Lode-Star Mining Inc. Files Q2 2024 10-Q

TL;DR

Lode-Star Mining's Q2 2024 10-Q is in. Check financials.

AI Summary

Lode-Star Mining Inc. filed its 10-Q for the period ending June 30, 2024. The company, formerly International Gold Corp., is based in Reno, NV, and operates in the gold and silver ores sector. The filing covers financial performance and operational details for the second quarter of 2024.

Why It Matters

This 10-Q filing provides investors and analysts with an update on Lode-Star Mining's financial health and operational status for the second quarter of 2024, crucial for assessing the company's performance in the precious metals market.

Risk Assessment

Risk Level: medium — As a mining company, Lode-Star is subject to commodity price volatility, operational risks, and regulatory changes, which can significantly impact its financial performance.

Key Numbers

• 1040 — SIC Code (Standard Industrial Classification for Gold & Silver Ores)
• 20240630 — Reporting Period End (End date for the 10-Q filing)
• 20240812 — Filing Date (Date the 10-Q was officially filed with the SEC)

Key Players & Entities

• Lode-Star Mining Inc. (company) — Filer of the 10-Q
• International Gold Corp. (company) — Former name of Lode-Star Mining Inc.
• Reno, NV (location) — Business and mailing address
• 1 East Liberty Street, Suite 600 (location) — Street address for Lode-Star Mining Inc.
• 20240630 (date) — Conformed period of report
• 20240812 (date) — Filed as of date

FAQ

Key Financial Figures

• $13,693 — 024 and 2023. We recorded a net loss of $13,693 for the current quarter and have an acc
• $4,348,830 — rter and have an accumulated deficit of $4,348,830. Expenses Notable year over year di
• $3,908 — At June 30, 2024, our total assets were $3,908 and our total liabilities were $115,925
• $115,925 — e $3,908 and our total liabilities were $115,925. Our working capital deficiency at June

Filing Documents

• lsmg-10q.htm (10-Q) — 311KB
• lsmg-ex31_1.htm (EX-31.1) — 11KB
• lsmg-ex32_1.htm (EX-32.1) — 7KB
• 0001199835-24-000296.txt ( ) — 1179KB
• lsmg-20240630.xsd (EX-101.SCH) — 10KB
• lsmg-20240630_cal.xml (EX-101.CAL) — 15KB
• lsmg-20240630_def.xml (EX-101.DEF) — 11KB
• lsmg-20240630_lab.xml (EX-101.LAB) — 82KB
• lsmg-20240630_pre.xml (EX-101.PRE) — 61KB
• lsmg-10q_htm.xml (XML) — 72KB

Financial Statements

Financial Statements 3 Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023 4 5 6 7

Notes to Financial Statements (unaudited)

Notes to Financial Statements (unaudited) 8 Item 2.

Managements Discussion and Analysis of Financial Condition and Results of Operations

Managements Discussion and Analysis of Financial Condition and Results of Operations 10 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 12 Item 4.

Controls and Procedures

Controls and Procedures 13 PART II - OTHER INFORMATION 13 Item 1A.

Risk Factors

Risk Factors 13 Item 1C. Cybersecurity Factors 13 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 14 Item 6. Exhibits 14

