filed a Certificate of Amendment with the Wyoming Secretary of State to change our name from Element92 Resources Corp. to Yinfu Gold Corporation. On November 18, 2010, we received a notification from the Financial Industry Regulatory Authority ("FINRA") that the name change was effective. Change in Authorized Capital On December 8, 2014, the Company increased the authorized capital from 1,000,000,000 common shares to 3,000,000,000 common shares. 3 Table of Contents Reverse Split The record date for the determination of stockholders entitled to consent to the 1 for 100 Reverse Split was October 17, 2016 (the "Record Date"). As of that date, we had pre-reverse split shares of 991,770,361 issued and outstanding shares of common stock, par value $0.001. Each share of our common stock entitles the holder thereof to one vote on each matter that may come before a meeting or vote of our stockholders. The Reverse Split was approved by the holders of a majority of our stock entitled to vote on the Record Date. The vote required to approve the Reverse Split was 50% of the shares entitled to vote p

Risk Factors

Item 1A. Risk Factors Investing in our securities involves a high degree of risk. Before investing in our securities, you should carefully consider the risks and uncertainties described below and the other information in this filing before deciding to purchase our common stock. If any of these risks or uncertainties actually occurs, our business, financial condition or future operating results could be materially harmed. In that case, the price of our common stock could decline and you could lose part or all of your investment. Risks Relating to Doing Business in the PRC PRC regulations relating to investments in offshore companies by PRC residents may subject our PRC-resident beneficial owners or our PRC subsidiaries to liability or penalties, limit our ability to inject capital into our PRC subsidiaries or limit our PRC subsidiaries' ability to increase their registered capital or distribute profits. In July 2014, SAFE promulgated the Circular on Relevant Issues Concerning Foreign Exchange Control on Domestic Residents' Offshore Investment and Financing and Roundtrip Investment through Special Purpose Vehicles, or SAFE Circular 37, which replaces the previous SAFE Circular 75. SAFE Circular 37 requires PRC residents, including PRC individuals and PRC corporate entities, to register with SAFE or its local branches in connection with their direct or indirect offshore investment activities. SAFE Circular 37 is applicable to our shareholders who are PRC residents and may be applicable to any offshore acquisitions that we may make in the future. Under SAFE Circular 37, PRC residents who make, or have prior to the implementation of SAFE Circular 37 made, direct or indirect investments in offshore special purpose vehicles, or SPVs, are required to register such investments with SAFE or its local branches. In addition, any PRC resident who is a direct or indirect shareholder of an SPV, is required to update its registration with the local branch of SAFE with resp

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