SIGNATURES

SIGNATURES 15 2 PART I – FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS. LODE-STAR MINING INC. INTERIM

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS FOR THE THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 2024 AND 2023 (Unaudited) 3 LODE-STAR MINING INC. BALANCE SHEETS (Unaudited) June 30 December 31 2024 2023 (Unaudited) ASSETS Current assets Cash $ 3,908 $ 2,474 Total current assets and total assets 3,908 2,474 Total Assets 3,908 2,474 LIABILITIES Current liabilities Accrued liabilities $ 466 $ 14,689 Due to related parties 115,459 77,235 Total current liabilities and total liabilities 115,925 91,924 Total liabilities 115,925 91,924 STOCKHOLDERS DEFICIENCY Capital Stock Authorized: 480,000,000 voting common shares with a par value of $ 0.001 per share 20,000,000 preferred shares with a par value of $ 0.001 per share Issued: 120,937,442 common shares and no preferred shares at June 30, 2024 120,937,442 common shares and no preferred shares at December 31, 2023 73,757 73,757 Additional Paid-In Capital 4,163,056 4,163,056 Accumulated Deficit ( 4,348,830 ) ( 4,326,263 ) Total stockholders deficiency ( 112,017 ) ( 89,450 ) Total liabilities and stockholders deficiency $ 3,908 $ 2,474 The accompanying notes are an integral part of these unaudited interim financial statements. 4 LODE-STAR MINING INC. OF OPERATIONS (Unaudited) THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30 JUNE 30 2024 2023 2024 2023 Revenue $ - $ - $ - $ - Operating Expenses Consulting services 926 - 926 - Corporate support services 1,602 466 2,068 910 Office, foreign exchange and sundry 647 948 ( 2,812 ) 1,716 Professional Fees 8,907 21,929 17,656 22,385 Transfer and filing fees 1,611 2,104 4,729 6,592 Total operating expenses 13,693 25,448 22,567 31,603 Net Loss and Comprehensive Loss For The Period $ ( 13,693 ) $ ( 25,448 ) $ ( 22,567 ) $ ( 31,603 ) Basic And Diluted Net Income (Loss) Per Common Share $ 0.00 $ 0.00 $ 0.00 $ 0.00 Weighted Average Number of Common Shares

Business

Business The Company has no active business at the present time. We are actively seeking business opportunities to engage in. Funding All of our ongoing operations have continued to be funded by monies advanced to us by LSG, our largest shareholder. We do not currently have enough funds to carry out our entire plan of operations, so we intend to meet the balance of our cash requirements for the next 12 months through a combination of debt financing and equity financing through private placements. There is no assurance that we will be successful in completing any such financings. If we are unsuccessful in obtaining sufficient funds through our capital raising efforts, we may review other financing options, although we cannot provide any assurance that any such options will be available to us or on terms reasonably acceptable to us. Further, if we are unable to secure any additional financing then we plan to reduce the amount that we spend on our operations, including our management-related consulting fees and other general expenses, so as not to exceed the capital resources available to us. Regardless, our current cash reserves and working capital will not be sufficient for us to sustain our business for the next 12 months, even if we decide to scale back our operations. Intellectual Property We do not have any intellectual property. Personnel We have no employees. Our President, Chief Executive Officer, Chief Financial Officer, Treasurer, Director and Secretary Mark Walmesley, receives no compensation for his services. We expect to continue to use outside consultants, advisors, attorneys and accountants as necessary. 10 ITEM 2. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (continued) Going Concern There is substantial doubt that we can continue as an on-going business for the next twelve months unless we obtain additional capital to pay our expenses. This is because we have not generated any revenues to

SIGNATURES

SIGNATURES In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on this 7th day of August 2024. LODE-STAR MINING INC. BY Mark Walmesley Mark Walmesley President, Principal Executive Officer, and Principal Accounting Officer In accordance with the Exchange Act, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated: Signature Title Date /s/ Mark Walmesley Director, President, Chief Executive Officer August 07, 2024 Mark Walmesley 15 EXHIBIT INDEX Exhibit No. Document Description 31.1 Certification of Principal Executive and Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 32.1 Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 for the Chief Executive and Chief Financial Officer. 101.INS Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because XBRL tags are embedded within the Inline XBRL document) 101.SCH Inline XBRL Taxonomy Extension Schema 101.CAL Inline XBRL Taxonomy Extension Calculation Linkbase 101.DEF Inline XBRL Taxonomy Extension Definition Linkbase 101.LAB Inline XBRL Taxonomy Extension Label Linkbase 101.PRE Inline XBRL Taxonomy Extension Presentation Linkbase 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 16

View Full Filing

View this 10-Q filing on SEC EDGAR